Artificial Intelligence
The Global Digital Railway Market size is expected to reach $103.7 billion by 2028, rising at a market growth of 9.2% CAGR during the forecast period
New York, Sept. 29, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Digital Railway Market Size, Share & Industry Trends Analysis Report By Offering, By Application, By Regional Outlook and Forecast, 2022 – 2028” – https://www.reportlinker.com/p06321950/?utm_source=GNW
The railway will have the additional capacity as a result, and performance, safety, and sustainability will all increase.
The Secretary of State for Transportation and the CEO of Network Rail jointly launched the Digital Railway Strategy in 2018, which outlined the delivery strategy for digital installation across the network and identified and prioritized the projects with the strongest business cases. Train-fitting and infrastructure upgrades are coordinated by a long-term Digital Railway deployment plan.
This would make it possible to transition to fully digital operation in the future with the least amount of expense, time, effort, and disruption to the railway’s operations. The proposal considers the scope and difficulty of modifying more than 19,000 miles of rail and fitting out more than 4,000 trains for one of the largest and most intensively run rail networks in the world.
A railway of this scale and complexity cannot be swiftly constructed. To manage the switch to digital technology and preserve the continuity of services for passengers and cargo operators, a project this size will require a regular schedule of asset replacement. In the past, business models used by railroad organizations were primarily focused on engineering and operations.
COVID-19 Impact Analysis
The government’s ambition to digitally transform every industry drove market expansion. The businesses had enough time to introduce new technology slowly. IoT devices and modern technology were more widely accepted during the pandemic situation, which encouraged businesses to adopt modern technologies to meet customer demands and to simplify challenging processes, including ticket booking, freight management, and others, that aided in the market’s expansion. The COVID-19 health crisis has a significant influence on all activities, and the containment measures that have been implemented as a result have had long-term negative financial and economic effects.
Market Growth Factors
The Number Of Rail Passengers Has Increased In Recent Years
The number of passengers using trains has dramatically increased during the past few years in many different nations. Railway operators require a variety of digital railway solutions, such as traffic management tools, passenger information systems, and passenger analytics, to effectively manage the passenger traffic and deliver high-quality transportation services to an increasing number of passengers. These solutions improve client travel experiences while boosting the effectiveness of railroad operations.
Demand For Cutting-Edge Transportation Infrastructure Is Increasing
All forms of railroad traffic are directly impacted by the effects of globalization. An increase in speed, security, and dependability is in demand. Therefore, regardless of the distance traveled or the anticipated number of steps needed to reach the destination, the next railway transportation ecosystem must provide solutions to satisfy the demand from source to destination with a high quality of service. People’s needs are evolving continuously, necessitating the development of more accessible travel options.
Market Restraining Factors
The Absence Of Robust Rail Infrastructure In Developing Nations
Some developing nations still don’t have the resources to upgrade their train systems. Investment in rail infrastructure becomes more important than the digitization of the infrastructure for nations lacking robust train networks. Implementing cutting-edge digital technology requires a robust train infrastructure as well as a robust communication system. Only when used at a particular degree of scale are some digital technologies, like traffic management or passenger analytics, effective.
Offering Outlook
By offering, the Digital Railway Market is bifurcated into Solution and Services. The solution segment acquired the highest revenue share in the digital railway market in 2021. To maintain a good service level across their network, transportation companies are under pressure to strengthen and invest in their current infrastructure and resources as the number of rail trips increases year over year.
Application Outlook
By Application, the Digital Railway Market is classified into Rail operations management, Passenger Information systems, Asset Management, and Other Applications. The passenger information system segment witnessed a substantial revenue share in the digital railway market in 2021. An important channel of communication between transportation companies and passengers is provided by passenger information systems. The ability of operators to offer accurate and up-to-date knowledge on arrival and departure times is a crucial element of passenger pleasure, along with system dependability, safety, and general appearance.
Regional Outlook
Region-wise, the Digital Railway Market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region procured a promising revenue share in the digital railway market in 2021. Due to the increased adoption of new technologies, more expenditures in digital transformation, and the development in GDP in the Asia Pacific countries, Asia Pacific is predicted to have the quickest rate of growth for the digital railway industry.
The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; Cisco Systems, Inc. and Huawei Technologies Co., Ltd. are the forerunners in the Digital Railway Market. Companies such as IBM Corporation, ABB Group and Huawei Technologies Co., Ltd. are some of the key innovators in Digital Railway Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, ABB Group, Fujitsu Limited, IBM Corporation, Cisco Systems, Inc., ALSTOM Holdings, Huawei Technologies Co. Ltd., Thales Group S.A., Hitachi, Ltd., and Wabtec Corporation.
Recent Strategies deployed in Digital Railway Market
Partnerships, Collaborations and Agreements:
Aug-2022: ABB came into a partnership with Red Hat, an American software business. With this partnership, companies aimed to permit enterprises utilizing ABB’s process automation and industrial software to scale flexibly and rapidly utilize Red Hat’s dominating enterprise platforms and application services developed on Red Hat Enterprise Linux. Moreover, The partnership allows containerization and virtualization of automation software with Red Hat OpenShift to deliver developed flexibility in hardware deployment, optimized as per application requirements.
May-2022: Wabtec Corporation joined hands with Deutsche Bahn, the second-largest transportation business in the world. Through this collaboration, the companies aimed to optimize the maintenance and operation of Wabtec equipment on council Deutsche Bahn trains. Additionally, the companies would collaborate as a joint Steering Committee for various projects to improve the availability, reliability, and life cycle of Wabtec tools established on Deutsche Bahn trains.
Apr-2022: Thales signed a Memorandum of Understanding with SMRT Trains, a rail operator in Singapore. With this agreement, the companies would transfer engineering knowledge and rail expertise in diverse sectors and utilize digital technologies such as Artificial Intelligence and data analytics to release the full capabilities of the diagnostic data readily general within the current signalling and rail systems.
Jan-2022: Hitachi Rail formed a partnership with Intermodal Telematics, a leader in the development of monitoring sensors and telematic solutions. Through this partnership, the companies aimed to adjoin IMT’s pioneering monitoring sensors to Hitachi’s living digital freight service. Additionally, The agreement would permit Hitachi to deliver rail freight companies across the world a solution that delivers real-time monitoring to enhance safety and effectiveness.
Sep-2021: Alstom came into a partnership with Airbus CyberSecurity, a European specialist in cyber security. Through this partnership, the companies aimed to deliver rail operators with services and solutions integrating Alstom’s solutions and expertise in rail transport within Airbus CyberSecurity’s expertise and services in providing the security of industrial information systems.
Sep-2020: Siemens AG signed an agreement with Atos, an international leader in digital transformation. This agreement aimed to boost Siemens’ digital objectives in the field of services digitalization and modernization, cloud transformation, data-driven digital, and cybersecurity. Additionally, Atos would also support innovation and digital modernization, to reach crucial innovation issues for Siemens.
Jan-2020: Thales formed a partnership with Confidex, a supreme designer and supplier of short-range wireless identification solutions. Together, the companies aimed to introduce a Flexible Clap Card for MassTransit Market. Additionally, Thales and Confidex are delivering a reloadable product to support lower cost and trash linked with the more than 550 million magnetic tickets published each year.
Product Launch and Product Expansions:
Jun-2022: Wabtec introduced Precision Dispatch System. The new Wabtec Precision Dispatch System is developed to move trains safely and effectively around the rail network in both signalled and dark territory, as well as deliver complete transparency of network requirements and monitor all devices in the network. Additionally, Precision Dispatch analyzes data collected from all rolling stock and Positive Train Control and wayside device assets.
May-2022: Hitachi Rail launched PTC onboard system and digital railcar telematics. The new Positive Train Control is an onboard system is an Interoperable Train Control solution for cargo railroads and commuter rail operators.
May-2022: Thales introduced the launch of its prevailing Train Protection and Warning System (TPWS) Mk4 Single Cab Control Unit. The new TPWS Mk4 is comfortable to fit and run with current systems in both dual and single cabs, with no requirement to change anything under the vehicle, TPWS Mk4 is a concise, cost-effective advancement that demands minimal staff training, whilst providing interoperability with European Train Control System.
Feb-2022: Thales introduced Robust Train Positioning System, a system that delivers precise train positioning data and a digital map. The new Robust Train Positioning System focused on increasing safety by utilizing a mixture of sensors that gather crucial data on train positioning, which is integrated with a digital map of the track, supplying precise and constant positioning results for train drivers and other attendants.
Dec-2021: Siemens along with VGF unveiled Digital Train Control System. The new train control system is intended to substitute the traditional train control system used in metro and tram networks. Additionally, This system is designed to improve the efficiency and ability of train routes, particularly in the underground passages.
Oct-2021: Siemens Mobility came into a partnership with Deutsche Bahn, the second-largest transport company in the world. Through this partnership, the companies aimed to design the world’s first automated train, which is completely controlled and automated by digital technology and requires no human interference.
Mar-2021: Siemens Mobility introduced MoComp, a compact and single source display, and make known to all consumers the diverse Siemens Mobility offering of rail vehicle components. The new MoComp would deliver an entire range of mechanical and electrical components and system solutions for modern rail vehicles. Moreover, it contains propulsion systems, pantographs, brakes, bogies, and onboard power supplies.
Mar-2021: Thales unveiled SelTracTM G8, the 8th generation, Communications Based Train Control system. The new SelTrac G8 system possesses evolution and flexibility abilities, depending on the latest technologies to extremely decrease building and lifecycle price, while preserving passenger safety. Additionally, unique elements contain a new digital architecture, with improved services and sovereignty abilities.
Acquisitions and Mergers:
Jun-2022: Wabtec Corporation completed the acquisition of Collins Aerospace’s ARINC rail solutions, a supplier of intelligence-based rail dispatch and back office solutions. Through this acquisition, ARINC’s rail solutions systems, associated with Wabtec’s digital and electronics offering, would boost the industry’s travel of rail optimization.
Apr-2022: Wabtec Corporation completed the acquisition of Trimble’s Beena Vision business, a producer of machine vision-based wayside inspection systems. This acquisition would expand Wabtec’s unparalleled digital and electronics offering, improving its capability to advance wayside train condition monitoring, along with supply chain and logistics technology for railroad consumers across the world.
Jan-2022: Wabtec Corporation took over Masu, the railway friction industry. This acquisition would reinforce its established base, as well as develop its brake product offering. Additionally, Wabtec would also be capable to toughen its position as a foremost rail manufacturer in India
Oct-2021: Siemens Mobility completed the acquisition of qills, a creative full-service developer of software solutions. Through this acquisition, Siemens would deliver operators with a complete SaaS offering that optimizes their essential travel processes, such as reservation, trip searching, ticketing management, and inventory.
Aug-2021: Hitachi Rail completed the acquisition of Thales’ Ground Transportation Systems business, a French multinational company. With this acquisition, Hitachi Rail desires to propel growth by extending the scale of its rail signaling systems industry globally, obtaining an improved turnkey railway portfolio to new markets across the world. Furthermore, The integrated strength of Hitachi and GTS’s Digital expertise would also help Hitachi Rail to boost its Mobility as a Service offering for an international consumer base.
May-2021: Siemens Mobility took over RailTerm, a Canada-based provider of rail assistance to railroads and transit agencies. With this partnership, Siemens aimed to promote the deployment of the next era of rail technologies throughout Canada’s railway networks. Moreover, this acquisition would result in the development of Siemens Mobility’s current Canadian offering.
Apr-2021: Hitachi Rail acquired Perpetuum, a UK-based rail technology firm. Through this acquisition, the technology firm would now work on optimizing, improving, and developing the application of the technology in Hitachi’s international transportation offering. Additionally, by noticing onboard vibrations, Perpetuum’s self-powering sensors deliver real-time information about the performance of vital train components, allowing timely substitutes.
Mar-2021: Wabtec Corporation completed the acquisition of Nordco, an American manufacturer of railroad maintenance. With this acquisition, Wabtec would raise its established base and propel the growth across Nordco’s innovative product offering both internationally and domestically.
Jul-2020: Cisco completed the acquisition of Fluidmesh Networks, a leader in wireless backhaul systems. Through this acquisition, the companies aimed to integrate Cisco’s scale within Fluidmesh’s solution-based portfolio and relationships with systems integrators, which would boost Cisco’s industrial IoT enterprise to help successful industrial wireless deployments, and widen its reach to key consumer partners, segments, and end users.
Scope of the Study
Market Segments covered in the Report:
By Offering
• Solutions
o Remote Monitoring
o Network Management
o Route Optimization And Scheduling
o Predictive Maintenance
o Analytics
o Security
o Others
• Services
o Professional Services
o Managed Services
By Application
• Rail Operations Management
• Asset Management
• Passenger Information System
• Other
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Siemens AG
• ABB Group
• Fujitsu Limited
• IBM Corporation
• Cisco Systems, Inc.
• ALSTOM Holdings
• Huawei Technologies Co. Ltd.
• Thales Group S.A.
• Hitachi, Ltd.
• Wabtec Corporation
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
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• Assured post sales research support with 10% customization free
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Artificial Intelligence
Automation Anywhere Appoints Tim McDonough as Chief Marketing Officer to Drive Global Awareness and Growth for the Leader in AI-Powered Automation
SAN JOSE, Calif., April 23, 2024 /PRNewswire/ — Automation Anywhere, a leader in AI-powered automation solutions, announced that AI marketing leader Tim McDonough joined the company as chief marketing officer (CMO). McDonough, who brings more than two decades of experience in driving growth across startups and Fortune 100 companies, will shape and lead Automation Anywhere’s global brand and growth strategies and go-to-market functions.
McDonough joins Automation Anywhere from Intel, where he recently served as vice president and CMO of AI and data centers. McDonough oversaw the transformation of the $14 billion-plus business unit, while guiding the company’s strategy and positioning in the AI market.
“Tim joins us at an incredible time in our journey as we experience a new phase of growth ignited by the transformative benefits of our generative AI process automation models that are transforming our customers’ businesses,” said Mihir Shukla, CEO, Automation Anywhere. “Tim’s impressive experience will be instrumental in our efforts to empower organizations to achieve amazing results by automating more than forty percent of workflows and tasks, and saving millions, even billions, of dollars.”
Prior to Intel, McDonough held executive roles at leading technology companies, including Unity Technologies, Qualcomm, and Microsoft. McDonough’s track record of enterprise and C-suite marketing spans developed and emerging technologies, including AI tools, applications, software-as-a-service (SaaS) solutions, and developer ecosystems.
“I’m looking forward to helping lead Automation Anywhere through its next phase growth as it helps companies transform their business,” said McDonough. “Seeing how customers are innovating with Automation Anywhere’s platform demonstrated to me the incredible market opportunity we have. When you combine automation with generative AI, customers can now go beyond task or departmental impact and automate at an enterprise level, empowering companies and employees to do their very best work.”
McDonough’s appointment comes at a time of remarkable opportunity for the company, marked by Automation Anywhere’s recent record-breaking fourth-quarter performance, continued profitability, and strong outlook in its current fiscal year. Last quarter, Automation Anywhere reported 50 percent growth in large enterprise deals from the previous quarter, highlighting the company’s momentum and strong market position.
About Automation Anywhere
Automation Anywhere is the leader in AI-powered process automation that puts AI to work across organizations. The company’s Automation Success Platform is powered with generative AI and offers process discovery, RPA, end-to-end process orchestration, document processing, and analytics, with a security and governance-first approach. Automation Anywhere empowers organizations worldwide to unleash productivity gains, drive innovation, improve customer service, and accelerate business growth. The company is guided by its vision to fuel the future of work by unleashing human potential through AI automation. Learn more at http://www.automationanywhere.com/.
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Artificial Intelligence
AI Supercomputing Market Growing at +21% CAGR as Industries Evolve Data Analysis
USA News Group News Commentary
VANCOUVER, BC, April 23, 2024 /PRNewswire/ — USA News Group News Commentary – Numerous industries are making the shift towards using Artificial Intelligence (AI) supercomputers in leveraging powerful computing systems to address complex challenges, and analyze massive datasets. According to analysts at Markets and Markets the AI supercomputer market is projected to grow at a CAGR of 22% through 2028 to a value of US$3.3 billion. This high level of growth is echoed by analysts at Technavio, who are projecting nearly 21% growth through 2027, however, they are seeing the overall supercomputer market much higher, growing by US$17.6 billion along the way. Several international groups are with massive investments in the billions to evolve their operations to include AI supercomputing, including in Denmark, the UK, Japan, the UAE and the USA. Powering this shift behind the scenes are several tech developers, who this week have been updating the market with their current developments, including: Avant Technologies Inc. (OTC: AVAI), NVIDIA Corporation (NASDAQ: NVDA) (NEO: NVDA), Microsoft Corporation (NASDAQ: MSFT) (NEO: MSFT), D-Wave Quantum Inc. (NYSE: QBTS), and Rigetti Computing, Inc. (NASDAQ: RGTI, RGITW).
The article continued: Moving forward, new regulations and safeguards are being put into place, as seen in the USA when the Biden Administration enacted an AI Executive Order to create new standards for AI safety and security. As well, the Council of the European Union filed a proposal for the regulation of harmonized rules on AI in the EU.
Avant Technologies Launches Advanced AI Supercomputing Network and Expansive Data Solutions
Avant Technologies, Inc. (OTCQB: AVAI) (“Avant” or the “Company”), an artificial intelligence technology (AI) company specializing in the development of advanced AI and data center infrastructure solutions, announced today that it’s introducing a state-of-the-art supercomputing network and comprehensive licensable dataset. Avant will be collaborating with its technology partner, Wired4Tech, to launch these pivotal developments, which are engineered to accelerate AI adoption and innovation across a broad spectrum of industries.
“Avant’s supercomputing network and our expansive licensable dataset will facilitate significant advancements in AI- driven solutions,” said Danny Rittman, Chief Information Officer of Avant of the launch. “By providing robust computational resources and a rich dataset, Avant is set to eliminate many of the technical and financial barriers that have traditionally hampered AI development. This initiative aims to empower developers with the tools necessary to create more sophisticated and efficient AI models, driving progress and innovation in innumerable fields.”
Highlights of Avant’s Offerings:
Versatile AI Dataset: Available from Q3, this dataset will be regularly updated to support a wide array of AI projects, providing a solid foundation for development, and reducing the time to market for AI solutions.Dynamic Resource Scaling: The network dynamically adjusts computing resources to meet real-time demands, maximizing efficiency and minimizing costs.Accelerated AI Processing: Utilizes cutting-edge distributed computing to dramatically reduce data processing times, enabling rapid iteration and deployment of AI models.Robust Security Measures: Top-tier security protocols are in place to ensure data integrity and compliance with stringent regulatory standards.Seamless Integration: Designed to integrate smoothly with existing AI development environments, minimizing disruptions and simplifying technology adoption.Avant is committed to advancing the AI landscape by providing scalable solutions that will benefit diverse sectors looking to harness the power of artificial intelligence.
CONTINUED… Read this and more news for Avant Technologies at: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
In other industry developments and happenings in the market this week include:
NVIDIA Corporation (NASDAQ: NVDA) (NEO: NVDA), a global leader in providing graphics and compute and networking solutions, recently received an investment of ~US$960 million from Japanese telecommunications company Softbank to enhance its supercomputing power and to support an ambitious generative AI (GenAI) strategy.
Generative AI is increasingly being incorporated into products and services across multiple sectors. A recent projection by Statista, a research firm based in Germany, predicts that the market for generative AI in Japan will expand to approximately $13 billion by 2030, representing a 17x increase from its size in 2023.
Microsoft Corporation (NASDAQ: MSFT) (NEO: MSFT), a global leader in developing and supporting software, services, devises and solutions recently announced it would be investing $1.5 billion into Abu Dhabi’s G42, the leading UAE-based AI tech holding company, to accelerate AI development and global expansion.
“Microsoft’s investment in G42 marks a pivotal moment in our company’s journey of growth and innovation, signifying a strategic alignment of vision and execution between the two organizations,” said H.H. Sheikh Tahnoon bin Zayed Al Nahyan, Chairman of G42. “This partnership is a testament to the shared values and aspirations for progress, fostering greater cooperation and synergy globally.”
G42 will operate its AI applications and services on Microsoft Azure, collaborating to offer advanced AI solutions to global public sector clients and large enterprises. Together, G42 and Microsoft aim to enhance AI and digital infrastructure across the Middle East, Central Asia, and Africa. This collaboration will help these regions gain fair access to services that address key government and business issues, while upholding the highest standards of security and privacy.
D-Wave Quantum Inc. (NYSE: QBTS), a leader in quantum computing systems, software, and services and the world’s first commercial supplier of quantum computers recently announced the launch the first fast-anneal feature, available now on all of D-Wave’s quantum processing units (QPUs) in the LeapTM real-time quantum cloud service. The fast-anneal feature has been central to D-Wave’s key research achievements, as highlighted in publications in Nature Physics and Nature, showing how annealing quantum computing outperforms traditional algorithms in tackling complex optimization problems.
“Providing direct access to Fast Anneal, which has been at the heart of D-Wave’s recent advancements, represents a significant step forward in our mission to provide customers with the resources they need to drive innovation and achieve extraordinary results,” said Dr. Alan Baratz, CEO of D-Wave. “We believe it will further empower them to build industry-shaping applications with the most powerful quantum computing environment available today.”
With enhanced control allowing for notably quicker annealing times than before, this feature enables customers to replicate and expand upon D-Wave’s significant optimization results. Now widely available, this feature allows users to execute quantum computations at unprecedented speeds, significantly mitigating issues like thermal fluctuations and noise that typically disrupt quantum calculations.
Rigetti Computing, Inc. (NASDAQ: RGTI, RGITW), a pioneer in full-stack quantum-classical computing, recently announced the successful completion of its Innovate UK project with Oxford Instruments to launch one of the first UK-based quantum computers. The consortium also included the Quantum Software Lab at the University of Edinburgh, Phasecraft, and Standard Chartered Bank, with financial backing from the UK government’s Quantum Technologies Challenge, led by UK Research & Innovation (UKRI).
“Completing this project, with the end result being a useful 32-qubit quantum computer, is an exceptional achievement for all of the project partners,” said Dr. Subodh Kulkarni, CEO of Rigetti. “It takes a world-class team to build and deploy a quantum computer. The UK has become a world leader in quantum computing technologies, and we are excited to continue to contribute to its quantum computing capabilities. Additionally, Rigetti plans to leverage this experience to continue to develop our UK quantum computing leadership as we embark on deploying a 24-qubit Ankaa-class quantum computer at the NQCC’s Harwell campus.”
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
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Artificial Intelligence
Artificial Intelligence Investment Soars to Trillions, Sparking Regulatory Interest
USA News Group Commentary
VANCOUVER, BC, April 23, 2024 /PRNewswire/ — USA News Group – In just a few years, the potential generated by the rise of Artificial Intelligence (AI) continues to entice investment to the tune of many trillions, with McKinsey & Company projecting generative AI to generate up to $7.9 trillion alone annually. It’s a sector that’s still in its early stages, and with that comes plenty of scrutiny, including the recent actions by US regulators regarding whether or not investors of OpenAI were misled, through an SEC inquiry launched in February. All the while, corporate AI investment is surging, with several companies benefitting including NVIDIA Corporation (NASDAQ:NVDA) (NEO:NVDA), Meta Platforms Inc. (NASDAQ:META) (NEO:META), Apple Inc. (NASDAQ:AAPL) (NEO:AAPL), C3.ai, Inc. (NYSE:AI), and Avant Technologies Inc. (OTC:AVAI).
Looking to help unlock the full potential of AI, Avant Technologies Inc. (OTC:AVAI) is pursuing its stated mission to build the nation’s first supercomputing network to provide big data and AI software companies with a faster, more powerful, and more cost-effective compute infrastructure. Recently Avant signed a co-development agreement with Wired4Tech, Inc. to create high-density compute infrastructure and supercomputer network software to move the company closer to achieving this mission.
“The technological innovations that we expect this collaboration to yield will help to usher in a new era of performance, cost efficiency and environmental sustainability for AI and Big Data,” said Timothy Lantz, CEO of Avant. “We have made exciting progress in the past several months, and we believe this partnership will further help to accelerate speed-to-market of our next generation solutions.”
The Wired4Tech collaboration aims to assist in the final stages of development and testing for Avant’s new high-density private cloud infrastructure solution. Additionally, it will start to establish the groundwork for Avant’s proposed AI supercomputing network. Avant expects to launch its next-generation infrastructure solution sometime in the first half of 2024.
“We’re at an inflection point where accelerated computing and generative AI have come together to speed innovation at an unprecedented pace,” said Paul Averill, Founder and CEO of Wired4Tech. “Our partnership with Avant Technologies will help AI companies accelerate their work with infrastructure, software and services that drive efficiency and reduce costs. There is no AI without the right infrastructure and Avant will lead the way with its unique and innovative and cost-effective AI platform.”
The collaboration was a follow-up to Avant’s announcement that the company is set to leverage its proprietary AI to drive proactive, next-generation data center security, through its enhancements to Avant! AI™, that seamlessly integrates with industry-standard data science tools and algorithms, enabling organizations to harness the power of data for deeper insights and informed decision-making.
“The rapid advancements in AI are unlocking tremendous opportunities and potential across almost every facet of our lives, but those same advancements can also pose an increased threat when used by those with an intent to harm,” said Lantz. “In today’s digital world cybersecurity is of paramount importance and Avant is committed to providing our customers with the necessary tools to ensure the safety and security of their information and that of their end-users.”
The planned improvements in Avant’s proprietary gen AI are designed to achieve two main goals: to provide early detection of potential security vulnerabilities and to offer recommendations for proactive measures to strengthen cybersecurity baselines, reduce risks, and ensure compliance in the ever-changing digital environment.
Under the hood of many of the biggest AI setups today are products from NVIDIA Corporation (NASDAQ:NVDA) (NEO:NVDA), which has seen its market cap surge to more than $2 trillion based upon an insatiable AI chip demand. This includes mega investments from some of the largest tech companies on the planet, including Meta Platforms Inc. (NASDAQ:META) (NEO:META) which is spending billions of dollars on Nvidia’s AI chips.
Shared through an Instagram Reels post by CEO Mark Zuckerberg, Meta’s “future roadmap” for AI requires the construction of “an absolutely massive amount of infrastructure.” By the end of 2024, Zuckerberg mentioned that this infrastructure will comprise 350,000 H100 graphics cards from Nvidia—which were being sold for more than $40,000 on eBay as recently as last April.
The ramp up of GPUs for Meta is projected to cost as much as $18 billion by the end of 2024. The ambitious loading up of infrastructure is similar to Meta’s $13 billion spent on Reality Labs, its metaverse division in 2022.
Competition for computing power will be ramping up, as Apple Inc. (NASDAQ:AAPL) (NEO:AAPL) has signalled the company will be investing significantly in generative AI, as it moves away from its self-driving electric car project. So far, Apple CEO Tim Cook hasn’t launched any competing products to models like OpenAI’s GPT or Google’s Gemini, but he has already teased a major announcement that the company will “break new ground” in GenAI coming later this year.
“AI is woven into our users’ lives for all sorts of tasks, from the everyday to the essential,” said Tim Cook. “AI allows Apple Watch to help you track your workouts, automatically detecting whether you’re taking a walk or going for a swim. It enables your iPhone to call for help if you’re in a car accident.”
While Cook’s sentiments hint towards Apple moving more towards AI investment, the company’s investors have grown impatient with the tech giant after lagging behind its mega-tech peers who have shared much clearer AI strategies.
Enterprise AI application software company C3.ai, Inc. (NYSE:AI) is coming off of a healthy Q3 2024 financial results announcement, where they saw total revenue grow 18% year-over-year to $78.4 million, exceeding their guidance range. Perhaps more importantly, C3 AI saw its customer engagement grow 80% year-over-year, and a 23% increase in subscription revenue.
“Generative AI use cases continue to influence customer engagement, with 17 of 29 total pilots signed in the quarter driven by generative AI,” said Kingsley Crane, analyst at Canaccord Genuity, about C3 AI in a report. “So far, the company has been converting pilots into full-time customers roughly near the assumed spend levels of $210,000 per quarter, even if some pilots have pushed a bit beyond the initially planned six months and started a bit lower than $500,000 contribution over two quarters. If C3 can continue the sequential growth in product revenue we’ve seen over the past three quarters, the firm is on track to grow over 30%.”
Among the customer base that C3 AI has been working with is biotech giant Genentech, to improve the complex biologics manufacturing process with AI. Genentech began using the AI application in 2021 to ensure centrifuges in their facility remained operational, with patients benefitting by receiving their medicines on time. In 2022, the biotech developer would go on to expand its use of C3’s assets beyond centrifuges, to around 200 pieces of equipment in total. Now Genentech has nearly 200 users including data scientists and facility managers who are trained to use the C3 AI platform, and regularly use the AI application to evaluate equipment health and maintain manufacturing operations.
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
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