Alphabet’s Schmidt Says Next Great IPOs Will Come From Machine Learning

By Tiernan Ray Alphabet’s (GOOGL) executive chairman Eric Schmidt  today made his pitch for how cloud computing will move forward, predicting that “the next great IPOs in five years from now” will be built on machine learning, technology that lets a computer algorithm analyze patterns to come up with new approaches to information. Schmidt, speaking at the company’s cloud developer conference, “GCP: Next,” was welcomed onstage by the company’s cloud executive, Diane Greene. Schmidt said today’s infrastructure software, things such as virtual machines and “containers,” would become passé in years to come, just like the choke in cars from the 1960s. Instead, he said, companies would build businesses as big as Uber by combining machine learning with “crowd-sourced” data gathered from people. “This will be as big a platform as the app revolution…


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