Artificial intelligence on the cusp of major disruption, tech startup leader predicts

Dive Brief: The co-founder of AI startup Vicarious predicts that the tech industry is on the cusp of a major breakthrough in AI, CIO reports. D. Scott Phoenix said the availability of huge amounts of data and cheap storage, memory and computing power will enable AI to make a major leap as soon as this summer. A Bank of America report citing IDC research recently predicted that the AI industry will grow to $70 billion by 2020 from just $8.2 billion in 2013. Dive Insight: “We saw something similar in the early days of software — and the early days of the Internet,” Phoenix told CIO. “We’re entering that era of rapid improvement.” Vicarious hasn’t revealed much about what it plans to unveil next, but the company has been working…


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