8/28/2023 0 Comments Proper use of wax poeticMicrosoft beat estimates for quarterly revenue and profit on Tuesday, driven by growth in its cloud computing and Office productivity software businesses.īing has lagged Google search for decades but Nadella said that Bing downloads had jumped since the addition of AI features and now had 100 million daily users. The tool is for its product suite that includes Word documents, Excel spreadsheets, and Outlook emails. Nadella said in the three months since Microsoft made a new AI “Copilot” developer tool broadly available, over 10,000 organizations had signed up, including Coca-Cola and General Motors. “As far as working it into actual numbers … think about how long it took for Google to break out YouTube just as an example,” he said, adding that anything significant was unlikely to show up on statements for more than a year.īrett Iversen, Microsoft’s head of investor relations, told Reuters, however, that “it’s really early” and that AI was still a relatively small part of Microsoft’s total business. But I think it’s going to take some time to see real meaty results,” said Thomas Martin, a senior portfolio manager at Globalt Investments. I mean the announcements are there and things will move quickly. It said last week it would combine its AI research units Google Brain and DeepMind and work on “multimodal” AI, like OpenAI’s latest model GPT-4, which can respond not only to text prompts but to image inputs as well to generate new content. Google, which has also unveiled a flurry of AI tools for its email, collaboration and cloud software, reported quarterly profit and revenue above estimates and said it would buy back $70 billion in stock. Lots more to come,” Alphabet boss Sundar Pichai said on Tuesday, after he mentioned some of the products the company launched last month, including Bard, Google’s answer to ChatGPT-powered Microsoft search chatbot Bing. Microsoft said it 36 times, versus 20 – not including references to its partner OpenAI.īoth companies said AI was already juicing sales, but neither said when or if they would start breaking out any sales, costs, or profits from the technology. Google used the term 52 times on its first-quarter call on Tuesday, up from 45 in the fourth quarter. With quarterly reporting season just under way, the term “AI” has been used nearly twice as frequently in the conference calls of S&P 500 companies as it was in the previous quarter, a Reuters analysis showed. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. This will not incur any additional charges to you. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. Please seek Professional advice from a qualified professional before making any financial decisions. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. This is not to be considered as financial advice and should be considered only for information purposes. These commissioned articles are commercial in nature. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more.
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