Artificial Intelligence Trends in Focus at William Blair Client Gathering in New York

Tuesday, November 5, 2019

The field of artificial intelligence has progressed more in the past couple of years than in the previous decade and there is no doubt that AI applications will continue evolving at a lightening pace, William Blair equity analyst Bhavan Suri said at a special client event in New York City on October 24.

Suri tied the accelerating pace of change to the explosion in global data, declining costs in cloud computing resources, and advances in computer hardware.

“Firms are capturing ever-increasing amounts of information about their customers and operations as they implement more transactional systems,” said Suri, citing databases that manage corporate and financial transactions, customer relationship management, and back-office functions related to business services from internal HR to transportation and shipping.

Suri, who is the co-group head of William Blair’s technology sector, gave several examples of how scientists and companies are applying AI now in ways that are changing how the world works.

In healthcare, he said, AI tools allow scientists to screen millions of chemical compounds daily, speeding up the time to create live-saving drugs. Agriculture companies such as AquaSpy, Ceres and Conservis use AI to help farmers implement more precise planting and crop management. Within the transportation sector, Lyft, Aptiv, Daimler, Volvo and others are using AI to bring self-driving vehicles to market.

For consumers and businesses, AI tools are becoming more sophisticated and powerful, Suri said. Google, Spark Cognition, C3 and others are now offering advanced AI software applications to customers on stand-alone platforms.

“Since the broad array of AI technologies can be used in many different applications and industries, we expect it to ultimately take the form of both a feature in enterprise software applications and as stand-alone products,” Suri told clients.

William Blair’s private wealth management group in New York City hosted the event. The NYC office has expanded in recent years in line with additions to wealth teams in Chicago, Atlanta, Boston, Baltimore and San Francisco.

The firm’s growth in wealth management has been built on client relationships and the research of William Blair’s award-winning analysts who follow more than 600 quality growth companies.

News Alerts

Stay connected to your favorite publications and news features.

Subscribe Now