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Goldman Sachs AI skeptic warns profitability window is closing

By PulseAugur Editorial · [1 sources] ·

Jim Covello, a top AI skeptic at Goldman Sachs, is warning that the window for AI investments to generate significant returns is closing. Despite rapid technological advancement and consumer adoption, many companies are currently losing more money on AI implementation than before. Covello emphasizes that the critical factor for AI's success is demonstrable enterprise return on investment, which has so far been largely absent, with much research indicating zero or negative ROI on AI pilots. AI

IMPACT Questions the near-term financial viability of AI investments, suggesting a potential shift in market focus from growth to profitability.

RANK_REASON Article presents an opinion and analysis from a financial industry executive regarding the economic viability of AI investments, rather than a new release or event.

Read on Fortune →

AI-generated summary · Google Gemini · from 1 sources. How we write summaries →

Goldman Sachs AI skeptic warns profitability window is closing

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Commentary
Article presents an opinion and analysis from a financial industry executive regarding the economic viability of AI investments, rather than a new release or event.
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opinion, funding
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COVERAGE [1]

  1. Fortune TIER_1 English(EN) · Nick Lichtenberg ·

    ‘At some point you’ve got to make money’: Goldman’s top AI skeptic warns the clock is running out ahead of OpenAI and Anthropic IPOs

    Jim Covello has been Wall Street's most consistent voice of AI doubt. Two years on, he asks:"when does the short term become the long term?"

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