Technology giant Qualcomm Inc (NASDAQ:QCOM) is one of several companies gaining attention for their advancements in artificial intelligence growth being seen worldwide. Here’s a look at what Qualcomm is doing to grow with artificial intelligence with Benzinga’s exclusive interview with their head of AI.
What Happened: Semiconductor stocks have seen valuations increase in 2023 with demand for artificial intelligence use cases increasing.
Qualcomm Senior Vice President and Head of AI Ziad Asghar shared with Benzinga some of the areas the company is most excited about.
“It’s an amazing opportunity for Qualcomm in terms of what we can do,” Asghar said of generative artificial intelligence. “This is a great opportunity for the whole industry.”
Calling the AI revolution a “transformational moment” for the industry, Asghar said that Qualcomm has a scale far greater than anybody else in the field.
“We are able to do these experiences far better and on more product lines than anybody else I know out there.”
Asghar added that there are two billion devices in the world with Qualcomm chips.
“The scale that Qualcomm brings is just amazing.”
Qualcomm is putting a lot of emphasis on incorporating AI straight into mobile devices, a key initiative for the company currently. This will lead to more use cases directly on the device, which could create a quicker and more secure experience for users.
Using a combination of generative AI and hybrid AI, Qualcomm believes it has the best user experience for the future.
“That sets us apart in a huge way. We do these models entirely on the device.”
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Related Link: Exclusive: Why Automakers Are Turning To Qualcomm For The Digital Transformation
What’s Next: Hear more on what Qualcomm is doing in the field of artificial intelligence during Benzinga’s exclusive interview with Asghar.
The interview will include a discussion on generative AI, hybrid AI, how Qualcomm is different from its competition, and how the automotive industry is already using artificial intelligence.
Asghar also discusses the $1 trillion opportunity of AI and what it could mean for Qualcomm’s financials.
A recently announced collaboration with Microsoft Corporation (NASDAQ:MSFT) is also a topic of conversation, and how the biggest companies are working with Qualcomm.
Benzinga’s exclusive interview airs at 9 a.m. ET on Monday, June 12. Click the link below to follow the AI story.
QCOM Price Action: Qualcomm shares are up 11.1% year-to-date and closed at $119.11 on Friday.
Read Next: Qualcomm To Acquire Auto Chipmaker Autotalks For Undisclosed Terms
Photo: Qualcomm and Shutterstock
