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Happy Thursday!
Apple Could Take The Role Of A Market Leader In AI Within 2024, And Google Releases An AI Video Tool.
In Today's Article:
Apple Bracing For Generative AI
SAP Restructures 8,000 Jobs To Push For AI
Google Releases AI Video Tool
Read time: 3.5 minutes
Apple Bracing For Generative AI
Apple
Apple is entering the AI scene, and generative AI may be a big part of the next generation of Apple devices.
They have been acquiring AI start-ups at a rapid pace, with 21 acquisitions since 2017. The most notable is the purchase of WaveOne, which specializes in AI-powered video compression.
Now, nearly half of Apple's AI job postings mention "Deep Learning," highlighting a focus on hiring AI talent.
Microsoft recently took Apple’s spot as the most valuable listed company, partly due to AI initiatives.
Apple’s approach is looking different to Google’s and Microsoft’s, as Apple is looking to build in-house products instead of trying to build market backbones.
Could they make a comeback with the last-mover advantage?
🚀 In Today’s News
Source: Google
Google recently announced Lumiere, an advanced AI video generator capable of creating realistic videos from text prompts. Lumiere uses a unique Space-Time U-Net architecture to generate entire videos in a single process, handling both spatial and temporal aspects simultaneously. This model outputs five-second videos at 1024x1024 pixels from a dataset of 30 million videos. It surpasses Google's previous Imagen Video and competitors like Meta's Make-A-Video and Runway's Gen2 in terms of coherence and realism.
SAP, a major software company based in Walldorf, Germany, announced a strategic restructuring to focus more on artificial intelligence. This involves reshuffling about 8,000 jobs, aiming to end 2024 with a stable headcount, despite these changes. SAP forecasts a 2025 operating profit of €10 billion, factoring in a €2 billion deduction for share-based compensation and expecting €500 million in gains from this restructuring. The company maintains its revenue target of €37.5 billion by 2025, with over €21.5 billion from cloud sales. The 2024 projection for cloud and software revenue is between €29 to €29.5 billion, marking an 8% to 10% growth. SAP's non-IFRS operating profit could reach €7.9 billion, up 21% in constant currency. These moves position SAP competitively against other tech giants focusing on AI and cloud services.
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