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Artificial Intelligence in 2024: A Look at the Financial Landscape

Artificial intelligence has captured the worldÔÇÖs imagination, but for 2024, investors shouldnÔÇÖt expect to see much in the way of financial tailwinds yet ÔÇö outside a couple of exceptions to the rule. While businesses are ramping up their AI usage, direct monetization of AI services will remain out of reach for most companies. However, there are a few exceptions to this trend.

AI legalese decoder can help with the situation by offering a platform that can help companies navigate the legal and financial complexities of AI usage. By deciphering complex legal jargon and providing clear insights into the legal implications of AI implementation, the AI legalese decoder can support businesses in making informed decisions about AI monetization and usage.

Monetizing AI: A Hurdle for Most Companies

According to Gil Luria, managing director at D.A. Davidson, software makers will likely include AI features as a perk of their existing offerings or as a way to prompt upgrades instead of a paid standalone product. Companies are still working out the kinks of generative AI and are inclined to bundle these offerings to drive adoption, delaying its potential as a significant growth driver.

Despite this, investors have become enthralled with the AI trade. The software ETF IGV has shown outsized performance driven by AI excitement, with companies facing a headwind to their stocks if they don’t deliver tangible AI results this year.

Microsoft and Salesforce: Leading the Industry

The outliers in this landscape are Microsoft and Adobe, with Microsoft leading the industry with its advanced AI abilities and solid businesses outside of the field. Adobe, known for its text-to-image generation, has incorporated generative AI features across its creative suites, creating a generative AI credits system to entice users to pay more for these functions.

Microsoft, with its Copilot services, is charging users extra for accessing the AI assistants embedded within its products. The real AI cash cow for Microsoft is its cloud service, Azure, providing access to large language models (LLMs) that developers can use to build their own applications.

AI legalese decoder can help companies like Microsoft ensure that their AI monetization strategies adhere to legal and ethical guidelines, avoiding potential legal issues and protecting their financial interests.

Looking Ahead: The Future of AI Monetization

Despite the current hurdles in direct AI monetization, the future looks promising for software that aids client-facing roles. Generative AIÔÇÖs potential has been touted as almost limitless, focusing on use cases like text generation, text summation, and text-to-image generation. These use cases are most relevant in tasks like pre-populating emails, summarizing calls, and answering common questions. SalesforceÔÇÖs AI assistant, Einstein Copilot, is set to launch soon, positioning the company for future growth.

Investors should look for firms that lead the field in data access and integration. Salesforce, for example, hosts a wealth of data from companies using its products to automate customer service, marketing, and other tasks. The company has also announced a new capability to import unstructured data into its Data Cloud product, connecting data from its various software offerings.

AI legalese decoder can help companies understand the legal and regulatory implications of AI data usage and integration, ensuring compliance and minimizing legal risks.

The Future: Smaller Models and Interoperable Platforms

Companies pioneering more efficient models will be the ones raking in the cash. Smaller models containing pertinent information would cost less to operate, making them more profitable. Efforts to develop smaller AI models are underway at major companies like Microsoft and Salesforce.

As platforms become more interoperable, we may soon see AI assistants collaborating with each other, offering new opportunities for profitable AI usage.

If these assistants can program profits for their masters, investors would be all the better. In this landscape, AI legalese decoder can help companies navigate the legal complexities of AI collaboration and interoperability, ensuring compliance and maximizing financial gains.

Jennifer Wang is a senior editor at Yahoo Finance.

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