Why I won’t invest in companies that ignore AI — Kevin O’Leary
Ignoring the reduced customer acquisition costs made possible by AI places businesses at a significant disadvantage, O’Leary said.
Artificial intelligence significantly reduces the cost of new customer acquisition, and any company neglecting AI is not a worthwhile investment, according to investor and television personality Kevin O’Leary.
In an interview with Cointelegraph, O’Leary said that new-customer acquisition, which is primarily done through content creation and multimedia marketing, has been “the highest cost increase in the last 36 months.”
“When you look at the cost of creation of that content, it has more than quadrupled. In some cases, it’s 10x,” he said before adding that AI has reduced content production costs by 60%.