Tag: Goldman Sachs

OpenAI's Sam Altman was confronted by protestors at a business event in the UK, who called for the halt of the AGI suicide race. Altman agreed that AGI is potentially dangerous, but said scientists need to build better AI to understand its workings. Last month, leading figures in AI warned that AGI presents risks comparable to a pandemic. A Goldman Sachs report predicted AI could impact 300 million jobs.

Apple CEO Tim Cook recently discussed the new Vision Pro mixed reality headset, emphasizing its augmented reality capabilities for connection and responsible AI development. Despite the high price tag, Cook believes it's worth the investment and also revealed his use of ChatGPT. Get insights on Chance Miller's experience with spatial computing and Apple's commitment to technology advancement with mindfulness of challenges.

Palantir's recent stock surge is overdone, says Goldman Sachs. While AI has fuelled a demand for companies focused on the technology, the investment bank believes the rally is unjustified. Their analysts argue AI is just an extension of Palantir's existing data analytics work, not a substantial change in strategy or take-up. However, the firm still sees AI as a future tailwind, which could help drive growth. Goldman Sachs has raised Palantir's price target to $10 per share but warns that it signals a downside risk of almost 35% from current levels.

Recent fears over AI causing unemployment are increasing, as many workers report losing their jobs to technology. A content-writer claims his work was replaced by an AI system: ChatGPT. With 3,900 job losses due to AI in May alone, some fear up to 300 million full-time jobs could be replaced by AI. However, the UN's Department of Economic and Social Affairs suggests that AI replacing the majority of jobs is unrealistic, as it is not versatile or adaptable enough. Some workers are adapting by entering trades that AI hasn't yet picked up.

Investing in semiconductor companies powering AI may yield higher returns than leading AI pioneers, according to analysts at Bernstein. The semiconductor market has profited from the AI revolution, igniting investor interest and creating lucrative opportunities. Bernstein has identified six semiconductor companies with a rating higher than the current market levels, presenting significant potential for price-target upside. As investors pour record sums into AI tech funds, experts predict AI advances could contribute $7tn to global GDP over the next decade.