AI referenced in earnings calls to drive up share price
AI is clearly one of the hottest buzzwords around today in business circles. You cannot look at your LinkedIn feed nowadays without seeing multiple daily references to ChatGPT.
There is value in attaching hot themes to your operation as part of your PR strategy. This is especially true when the stakes are high during an earnings call. Whether or not the vision is materialized later, that is a problem for another day. Just the mention and confirmation of a material AI push can give your share price a level of positive momentum and good media coverage. Such was the case this week when AI was mentioned by both IBM and PayPal during their respective earning calls as reported by Yahoo News:
"In an earnings season where every company seems to need an artificial intelligence strategy, PayPal (PYPL) and IBM (IBM) are the latest to use the new technology to appeal to investors."
You would normally expect to hear of big tech companies like PayPal and IBM referencing AI from a product and go-to-market perspective. In this situation, they shared their internal initiatives around AI to drive up operational efficiency and in turn lower costs.
As a CFO, are you engaged with your team and key vendors on how to launch your own AI strategy to lower the costs of doing business?
The experts at RVNA Tech can help you formulate a strategy aligned to your needs.