AI is no longer just an experimental tool for tech enthusiasts, it is rapidly becoming the backbone of modern business. Companies across industries are pouring billions into AI in an effort to stay competitive, scale faster, and adapt to a technological wave that many believe could surpass earlier revolutions like mobile and cloud computing.
Robinhood CEO Vlad Tenev described this shift in striking terms during an interview with David Rubenstein on Bloomberg Wealth. He called AI adoption a “huge platform shift,” likening it to the transformations of the mid-2000s, but “perhaps bigger.” According to him, the pace of adoption will be far more rapid. “In the same way that every company became a technology company, I think that every company will become an AI company,” he said.
Tenev, who co-founded Robinhood in 2013, emphasized that despite the rise of machine intelligence, human passion and judgment will remain central to trading and finance. “I think there will always be a human element to it,” he explained. “I don’t think there’s going to be a future where AI just does all of your thinking, all of your financial planning, all the strategizing for you. It’ll be a helpful assistant to a trader and also to your broader financial life. But I think the humans will ultimately be calling the shots.”
Still, Tenev acknowledged that the technology will transform the nature of work. In an earlier conversation on the Iced Coffee Hour podcast, he urged people to become “AI native” to avoid being left behind. He predicted that AI would allow businesses to expand at unprecedented speed, even leading to the rise of single-person companies. “My prediction over the long run is you’ll have more single-person companies,” he said, suggesting that entrepreneurs could harness AI as a powerful accelerant for building new ventures.
The momentum behind AI is reflected in global business investment trends. A recent MIT survey revealed that while 95% of pilot AI projects have failed to meet expectations, companies remain committed to integrating the technology into everyday operations. U.S. tech giants, in particular, are driving this surge, with hyperscalers planning to spend an extraordinary $400 billion on capital expenditures in the next year, most of it directed at AI infrastructure.
Adoption rates are also climbing across industries. A McKinsey study found that 78% of organizations now use AI in at least one area of their business, a sharp increase from 72% in early 2024 and just 55% a year earlier.