USA News Group – As the generative AI market gears up for a surge to $1.3 trillion in the next decade, leading tech companies are positioning themselves strategically in this competitive arena. While Alphabet Inc. (NASDAQ:GOOG, GOOGL) (NEO:GOOG) and Microsoft Corporation (NASDAQ:MSFT) (NEO:MSFT) are making significant strides with investments and key talent acquisitions, other notable players like Avant Technologies Inc. (OTC:AVAI), Meta Platforms Inc. (NASDAQ:META) (NEO:META) and Oracle Corporation (NYSE:ORCL) are also emerging as key innovators in the AI sector.

As the titans jockey for position, up-and-comer Avant Technologies Inc. (OTC:AVAI) just set its course with new leadership, in the form of naming tech sector veteran and proven industry leader Timothy Lantz as its new CEO and Director. With more than 20 years of experience and success across every phase of business operations, from start-up through growth, turnaround and strategic financial exits, Lantz’s move to CEO follows his joining Avant’s industry advisory board where he served as the company’s chief advisor on product and go-to-market strategy since earlier this year.

“AI is already changing the world as we know it and Avant Technologies is well-positioned as a frontrunner to support what will undoubtedly be the next major evolutionary leap in human technological advancement,” said Lantz of his appointment. “The opportunity ahead for Avant is immense and to fully realize its potential, we will have to be focused on delivering game-changing technology purpose-built for AI, with both speed and precision. A big part of my job is to enable Avant to bring new, innovative products to market quickly, build a ‘flawless execution’ culture, and position the company for hyper-growth.”

Businesses aiming to enhance their products with AI face significant challenges, primarily due to the high costs of computing and a looming global data storage crisis expected by 2025.

Avant is at the forefront of addressing these two key issues is an innovative firm developing cutting-edge cloud supercomputing technology. Avant claims that their supercomputing network could become the most potent and economical private cloud infrastructure globally.

“The proliferation of the AI, machine learning and big data analytics industries is already rapidly outpacing the capabilities of traditional cloud infrastructure for an industry that demands exponential computer power and storage capacity,” said Lantz. “We recognized this real unmet need and began working to develop a next generation, ultra-high-density supercomputing environment that will revolutionize the landscape for AI companies of all sizes and for any other users who require hyper-scalable, cost-effective computing power.”

Proactively, Avant is addressing the critical issues of cost and performance barriers that currently hinder the advancement and market potential of AI, machine learning, and big data analytics. They’re setting out to transform these fields with its innovative private cloud infrastructure, aiming to boost performance and deliver greater value across a variety of sectors. Their strategy focuses on reducing expenses, enhancing computing density, and providing unique ESG (Environmental, Social, and Governance) benefits by significantly lowering electricity and water consumption.

In its pursuit of refining AI technology, Avant is crafting a computing environment tailored specifically for AI. This environment is designed to be fully compatible with all leading AI frameworks, ensuring ease of integration and streamlined development processes. Avant's dedication to interoperability allows AI developers to leverage much of their existing technological infrastructure while benefiting from Avant's improved performance and cost efficiencies. Tailored to meet the complex computing needs of AI applications, Avant's solution is set to enable swift and effective data movement within all system components, leading to exceptional system performance, availability, and scalability.

Not exactly adding a “new” CEO, but reinserting a previous CEO after a short (very short) stint away from the company, Microsoft Corporation (NASDAQ:MSFT) (NEO:MSFT) recently flexed its investment muscle by putting OpenAI co-founder and ex-CEO Sam Altman back on the throne as OpenAI’s CEO again.

In what was seen as a major shuffle, Microsoft not only put Altman back as CEO, but has now joined OpenAI’s board as a non-voting observer seat, recognizing the tech giant’s role as the company’s largest investor.

“I have never been more excited about the future,” Altman said in a memo to employees. “I am extremely grateful for everyone’s hard work in an unclear and unprecedented situation, and I believe our resilience and spirit set us apart in the industry. I feel so, so good about our probability of success for achieving our mission.”

OpenAI has been very aggressive in obtaining talent from the AI space, including attempts to lure Google AI employees away from parent company Alphabet Inc. (NASDAQ:GOOG, GOOGL) (NEO:GOOG) with pay packets worth as high as $10 million.

Known as the organization responsible for ChatGPT, OpenAI has successfully attracted experts from Google and Meta Platforms Inc. (NASDAQ:META) (NEO:META) to contribute to its AI chatbot project. In the acknowledgments of their blog post, which announced the debut of ChatGPT in November, the names of five ex-Googlers were prominently featured, highlighting the collaborative effort behind this innovative technology.

Meta recently disbanded its Responsible AI (RAI) team, moving the team to other AI departments. As global governments accelerate their efforts to establish regulatory frameworks for artificial intelligence, major tech companies like Meta and Microsoft are making strategic moves in response. Earlier this year, the United States government formed partnerships with AI firms, followed by President Biden's directive for federal agencies to devise AI safety regulations. Concurrently, the European Union has outlined its AI principles and is actively working towards the enactment of its comprehensive AI Act, although it faces challenges in the legislative process.

Microsoft appears to be the most aggressive in this race, having also recently partnered with Oracle Corporation (NYSE:ORCL) to meet demand for AI services. Oracle proudly announced a multi-year agreement with Microsoft, whereby Microsoft is using Oracle Cloud Infrastructure (OCI) AI infrastructure along with Microsoft Azure AI infrastructure for inferencing AI models that are being optimised to power Microsoft Bing conversational searches daily.

“Generative AI is a monumental technological leap and Oracle is enabling Microsoft and thousands of other businesses to build and run new products with our OCI AI capabilities,” said Karan Batta, Senior Vice President, Oracle Cloud Infrastructure. “By furthering our collaboration with Microsoft, we are able to help bring new experiences to more people around the world.”

Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/

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