Artificial intelligence considerably reduces the cost of acquiring new customers, and any company that neglects AI is not a valid investment, according to the investor and the personality of television Kevin O’Leary.
In an interview with Cintelelegraph, O’Leary said that the acquisition of new customers, which is mainly done thanks to the creation of content and multimedia marketing, was “the highest increase in costs in the last 36 months”.
“When you look at the cost of creating this content, it has more than quadrupled. In some cases, it is 10 times,” he said before adding that AI has reduced content production costs by 60%.
O’Leary told Cintelegraph to invest in potential companies, he inquires about their use of AI:
“Before meeting the CEO, I want to know who directs the show in terms of generation and maintenance of customer acquisition, customer growth, reduction in customer acquisition costs and increased return on investment on advertising spending.”
Is my first question, who directs your AI program? What batteries are you? What tools do you use and who makes your social media? “”
The reduced acquisition costs, although beneficial for companies, are overshadowed by the geo-strategic importance of AI and the need to maintain American leadership in the sector, added the investor.
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Investment in Bitzero
O’Leary is also an investor in Bitzero, a Bitcoin (BTC) and high performance IT company that operates data centers in Norway, Finland and the US state of the North Dakota.
The investor told Cintelegraph that the possession of the infrastructure behind Bitcoin and AI would likely prove a more sustainable and profitable business model than to continue the companies that this infrastructure serves.
“It is the old analogy of gold days ago. The guys who earned the most money with the least risk sold jeans and the choices and the shovels,” he said.
The United States and China are in an AI cold war
“We are in a technological war with China – we really are,” said the investor. O’Leary compared the AI chips to the Queen of Bees in a colony of bees and developers AI with workers’ bees.
Developers and programmers come together around new AI chips and produce “honey” or computer code, said the investor at Cointelegraph.
By limiting the use of AI chips built by American companies through punitive sanctions and commercial policies, it allows competing countries to have their chipsets and architectures proliferate and direct the development of AI, concluded O’Leary.
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