World & BusinessCost cutting and the funding needs of the AI build-out
Bloomberg reports that EY argues in a new white paper that the AI build-out cannot be financed through cost cutting alone.
TLDR
Bloomberg, citing EY's new white paper, reports that financing the AI build-out requires more than cost cutting alone. EY says that by 2031, the white-collar economy must either boost its output by about 10.5% or cut nearly 16% of its labor costs.
Cost cutting and the funding needs of the AI build-out
Bloomberg reports that EY argues in a new white paper that the AI build-out cannot be financed through cost cutting alone.
TLDR
Bloomberg, citing EY's new white paper, reports that financing the AI build-out requires more than cost cutting alone. EY says that by 2031, the white-collar economy must either boost its output by about 10.5% or cut nearly 16% of its labor costs.