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AI hype is being used to push share prices up
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AI hype is being used to push share prices up
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24th August 2023, 09:56
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| [M] Reviewer  Join Date: May 2010 Location: Romania
Posts: 153,575
 |  AI hype is being used to push share prices up Technology not so much If you believe corporate press releases, every company+dog has a plan to roll out AI projects. When a release is made the share price goes up, but when these same companies talk to regulators, they mysteriously forget to mention their AI plans. Analysis of their regulatory filings, however, suggests much of the AI talk is PR waffle. Almost 40 per cent of companies in the blue-chip S&P 500 index have mentioned AI or related terms in earnings calls in the latest financial quarter, according to data from Alphasense. Less than 16 per cent mentioned it in their corresponding regulatory filings, highlighting how AI has yet to make a material impact on most companies. Allspring Global Investments senior portfolio manager Bryant VanCronkhite said that the joke was that all you had to do last quarter was say 'AI' and your stock would increase immediately. "Some companies are saying they're doing AI when they're just trying to figure out the basics of automation. The pretenders will be shown up for that at some point," he said. https://fudzilla.com/news/57465-ai-h...hare-prices-up |
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