Mark Cuban, the billionaire owner of the Dallas Mavericks and a long-time investor on ABC’s Shark Tank, has been a huge proponent of artificial intelligence (AI).
Last year, he pledged $2 million to support AI education for youth.
Recently, he pointed to major tech companies that are winning in AI – like Google, Apple, Amazon, Facebook, and Microsoft – to illustrate the power of leveraging this technology. Combined, these companies’ total market capitalization is $7.8 trillion.
In a follow-up to this post, Cuban explained that the value in AI is not necessarily in what consumers can see, but in what is done with AI behind the scenes to optimize operations, pricing, etc.
Companies are trying to keep pace by doubling down on AI and machine learning investments. In Algorithmia’s survey, 2021 Enterprise Trends in Machine Learning, they interviewed 403 business leaders and practitioners to learn about their efforts relative to these emerging technologies.
Per the survey results:
- 76% of enterprises are prioritizing AI and machine learning (ML) over other IT initiatives this year.
- 83% of enterprises grew their budgets for AI and machine learning from 2019 to 2020.
- The number of data scientists jumped 76% between 2020 and 2021.
To learn more about this study, read this Forbes article.
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