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☆ These stocks should be the cornerstone of an AI portfolio, according to Evercore ISI
▼ + stars: | 2024-06-10 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

A group of stocks are at the helm of the artificial intelligence revolution — and they are worth buying and holding for the long run, according to Evercore ISI. To compile this list, Evercore scanned the Russell 1000 for companies whose executives mentioned AI on call transcripts in 2023 more frequently compared to their peers. Also on Evercore's list is Google parent company Alphabet , which notched 169 AI mentions last year. The company's suite of AI products include its own large language model, Gemini, and Vertex AI, which targets enterprise companies. "Our leadership in AI research and infrastructure, and our global product footprint, position us well for the next wave of AI innovation."

Persons: Julian Emanuel, Russell, Emanuel, Evercore, Rubin, Wall, Mark Zuckerberg, Meta, Sundar Pichai Organizations: ISI, Nvidia, Meta

Citi double upgraded Best Buy to buy from sell, and its new price target indicates upside of 18%. MRVL YTD mountain MRVL year to date — Lisa Kailai Han 6:16 a.m.: Bank of America sticks to Nvidia as a top pick with 36% upside Nvidia remains a top pick for Bank of America. He also maintained his price target of $1,500 and named Nvidia a top pick following CEO Jensen Huang's keynote speech at the Computex expo this past weekend. Arya's price target implies that Nvidia stock could rise 36.8% from here, adding to its whopping 121% year-to-date rally. — Lisa Kailai Han 5:46 a.m.: Citi double upgrades Best Buy to buy rating from sell There's a rosy outlook for Best Buy ahead, according to Citi.

Persons: Kimberly, Clark, Goldman Sachs, Toshiya Hari, Hari, Marvell's, Lisa Kailai Han, Vivek Arya, Jensen, Arya, — Lisa Kailai Han, Piper Sandler, Masimo, Jason Bednar, Bednar, MASI, Steven Zaccone, Nik Modi, Modi, Fred Imbert Organizations: CNBC, Citi, RBC, Bank of America, Nvidia, Marvell Technology Marvell Technology, Enterprise Networking, Marvell, Sound, Kimberly, Clark Investors, RBC Capital Markets Locations: Friday's, Kimberly, KMB

☆ A longtime skeptic on Best Buy now says buy the stock — here's what changed their mind
▼ + stars: | 2024-06-03 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

A longtime bearish analyst on Best Buy has jumped over to our side the debate after its head-turning earnings report last week. Barry said Best Buy expects to have the largest assortment of AI PCs on sale later this month from brands such as Dell, Microsoft and HP, with "more than 40% of the assortment retail exclusive to Best Buy." Based on Monday's prices, Best Buy would need to gain nearly 59% to take out its old highs. Considering the innovation pipeline ahead, Citi analysts are optimistic Best Buy shares can go even higher. People walk into a Best Buy store in a Brooklyn mall on August 29, 2023 in New York City.

Persons: Jim Cramer, Corie Barry, Barry, Jim, it's, Jim Cramer's, Spencer Platt Organizations: Citigroup, Citi, Dell, Microsoft, HP, Nasdaq, CNBC, Getty Locations: Brooklyn, New York City

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Citi, Tesla, Best Buy, Meta, Broadcom, Krispy Kreme & more
▼ + stars: | 2024-06-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Goldman Sachs reiterates Apple as buy Goldman said it's bullish heading into the company's Worldwide Developer's Conference on June 10. " Mizuho reiterates Meta as buy Mizuho said its sticking with its buy rating on the Meta. JPMorgan upgrades Krispy Kreme to overweight from neutral JPMorgan upgraded Krispy Kreme after a change in analyst coverage. Citi upgrades Best Buy to buy from sell Citi said in its double upgrade of the stock that it sees "upside potential." Goldman Sachs reiterates First Solar as buy Goldman raised its price target on the stock to $302 per share from $268.

Persons: Goldman Sachs, Goldman, it's, AAPL, Morgan Stanley, Tesla, We've, Jefferies, Mizuho, Wells, CAVA, Piper Sandler, Massimo, Piper, Clark, Melius, Guggenheim, Stifel, Bernstein, Airbnb, Roth, Marvell Organizations: : Bank of America, Nvidia, Bank of America, Apple, Conference, Meta, Citi, JPMorgan, JPMorgan downgrades, RBC, Kimberly, Broadcom, Guggenheim, Logistics, Auto Logistics, Inc, EBITDA, Qs, Marvell Locations: Computex, Taiwan, Siri, JPMorgan downgrades Cava

☆ Goldman Sachs names top global stocks to play the coming power boom in AI and other areas
▼ + stars: | 2024-05-31 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

The artificial intelligence boom is fueling demand for power, with many tech companies rapidly developing infrastructure as they compete for dominance. Data centers house vast amounts of computing power needed for AI workloads, and are intense power-guzzling workhorses. But the need for power goes beyond data centers and other infrastructure, according to Goldman. Goldman cited studies which showed that AI data centers can consume up to 10 times the energy of their regular counterparts. Taiwan's tech industry extends across a "comprehensive global AI supply chain," with tech manufacturers consuming a "substantial" amount of power.

Persons: Goldman, — CNBC's Michael Bloom Locations: Asia, China, Taiwan, South Korea, India, South Korea's, Power, Australia

☆ NICE's CEO says AI is 'the ultimate alchemist' that can transform customer-experience solutions
▼ + stars: | 2024-05-30 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +6 min

The software company NICE launched Enlighten AI to improve customer service and clients' efficiency. Eilam said Enlighten AI "dramatically improves" productivity and efficiency for customer-experience teams by automating many labor-intensive tasks, such as note-taking during customer-service calls. Enlighten Autopilot, one of the products within NICE's Enlighten AI for CX repository, enhances self-service with an AI-powered virtual assistant. Many existing customers are adding Enlighten AI to their portfolios, and NICE is attracting new customers with its AI capabilities. The organization implemented Enlighten AI to monitor 100% of its customer interactions and gather insights about the behaviors influencing customer sentiment.

Persons: —, We've, Barak Eilam, Eilam, Copilot, What's Organizations: NICE, Service, Neptune Intelligence Computer Engineering, Business, Republic Services, Open Network Exchange, ONE, BI Locations: Hoboken , New Jersey

☆ Here's the 22-slide pitch deck that got Atropos Health $33 million for its generative AI bot for doctors
▼ + stars: | 2024-05-28 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +4 min

A new generative AI tool can create those studies in minutes. That directive informed Atropos' development of ChatRWD, which Atropos Health launched in beta form in October to 75 customers. Atropos says it's the first generative AI tool to create publication-grade studies from clinical data in minutes. AdvertisementAtropos' $33 million Series B funding follows Atropos' $14 million Series A in August 2022, bringing the company's total funding to $54 million. See the 22-slide pitch deck Atropos Health used to raise $33 million in Series B funding.

Persons: —, Brigham Hyde, Valtruis, Jim Breyer's Breyer, Laurene Powell Jobs, Nigam Shah, Saurabh, Hyde, Atropos, Green Button, Green, Johnson, Johnson's Janssen Organizations: Service, Business, Atropos, Cencora Ventures, McKesson Ventures, Merck GHI Fund, Presidio Ventures, Stanford University, National Institutes of Health, Atropos Health, pharma Locations: Geneva, Arcadia

"We need much more European big players, and I think Mistral AI can be one of them," Macron said of France's leading AI company. Macron also praised H, the newly launched French AI startup that announced this week it had raised a massive $220 million from its initial round of financing. He compared allowing American tech giants to operate under U.S. regulations while in Europe, to allowing a French bank in the United States to ignore American banking regulations. When it comes to China, however, Macron implied that he thought some U.S. tech regulations had gone too far. "Look, I think China is a competitor when you speak about trade, innovation and economy.

Persons: Emmanuel Macron, Macron, CNBC's Andrew Ross Sorkin Organizations: France —, Microsoft, CNBC, European, EU Artificial Intelligence, European Union, Google, TikTok Locations: PARIS, France, France — Europe, China, United States, U.S, Paris, Mistral, Europe, Washington, Brussels

☆ 'Big Short' investor Steve Eisman: Apple is the 'hidden AI play'
▼ + stars: | 2024-05-21 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +1 min

Investor Steve Eisman of "The Big Short" fame expects Apple to capture epic gains from the artificial intelligence boom. "I think Apple is actually the hidden AI play," he told CNBC's " Fast Money " on Tuesday, less than 24 hours before chip giant Nvidia reports its fiscal first-quarter results. "When there will be apps that the consumer can use, they're going to want to use it on their phone," Eisman said. "I have a new iPhone, and I know for sure that when all those apps come on my phone, I'll need a new phone, and I'll need a new iPad and I'll need a new laptop." He suggests investors will have to be patient because the AI-driven apps need time to be developed.

Persons: Steve Eisman, CNBC's, Eisman, Neuberger Berman Organizations: Apple, Nvidia, Devices

☆ Jamie Dimon might finally be ready to call it quits
▼ + stars: | 2024-05-21 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The big storyA retirement loomsMarianne Ayala/BIThe world's most recognizable banker might finally be ready to call it quits. The comings and goings of Wall Street executives are common, even at the highest levels. Wall Street has long speculated about who will ultimately succeed Dimon. Martin Gruenberg has told staff he'll stand down as chairman once a replacement has been found , per The Wall Street Journal. A report from the Wall Street Journal says the company hopes to conduct its next implant in June.

Persons: —, Jamie Dimon's, Marianne Ayala, Jamie Dimon, Insider's Paul Squire, nodded, Morgan Stanley, JPMorgan's, Tom Williams, Dimon, Jennifer Piepszak, Marianne Lake, Troy Rohrbaugh, BI's Reed Alexander, Reed, M, Alyssa Powell, Goldman Sachs, Lindsay MacMillan, Nancy Lazar, Piper, Martin Gruenberg, OpenAI, Scarlett Johansson, Sam Altman's, Andrea Chronopoulos, they're, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Navy SEAL, Business, JPMorgan, Street, Citi, Bank, Inc, Getty, Wall, Dimon, Bank of America, FDIC, Microsoft, Wall Street Journal Locations: New York, London

☆ Microsoft is about to show off its next move in AI. Here's what to expect.
▼ + stars: | 2024-05-20 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

Read previewIt's about to be a big week for Microsoft. Copilot and other AI features in WindowsWedbush analysts expect Microsoft to roll out more Copilot and AI features into its consumer and enterprise product stack. Related storiesIves said putting AI features into Windows will give developers the foundation to build AI use cases through Windows and, ultimately, Azure. Ives said the new AI Surface updates will start a new PC-driven cycle that's "AI-led, from Dell to Microsoft, and ultimately to Apple as well." But according to Ives, Microsoft will be a "showstopper."

Persons: —, Dan Ives, Wedbush's, Wedbush, Ives, Google Organizations: Service, Microsoft, Google, Business, Windows, Oracle, Apple, Dell, Ives

☆ How FICO leverages AI to optimize credit score decisions
▼ + stars: | 2024-05-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow FICO leverages AI to optimize credit score decisionsScott Zoldi, FICO chief analytics officer, joins CNBC's 'The Exchange' to discuss AI innovation, how data trains large language models, and more.

Persons: Scott Zoldi

☆ Google shows off how AI Gmail, Photos and shopping will work
▼ + stars: | 2024-05-14 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +4 min

CNN —A day after OpenAI impressed with a startlingly improved ChatGPT AI model, Google showed off its vision for how AI will improve the products that billions of people use every day. Google showed how it wants its AI products to become a bigger part of users’ lives by sharing information, interacting with others, finding objects around the house, making schedules, shopping and using an Android device. Simply put, Google wants its AI to be part of everything you do. Google CEO Sundar Pichai showed off various new features powered by its latest AI model Gemini 1.5 Pro. One new feature, called Ask Photos, allows users to search photos for deeper insights, such as asking when your daughter learned to swim or recall what your license plate number is, by looking through saved pictures.

Persons: OpenAI, Sundar Pichai, Pichai, —, ”, Google’s, Jacob Bourne, it’s Organizations: CNN, Google, Gmail, Google Lens, Astra, “

"We're like the engine room of the company," Hassabis told CNBC, speaking about his newly integrated AI unit within Google. Last month, Alphabet CEO Sundar Pichai merged Hassabis' DeepMind with Google Brain, a separate AI team, and selected Hassabis to lead the group. DeepMind CEO Demis Hassabis at a 2017 event in China. During his career at DeepMind and then at Google, Hassabis dominated the field of AI. Microsoft CEO Satya Nadella (R) speaks as OpenAI CEO Sam Altman (L) looks on during the OpenAI DevDay event in San Francisco on Nov. 6, 2023.

Persons: He's, Hassabis, Sundar Pichai, It's, Demis Hassabis, Geoffrey Hinton, Hinton, DeepMind, Elon Musk, OpenAI, Satya Nadella, Sam Altman, Justin Sullivan, Critics, they've, ChatGPT, AlphaFold, Eli Lilly Organizations: Google, CNBC, Microsoft, Elixir Studios, Hassabis, Washington Post, Employees, Novartis, TED Locations: China, DeepMind, San Francisco, ChatGPT, LLMs

☆ AI may not replace you, but someone who uses it can — here's the No.1 skill you need to stay relevant
▼ + stars: | 2024-05-13 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +3 min

55% of leaders say they're concered about having enough talent to fill roles in the year ahead as AI skills become more relevant than ever before, new study finds. 71% [of leaders] say they'd rather hire a less experienced candidate with AI skills than a more experienced candidate without them. As a result, employees around the world are taking matters into their own hands, learning to use AI tools on their own. "You should not be using your company data or any of your own personal data [when using free online AI tools]." Part of upskilling on AI tools is learning how to do so safely and effectively.

Persons: Laurence Liew, they'd, ChatGPT, Liew, Microsoft's Organizations: AI Singapore, Microsoft, Singapore Locations: Singapore

☆ In the rush to adopt AI, ethics and responsibility are taking a backseat at many companies
▼ + stars: | 2024-05-12 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Companies are rapidly integrating generative AI technology to boost productivity. AdvertisementCompanies have been racing to deploy generative AI technology into their work since the launch of ChatGPT in 2022. She added that the "demand for AI governance and risk experts is outpacing the supply." "The venture capital environment also reflects a disproportionate focus on AI innovation over AI governance," Singh told Business Insider by email. But with the pace of innovation in AI, government regulations may not be enough right now to ensure companies are protecting themselves.

Persons: —, haven't, Tad Roselund, Nanjira Sam, Navrina Singh, Singh Organizations: Service, Companies, Microsoft, Boston Consulting Group, MIT Sloan Management, Stanford's Institute for, Intelligence, Biden Administration Locations: EU

☆ Tech stocks like Apple are table-pounding buys following earnings, Morgan Stanley says
▼ + stars: | 2024-05-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

There's still plenty of room for upside in tech stocks, Morgan Stanley said earlier this week. CNBC Pro combed through Morgan Stanley research to find the firm's favorite overweight-rated stocks based on the latest results and updated forecasts. "We believe GOOGL's AI positioning is improving, and that investors are beginning to recognize this," he said. Spotify Shares of the music streaming giant are too attractive to ignore following the company's blowout earnings report in late April, according to the firm. ... We believe GOOGL's AI positioning is improving, and that investors are beginning to recognize this.

Persons: Morgan Stanley, Brian Nowak, durably, Nowak, Keith Weiss, Weiss, Morgan Stanley's, Benjamin Swinburne, Swinburne, that's Organizations: CNBC, Apple, Microsoft, Spotify, 28X Locations: China

☆ AI engineers report burnout, rushed rollouts as 'rat race' to stay competitive hits tech industry
▼ + stars: | 2024-05-03 | by ( Hayden Field | ) www.cnbc.com time to read: +16 min

The AI engineer bailed on his friends, who had traveled from the East Coast to the Seattle area. watch nowThis is the dark underbelly of the generative AI gold rush. Last year marked the beginning of the generative AI boom, following the debut of OpenAI's ChatGPT near the end of 2022. Justin Sullivan | Getty ImagesAn AI engineer at Microsoft said the company is engaged in an "AI rat race." The Microsoft AI engineer said a lot of tasks are about "trying to create AI hype" with no practical use.

Persons: Sebastien Bozon, Jensen Huang, Tech's, Amy Hood, Mark Zuckerberg, Zuckerberg, Andy Jassy, Jassy, they're, Eric Gu, “, Gu, Satya Nadella, Sam Altman, Justin Sullivan, there's, Morry, Kolman, doesn't, Sundar Pichai, Bard, There's, That's, beholden, Ayodele Odubela, ", it’s, Adam Selipsky, Anthropic, Dario Amodei, Noah Berger, Odubela, Gemini Organizations: Google, Apple, Facebook, Microsoft, AFP, Getty, Amazon, CNBC, Big Tech, Nvidia, Google . Engineers, Tech, Vision, Cloud Next, Web, Amazon Web Locations: Mulhouse, France, East Coast, Seattle, ChatGPT, San Francisco, Vegas, Las Vegas, German

☆ Amazon, Microsoft, and Alphabet are doubling down on AI for the cloud — and it seems to be paying off
▼ + stars: | 2024-05-01 | by ( Aaron Mok | ) www.businessinsider.com time to read: +5 min

Over the last two weeks, major cloud providers Amazon, Microsoft, and Alphabet have reported quarterly earnings that exceeded Wall Street's expectations. Amazon, Microsoft, and Alphabet's shares also climbed after earnings were reported, evidence that doubling down on their AI strategies seems to be paying off. Davidson Companies analyst Gil Luria told Business Insider regarding Amazon, Microsoft, and Alphabet. Microsoft Cloud generated $35.1 billion in revenue — up 23% year-over-year — that CEO Satya Nadella credits partly to investments into AI tools like Microsoft Copilot. Amazon, Microsoft, and Alphabet didn't immediately return a request for comment from Business Insider before publication.

Persons: —, D.A, Gil Luria, Claude, Andy Jassy, Satya Nadella, Nadella, Ruth Porat, OpenAI's ChatGPT, Luria, doesn't, Jassy, Sundar Pichai Organizations: Service, Microsoft, Business, Davidson Companies, Amazon, Web Services, Google Cloud, Google, Gemini, Research, Capital Locations: Indonesia

☆ Sundar Pichai just showed the doubters he's the right general for Google's AI battle
▼ + stars: | 2024-04-26 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Read previewThere's an AI battle raging, and Sundar Pichai appears to be Google's wartime general. With Pichai at the helm, Alphabet just reported blockbuster first-quarter earnings that surpassed analysts' estimates and sent the stock soaring. The CEO told analysts that Google was well "positioned for the next wave of AI innovation and the opportunity ahead," reminding them the company had been "AI-first" since 2016. This story is available exclusively to Business Insider subscribers. Google did not immediately respond to a request for comment from Business Insider, made outside normal working hours.

Persons: —, Sundar Pichai, Pichai, Googlers, He's Organizations: Service, Google, Business, Microsoft

☆ CEOs make the message clear on AI's big payoff: Be patient
▼ + stars: | 2024-04-26 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

And the initial signs are quite positive here too," Zuckerberg told investors in an earnings call. AdvertisementElon Musk had even stronger words for investors on Tuesday after Tesla reported plunging profits. Even so, Musk insisted during an earnings call that Tesla is an AI company and had a specific message to any shareholder who thinks that Tesla won't develop self-driving someday. On Thursday, Microsoft and Alphabet reported profits, which they ascribed in part to their respective AI sectors. Google's parent company reported $23.7 billion in profits for the same period.

Persons: —, Apple, Demis Hassabis, Sam Altman, Mark Zuckerberg, Zuckerberg, we've, Elon Musk, Tesla, Musk, Matthew Prince, Sundar Pichai, Pichai Organizations: Service, Meta, OpenAI's, EV, Economic, Reuters, Nvidia, Microsoft Locations: Davos

Microsoft and a major chemical stock were among Friday's biggest analyst calls. He also lowered his price target by $1 to $25, which implies shares can fall roughly 19% from Thursday's close. Sandler increased his price target by $27 to $200, which implies 26.6% potential upside. JPMorgan: Analyst Mark Murphy added $30 to his price target, which is now at $470. He also hiked his price target to $61 from $55, which implies upside of 8% going forward.

Persons: Morgan Stanley, Mobileye, Adam Jonas, Jonas, — Pia Singh, Stifel, Stanley Elliot, Elliott, Alphabet's, Oppenheimer, Jason Helfstein, Ross Sandler, Sandler, Brent Thill, Google's, Justin Post, Post, Wall, Raimo Lenschow, Wells, Michael Turrin, MSFT, Turrin, Mark Murphy, Murphy, Keith Weiss, Weiss, Jeffrey Zekauskas, Zekauskas, Dow, Fred Imbert Organizations: CNBC, Microsoft, JPMorgan, Dow Inc, TAM, Caterpillar, Google, Barclays, –, Jefferies, Bank of America, DOW Locations: Israel, Thursday's, reaccelerate, Wells Fargo

☆ Google earnings: Shares surge after Alphabet to buy back billions of dollars of its own stock
▼ + stars: | 2024-04-25 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN —Alphabet, the parent company of Google, bounced back from an absolutely dreadful day for tech shares, as its stock surged Thursday after the closing bell. Revenue from the quarter reached more than $80.5 billion, up 15% from the same period in the prior year and ahead of the $78.75 billion analysts had projected, according to FactSet estimates. Meta shares sank on Thursday after the company raised its annual expense forecast to fund its AI ambitions, despite better-than-expected earnings results Wednesday. But in addition to Google, multiple positive tech earnings reports on Thursday helped reverse what had been a sluggish day for tech stocks. Snap resultsSocial media company Snap, the parent company of social media platform Snapchat, also saw its stock climb after-hours on the heels of a rosy first-quarter earnings report that beat Wall Street’s estimates.

Persons: Sundar Pichai, ” Pichai, CNN’s Catherine Thorbecke Organizations: New, New York CNN, Google, Wall, Revenue Locations: New York

☆ Here are Wednesday's biggest analyst calls: Nvidia, Tesla, Exxon, Coinbase, Cava, Alphabet, Amazon, Block & more
▼ + stars: | 2024-04-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Bank of America reiterates Nvidia as buy Bank of America said it's sticking with the stock as a top pick. Mizuho reiterates Block as buy Mizuho raised its price target on the payment company to $106 per share from $99. Bank of America reiterates Coinbase as underperform. Bank of America reiterates Alphabet as buy Bank of America said "AI innovation [was] on display" at the company's Google Cloud Next event. " Deutsche Bank reiterates Amazon as buy Deutsche said the company is a top pick heading into earnings. "

Persons: Morgan Stanley, Piper Sandler, Tesla, Piper, Zillow, Jefferies, Mizuho, Goldman Sachs, Goldman, TD Cowen, Cowen, William Blair, Vital, Canaccord, Truist Organizations: NVIDIA, " Bank of America, Nvidia, Bank of America, Jefferies, Mizuho, SEC, Barclays, Google, Citi, Pharma, Chevron, Exxon, Vital, Argus, Motors, of America, Deutsche Bank, Amazon, Deutsche, E Corp, National, CN Locations: FCFS, Cava, CAVA, Albemarle, 1Q24, OW

☆ Jamie Dimon says AI could be as transformative as electricity or the internet—here's how to invest
▼ + stars: | 2024-04-09 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

JPMorgan Chase CEO and chairman Jamie Dimon believes artificial intelligence innovations will have as big of an impact on society as the invention of electricity and the internet. JPMorgan Chase began using AI over a decade ago, Dimon said in the letter. Additionally, JPMorgan Chase invests $12 billion annually in a wide variety of technologies, including AI. Dimon likening AI innovation to the invention of the internet suggests the tech's impact may be felt beyond the business world. In a Nov. 9 blog post, Microsoft co-founder Bill Gates said AI "will utterly change how we live our lives, online and off."

Persons: Jamie Dimon, Dimon, JPMorgan Chase, he's, Mark Cuban, I've, Bill Gates Organizations: JPMorgan Chase, JPMorgan, CNBC, Microsoft

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