Artificial intelligence has been called the “bullshit buzzword” of this month’s earnings season. Macquarie set the tone – and possibly a record – last week when it mentioned the term 82 times in an earnings call. Arch rival Commonwealth Bank had a decent crack too, referring to AI about 60 times.
With seemingly every second CEO falling over themselves to refer it, Evans & Partners chief investment officer Timothy Rocks decided to use AI – his “favourite new toy” – to check whether companies were themselves identifying the new technology as a threat or an opportunity.
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