‘Pretty crazy’ token usage is testing bosses’ bet on AI
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WIRED — As companies pour hundreds of millions of dollars collectively into AI tools for coding, marketing, and customer service, a new obsession has emerged in the tech industry: “tokenomics,” or how to manage the soaring cost of AI usage. (Tokens represent the amount of content an AI model analyzes and generates.)
Last month, Royal Bank of Canada’s CEO disclosed that its token usage surged 500 percent over the past six months. At Cisco, a third of employees are using an internal AI chatbot on a daily basis, so “the token usage is getting pretty, pretty crazy," CEO Chuck Robbins said on an earnings call.
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