Deep Learning and Neural Networks Drive a Potential $7.9 Trillion AI Economy

USA News Group Commentary

VANCOUVER, BC, April 29, 2024 /PRNewswire/ -- USA News Group – As artificial intelligence (AI) continues to permeate the corporate landscape, its potential economic impact is becoming increasingly clear. According to McKinsey & Company's recent analysis, which spans 63 different use cases, the data suggests that generative AI could contribute as much as $7.9 trillion to the global economy annually in the foreseeable future. The market has already responded, as the Cloud & AI Confidence Index reached nearly $8 trillion in the first quarter of 2024, showing the potential for generative AI to be "unlimited". One major aspect of the AI revolution is the rapid progression of deep machine learning and neural networks, which are each making major strides thanks to the advancements being made by developers, such as Tesla, Inc. (NASDAQ: TSLA) (NEO: TSLA), Accenture plc (NYSE: ACN), Palantir Technologies Inc. (NYSE: PLTR), ServiceNow, Inc. (NYSE: NOW) (NEO: NOWS), and Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF).

With the endless possibilities for deep machine learning being revealed consistently across several sectors, AI-based tech developer Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF) recently underwent a name change and broadened its scope of potential clientele—no pun intended. Branching beyond its previous AI efforts involving agriculture, Scope has shifted the focus of its proprietary asset called GEM (General Enterprise Machine Learning) to be used in such sectors as digital marketing/advertising, and online gaming.

As part of the operational shift, the company recently announced veteran Adtech, Gaming and Publishing executive James Young as its new CEO. Young brings over 25 years of leadership experience to Scope AI, with the intention to branch out GEM's capabilities to new sectors and potential clientele.

"We are thrilled to welcome James as our new CEO," said James Liang, former CEO of Scope AI. "With his extensive experience and leadership qualities, we are confident that James will guide Scope to new heights and deliver value to our shareholders, customers, and employees."

According to the company's new website, Scope's initial target markets will be the advertising and gaming industries, and upon successful beta testing, the company will expand to several other industries to meet the demands of businesses.

At its core, GEM is designed to allow businesses to create their own object detection, visual information systems, and a complete neural network. With its intuitive web-interface, Scope sees GEM helping retail businesses easily set up an object detection system to monitor inventory levels and customer interactions in real-time, with capabilities for CRM, enhanced login and account security, and data encryption.