USA – As the artificial intelligence (AI) market continues to expand at an unprecedented rate, NVIDIA is capitalizing on this momentum with the launch of its “AI Tech Community” initiative in Pittsburgh.
The initiative, starting Monday, aims to foster public-private partnerships that drive innovation and growth in AI, robotics, and health sciences.
This comes at a time when, according to Bain & Company’s latest report, the AI market is projected to grow to nearly US $1 trillion by 2027, driven by increasing demand for AI technologies and their wide-ranging applications across industries.
NVIDIA’s initiative includes the creation of two new technology centers in collaboration with Carnegie Mellon University (CMU) and the University of Pittsburgh (Pitt), positioning Pittsburgh as a leader in AI research and development.
AI market expected to reach US $1 trillion by 2027
The growing demand for AI has led to significant innovation and investment, with Bain & Company’s fifth annual Global Technology Report predicting that the AI market will surge between 40% to 55% annually.
By 2027, revenues from AI technologies could range from US$780 billion to $990 billion. The report emphasizes AI’s sweeping impact on industries, enterprise value, and business operations.
“The pace of technological change has never been faster, and senior executives are looking to understand how these disruptions will reshape the sector,” the report states.
Generative AI, in particular, is driving this wave of change, though it is accompanied by global shifts and a need to adapt business processes to fully capitalize on AI’s potential.
Bridging academia, industry, and public-sector innovation
NVIDIA’s new technology centers will act as hubs for AI-driven innovation, bridging the gap between academia, industry, and public-sector organizations.
The center at CMU will focus on advancing robotics, autonomy, and AI technologies, while Pitt’s center will target computational advancements in health sciences, including AI applications in clinical medicine and biomanufacturing.
“These centers will tap into NVIDIA’s full-stack AI platform and accelerated computing expertise to gear up tomorrow’s technology leaders for next-generation innovation,” NVIDIA stated in a recent blog post.
Pittsburgh’s transformation into a global AI Leader
As AI reshapes global industries, Pittsburgh is positioning itself as a future leader in AI research and job creation.
The AI Avenue Working Group, a consortium of industry, civic, and institutional leaders in Pittsburgh, is aligning local efforts with NVIDIA’s rapid rise in the AI space.
“Pittsburgh is at a pivotal moment, where AI is driving an economic transformation akin to a new industrial revolution,” said Joanna Doven, a strategy consultant with the AI Avenue Working Group.
“Together, we are positioning Pittsburgh not only as a global AI leader but also as a powerhouse for job creation, fostering thousands of new, high-quality jobs in the industries of tomorrow.”
Empowering next-generation AI innovation
The collaboration between NVIDIA and Pittsburgh’s leading universities will give CMU and Pitt access to NVIDIA’s latest AI hardware and software, including platforms like NVIDIA Isaac Lab for robotic learning and NVIDIA Omniverse for simulation.
These advanced tools will accelerate research and innovation in areas like robotics, generative AI, and health sciences.
Theresa Mayer, Vice President for Research at CMU, highlighted the potential impact of the collaboration: “Pairing Carnegie Mellon University’s existing deep expertise and resources in AI and robotics with NVIDIA’s cutting-edge platform, software, and tools has tremendous potential to power Pittsburgh’s already vibrant innovation ecosystem.”
At Pitt, the new tech center will focus on leveraging AI to transform computational development in health sciences. Rob Rutenbar, Senior Vice Chancellor for Research at Pitt, noted the university’s longstanding commitment to life sciences research.
“By focusing on computational and AI opportunities across these ‘meds and eds’ areas, we plan to leverage our collaboration with NVIDIA to explore new ways to connect these breakthroughs to improved health and education outcomes for everybody,” he said.
AI-driven economic and technological growth
In addition to the local impact, NVIDIA’s broader influence on the global AI market is undeniable. The company has seen a meteoric rise, with its market capitalization surpassing Microsoft’s in June, making it the second-largest company in the world behind Apple.
As businesses increasingly adopt AI technologies, cloud service providers and tech vendors are investing heavily in AI hardware and software, further driving the market’s growth.
With the new AI Tech Community initiative, NVIDIA is poised to play a key role in shaping the future of AI innovation.
