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Feb 09
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SHORT
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Ali Ghodsi
CEO, Databricks
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Corporate clients are using AI to automate complex analysis and are subsequently pressuring human vendors to lower their prices. If an AI agent can read earnings calls, compare competitors, and generate a report in 15 minutes (work that used to take days), the value of the human service provider drops. Clients will no longer pay high fees for billable hours that AI has rendered obsolete. KPMG was pressured by a client to lower audit fees because AI made the work cheaper. Royal Bank of Canada (RBC) analysts are using agents to do equity research in minutes. Regulatory requirements may still mandate human oversight, maintaining a floor on pricing. |
CNBC
Preparing for another tech wipeout: Databrick...
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