The Future Is Shrouded in an AI Fog

HBR Staff/Mike Holford/Unsplash

AI’s rapid advance is creating new limits on leaders’ visibility into the short-term future and challenging the criteria they use to commit to forward-looking investments. Staring into

Confidence in a specific vision of the future is the foundation for long-term investment. You purchase a 30-year bond when you believe in the solvency of the issuer. You spend a decade to become a radiologist because you believe you’ll be compensated for your hard-earned expertise for the duration of your career. You invest in a software company when you’re confident it will generate many years of recurring revenue.