Story of the month
Rarely has a technological innovation met with such a great response in such a short time as ChatGPT. In the first five days after its public launch at the end of November, the chatbot gained one million users; two months later, it had 100 million.
ChatGPT is an AI-driven text-based dialogue system (conversational chat) that can answer questions posed by human users in writing. We believe that a huge market is emerging for content generation through artificial intelligence (also called "generative AI"). All industries will be affected by this, whether by reorganizing workflows, achieving major productivity gains, or opening new business opportunities. Many companies selected based on our quality approach are already using AI today - in addition to the well-known AI companies from the technology industry, lesserknown companies from other sectors are also benefiting from AI development, as the following examples show.
Professional information service providers such as the British RELX * already have many years of experience in the use of state-of-the-art AI technology. Most recently, RELX reported on the integration of AI in "Lexis Nexis", a software for lawyers. Advantages of such professional databases are closed content (nonpublic legal sources), multiple daily updates and data continuously monitored by experts. The use of generative AI allows users to search faster in a secure and factually reliable environment for preparing cases or drafting correspondence including case references.
Companies in the semiconductor value chain benefit from the AI revolution in two ways. First, the fast processing and storage of huge amounts of data require a growing number of semiconductors and microprocessors. Secondly, artificial intelligence is increasingly being used in the development of highperformance chips, especially in the simulation process. The American company Synopsys *, with its suite " Synopsys .ai", is one of the most advanced suppliers of software for AI-supported chip development.
The use of artificial intelligence will also lead to considerable efficiency gains in medical technology. Manufacturers of state-of-the-art endoscope cameras such as the US company Stryker * provide surgeons with real-time assessments based on automatic image recognition, thus helping to minimize treatment errors. In the analysis of cell samples, equipment from renowned manufacturers such as Thermo Fisher* also apply image recognition technology as well as database-supported, machine learning-based diagnoses. The quality of prognosis is constantly improving, and the number of application areas should continue to increase in the future.
It is not yet possible to predict exactly how the use of generative AI will affect the economy and society. However, the examples suggest that for many companies the AI future has already begun, which is why investors would do well to keep an eye on this topic.
