California-based Intel is considered a tech major for a reason. Intel's innovation in cloud computing, data center, Internet of Things, and PC solutions have and are still powering the smart and connected digital world that we live in today. The best thing about the company is, that it doesn't stop. After ruling the semiconductor chip market, the tech company is now vying to become the “the AI platform of choice.”

In order to realise its Artificial Intelligence (AI) mission, the American multinational corporation and technology company has already invested billions of dollars in developing machines that could be one day capable of carrying out tasks normally earmarked for humans.

Confirming the company's enthusiasm about the emerging technology, Intel's CEO Brian Krzanich in an op-ed published earlier this week revealed that Intel Capital, which is Intel's capital investment fund, has already put in over $1 billion in startups that are working towards advancing the course of AI. This includes Data Robot, Lumiata and Mighty AI.

Not only this, the chipmaker also has spent big cash on carrying out AI-related research and development and partnerships. It has also invested about $16 billion of its money on acquiring small but important AI specialists, such as MobileEye and Nervana to name a few, so that the company can have a respectable presence in a market that is poised for big things in the coming future.

Intel's AI investments are distributed over a number of industries, including autonomous driving, medical technology and doing climate change research.

In the op-ed published, Krzanich shares that Intel as a company has a very optimistic and pragmatic view of how AI will impact the working of daily lives of human beings. It considers that AI will one day mimic some of most profound transformations – from the industrial to the PC revolutions.

He further added, “Our belief is that AI will bring significant new opportunities to transform business – from retail to healthcare to manufacturing – and have an immensely positive impact on society. AI will make the impossible possible: advancing research on cancer, Parkinson’s disease and brain disorders; helping to find missing children; and furthering scientific efforts in climate change, space exploration and oceanic research.”

Intel's POV about AI is in direct contrast to Elon Musk's view on the technology. The Tesla and SpaceX chief executive has been trying to warn the tech world about the perils of AI for some years now. Last month, he once again voiced his concerns about artificial intelligence, and said that it poses “vastly more risk” than the apparent nuclear capabilities of North Korea does.

While the tech world biggies are divided about their views on AI, one thing is for sure that AI is the new and upcoming technology, destined to find a crucial place in our lives in future. London-based professional services network, PwC, predicts that Artificial Intelligence will contribute a whopping $15.7 trillion to the global economy by the year 2030, which is the equivalent of the combined output being currently drawn out of India and China.

Intel has recently also decided to provide more contribution to Alphabet's self-driving unit Waymo. The chipmaker has worked with the company in the past and provided the technology that runs Waymo’s self-driving Chrysler Pacifica minivans. The two big names have now decided to join hands to provide the computing power necessary for Level 4 and 5 autonomous vehicles.

This development was first reported in Investopedia.

[Image: Business Cloud News]

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