Intel Bets on AI to Slash Costs
Semiconductor giant Intel (NASDAQ: INTC) plans to lay off a significant number of employees this summer as new CEO Lip-Bu Tan takes drastic action to reduce costs. Some of those layoffs will reportedly occur in the manufacturing business, even as Intel attempts to sell its foundry services to third-party customers.
Outside its factories, Intel's marketing division appears to be on the chopping block. A report from The Oregonian's OregonLive.com suggests that the company plans to outsource many of its marketing jobs to , a major consulting company, and that Accenture will use artificial intelligence to help deliver marketing services. In a note reviewed by the newspaper, the company told employees that any remaining in-house marketing teams would be lean.
According to the note, Intel is betting that Accenture's AI technology can help personalize customer experiences, automate processes, and sift through mountains of information more efficiently than its current marketing teams.
Source Fool.com
Intel Corp. Stock
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A potential of -26.32%, resulting from comparing the current price of 31.22 € with the target price of 23 € for Intel Corp., shows the chance of incurring significant losses.
