The Pentagon Invests $2 billion in AI
Having a budget gives you restraints but usually for good reason. If you're on a budget, you probably constantly think about your money and are aware of how much you can and can't spend. Not to mention, you have to decide which things are worth spending your money on.
It's hard to create a budget and stay on it. So, imagine being the Pentagon and having to decide what's worth the investment and what isn't.
In the past, the Pentagon's research agency budgeted and invested in laying the groundwork for the internet, stealth aircraft, and self-driving cars. This is all high-tech research that was crucial and beneficial to the U.S. Now, the Pentagon has its eye on another technology that it feels will be a huge part of the U.S.' and the world's future...
That technology is artificial intelligence (AI).
At its 60th anniversary conference this past Friday, the Defense Advanced Research Projects Agency (DARPA) announced that it would be investing $2 billion to push the frontier of AI forward.
Dr. John Everett, the deputy director of DARPA's Information Innovation Office (I2O), said in an interview:
We think it's a good time to seed the field of AI. We think we can accelerate two decades of progress into five years.
Having this kind of investment in the field of AI will be groundbreaking. It'll give the technology the opportunity to expand and grow at a way faster pace. The breakthroughs that already happened within the last decade for AI were astounding. So, imagine what could happen over the next five years...
Not only that but imagine the kind of investing opportunities that'll arise for you over those short five years...
The Next 5 Years Will Be Crucial
With AI, machines are highly accurate — more than they ever were before. They have the ability to recognize speech, understand images, and process words. And that's given us products like Amazon's Alexa, Apple's Siri, and Waymo's self-driving vehicles. These are all products that have continued to influence and have an impact on our lives.
Tech companies like Amazon and Apple realized how huge AI would be. And that's why they invested in the research and development (R & D) for their AI products. Submerging themselves into the industry and being pioneers has helped them to gain tremendous strides — even if some of their products, like voice assistants, seem kind of minuscule. Just remember, this is only the beginning...
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The U.S. isn't the only country with AI on its agenda. National governments in Canada, China, India, and France have AI as a top priority, too.
This is something that you should be paying attention to. This is obvious from all these national governments recognizing the technological impact that AI will have on the entire world and budgeting to keep up with the tech.
Governments use their money wisely — or at least try to. And if they're being advised to invest in a technology like AI, that means the technology will be huge.
It won't only be a huge part of that particular nation's well-being and economy but also the entire world's economy...
DARPA's HUGE Investment in AI
Let's get back to DARPA and the U.S.' goals to push AI forward…
DARPA will focus on creating systems that'll have common sense, contextual awareness, and better energy efficiency. Having these types of systems will help the government to automate security clearances, accredit software systems, and make AI systems that have the ability to explain themselves.
DARPA is focused on developing AI methods to mimic the way humans learn. And Everett says there's a high probability that the agency will invest even more money into AI's development.
If we get positive results and they're important, and they're relevant to the military and national security, we're not going to stop.
And to be honest, I don't see them stopping. AI will prove to be useful for governments and the enhancement of national security, which is something that's long overdue.
The next five years will be extremely busy for the AI industry. And now's the time to start thinking about your AI investments — before things really start to heat up.
Until next time,
Monica Savaglia is Wealth Daily’s IPO specialist. With passion and knowledge, she wants to open up the world of IPOs and their long-term potential to everyday investors. She does this through her newsletter IPO Authority, a one-stop resource for everything IPO. She also contributes regularly to the Wealth Daily e-letter. To learn more about Monica, click here.