USA News Group – Behind the scenes of the generative AI market set to explode towards $1.3 trillion in the next decade, many power plays are being made behind the scenes by infrastructure providers to ensure the revolution is done safely and smoothly. Among the innovators like Avant Technologies Inc. (OTC:AVAI), NVIDIA Corporation (NASDAQ:NVDA) (NEO:NVDA), Amazon.com Inc. (NASDAQ:AMZN) (NEO:AMZN), Cisco Systems (NASDAQ:CSCO), and SAP SE (NYSE:SAP).
Companies seeking to integrate artificial intelligence into their products are encountering major hurdles, largely stemming from the steep expenses associated with computing power and an impending worldwide data storage crunch anticipated to hit by 2025.
Leading the charge in tackling these pivotal challenges, Avant Technologies Inc. (OTC:AVAI) stands out as a trailblazer in the field, pioneering advanced cloud supercomputing technologies. They assert that their supercomputing network has the potential to be recognized as the most powerful and cost-effective private cloud infrastructure on a global scale.
Avant has recently undergone a noteworthy change by appointing Timothy Lantz, a seasoned tech sector professional and a well-established leader in the industry, as its new CEO and Director. With over two decades of experience marked by success in various aspects of business operations, ranging from startup management to growth, turnaround efforts, and strategic financial exits, Lantz's elevation to the role of CEO follows his earlier role as the company's chief advisor for product and go-to-market strategy when he joined Avant's industry advisory board earlier this year.
“AI is already changing the world as we know it and Avant Technologies is well-positioned as a frontrunner to support what will undoubtedly be the next major evolutionary leap in human technological advancement,” said Lantz upon his appointment. “The opportunity ahead for Avant is immense and to fully realize its potential, we will have to be focused on delivering game-changing technology purpose-built for AI, with both speed and precision. A big part of my job is to enable Avant to bring new, innovative products to market quickly, build a ‘flawless execution’ culture, and position the company for hyper-growth.”
Avant is taking proactive steps to tackle the significant challenges posed by cost and performance challenges that currently hinder the advancement and market opportunities within AI, machine learning, and big data analytics. The company is on a mission to bring about a transformation in these domains through its innovative private cloud infrastructure, aiming to elevate performance and deliver added value across a range of sectors. Their strategic approach is centered on reducing costs, enhancing computing density, and offering distinct ESG (Environmental, Social, and Governance) advantages by substantially reducing electricity and water usage.
“The proliferation of the AI, machine learning and big data analytics industries is already rapidly outpacing the capabilities of traditional cloud infrastructure for an industry that demands exponential computer power and storage capacity,” said Lantz. “We recognized this real unmet need and began working to develop a next generation, ultra-high-density supercomputing environment that will revolutionize the landscape for AI companies of all sizes and for any other users who require hyper-scalable, cost-effective computing power.”
In its quest to refine AI technology, Avant is developing a specialized computing environment tailored explicitly for AI purposes. This environment is meticulously crafted to seamlessly integrate with all leading AI frameworks, ensuring effortless integration and streamlined development processes.
In the case of chipmaking giant NVIDIA Corporation (NASDAQ:NVDA) (NEO:NVDA), the company’s CEO Jensen Huang has stated to the New York Times that he is not worried about rising competition in the AI industry. Despite several other start-ups and tech giants scrambling to muscle in on Nvidia’s market dominance, Huang points to his company’s head start of more than a decade since embarking on its first supercomputer in 2012.
“We realized that deep learning and A.I. was not a chip problem. It’s a reinvention-of-computing problem,” Mr. Huang said, speaking at the DealBook Summit in New York. “You can’t solve this new way of computing by just designing a chip. Every aspect of the computer has fundamentally changed.”
Strong demand for Nvidia's products has driven a remarkable surge of nearly 240% in the company's stock price this year, propelling Nvidia to the position of the world's most valuable publicly traded semiconductor manufacturer. As the company's founder, Huang, who guided its strategic focus on artificial intelligence, now boasts a personal wealth estimated at around $40 billion.
Not to be left behind by the OpenAI and Bing revolution, Amazon.com Inc. (NASDAQ:AMZN) (NEO:AMZN) recently launched its own AI image generator for users of Amazon Web Services (AWS). AWS customers can now access a preview of Titan Image Generator through the Bedrock console. This innovative tool allows users to generate images either by entering a text prompt to create one from scratch or by uploading an image for editing. Amazon highlights that the Titan Image Generator has the capability to generate high volumes of studio-quality, lifelike images at a cost-effective rate.
Helping to power this revolution, Amazon says its next-generation chips are 4x faster for AI training, and 2x more energy efficient. Anthropic, Amazon’s strong OpenAI competitor, has already announced plans to build models using Trainium2 chips.
Meanwhile, Cisco Systems (NASDAQ:CSCO) has been working diligently in the AI space, with new research highlighting what it calls a “seismic gap” in companies’ preparedness for AI. As per their study, Cisco has revealed that only 14% of global organizations are actually fully prepared to deploy and leverage AI.
“The race to AI Readiness is on, with organizations under intense pressure to shift from strategic planning to execution mode in order to capitalize on the transformative potential that AI represents,” said Liz Centoni, Executive Vice President and General Manager, Applications and Chief Strategy Officer, Cisco. “To realize the benefit of AI-powered products and services, companies need solutions that secure and observe their AI models and toolchains to ensure performance, secure sensitive data and systems, and deliver trustworthy and responsible AI outcomes.”
For its Business One users, SAP SE (NYSE:SAP) recently announced the integration of its AI Copilot platform into use with Sapphire and MyWave.AI. The introduction of AI Copilot adds an additional layer of functionality for Business One users. AI Copilot enables users to engage in conversational interactions with Copilot, obtaining answers derived from the available SAP data. This new technology also offers specific search capabilities, enabling users to find items based on various criteria, such as filtering unprocessed purchase orders exclusively. Additionally, users have the capability to perform transactions directly within the SAP system.
SAP has so far dedicated over eight years to advancing artificial intelligence (AI) technology. Presently, over 24,000 of SAP’s customers are actively leveraging SAP Business AI solutions across a wide spectrum of over 130 use cases. The company says they are committed to extending the benefits of their unparalleled expertise in data, industry knowledge, and processes to an even broader array of businesses. Their goal is to establish SAP as the preeminent company in the realm of business AI.
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
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