CBInsights says that they mined earnings calls, analyzed business relationships, and dug into investments and acquisitions in order to survey the AI [artificial intelligence] activities of some of the world’s largest companies across industries.
For many of the world’s largest companies, AI simply can’t be ignored, the CBInsights team note in their latest research report.
Salesforce CEO Marc Benioff called AI “the single most important moment in the history of the technology industry” in the company’s most recent earnings call.
JPMorgan CEO Jamie Dimon said, in his April 2024 letter, “we are completely convinced the consequences [of AI] will be extraordinary.”
Others are hyper-focused on AI’s potential in order “to drive new efficiencies and product development. Big pharma companies are pushing ahead with AI-powered drug discovery collaborations, with the goal of accelerating drug development timelines.”
Payments giants, meanwhile, are leveraging AI “to fight back against a wave of fraud.”
Much of the hype around recent advances “has yet to translate to revenue.”
No AI-discovered drug has been “approved yet for sale (though Insilico Medicine brought the first drug fully generated by AI into human trials in 2023), and Salesforce acknowledged its latest AI push would not have a material impact on its revenue this year.”
But the promise of future opportunities — and the perceived risk of inaction — is driving leaders to “make moves now that could eventually reshape some of the world’s biggest industries.”
CBInsights’ extensive report surveys the AI strategies of various companies, including financial services & insurance: JPMorgan, Visa, Mastercard, and United Health Group.
The report also analyzes the operations of enterprise tech firms such as Oracle and Salesforce.
In addition to these insights, the report examines the role of AI in pharma: Eli Lilly, Novo Nordisk, and Johnson & Johnson. And even Industrials: Toyota, Siemens.
Using the CB Insights technology intelligence platform, they have reportedly “analyzed signals like investment & partnership activity, executive chatter in earnings transcripts, patents, and more to understand their efforts.”
AI and machine learning algorithms are increasingly being leveraged to enhance digital identity / Regtech services. AI chatbots are also being used to significantly improve CX.
Financial services are becoming more accessible due in part to advancements in AI tech. Investments platforms are also able to offer more frictionless services along with automating a wide range of activities so that services providers can focus on more important product development tasks. While AI is not perfect yet, it is expected to play a much more significant role in the advancement of the digital economy in the foreseeable future.
