I have been writing for years about the impact the AI will have on the economy, and especially on workers. In 2023 many commentators remarked that…
“The death of big tech as a leader of growth and earnings has been grossly exaggerated. That was the message from Surveillance guests today ahead of results from Alphabet Inc. and Microsoft Corp., especially given the pace and scope of recent technological advancements. (1)
Neuberger Berman’s Charles Kantor said artificial intelligence hasn’t been fully priced into the valuations of tech companies.
“I am quite optimistic that the very large index contributors will deliver earnings of high quality, and they’re protecting their cash flows this year,” he said. He said AI-related developments can add 500 basis points of value to tech adopters.
Rishi Jaluria of RBC Capital Markets agreed, saying ChatGPT-like technologies will offer long-lasting benefits in profitability and efficiency for the biggest players, with Microsoft on the leading edge of that race for now.
Continue reading “AI and the New Labor Economy”