Enrique Lores, CEO of HP, stated in an interview with Jim Cramer on CNBC that he thinks artificial intelligence (AI) will have a significant impact on the personal computer industry, including his own business.
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Lores said:
We believe there is a great opportunity to establish a new PC category that will lead to a significant refresh of the market. The experiences that customers will be able to have will be very different thanks to [AI], and we are currently working with all of the major software vendors and silicon providers to redesign a PC’s architecture.
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According to Lores, HP is working on AI-enabled PCs that will transform the way users work with spreadsheets and conduct data analysis. AI will enable them to quickly create spreadsheets, analyze data, and engage in discussions about the insights in place of spending hours manually reviewing figures.
It’s anticipated that these cutting-edge PCs will go on sale as early as 2024.
I’ve been working in this field for a very long time, Jim. I’ve never had the chance to really drive innovation and drive the kind of new customer needs that we truly believe will be fundamental.
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HP released its second-quarter earnings report on Tuesday, but it missed estimates with revenue of $12.91 billion, which was lower than the Refinitiv estimate of $13.07 billion. Despite this, the company’s second-quarter earnings surpassed forecasts, and it raised its full-year forecast.
Enrique Lores, the company’s CEO, is still upbeat about how the business will perform in the second half of the year. As HP completes its channel inventory reduction efforts and gets ready for a surge in sales during the holiday shopping season, he anticipates a significant improvement.
