AI is all the rage in boardrooms and earnings calls, but its adoption may not be as widespread as the corporate world gives off: Goldman Sachs says artificial intelligence adoption is slow because companies are still figuring out how to integrate large-scale language models.
Julie Hyman joins Asking for a Trend to dive deeper into the Goldman memo and what analysts are predicting for AI adoption rates within the next six months.
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This post Luke Carberry Morgan.
Video Transcript
Everyone is trying to jump on the AI bandwagon, but enterprise adoption remains slow.
Yahoo Finance's Julie Hyman has more details.
yes.
And the charts are a bit busy today.
Well, there's a lot going on.
do not be afraid.
I will explain in detail.
But before I get to that, I want to tell you where this story came from. It's from a new memo that came out from Goldman Sachs, which is kind of a deep dive with some interviews about AI adoption and what investors can expect.
And the overall theme of the memo was that maybe countries are getting a little too ahead of their expectations.
One piece of evidence they cite is data on AI adoption provided by Goldman Sachs and the Census Bureau.
Businesses of all sizes, from small to large, are using AI in their operations.
One of the first things I want to point out here is that although the numbers here are 30% of companies, none of these industries currently have 30% of companies using AI, and even in group A, which is using the most information, it's around 20%.
Six months from now, this orange line stretches out six months into the future.
Purple is from October of last year through June 2024, so essentially we're now in blue.
And over the next six months, if we end up looking like this orange line, all the industries in the middle will not even reach 10%.
So the gist of what's being said about AI across the company is that they're exploring whether to adopt AI, not many companies are using AI today, and by this particular estimate, they may be using AI in six months. Josh made that point carefully, Julie.
Now, what is the counterargument to that?
Now, one of the people who pushed back against us was Corey Johnson, a friend of ours from the Future Group who we spoke to today, who said maybe we weren't framing it exactly right.
He said,
However, I find the Goldman Sachs note very thought-provoking.
But one of the errors in the negative criticism in the memo is that what we do in computing today will be the same as what we will do in AI-driven computing in the future, which I think is just completely false.
I think it’s hard for us to imagine what AI will do.
So, again, maybe the framing is wrong and there are probably use cases for AI that we're not thinking of right now.
But I don't think the timing then is necessarily inconsistent with the situation here.
It will take me a while to understand what he is saying.
Okay, Julie, thank you so much.
appreciate.
