USA News Group – With the advent of artificial intelligence being used across the corporate world, the inherent value of generative AI is likely to generate up to $7.9 trillion annually in the years to come, according to the analysis across 63 use cases by McKinsey & Company. Already, based on the significant investment and work put into the space, the Cloud & AI Confidence Index is near $8 trillion in Q1 2024, which includes three companies worth more than $1.75 trillion each such as Microsoft Corporation (NASDAQ:MSFT) (NEO:MSFT), Alphabet Inc. (NASDAQ:GOOG, GOOGL) (NEO:GOOG) and Amazon.com Inc. (NASDAQ:AMZN) (NEO:AMZN). Meanwhile, other early-adopters in the AI space are making significant gains as well, with recent developments coming from Avant Technologies Inc. (OTC:AVAI) and Supermicro, Inc. (NASDAQ:SMCI). With a staggering 80% of all data generated currently classified as unstructured data (ie. video surveillance data, images, videos, and IoT sensor data), there is plenty of runway ahead for the AI revolution in the corporate world.
Known as one of the earliest companies to bring a gen AI to market is Avant Technologies Inc. (OTC:AVAI), which recently expanded its scope for its flagship AvantAI platform. Through additional training, Avant is improving AvantAI by enhancing its latest developments in high-performance data center infrastructure.
"We are thrilled to introduce our groundbreaking AI technology for intelligent data center management," said Danny Rittman, CISO at Avant Technologies. "With our innovative solution, organizations can unlock new levels of performance and efficiency in their data center operations, driving business success in today's digital era."
Through the leveraging of AvantAI, Avant plans to enhance monitoring capabilities, to help organizations gain real-time insights into their data center infrastructure. These clients would thereby be enabled to perform proactive management of maintenance, uptime, and overall performance of their operations.
Avant’s AI system, through analyzing extensive data, will be capable of predicting potential issues in advance and offering proactive measures to prevent outages or malfunctions, thereby guaranteeing the continuous functioning of essential systems.
Beyond data monitoring and predictive analysis, AvantAI™ will also supervise all facets of data traffic efficiency, providing advanced features to dynamically optimize resource allocation and routing, improve performance, reduce latency, and enhance throughput and responsiveness in data center environments.
"By leveraging Avant's legacy AI technology in combination with our newest innovations in high-density computing infrastructure we are aspiring to create a true paradigm shift in data center management - offering our customers and partners an unparalleled advantage in performance and cost optimization,” said Timothy Lantz, CEO of Avant CEO. Currently, Avant’s offerings actively address the key issues of cost and performance, which are obstacles to the progress and market potential in AI, machine learning, and big data analytics. Their focused strategy involves cutting costs, improving computing density, and providing unique ESG benefits by significantly lowering electricity and water consumption.
Another AI-solutions provider Supermicro, Inc. (NASDAQ:SMCI), recently announced its own expansion of its portfolio of AI solutions, allowing customers to leverage the power and capability of AI in edge locations, such as public spaces, retail stores, or industrial infrastructure. With up to 8TB of memory in their proprietary servers, Supermicro is bringing data center AI processing power to edge locations.
"Supermicro has the broadest portfolio of Edge AI solutions, capable of supporting pre-trained models for our customers' edge environments," said Supermicro President and CEO, Charles Liang. "Supermicro continues to provide the industry with optimized solutions as enterprises build a competitive advantage by processing AI data at their edge locations."
According to the release, leveraging Supermicro application-optimized servers equipped with NVIDIA GPUs simplifies the process of refining pre-trained models and deploying AI inference solutions at the edge, where data is created. This approach enhances response times and decision-making capabilities. For example, the Supermicro Hyper-E server can support up to three NVIDIA H100 Tensor Core GPUs, delivering unparalleled performance for Edge AI from Microsoft Corporation (NASDAQ:MSFT) (NEO:MSFT).
In the case of Microsoft, the tech giant has committed around $5.6 billion in AI investment across Europe. So far its investment into AI has more than paid off, with Microsoft hitting $3 trillion in market value early in 2024 on the back of AI.
Earlier this year, Microsoft announced a 10-year strategic partnership with Vodafone to bring generative AI, digital services and the cloud to more than 300 million businesses and consumers. According to the deal, Vodafone will invest $1.5 billion over the 10-year span in cloud and customer-focused AI services developed in conjunction with Microsoft.
"This new generation of AI will unlock massive new opportunities for every organization and every industry around the world," said Satya Nadella, chairman and CEO, Microsoft. "We are delighted that together with Vodafone we will apply the latest cloud and AI technology to enhance the customer experience of hundreds of millions of people and businesses across Africa and Europe, build new products and services, and accelerate the company's transition to the cloud."
Just two months after launching its own generative AI platform Gemini, Alphabet Inc. (NASDAQ:GOOG, GOOGL) (NEO:GOOG) launched the better, faster Gemini 1.5 platform making it available to developers and enterprise users ahead of a full consumer rollout soon. According to Google, Gemini is a business tool, a personal assistant, and everything in between.
Gemini 1.5 boasts a significantly larger context window, enabling it to manage much bigger queries and access a vast amount of information simultaneously. This window spans an impressive 1 million tokens, in contrast to OpenAI’s GPT-4, which has 128,000 tokens, and the current Gemini Pro with 32,000 tokens. The context window allows you to query the AI bot about all that content in one go.
"It's about 10 or 11 hours of video, tens of thousands of lines of code," said Google CEO Sundar Pichai, regarding the token capability. “This allows use cases where you can add a lot of personal context and information at the moment of the query. Think of it as we have dramatically expanded the query window. I view it as one of the bigger breakthroughs we have done.”
Taking a lot of the credit for the rise of generative AI is Amazon.com Inc. (NASDAQ:AMZN) (NEO:AMZN), touting its Amazon Web Services (AWS) arm which is a market leader in cloud computing.
“Generative AI very directly was enabled because the cloud exists,” said Deepak Singh an AWS Vice President, in an interview with Quartz. “Both [Amazon CEO Andy Jassy] and [AWS CEO Adam Selipsky] like to say that we are early in a marathon. We are learning new lessons every day about what large-language models are capable of right now.”
Looking to aid small and medium businesses, AWS recently launched a new competency program to boost AI and tech competency for companies in that size.
"Small businesses often don’t have the technical resources or depth or maybe experience, think migrations or AI is a perfect example – they’re not necessarily going to have a data scientist on staff," said Ben Schreiner, U.S. head of business innovation for SMB at AWS in an interview with FOX Business.
The AWS competency program utilizes the expertise of partner companies that specialize in assisting small businesses with technical solutions. Initially launched with 30 partners, including 17 based in the U.S., the program offers a range of services for SMBs, such as AI and machine learning, cloud implementation, security solutions, and customer relationship management tools.
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
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