Intel is Bullish on AI

Written by Jennifer Clark
Posted December 18, 2019

Artificial intelligence (AI) aims to save the world and make it a better place... at least that’s what the media and tech companies tell the public. One thing is clear: There’s a lot of hype surrounding artificial intelligence and machine learning. 

For a while, it was thought the technology would steal jobs away from hardworking humans. Though that's still a concern, for the most part, the public has shifted its views on AI and is less scared of the technology and the innovation it’s spurring. 

Analysts say that 2020 will be the year that AI and automation transition away from experimentation and into adoption.

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Co-founder and CSO of Trifacta Joe Hellerstein said:

Throughout 2020, expect to see energy around artificial intelligence and machine learning (AI/ML) shift from research into engineering, bringing an increased focus on managing the AI/ML lifecycle in production. Expect to also see increased investment in data preparation — an integral component in any data project that is still often regarded as the biggest bottleneck for many — driving improvement in data quality and relieve IT from the pressures of preparing data. Lastly, there will be an increased focus on monitoring AI/ML pipelines, which helps track the quality of prediction serving in production, as well as compare production workload traces to repeat the cycle of data prep and quality in the face of new evidence.

It’s time to see what AI and ML can do, so companies are investing in these technologies to better understand the possibilities that lie ahead and the implications for our society.

Forrester predicts that in 2020, 25% of Fortune 500 companies will add AI building blocks (text analytics and machine learning) to their robotic process automation (RPA) efforts to create hundreds of new intelligence process automation (IPA) use cases. Additionally, Forrester predicts that the tech elite will ramp up AI design skills. 

It’s time for these tech elite to get their ducks in a row and start making significant strides to achieve the possibilities of AI. 

That’s why Intel (Nasdaq: INTC) continues to invest in AI. It recently spent $2 billion to acquire Israel-based AI firm Habana Labs. In a press release, Intel said that a partnership with Habana Labs will turbo-charge its AI offerings for data centers. 

This acquisition is expected to give an advantage to mobile and web-based apps that use Intel’s AI data center offerings, providing faster and more accurate features, like photo and speech recognition.  

Intel’s increased investment in AI has become significant to the company’s business. Intel expects to generate over $3.5 billion in AI-driven revenue in 2019 — a 20% increase from 2018.

Intel sees a bright future for AI and its capabilities. It hopes to use AI to do things like reconnecting damaged spinal nerves in paralyzed patients and creating wheelchairs that can be controlled by facial expressions. 

It has also experimented with AI chips that have the ability to mimic the human brain. Intel says ultra-efficient chips could have the power to perform a variety of tasks from prosthetics to self-driving cars.

Intel wants to be a leader in the AI market, and a move like its Habana Labs acquisition is one way to get ahead. Intel EVP Navin Shenoy said:

This acquisition advances our AI strategy, which is to provide customers with solutions to fit every performance need — from the intelligence edge to the data center. 

More specifically, Habana turbo-charges our AI offerings for the data center with a high-performance training processor family and a standards-based programming environment to address evolving AI workloads.

As of right now, Habana will be an independent business unit. It’ll keep its current management team, and its operations will continue to reside in Israel.

Intel doesn’t want to miss its chance in a prosperous market. It’s serious about being a market leader in the booming AI industry. Look out for news from the company.

Until next time, 

Jennifer Clark
Pro Trader Today

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