On November 30, 2022, when the startup OpenAI launched ChatGPT, a conversational chatbot, the public did not yet really know the extent of the progress made in recent years by artificial intelligence (AI).
While many cars today are equipped with technologies that allow them to perform many maneuvers on their own, consumers have not often linked these developments to advances in AI. Likewise, they never thought that artificial intelligence had made colossal progress, despite the introduction of voice assistants like Siri and Alexa into their daily lives. ChatGPT has lifted this veil which obscured the world from seeing AI in its true light.
The chatbot has indeed taken the world by storm. ChatGPT, which provides human-like responses to even complex requests, has changed the way internet search is perceived. The chatbot showed that artificial intelligence has reached a point where technology can perform certain tasks much better than humans can.
Microsoft (MSFT) immediately incorporated ChatGPT features into Bing, its search engine. The Redmond, Wash., group has also deployed these features in almost all its products and in its cloud activity.
The big change is that now, when consumers submit their queries using Microsoft's Bing, they will receive exact answers to the questions asked, instead of the current collection of links. Up to now, a user has had to scan the links and click on the ones that most likely would answer the question posed. The chatbot can also perform extremely complex tasks such as, for example, writing a book.
Firms Dragging Their Feet Will Perish: Huang
Faced with this offensive, Alphabet's Google (GOOGL) recently launched Bard, a rival to ChatGPT. Besides the two giants, almost every tech group and many platforms are developing their own AI platforms and tools. Meta Platforms (META), parent company of Facebook, Instagram and WhatsApp, Amazon, Apple, they are all launched in a frantic race. This is the case in all industries. From automotive to finance to fashion, AI is everywhere.
The AI revolution, powered by what's known as large-language-model technology, is shaking up nearly every economic sector. The belief is that AI will cut significant corporate costs, create jobs that did not exist and kill many existing jobs.
It is in this context that Jensen Huang, the Chief Executive Officer and co-founder of Nvidia, gave a commencement speech on May 28 at the National Taiwan University in Taipei.
Huang was blunt: companies and people who don't want to take an interest in AI and learn about it are going to become obsolete. For him, this revolutionary technology will transform businesses and virtually every job. Therefore, there is an urgent need for individuals and companies alike to embrace this technology, which is boosting Nvidia's stock price.
"Agile companies will take advantage of AI and boost their position. Companies less so will perish," Huang told graduating students according to excerpts of his speech reported by Bloomberg News. "While some worry that AI may take their jobs, someone who is expert with AI will."
'Enter You Are Running for Food Or You Are Running From Becoming Food'
He encouraged the new graduate students to take a risk and be creative in the AI era if they don't want to fall behind.
"In 40 years, we created the PC, internet, mobile, cloud, and now the AI era. What will you create?" he challenged them. "Whatever it is, run after it like we did. Run, don't walk."
"Either you are running for food, or you are running from becoming food."
Nvidia (NVDA), his company, is definitely running. The stock gained 27.5% in the two trading sessions following the release of its fiscal first quarter results on May 24. This dramatic leap brought the company closer to the very select club of companies with over $1 trillion in market capitalization. Only five companies in the world -- Apple (AAPL), Microsoft, Saudi Aramco, Alphabet and Amazon (AMZN) -- are part of this elite club, according to companiesmarketcap.com. Nvidia has a market cap of over $963 billion at last check, making it the sixth largest company in the world.
The firm takes advantage of its special place in the AI ecosystem. Indeed, its graphics cards are used to train and develop AI systems through machine learning and deep learning programs. AI companies need Nvidia's GPUs for high-performance computing within their data centers.
