SAS Invests US$1 Bln On AI Over The Next Three Years
ORLANDO (Florida), May 10 (Bernama) -- SAS Innovate 2023, the Artificial Intelligence (AI) and analytics business conference kickstarted here Tuesday, pledging an investment of US$1 billion to provide cutting-edge AI-powered industry solutions to its customers over the next three years.
The investment comes at a time when global companies like Microsoft and Google are also ramping up their efforts to dominate the AI space following the release of ChatGPT, an AI chatbot developed by OpenAI and released in November 2022.
SAS Chief Executive Officer, Jim Goodnight said SAS, the leader in analytics headquartered in Carey, North Carolina, will utilise the investment to further develop advanced analytics solutions targeted at the unique needs of specific industries.
“Businesses face many challenges, from the threat of economic recession and stressed supply chains to workforce shortages and regulatory changes. With insights from industry-focused analytics, resilient organisations can find opportunity in these challenges.
“Through this investment, SAS will continue to support companies using AI, machine learning and advanced analytics to fight fraud, manage risk, better serve customers and citizens, and much more.
“We remain steadfast in our ongoing commitment to innovation while delivering the market’s best analytics,” he said at the event organised by SAS at Hyatt Regency Hotel here.
He said all industry solutions will run on SAS Viya, SAS’ cloud-native, massively parallel AI and analytics platform.
The billion-dollar investment includes direct research and development, industry-focused line-of-business teams, and industry marketing efforts.
It will fund the innovative work of SAS data scientists, statisticians and software developers working with consultants, systems engineers and marketers with specific industry experience.
The two-day conference which ends Wednesday (May 10) attended by executives and front-line workers using AI technologies to optimise their businesses, also discussed the development of cloud analytics besides ethical concerns and challenges related to developing and implementing AI technologies in health care.
With the rapid advancements in AI, the speakers and presenters felt that there is a need to ensure that these technologies are designed and used in a safe, transparent and ethical way.
Among the presenters are executives from leading organisations including HSBC Bank besides American best-selling author of Moneyball, Michael Lewis and former head of Men’s Basketball Coach of Duke University (1980-2022), Mike Krzyzewski.
There were also media delegation from the Asia Pacific and European countries including from India, Japan, South Korea, China, Germany and Malaysia which was represented by Malaysian National News Agency (BERNAMA).
--BERNAMA
