For those concerned about the pace of development in artificial intelligence (AI), be assured you are not alone. In fact, Hewlett-Packard Enterprise (HPE) had its CEO, Antonio Neri, out at the World Economic Forum in Davos, Switzerland recently to talk about its development. The result did little good for HPE shares, which dropped fractionally in Thursday morning’s trading.
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The consensus out of Davos is growing over AI, and the implications are unsettling. AI is currently a pretty powerful application. It can take still pictures and turn them into short videos with the press of a button. There are signs that AI will soon render the call center and HR departments meaningless. Artists the world over grow increasingly fearful of being replaced by these tools. And Neri’s remarks did little to bed that notion down.
Neri noted that it was unclear if AI was already beyond any kind of human regulation, or the institution of “proper guardrails.” Neri went on to note that the companies developing AI tools “…have a very responsible approach to what they are doing first because they need to understand the return investment on this technology.” Yet others were less sure, with one unnamed tech executive noting that AI currently “…runs the risk of damaging society.”
All This and a Hacking Too
This comes in the wake of another issue for HPE, as it started investigations on a cybersecurity breach. A report from BleepingComputer noted that a “threat actor” called IntelBroker mentioned they had taken documents from developer environments at the company. HPE’s investigation so far has revealed no evidence of such an attack, however.
HPE does have a plan for such things, though, and quickly rolled into its standard protocols for a cyber attack, including shutting down several credentials connected to the attack. For its part, IntelBroker claimed it had access to not only the company’s application programming interface (API), but also its WePay and GitHub repositories for “…at least two days,” the report noted.
Is HPE a Good Stock to Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on HPE stock based on seven Buys and four Holds assigned in the past three months, as indicated by the graphic below. After a 58.15% rally in its share price over the past year, the average HPE price target of $25 per share implies 2.56% upside potential.
