Most of the time, when companies claim they’re in the business of artificial intelligence, “it’s just nonsense,” according to Oracle CEO Mark Hurd.
“Everybody in [Silicon] Valley’s saying they’re in AI,” Hurd told CNBC’s Jon Fortt during an NYSE Fireside Chat.
The thought, he said, is that the buzz around AI will push stock prices higher — buzz that he appears to think is, at in least some cases, valid.
“Hell yeah I think it’s a reality” that AI can change the way we live and work, Hurd said.
“At the end of the day, they’re in some very good businesses,” Hurd said. “I mean some of those businesses are darn good businesses.”
GE holds a lot of information and data, Hurd said.
“I think they have a tremendous opportunity to monetize those data sets,” he said.