Economic Information Daily, special report on the 2nd: Bill Ackman, renowned investor and founder & CEO of Pershing Square Capital Management, said the rise of artificial intelligence (AI) and its applications has changed the way he views companies, as AI greatly increases the risk of industries suffering disruptive shocks.

   Ackman said on the online program "The Knowledge Podcast" that when evaluating investment targets, he considers whether he would still be willing to hold shares in a company "even if the stock market shuts down for 10 years." He said investors must examine the businesses they invest in and think about how AI could disrupt them.

   He pointed out that "focusing on the revenue generated by a business and anticipating its prospects 10 or 20 years from now is crucial." He is now especially cautious when assessing a company's "moat," as some businesses might cease to exist due to AI disruption.

   He said AI brings opportunities, making previously unattainable businesses more feasible, and noted that the pace of AI advancement is "far beyond anything I've ever seen before."

   Ackman also revealed that Pershing Square uses artificial intelligence for investment research. (yc)