The AI Industry Is Still Light-Years From Making a Profit, Experts Warn
SMRTR summary
AI companies are struggling with profitability despite soaring stock values. The technology costs an enormous amount to operate, with McKinsey predicting $6.7 trillion in computing costs by 2030 against a current market size of only $305.9 billion. Companies are now abandoning AI investments, with 42% surveyed by S&P Global dropping projects as executives face diminishing returns and financial realities.
SMRTR provides this summary for quick context. The original article belongs to Futurism.
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