Artificial Intelligence- Boosting Business Revenue and Building Jobs
https://www.cnbc.com/2023/02/27/snap-launches-ai-chatbot-powered-by-openais-gpt.html
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Companies including Broadcom and Snapchat are using artificial intelligence (AI) protocols to boost their revenues and generate employment for many. As companies realize how powerful AI can be, investment capital is flowing into them and new jobs will be generated in all functional areas of these businesses.
Artificial Intelligence has been the target of concern by the media for its potential to disrupt industries and potentially eliminate jobs for humans. These concerns are unfounded, and the opposite will manifest itself as demand and productivity increase for the companies that join the AI revolution.
Recently, Broadcom and Snapchat have used the ChatGPT protocol created by OpenAI to augment their services. Broadcom produces chips that are used to power AI applications, and the increase in demand from AI chat bot protocols has boosted demand. Broadcom’s revenue projection for the second quarter of 2023 increased in line with the demand for chips required as companies adopt AI into their processes. Companies including Microsoft and Google are utilizing AI chat bots that require powerful chips that Broadcom supplies. Projections for the second quarter revenue are forecasted to approach $8.7 billion, which will increase investment into the firm and spur employment.
Snapchat, a major social-media company has just launched an AI chat-bot service based on ChatGPT technology. The new service is called “My AI”, and is available to paying customers. The service costs $3.99 per month, and is another major adoption. Currently, Snap, the parent company of Snapchat has a marketcap of $16 billion and many more users will be enticed to join as AI functionality hits the platform. Other companies in the space including Meta, Twitter and Pintrest will likely follow suit in offering AI chat bot services.
AI chat bots are being adopted in a major way by companies that employ thousands. From the demand created for hardware that benefits Broadcom to the growing social media AI chat bot demand, many will benefit from AI services. Currently, OpenAI’s famous ChatGPT is being adopted and will find applications in many companies. As companies realize the utility of chat bots, they will find new investment capital and they will hire employees to fill their ranks.
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