Google, a global technology powerhouse (NASDAQ:GOOG, NASDAQ:GOOGL), began its highly anticipated annual Cloud Next event this week, revealing numerous significant partnerships and unveiling cutting-edge advancements in artificial intelligence.
Google has joined forces with General Motors (GM) to integrate Google Cloud’s conversational AI technology into GM’s OnStar Interactive Virtual Assistant. This collaboration aims to enhance driver experiences by providing assistance with navigation and routing.
Additionally, noteworthy partnerships include collaborations with MSCI, a financial services company, Ginkgo Bioworks, a cell platform company, SAP, a leader in enterprise solutions, and UiPath, a prominent business automation software company.
Furthermore, Google has become the primary cloud service provider for Canoo, an emerging electric vehicle company, offering Cloud AI, data management, and advanced security solutions.
Advancements in AI
Google’s Cloud clients can now access Meta Platforms and Anthropic’s Claude 2, along with the large language model LLaMa 2. Over half of the generative AI startups utilize Google’s Cloud ecosystem.
Moreover, Google unveiled its fifth-generation tensor processing unit chip, TPU v5e, specifically designed for training large language models. This groundbreaking chip offers superior cost efficiency, providing up to twice the training performance per dollar compared to its predecessor.
AI Tools for Gmail and Enhancements
During Cloud Next, Google introduced AI tools for corporate Gmail accounts, enhancing productivity and efficiency. These tools, which have been rigorously tested by over 1 million users, are available at a subscription cost of $30 per month per person. Google plans to introduce more AI-focused offerings across different customer segments.
Additions and Innovations
Google also announced the release of PaLM, an upgraded version of its text AI model, and showcased other AI-related tools, including technology that can add watermarks to AI-generated images.
Following these impactful announcements, Google’s stock (GOOG, GOOGL) experienced a significant increase of over 4% during mid-day trading on Tuesday.