This year, artificial intelligence played a key role in two Nobel Prizes for scientific achievement. One prize was awarded for developing the technology, while the other was for its application. These two Nobel Prize wins clarify that AI is here to stay. However, key issues such as regulations, ethical use, and other potential risks, still need to be resolved for responsible and sustainable integration into society.
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On Saturday, December 7, Physics Nobel Prize winner Geoffrey Hinton and Chemistry laureate Demis Hassabis asserted the need for strong regulation of artificial intelligence, having played a key role in their awards.
“AI is a very important technology to regulate but I think it’s very important that we get the regulations right and I think that’s the hard thing at the moment is it’s such a fast moving technology”.
-Hassabis told a news conference in Stockholm.
According to Hassabis, having jointly won the Nobel Prize with Americans David Baker and John Jumper for revealing the secrets of proteins through AI, the main issue is defining the purpose, deployment, and making sure that artificial intelligence benefits all of humanity.
In this regard, British-Canadian Hinton, considered the “Godfather of AI”, said he wished he had thought about safety earlier, reflecting his worries about how AI could potentially escalate the arms race. He gained attention last year after he left Google to warn against risks of AI outsmarting people someday, and was awarded a Nobel Prize along with American John Hopfield for work on artificial neural networks.
President-elect Donald Trump has vowed deregulation and also shared his views to rescind President Joe Biden’s executive order on AI after he takes office in January. Nevertheless, it is still yet to unfold how he will approach AI regulation in particular. Trump has already appointed David Sacks as the AI and crypto czar, showcasing his proactive stance on advancing artificial intelligence and cryptocurrency innovation.
In light of this, Axios reported that the US government has approved the export of advanced artificial intelligence chips to a facility in the United Arab Emirates as part of the company’s highly-scrutinized partnership with Emirati AI firm G42. There were concerns raised about the transfer of sensitive technology to China, and the approved export license includes strict conditions to prevent access to the facility by personnel from nations under U.S. arms embargoes or those listed on the U.S. Bureau of Industry and Security’s Entity List.
A macro view of a 5G/4G chips and modules, displaying the cutting edge technology of the company.
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10. Veritone, Inc. (NASDAQ:VERI)
Number of Hedge Fund Holders: 6
Veritone, Inc. (NASDAQ:VERI) is engaged in the provision of artificial intelligence (AI) computing solutions and services. On December 5, the company announced that its Artificial Intelligence Solutions Group’s (AISG) offerings are now available on the AWS Marketplace. This availability in AWS Marketplace allows organizations to adopt AI by accessing, purchasing, and deploying Veritone’s AI solutions directly within the AWS cloud environment. Leveraging these solutions will enable enterprises to drive innovation, efficiency, and scale enterprise AI initiatives.
“Our mission at Veritone is to empower organizations with transformative AI solutions tailored to their unique business problems. Expanding our AI Solutions Group’s offerings to the AWS Marketplace broadens our reach, enabling Veritone to deliver AI solution development services and immersive bootcamps to more organizations, unlocking new opportunities for growth and innovation”.
-Ryan Steelberg, president and chief executive officer, Veritone.
9. PROS Holdings, Inc. (NYSE:PRO)
Number of Hedge Fund Holders: 6
PROS Holdings, Inc. (NYSE: PRO) is a leading provider of AI-powered SaaS pricing and selling solutions. On December 6, the company announced it has been named a Leader in the IDC MarketScape: Worldwide CPQ Applications for Commerce 2024-2025 Vendor Assessment. The recognition highlights PROS Holdings’ strong AI leadership, unique position as an end-to-end platform with advanced pricing capabilities, and deep integration with core partners. CPQ applications are crucial for companies to configure products and services, execute pricing strategies, manage deal construction, and generate quotes for customers. In particular, they help maneuver complex B2B sales environments where the accurate customization of offerings and pricing to customer needs can greatly impact sales success and operational efficiency.
“PROS approach to CPQ is unique in today’s complex B2B sales environment, where the need for efficient and accurate sales processes has never been greater. With robust AI-driven pricing capabilities and self-service environment packing a 1-2 punch, PROS continues to drive product innovation that supports sellers’ needs as they embrace multichannel sales strategies and deliver better buyer experiences”.
-Heather Hershey, Research Director, IDC.