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Ark Invest CEO Cathie Wood visited Australia to discuss the future of AI, dismissing fears that the technology will lead to societal collapse. She also expressed confidence that the Trump administration would avoid heavy-handed AI regulation to remain competitive with China.
Why it matters
Wood's perspective highlights the ongoing debate between AI innovation and regulation, reflecting broader market sentiment regarding tech investment.
AI optimist investment manager Cathie Wood hits Australian shores M By Michael Janda
The past few days have seen a fair bit of concern about the prospects for AI: will it wipe out humanity, or should its development be slowed down?
The answer to both from fund manager Cathie Wood, the CEO and chief investment officer of Ark Invest , is a firm no.
"I'm happy that the leaders of the industry are advertising the risks associated with the technology," she told a small group of financial reporters gathered at a briefing in Sydney.
"Half of the solution is understanding the problem."
She argues that the so-called "frontier" large language models being developed by companies such as OpenAI and Anthropic (both of which Ark has invested in) are better at patching code vulnerabilities than they are at exposing them.
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