USA News Group
Commentary
VANCOUVER, BC, April 29,
2024 /PRNewswire/ -- USA News Group – As artificial intelligence
(AI) continues to permeate the corporate landscape, its potential
economic impact is becoming increasingly clear. According to
McKinsey & Company's recent analysis, which spans 63
different use cases, the data suggests that generative AI could
contribute as much as $7.9 trillion
to the global economy annually in the foreseeable future. The
market has already responded, as the Cloud & AI Confidence
Index reached nearly $8 trillion in
the first quarter of 2024, showing the potential for generative AI
to be "unlimited". One major aspect of the AI revolution is the
rapid progression of deep machine learning and neural networks,
which are each making major strides thanks to the advancements
being made by developers, such as Tesla, Inc. (NASDAQ: TSLA)
(NEO: TSLA), Accenture plc (NYSE: ACN), Palantir
Technologies Inc. (NYSE: PLTR), ServiceNow, Inc. (NYSE:
NOW) (NEO: NOWS), and Scope AI Corp. (CSE: SCPE) (OTCQB:
SCPCF).
With the endless possibilities for deep machine learning being
revealed consistently across several sectors, AI-based tech
developer Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF) recently
underwent a name change and broadened its scope of potential
clientele—no pun intended. Branching beyond its previous AI efforts
involving agriculture, Scope has shifted the focus of its
proprietary asset called GEM (General Enterprise Machine Learning)
to be used in such sectors as digital marketing/advertising, and
online gaming.
As part of the operational shift, the company recently announced
veteran Adtech, Gaming and Publishing executive James Young as its new CEO. Young brings over 25
years of leadership experience to Scope AI, with the
intention to branch out GEM's capabilities to new sectors and
potential clientele.
"We are thrilled to welcome James as our new CEO," said
James Liang, former CEO of Scope
AI. "With his extensive experience and leadership qualities, we
are confident that James will guide Scope to new heights and
deliver value to our shareholders, customers, and employees."
According to the company's new website, Scope's
initial target markets will be the advertising and gaming
industries, and upon successful beta testing, the company will
expand to several other industries to meet the demands of
businesses.
At its core, GEM is designed to allow businesses to create their
own object detection, visual information systems, and a complete
neural network. With its intuitive web-interface, Scope sees
GEM helping retail businesses easily set up an object detection
system to monitor inventory levels and customer interactions in
real-time, with capabilities for CRM, enhanced login and account
security, and data encryption.
"I am honored to lead Scope AI and very excited
about the opportunity to work with such a talented team with
incredible tech," said James Young,
new CEO of Scope AI. "Together, we will build a strong
foundation and drive sustainable growth in the years ahead."
Another CEO that's championing AI and sees where it is headed is
one of the Top 3 richest people in the world, namely Elon Musk, CEO of Tesla, Inc. (NASDAQ:
TSLA) (NEO: TSLA). According to Musk, not only is AI advancing
rapidly, but he believes that the tech sector will achieve what's
known as Artificial General Intelligence (AGI) within the next two
years. The concept of AGI is that of a theoretical AI system with
capabilities that rival or even surpass those of a human, which
many researchers believe we are still decades, if not centuries,
away from achieving.
Musk sees this challenge and is engaging in what he calls the
"craziest talent war I've ever seen" to secure the best AI
engineers on the planet, having recently boosted his company's
engineers' pay grades to keep them away from potential poachers.
Another bold idea that Musk has recently floated is the potential
use of Tesla's massive fleet of EVs to power a cloud
computing service that would rival Amazon's AWS.
"There's a potential... when the car is not moving to actually
run distributed inference," said Musk on a recent earnings call
with investors. "If you imagine the future perhaps where there's a
fleet of 100 million Teslas and on average, they've got like
maybe a kilowatt of inference compute. That's 100 gigawatts of
inference compute, distributed all around the world."
Meanwhile, Tesla is also enticing customers with a 33%
drop in price for its Full Self-Driving software in its vehicles.
Musk has even claimed that Tesla vehicles equipped with Full
Self-Driving (FSD) capabilities are "appreciating assets,"
potentially valued between $100,000
and $200,000—due to their potential
as robotaxis. Tesla first released its FSD v12 earlier this
year, letting its vehicle's controls to be handled by neural nets
rather than being coded by programmers.
Much like Scope AI's GEM, the visual recognition
capabilities of Tesla's systems are constantly learning by
what they see and absorb in terms of data.
"FSD Beta v12 upgrades the city-streets driving stack to a
single end-to-end neural network trained on millions of video
clips, replacing over 300k lines of
explicit C++ code," said Tesla in the release notes of the
v12 update. This means that the vehicle's behaviours will also be
powered by AI at all times, like its vision system, rather than
being coded by engineers.
Similar to Musk's observations regarding AGI, Accenture
plc (NYSE: ACN) sees what it calls "Human by Design"
technologies driving the productivity of the future. The term
reflects an idea of AI being more human-like and intuitive for
people to use. In early March, Accenture made a big splash
in the sector by committing to invest $1
billion over three years to acquire developer Udacity
to build on to and scale up its Accenture LearnVantage platform to
help its clients with the comprehensive technology learning and
training services to help reskill and update people working in
technology, data, and AI and to reinvent organizations to achieve
greater business value.
Accenture followed this up roughly a month later with the
acquisition of Cognosante, a mission-driven provider of
digital transformation and cloud modernization solutions for
federal health, defense, intelligence, and civilian agencies, under
its subsidiary Accenture Federal Services.
Another developer getting the attention of federal governments
is Palantir Technologies Inc. (NYSE: PLTR), which
recently secured a $178.4-million
contract with the US Army for its TITAN AI-enabled
ground station, which are now being referred to as the
Army's "first AI-defined vehicle." Palantir then
quickly followed this deal up by being designated as an "Awardable"
vendor for the Chief Digital and Artificial Intelligence
Office's (CDAO) Tradewinds Solutions Marketplace,
with two of the company's offerings being added to the Marketplace
and being made available to support critical missions across the
Department of Defense (DoD).
"Our inclusion in the Tradewinds Marketplace will enable
Palantir to deliver innovative, AI-enabled mission command
and logistics capabilities to service members at a pace that
exceeds most traditional procurement pathways," said Akash Jain, President of Palantir USG.
"This unique Marketplace for commercial technology adoption would
not be possible without the agile acquisition authorities made
available by Congress, as well as the Department's
leadership in embracing modern procurement solutions to ensure the
U.S. maintains its edge over global competitors."
Working to improve digital workflow, developers at
ServiceNow, Inc. (NYSE: NOW) (NEO: NOWS) recently furthered
its generative AI leadership with new capabilities in its
Washington, D.C. platform release.
New features have been added to ServiceNow's Now Assist
GenAI experiences, which offer responsible, intelligent automation
embedded into the ServiceNow platform. Recently
ServiceNow released its Q1 2024 financial results, reporting
significant year-over-year growth in subscription revenues (25%)
and total revenues (24%).
"As leaders seek significant productivity improvements,
ServiceNow has first mover advantage with years of
investment in AI technology and talent," said Bill McDermott, Chairman and CEO of
ServiceNow. "Our GenAI offerings are the fastest selling in
the company's history. We are humbled by the trust our customers
are investing in our platform. As we engineer Now Assist AI into
every business workflow across every enterprise, we are giving
people the power to know more, care more, and do more."
Article Source:
https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/
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