Key Takeaways
- • Helmut Kohl, who runs Helmut Kohl Management, a family office investing in digital infrastructure, says AI is the fastest-growing technological change he has experienced, placing it above the atomic bomb and the moon landing in terms of pace of change.
- • Kohl estimates AI models now have around three billion active users, roughly a third of the world's population, reached within three years, though he noted figures vary by provider.
- • Kohl argues AI development is driven by purely private companies rather than state programs, and that regulators are unable to write laws in time to keep pace with the technology.
- • Kohl distinguishes between training and inference infrastructure as separate investment models for family offices, though the article's excerpt cuts off before he details his view on each.
- • Kohl's core investor message is that AI "bubbles, but it is not a bubble," per the headline, signaling a view that valuations may be volatile without representing a systemic speculative collapse.
Summary
Helmut Kohl, who has spent more than 30 years in management positions at telecommunications companies and now runs Helmut Kohl Management, a family office focused on digital infrastructure, outlined his view of artificial intelligence at a recent family office conference in Germany. According to Opalesque, which published the remarks through Matthias Knab, Kohl said he considers AI different in kind from earlier technological shifts he has witnessed. He compared it to the atomic bomb, which within two years overturned existing security frameworks and led to the concept of deterrence, and to the moon landing, whose technologies have been in use for decades. "AI is the fastest-growing change I have ever experienced," he said.
Kohl cautioned that user figures vary across providers but estimated that AI models now have around three billion active users. He noted this equates to roughly a third of the world's population within three years, while observing that many people remain excluded due to age or lack of infrastructure access. He described the three-billion figure as "absurdly high."
On regulation, Kohl argued that AI differs from the bomb and the moon programme in that it is not a state project. "Purely private companies are driving it," he said. He added that governments and authorities, while attempting to keep pace, are unable to legislate within the required timeframe. Using Germany as an example, he noted that a bill could take a year in committee and another year to pass through the Bundestag and Bundesrat, after which, in his words, "In a year, the AI we are talking about today will no longer exist."
For investors, Kohl drew a distinction between training and inference infrastructure as separate models. The available excerpt does not provide the detail of his comparison. The article's headline frames his overall position as "It bubbles, but it is not a bubble," suggesting he sees elevated valuations and volatility in the sector without viewing it as a speculative bubble.
Kohl cautioned that user figures vary across providers but estimated that AI models now have around three billion active users. He noted this equates to roughly a third of the world's population within three years, while observing that many people remain excluded due to age or lack of infrastructure access. He described the three-billion figure as "absurdly high."
On regulation, Kohl argued that AI differs from the bomb and the moon programme in that it is not a state project. "Purely private companies are driving it," he said. He added that governments and authorities, while attempting to keep pace, are unable to legislate within the required timeframe. Using Germany as an example, he noted that a bill could take a year in committee and another year to pass through the Bundestag and Bundesrat, after which, in his words, "In a year, the AI we are talking about today will no longer exist."
For investors, Kohl drew a distinction between training and inference infrastructure as separate models. The available excerpt does not provide the detail of his comparison. The article's headline frames his overall position as "It bubbles, but it is not a bubble," suggesting he sees elevated valuations and volatility in the sector without viewing it as a speculative bubble.
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