In what¡¯s turning out to be a great quarter for corporate earnings growth, company executives and investors alike are focused on something else entirely: the threat from artificial intelligence.
Mentions of AI disruption on management calls almost doubled compared to the previous quarter, an analysis of transcripts shows. While the technology hasn¡¯t yet noticeably reduced earnings estimates, investors aren¡¯t waiting around and instead are selling any company perceived to be at risk.
Last week, commercial real estate company CBRE Group published better-than-expected earnings. In a call with analysts following the results, its chief executive officer said it¡¯s possible AI will reduce demand for office space in the long term. The comments sparked a 20% selloff in the stock over two days.
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