Dive Brief:

• Amazon, DeepMind/Google, Facebook, IBM and Microsoft announced they will create a nonprofit dedicated to increasing public understanding of artificial intelligence technologies (AI), according to a news release.
• The group, which will be called the Partnership on AI, will also include academics, other nonprofits and specialists in policy and ethics. The founding members will contribute financial and research resources to the partnership.
• The organization’s members will conduct research, recommend best practices, and publish research, according to the press release.

Dive Insight:

The world’s largest technology companies have some of the biggest troves of data, which is key to AI success, so they are in a great position to move AI forward. The progress they make holds great promise for other businesses to tap the potential of AI in the future.

Earlier this month, a Tractica report predicted AI will eventually touch virtually every industry. Business services, advertising and media & entertainment will be among the top 10 industry sectors for enterprise AI adoption and use, according to the report. Overall, Tractica estimated revenue for enterprise AI applications will explode, from $358 million this year to $31.2 billion by 2025.