I did my doctoral dissertation on artificial intelligence back in the Stone Age of computer science during the first wave of AI . It’s quite amazing to see what can be done with today’s computing power and inexpensive storage that was unimaginable then.
But your panelists omitted some important points worth noting: 1) The programs have a tendency to hallucinate. Try this: “Write an obituary for [your name] that describes [his/her] career and family.” 2) Many queries, such as those related to the weather, sports scores, or investment choices, need access to real-time data to generate a meaningful response. That’s expensive to collect and maintain.
Add in the related artistic and ethical issues, and it’s clear that artificial general intelligence isn’t in our immediate future.Regarding “It Will Be Earnings—Not Bond Yields—That Finish 2023’s Rally” , Randall W. Forsyth has it exactly right. Earnings over a period of time determine the overall health of an individual company. Aggregate earnings of a large group of companies determine the health of the economy. The Fed controls only the money supply and interest rates.
That sector, consisting of both master limited partnerships and C corporations, provides not only stability and, lately, capital growth, but also tax-deferred, irrationally high yields and enhancing balance sheets with constant lowering of leverage, and increases in equity buybacks.I agree with Andrew Bary that both BioNTech and Moderna can boost my portfolio in a short time .