Companies must use artificial intelligence to compete or go bankrupt as the pace of advancement soars, Ark Invest futurist says

• Companies have to onboard AI quickly if they want to stay competitive, Ark Invest's Brett Winton says.
• The AI transition is driven by a stressed corporate landscape, providing solutions without much cost.
• Microsoft will outcompete Google in the long run, despite higher costs for AI search engines.

Artificial intelligence may be the catalyst for a rapid make-or-break era in the corporate world. 

That's according to Ark Invest's Chief Futurist Brett Winton, who told CNBC on Wednesday that companies that do not start integrating the new technology soon may fall behind and even risk bankruptcy when competing with those that do.