Latest news with #BondFund
Forbes
4 days ago
- Business
- Forbes
Mary Meeker's Tech Report Shows Pace, Scope Of AI Adoption
SAN FRANCISCO, CA - OCTOBER 19: Partner at KPCB, Mary Meeker, (L) and special correspondent for ... More Vanity Fair, Nick Bilton, speak onstage during "The State of the Valley: Wheres the Juice?" at the Vanity Fair New Establishment Summit at Yerba Buena Center for the Arts on October 19, 2016 in San Francisco, California. (Photo byfor Vanity Fair) Tech media is looking hard at a new report from Mary Meeker indicating that ChatGPT's search volume over three years is faster than that of Google search, which is now the dominant means of traditional hyperlink-based Internet use. It's the first report of its kind in six years, and weighs in at around 360 pages, from someone with bona fides in the tech space. 'Her previous annual reports have been pivotal in shaping understanding and investment within Silicon Valley and the broader technology sector,' writes an anonymous author at Ikala. 'This AI-centric report is a natural extension of her influential work, now directed at what many consider the most transformative technology of our time.' So this powerhouse of a report, with so much detail, comes from someone with an established reputation: Meeker now runs the Bond fund, with almost $6 billion in investment capital. At Kleiner Perkins, she helped lead the charge to invest in some of the biggest tech companies, like Facebook and Spotify. (She was also famously involved in the IPOs of both Netscape, and later, Google.) This is one reason that so many people with close ties to the industry are paying attention as the report is released. Some of what Meeker found was 260% annual growth in AI training model data since 2010, and 360% annual growth in training compute over the same time frame. In addition, she noted, user and subscriber and revenue growth for ChatGPT shows its popularity with today's Internet user. You can see visuals on this with charts from the report's slides, like one labeled: 'Seem Like Change Happening Faster Than Ever? Yes, It Is,' with its familiar hockey-stick curve, or this interesting combination of tags: 'AI Monetization Threats + Rising Competition + Open-Source Momentum + China's Rise.' And, as noted by some readers, Meeker uses the word 'unprecedented' quite a bit, as in this introductory remark: 'To say the world is changing at unprecedented rates is an understatement. Rapid and transformative technology innovation / adoption represent key underpinnings of these changes. As does leadership evolution for the global powers.' And… 'OpenAI's ChatGPT – based on user / usage / monetization metrics – is history's biggest 'overnight' success… AI usage is surging among consumers, developers, enterprises and governments. And unlike the Internet 1.0 revolution – where technology started in the USA and steadily diffused globally –ChatGPT hit the world stage all at once, growing in most global regions simultaneously.' I think that's a pretty good thesis of the report as a whole. Let's break some of this down. Charts Paint Thousands of Words Meeker also found that the Google ecosystem, used as a baseline for the AI dev community in general, developed fivefold from May of last year until now, from 1.4 million developers up to 7 million. She looked at work on image, audio and more, and the upshot of it all is that developers are swarming to this new area of AI research. Just look at what's happening on Github, or ask a corporate team what their focus is. In addition, Meeker delved into how companies will be deploying all of the fruits of their developer teams' AI labor, for one, in interacting with a target audience. She quotes Decagon Co-Founder & CEO Jesse Zhang in comments last year, saying: 'In a few years, every company will have AI agents running their customer experiences. Customer support staff are no longer fielding routine tasks; they are now becoming AI managers – configuring, training and overseeing the AI agents that handle repetitive work.' That's just one of many major use cases that will change the face of business soon. Tech Compounding Over Fifty-Plus Years Then there's the lifespan of tech adoption for various past revolutions, where Meeker measured AI against other innovations. The personal computer, she said, took 20 years to reach half of all households. Desktop Internet took 12 years; mobile Internet took six years. AI is seeming to take about three years, for a kind of Moore's law advance in adoption speed, and then there's the evolution, correspondingly rapid, of AI's various forms. Meeker writes: 'Multimodal AI models … embed text, pictures, sound, and video into a shared representation and generate outputs in any of those formats.…the path to this capability unfolded stepwise: OpenAI's CLIP paired vision and language in 2021; Meta followed with ImageBind in 2023 and Chameleon in 2024; and by 2024-2025, frontier systems such as GPT-4o, Claude 3, and Chameleon had become fully multimodal.' 150% Annual Growth Over Six Years of Performance Gains from Better AI Supercomputers CEOs are paying attention, too. Meeker's work shows how AI is being embraced by business – quickly. There's a Morgan Stanley adoption survey where a full 75% of global CMOs who responded were experimenting with AI. And again, the numbers bear out that any forward-thinking company is putting significant chips, no pun intended, on AI work. Here's another business statistic: Meeker observed a 21% gain in related capex, and 28% in data spend, as well as 37% in annual cloud revenue growth on the part of hyperscalers. Then there's the issue of cost: with Meeker noting 'cost deflation' and 10x increases annually in what a dollar will buy for AI inference. I wrote about this after attending a conference earlier this year, and it's remarkable how much more your money gets you in LLM performance compared to just months ago. Another thing that comes through from Meeker's report is how new users will start from zero with an AI-native environment. They won't be encumbered with the obsolescence of traditional Google search or sitting at a terminal. The machine will meet them in their native language, verbally. 'Imagine, for a moment, how different your next week would look if there were no internet,' Meeker writes. 'Every facet of modern life – how we work, how we communicate, how we govern, and more – would likely be turned on its head. The internet has been woven into so many facets of life, big and small, that – for many – it is difficult to imagine a world without it. In the next decade or two, imagining a world without AI will likely feel the same.' Meeker also takes on numbers from around the world, with top ChatGPT use in India at 13.5%, with the U.S. at around 9%, and Indonesia and Brazil both at 5%. Check the report for more. There's also a nod to U.S./China competition, with Chinese LLM performance taking the lead. 'Chinese AI capabilities now underpin nationally strategic areas such as battlefield logistics, target recognition, cyber operations, and autonomous decision-making platforms,' Meeker writes. 'In 2025, Chinese state media highlighted the integration of AI into non-combat support functions (e.g., military hospitals), while the Ministry of Science and Technology reinforced its commitment to 'indigenous innovation' in strategic technologies. … The implications of Chinese AI supremacy would be profound.' That dominance is likely to be a significant feather in China's cap as we get closer to new interface models where we're engaging with humanoid entities endowed with AI. In other words, that's the next step – step one is interfaces that move from a text base to verbal. Step two is where those verbal interfaces are tied into a body that can approach yours, to pursue you in terms of interaction, to seek you out and to combine that with task-based functionalities, a.k.a. a robot butler or other sort of utility. All of this bears a lot of thinking as we move through 2025, and it's a good example of a comprehensive survey of where we're at with artificial intelligence right now.
Cision Canada
29-05-2025
- Business
- Cision Canada
BMO Announces Fund Launches and Changes to Certain BMO Mutual Funds Français
TORONTO, May 29, 2025 /CNW/ - BMO Investments Inc. (BMOII), the manager of the BMO Mutual Funds, today announced the following changes to its product offering: Fund Launches and Qualification of Series S Securities The following BMO Mutual Funds and series will be launched: 1 Series F, Series I and Advisor Series units of the Fund are not currently available for purchase. BMOII has applied for certain three-tier exemptive relief and will only make Series F, Series I and Advisor Series units of the Fund available for purchase if and when this relief is granted. Series S securities of BMO U.S. Small Cap Fund will be qualified. Risk Rating Changes Effective May 28, 2025, the risk rating of each of the following BMO Mutual Funds changed: Management Fee and Administration Fee Changes The following management fee and administration fee changes were effective after the close of business on May 28, 2025, except as noted otherwise. Fund Series Current Annual Management Fee New Annual Management Fee BMO Asian Growth and Income Fund A 2.25 % 1.95 % BMO Asian Growth and Income Fund Advisor 2.25 % 1.95 % BMO Asian Growth and Income Fund T6 2.25 % 1.95 % BMO Asset Allocation Fund A 1.75 % 1.45 % BMO Asset Allocation Fund Advisor 1.75 % 1.45 % BMO Asset Allocation Fund G 0.85 % 0.80 % BMO Asset Allocation Fund T6 1.75 % 1.45 % BMO Canadian Equity ETF Fund A 1 0.75 % 0.55 % BMO Canadian Equity ETF Fund F 1 0.20 % 0.05 % BMO Canadian Equity Fund A 2.00 % 1.50 % BMO Canadian Equity Fund Advisor 2.00 % 1.50 % BMO Canadian Small Cap Equity Fund A 2.00 % 1.60 % BMO Canadian Small Cap Equity Fund Advisor 2.00 % 1.60 % BMO Canadian Stock Selection Fund A 1.80 % 1.50 % BMO Canadian Stock Selection Fund Advisor 1.80 % 1.50 % BMO Core Bond Fund A 0.95 % 0.85 % BMO Core Bond Fund Advisor 0.95 % 0.85 % BMO Core Plus Bond Fund A 1.15 % 0.90 % BMO Core Plus Bond Fund Advisor 1.15 % 0.90 % BMO Core Plus Bond Fund G 0.75 % 0.65 % BMO Diversified Income Portfolio A 1.75 % 1.35 % BMO Diversified Income Portfolio Advisor 1.75 % 1.35 % BMO Diversified Income Portfolio T6 1.75 % 1.35 % BMO Dividend Fund G 1.00 % 0.85 % BMO Emerging Markets Bond Fund F 0.65 % 0.60 % BMO Emerging Markets Fund A 2.00 % 1.70 % BMO Emerging Markets Fund Advisor 2.00 % 1.70 % BMO Enterprise Fund Advisor 2.35 % 2.00 % BMO European Fund A 2.00 % 1.65 % BMO European Fund Advisor 2.00 % 1.65 % BMO Global Dividend Fund A 1.90 % 1.60 % BMO Global Dividend Fund Advisor 1.90 % 1.60 % BMO Global Dividend Fund T6 1.90 % 1.60 % BMO Global Small Cap Fund A 2.25 % 1.85 % BMO Global Small Cap Fund Advisor 2.25 % 1.85 % BMO Global Strategic Bond Fund A 1.75 % 1.20 % BMO Global Strategic Bond Fund Advisor 1.75 % 1.20 % BMO Growth & Income Fund Advisor 1.85 % 1.50 % BMO Growth & Income Fund T8 1.85 % 1.50 % BMO Growth Opportunities Fund A 1.80 % 1.55 % BMO Growth Opportunities Fund Advisor 1.80 % 1.55 % BMO International Equity ETF Fund A 1 0.85 % 0.70 % BMO International Equity ETF Fund F 1 0.30 % 0.20 % BMO International Value Fund A 1.90 % 1.75 % BMO International Value Fund Advisor 1.90 % 1.75 % BMO Money Market Fund A 2 0.60 % 0.32 % BMO Money Market Fund Advisor 2 0.60 % 0.32 % BMO Money Market Fund ETF 0.28 % 0.12 % BMO Money Market Fund F 2 0.20 % 0.12 % BMO Monthly High Income Fund II A 1.85 % 1.60 % BMO Monthly High Income Fund II Advisor 1.85 % 1.60 % BMO Monthly High Income Fund II T5 1.85 % 1.60 % BMO Monthly High Income Fund II T8 1.85 % 1.60 % BMO Monthly Income Fund G 0.90 % 0.85 % BMO Mortgage and Short-Term Income Fund A 3 1.25 % 0.92% 4 BMO Mortgage and Short-Term Income Fund Advisor 3 1.25 % 0.92% 4 BMO Mortgage and Short-Term Income Fund F 3 0.35 % 0.42% 4 BMO North American Dividend Fund A 2.00 % 1.50 % BMO North American Dividend Fund Advisor 2.00 % 1.50 % BMO North American Dividend Fund T6 2.00 % 1.50 % BMO Precious Metals Fund A 2.00 % 1.85 % BMO Precious Metals Fund Advisor 2.00 % 1.85 % BMO Resource Fund A 2.00 % 1.85 % BMO Resource Fund Advisor 2.00 % 1.85 % BMO SelectTrust® Fixed Income Portfolio A 1.70 % 1.20 % BMO SelectTrust® Fixed Income Portfolio Advisor 1.70 % 1.20 % BMO SelectTrust® Fixed Income Portfolio T6 1.70 % 1.20 % BMO Sustainable Global Balanced Fund A 1.70 % 1.60 % BMO Sustainable Global Balanced Fund Advisor 1.70 % 1.60 % BMO Tactical Balanced ETF Fund G 0.95 % 0.85 % BMO Tactical Dividend ETF Fund G 1.00 % 0.90 % BMO Tactical Global Asset Allocation ETF Fund F 0.65 % 0.55 % BMO Tactical Global Asset Allocation ETF Fund F4 0.65 % 0.55 % BMO Tactical Global Equity ETF Fund F 0.70 % 0.60 % BMO Tactical Global Equity ETF Fund F6 0.70 % 0.60 % BMO U.S. Dollar Balanced Fund A 1.55 % 1.50 % BMO U.S. Dollar Balanced Fund Advisor 1.55 % 1.50 % BMO U.S. Dollar Money Market Fund A 5 1.00 % 0.49 % BMO U.S. Dollar Money Market Fund Advisor 5 1.00 % 0.49 % BMO U.S. Dollar Money Market Fund F 5 0.80 % 0.29 % BMO U.S. Dollar Money Market Fund O 6 0.00 % 0.05% 4 BMO U.S. Dollar Monthly Income Fund A 1.85 % 1.50 % BMO U.S. Dollar Monthly Income Fund Advisor 1.85 % 1.50 % BMO U.S. Dollar Monthly Income Fund T5 1.85 % 1.50 % BMO U.S. Dollar Monthly Income Fund T6 1.85 % 1.50 % BMO U.S. Equity ETF Fund A 1 0.80 % 0.58 % BMO U.S. Equity ETF Fund F 1 0.25 % 0.08 % BMO U.S. Equity Fund A 2.00 % 1.50 % BMO U.S. Equity Fund A (Hedged) 2.00 % 1.50 % BMO U.S. Equity Fund Advisor 2.00 % 1.50 % BMO U.S. Equity Fund Advisor (Hedged) 2.00 % 1.50 % BMO U.S. Equity Plus Fund A 1.80 % 1.55 % BMO U.S. Equity Plus Fund Advisor 1.80 % 1.55 % BMO World Bond Fund A 1.75 % 0.95 % BMO World Bond Fund Advisor 1.75 % 0.95 % Notes 1 The fixed administration fee of 0.10% paid to BMOII by this Fund in respect of this series was eliminated. BMOII continues to be responsible for payment of the administration expenses for the Fund, other than the fund expenses which continue to be paid by the Fund directly. 2 The fixed administration fee of 0.08% paid to BMOII by this Fund in respect of this series was eliminated. BMOII continues to be responsible for payment of the administration expenses for the Fund, other than the fund expenses which continue to be paid by the Fund directly. 3 Effective September 1, 2025, the fixed administration fee of 0.17% paid to BMOII by this Fund in respect of this series will be eliminated. Following the change, BMOII will continue to be responsible for payment of the administration expenses for the Fund, other than the fund expenses which will continue to be paid by the Fund directly. 4 The management fee changes will be effective September 1, 2025. 5 The fixed administration fee of 0.15% paid to BMOII by this Fund in respect of this series was eliminated. BMOII continues to be responsible for payment of the administration expenses for the Fund, other than the fund expenses which continue to be paid by the Fund directly. 6 Effective September 1, 2025, the fixed administration fee of 0.15% paid to BMOII by this Fund in respect of this series will be eliminated. Following the change, BMOII will continue to be responsible for payment of the administration expenses for the Fund, other than the fund expenses which will continue to be paid by the Fund directly. For more information about the Funds, please visit Mutual Funds | BMO Global Asset Management ( "BMO (M-bar roundel symbol)" is a registered trademark of Bank of Montreal, used under licence. BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate. BMO Mutual Funds are managed by BMO Investments Inc., which is an investment fund manager and a separate legal entity from Bank of Montreal. Commissions, management fees and expenses (if applicable) all may be associated with investments in mutual funds. Trailing commissions may be associated with investments in certain series of securities of mutual funds. Please read the fund facts or simplified prospectus of the relevant Fund before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. Distributions are not guaranteed and are subject to change and/or elimination. For a summary of the risks of an investment in the BMO Mutual Funds, please see the specific risks set out in the simplified prospectus. About BMO Financial Group BMO Financial Group is the seventh largest bank in North America by assets, with total assets of $1.4 trillion as of April 30, 2025. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.
