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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