The Global Incomprehensible Utility
Machine Learning (ML) automates prediction. The amount and variety of data, powerful and usability of models, and implications for investing will continue to increase. A key implication for investors is that ML is not an industry. ML is a utility that is increasingly embedded inside the global digital infrastructure. By utility we mean that it is exceedingly cheap and available to everyone through natural monopolies just like water and electricity. However, unlike traditional utilities, ML driven forecasts are, by design, not fully understood by their developers. As a result, everyone in the world will increasingly be reliant upon and incentivized to change behavior by a global utility that is increasingly incomprehensible.
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