Intel, an American and Technology company has announced that it will be acquiring SigOpt, a San Francisco-based company provider of a leading platform for the optimization of AI models at Scale. SigOpt’s AI-driven solutions deliver productivity and performance gains across hardware and software parameters, use cases, and workloads in deep learning, machine learning, and data analytics.
Intel aims to deploy SigOpt’s Software technologies across its AI hardware products to accelerate, amplify, and scale AI-driven software solutions to developers. The combination of Intel’s hardware and SigOpt’s software will bring out competitive advantages and differentiated value for data scientists and developers. It will also complement Intel’s AI software portfolio.
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At present, SigOpt serves Fortune 500 companies across diverse industries as well as leading research institutions, universities, and consortiums. Its technology will continue to be available to data scientists and developers to enable better productivity and performance,
Intel has built around its AI strategy in terms of improving business outcomes. The firm aims to optimize its hardware performance and providing tools to speed up the AI workflow process. It is also envisioning to build a consistent experience for developers with Intel oneAPI.
According to Intel, the AI Silicon market will reach $25 billion by 2024. AI-driven solutions drove over $3.8 billion in AI-driven revenue for the company in 2019. Intel’s hardware and SigOpt’s is expected to drive increased AI adoption.
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As software demand is rising, software developers are expected to rise by 21 percent, which will be considerably faster for all jobs from 2018 to 2028 than the average. The global consumer software development service demand is expected to increase from 47 billion dollars in 2018 to over 61 billion dollars by the year 2023.
AI-driven open source software are also on the rise in the industry. Microsoft Cognitive Toolkit, TensorFlow, and Keras are some of the open AI-driven software solutions currently available on the market.
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