Core Insights - The article discusses the potential of AI to create incremental demand and its implications for investment opportunities, drawing parallels with the previous mobile internet boom [1][5][35]. Group 1: AI's Current Market Dynamics - A significant portion of the U.S. economic growth is driven by data center investments, which raises concerns about whether these investments will lead to actual consumer demand or merely replace existing supply [5]. - Current AI applications primarily follow a substitution logic rather than creating new demand, as seen in examples like Perplexity and various AI-generated content platforms [2][3]. - The value chain's upstream players, such as Nvidia, are profiting significantly from the current AI trend, while many application-level companies struggle to monetize effectively [3]. Group 2: Understanding Incremental Demand - Incremental demand is defined as the increased willingness and ability of consumers to purchase more products or services [5][6]. - Consumer willingness to spend is heavily influenced by the effectiveness of advertising and information dissemination [6][8]. - Economic conditions, such as rising incomes during macroeconomic upturns, can lead to the emergence of new consumer demands [9][12]. Group 3: Historical Context from Mobile Internet - The initial wave of mobile internet growth was characterized by the introduction of smartphones, which increased user engagement and time spent on devices [17][19]. - Subsequent innovations focused on reducing delivery costs and enhancing service accessibility, allowing a broader audience to benefit from previously exclusive services [19][20]. - The evolution of mobile internet also saw a rise in new consumer needs as economic conditions improved, leading to a surge in new service offerings [21][23]. Group 4: Future Opportunities in AI - Future growth in AI may hinge on new devices that can further engage users, such as augmented reality glasses [27]. - Enhancing conversion efficiency through advanced advertising techniques is a potential growth area, as demonstrated by companies like AppLovin [30]. - Reducing delivery costs through AI can democratize access to services that were once only available to wealthier individuals, creating new market opportunities [32]. - The rise of "super individuals" or freelancers empowered by AI may lead to new consumer demands, although immediate large-scale consumption increases may not be guaranteed [33]. Conclusion - The article concludes that while AI has the potential to generate incremental demand, it may take time to realize this potential fully, similar to the mobile internet's evolution over nearly a decade [35].

Core Insights - The 2025 ASCO annual meeting highlighted the potential of artificial intelligence (AI) in cancer detection and treatment, emphasizing its role as a transformative technology comparable to steam engines, electricity, and the internet [1][2][3] - AI is projected to contribute approximately $20 trillion to global GDP by 2030 if applied across various industries, with significant implications for healthcare [2] Group 1: AI in Cancer Control - AI is helping to make cancer more controllable, with the ultimate goal of prevention and cure, aligning with ASCO's mission to conquer cancer through research and education [7][10] - The speaker shared personal experiences with cancer, underscoring the importance of effective treatment and the role of AI in improving patient outcomes [3][5] Group 2: Accelerating Scientific Breakthroughs - AI is accelerating scientific breakthroughs in drug discovery and early disease detection, exemplified by AlphaFold's ability to solve protein folding problems in months instead of decades [8][9] - Over 2.5 million scientists from more than 190 countries are utilizing AlphaFold, which aids in understanding cancer mutations and designing targeted therapies [8] Group 3: Enhancing Diagnosis and Early Detection - AI is being used to improve the quality of early cancer detection, with a deep learning model developed to identify small clusters of cancer cells in pathology slides, significantly reducing review time and increasing accuracy [9][10] - The collaboration between AI and medical professionals enhances diagnostic capabilities, potentially saving lives through early intervention [9][10] Group 4: Supporting Healthcare Services - AI is emerging as a key component in healthcare, with systems designed to assist healthcare professionals by managing administrative tasks, allowing them to focus more on patient care [11][12] - The ASCO guidelines assistant, developed in collaboration with Google, exemplifies how AI can streamline information retrieval for clinicians, reducing cognitive load [11] Group 5: Strengthening Cybersecurity - AI plays a crucial role in enhancing cybersecurity within healthcare organizations, which are increasingly vulnerable to data breaches [13][14] - The healthcare sector must prioritize privacy and security from the design phase, utilizing AI to detect and prevent data intrusions [14] Group 6: Future of AI in Healthcare - The potential of AI solutions is vast, with applications in scientific breakthroughs, improved healthcare delivery, and enhanced security, indicating a transformative shift in the industry [15][17] - The speaker encouraged embracing AI technology to stay at the forefront of healthcare innovation, highlighting the rapid pace of change and the importance of early adoption [15][17]