Artificial Intelligence

The potential opportunity and threat presented by new capabilities in AI became the center of a ubiquitous global conversation in 2023, with wide-reaching implications for industry, geopolitics, labor, education, and beyond. TD Cowen estimates AI deployments could yield $800 billion to $1.7 trillion in U.S. productivity gains alone, saving 8-16% of U.S. labor costs and replacing 10-20% of worker tasks for 80% of the U.S. workforce. We believe companies developing AI technologies could potentially capture 20-30% of these savings, which would represent an initial AI tech spending addressable opportunity of $166 to $500 billion. These numbers only begin to hint at the significance of this technological development, which we believe is comparable to the emergence of the Internet 30 years ago. 

What we’re watching 

• Opportunities for the cloud industry
• Impact on the internet and search
• Data center and cloud computing architecture
• Drug and therapeutic discovery
• Regulation or legislation to govern AI
• Security and defense applications