This Monday, the tech world got a big shock. A senior administration official for the Trump administration announced that the President would be signing an executive order to create an American Artificial Intelligence (AI) Initiative.
This American AI Initiative will be designed to dedicate resources and funnel investments toward AI. The executive order is titled “Accelerating America’s Leadership in Artificial Intelligence.”
Everything about this order from the President is still in the works. There is no understanding on how it will be paid for or how exactly the government will designate resources towards AI.
In President Trump’s 2019 State of the Union Address, he emphasized investing in cutting-edge “industries of the future.” And one of those industries he had in mind is the groundbreaking technology that is artificial intelligence. AI technologies and research into them have started to take off in the past few years, as our lives have become more reliant on staying connected.
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AI Is Expanding Our Lives
Almost every area of our lives is being impacted by technology. Industries like transportation, health care, education, and security have all been seeing the shift toward new technologies to better improve these industries and ultimately our lives.
And the people who have become early investors in these groundbreaking technologies have become the real winners. America can’t stand idly by as one of the most influential technologies takes off right in front of the nation. The President realizes the opportunities that are ahead. To really prosper as a nation, America will need to step up and start investing in AI.
What Is This Initiative All About?
The initiative is going to take the resources of the federal government and begin developing AI in order to increase America’s prosperity and improve national and economic security, while also improving the lives of Americans.
As I mentioned earlier, AI has been improving a variety of industries. One important industry is health care. If AI can improve diagnosis or disease detection or even make it easier for a doctor to perform a surgery or procedure, that will give a doctors better results and patients better chances of living improved lives after going under the knife.
The initiative has five key areas of focus:
- Investing in AI Research and Development
- Unleashing AI Resources
- Setting AI Governance Standards
- Building the AI Workforce
- International Engagement and Protecting our AI Advantage
A $300 Billion Industry By 2026!
According to a report by BusinessWire, the global artificial intelligence market accounted for $15.7 billion in 2017 and is expected to reach $300.26 billion by 2026, with a CAGR of 38.8% during that forecast period.
Yes, that’s right: $300.26 billion by 2026. It’s going to be a huge market that’s only going to get bigger with the rise in demand for virtual assistants, enhanced operational efficiency in manufacturing, and cloud-based applications and services.
These reasons alone are more than enough justification for America to focus on AI and begin investing in the technology of the future. America is getting serious about investing in AI… why aren’t you?
Until next time,
Jennifer Clark
Pro Trader Today