AI Hits the Mainstream and January Jobs Report Beats Expectations: Forbes AI Newsletter February 11th
The world of artificial intelligence (AI) is rapidly evolving, and it’s becoming increasingly mainstream. This week, we saw a number of exciting developments in the field that demonstrate just how far AI has come. On top of that, the latest jobs report showed some positive news for the US economy. Here’s what you need to know about these two stories from this week’s Forbes AI newsletter.
First up is the news that AI has hit the mainstream. In recent years, there have been numerous advances in machine learning technology which have enabled companies to use AI for a variety of tasks such as customer service automation or facial recognition software. Now, more businesses are beginning to recognize its potential and are investing heavily in developing their own applications for it. For example, Amazon recently announced plans to invest $1 billion into an “AI-first” strategy over five years while Microsoft unveiled its new Azure Cognitive Services platform which will enable developers to build custom applications using pre-trained models from Microsoft’s vast library of data sets and algorithms. These investments show just how much confidence companies now have in leveraging AI technology for their business needs – something that was unthinkable only a few short years ago!
On top of this exciting development with regards to AI hitting the mainstream comes good news on another front: The January jobs report beat expectations by adding 379k nonfarm payrolls compared with estimates calling for 200k additions! This marks yet another month where job growth exceeded expectations despite ongoing economic uncertainty due to COVID-19 restrictions still being implemented across many parts of America. It also shows signs that businesses may be starting to hire again after months of layoffs caused by pandemic lockdowns last year – something economists had feared would not happen until later this year at least!
Overall then, it looks like 2021 could be off to a great start when it comes both technological advancements with regards to artificial intelligence as well as economic recovery following 2020’s tumultuous events! We hope you found our summary useful – stay tuned next week when we’ll bring you even more updates on all things related to artificial intelligence and beyond!