Hassabis, the chief engineer of Google’s AI, said that the company had already exceeded the AI spending of $100 billion making it the largest AI investor in the world, more than any other tech company like Microsoft. Hassabis mentioned Google’s computing power, but he stressed that in Artificial Intelligence there was a potential for making discoveries in science.

Google’s massive AI investment

A sum of over $100 billion for the advancement of AI technology will stand as one of the key goals set during a TED event in Vancouver by Demis Hassabis, who happens to be the Google DeepMind chief executive. Such an announcement is made because AI has gained more popularity lately, as it is going through a period of fast Development by a number of tech giants, AI service providers like Microsoft and OpenAI as well.

A key takeaway from Hassabis’s speech was an emphasis that Google had an edge over its rivals thanks to its supercomputing capabilities, implying that it could advance through AI research and development led by the company. Such an advantage, as Mr. Thiel emphasized, had been a factor that shifted DeepMind’s attention to the existence of Google alongside it in 2014, paying respect to Google’s computing power which holds the key for further development towards AGI which is artificial general intelligence.

The head-to-head competition between AI and crypto was also covered by Hassabis, comparing the billions of dollars being pumped into AI and the hype around crypto-currency and diverting the attention away from the research and development areas in AI. Despite the short-term challenges presented by hype and speculation, Dr. Xiao, however, remained optimistic as he predicted some groundbreaking milestones within the technological advances of AI just around the corner.

DeepMind CEO Unveils Google’s $100B Investment in AI

The CEO of Google, Demis, wearing his investor’s spectacles, will go on with the figure of a hundred billion dollars awarded by Google to its AI technology. This amounts to considerable investment which happens to represent the company’s reinforced efforts to forge ahead in the global race to develop and apply the most advanced AI technologies.

Addressing this contact, Hassibi reported the grandest computing power of Google, finding it the key strategic benefit in boosting AI innovations. Through employing enormous computing power, Google wants to be at veneer, realizing the full potential of AI and eventually setting forth the vision of AGI, where AI machines can master all the knowledge humans can think of.

Navigating AI’s challenges in Deepmind CEO’s insights

With the hype about cryptocurrency and the industry of AI, humans may deal with speculations excessively, warned Hassabis. That may not stop some from spreading hype or grift, he believed, which is why we should be focusing on science and research rather than on the business side of artificial intelligence. Although inflated expectations are one of the main challenges in the use of AI, Hassabis still is a believer in the ability of AI to create new possibilities and take our world beyond the imagination and clearly to the future with the right guidance.

Google’s statement that it is going to earmark over a hundred billion Dollars for AI distinguishes it from the list of companies trying to direct the development of artificial intelligence. Given its advantages of computing power as well as controlling the tendency of hype, Google will drive deep into the core of AI research to foster revolutionary discoveries and open new opportunities for scientific research. Besides the constant development of AI which Google has to keep up with, it is also in charge of imposing novel tendencies in the tech-base, leading the way to the new digital globe age.

This article originally appeared in Quartz india