USA News Group – Immediately upon hearing of the firing of OpenAI co-founder and CEO Sam Altman, Microsoft swiftly snapped up the new free agent and placed him as lead of the company’s new in-house AI team. With analysts projecting the Generative AI market to hit $1.3 trillion over the next decade, the race for AI supremacy is heating up and several tech giants such as Meta Platforms, Inc. (NASDAQ:META) (NEO:META), International Business Machines Corporation (IBM) (NYSE:IBM), and Amazon.com, Inc. (NASDAQ:AMZN) (NEO:AMZN) are racing to secure their position. Each has brought a unique approach to their AI strategies, including investing in and acquiring up-and-coming companies. It’s a rapidly developing space, with several new pure-play AI and Cloud firms gaining attention and making progress, such as Avant Technologies Inc. (OTC:AVAI) and MongoDB, Inc. (NASDAQ:MDB).
Businesses aiming to enhance their products with AI face significant challenges, primarily due to the high costs of computing and a looming global data storage crisis expected by 2025.
At the forefront of addressing these two key issues is Avant Technologies Inc. (OTC:AVAI), an innovative firm developing cutting-edge cloud supercomputing technology. Avant claims that their supercomputing network could become the most potent and economical private cloud infrastructure globally.
“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 Timothy Lantz, Chief Executive Officer of Avant. “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.”
They’re specifically tackling the widespread issues of cost and performance constraints that are currently impeding the progress and market viability of AI, machine learning, and big data analytics. Avant aims to revolutionize these sectors with its private cloud infrastructure, promising enhanced performance and value across various industries. This will be achieved by lowering expenses, increasing computing density, and offering unique ESG (Environmental, Social, and Governance) advantages through significantly reduced electricity and water usage.
The company is developing a computing environment specifically for AI, ensuring it supports all major AI frameworks. This approach guarantees compatibility and simplifies development processes. Avant's focus on interoperability means AI developers can continue using much of their existing technology infrastructure while still gaining from Avant's enhanced performance and cost-effectiveness. Designed to meet the intricate computing demands of AI applications, Avant's environment will facilitate rapid and efficient data movement among all components. This will lead to unparalleled system performance, availability, and scalability.
Pure-play AI firm MongoDB, Inc. (NASDAQ:MDB) is recently coming off announcing a collaboration with Amazon.com, Inc. (NASDAQ:AMZN) (NEO:AMZN) to accelerate application development and modernization on MongoDB using AI-powered coding companion Cascadeo, gravity9, and Redapt among customers and partners using Amazon CodeWhisperer with MongoDB.
"Generative AI has the potential to not only revolutionize how end-users interact with modern applications but also how developers build those applications," said Andrew Davidson, SVP of Product at MongoDB. "With built-in security scanning and the ability to provide source and licensing information when suggestions resemble publicly available open source training data, Amazon CodeWhisperer now provides developers building on MongoDB a unique experience that will get even better over time."
Amazon CodeWhisperer, an AI-driven coding assistant from AWS, has been developed using billions of lines of code from Amazon and other public sources. It offers code recommendations in developers' integrated development environments (IDEs) based on natural language comments or the existing code. In collaboration with AWS, MongoDB contributed specialized training data relevant to MongoDB scenarios and participated in assessing the outputs of Amazon CodeWhisperer during its training phase, ensuring the generation of high-quality code suggestions.
"More and more developers are realizing the potential of generative AI-powered coding companions to transform how work gets done, giving them more time to focus on solving hard problems," said Deepak Singh, VP of Next Gen Developer Experience at AWS. "Amazon CodeWhisperer already provides an optimized experience when working on common coding tasks and with AWS APIs. By collaborating with MongoDB, we are extending those capabilities to millions of MongoDB developers. We are excited to put Amazon CodeWhisperer in the hands of even more developers to help them tap into the transformative potential of generative AI."
Also collaborating with AWS is International Business Machines Corporation (IBM) (NYSE:IBM), which recently joined forces to advance Gen AI solutions in the Middle East. IBM Consulting and AWS have joined forces to offer improved solutions and services, incorporating cutting-edge generative AI technology for key applications. A prominent example of this collaboration is the Contact Centre Modernisation using Amazon Connect. In this initiative, IBM Consulting and AWS have co-developed summarization and categorization capabilities for both voice and digital interactions. These generative AI functionalities enable seamless handovers from chatbots to human agents, equipping agents with concise summaries that help in quicker resolution of issues and enhancing overall quality management.
IBM has also recently unveiled its wastonx.governance to help business and governments govern and build trust in generative AI.
"Watsonx.governance is a one-stop-shop for businesses that are struggling to deploy and manage both LLM and ML models, giving businesses the tools, they need to automate AI governance processes, monitor their models, and take corrective action, all with increased visibility," said Kareem Yusuf, Ph.D, Senior Vice President, Product Management and Growth, IBM Software. "Its ability to translate regulations into enforceable policies will only become more essential for enterprises as new AI regulation takes hold worldwide."
Moving full speed ahead, Facebook parent company Meta Platforms, Inc. (NASDAQ:META) (NEO:META) recently shuffled its Responsible AI team into other areas of the company to focus on generative AI. The move comes off of a series of layoffs at the company where thousands of employees have been let go so far in 2023.
"Our single largest investment is in advancing AI and building it into every one of our products," said Meta CEO Mark Zuckerberg in a previous statement. "We have the infrastructure to do this at unprecedented scale and I think the experiences it enables will be amazing. Our leading work building the metaverse and shaping the next generation of computing platforms also remains central to defining the future of social connection."
Meta has recently unveiled a range of generative AI offerings, encompassing machine learning services for advertising, its Llama large language models, AI-created stickers, among others. Earlier in November, Meta introduced Emu, a platform for generating animated images.
The company has also launched two innovative tools under the Emu brand. The first, Emu Edit, enables users to guide the model with text instructions. The second, Emu Video, is a text-to-video diffusion model. Meta has suggested the potential integration of these tools into its social media applications, allowing users to modify photos and videos, or to craft custom GIFs for use in messages and social media posts.
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
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