In an interview with Cointelegraph, investor Kevin O'Leary expressed his views on the importance of using artificial intelligence to reduce customer acquisition costs and shared his investments in Bitzero.
Impact of Artificial Intelligence on Costs
According to O'Leary, customer acquisition costs have risen by 60% due to increasing costs of content creation and multimedia marketing. He noted that content creation costs have more than quadrupled, and stated that AI reduces these costs by 60%. 'Before I meet the CEO, I want to know who is running the customer acquisition process,' O'Leary added.
Investment in Bitzero
O'Leary is an investor in Bitzero, a company engaged in Bitcoin mining and high-performance computing. He believes that owning the infrastructure behind Bitcoin and AI will likely prove to be a more sustainable and profitable business model than pursuing the businesses that this infrastructure serves. O'Leary compared it to the story of gold miners who made more selling tools.
AI Competition Between the US and China
O'Leary stated that the US is in a technological war with China. He drew an analogy between AI chips and the 'queen bee,' around which developers gather to produce software. Limiting the use of AI chips made by US companies through sanctions allows competing nations to develop their own technologies.
Kevin O'Leary emphasized the significance of artificial intelligence for businesses and urged companies to consider its impact when planning future investments. According to O'Leary, understanding how AI aids in customer acquisition is becoming key for successful business management.
