ARK Invest’s Cathie Wood eyes explosive payoff in this AI application
Cathie Wood, founder and chief executive of ARK Invest, says embodied AI in the healthcare space is “one of the most profound applications of AI” which will be central to a productivity and innovation boom in the coming years. Wood told CNBC in an exclusive interview that ARK — which invests in disruptive technology opportunities — is now focused on pure plays in the innovation space. These span robotics, energy storage, AI, blockchain technology and “especially” multiomic sequencing in the healthcare space, which Wood says is “the most underestimated and underappreciated” of all the investment themes. Multiomic sequencing in healthcare involves pulling together genomics, transcriptomics, epigenomics, and other biological data in order to improve the accuracy of disease diagnoses and better personalize treatments. “Those are our five main areas. They involve 15 technologies, and we think they’re converging to create really explosive growth opportunities,” she told CNBC on the sidelines of the the ninth Future Investment Initiative (FII) conference in Riyadh on Tuesday. In a wide-ranging interview, Wood said she does not believe there is an AI bubble , but acknowledged that “of course” there will be corrections. The closely-watched investor expects a rising interest rate environment to provide a “reality check” for markets, but stressed the importance of a longer-term investment horizon as growth accelerates in this space. “I know a lot of people are worried about all the AI hype, but as we’re looking to the future, especially with embodied AI — which is all about robotaxis and transforming the world of transportation completely, and then healthcare, which is probably one of the most profound applications of AI — we think that this investment will will pay off.” She also praised U.S. President Donald Trump’s administration’s policies, particularly around taxation, manufacturing and deregulation, which she said would help foster a “productivity-driven boom.” “We think that that is going to turbo-charge innovation in a way that people do not appreciate right now,” said Wood. “We have a crypto and AI czar — never have had that before, and they are focused on business-friendly policies, inviting more foreign direct investment into the United States, especially in the manufacturing realm.” ARK Invest manages assets through both actively-managed ETFs and the ARK Venture Fund, which invests in public and private companies. The company is up more than 50% year-to-date.
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