With President Donald Trump having returned to power, one of the first things he has done is revoke a 2023 executive order signed by Joe Biden seeking to reduce the risks that artificial intelligence posed to consumers, workers, and national security. The revoke marks a significant shift in federal oversight of artificial intelligence technology.
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According to Biden’s orders, developers of AI systems posing risks in any way to the US government, the economy, or even public health or safety, needed to share the results of safety tests with the government, which was in line with the Defense Production Act.
The order also required agencies to create orders for testing and address related chemical, biological, radiological, nuclear, and cybersecurity risks. As of now, all key safety and transparency requirements for AI developers have been revoked.
While it is currently unclear how the Trump administration will handle rules and regulations regarding AI, it is likely to be more of a “hands-off” approach. Regardless of how it is handled, the one clear thing is that this technology will continue to be extremely transformative.
As quoted by CEO of Abu Dhabi sovereign wealth fund Mubadala to CNBC at the World Economic Forum in Davos, the world has yet to completely recognize the extent of change AI will bring to every aspect of human life.
“In terms of the risks … this is a technology that no one today really appreciates, truly the level of disruption that it’s going to create, affecting everything from our lives, our businesses, human capital, employment, and every sector is going to be disrupted. And I think that while there’s a lot of opportunity, it also presents significant amount of risk, which is today unclear, because the technology is moving so fast and we’re all trying to catch up as much as possible”.
-Khaldoon Al Mubarak, managing director of the $330 billion fund, told CNBC’s Dan Murphy.
Al Mubarak is also optimistic about the future of AI and the UAE’s ability to leverage its investment strategy.
“The demand is going to be profoundly high in terms of the enablement of that technology. That means “the technology, the AI enablement, which is the infrastructure side of it — be it energy, be it transmission, but also all forms of technology, of energy technology that’s going to help fuel this huge demand, I would also add to that data center build-out, chip build-out.”
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10. Tempus AI, Inc (NASDAQ:TEM)
Number of Hedge Fund Holders: 7
Tempus AI, Inc (NASDAQ:TEM) is a healthcare technology company that provides AI-enabled precision medicine solutions. On January 21, the company announced the national launch of olivia, an AI-enabled personal health concierge app. Olivia helps to empower patients by fetching their health-related data into one central location and leveraging advanced AI to provide actionable insights. By centralizing health data and making it accessible and actionable through AI, Olivia helps patients keep all of their data onto a unified platform. Patients will have the ability to connect to over 1,000 health systems through Electronic Health Record (EHR) integration, sync data through health devices, and even manually update their health records. This data, organized into a dynamic timeline, can then be shared with a patient’s care team. Olivia is also capable of leveraging AI to allow patients to ask questions about their records, summarize health information, and receive responses based on their data. It can also connect to external sources for personalized insights.
“At Tempus, our goal has always been to improve patient outcomes by harnessing the power of data and AI. Now, as AI becomes increasingly integrated into healthcare, tools like olivia will be essential in helping patients understand and navigate their care. This app goes beyond organizing information; it’s a proactive partner empowering patients to steer their health with confidence and clarity”.
-Eric Lefkofsky, Founder and CEO of Tempus.
9. UiPath Inc. (NYSE:PATH)
Number of Hedge Fund Holders: 29
UiPath Inc. (NYSE:PATH) is a well-known software as a service (SaaS) enterprise that offers robotic process automation and artificial intelligence software. On January 21, Bryan Bergin from TD Cowen maintained a Hold rating on UiPath with a price target of $16.00. Several factors associated with UiPath’s current position and future outlook are responsible for the Hold rating. First, the company has demonstrated positive signs after its recent restructuring effort. The automation software developer cut 10% of its global workforce as part of its broader restructuring plan. It is now demonstrating increased clarity and focus, particularly in its agentic AI and go-to-market execution. Despite these promising developments, caution is still being exercised since the developments are expected to take time to reflect in valuation metrics. The firm’s rating also accounts for UiPath’s financial outlook. The firm is positive about potential growth areas like the SAP Solex partnership and test automation suite, but overall ARR growth is expected to moderate. In conclusion, investors are looking for clearer signs of successful restructuring execution and stabilization in growth.
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