As acknowledged by the major multinational companies, AI will be significant in shaping our socio-economic future. From designing smart weapons to predicting health risks, AI will be changing the way in which the world does business. Engineers have already started preparing for the upcoming surge in AI requirements. With major investments from different industries, the scope for research has also significantly increased. The following articles track the latest developments in the AI field and showcase how it’s impacting business globally. Keep reading.
Nvidia CEO calls AI ‘the single most powerful force’ as Earnings Beat Expectations
Nvidia’s artificial intelligence wing is growing rapidly and bringing the company massive revenues and product demands are often exceeding expectations. Even though gaming remains the primary focus for Nvidia, an increased demand for graphics and AI chips has compelled the company to focus on developing AI applications as well. Nvidia is emerging as one of the major companies in AI, especially in driverless cars and has been investing heavily in building AI chips. The Xavier chip is the result of 4 years of tireless dedication of over 2000 engineers and is one of the best chips available in the market today. The company will continue to drive innovation and establish itself as a major player in the AI sector.
New consortium aims to make Bengaluru hub for industrial AI
A consortium was recently formed by Derick Jose, co-founder of Flutura and a few others with the objective of making Bengaluru one of the top international hubs for artificial intelligence startups. Following China, India has started to scale up its tech entrepreneur presence in the international market by leveraging its unique position in the startup scene. The consortium has already managed to gather early stage fundings so that promising ideas can be put into action at the earliest. “It’s wonderful to see they’re not just building something cool but doing much more to build the ecosystem in India,” said one of the consortium members. Owing to its rich pool of deep tech and engineering talent, Bengaluru is expected to power autonomous operations in industries.
BMW’s Increasing Investment in AI 
Identifying the enormous possibilities of artificial intelligence, multinational companies from across various industries have started investing in AI research to find new AI capabilities – BMW is one of them. BMW funds companies that are directly or indirectly pushing advancements in the automotive ecosystem. This also includes investing in startups which specialise in designing AI functionalities for automatic cars and other related technologies for an enhanced transportation system. For any machine learning system to learn and produce accurate outputs, it must be provided with sufficient amounts of clean data. AI specialists spend a lot of their time collecting, cleaning and labeling data to ensure it is fit to be fed to the systems. 
Artificial intelligence can contribute to a safer world
Security measures for protecting public venues will undergo upgradation with AI. Artificial intelligence will be used to eradicate all possible system errors, identify potential threats and plan counteractions. With the new systems, security applications will be able to detect guns, knives, bombs, and much more security hazards. Furthermore, AI will be able to even distinguish between threatening and non-threatening objects. These smart security systems will check through crowds and queues meticulously without slowing down the traffic flow. 
Center for Data Innovation: U.S. leads AI race, with China closing fast and EU lagging
The USA is leading the front for AI development with China following closely and EU falling behind. China’s determination to lead the market by 2030 is another factor that is driving US policy makers to invest in AI. Since the winners of an AI arms race will rule the global economy, there’s a lot of pressure on US to up its AI game. Even though all three players have equal potential in terms of resources and talent, EU seems to be not focusing on AI as much as the US and China at the moment. 
For more roundups on AI, watch this space!

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