AI has gone fully hyperbolic. Not the stocks or investment profits – though they surely leapt in recent years. The chatter, hype, extreme claims. Headlines herald an impending β€œtsunami,” β€œadapt-or-die” moments and looming β€œapocalypses” for jobs, industries … even humanity.

Reality check: understanding AI’s investment implications means muting hype and fathoming the Four β€œn’s”: nuance, necessity, newness and nuisance.

First, I know not just how AI’s evolution plays out. No one does. Thinking otherwise is hubris. That hasn’t stopped pundits and β€œexperts” from offering myriad far-flung (often dystopian) theories since I last addressed AI in July 2023. They foretell fast, overwhelming, usually negative change.

Most repeat a centuries-old error: thinking innovation will only destroy and not create

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