In first-quarter earnings calls, 41 % of S&P 500 firms that had reported via Could 15 talked about AI, in response to Goldman Sachs Analysis.
That’s what a Goldman Sachs BriefinGS publication despatched to Rigzone lately by the Goldman Sachs workforce said, including that “that compares with 23 % of firms mentioning AI within the first quarter a yr in the past”.
“Practically 70 % of S&P 500 vitality firms talked about AI on their earnings calls, up from 19 % within the fourth quarter of 2023,” the publication added.
“Because the begin of March, a basket composed of vitality producers that profit from rising energy demand has outperformed a basket of firms pursuing or enabling AI know-how,” it continued.
“Goldman Sachs Analysis expects U.S. energy demand development to speed up to an annual common of two.4 % till 2030, from zero % the earlier decade, pushed partially by the wants of AI,” it continued.
The Goldman Sachs Group describes itself as a number one world monetary establishment that delivers a broad vary of monetary companies to a big and diversified shopper base that features firms, monetary establishments, governments, and people.
AI and the Financial system
In a BofA World Analysis report despatched to Rigzone lately by BofA, analysts on the firm requested if we are able to “incorporate AI into the financial system with out an asset bubble ensuing”.
“It might be onerous to keep away from given the doubtless vital however unclear manner by which AI will influence the worldwide financial system, not dissimilar to the web within the ‘90s or railroads in 1840s Britain,” the analysts mentioned within the report.
“The dominance of value momentum, buyers remaining believers in shopping for fairness dips, and meme inventory recognition solely add to the potential for irrationality,” they added.
“Whereas no analog is ideal, the 2000s tech bubble seems to be most related to contemplate the potential danger of an AI bubble. That bubble took 5 years to unfold, survived 100bps of Fed hikes, the Asia disaster and a bear-market pushed by LTCM’s failure, to nonetheless generate Nasdaq returns over 80 % in every of its last two years,” they continued.
“ right now’s returns, volatility, and valuations, we’re nearer to 1995 than 1999,” the analysts went on to state.
Financial institution of America describes itself as one of many world’s main monetary establishments, serving particular person shoppers, small and middle-market companies and enormous firms with a full vary of banking, investing, asset administration and different monetary and danger administration services.
AI and Oil and Fuel
Earlier this yr, Enverus’ Chief Innovation Officer, Colin Westmoreland, revealed to Rigzone that Enverus believes generative AI will form oil and fuel determination making in 2024 and into the long run. Westmoreland additionally advised Rigzone that generative AI is anticipated to turn out to be commonplace amongst oil and fuel firms over the following few years.
Again in January, Trygve Randen, the Senior Vice President of Digital Merchandise and Options at SLB, outlined to Rigzone that generative AI will proceed to achieve traction within the oil and fuel trade this yr.
Additionally this yr, Dave Mount, Louisiana primarily based OneSource Skilled Search’s President, revealed to Rigzone that the corporate believes AI will assist oil and fuel firms rent individuals.
To contact the writer, e-mail andreas.exarheas@rigzone.com
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