about 1 month ago • 2 mins
What’s going on here?
Microsoft overtook Apple as the world’s most valuable company, showing just how fast the night changes when artificial intelligence is involved.
What does this mean?
Apple has nailed steel laptops and headphones that perfectly compliment a workout outfit. Microsoft, though, has pulled ahead when it comes to the new shiny thing in tech: AI. On top of its stake into OpenAI, the firm’s funneled cash into research and development, industry partnerships, and strategic acquisitions of firms like LinkedIn and GitHub, all in the pursuit of data and AI expertise. That’s paid off: Microsoft has successfully rolled out AI solutions across its own business and turned its Azure division into the go-to cloud service for AI-curious companies. So by notching a market value of $2.89 trillion, Microsoft has tipped Apple off its long-held throne.
Why should I care?
For markets: AI’s in for a makeover.
Last year was one for the “enablers”, the creators of AI tech like OpenAI. But this one could be a showcase for adopters, the companies that use the tech in innovative ways. Microsoft has a foot in both camps, sure, but Apple’s expertise in blending hardware and software could lead to more user-friendly AI interfaces. Plus, Apple has a legion of loyal customers likely willing to try the firm’s most digitally savvy solutions. Keep an eye on any developments: any forays into AI might not be fully factored into Apple’s stock yet.
The bigger picture: Proaction is better than reaction.
The International Monetary Fund (IMF) has predicted that AI will affect nearly 40% of all jobs. And despite the promises of a fairer society, it’s higher-income and younger workers who are expected to see their wages rise most in the future job market. But you can see this as an opportunity to join the upper ranks: next time you’re twiddling your thumbs on a weekday evening, consider practicing with a new-age system like ChatGPT.
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