ARK Invest: Big Ideas 2024 ITK with Cathie Wood

Tech trends can take on a life of their own. That’s especially true if the trend has the power to make some big transformative changes to the economy.

For instance, the rollout of the internet in the 1990s helped unleash a massive productivity boom. It was felt among all sectors of the economy. And higher productivity helped boost the real economy and increase wages. Today, AI offers a similar promise.

Late 2022 saw the release of Chat GPT, a form of generative AI. While such AIs have been in development for years, the sudden wide access of this technology has been transformative.

Now, the global equity market value associated with disruptive innovation could soar from 16 percent of the market to 60 percent by 2030.

Plus, the costs of training new AIs could drop 75 percent by 2030. That’s thanks to improving AI software, as well as improved hardware better equipped for AI’s rollout.

The rise of AI is just one part of the increasing digitization of the economy.

Rising smart contracts and other applications using blockchain technology could soar in the coming years. Smart contracts could generate annual fees of over $450 billion in less than a decade.

Plus, investor interest in cryptocurrencies such as bitcoin is still in its early stages. That’s why the crypto may soar to $250,000 or more by the end of the decade.

To look at some of the big trends driving 2024 through the end of the decade, click here.