Technology

Sam Altman has booked over 26 gigawatts of capacity with Nvidia, Oracle, AMD and Broadcom.

What are US companies actually doing with AI? Not a whole lot, according to the FT, which reports that other than FOMO, very few have been able to describe in any detail how it’s having any material effect on how they do business. The paper looked at hundreds of corporate filings and executive transcripts, and found that 374 of S&P 500 firms had mentioned AI in their earnings calls over the past year. It said that 87% were positive about AI, and expressed no concerns. But on the actual benefits they were vague; some said they were hoping for more productivity, others that it would bring value through automation and increased personalisation. Cyber is also a chief concern, with companies aware that sensitive data could leak out of their systems.

It seems to be a similar picture in South Africa, with plenty using it behind the scenes, but with little measurable effect on the bottom line. It’s been just over a year since the comms department emitted its draft AI policy framework, which said, among other things, that the country could use AI to improve economic transformation and social equity, and enhance its global competitiveness in AI innovation. It said the country should aim to be the AI leader in Africa, as well as a global player, efforts that would be hampered by inequality and digital divides and outdated regulatory frameworks, all of which slow AI adoption.