CARY – SAS is expanding its efforts to develop artificial intelligence, the privately held software giant announcing late Sunday night that it will invest $1 billion in AI research and development over the next three years.

To give you an idea about the size of the AI commitment, SAS reports annual revenues of some $3 billion a year with $3.27 billion reported for 2018. That was the 43rd consecutive year for revenue growth, although just slightly more than in 2017.

SAS annually invests some 25 percent of its overall revenue in R&D.

As part of the investment, SAS will launch a Global Education Center deploying AI at its headquarters building in Cary.

AI graphic

A graphic from SAS explains the firm’s expansion of AI efforts.

The company already is a global leader in analytics but sees AI as a means of augmenting data already garnered from deep dives into trends and analysis with focus on machine learning, deep learning and natural language processing along with what it calls “computer vision.” SAS also sees AI as providing a significant boost to the emerging Internet of Things which links more and more devices to networks.

“At SAS, we remain dedicated to our customers and their success, and this investment is another example of that commitment,” said SAS CEO Jim Goodnight, who over four decades has become the richest many in North Carolina with a fortune estimated at several billion dollars after co-launching the company along with John Sall.

“With our innovative capabilities in AI, SAS helps businesses deter damaging fraud, fight deadly disease, better manage risk, provide exemplary service to customers and citizens, and much more.”

For example, in a recent survey conducted with Global Association of Risk Professionals found that that 81 percent of “risk professionals” in financial services have already seen benefits from utilizing AI.  More than 40 percent of participants also cited improvements in process automation, credit sorting and data preparation.

SAS said it will expand efforts to boost research and development as well as education and services focusing on AI.

The company says it will share more details about its expanded AI efforts when Chief Technology Officer and Chief Operating Officer Oliver Schabenberger delivers a keynote, “AI: Technology’s Inevitable Consequence,” at a conference on Tuesday in San Diego.

The SAS future: Talking opportunities, succession, new IoT division, blockchain, augmented reality, more with Goodnight’s No. 2

SAS already has several customers utilizing its AI services and partners with such firms as Accenture, Cisco, Deloitte, Intel and NVIDIA in AI development.

Chip maker NVIDIA is hosting the conference at which Schabenberger will speak.

SAS has nearly 14,000 employees. More than 5,000 of those are located in Cary.

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