USA News Group
Commentary
Issued on behalf of Avant Technologies
Inc.
VANCOUVER, BC, June 28,
2024 /PRNewswire/ -- USA News Group – The world is
changing rapidly thanks to artificial intelligence (AI), with
what's being called the Transformative AI era
which comes with great benefits and also potential dangers.
The economic impacts are global, with a new
report from The Bank for International Settlements
(BIS) urging central banks to adapt rapidly to AI advances. Now
it's become apparent how important it is for companies to
understand how to harness the full potential of
GenAI to secure strategic revenue growth in the coming
years. The surge of AI's usefulness is accelerating
innovation in R&D, while behind the scenes tech
companies are advancing the infrastructure required to keep this
revolution going, including new developments from Avant
Technologies Inc. (OTCQB: AVAI), Accenture plc (NYSE:
ACN), Cloudflare, Inc. (NYSE: NET), Alphabet Inc.
(NASDAQ: GOOG, GOOGL), and Amazon.com, Inc. (NASDAQ:
AMZN).
Known for pioneering advancements in AI, Avant
Technologies Inc. (OTCQB: AVAI) has persistently refined and
expanded its premier offering, Avant AI™. This sophisticated AI
platform, celebrated for its machine learning and deep learning
capabilities, is the culmination of Avant's efforts to
deliver unprecedented and cost-effective compute infrastructure
that unlocks the full potential of AI and ushers in a new era of
technological advancement.
"There is a real unmet need as rapid growth across the
entirety of the AI and big data industries is outpacing the
necessary infrastructure for an industry that demands exponential
power and capacity while remaining cost effective," said
Avant's CEO William Hisey in
a recent address of progress on AI
supercomputer-driven data centers. "Avant's 'edge-native'
approach doesn't rely on cloud-based services so we can offer AI
and big data companies many advantages over the more familiar
'cloud-native' approach, including, reduced latency, improved
security and privacy, increased scalability, and reduced
costs."
In a recent strategic development, Avant entered
into a Binding Letter of Intent (BLOI)
with Flow Wave, LLC (FW), a prominent Florida-based firm specializing in immersible
computer server technology. This agreement allows Avant to
acquire up to 50 cutting-edge immersible computer servers from
FW, in a transaction valued at $50
million.
"By integrating proprietary machine learning algorithms
with open-source innovations into these servers, Avant is
developing a highly intelligent system designed to optimize
resource allocation, enhance performance, and drive unprecedented
levels of efficiency and automation," said Hisey. "This marks
the beginning of a new era for Avant Technologies,
positioning us at the forefront of the supercomputer-driven data
center industry and setting new standards for managing and storing
AI applications."
Flow Wave Immersible AI Supercomputer
Servers are engineered for demanding AI and machine learning
applications, delivering powerful processing capabilities that
accelerate data analysis. Their cutting-edge cooling system is both
energy-efficient and cost-effective, reducing environmental impact.
These servers' compact design facilitates easy installation in
space-constrained data centers, and their robust construction
ensures longevity and lower maintenance requirements.
In response to digital era challenges, Avant
intends to acquire up to 50 of these high-performance servers.
Their superior cooling technology boosts performance while
conserving energy, aligning with Avant's goal of providing
top-tier AI infrastructure and maximizing efficiency. Additional
details about the acquisition will be shared once the final
agreement is secured.
In Q3 2024, Accenture plc
(NYSE: ACN) brought in over $900 million in new Generative AI
bookings, for a total of $2 billion
fiscal year-to-date. Despite missing its overall earnings targets,
the market responded by sending its shares
upward.
"We achieved strong new bookings of over $21 billion, up 22% over last year, and continued
to accelerate our strategy to be the reinvention partner of choice,
with another 23 clients with quarterly bookings of over
$100 million, bringing the total of
such bookings to 92 year-to-date," said Julie Sweet, Chair and CEO of Accenture.
"We also achieved two significant milestones this quarter -- with
$2 billion in Generative AI sales
year-to-date and $500 million in
revenue year-to-date -- which demonstrate our early lead in this
critical technology."
Back in May, Accenture took steps to help its
clients to scale their Generative AI
responsibly.
"Clients are eager to embrace the potential of generative
AI, and we are ready to help them build responsible AI into every
use," said Sweet. "We do this for ourselves, and we can use that
example to help our clients find success faster. Our focus is to
enable our clients to innovate AI safely and be ready to seize the
opportunities that AI will bring in the decades ahead."
Recently, the cloud-based security solution provider
Cloudflare, Inc. (NYSE: NET) unveiled the
general availability of its AI Gateway platform.
Marketed as a comprehensive interface for managing and scaling
generative AI workloads, the platform has transitioned from its
beta phase, which started in September
2023, to full client use after successfully handling over
500 million requests.
This launch coincides with Cloudflare's
announcement of a partnership with Hugging
Face, a leading platform for AI developers. The collaboration
offers a one-click global deployment for AI applications via the
Workers AI platform, now also generally available. As the first
serverless inference partner integrated on the Hugging Face Hub,
this allows developers to deploy AI models quickly, easily, and
cost-effectively on a global scale, without the need for managing
infrastructure or paying for unused compute capacity.
"Workers AI is one of the most affordable and accessible
solutions to run inference," said Matthew
Prince, CEO and co-founder, Cloudflare. "With
Hugging Face and Cloudflare both deeply aligned in
our efforts to democratize AI in a simple, affordable way, we're
giving developers the freedom and agility to choose a model and
scale their AI apps from zero to global in an instant."
In the education space, Alphabet Inc. (NASDAQ:
GOOG, GOOGL) through Google, is bringing new AI tools to
Google Workspace for teen students using their school accounts to
help them learn responsibly and confidently in an AI-first future,
and empowering educators with new tools to help create great
learning experiences.
"In the coming months, we're making Gemini available to
teen students that meet our minimum age requirements while using
their Google Workspace for Education accounts in English in over
100 countries around the world, free of charge for all education
institutions," said Google in a blog
post. "To ensure schools are always in control, Gemini
will be off by default for teens until admins choose to turn it on
as an Additional Service in the Admin console."
Google has also developed a number of
resources and trainings to help students, parents and educators use
generative AI tools responsibly and effectively, including a video
on how teens can responsibly use AI while learning.
After recently hitting a $2-trillion valuation,
Amazon.com, Inc. (NASDAQ: AMZN) continues to be a big player
in the AI space. Now it's reportedly working
on its own AI chatbot that some say might be smarter than
ChatGPT, named Metis, which will generate answers by grabbing info
from the internet.
Metis is driven by an internal Amazon AI model known as
Olympus, drawing inspiration from Greek mythology.
According to sources, Olympus is a more advanced
version of Amazon's publicly available Titan model.
Amazon's CEO Andy Jassy has noted that nearly every division
within the company is engaged in some form of AI project. As a
pioneer in cloud computing, Amazon has been developing
machine learning, a subset of AI, for many years. Jassy
recently announced that Amazon's AI initiatives
are projected to generate over $1
billion in annual revenue, with expectations of driving
"tens of billions of dollars" in sales in the coming
years.
However, Amazon has lagged in the realm of consumer
AI assistants. An internal document from
last year highlighted that Amazon "does not have a publicly
or internally available product that looks and works exactly like
ChatGPT."
According to a source reported by Business Insider,
the tentative launch date for Metis is September, right around the
time when Amazon is set to host a big Alexa event, although
the timeline could still change.
Source:
https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
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