CEO spending money with no clear path seems to be pretty common. Previous years, it was NFTs and Blockchains.
Petkee on
That bubble image is perfect lol. CEOs basically throwing money at AI hoping something sticks. Reminds me of crypto hype all over again
Longjumping-Peanut81 on
And I’m sure when it doesn’t work out that the CEOs will be the ones to face the consequences and not the every day workers that keep the business going. 🙄
Nubeel on
The ROI goes to another school. In Canada. You wouldn’t know her.
CanvasFanatic on
But their group chats said they had to.
VirtualMemory9196 on
CEOs do whatever shareholders tell them to do. Same shareholders who own Nvidia or Oracle, and have an interest in AI booming.
Quaf on
It’s either that or admit their mistake, which they will never do. They can just lay off more staff and say their bottom line improved.
EasterEggArt on
That is the danger of CEOs with golden parachutes and sunk cost fallacies.
IamaFunGuy on
When you’re out of good ideas, throw money at AI.
RiderLibertas on
Well sure, all a CEO is expected to do these days is get more and more investment money. When that dries out they just move on to another company.
kon--- on
Any entry level staffer can chase trends.
cwhite841 on
fake it ‚till you make it
SnoopsBadunkadunk on
The MBAs are like a group standing in a circle and having a staring contest. Unless the group is ready to admit that so-called AI is not a golden ticket to stonkmarket gains, any one MBA will not admit it either. (It is not AI, in the sense that it is artificial, but not intelligence. AI does not exist, *yet*.) The dumb money on Wall Street has bought the whole hype around LLMs and really does expect half of all white collar workers to be unemployed soon. No individual MBA will stick his or her neck out and say this is unrealistic, so the colossal waste of resources continues for now.
Dark_Passenger_2376 on
Are their heads so far up the shareholders asses that they cant hear the backlash
Anim8nFool on
Fetch isn’t going to happen
FOTY2015 on
Misleading article based on a misleading PR survey.
CEO’s are not giving out their deepest thoughts and plans to a PR survey. They’ll only divulge what is strictly already public or planned to be public.
None of them want a headline like „Tech Company Plans to Ignore AI Despite Obvious Efficiencies“, or something to that effect.
„Increased spending“ could be the funding of one or two analysts evaluating feasibility.
TheLuo on
Had a conversation about this with some friends the other day.
A CEO cannot afford to be wrong about AI being the answer. Everyone is pushing that way and any company not on board will be left in the dust.
A CEO can afford to be wrong about AI the other way around. Spend all this money and there being minimal or no value on the other side. Everyone is pushing that way and they’ll all be in the same situation.
McMacHack on
They claim they deserve the insanely high levels of pay because they are taking all the risk. However when their risks fail they get bailouts. So they aren’t taking the risks which means they don’t deserve the high pay. If they can’t make it on meger Millions of Dollars a year maybe they should buy less avocado toast and vacation at one of their domestic properties instead of chartering super yachts across Europe.
Ok_Slide4905 on
They are desperate to replace human labor
infinite_gurgle on
This is such a dumb article.
The ROI is clearly less overhead in employee costs. That’s their path. The same article even notes nearly half of businesses have already received ROI, and many expect to in the next 6 months.
Honestly? Delete this post. How embarrassing.
JMDeutsch on
Eventually they’ll be able to fire people.
Which they will…either because AI panned out (unlikely) or because they loaded up unnecessary expense and crushed their margins (much more likely.)
virtual_adam on
>However, fewer than half of current implementation projects have delivered a return on investment
That’s a very positive metric everyone is ignoring (if you choose to believe the title to begin with)
Lots of large 10,000+ employee companies these days have a single major income source, and the rest are basically mooching off that
If you cut down companies to only positive ROIs you could see 80% layoffs
TheRealWNUT on
Imagine if they were willing to spend more money on their employees!
Bodine12 on
My company has doubled down on „all things AI“ to the extent we don’t even focus on our actual products anymore. And it shows with a slew of failed product launches in our wake. It’s bonkers. I feel like management has been brainwashed into a cult.
Madhatter25224 on
They’ll do anything to achieve layoffs
bestowaldonkey8 on
Who killed the world?
yorcharturoqro on
then the CEO will be shamefully fired with millions of dollars as severance for destroying the companies. they were hired to guide.
The current system is not working the „focus on stocks and shareholders“ is destroying companies because they just care for speculation not real improvements. By shouting AI their stocks go up, they don’t understand AI, nor care about it, they just know that it will drive stocks up, just like other tech trend has done in the past.
The focus of companies needs to go back to customer satisfaction, growth, employee retention, and ignore the stock and shareholders. Most if not all of the shareholders don’t care for the future of the companies they own stocks, they just care in having a good profit after selling high.
quicksexfm on
This checks out.
Ninjanarwhal64 on
Why use that money to make life better for employees when you can invest in getting rid of your employees?
NerdDaniel on
Which is precisely why the CEO position can be replaced by AI.
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CEO spending money with no clear path seems to be pretty common. Previous years, it was NFTs and Blockchains.
That bubble image is perfect lol. CEOs basically throwing money at AI hoping something sticks. Reminds me of crypto hype all over again
And I’m sure when it doesn’t work out that the CEOs will be the ones to face the consequences and not the every day workers that keep the business going. 🙄
The ROI goes to another school. In Canada. You wouldn’t know her.
But their group chats said they had to.
CEOs do whatever shareholders tell them to do. Same shareholders who own Nvidia or Oracle, and have an interest in AI booming.
It’s either that or admit their mistake, which they will never do. They can just lay off more staff and say their bottom line improved.
That is the danger of CEOs with golden parachutes and sunk cost fallacies.
When you’re out of good ideas, throw money at AI.
Well sure, all a CEO is expected to do these days is get more and more investment money. When that dries out they just move on to another company.
Any entry level staffer can chase trends.
fake it ‚till you make it
The MBAs are like a group standing in a circle and having a staring contest. Unless the group is ready to admit that so-called AI is not a golden ticket to stonkmarket gains, any one MBA will not admit it either. (It is not AI, in the sense that it is artificial, but not intelligence. AI does not exist, *yet*.) The dumb money on Wall Street has bought the whole hype around LLMs and really does expect half of all white collar workers to be unemployed soon. No individual MBA will stick his or her neck out and say this is unrealistic, so the colossal waste of resources continues for now.
Are their heads so far up the shareholders asses that they cant hear the backlash
Fetch isn’t going to happen
Misleading article based on a misleading PR survey.
CEO’s are not giving out their deepest thoughts and plans to a PR survey. They’ll only divulge what is strictly already public or planned to be public.
None of them want a headline like „Tech Company Plans to Ignore AI Despite Obvious Efficiencies“, or something to that effect.
„Increased spending“ could be the funding of one or two analysts evaluating feasibility.
Had a conversation about this with some friends the other day.
A CEO cannot afford to be wrong about AI being the answer. Everyone is pushing that way and any company not on board will be left in the dust.
A CEO can afford to be wrong about AI the other way around. Spend all this money and there being minimal or no value on the other side. Everyone is pushing that way and they’ll all be in the same situation.
They claim they deserve the insanely high levels of pay because they are taking all the risk. However when their risks fail they get bailouts. So they aren’t taking the risks which means they don’t deserve the high pay. If they can’t make it on meger Millions of Dollars a year maybe they should buy less avocado toast and vacation at one of their domestic properties instead of chartering super yachts across Europe.
They are desperate to replace human labor
This is such a dumb article.
The ROI is clearly less overhead in employee costs. That’s their path. The same article even notes nearly half of businesses have already received ROI, and many expect to in the next 6 months.
Honestly? Delete this post. How embarrassing.
Eventually they’ll be able to fire people.
Which they will…either because AI panned out (unlikely) or because they loaded up unnecessary expense and crushed their margins (much more likely.)
>However, fewer than half of current implementation projects have delivered a return on investment
That’s a very positive metric everyone is ignoring (if you choose to believe the title to begin with)
Lots of large 10,000+ employee companies these days have a single major income source, and the rest are basically mooching off that
If you cut down companies to only positive ROIs you could see 80% layoffs
Imagine if they were willing to spend more money on their employees!
My company has doubled down on „all things AI“ to the extent we don’t even focus on our actual products anymore. And it shows with a slew of failed product launches in our wake. It’s bonkers. I feel like management has been brainwashed into a cult.
They’ll do anything to achieve layoffs
Who killed the world?
then the CEO will be shamefully fired with millions of dollars as severance for destroying the companies. they were hired to guide.
The current system is not working the „focus on stocks and shareholders“ is destroying companies because they just care for speculation not real improvements. By shouting AI their stocks go up, they don’t understand AI, nor care about it, they just know that it will drive stocks up, just like other tech trend has done in the past.
The focus of companies needs to go back to customer satisfaction, growth, employee retention, and ignore the stock and shareholders. Most if not all of the shareholders don’t care for the future of the companies they own stocks, they just care in having a good profit after selling high.
This checks out.
Why use that money to make life better for employees when you can invest in getting rid of your employees?
Which is precisely why the CEO position can be replaced by AI.