If you are looking for an answer to the question What is Artificial Intelligence? and you only have a minute, then here's the definition the Association for the Advancement of Artificial Intelligence offers on its home page: "the scientific understanding of the mechanisms underlying thought and intelligent behavior and their embodiment in machines."
However, if you are fortunate enough to have more than a minute, then please get ready to embark upon an exciting journey exploring AI (but beware, it could last a lifetime) …
These and many other fascinating insights are from CB Insight's report, Google Strategy Teardown (PDF, 49 pp., opt-in). The report explores how Alphabet, Google's parent company is relying on Artificial Intelligence (AI) and machine learning to capture new streams of revenue in enterprise cloud computing and services. Also, the report looks at how Alphabet can combine search, AI, and machine learning to revolutionise logistics, healthcare, and transportation. It's a thorough teardown of Google's potential acquisitions, strategic investments, and partnerships needed to maintain search dominance while driving revenue from new markets. CB Insights found Google is experiencing rising TAC in their core ad and search businesses.
RAD's suite of products which presently includes SCOT, WALLY and FRED provides recurring monthly revenue for RAD. On average, each SCOT, WALLY and FRED respectively can generate, over a 4 year period, $60,000, $25,000 and $12,000 of total revenue for the Company. To date the aggregate of all units presently deployed, at purchase order stage and client verbal commitment stage equal more than $2,400,000 worth of total potential revenue. RAD expects to reach $100,000 of monthly recurring revenue by this fiscal year end February 28, 2019, which represents approximately $5,000,000 of total potential revenue. RAD already has total deployments, purchase orders and verbal commitments for half of this amount to date.
They were all founded in 2005 or earlier, but it wasn't until the past few years that they took off after hitting on their current business automating simple back-office tasks and dubbing it "robotic process automation." UiPath on Monday completed a new funding round at a $3 billion valuation, said a person familiar with the process, six months after a prior round valued it at $1.1 billion. In July, rival Automation Anywhere raised its first round of financing at a $1.8 billion valuation. Shares in Blue Prism, a public company in the U.K., have risen nearly 30 times since they were listed in March 2016. It raised about $60 million in a secondary share sale in January.
Artificial intelligence (AI) has the potential to change not only the face of technology, but produce significant and potentially life-changing gains for investors in the process. If that sounds a little over the top, consider this: a recent study estimated that AI will drive global gross domestic product (GDP) 14% higher by 2030, the equivalent of adding $15.7 trillion in productivity, according to research by PwC. The companies at the forefront of this technological evolution stand the gain the most, even as some face near-term headwinds. With that in mind, we asked three Fool.com Read on to find out why they chose NVIDIA (NASDAQ:NVDA), Alphabet (NASDAQ:GOOGL) (NASDAQ:GOOG), and Baidu (NASDAQ:BIDU).
NEW YORK--(BUSINESS WIRE)--MapR Technologies, Inc., the industry's leading data platform for AI and Analytics, announced today at Strata Data Conference six new data science service offerings to help customers gain immediate value from Machine Learning (ML) and Artificial Intelligence (AI) and expand their competitive edge over competitors, no matter where the customer is in their data science journey. Because AI and ML can be complex, organizations don't always have the capacity to execute on AI and ML ideas. Those that do, may not be able to bring those ideas to production. According to McKinsey Global Institute, early adopters of ML have a 3 to 15% profit advantage across sectors. Many say they achieve revenue increases by using AI in core processes.
Graphics processor maker NVIDIA Corporation (NASDAQ:NVDA) recently reported its second-quarter fiscal 2019 results, with some fantastic outcomes. The company's total sales were up 40% from the year-ago quarter to $3.12 billion, which outpaced analysts' consensus estimate of $3.10 billion. NVIDIA's earnings of $1.76 per share also surpassed Wall Street's expectations of $1.66 per share and were up 91% year over year. Management has done a fantastic job of growing the company's top line, and the second quarter was no exception -- sales from the company's data center, gaming, professional visualization, and automotive segments all set records. To understand NVIDIA's growth and what investors can expect in the months ahead, we have to look beyond the numbers, though.
Roundup Here's your quick roundup of AI news beyond what we've already written about this week. Crypto-mining is bust for Nvidia: Nvidia reported strong growth in its second quarter financial results, emitted this week, in areas expected like the data center and gaming – but not for cryptocurrency mining. The demand for GPUs grew 40 per cent from last year to account for $2.66bn in sales, we're told. Popular online titles such as Fortnite and PUBG have helped Nvidia in the gaming department, which grew 52 per cent in terms of revenue to $1.8bn. The boom in deep learning is also accelerating its data center business by 83 per cent, to $760m, where its graphics cards are used as math accelerators.
The San Francisco-based company's second-quarter revenue rose 63% from the prior year to $2.8 billion, while gross bookings, a measure of the overall demand for its ride and delivery services, jumped 41% to about $12 billion, according to a financial statement released by Uber. The company narrowed its loss to $891 million in the second quarter from $1.1 billion a year ago. The loss was, however, wider than the $550 million loss in the first quarter of this year, not including a $3 billion gain from the sales of its southeast Asian and Russian operations. The company is spending more money on new businesses such as food delivery and scooters, according to an Uber spokesman. Mr. Khosrowshahi, who replaced ousted Uber co-founder Travis Kalanick last August, has worked to cut expenses at the ride-hailing company in preparation for an initial public offering.
And a pinnacle of success in the context of technological advancements is the field of artificial intelligence, also called AI. In current times, AI is utilized immensely in a variety of sectors such as health, e-commerce, retail, automotive, defense and security, chemical plants, packaging, construction, and BFSI. This indicates that AI has found immense potential in myriad applications, thus giving rise to the global artificial intelligence and cognitive computing market. Rising disposable incomes and changing lifestyles have primarily caused an increase in the demand for enhanced systems to exist in various walks of life. Such a high demand is propelling the market to experience extensive growth too.