Adrian JohnsonTLDR:
- Celebrity investor and TV personality Kevin O’Leary shared his thoughts on AI, drone tech, and North Dakota’s role in the future of both in a “fireside chat” at the University of North Dakota (UND).
- O’Leary praised North Dakota as a “winner state” compared to states with more regulation and higher income taxes, and highlighted the state’s potential in emerging fields like AI and drone technology.
- He also discussed his partnership with North Dakota for the Wonder Fund, a $45 million direct investment program, and emphasized the importance of building relationships in the long-term.
Celebrity investor and TV personality Kevin O’Leary, best known for his role on ABC’s “Shark Tank,” recently spoke at the University of North Dakota (UND) about AI, drone tech, and the potential for North Dakota in these fields. In a “fireside chat” with UND President Andrew Armacost, O’Leary praised North Dakota as a “winner state” compared to states with more regulation and higher income taxes for high earners, like Minnesota and New Jersey. He highlighted the state’s role in emerging technologies, specifically AI and drone technology.
O’Leary described AI as a useful productivity tool but explained that it is unlikely to spawn new tech giants like Google or Microsoft. Instead, he predicted that those companies will be the ones to develop and control AI technology since they have the resources to invest in AI data centers. However, O’Leary also recognized the potential benefits for North Dakota, citing the state’s combination of cheap energy, fiber infrastructure, and pro-business leadership.
Regarding drone technology, O’Leary described North Dakota’s involvement as a “huge opportunity” and highlighted the state’s potential to standardize how crewed and unmanned aircraft interact in the sky. He specifically mentioned the Wonder Fund, a $45 million direct investment program that O’Leary Ventures has partnered with the state of North Dakota on. O’Leary emphasized the importance of the long game and building relationships, rather than competing.
During the chat, O’Leary also shared his advice for the perfect business pitch and discussed his partnership with North Dakota-based software company Thread. He also expressed his skepticism of investing in individual stocks, recommending that people invest in mutual funds instead. When asked about hockey, O’Leary joked that the best team is in Boston, leading to boos from the audience.
O’Leary’s “fireside chat” at UND drew a large crowd, prompting the event organizers to direct extra attendees to watch the event remotely in another room. His visit to North Dakota is part of an “investment tour” across several states, during which he has toured facilities like the Grand Sky aviation park and the city-owned HIVE building. The HIVE building now has a conference room named after O’Leary as part of a sponsorship agreement with O’Leary Ventures.