IN THE TWO years since ChatGPT burst onto the scene, artificial intelligence has come to dominate investor consciousness more than any other technological breakthrough in the past two decades. Tech giants are spending tens of billions of dollars per quarter to beef up the computing power needed to develop and run AI systems.
To its biggest boosters, the impact will be astonishing: AI will replace legions of workers, help researchers discover life-saving drugs, enable companies to push into new markets and unleash vast efficiencies that will juice corporate profits for years to come. As a result, AI-related stocks have been responsible for much of the bull market that began in October 2022.
While AI is surely promising, it isn't generating much revenue relative to the cost. A recent Gallup poll found that only 4% of US workers use AI every day. More than two-thirds said they never do. Daron Acemoglu, a Nobel Prize-winning economist and MIT professor, has argued that common expectations around AI advances are overly optimistic. "The models we have right now are pretty impressive in some respects," he says. "They're still not usable broadly."
Denne historien er fra December 13, 2024-utgaven av Financial Express Pune.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra December 13, 2024-utgaven av Financial Express Pune.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Board observers in the spotlight
AT PRESENT, RBI DOES NOT SEE ANY MIDDLE GROUND FOR NBFC INVESTORS ACTING AS OBSERVERS
Drones deliver new hope to farmers
● Aerial tech enhances farming efficiency, can tackle workforce woes
Walmart has a tough battle ahead in India
E-COMMERCE IN INDIA is a political and regulatory minefield. US consumer giant Walmart Inc.—which has been waiting to launch the much-anticipated initial public offering of the online marketplace it acquired for $16 billion six years ago—has had its patience tested. It's unlikely to get Flipkart out the door next year: A 2026 IPO may be a more reasonable expectation, with a little diplomatic help from the incoming government in Washington.
Placing Indian agriculture on the global map
Farmer producer organisations should be supported per their requirements, which currently are know-how about international standards and scaling
Acting with restraint
Overall, regulators have done a competent job, but they need to work on lack of transparency and overreach
Americans view Musk, Trump as roughly the same, finds poll
ELON MUSK, clad in tuxedo and black tie, took the stage at President-elect Donald Trump's Mar-a-Lago resort shortly after the election with all the swagger of the winning candidate himself.
Biden admin to investigate Chinese semiconductors
PRESIDENT JOE BIDEN'S administration is set to initiate a trade investigation into Chinese semiconductors in the coming days, as part of a push to reduce reliance on a technology that US officials believe pose national security risks.
UK inflation hits 8-month high in Nov
British inflation hit an eight-month high in November, but the rise in services prices - watched closely by the Bank of England (BoE) as an underlying measure of inflationary pressures - held steady, offering the central bank a little bit of relief.
Guardian's Observer, oldest Sunday paper, sold to Tortoise Media
The owner of Britain's Guardian newspaper confirmed on Wednesday that it has sold The Observer, the world's oldest Sunday newspaper, to Tortoise Media for an undisclosed fee.
China's billionaires are making money for the first time since 2020
CHINA'S BILLIONAIRES ARE slowly starting to recover their wealth after three years of losses from a property crisis and Xi Jinping's push for common prosperity at the expense of powerful private business owners.
