By AJ Fabino
Tigress Financial Partners Chief Investment Officer Ivan Feinseth recently shared his perspective on the blurred lines between hype and reality in artificial intelligence (AI), its burgeoning role across diverse sectors, and a few standout companies paving the way forward.
Tech leaders — Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), and Amazon.com, Inc (NASDAQ:AMZN) — will likely spearhead AI developments, but other sectors like farming and infrastructure will also join the revolution, he told Zenger News.
“Every company is going to have to be an AI company,” Feinseth quipped, drawing the quote from c3.ai Inc (NYSE:AI) founder Tom Siebel.
Like Siebel, Feinseth envisions a world where every company, irrespective of its core product or service, leverages AI to extract value from their data, thus gaining a competitive edge.
AI’s future will seep into the pharmaceutical industry for drug discovery and analysis, Feinseth predicts. He also envisions a future where traditionally non-tech companies, like Caterpillar Inc (NYSE:CAT) and Deere & Company (NYSE:DE), transform into AI entities.
The ongoing shift to AI is a necessity, primarily due to labor shortages and the younger generation’s declining interest in farming, he explained. AI will have to bridge the labor gap and boost crop yields, he added, citing a product demonstration by Deere at the Consumer Electronics Show two years ago featuring fully autonomous equipment.
Ingersoll Rand Inc (NYSE:IR), one of the largest manufacturers of compressors and vacuum pumps, is another potential AI beneficiary, Feinseth noted. Mongodb Inc (NASDAQ:MDB) and Monday.com Ltd (NASDAQ:MNDY) can see tailwinds, as they provide the tools to customize AI, allowing companies like Deere and Caterpillar to create proprietary solutions rather than relying on generic, off-the-shelf software.
The ability to create custom applications could be pivotal in differentiating companies in the increasingly AI-driven market, he noted.
Feinseth underlined that, whether it’s “hype AI” or “real AI,” AI’s influence is here and becoming an inevitable part of every industry’s future. It’s not about replacing humans with machines, but rather about creating an environment where the two can work together to boost productivity.
Produced in association with Benzinga