The future of artificial intelligence is set to be a game-changer, according to a top executive at NVIDIA Corp NVDA. The executive believes AI will soon take on a “human form.” This revelation was made at the Global Management Dialogue event in Tokyo.
What Happened: At the Global Management Dialogue, a forum organized by Nikkei and Swiss business school IMD, Masataka Osaki, the Vice President of Worldwide Field Operations at Nvidia, made a bold prediction. He stated that AI will soon take on a human-like form.
“The machine is to the body what AI is to the brain,” Osaki said. He also highlighted Japan’s potential to become a global leader in AI if businesses quickly connect AI and machines to create new services.
Osaki commended Japan for its efforts to build a domestic base for AI technologies and stressed the importance of developing domestic AI using domestically generated data.
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Why It Matters: Nvidia’s AI technology has been making waves globally. The company recently tapped into India’s growing AI market, recognizing the vast opportunities in AI-driven businesses across Asia. Osaki noted the immense data produced by Asian countries’ diverse languages and cultures, which can be transformed into AI tailored for each region.
This move came on the heels of Nvidia’s almost 200% stock surge, which positioned the company above the market value of Germany and Italy combined. The company’s market capitalization now stands at an impressive $3.5 trillion, reflecting a broader trend where foreign investors own approximately 18% of the U.S. stock market.
This surge in Nvidia’s stock, along with other tech giants, has led to a concentration in the S&P 500, with major U.S. investment funds being compelled to sell shares to avoid violating U.S. tax laws. This has put pressure on investment funds to comply with tax regulations and prevent breaching rules that mandate diversified portfolios.
Price Action: Nvidia stock closed at $140.52 on Monday down 0.72% for the day. In after-hours trading, the stock dipped 0.21%. Year to date, Nvidia’s stock has surged 191.72%, according to data from Benzinga Pro.
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This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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