- AI currently allows computers to manage basic tasks so people have time for other things.
- As AI technology advances, it will take over more complex tasks, improving safety and efficiency.
- Many companies are entering this space, but IBM, Micron and CrowdStrike are a few of the leaders in this industry.
When you think of artificial intelligence, you might imagine a world where robots and computers run the show. But looking at how AI is used in today’s world, from voice-activated assistants to virtual assistants answering phones, you will recognize how this technology is improving our lives. Here is a deeper dive into artificial intelligence and the companies leading the way right now.
What is artificial intelligence?
Artificial intelligence is the concept of teaching a computer to think and act independently. That includes rational speech, complex problem-solving, speech recognition, decision making, and initiating actions. The goal of artificial intelligence, also known as AI, is to get a computer to think independently and make better decisions than a human does.
The current state of AI is known as narrow artificial intelligence because AI systems are relegated to performing one task or a set of related tasks. For example, virtual assistants like Alexa or Siri can turn on music or answer questions. Robotic vacuums learn the best route for cleaning your floor, and self-driving cars can get you from point A to point B.
Companies are currently in the process of creating AI with broader abilities. But most of the efforts surrounding the development of AI are focused on what it can do now, not what it can do in the future. But the universe of AI capabilities only stands to expand.
What benefits does AI offer?
Artificial intelligence is a technology that promises to make daily life a lot easier, eliminate the need for someone to do repetitive, low-level tasks, and improve safety. AI has sped up the production of everything from automobiles to healthcare and finance. AI operations require less oversight and frees people up to do work that AI can’t handle.
It’s long been known that computers save money across the board in all industries. Processes that were once handled by many hands have been distilled into programs that take these tasks and complete them in milliseconds. AI reacts much more quickly than the human eye-to-hand connection, making it highly useful for safety applications.
The ultimate goal of AI is to take over tasks and speed up processes. Essentially, it’s a time and money saver that can be trusted to do as it’s been told. Many companies and industries are engaging in AI research to figure out how to get it to do increasingly more complex tasks and rely less on people to get the work done. Of course we’ve written about Tesla extensively in this space, who are certainly technological leaders, though it would be tough to gauge their financial future given the leadership concerns we see in the market at present. Here’s a look at some more of the publicly-traded companies that are working toward this goal and emerging as leaders in AI.
Mobileye Global is an independent technology company that’s been working on the development of autonomous driving since 1999. The company was purchased by Intel in 2017 but the company spun off in October 2022. Its Mobileye SuperVision product is currently in more than 60,000 consumer vehicles. It aids drivers in avoiding potentially dangerous collisions while requiring the driver to be actively engaged in the vehicle’s operation.
The company has multiple assistive and monitoring technologies currently on the market at the consumer and enterprise levels. While the company is growing quickly and has the majority of revenue coming from 8 car manufacturers, it does have a host of competition.
Tesla is its most prominent competitor, with many years of research and development under its belt. Additionally, Apple and Sony are entering this space. Globally, other companies, including Baidu, Cruise, Waymo and others, are involved in autonomous driving.
IBM has been working on the concept of AI for decades and has an AI “character” known as Watson that appeared on the game show Jeopardy, and won. Currently, IBM Watson is part of IBM’s cloud computing services to help organizations get ahead of their needs and make it easier to collect data. The company is engaged in the research and development of foundational models for the use of AI in areas that include automotive, robotics, simulation, and customer service.
When it reported third-quarter results, revenue increased 6% to $14.4 billion year-over-year. While the slowdown in the economy could hurt revenue going forward, IBM is financially strong enough to handle the downturn while continuing to expand its AI offerings.
In spite of recent layoffs, Micron designs, builds, and sells memory and multi-chip processors that power AI applications at speeds and capacities that aren’t readily available from most commercial manufacturers. The company also manufactures high-performance computing modules, backplanes, data center systems, and high-performance desktop computers that deliver the computing power needed for AI and machine learning while consuming low amounts of energy relative to their output.
Other chip manufacturers are involved in AI or beginning to get involved, including NVIDIA, Advanced Micro Devices and Qualcomm. This industry will be one to watch over the years to see who emerges as the leader in supplying chips to companies for AI processes.
C3.AI develops AI software for customers and industries that range from the U.S. Department of Defense to Fortune 500 companies. The company provides SAAS frameworks that are customized to the client’s needs. Its software can help detect fraud, anticipate supply chain demand, monitor network health, and adjust as needed. C3.AI’s software monitors and responds to demands, collects and delivers data with deeper insight than similar products, and can track progress on a product supplied by a vendor.
The AI software from C3.AI is designed to recognize activity patterns, whether an adverse event or product delivery happened, and inform the user of what has been detected. It can then take the appropriate action and inform responsible parties in real time. The AI can warn of events before they become detectable and help avoid problems before they start.
Palantir uses AI to help businesses spot inefficiencies and identify any issues within a supply chain that could cause disruption. The company was recognized by International Data Corporation (IDC) as the global leader in AI software in 2021 in both market share and revenue.
In addition to helping the private sector, Palantir works with the government. Recently they helped find people to evacuate from Afghanistan in 2021 when the U.S. pulled out its troops. By working with both private and public sectors, Palantir has a solid customer base that it can grow from.
CrowdStrike is a cyber security company that uses AI to protect the networks of its customers. Its endpoint and cloud protection software analyzes trillions of data points every week. That information is fed out to its customers’ networks to help protect them from cybercriminals.
What sets CrowdStrike apart from other cyber security companies is they use a cloud-based platform to offer their services to customers. Many other security companies require their customers to purchase expensive local hardware to run security. By bypassing this route, CrowdStrike saves companies money on the front end. Additionally, by offering its services through the cloud, customers can sign up for a subscription.
The bottom line
Artificial intelligence is still in its infancy today, on its way to becoming a teenager before our very eyes. While these companies are at the forefront of current technology, many more will pop up in the form of startups and business units inside of the enterprise players we already know.
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Original post: https://www.forbes.com/sites/qai/2022/12/22/want-to-invest-in-artificial-intelligence-here-are-6-front-runners-in-machine-learning