SAS Institute, a leading analytics company, has announced its plans to invest an additional $1 billion in artificial intelligence (AI) over the next three years. The company aims to develop advanced solutions customized to the specific needs of various industries, such as banking, insurance, and healthcare. SAS Chief Technology Officer Bryan Harris has confirmed that the investment could include acquisitions. Still, a significant portion of the spending will be on research and development and marketing expenditures.
The Second Leg of Growth for SAS
Speaking to reporters at the SAS Innovate event in Orlando, Harris revealed that SAS sees AI as the second leg of growth for the company over the next 50 years. The company had previously pledged to invest $1 billion in AI, including establishing a Global Education Center in Cary. With this new announcement, SAS will continue to leverage its experience and expand its data ethics practice to address the AI opportunity and compete on values.
AI: A Key Focus for Tech Companies
SAS is not alone in focusing on AI’s potential, with other tech giants like IBM also emphasizing the importance of AI. IBM has recently unveiled WatsonX, an AI platform for the enterprise, at its own industry event. According to IBM CEO Arvind Krishna, the industry is approaching a “Netscape moment” in AI. He believes that AI will bring the technology to life for more people and enhance its potential.
Key Highlights:
- SAS Institute plans to invest another $1 billion in artificial intelligence over the next three years.
- The company aims to develop advanced solutions customized to the specific needs of various industries, such as banking, insurance, and healthcare.
- The investment could include acquisitions, but a significant portion of the spending will be on research and development and marketing expenditures.
