May 26, 2023
AI is going to bring 'profound' change to companies: Investment expert
, BNN Bloomberg
AI is the biggest market catalyst ever and it's just getting started: JMP Securities Lehmann
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The chief executive officer at JMP Securities, an investment banking and asset management firm, predicts that the average investor should be prepared to see a vast change in how companies will operate with the use of artificial intelligence.
“These (tech) companies are adapting, they’re changing with the times, and a lot of the viewers, and a lot of us, didn’t hear about this future with ChatGPT and AI and all the things it's going to promise even three to six months ago,” CEO Mark Lehmann told BNN Bloomberg in an interview on Friday.
“It’s a reminder of how much innovation is really going on,” he added.
On Thursday, Nvidia Corp. revealed a surging revenue forecast on the back of AI capabilities, sending the chipmaker to the precipice of a US$1 trillion market capitalization and causing the stock to reach all-time highs.
Lehmann foresees considerable change to come not just in the technology space but also across many sectors through the use of AI.
“The impact on health care, the impact on consumers, the impact on all the things manufacturing, is going to be so profound,” he added.
“We may not think it’s impacting our lives because we don’t see it and feel it — but it is. And clearly it’s impacting the companies that are benefiting from it, and the revenue that these companies are benefiting from,” he added.
Lehmann noted its difficult to predict exactly which companies will flourish the most in the long run, but reiterated that there will be winners and investors who will be handsomely rewarded.
“At times when we feel pessimistic about the market you have these opportunities as to why to stay invested,” he said.
He sees the most promise in smaller companies that are often times disregarded by investors as the most opportune investments.
Some names he finds promising in terms of future AI capabilities are European based SAP Software Solutions (SAP), Snowflake Inc. (SNOW) and Cloudflare Inc. (NET).
“This is the future,” he said.
“These (tech) companies are adapting, they’re changing with the times, and a lot of the viewers, and a lot of us, didn’t hear about this future with ChatGPT and AI and all the things it's going to promise even three to six months ago,” CEO Mark Lehmann told BNN Bloomberg in an interview on Friday.
“It’s a reminder of how much innovation is really going on,” he added.
On Thursday, Nvidia Corp. revealed a surging revenue forecast on the back of AI capabilities, sending the chipmaker to the precipice of a US$1 trillion market capitalization and causing the stock to reach all-time highs.
Lehmann foresees considerable change to come not just in the technology space but also across many sectors through the use of AI.
“The impact on health care, the impact on consumers, the impact on all the things manufacturing, is going to be so profound,” he added.
“We may not think it’s impacting our lives because we don’t see it and feel it — but it is. And clearly it’s impacting the companies that are benefiting from it, and the revenue that these companies are benefiting from,” he added.
Lehmann noted its difficult to predict exactly which companies will flourish the most in the long run, but reiterated that there will be winners and investors who will be handsomely rewarded.
“At times when we feel pessimistic about the market you have these opportunities as to why to stay invested,” he said.
He sees the most promise in smaller companies that are often times disregarded by investors as the most opportune investments.
Some names he finds promising in terms of future AI capabilities are European based SAP Software Solutions (SAP), Snowflake Inc. (SNOW) and Cloudflare Inc. (NET).
“This is the future,” he said.
