Billionaire entrepreneur Mark Cuban said Thursday morning on Fox Business that artificial intelligence will have a much larger impact on society than personal computers and the internet did.
Challenges For Small Businesses
Small businesses are more likely to find it difficult to integrate artificial intelligence into their operations than big companies, Cuban said. Artificial intelligence technology is not only expensive but very difficult for small businesses to confirm if the inputs are correct in the first place.
On the other hand, a company like Walmart Inc (NYSE: WMT) boasts the necessary resources to combine artificial intelligence, machine learning and other next-generation technologies to improve its operations.
Streaming Video Wars
Traditional TV networks are "in jeopardy" as competition in the streaming video landscape picks up, Cuban said. Consumers face fewer reasons today to buy a traditional TV bundle.
Speaking as a Netflix Inc (NASDAQ: NFLX) investor, Cuban said he isn't worried about the latest competitor, Walt Disney Co (NYSE: DIS). Disney said it signed up 10 million subscribers in one day, but its ultimate success can't be judged until churn data is known.
"Then we will know who is really winning and who's losing," Cuban said. "But I think we can have five or six winners."
The problem for Disney is it has multiple masters to serve, Cuban said. Specifically, Disney's content needs to be evaluated against a theatrical release, traditional TV, theme parks -- and now streaming.
By comparison, Netflix has a single objective of satisfying just a streaming customer.
Photo by Gage Skidmore/Wikimedia.