There’s plenty of buzz around artificial intelligence (AI) as more and more companies say they’re using it. Organisations in every sector are investing in AI tools and techniques to boost their businesses. Everyone, from big companies, governments, universities and even start-ups are investing in the field of AI. They all put their money behind AI because it will certainly reshape the world we’re living in.

In our previous post we have talked about AI and the ethical questions it brings up. If you are interested in that, check out that blog here  The Etics of AI

Universities

Ever since the beginning of the AI boom in the early 2010s, there’s been a corresponding drought in talented AI developers and researchers.

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Earlier this year, the news broke that the MIT is launching a new college dedicated to computing and artificial intelligence. According to New York Times, classes will start next fall. However, college won’t have its own building until 2022. The MIT Stephen A. Schwarzman College of Computing is meant to serve as a hub for the institution’s five other colleges.  This all is made possible by a $350 million donation from Blackstone CEO Stephan Schwarzman.

 

 

Our University, Carlos III is also following in this footstep. The UC3M and the company Álava Ingenieros have created a new chair to promote research in the field of computer vision. A scientific area that focuses on making artificial intelligences can relate to the environment through vision, similar to how humans do. Read the full story: La UC3M crea una nueva cátedra de visión artificial

Governments

A report by commercial firm McKinsey Global Institute from September 2018 said AI could be responsible for an additional 1.2% growth in annual gross domestic product for the next 10 years. AI could contribute more $13 trillion to global economic activity by 2030, as more applications are put to use.

The United States and China currently dominate the world of AI. Certainly, US’s academic system has generated and incubated the research that made today’s AI possible. However, China’s government has pledged billions in funding so far.

While the ongoing trade war is grabbing all the headlines, it’s the tussle for dominance in the A.I. space that could shape the economic fortunes of the two world powers. It is stated that China’s goal is to foster a $1 trillion A.I. industry by 2030.

New players

Berlin is keen to catch up with leading nations of artificial intelligence. Germany has pledged to spend 3 billion euros on artificial intelligence over the next six years. The funding boost is part of a national AI strategy aimed at helping the nation catch up to China and the US. Just 11% of German companies say they currently use AI, according to a recent survey by tech association Bitkom. Analysts and industry representatives have long warned that Germany is falling behind rival countries in the field of AI, which is seen not only as critical for new products and markets but also as a potential threat to some of the country’s most important industries, especially the car sector.

Companies

At the heart of the companies battle for AI are some familiar names: the likes of Alphabet, Amazon, Apple, Facebook and Microsoft. A similar, though less transparent, battle is under way in China among firms like Alibaba and Baidu. Several have put AI at the center of their strategies.

As one of the five most valuable companies in the world, Alphabet, Google’s parent company is maybe just  a few years away from a $1 trillion valuation. They use AI as a driving force behind almost everything they do – from search results to ad pricing to autonomous driving technology to its personal assistant software –  they must be considered one of the best artificial intelligence stocks around. AI plays a central role in Google’s strategy for future growth under CEO Sundar Pichaim who explained in a 2016 conference call explained “In the long run, we’re evolving in computing from a ‘mobile-first’ to an ‘AI-first’ world,”

Amazon visionary CEO Jeff Bezos – now the richest man in the world – emphasized the enormous power of AI and a wide variety of ways that Amazon would take advantage of it. Noting that machine learning already informs core parts of Amazon like product search rankings, recommendations, demand forecasting, fraud protection and warehouse fulfillment, artificial intelligence is also central to the Alexa virtual assistant and future plans for drone delivery and cashier-less grocery stores. It’s likely that the health care partnership with JPMorgan Chase & Co. and Berkshire Hathaway will also be an AI-driven company.

Conclusion

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To conclude, it doesn’t matter wherever you are or who you are, chances are that artificial intelligence will have an impact on your life in the following years. Giant companies like IBM are investing enormous amounts in its research. Keeping in mind that AI is still developing, for ambitious individuals there’s still chance to join. With a good base knowledge of IT it’s possible to join this revolutionary movement and become a part of history in the making.