The AI boom’s winners aren’t in AI
We are all learning how to stop paying each other. I build with AI all day long, and even, no kidding, in my sleep. I have an agency, so I build for my own business but mostly for others. Often, a founder tells me some version of the same sentence: I used to have to pay someone for this, and now I don’t. Sometimes AI is doing work they could never have afforded, unlocking a previously…
The AI boom's winners aren't exclusively within the realm of artificial intelligence. While AI technology continues to evolve and automate tasks, there is another side of the equation that deserves attention. Many individuals who once relied on AI for their work are now facing job insecurity, as AI takes over roles that were previously performed by humans. This shift has left small businesses and service providers struggling to keep up with the changing landscape.
In response to this, the author has taken a step back to assess where their own focus should lie in this evolving environment. They have identified two key areas that they believe are poised for significant growth and investment: the critical materials beneath us and the rooms full of people around us.
The critical materials are finite resources required for the functioning of AI technology, such as copper and rare earth magnets. These materials are becoming increasingly scarce and their demand is projected to rise by 50% by 2040, while supply remains insufficient. Investing in these materials is seen as a way to capitalize on the increasing demand and the growing reliance on AI technology.
The author has formed a company called GridMine to map and track the above-ground reserve of these materials, which are available in months rather than decades.
On the other end of the spectrum, the author sees value in physical experiences and human interactions. With the ease and affordability of generating digital content, such as songs, images, and videos, the price of these creations has become virtually zero. As a result, the value is now shifting towards experiences that cannot be replicated by machines.
Live events, such as music concerts, sports games, and social gatherings, have been attracting higher prices and are experiencing increased demand. These events provide a unique experience that cannot be replicated through digital means alone.
In summary, the author argues that in the AI boom, the winners are not confined to the world of AI technology. Instead, they recommend focusing on two key areas: the critical materials that support AI development, and the value of physical experiences and human interactions. By investing in these areas, one can potentially benefit from the evolving landscape and the shifting dynamics of the economy.
Written by urgent.news from Fast Company's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
