TL;DR:
- SAS, the North Carolina-based software player, plans to invest an additional $1 billion in artificial intelligence (AI) analytics over the next three years.
- The investment aims to develop cloud-first, AI-powered advanced analytics solutions for various sectors, including banking, insurance, government, healthcare, retail, manufacturing, and energy.
- The funding will support research and development, industry-focused teams, and industry marketing efforts.
- SAS emphasizes the importance of industry-focused analytics in helping organizations identify opportunities amid challenges.
- The investment includes a strategic focus on India, where SAS has a significant R&D center and employs close to 1,000 professionals.
Main AI News:
North Carolina-based software giant SAS is doubling down on its commitment to enhancing artificial intelligence (AI) capabilities by investing an additional $1 billion over the next three years. This significant infusion of funds will fuel the development of cutting-edge cloud-first, AI-powered advanced analytics solutions across various industries.
Led by CEO Jim Goodnight, SAS aims to deliver tailored AI solutions to sectors such as banking, insurance, government, healthcare, retail, manufacturing, and energy. The billion-dollar investment will primarily support research and development initiatives, industry-focused line-of-business teams, and targeted industry marketing campaigns.
The announcement of this substantial investment took place during the recent ‘SAS Innovate’ event held in Orlando. Goodnight emphasized the importance of industry-focused analytics in enabling resilient organizations to identify opportunities amidst challenges. He expressed SAS’s commitment to empowering companies with AI, machine learning, and advanced analytics to combat fraud, mitigate risks, and enhance customer and citizen experiences. Notably, a portion of the investment will be directed toward India, which has become a strategic hub for the company, according to Bryan Harris, SAS Executive VP and Chief Technical Officer.
SAS currently maintains a robust presence in India, employing nearly 1,000 professionals, with over 700 technologists based at the SAS R&D center in Pune. With a global R&D headcount of 3,500, SAS considers Pune its largest R&D facility outside of the United States.
Overall, SAS’s intensified investment in AI analytics underscores its unwavering dedication to innovation and its mission to empower organizations across diverse industries with cutting-edge solutions that harness the power of artificial intelligence.
Conclusion:
SAS’s substantial investment of $1 billion in AI analytics signifies its strong commitment to the market and its recognition of the growing importance of AI-powered solutions. With a focus on tailored industry solutions, SAS aims to empower organizations in sectors such as banking, insurance, government, healthcare, retail, manufacturing, and energy. This investment will drive innovation and enable companies to leverage AI, machine learning, and advanced analytics to combat fraud, manage risks, and enhance customer experiences.
Furthermore, SAS’s strategic focus on India highlights the country’s emergence as a key hub for technology and reinforces SAS’s dedication to leveraging local talent and expertise. The market can expect to witness advancements in AI analytics solutions and increased competitiveness as SAS continues to expand its offerings and strengthen its position in the industry.
