Tesla’s Optimus bot on display at the 2024 World AI Conference and High-Level Conference on Global AI Governance held at the Shanghai Expo Exhibition and Convention Center on July 7, 2024.
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Ark Invest founder and CEO Cathie Wood said Tuesday that artificial intelligence has the potential to accelerate the development of humanoid robots.
Speaking to CNBC on the sidelines of the Future Investment Initiative (FII) in Riyadh, Saudi Arabia, Wood said machines that resemble humans in size, shape and movement could represent one of the biggest opportunities for AI.
“I know many people are concerned about the ‘AI hype,'” Wood said. “But we think this investment will pay off as we look to the future, particularly to robotaxis and embodied AI that will completely change the world of transportation, and perhaps one of the most profound applications of AI: healthcare.”
She added, “I think the tracker will be a humanoid robot, and I think that’s going to be the biggest of all the embodied AI opportunities.”
AI-powered humanoid robots have long captured the human imagination, and companies are rushing to produce machines that will revolutionize sectors from healthcare and personal assistance to retail.
However, investors have traditionally been skeptical of emerging technologies, especially when it comes to delivering economically justifiable performance in real-world situations.
tesla CEO Elon Musk is a big fan of this concept. In fact, the tech billionaire said last month that Tesla’s Optimus robot will eventually account for about 80% of the electric car maker’s value.
The top holdings in Wood’s ARK Artificial Intelligence & Robotics UCITS ETF are Tesla (9.16%), Palantir (7.02%), and AMD (6.14%).
Improved productivity
“What I think is that on the enterprise side, it’s going to take a while for large enterprises to be ready to transform. To really take advantage of the productivity gains that we think AI will bring, it’s going to take companies like Palantir going into the largest enterprises and really restructuring them,” Wood said.
“In the consumer space, consumers love all of this. I think we’re all looking forward to having personal assistants doing the shopping for us,” she continued. “I’m really excited about how much AI can improve our productivity, not just in shopping, but as individuals. We’re already seeing an impact on the research side.”
Wood also warned of the possibility of an AI-related “reality check” in the near term, saying that the rise in Big Tech valuations would be reasonable over a five-year time horizon.
