AI Just Had Its "iPhone Moment" ChatGPT launched in late November. Since then: - Microsoft (MSFT) – OpenAI’s biggest investor – has integrated ChatGPT’s technology into its Bing Search Engine, as well as its entire suite of productivity software, including Word, Excel, and PowerPoint.
- Alphabet (GOOGL) has launched its own ChatGPT competitor, an AI chatbot called Bard.
- Meta (META) has started work on its own AI chatbot and is looking to use AI to improve its advertising business.
- Amazon (AMZN) launched a $100 million fund for investing in AI startups.
- Salesforce (CRM) launched its own AI engine, dubbed Einstein, and created a $500 million fund for AI startups.
And just this week, on August 23, leading AI chipmaker Nvidia (NVDA) reported grand-slam earnings results, powered by seemingly unstoppable demand for its AI chips. Revenues topped expectations by more than 20%. Earnings topped expectations by more than 30%. And management said that in the upcoming quarter, revenues will be about $16 billion – more than the company made during the entirety of 2020.
Following the release of those blockbuster earnings, Wedbush Securities analyst Dan Ives wrote: “...Investors now recognize crystal clear [that] this AI demand story is as REAL as any tech trend we have seen in the last 30 years, only comparable to the internet in 1995 and Apple’s iPhone launch in 2007.” The AI Revolution is sprinting forward full-steam ahead.
It seems ChatGPT started a movement.
And it did so because of accessibility. A Staggering Technological Shift Is Underway When it comes to major technological paradigm shifts, the world doesn’t truly recognize their value – and they don’t truly go mainstream and change the world – until they become accessible to the masses.
The World Wide Web was invented in 1989 and went public in 1993. Most Americans were online by 2005. But we weren’t really using the internet and taking full advantage of all it had to offer until 2007 – when Apple launched the iPhone.
That device put the power of the internet in everyone’s hands for $600. It made the internet accessible. It unlocked a whole new degree of freedom and flexibility to experiment with the internet, learn about it, understand its value, and leverage it in beneficial ways.
Over the next decade, thousands of apps were created and launched across billions of phones, creating an entire Digital Economy that is now worth trillions of dollars.
It all started with the iPhone – the internet’s first truly accessible technology.
In the 15 years between the dawn of the internet and the iPhone’s launch, tech titans Amazon, Alphabet, and Microsoft aggregated a total combined market value of about $500 billion. 
Today, those three internet giants have a combined market value of nearly $5.4 trillion.
That means, in the 15 years since the iPhone launch, they’ve created $5 trillion worth of economic value. That’s 10X the total value they created before the iPhone’s release. 
By being the internet’s first truly accessible technology, the iPhone injected steroids into the already powerful Internet Revolution.
And right now, with the meteoric rise of artificial intelligence, history is repeating itself before our very eyes. |
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