AI reshapes reality: Profits may lag, but change is here
AI startups raised $42.5 billion in 2023, with generative AI alone attracting 48 percent of that. Profits, though, are not yet visible. For all the revenues OpenAI has generated, it needs tens of billions of dollars more to fund its plans. Alphabet and Microsoft investors too have expressed concerned about the mounting costs of AI developments in recent months. On ground, AI hasn’t been the game changer these large companies had hoped for.
Source: moneycontrol.com