Nvidia chief executive Jensen Huang said every business will one day use artificial intelligence at its core. He spoke at an event in Stockholm, Sweden, late on Thursday.
Huang leads the company that makes many of the chips used to run AI systems. He used the visit to urge Europe to grow its own AI industry.
“Every single company will be an AI company eventually. Every single industry will be impacted by AI,” Huang told the event, according to IOL.
The Stockholm stop is part of a European tour. The tour includes a conference hosted by Nvidia in Berlin next week.
“The important thing for us is to recognise that Europe needs to build out the entire stack,” Huang said. He meant the whole chain of AI technology, from data centres to chatbots and other apps.
Speaking later to the news agency AFP, Huang said Nvidia had invested $8 billion in Europe over the past year.
He named two of the companies Nvidia has backed. They are Nscale, a British data centre and AI cloud provider, and Nebius, a Dutch cloud provider.
“In the last one year, we’ve invested $8 billion already. We have another couple of billion dollars in the pipeline,” he said. “We’re helping Europe create the AI ecosystem.”
Huang was in Stockholm for the launch of Sferical One. It is a Swedish supercomputer that runs on Nvidia chips. It is meant to keep sensitive Swedish data and skills inside the country.
During the same visit, Volvo Cars said it would expand its partnership with Nvidia. The carmaker wants to improve safety technology in its planned self-driving cars.
On Friday, US Federal Reserve head Kevin Warsh also spoke about AI. He called it the “most consequential change” to the world economy he had seen.
“I’d say the advent of this new technology is probably the most consequential change to the US and the global economy in my lifetime,” Warsh said. He was speaking at the IMF and World Bank Annual Meetings in Bangkok.
Warsh said the rush of AI investment would push prices up in the short term. He said he still saw “a huge benefit to the global economy, to the US economy over the horizon”.
He said he expected the Fed to use AI to study data better when it sets interest rate policy. He also said the technology would make countries that use it well more productive.
Warsh warned that the road ahead was still uncertain. “The path from where we are to there is likely to be a very bumpy one,” he said, adding that nobody yet knows how markets for these technologies will be structured.
Source: this article is based on reporting by IOL Technology. Image: IOL Technology. Written with the help of AI and published by the Tzaneen Voice Technology desk. See our Editorial Standards.
Werner Jacobs covers technology for Tzaneen Voice. Werner reports on mobile networks, data prices, internet access, smartphones, apps, AI, cybersecurity and South African tech companies. Each story explains what a new product, price change or policy means for ordinary users in South Africa.