BUZZ-AI still seems like a solution looking for a problem, UBS comments on Aussie earnings

Reuters
03-04
BUZZ-AI still seems like a solution looking for a problem, UBS comments on Aussie earnings

** UBS analysts noted vagueness in exactly how and when Australian companies would be using artificial intelligence linked technologies to lift their bottom line

** Brokerage says they overwhelmingly hear from Australian companies that their uses of AI are being directed towards improving customer service

** Australia's second largest energy company, Santos STO.AX, in its earnings said: "through AI and advanced technologies, we are optimising field surveillance and production, supporting remote operations, targeting step-change efficiencies"

** Oil and gas retailer Origin Energy ORG.AX said: "We also now have an AI voice agent that we're trialing and we'll continue to develop that"

** UBS, however, notes the enthusiasm shown by companies towards new technology certainly remains

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com))

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