Latest / Best of Business / Andrew Curtayne: Milford Asset Management expert on what Anthropic's Claude AI is doing to the markets

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Andrew Curtayne: Milford Asset Management expert on what Anthropic's Claude AI is doing to the markets · Best of Business

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  Speaker 1: You're listening to a podcast from news talk s B
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  Speaker 1: follow this and our wide range of podcasts now on iHeartRadio.
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  Speaker 2: Joining me now is Andrew Kurtain Milford, ASCIDT Management, Hi,
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  Speaker 2: Andrew igniting Heather Right, what is the latest with the
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  Speaker 2: stock markets and the AI tools.
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  Speaker 3: There's a lot going on underneath the surface this year.
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  Speaker 3: I think a lot of people maybe just look at
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  Speaker 3: it the headline market, which has sort of been flapped
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  Speaker 3: to moderately higher, But beneath the surface, there's a huge
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  Speaker 3: amount of change going on. So the key key development
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  Speaker 3: over the last couple of weeks has been this AI
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  Speaker 3: model which is called Claude, which is produced by company
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  Speaker 3: called Anthropics, the second largest large language model company in
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  Speaker 3: the world. Has released this amazing upgrades to their model
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  Speaker 3: and it's called chlord Code and another version of it
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  Speaker 3: called clud Cowork, which is basically changing how people look
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  Speaker 3: at using AI in the workplace. So I think until
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  Speaker 3: now people sort of look to AIS kind of like
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  Speaker 3: a chatbot. You use it personally, a few questions, it's
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  Speaker 3: kind of cool, but it doesn't really change much. I
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  Speaker 3: think we've finally got to the point where AI has
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  Speaker 3: got to the point that can be used daily in
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  Speaker 3: your jobs, that can replace what you're doing. It can
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  Speaker 3: potentially mean you're going to save hours and hours out
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  Speaker 3: of your day, a compettion mean you might lose your
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  Speaker 3: job because it's going to be so good that you
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  Speaker 3: don't actually need certain people. And so it's really having
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  Speaker 3: a big impact on the market. It sent things into
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  Speaker 3: a little bit of a tailspin. Just to give you
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  Speaker 3: some context, some of the largest software companies in the
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  Speaker 3: world are down fifty percent here today, it's in about
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  Speaker 3: six or seven works. Wow, So what.
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  Speaker 2: Sort of companies are winning and losing on the back
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  Speaker 2: of this.
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  Speaker 3: So at the moment, the market's treating the losers as
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  Speaker 3: companies which generate revenues from operations which are primarily able
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  Speaker 3: to be disrupted by artificial intelligence, and it's generally white
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  Speaker 3: collar workforce companies. So software is the sort of primary
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  Speaker 3: candidate at the moment. They generate mostly their revenues sending
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  Speaker 3: software products which are built by a bunch of engineers
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  Speaker 3: and coders which develop it. Or AI is showing that
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  Speaker 3: it can actually very efficiently code and develop software products.
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  Speaker 3: So yeah, all those companies are getting torched at the moment,
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  Speaker 3: and then over the last week or two, it started
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  Speaker 3: spreading into a lot of other companies. You wouldn't think
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  Speaker 3: it would hit insurance, Bokus, financial advisors, companies that sell
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  Speaker 3: information or data. So basically anything that doesn't produce a
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  Speaker 3: physical product and seems ripe for AI to come in
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  Speaker 3: and actually replace what they do.
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  Speaker 1: Wow.
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  Speaker 2: Okay, So on the carry the.
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  Speaker 3: Winning side, because there are there are a few that
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  Speaker 3: are winning on the winning side if you kind of
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  Speaker 3: take the view of the world that ALI is going
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  Speaker 3: to make every company that's sort of digitally based potentially
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  Speaker 3: at risk, or what you want to do is by
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  Speaker 3: companies that produce physical or real assets. So you've seen
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  Speaker 3: infrastructure companies up perform, natural resources companies such as miners,
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  Speaker 3: even oil stocks are up performing. And of course companies
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  Speaker 3: that are producing the physical assets that go into AI
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  Speaker 3: data centers, like the chips and the and the bear
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  Speaker 3: metal that goes into producing the data centers and.
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  Speaker 2: Sales outside of the stock market itself, are they likely
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  Speaker 2: to be any large impact on our daily lives this year?
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  Speaker 3: Yeah, it's an interesting question because at the moment not really,
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  Speaker 3: but I predict that sort of throughout twenty twenty six
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  Speaker 3: we will start to see more and more impact. I
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  Speaker 3: think it's going to start for everyone in white collar
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  Speaker 3: jobs are going to be almost forced to start using
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  Speaker 3: AI more and learning it because everyone else surroundman is
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  Speaker 3: going to be doing. So it becomes a bit of
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  Speaker 3: a competitive thing that you need to know how to
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  Speaker 3: use it and implement it in your day to day job.
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  Speaker 3: And then I think probably the bigger impacts could be
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  Speaker 3: sort of looking more than twenty seven twenty eight. I
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  Speaker 3: think at this point you may start to get to
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  Speaker 3: the point where there's lots of job losses coming from AI.
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  Speaker 3: Certain jobs that you know are more about sort of
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  Speaker 3: data mining, data replacement, analytical work that is easy to replace,
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  Speaker 3: those people could be at threats. So yeah, there's some
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  Speaker 3: potentially quite worrying medium term implications here that could cause
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  Speaker 3: sort of widespread job losses and a massive relocation of
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  Speaker 3: how labor works in the workforce.
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  Speaker 2: Okay, so we've got in video reporting tomorrow. What are
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  Speaker 2: we expecting.
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  Speaker 3: I'm strong as I I think Lividya is pretty well
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  Speaker 3: positioned still with his AI build out. It still produces
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  Speaker 3: the best AI chips in the world, and at the moment,
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  Speaker 3: demand for AI chips is basically at peak all time levels.
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  Speaker 3: It's accelerating a huge amount over the last of the
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  Speaker 3: three to six months. So we speak strong numbers from Nvidia.
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  Speaker 3: Does the share price go up on those numbers? There's
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  Speaker 3: more of a question. I think got such a big
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  Speaker 3: company now it's got a little bit of competitive threat
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  Speaker 3: coming from other companies. So yeah, sort of. My expectation
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  Speaker 3: is probably strong numbers, but we may not get a
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  Speaker 3: big share price pop on it.
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  Speaker 2: Yeah, brilliant. Hey, it's good to talk to Andrew. That's fascinating.
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  Speaker 2: Andrew Kurtain from Milford Asset Management.
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