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Artificial intelligence has created an uncomfortable question for companies whose businesses depend on selling information: What happens when AI can find, summarize, and synthesize enormous amounts of data almost instantly?
Bill Ackman seems to believe investors are asking the wrong question. The billionaire's Pershing Square added ICE (Intercontinental Exchange), the owner of the New York Stock Exchange, to its portfolio, which also included Netflix, Visa, Mastercard, Alcon, and S&P Global.
The ICE investment is especially intriguing, since Ackman is not just counting on additional stock market transactions.
Pershing's premise is that artificial intelligence may add value to ICE's exclusive financial data, since most of that data cannot be scraped off the internet and recreated by a chatbot.
