Most companies using AI are 'lighting money on fire,' says Matthew Prince

- Matthew Prince, co-founder and CEO of Cloudflare, believes that most companies investing in AI are wasting money.

- He made this statement at the Fortune Brainstorm AI conference, criticizing businesses for experimenting with AI without clear strategies.

- Prince also criticized major cloud providers, such as Amazon, for artificially constraining access to GPUs by marking up transport costs.

- Jennifer Tejada, CEO of PagerDuty, emphasized the importance of keeping AI strategies simple and involving employees in identifying practical use …

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