Michael Jordaan, Bank Zero chairman, has said that AI would fundamentally change the world and businesses must learn to adapt to this new reality.
“I think businesses that don’t lean into AI, those that don’t start using it for decision making, may not be around in 5 to 10 years,”
Jordaan revealed during The Money Show with Bruce Whitfield.
According to Jordaan, the introduction and adoption of ChatGPT greatly indicates that the long awaited “age of machine learning has arrived”.
ChatGPT is an artificial intelligence chatbot with over 100 million users launched by OpenAI in November 2022.
Companies that use AI technology will be able to make better decisions compared those ones that do not.
Jordaan’s walked the talk by launching two investment funds with the responsibility of investing in companies using AI technology to run the company. He has partnered with Willem Roos, Nic Kohler, and Roger Grobler in the venture — a team that has been investing together for 8+ years.
Their latest fund, AI Capital, was launched in Singapore and will be looking to invest in Africa, and Asia.
Jordaan has also backed AI Asset Management, a venture that uses mathematical and statistical methods to guide and automate investment decisions.
Jordaan said AI would become ubiquitous, indispensable, and powerful across the modern world, and its no use fighting this seemingly growing trend, rather we should lean in.
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