Investorideas.com, a leader in investor news and research in leading sectors including tech, releases a sector snapshot looking at recent news and developments in Artificial Intelligence.
It’s probably fast becoming a cliché to say that Artificial Intelligence (AI) is the future but with an array of companies rapidly adopting variants of the technology, and market research concluding that serious benefits accrue from embracing it, investors may be realizing more and more that it is a sector to watch.
Price water house Coopers’ (PwC) global AI study, “Sizing the prize”, details insights and projections of the value AI could bring to business as the technology develops. The research indicates that global GDP could increase by 14 percent, or $15.7 trillion –”more than the current output of China and India combined” – by 2030 as a result of AI. “Of this, $6.6 trillion is likely to come from increased productivity and $9.1 trillion is likely to come from consumption- side effects.” The report also stresses the need for “strategic investment” to make this growth possible and details how encompassing the technology will be in everyday life.
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“From the personal assistants in our mobile phones, to the profiling, customisation, and cyber protection that lie behind more and more of our commercial interactions, AI touches almost every aspect of our lives. And it’s only just getting started.”
The data and projections of the PwC report are borne out well by a recent press release of American tech company, NVIDIA Corp (NasdaqGS:NVDA). In the week leading up to the release, Swedish automobile maker Volvo chose NVIDIA’s DRIVE AGX Xavier platform, an “open scalable platform for autonomous driving,” to be incorporated in its next-generation automated cars. In the same period, American multinational computer technology corporation Oracle (NYSE:ORCL) announced that it “is the first public cloud provider to support the NVIDIA HGX-2TM platform on Oracle Cloud Infrastructure”.
“NVIDIA’s continued product launches in the computing segment, as well as increasing demand for its AI-driven graphics chips and technologies, are expected to aid the company.”
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Gopher Protocol Inc. (OTCQB:GOPH) has taken the route of designing their own Avant! AI System to run their technologies, which include their GEO tracking system, autonomous machines, surveillance/military/security drones. The company announced on Oct 16 the limited access release of their web-based Avant! System at www.avant-ai.com, which is further outlined in a recent introductory video.
“We are proud to introduce a public access to our Avant! AI engine,” said Dr. Danny Rittman, Gopher’s Chief Technology Officer. “Although we are only providing limited access to an initial phase of Avant!, the public can get a feel for the system’s key strength. One of our major Avant! innovations is the use of an advanced semantic segmentation system that enables Avant! to identify visual objects. This allows understanding of an image down to the pixel level. A computer image can now be understood by our pixel analytics algorithm. We believe this will be crucial for applications such as autonomous driving, security drone operation and even computer assisted medical procedures.”
Dr. Rittman continued, “The next unique aspect of the Avant! system is the AI decision-making process. Avant! has the capability to predict scenarios based on analytics and statistical data. Our goal is to open a whole world of possibilities to integrate Avant! within human interface applications which could include customer services, chat support, financial advice and in the future, medical advices. Every decision taken within Avanti! is supervised by a cognitive deep-learning system for error capturing, which makes it safe and reliable. Another of the remarkable key elements in Avanti! is its Artificial Neural Network (or ANN). This is an information processing paradigm that is inspired by the way biological systems, such as the brain, process information. An ANN is configured for a specific application such as pattern recognition or data classification through a learning process. Avant!”
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