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Multinational corporations? Lying to us?! No, surely not. There was clearly nothing they could do, poor things 🙄

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Not exactly lying. But investors are demanding companies show instantaneous savings due to implementing AI.

Since most companies haven't ACTUALLY implemented AI yet in a large scale way (that has reduced workload and thus staff), the next best thing they can do is show that they are PREPARING for the introduction of widespread AI.

As far as investors are concerned, reduced costs = higher earnings per share. That's all they care about. Companies could say "we don't care what our investors think" but then they would watch their stock price crater. Share price affects the ability of companies to secure corporate loans at good rates, as well as recruit and retain leaders and staff.

BTW, many employees are shareholders, too -- at Nasdaq nearly every employee receives an annual RSU grant -- so giving the middle finger to investors and watching the share price crater isn't usually a great move for employees, either.

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