Almost Everyone Is All In On AI. What does that mean for us?

Bryce here. Cody has me a write a daily market diary that I share with him and he thought that today's note I should share broadly, so here it is:

The belief that AI is Revolutionary and will be extremely transformative has essentially permeated the entire tech sector. When analyzing a company, we all ask what the company’s “AI Strategy” is. We all wonder, “Will AI help or hurt this company”?

And it’s not just analysts, the companies themselves are all at least considering strategy shifts to incorporate AI into their business. 

Every tech company of significance and every tech startup are investing in, developing, and integrating AI into their business. Has there been another technological development that impacted the strategies of literally the entire tech sector nearly all at once?

It took time for the existing tech companies to adopt PCs (IBM was famously reluctant).

It took time for existing tech companies to adopt the internet (MSFT, IBM, AOL (with its walled garden), and AT&T) were late to the game.

It took time for existing tech companies to realize the significance of the iPhone (looking again at MSFT and also Nokia, RIM, etc.).

The same is also true of the cloud (AWS existed for a long time before Microsoft Azure and Google Cloud took off).