When artificial intelligence research organization OpenAI launched ChatGPT, a free-to-use advanced chat bot capable of generating text using natural language processing, at the end of 2022, the idea of artificial intelligence and its place in our society took the world by storm. With public, free access to artificial intelligence (AI) systems, discussions surrounding AI were no longer limited to people in the tech field; chances are, even your next-door neighbor and mailman now had an opinion on the rapid advancements in AI technologies. For many people, ChatGPT was an introduction to the possibilities of AI – and it is only merely scratching the surface of its full capabilities.
Even though the world of AI seemed to explode in terms of mainstream relevancy and advancements to the average person in the years of 2022 and 2023, the field of AI has a rich history dating back to the 20th century – in fact, the “golden age” of artificial intelligence research is often credited to the years 1956 to 1974. The concept of creating intelligent machines that are capable of advanced operations dates back even further to the 18th and even 17th century. All of this is to simply say: AI is a notion that has long been of interest to humanity, and is already deeply embedded in our day-to-day habits and operations. It doesn’t seem to be going anywhere anytime soon, especially in a world so dedicated to the simplification and efficiency of daily life.
Celebrities Want a Piece of the AI Cake
Members of Hollywood were quick to join in the conversation surrounding AI advancements. In January 2023, actor and businessman Ryan Reynolds created an advertisement for Mint Mobile, the script for which was entirely generated by ChatGPT. American businessman and former CEO of Microsoft Bill Gates took to his online blog in March 2023 to marvel at the rapid advancements in AI and the numerous benefits it could conceivably bring to humanity. “The development of AI is as fundamental as the creation of the microprocessor, the personal computer, the Internet, and the mobile phone. It will change the way people work, learn, travel, get health care, and communicate with each other,” he reflects. At the beginning of 2023, it was reported that Microsoft was investing $10 billion into OpenAI.
In the past few years, more and more celebrities have proudly shared their involvement in the evolving world of AI, openly investing in various AI start-ups, machine learning companies and other AI projects, including Leonardo DiCaprio, will.i.am, Dr. Dre and more. Actor Ashton Kutcher co-founded venture capital firm Sound Ventures, which has invested in AI companies OpenAI, Stability AI and Anthropic. In May 2023, the firm announced a fund worth $240 million for investments in AI. “This is going to change business forever, and we need to embrace it because, right now, this AI can be used to improve humanity,” Kutcher reflects, referring to the use of AI in the health care and law fields to make crucial resources more easily accessible to people, both in terms of ready availability and affordability.
It’s clear that the uber-rich seem sold on the future of AI and the benefits it could bring to our lives, and their multi-million dollar investments go far to prove it. Why are these celebrities so interested in artificial intelligence, and how can we expect to see it change our lives?
Why Investing in Artificial Intelligence is Worth It: What’s So Great About It?
When we think of artificial intelligence, many people imagine giant tech companies, foreign computer algorithms and robots that are too smart for their own good. In reality, AI is already all around us in our modern Western world, and plays a large part in our day-to-day lives in ways you might not realize. AI technology helps your car sense objects and other vehicles on the road during your commute, allows programs like ChatGPT and DALL-E to streamline your office work throughout the day to lighten your workload, and makes playing your favorite music from your Alexa at the end of the day as simple as speaking aloud: “Hey Alexa, play The Beatles” – a band who, by the way, just released their newest single “Now and Then” 45 years after it was written by John Lennon, all thanks to significant advancements in AI. It is already a major part of our lives, and advancements in AI technologies only continue to grow and improve exponentially in a number of sectors, including marketing, healthcare, transportation, education, manufacturing and more.
Celebrities That Are Making Headlines for Their AI Investments
American rapper Jay-Z co-founded Marcy Venture Partners in 2018, which has invested in Stellar Pizza, a California-based restaurant serving pizza pies handcrafted by robots. Former SpaceX scientists started the project back in 2019, and each pizza is ready within 45 seconds, ensuring quick and affordable service. The food robot industry is steadily growing, and investments like Jay-Z’s ensures the future of AI-food technologies, which are favorable for their efficiency and low labor costs. Stellar Pizza hopes to disrupt the giants of the American pizza industry, such as Domino’s and Pizza Hut.
Music legend Elton John has invested millions of dollars into AI, including music tech company Audoo and a generous $6.5 million investment into the AI company Qloo. According to their website, Qloo describes itself as A privacy-first API that predicts global consumer preferences and catalogs hundreds of millions of cultural entities “a privacy-first API that predicts global consumer preferences and catalogs hundreds of millions of cultural entities”.
Actor Leonardo DiCaprio is well known for his climate change concerns and efforts, as well as his extensive environmentalism work. He serves as the Strategic Advisor for the venture firm Regeneration VC, which partnered with recycling analytics startup Greyparrot in early 2023, investing $1.6 million into their company and environmentalism efforts. According to their website, Greyparrot uses “comprehensive AI waste analytics [to] enable automation in sorting facilities, and increase transparency at each stage of the global value chain”. Their work aims to “help recycling facility managers and producers recycle more and waste less”.
Robert Downey Jr.
In 2019, Marvel actor Robert Downey Jr. announced The Footprint Coalition, a venture fund dedicated to using “storytelling and media, science and technology, and strategic investments to accelerate the adoption of technologies that build a future of sustainable abundance”, according to their website. The fund has invested in a number of tech companies specializing in reducing and reversing the impact of climate change on our planet, including ClimateAI, which Footprint Coalition describes on their site as having “developed modeling tools to determine what the weather will be months to years in advance”. This technology allows companies to protect their supply chains, reducing the chances of food shortages and other supply chain interruptions.
How Hollywood’s Involvement in AI Stocks and Development Changes the Game
Celebrity investments and endorsements – whether in the AI sphere or elsewhere – have an undeniable impact on their respective industries. When celebrities with an established following and fan base choose to invest and speak about their generous investments in AI projects, they influence their fans to educate themselves on these topics and perhaps involve themselves in any capacity possible. Someone may not be concerned with AI development in their day-to-day life, but when their favorite actor or musician is suddenly speaking about their faith in the AI industry and sharing their substantial monetary investments in it, they may be more inclined to learn more about the benefits of AI themselves.
Major celebrity investments in the world of AI translates not only into wider public reach and broader social awareness, but also – evidently – major financial contributions and opportunities for start-ups. AI companies rely on the financial support of millionaires and billionaires within the celebrity sphere for the ability to continue funding their projects and advancing artificial intelligence technologies for the benefit of us all.
How Can Your Business Benefit from Investing in AI?
“If you were a commerce company 10 years ago and you didn’t embrace eCommerce, you’re probably not in business anymore,” Kutcher speculates, “and I firmly believe if you’re a company today and you’re not embracing the changes that are taking place with AI, you’re going to be behind and you’re going to have trouble catching up.” Whether we like it or not, the age of AI is upon us – and business owners would do well to find the best ways to incorporate the invaluable tools it offers to companies in a wide range of sectors. There are several ways that your business can benefit from investing and implementing AI into your operations:
Streamlines Operations and Increases Efficiency
AI tools help businesses and companies streamline their operations, often with a focus on mastering repetitive and monotonous tasks such as data collection and entry. This redirection of tasks towards intelligent machines and computers allows for a more efficient workflow by minimizing the workload of individual workers, reducing costs and saving time.
Minimizes Errors and Maximizes Precision
The use of AI in businesses and workplaces reduces the chances of human error, increasing accuracy and precision during tasks and allowing for a more rigid adherence to certain standards and protocols.
Allows For a Competitive Edge and Continuous Innovation
Businesses that stay up-to-date with artificial intelligence technologies perform at their highest potential and increase the chances of new and improved products and services, allowing themselves the chance to stay ahead of competitors. This dedication to continuous innovation through AI integration ensures a solid competitive edge.
As AI continues to evolve and take on new forms every day, it seems that it will only grow to become more and more embedded into our lives and professional practices. Several markets and avenues still remain dominated by human intelligence, however, especially in creative fields, and there stands a nuanced tension between the convenience and ease of AI technologies versus the authenticity and sincerity of human work. In the field of digital marketing, AI still has a ways to go before we can consider digital marketing services provided by robots to be of equal value to services provided by real human brains.
At RankWorks, our digital marketing experts offer years of knowledge and expertise to help formulate the best online marketing strategy for your unique business. From tailored SEO services – including keyword-rich content writing, backlinks and more – to social media management and web development, we have everything you need to help boost your business to new heights. Reach out to our team for a complimentary consultation, and learn more about how we can take your business to the next level.