Sign up to save tools and stay up to date with the latest in AI
bg
bg
1

Tech execs are telling investors they have to spend money to make money on AI

Feb 04, 2024 - cnbc.com
Tech giants such as Google, Microsoft, Meta, Amazon, and Apple are increasingly investing in artificial intelligence (AI) as a key driver of future growth, according to recent earnings calls. Executives highlighted the shift from talking about AI to applying it at scale, with a focus on AI models-as-a-service and AI "agents" or productivity tools. Companies are also cutting costs in other areas to fund these AI initiatives and the necessary cloud infrastructure.

The CEOs of these companies emphasized the importance of AI in their future strategies. Sundar Pichai of Google spoke of the company's focus on scaling up AI for Search, YouTube, and Google Cloud. Microsoft's Satya Nadella highlighted the company's commitment to scaling AI investment and cloud efforts. Amazon's Andy Jassy pointed to generative AI as a significant revenue driver in the coming years. Meanwhile, Apple's Tim Cook teased an announcement about the company's AI efforts later this year.

Key takeaways:

  • Top tech companies such as Microsoft, Meta, Alphabet, Amazon and Apple are heavily investing in Artificial Intelligence (AI), with a focus on AI models-as-a-service and AI 'agents'.
  • These companies are cutting costs in other areas to make room for AI and cloud infrastructure investments, with a view that AI is a key driver for future growth and productivity.
  • Generative AI, which includes sophisticated chatbots and assistants, is a significant area of investment, with Nvidia being a major player due to its graphics processing units being used in large language models.
  • Executives are increasingly outlining their AI strategies to investors, emphasizing the importance of AI in shaping the next decade and the potential revenue it can generate.
View Full Article

Comments (0)

Be the first to comment!