This Magnificent Fintech Stock Is Surprisingly Climbing Aboard the Generative AI Train
The latest earnings season has barely begun, but mentions of artificial intelligence (AI) on conference calls are more than twice what they were last year, according to Bloomberg. Therefore, AI is the hot topic of 2023. And fintech company Block (NYSE: SQ) has officially entered the conversation.
To be clear, almost all technology companies have used some form of AI or machine learning for years now, Block included. That said, I was a little surprised to see Block jump on the generative AI train because it's hard to envision how such a thing could be used. But as it turns out, there is a use case. The question, however, is whether it's something that could benefit shareholders.
While AI is often used to find patterns in large datasets, generative AI takes the patterns and creates digital content automatically. In its letter to shareholders, Block's management mentioned two generative AI capabilities specifically for its Square ecosystem, its business segment for merchants.
Source Fool.com
Square Inc. Stock
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