We recently published a list of 10 AI Headlines You Shouldn’t Miss. In this article, we are going to take a look at where Autodesk, Inc. (NASDAQ:ADSK) stands against other AI headlines you shouldn’t miss.
Sovereign AI: a new concept gaining traction in the realm of artificial intelligence. As reported by CNBC, tech giants are developing “sovereign” artificial intelligence models to boost their competitiveness. Last month, Denmark revealed its very own artificial intelligence supercomputer, becoming one of many sovereign AI initiatives that have the ability to “codify” a country’s culture, history, and collective intelligence.
READ ALSO: 10 AI Headlines Making Waves Today and 15 AI News You Must Read Today
That said, many of the biggest large language models today, such as OpenAI’s ChatGPT and Anthropic’s Claude, have US-based data centers for storing data and processing requests from the cloud. Several politicians and regulators hailing from Europe are beginning to raise concern over this, who believe that dependence on US technology is harmful to their continent’s competitiveness and technological resilience.
Filippo Sanesi, global head of marketing and operations at OVHCloud, noted that the French cloud firm is experiencing lots of demand for its European-located infrastructure, as they “understand the value of having their data in Europe, which are subject to European legislation.”
“As this concept of data sovereignty becomes more mature and people understand what it means, we see more and more companies understanding the importance of having your data locally and under a specific jurisdiction and governance. We have a lot of data. This data is sovereign in specific countries, under specific regulations.”
– Filippo Sanesi told CNBC.
While AI sovereignty is not yet a regulatory mandate, European countries are increasingly investing in AI technologies that are reflective of their own societal norms.
Latest Advancements in AI
In recent news, more than 3,000 companies from around the world participated in Lisbon’s Web Summit 2024. The theme for Europe’s largest technology event was artificial intelligence, with startups showcasing machines that could think and learn, and even solve many of the world’s problems, such as deforestation. One such startup at the summit was Woodchat, an artificial intelligence system identifying lumber types to combat the use of illegal wood.
“WoodChat is an artificial intelligence system that identifies lumber types, and the whole thing is done via WhatsApp. Our technology is an API verified by Meta. In Brazil, our recognition system is used to fill out forestry documents. The process helps loggers to fill it out so that the wood passes through the federal system with authorised certification”.
– Fernanda Onofre, founder of WoodChat.
Other fields with interesting startups at the summit were robotics, finance, and also air travel.
In other AI news, OpenAI, an American artificial intelligence research organization, is preparing to launch a new artificial intelligence operator codenamed “Operator”, Bloomberg reports. The company is reportedly set to launch the tool as a research preview in January, allowing a computer to take action on a human’s behalf, such as writing code or booking travel. The planned release is part of a wider industry movement towards agents—AI software capable of performing multi-step tasks for users with minimal oversight.
For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds.
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A software engineer using AutoCAD Civil 3D to create a 3D design in a modern office setting.
Autodesk, Inc. (NASDAQ:ADSK)
Market Capitalization: $66.46 billion
Autodesk, Inc. (NASDAQ:ADSK) is a global leader in design and make technology, offering 3D design, engineering, and entertainment technology solutions worldwide. It is one of the leading providers of AI design tools that help cut costs and save time.
On November 12, Autodesk, Inc. (NASDAQ:ADSK) and Trane Technologies (NYSE:TT), a global climate innovator, entered into a strategic collaboration to improve the design of commercial buildings by leveraging artificial intelligence, with a key focus on sustainability. By integrating Trane’s TRACE® software with Autodesk Revit for engineers, engineers will be able to more efficiently design and size complex HVAC systems, reducing building emissions and improving energy and economic outcomes. Meanwhile, AI-assisted designs will simplify workflows and enhance MEP design process efficiency. The solutions will initially be available in high-BIM adoption regions like the United States and Canada.
“Our strategic work with Trane Technologies underscores our commitment to addressing the critical workflow gaps faced by engineers today, while leveraging AI and machine learning to enhance the extensibility of Autodesk’s platforms. By integrating Trane’s trusted capabilities into Revit, we provide engineers with tools that deliver reliable performance, while empowering them to tackle today’s greatest industry challenges. Together, we’re bridging the digital and physical, and unlocking data to create more efficient, sustainable buildings.”
– Nicolas Mangon, VP, AEC Industry Strategy at Autodesk.
Overall, ADSK ranks 7th on our list of AI headlines you shouldn’t miss. While we acknowledge the potential of ADSK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ADSK but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.