AI is taking the world by storm and the tech giants are not ignoring it. Last week, during their first quarter earnings calls, the four tech giants, Mark Zuckerberg of Meta, Sundar Pichai of Alphabet, Satya Nadella of Microsoft, and Andy Jassy of Amazon, talked about the use of Artificial Intelligence (AI) to enhance their products and services and capitalize on the surge of AI.
Together, these four tech titans mentioned AI a total of 168 times on earnings calls, showing just how much attention the technological advances is attracting. Alphabet had the highest number of AI mentions with 64, followed by Microsoft with 50, Meta with 47 and Amazon with just 7.
These tech giants are investing in different aspects of AI. Alphabet is rolling out its chatbot Bard despite the criticism it has faced since the debut of OpenAI’s ChatGPT. Microsoft has pledged to invest in the development of AI with its 10 billion dollar stake in OpenAI. For its part, Meta is using AI to create “visual creation tools” for Instagram users, and Amazon plans to develop language models for chatbots, even though it’ll take billions of dollars and many years to do so.
All this just goes to show that AI is not just a buzzword but also an area of focus for many corporations. Big tech firms have found uses for AI in many aspects of their operations, and they are now taking extra steps to make sure they remain at the forefront of AI development.
Additionally, Mark Zuckerberg, the CEO of Meta, has been the driving force in AI investments, where expenditures were said to have been the main driver for heightened spending in recent years. He is determined to ensure Meta will continue to invest in AI as new models are being developed.
Sundar Pichai, CEO of Alphabet, also recognized the importance of AI for their operations as he mentioned it in their earnings call and described how has been embedded in their product updates this year.
Satya Nadella and Andy Jassy of Microsoft and Amazon respectively also recognized the importance and potential of AI, using their earnings calls to speak passionately about the potential applications and investments they each have planned.
Thus, AI has received immense attention from these four tech giants, and it is now clear that AI is set to remain a top priority for many corporates in the near future.
