### Summary
A new Wall Street report suggests that IBM could benefit from artificial intelligence (AI) in its consulting business, potentially leading to cost reductions through automation.
### Facts
- 💼 Analysts at Melius Research believe that IBM's consulting business could capitalize on AI to cut labor costs through automation.
- 💸 CNBC's Jim Cramer suggests that IBM, along with Accenture, could benefit from the AI industry boom.
- 👥 Other stocks to watch in relation to AI include Salesforce and ServiceNow.
Companies across various sectors discussed their use of artificial intelligence (AI) and how it could benefit their businesses during Q2 earnings calls, aiming to distract investors from lackluster Q2 results and highlight the potential for AI to boost earnings and sales in the future, according to Goldman Sachs analysts.
IBM's consulting business could potentially benefit from artificial intelligence by using automation to reduce labor costs, marking a potential "golden age" for the industry, according to analysts at Melius Research.
Artificial intelligence will initially impact white-collar jobs, leading to increased productivity and the need for fewer workers, according to IBM CEO Arvind Krishna. However, he also emphasized that AI will augment rather than displace human labor and that it has the potential to create more jobs and boost GDP.
Artificial intelligence (AI) is revolutionizing the accounting industry by automating tasks, providing insights, and freeing up professionals for more meaningful work, but there is a need to strike a balance between human and machine-driven intelligence to maximize its value and ensure the future of finance.
Around 40% of the global workforce, or approximately 1.4 billion workers, will need to reskill over the next three years as companies incorporate artificial intelligence (AI) platforms like ChatGPT into their operations, according to a study by the IBM Institute for Business Value. While there is anxiety about the potential impact of AI on jobs, the study found that 87% of executives believe AI will augment rather than replace jobs, offering more possibilities for employees and enhancing their capabilities. Successful reskilling and adaptation to AI technology can result in increased productivity and revenue growth for businesses.
Goldman Sachs analysts remain optimistic about the impact of artificial intelligence (A.I.) on the global economy, predicting increased productivity, higher corporate revenues, and boosted earnings for companies in the short and long term, naming Nvidia, Microsoft, and Meta Platforms as some of the key beneficiaries of A.I. advancements.
Artificial intelligence should be used to build businesses rather than being just a buzzword in investor pitches, according to Peyush Bansal, CEO of Lenskart, who cited how the company used AI to predict revenue and make informed decisions about store locations.
AI will not eliminate jobs, but it will change the job market by displacing certain roles and creating new ones.
JPMorgan Chase plans to invest $1 billion or more per year in artificial intelligence, despite anticipating a "relatively subdued" year in investment banking.
A new paper published by Morningstar argues that artificial intelligence (AI) is unlikely to replace financial advisors because it lacks the trust of humans and faces significant hurdles to fulfill its potential in handling the responsibilities of financial advising, comparing it to previously overhyped innovation trends like robo-advisers and autonomous vehicles.
Some companies in the Phoenix area are hiring due to the implementation of artificial intelligence (AI), challenging the notion that AI will replace human workers and negatively impact the job market.
Artificial intelligence has the potential to transform the financial system by improving access to financial services and reducing risk, according to Google CEO Thomas Kurian. He suggests leveraging technology to reach customers with personalized offers, create hyper-personalized customer interfaces, and develop anti-money laundering platforms.
Artificial intelligence will disrupt the employer-employee relationship, leading to a shift in working for tech intermediaries and platforms, according to former Labor Secretary Robert Reich, who warns that this transformation will be destabilizing for the U.S. middle class and could eradicate labor protections.
Qualcomm CEO Cristiano Amon believes that artificial intelligence (AI) could rejuvenate the smartphone market, potentially creating a new upgrade cycle for phones, as the company focuses on bringing AI to smartphones and other devices rather than data centers.
Summary: Inflection.ai CEO Mustafa Suleyman believes that artificial intelligence (AI) will provide widespread access to intelligence, making us all smarter and more productive, and that although there are risks, we have the ability to contain and maximize the benefits of AI.
The role of CEO is easily replaceable by artificial intelligence due to its lack of meaningful contribution, accountability, and practical experience, making it the most easily automatable job.
Alibaba's new CEO, Eddie Wu, plans to embrace artificial intelligence (AI) and promote younger talent to senior management positions, as the company undergoes its largest restructuring and seeks new growth points amid a challenging economic environment and increasing competition.
The US Securities and Exchange Commission (SEC) is utilizing artificial intelligence (AI) technologies to monitor the financial sector for fraud and manipulation, according to SEC Chair Gary Gensler.
Artificial intelligence (AI) will be highly beneficial for executives aiming to save money in various sectors such as banking, insurance, and healthcare, as it enables efficient operations, more accurate data usage, and improved decision-making.
Artificial intelligence (AI) requires leadership from business executives and a dedicated and diverse AI team to ensure effective implementation and governance, with roles focusing on ethics, legal, security, and training data quality becoming increasingly important.
Nearly half of CEOs (49%) believe that artificial intelligence (AI) could replace most or all of their roles, and 47% think it would be beneficial, according to a survey from online education platform edX. However, executives also acknowledged that "soft skills" defining a good CEO, such as critical thinking and collaboration, would be difficult for AI to replicate. Additionally, the survey found that 49% of existing skills in the current workforce may not be relevant by 2025, with 47% of workers unprepared for the future.
The rise of Artificial Intelligence (AI) in banking and finance presents a profound opportunity for the industry, with the potential for significant productivity gains and a better customer experience, as well as the emergence of digital currencies and innovations in digital banking. As financial institutions continue to embrace AI and digital transformation, smaller institutions may struggle to remain relevant in the face of larger networks and platforms, ultimately leading to a consolidation in the industry. However, the overall outlook for banking and finance is optimistic, with the expectation that advancements in technology will continue to drive information growth and spread, ultimately benefiting investors and customers alike.
Artificial intelligence (AI) is the next big investing trend, and tech giants Alphabet and Meta Platforms are using AI to improve their businesses, pursue growth avenues, and build economic moats, making them great stocks to invest in.
Artificial intelligence (AI) tools are expected to disrupt professions, boost productivity, and transform business workflows, according to Marco Argenti, the Chief Information Officer at Goldman Sachs, who believes that companies are already seeing practical results from AI and expecting real gains. AI can enhance productivity, change the nature of certain professions, and expand the universe of use cases, particularly when applied to business processes and workflows. However, Argenti also highlighted the potential risks associated with AI, such as social engineering and the generation of toxic content.
Artificial intelligence (AI) is being seen as a way to revive dealmaking on Wall Street, as the technology becomes integrated into products and services, leading to an increase in IPOs and mergers and acquisitions by AI and tech companies.
The European Central Bank is exploring the use of artificial intelligence to better understand inflation, support oversight of big banks, and assist with policy and decision-making, although decisions still ultimately rest in the hands of human policymakers.
AI is here to stay and is making waves across different industries, creating opportunities for professionals in various AI-related roles such as machine learning engineers, data engineers, robotics scientists, AI quality assurance managers, and AI ethics officers.
JPMorgan Chase CEO Jamie Dimon predicts that artificial intelligence will enable the next generation of workers to have a three and a half-day workweek.
Softbank CEO Masayoshi Son predicts that artificial intelligence will surpass human intelligence within a decade, urging Japanese companies to adopt AI or risk being left behind.
SoftBank CEO, Masayoshi Son, predicts that artificial intelligence will surpass human intelligence within the next 10 years, with artificial general intelligence growing 10 times smarter than humankind, and artificial super intelligence potentially surpassing human intelligence by a factor of 10,000 within 20 years.
Softbank CEO Masayoshi Son has urged Japanese companies to embrace artificial intelligence (AI) or risk being left behind, stating that AI will surpass human intelligence within a decade and will greatly impact every industry.
AI is eliminating jobs that rely on copy-pasting responses, according to Suumit Shah, the CEO of an ecommerce company who replaced his support staff with a chatbot, but not all customer service workers need to fear replacement.
Artificial intelligence (AI) has the potential to disrupt industries and requires the attention of boards of directors to consider the strategic implications, risks, compliance, and governance issues associated with its use.
SoftBank CEO Masayoshi Son predicts that artificial general intelligence (AGI) will become a reality within ten years and will be ten times more intelligent than all human intelligence, urging nations and individuals to embrace AI or risk being left behind, likening the intelligence gap to that between monkeys and humans, while also emphasizing the need for AI to be used in the "right way." Arm CEO Rene Haas reaffirms the growing revenue and importance of AI-enabled chip designs, but highlights the challenge of power consumption and the need for more efficient chips in the face of sustainability concerns.
AI has become a game-changer for fintech firms, helping them automate compliance decisions, mitigate financial crime, and improve risk management, while also emphasizing the importance of human involvement and ensuring safety.
Warren Buffett's business partner, Charlie Munger, believes that artificial intelligence (AI) is overhyped and receiving more attention than it deserves, citing that it is not a new concept and has been around for a long time, but there have been significant breakthroughs that surpass previous achievements, making AI a game-changing technology with long-term impact.
Nearly half of the skills in today's workforce will be irrelevant in two years due to artificial intelligence, according to a survey of executives and employees by edX, an online education platform. Executives predict that AI will eliminate over half of entry-level knowledge worker roles within five years, but some industry leaders believe the immediate impact of AI on career goals will be minimal. While AI will redirect jobs and career prospects, the impact on tasks is uncertain, and developing skills in AI tools and technologies can enhance one's existing strengths. Ultimately, successful applications of AI will amplify human skills rather than replace them entirely. However, the survey shows that even top-level decision-makers are concerned about their tasks being absorbed into AI, with a significant percentage believing that the CEO role should be automated or replaced by AI. As AI evolves, skills such as critical thinking, logical intelligence, and interpersonal skills will become more important, while repetitive tasks, analysis, and content generation will be less in demand. Executives recognize the importance of improving their AI skills and fear being unprepared for the future of work if they don't adapt. While AI can support various business activities, including idea generation and data-driven decision-making, there will always be a role for creativity and strategic thinking that cannot be easily replaced by AI.
Artificial intelligence (AI) is revolutionizing the restaurant industry by streamlining operations, improving customer experience, and optimizing resource utilization, although it is not intended to replace human workers entirely.
Artificial intelligence (A.I.) has the potential to supplement and improve work tasks, but concerns are raised about its impact on jobs, according to a recent survey by Energage, with 1 in 9 employees believing A.I. may replace their job in the next five years.