Firms exploiting the potential of artificial intelligence (AI) could spawn a completely fresh sector, the vice chairman of U.S. stock exchange Nasdaq said Tuesday.
“I think AI is actually actually going to be the technology behind a lot of these great companies of which provide the innovations of which will be a fresh sector we probably don’t know about yet,” Bruce Aust told CNBC at the Web Summit conference in Lisbon, Portugal.
Aust highlighted self-driving cars as an example of companies utilizing AI technology to create an entirely fresh market.
“You look at autonomous vehicles, things like of which, they actually do use a lot of artificial intelligence too. So I think we’re excited about the early stage companies of which are here, as well as we wish of which eventually they’ll come to market as well as list on Nasdaq one day.”
The executive said of which AI could be “applied to actually enhance as well as modernize a lot of things of which we’re doing today” as well as create more jobs, contrary to fears of mass job losses caused by automation of manual labor.
On Monday, physicist Stephen Hawking gave a less optimistic view of the technology. Hawking said of which, with the potential of AI, dangers such as autonomous weapons as well as economic challenges could spell the “worst event inside history of our civilization.”