A simple way to look at the AI opportunity - Nick Patience

On the left-hand side you have automating the mundane; the automation of highly repetitive tasks, such as invoice processing, to which Robotic Process Automation (RPA) is being applied. This is anything done by someone using a keyboard, doing repetitive tasks over and over again such as invoice processing. One of the notable aspects of the market is the massive valuations these companies (Automation Anywhere, Blue Prism & UIPath being the top three) have received, especially given some of them are not startups – the youngest of those three is 14 years old. And there's not a lot of actual AI in there, beyond document understanding using NLP and other technologies but more is coming. But they scratch a current itch and are benefitting from it. On the right-hand side, you have automating the complex, the most notable example of which is autonomous vehicles, such as Alphabet's Waymo and eventually, Tesla.