Jim Cramer (짐 크레이머), a well-known financial broadcaster who hosts a stock investment programme on CNBC, said Wall Street worries that AI will devastate the software industry are "less severe in reality."
On Feb. 25, CNBC reported that Cramer said AI could pressure profitability at some companies, but that a scenario in which the market itself collapses is excessively pessimistic. "Software companies will survive," Cramer said. "They can adapt, such as by merging or cutting costs using AI," he said.
He added that stock prices could fall as AI pressures companies' pricing and growth rates.
Earlier, Citrine Research suggested in a blog post that AI would encroach on white-collar jobs and collapse software models, delivering a shock across the economy, and Wall Street responded immediately. "Wall Street is good at blowing small concerns into a mass-extinction event," Cramer said, calling it an excessive reaction. He said that even if AI pressures profitability at some companies, the market will not collapse completely.
Chi-gyu Hwang
delight@d-today.co.kr