Notice: Function amp_is_available was called incorrectly. `amp_is_available()` (or `amp_is_request()`, formerly `is_amp_endpoint()`) was called too early and so it will not work properly. WordPress is currently doing the `amp_init` hook. Calling this function before the `wp` action means it will not have access to `WP_Query` and the queried object to determine if it is an AMP response, thus neither the `amp_skip_post()` filter nor the AMP enabled toggle will be considered. It appears the plugin with slug `schema-and-structured-data-for-wp` is responsible; please contact the author. Please see Debugging in WordPress for more information. (This message was added in version 2.0.0.) in /home/u885321871/domains/fintechinshorts.com/public_html/wp-includes/functions.php on line 6114

Notice: Function amp_is_available was called incorrectly. `amp_is_available()` (or `amp_is_request()`, formerly `is_amp_endpoint()`) was called too early and so it will not work properly. WordPress is currently doing the `amp_init` hook. Calling this function before the `wp` action means it will not have access to `WP_Query` and the queried object to determine if it is an AMP response, thus neither the `amp_skip_post()` filter nor the AMP enabled toggle will be considered. It appears the plugin with slug `schema-and-structured-data-for-wp` is responsible; please contact the author. Please see Debugging in WordPress for more information. (This message was added in version 2.0.0.) in /home/u885321871/domains/fintechinshorts.com/public_html/wp-includes/functions.php on line 6114

Notice: Function amp_is_available was called incorrectly. `amp_is_available()` (or `amp_is_request()`, formerly `is_amp_endpoint()`) was called too early and so it will not work properly. WordPress is currently doing the `init` hook. Calling this function before the `wp` action means it will not have access to `WP_Query` and the queried object to determine if it is an AMP response, thus neither the `amp_skip_post()` filter nor the AMP enabled toggle will be considered. It appears the plugin with slug `schema-and-structured-data-for-wp` is responsible; please contact the author. Please see Debugging in WordPress for more information. (This message was added in version 2.0.0.) in /home/u885321871/domains/fintechinshorts.com/public_html/wp-includes/functions.php on line 6114

Notice: Function amp_is_available was called incorrectly. `amp_is_available()` (or `amp_is_request()`, formerly `is_amp_endpoint()`) was called too early and so it will not work properly. WordPress is currently doing the `init` hook. Calling this function before the `wp` action means it will not have access to `WP_Query` and the queried object to determine if it is an AMP response, thus neither the `amp_skip_post()` filter nor the AMP enabled toggle will be considered. It appears the plugin with slug `schema-and-structured-data-for-wp` is responsible; please contact the author. Please see Debugging in WordPress for more information. (This message was added in version 2.0.0.) in /home/u885321871/domains/fintechinshorts.com/public_html/wp-includes/functions.php on line 6114
Beware AI’s hidden costs before they bankrupt innovation | Fintech InShorts: Latest fintech news, analysis by experts
Monday, December 23, 2024

Beware AI’s hidden costs before they bankrupt innovation

As the lynchpin of digital innovation, artificial intelligence holds the future for every forward-leaning business. But while AI and generative AI pave a path toward opportunity, they come with financial sustainability risks that can threaten the durable use of these technologies.

Unpacking this issue requires understanding AI’s addiction to the cloud. AI relies heavily on cloud storage and computing powers. Separate, they are nothing, but together, AI has velocity.

Cloud infrastructure and applications give advanced analytics, hyper-automation, and large language models the fast, scalable delivery channels they need to be effective. But this also triggers cloud expenditures that can go unforeseen and undetected. The Wall Street Journal recently published an article on how AI is impacting the ability to control cloud costs. Hidden infrastructure and application costs pile expenses on an already tricky cloud dynamic:

GenAI is driving another layer of technical debt for many businesses.

When you factor in AI’s costly yet indispensable ally with the high demands for new GenAI tools, it’s easy to see why investment strategies can quickly become financially unsustainable. GenAI is driving another layer of technical debt for many businesses. Under the pressures of constant innovation, we could see the AI cloud grow at new, record-breaking speeds. As these factors come together in 2024, we may even see cloud hangovers of the past three years grow into full-fledged AI-cloud bankruptcies. Hidden costs have the potential to bankrupt AI innovation because they limit the ability for CIOs and CFOs to create new budgets, finding funding from within as a means to sustain the economic cycles of digital transformation.

source

Hot this week

Banking as a Service: Meaning, Examples, Benefits and Future

The push for open banking has led to a...

Best fintech blogs and websites

Fintech (financial technology) has been an interesting part of...

What is Fintech?

Fintech: A term used to refer to innovations in...

How to buy shares online

Buying shares online in India has come a long...

Is it worth investing in life insurance over 60?

Is it worth investing in life insurance over 60? As...

Singapore-based fintech start-up WSPN bags $30m seed funding

WSPN (Worldwide Stablecoin Payment Network), a Singapore-based stablecoin...

Mastercard set to lay off around 3% of global workforce

Mastercard plans to cut around 3% of its...

HSBC reportedly considering sale of its South African business

HSBC Holdings is reportedly considering selling its South...

USAA president and CEO Wayne Peacock to retire in 2025

Wayne Peacock, President and CEO of USAA, plans...

Singapore’s Valverde taps Broadridge for investment management solution

Valverde Investment Partners, a new Singapore-based investment firm...

US fintech Amount lands $30m in fresh funding to advance AI capabilities

Funding Round: Amount, a digital origination and decisioning...

Sharon Naidoo named new TransUnion CFO for the UK and Europe

Appointment: Sharon Naidoo has been appointed as the...

Related Articles

Popular Categories

spot_imgspot_img