Machine learning technology has now reached a stage in its development
where these intelligent machines don't necessarily need programming. These
systems can understand the nature of the problem it is asked to solve or
the task to be performed. To keep their competitive advantage, tech giants
like Google, IBM, Facebook are therefore devoting a significant amount of
money and resources to this area. For example, the CEO of Google recently
announced that AI and machine learning will be the central component in all
of their products and have therefore tripled the number of machine learning
researchers working for the company over the last few years.
30
Google also
recently invested $4.5 million in the Montreal Institute for Learning Algorithms,
a machine learning research lab at the University of Montreal, following Intel's
investment of $1.5 million to establish a machine learning research center at
Georgia Tech. VC firms are also favoring the machine learning space – 60%
of the $12 billion invested in the AI space last year went towards machine
learning start-ups.
31
This is most likely because machine learning is an enabler
for so many other technologies and applications.
• Computer Vision/Image Recognition:
Computer vision is the method of
processing and analyzing images to understand and produce information from
them. Image recognition is the process of scanning images to identify objects
and faces. These artificial intelligence applications that interpret and act on
visual data can be used in a variety of fields. The market is currently being
driven by a rapid interest in the commercialization of drones, autonomous cars,
and other robotics applications.
30
Regalado, Antonio. How AI is exploding at Google. MIT Technology Review, 27 Mar. 2017,
.
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"Artificial Intelligence, The Next Digital Frontier?" McKinsey Global Institute, page 12.
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Taiwan Economic Forum
Volume 15, Number 4
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