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Feb 09
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SHORT
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Ali Ghodsi
CEO, Databricks
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Enterprise clients are using AI to aggressively squeeze costs out of vendors, auditors, and consultants. Tasks that used to justify high fees (e.g., analyzing earnings calls, auditing financial data) can now be done by AI agents in minutes. Clients are demanding fee reductions because they know the vendor's cost of labor has dropped, or they are bringing the work in-house. KPMG was pressured by clients to lower fees because AI made their auditing work cheaper. RBC analysts now use AI to synthesize earnings calls in 15 minutes, work that previously took days. High-end strategic consulting may remain insulated if it relies on human relationships and complex judgment rather than data processing. |
CNBC
Under the hood of the AI economy: Databricks ...
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