Goldman Sachs Exchanges AI Exchanges: How tech giants are navigating the AI landscape
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May 7, 2025 In this discussion, Eric Sheridan, co-business unit leader of the Technology, Media, and Telecommunications Group at Goldman Sachs Research, shares his insights on how U.S. tech giants are adapting to the rapid AI evolution. He highlights the balancing act companies perform with capital expenditures amid uncertain tariff policies. The conversation touches on how AI is reshaping search engines, enhancing productivity, and optimizing advertising strategies. Sheridan also addresses investor sentiment, emphasizing the challenges of predicting successful applications in a fast-paced tech landscape.
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AI Early Inning Potential
- Tech giants see AI as an early stage ``inning'' with vast unexplored potential.
- Amazon's CEO compared the AI wave to being "first batter, second strike of the first inning."
AI as Third Computing Wave
- AI evolution resembles prior computing shifts: Web 1.0 (desktop), Web 2.0 (mobile), now Web 3.0 with AI.
- Large language models sophistication grows, enabling reasoning and richer applications in consumer and enterprise settings.
Rapid AI Adoption Pace
- AI adoption has accelerated dramatically in just two and a half years, unseen in prior tech waves.
- ChatGPT gained 800 million monthly users quickly; Gemini preloaded on most Samsung phones globally.