Market is more interested in AI technology for advertising, not health-care solutions

Posted under: AI technologies
Date: 2024-01-11
Market is more interested in AI technology for advertising, not health-care solutions

CNBC’s Jim Cramer shared on Tuesday what he learned from his two days at JPMorgan’s health-care conference. He marveled at the myriad of uses for generative AI in health care but concluded that Wall Street is more concerned with using that new technology for advertising. Cramer told investors that “Magnificent Seven” members Amazon and Alphabet saw gains on Tuesday. But Cramer said he thinks there is a way to have a fruitful “tech and health care intersection,” referencing a JPMorgan note suggesting that Nvidia’s health-care business is already worth more than $1 billion. However, Cramer suggested that computer science has taken precedence over vital healthcare technology in the minds of many investors. “Yes, an Abbott Labs pacemaker is an incredible, life-saving electric technology device,” Cramer said. “But the computer science behind an Amazon or YouTube ad is worth a heck of a lot more when it comes to the stock market, at least for the moment.”

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