The "A.I." revolution that will transform our world is coming your way, whether you like it or not. AI could be the biggest Next Big Thing ever, and the figures are amazing. Statista expects the AI market to reach $305 billion this year and $740 billion by 2030.
Retool's November study indicated that over half of tech workers think AI is overrated. The survey found that only 14.4% of AI's biggest critics felt their organization was over-investing in AI.
One CEO calls AI 'transforming work' A month later, Brad Lightcap, COO of OpenAI, which makes ChatGPT, told CNBC that AI is overhyped because it can "in one fell swoop... deliver substantive business change."
He said, "There's rarely a simple solution. AI can't address the problem completely." Lightcap noted that "is the level of individual empowerment and enablement that these systems create for their end users." Wall Street analysts predict one company will benefit greatly from the AI revolution, hoopla or not.
Microsoft (MSFT) is that little company. In January's results call, Microsoft CEO Satya Nadella told analysts, "we are integrating the power of AI across the entire data stack." "Our Microsoft Intelligent Data Platform simplifies and consolidates data estates by combining operational databases, analytics, governance, and AI," he stated.
Microsoft earned $2.93 per share in the second quarter, up from $2.32 a year earlier. Revenue rose 18% to $62 billion, driven by intelligent cloud development. Later this month, the corporation will disclose fiscal third-quarter earnings.
"A growing body of evidence makes clear the role AI will play in transforming work," he said. "Our own research, as well as external studies, show as much as 70% improvement in productivity,
added, "using generative AI for specific work tasks, and overall early Copilot for Microsoft 365 users were 29% faster in the series of tasks, like searching, writing and summarizing."
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