Al, capitalism, & the great reshuffle: a conversation with Jim O'Shaughnessy

AI has been one of, if not the key drivers not only of market returns this year but also of global discourse. While artificial intelligence as currently used in software like ChatGPT has more in common with machine learning tools than with depictions of A.I. in popular media, it remains a powerful tool. So powerful, in fact, that it plays a key part in the “Great Reshuffle” envisioned by O’Shaughnessy Ventures CEO Jim O’Shaughnessy.

VettaFi financial futurist Dave Nadig sat down with O’Shaughnessy to discuss his view on this Great Reshuffle and the winners and losers therein. The duo also spoke about O’Shaughnessy’s fellowship program that looks to support people “doing fascinating work,” as well as his excitement and concern about artificial intelligence overall.

O’Shaughnessy founded O’Shaughnessy Asset Management in 1988, which eventually was acquired by Franklin Templeton. O’Shaughnessy joined the board of directors for Stability AI as its Executive Chair in 2022.

Nadig, O’Shaughnessy on Stability AI, Artificial Intelligence Show Notes

1:00: O’Shaughnessy on the Great Reshuffle

2:00 Cultural lag on the internet and in how humans adopt technology

3:00: Did the pandemic accelerate the Great Reshuffle?

4:00: Young vs old knowledge workers and remote work

5:15: Winners and losers in the Great Reshuffle

6:15: Authenticity vs. PR / Corporate Speak in the Great Reshuffle era

7:15: Physical world workers vs. low level knowledge workers

9:00: The Great Reshuffle and AI impact on asset management

10:00: An explosion of quant research using artificial intelligence techniques

11:00: A patronage model for capitalism and Francis Bacon’s “Utopia”

13:00: Twelve fellowships a year to people doing fascinating work

16:00: How does O’Shaughnessy benefit – or not – from the fellowships?

17:15: The Great Reshuffle inflection points – open or closed

18:45: What are legitimate concerns for the average member of the public to have about AI?

20:00: Deepfake videos and AI scam calls to seniors: AI challenges

21:00: Fire is dangerous, but cooking food gave humans prefrontal cortexes

22:00: Problems with people vs. problems with AI

25:00: AI tutors as a positive use of artificial intelligence

27:00: The AI agent on every cell phone

28:00: Siri, but actually good

30:00: Trying to prevent a split between have and have-nots in artificial intelligence

33:00: Larger tech firms offering artificial intelligence tools as part of the overall package

34:00: Is intellectual property or NVIDIA chipmaking the next big part of AI work?

35:00: Humans vs. AI in tasks with hundreds of millions of data points

38:00: Euro or Amero-centric AI models and the idea of a world of models

40:00: Corporate demand for open-source models

42:00: The “Wand” company tool for artists that uses artificial intelligence

43:30: What gives O’Shaughnessy the most hope for the future? The Human Colossus

45:00: The creative tsunami to make the Renaissance look like a walk in the park