What You Need to Know About Artificial Intelligence
When I think back to my oldest memory of artificial intelligence, all I can think about is the 2001 movie A.I. Artificial Intelligence.
It’s both entertaining and hysterical to look back on that movie and think that's how I thought the future would look... and what I believed artificial intelligence would consist of.
Fifteen years later, I think it’s safe to say that we've come a long way from that 2001 vision of the “future.” We can actually encounter and interact with intelligent machines daily. There is also a more defined path of where artificial intelligence is headed and how we really want to benefit from these intelligent machines.
The one thing that hasn’t changed is our desire to have machines perform tasks that we normally wouldn’t want to do.
The first thing that comes to my mind is having the luxury of a self-driving car to take me to and from work every day — that’s a stress factor I’d love to eliminate.
We want machines to make our lives easier so we can enjoy life more. Tech companies know this, and that's why they're continually working to improve and create technology such as augmented and virtual reality devices, drones, driverless cars, and robots.
Staying Active in a Growing Market
With new technology constantly emerging in the tech market, a company can’t afford to be stagnant, or it'll miss out on once-in-a-lifetime opportunities.
A company that’s been actively growing and opening up new possibilities for itself is Intel Corporation (NASDAQ: INTC). You probably associate the company with desktop computers and semiconductor chips, which would be accurate, but also just a fraction of what it’s been up to lately.
In the past few years, the desire for desktop computers has dropped significantly, and Intel realized this right away. So it began making the conscious effort to shift its business towards new sectors that would keep it relevant and alive in the market while also maintaining its spot as a leading semiconductor maker.
Right now, Intel operates through a variety of segments such as its Client Computing Group, Data Center Group, Internet of Things Group, and Software and Services, focusing in particular on emerging markets such as the Internet of Things (IoT) and artificial intelligence.
PRNewswire reported that the artificial intelligence market will grow from USD $419.7 million in 2014 to USD $5.05 billion by 2020, at a CAGR of 53.65% from 2015 to 2020.
Intel Acquires AI Startup Movidius
In pursuit of further holding a place in the emerging markets of IoT and AI, Intel announced that it would be acquiring an AI startup called Movidius. This move will help it penetrate the growing artificial intelligence sector.
Movidius is a chipmaker that’s focused on chips designed to aid computer vision applications. The company was founded in 2006, and it was named number 30 on MIT Technology Review's "50 Smartest Companies 2016" list.
Bloomberg reports that more than $300 million in venture capital was invested in AI startups in 2014 — a 300% increase over the year before.
Intel's CEO Josh Walden had this to say about his company's new acquisition:
With Movidius, Intel gains low-power, high-performance SoC platforms for accelerating computer vision applications. Additionally, this acquisition brings algorithms tuned for deep learning, depth processing, navigation and mapping, and natural interactions, as well as broad expertise in embedded computer vision and machine intelligence.
These algorithms for deep learning, navigation, natural interactions, and depth processing will be the perfect addition to the company's already growing technology — in particular with its RealSense depth-sensing cameras.
It plans to use its RealSense cameras with augmented, virtual, and merged reality systems, while also using the cameras in drones, robotics, and even in driverless vehicles. The RealSense camera provides a level of visual intelligence that’s needed to fully perfect and execute these intelligent systems and devices.
When Intel announced it would be acquiring Movidius, its share price saw an increase of more than 1% that day. Not to mention it’s been exceeding earnings for the first and second quarter of the fiscal year 2016. They were up by 3.3% from the previous year in the second quarter — bringing in $13.5 billion in revenue.
Intel is determined to be early to these emerging sectors of AI and IoT, and even more determined to be the leader. With several other acquisitions in these areas, including the purchase of AI startup Nervana Systems last month, Intel is giving itself a huge opportunity to grow in the market.
Until next time,
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