St. Louis Firms Explore AI's Promise and Perils as They Invest in Emerging Tech
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Executives across industries in St. Louis are considering how AI like ChatGPT could make businesses more efficient or provide a competitive edge. Companies are investing now, believing AI will be an important tool.
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Potential uses include saving workers time on repetitive tasks, tapping into large data sets, aiding decision-making, answering customer questions. Risks exist too - IP, bad data.
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Emerson hopes to use AI for translation; Bayer's prototype chatbot helps farmers visualize impacts of variables on crops.
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Investment firm Argent Capital tried multiple AI tools to analyze earnings calls over time, but found the tech not advanced enough yet to properly summarize key info.
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While the tools hold promise for efficiency gains, human judgment is still critical. Firms realize it will take time for the tech to advance to a point they can completely trust AI-generated insights.