By Bea McDonald
Leading AI specialist NVIDIA has surpassed Apple to become the second most valuable company in the world. The company, which was established in 1993, originally developed graphic accelerator chips. However, its focus turned to driving the advancements in artificial intelligence in 2018.
The company now has a market cap of three trillion dollars. This figure is up by a massive one trillion dollars from only 3 months ago.
The rapid growth of AI has been seen all around the world through the ability to communicate with technology like Siri, Alexa and more. Some believe these swift advancements to be a good thing whilst others fear them.
Jenson Huang, President of NVIDIA, has only positive things to say about AI: “With our innovations in AI and accelerated computing, we’re pushing the boundaries of what’s possible and driving the next wave of technological advancement.”
Many businesses use AI to generate responses to customers. The quick and efficient responses allow for improved replies that people may otherwise have not thought of.
Furthermore, it saves time and money by automating and optimising routine processes and tasks. The use of AI in replacement of humans can also avoid mistakes.
Although many would argue there are negatives that come with AI too. The biggest concern raised by AI is the threat to peoples’ jobs. It can now be used in place of people for certain jobs. It is said to be easier to control and cheaper. This encourages owners to use AI instead of a human work force which can leave many unemployed.
An example of this is the use of AI on websites. This means customers can report any issues to it rather than someone from customer services. This limits the need for humans in that role.
It also increases risks of hacking and raises ethical concerns about bias and privacy.
With so many positives and negatives, AI has sparked mixed opinions across the world.
So, what do you think of AI and how it impacts your business? Let us know by emailing [email protected] or leaving a comment below.
