AI innovation wins Nvidia crown
The MIT Technology Review recognized Nvidia (NVDA) as the smartest company in the world in 2017. The recognition was specifically tied to Nvidia’s innovations related to artificial intelligence (or AI).
Nvidia’s advanced chips geared toward AI functions are transforming industries. According to the company, all major Internet and cloud computing service providers use its advanced chips to accelerate their processes. In addition, large automakers such as Toyota (TM) have embraced Nvidia’s AI chips for their autonomous driving programs.
$59 billion in AI revenues
There is significant revenue potential in the AI industry. As we can see from the chart above, research firm IDC forecasts that AI could drive more than $47 billion in revenues by 2020, up from nearly $8.0 billion in 2016.
Grand View Research forecasts that AI could generate $35.9 billion in direct revenues and $59.0 billion in enabled revenues by 2025. These projections imply robust growth in the AI industry and notable revenue potential for Nvidia.