Start at the foundation. Imagine you have access to an expert whom you can ask anything about building a house. From design and materials to costs and timelines, every question gets answered. That is what LLMs are today, tools like ChatGPT, Gemini, or Perplexity that inform, guide and simplify.
But the journey does not stop at answers. Next comes the “agentic” phase. The expert does not just advise anymore, it begins to act. It can sketch basic designs, estimate costs and even help schedule the work. It moves from knowing to doing.
Then the system evolves further into a “multi-agent” setup. Now it is no longer one expert, but a team, an architect, an engineer, a contractor, all working together, each responsible for a different piece of the same house. Coordination replaces individual effort. Collaboration drives progress.
And then comes AGI. Imagine one person who can do it all, design, plan, execute, like a complete human expert who does not need a team. One mind, total capability. Finally, at the very top, sits superintelligence. Not just better but beyond. A mind that can predict future needs, optimise every decision instantly, eliminate mistakes before they occur and build in ways humans have not even imagined yet.
From answering to doing, from doing to collaborating, from collaborating to mastery, and then to something far beyond. Or as Kedia puts it simply: first you learn, then you earn, and then you evolve.
Ace investor Vijay Kedia’s portfolio delivered a largely muted performance in FY26, with the majority of his known holdings ending the year in the red amid a challenging market environment. Domestic equities remained under pressure for most of the year due to tariff-related concerns, weak earnings growth, elevated valuations and persistent foreign institutional outflows. Sentiment deteriorated further towards the end of the year amid the escalating Iran-Israel/US conflict, which triggered a spike in energy prices, heightened inflation concerns and pushed back expectations of US Fed rate cuts.A majority of the stocks in the portfolio ended the year deep in the red, reflecting the broader stress in mid- and small-cap segments. The worst hit were Tac Infosec and Affordable Robotic, both plunging over 68%, followed by Innovators Facade (-47%), Global Vectra (-45%) and Patel Engineering (-43%). Several others, including Siyaram Silk Mills (-33%), Om Infra (-30%) and Sudarshan Chemical (-25%), also posted significant declines.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
