The stock market could surge 14% as companies adopt AI to boost productivity and profits, Goldman Sachs says
"The AI-inspired demand for Nvidia's advanced chips is accelerating so rapidly that the consensus sales forecast published earlier this year is now totally obsolete," Goldman Sachs' Ryan Hammond said.then more and more companies could see profit boosts that ultimately send their stock prices higher.
Second, workers who are displaced by AI and automation will eventually become reemployed, boosting total output in new jobs that emerge following AI adoption. "Every company could theoretically utilize the generative algorithms to improve productivity and profitability. The relatively stable share of revenues allocated to selling, general, and administrative expenses in recent decades, in contrast with large declines in other input costs, highlights the potential gain to profitability from AI," he said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Six N.J. kids, ages 12-14, arrested after stealing, crashing car, police sayPolice said they attempted to stop the car, but the drivers raced off.
Read more »
14 presidents, popes and PMs who held weird jobs before taking powerRanked: The 14 wildest past jobs of presidents, popes and prime ministers. And Zelenskyy's isn't even the strangest.
Read more »
East Bay man gets 14 years for Peninsula car theft, attempted robberyThe crimes occurred just days apart in February 2021.
Read more »
14 Houseware Pieces That Will Transform Your SpaceThey’ll make your home feel brand new, instantly
Read more »
Tom Cruise's 14 Mission: Impossible Stunts Ranked By Most DangerousTom Cruise continues to perform his own dangerous stunts for the Mission: Impossible movies, each death-defying sequence upstaging the last.
Read more »