September 2024
AI: From evolution to revolution?
The newest AI wave may catalyze a technological evolution that touches every sector. Could this evolution become a revolution?
Key takeaways
- It’s difficult to overstate how rapidly generative AI (GenAI) is advancing and nearly impossible to imagine the capabilities to come. The expanding ecosystem of GenAI apps only emerged within the last 18 months and the foundation model operating systems that power them arrived just six years ago, following 80 years of iterative advances.
- Skeptics declare that GenAI’s revenue potential doesn’t justify the current level of AI infrastructure investment (i.e., AI’s reality doesn’t justify the hype), but remember that far more significant than the internet’s initial consumer use cases were the thousands of use cases and companies that emerged because of the internet.
- A recent survey of over 150 BofA Global Research equity analysts and macro strategists on AI’s impact for the ~3,500 companies covered globally found that analysts expect the newest AI wave to catalyze a technological evolution that touches every sector, begging the question: could the AI evolution become a revolution?
Read our full analysis for a more in-depth look at these trends.
