During an interview with CNBC’s Jim Cramer, HP CEO Enrique Lores shared his belief that artificial intelligence (AI) will have a profound impact on the personal computer industry, including his own company.
Lores said:
We think there is really an opportunity to create a new category of PCs that will drive significant refresh in the category. [AI is] going to help us to redefine what a PC is, the experiences that customers will be able to get are going to be much different, and we are working with all the key software vendors, key silicon providers to redesign the architecture of a PC.
Lores revealed that HP is actively developing AI-enabled PCs that will revolutionize the way customers work with spreadsheets and analyze data. Instead of spending hours manually examining figures, AI will empower them to swiftly create spreadsheets, analyze data, and engage in discussions about the insights in a matter of seconds.
These innovative PCs are expected to be available as early as 2024.
I have been in this industry for many, many years, Jim. I have never seen an opportunity like this, to really drive innovation and drive new type of customer needs that we really think are going to be fundamental.
On Tuesday, HP published its second-quarter earnings report, which fell short of expectations with a revenue of $12.91 billion, below the Refinitiv estimate of $13.07 billion. Despite this, the company exceeded expectations in terms of second-quarter earnings and has revised its full-year forecast upwards.
CEO Enrique Lores remains optimistic about the company’s performance in the second half of the year. He expects a significant improvement as HP concludes its channel inventory reduction efforts and prepares for a boost in sales during the end-of-year shopping season.