Miller's team compared AI's growth with past tech waves, finding consistent growth rates.
In fact, the generative-AI wave looks a lot more like past tech waves than its revolutionary capabilities would suggest.
That "rule of three" theory puts the value of the AI wave at about $20 trillion.
Miller likened the AI wave to the mobile wave in about 2009, when there were few applications for the iPhone.
"So the question is if compute is the primary underlying driver of economic activity, economic growth, economic opportunity, then there's an argument that it's actually bigger."
Persons:
Ben Miller, Miller, Nvidia wouldn't, —, Jensen Huang, Everybody's, Anthropic's Claude, Fundrise, shortsighted, it's, We'll, they're
Organizations:
Nvidia, Service, Cisco, Intel, Business, Adobe, AMD, Meta, Microsoft, Bloomberg, IDC