INDUSTRY NEWS

SAS is planning to invest $1 Billion in AI to Focus on R&D Innovation

Published Date | 2019 March 28

SAS initiate to invest $1 Million in AI will empower the next generation of AI possibilities; will accelerate the Cloud Innovation and Artificial Intelligence Market.
Global: Programming mammoth SAS is making speculation of $1 billion in man-made consciousness (Artificial Intelligence) in the coming three years through programming development, training, and master administrations. The investment will focus on three main areas includes R&D, education and expert services that will build on SAS' existing expertise in analytics, machine learning, deep learning, natural language processing (NLP) and computer vision. It is also intended to equip business leaders and data scientists for the future of AI, with the technology, skills and support they need to transform their organizations. The company is making an investment in R&D innovation in all primary areas of AI, with a special focus to benefit users with different skill levels, ranging from business experts to data engineers to data scientists. The company is immersing AI capabilities into the SAS Platform and solutions for data management, customer intelligence, fraud and security intelligence and risk management, as well as applications for industries including financial services, government, health care, manufacturing, and retail. According to Analyst at BlueWeave Consulting, The huge investment in AI technology will create lucrative opportunities for the development of AI with SAS R&D and unique technological approach. It will also help in the Demonstration of AI in a different section which in turn boosts digital transformation to a broader level. AI is positioned at the core of the next-gen software technologies in the market and hence, the increasing adoption rate of big data and AI advanced has benefited the global artificial intelligence market. Various end-use industries have also employed artificial intelligence such as retail and business analysis which enhances the demand in the market. Moreover, the growing progression of machine interpretation, question acknowledgment, and protest observation has further enlarged the demand for artificial intelligence. New AI implementation will Bridge the skills gap and enhance employability. Software as a service (SaaS) applications and cloud platforms will continue to drive benefits for companies of all types and sizes. The future of SaaS applications will include AI-powered automation software to streamline workflow by automating common tasks. Additionally, the wider adoption of the cloud will also require enhanced security protections and next-generation flash storage processors. In addition, this will allow the customers to more securely operate even the most sensitive applications without having to trust the cloud. The introduction of new technology enables cloud and enterprise data centers to access data up to 50x faster with 1/10th of the computational load and power consumption. Furthermore, the key factor driving the market is growing big data analysis, the increasing adoption of cloud-based applications and services, and increasing demand for intelligent virtual assistants will boost the market of AI in the coming period.  According to BlueWeave consulting’s upcoming report, Titled-“ Global Artificial Intelligence Market By Technology (Automated Robotic System, Expert System, Embedded System, Digital Assistance System, and Artificial Neural Network), By Application (Cyber Security, Context Aware Processing, Speech Recognition, Video Analysis, Gesture Control, Language Processing, Querying Method, Digital Personal Assistant, Image Recognition, Smart Robots, and Deep Learning),By End- Use (Media & Advertising, BFSI, IT & Telecom, Retail, Healthcare, Automotive & Transportation, and Others), Size and Forecast, 2018-2025,”- Artificial intelligence has been one of the fastest-growing technologies in recent years across the world thus, the market will grow at an exponential growth rate over the coming years.  AI is connected to human intelligence with similar characteristics such as language understanding, reasoning, learning, problem-solving, and others. Manufacturers in the market observe enormous underlying intellectual challenges in the development and revision of such a technology. AI is stood at the core of the next-gen software technologies in the market.