Billionaire investor and Point72 founder, Steve Cohen, has emphasized the transformative role of artificial intelligence (AI) in the business world. Cohen recently shared with CNBC's Andrew Ross Sorkin on "Squawk Box" how his financial firm has already begun reaping the benefits of AI, with early models proving to be cost-saving tools.

Cohen shared an example to exemplify the potential of AI. He revealed that his chief technology officer (CTO) approached him with the proposal of utilizing large language models (LLMs), such as ChatGPT, to improve the firm's efficiency. By implementing these AI models, Cohen's CTO estimated that the company could save a remarkable $25 million.

Highlighting the significance of this achievement, Cohen acknowledged that while Point72 is a sizable firm, it is not particularly large. He suggested that larger corporations could achieve even greater cost savings and efficiencies by harnessing the power of AI. Cohen's anecdote served as a glimpse into the vast possibilities that lie ahead for companies embracing AI solutions.

The excitement surrounding AI has fueled a market rally throughout 2023 and early this year. The primary beneficiaries of this trend have been chipmakers like Nvidia and tech giants like Microsoft, who have direct business ties to AI models. However, there is a growing optimism that AI will ultimately help companies of all types become more efficient.

Cohen believes that AI is not just a passing trend but a "really durable theme" for investing. He asserts that every company ought to be contemplating how AI can revolutionize their operations. Cohen cautioned that companies failing to think about this transformative technology may find themselves in trouble down the line.

As the AI revolution accelerates, investors are increasingly recognizing the potential of AI to revolutionize various industries. By identifying ways to incorporate AI into their operations, businesses can enhance efficiency and gain a competitive edge in the market.

The impact of AI in streamlining operations and reducing costs has been evident in industries such as finance, where Point72 has utilized AI models to achieve substantial savings. As AI continues to advance, the significance of adopting this technology will likely extend across a broader range of sectors, enabling companies to thrive in an increasingly competitive landscape.

In conclusion, billionaire investor Steve Cohen's endorsement of AI as a transformative force in the business world reinforces the importance of embracing this technology. With AI models already proving to be cost-saving tools, companies of all sizes must recognize its potential and consider how it can revolutionize their operations. The AI revolution is well underway, and those who fail to adapt may find themselves at a significant disadvantage in the future.