Google shares gain amid AI development success, Velostrata purchase

Google shares closed higher Wednesday as the tech giant's I/O developer conference proves positive for the business.

Google shares gain amid AI development success, Velostrata purchase

Google shares closed higher in the US Wednesday as the tech giant’s developer conference hosts a variety of news and positive developments from Sundar Pichai’s company. And, while advancements in AI have stolen the show, Google has also announced plans to buy cloud business, Velostrata.

Google shares closed higher in the US Wednesday, at $1088.95. The stock is also higher in pre-market activity.

Google’s DeepMind AI success

Google has shared a number of AI-related details over its three day I/O conference which will end Thursday. Among them are improved functions for its Google Home device.

However, it’s unlikely much of its AI tech would have been possible without all the hard work that goes on at its AI specialist facility, DeepMind.

Indeed, DeepMind researchers have created an AI program that beats human experts at maze games. By improving upon the grid cells that are used in its AI programme – they form part of the human brain – the DeepMind programme found its way through unfamiliar territory more quickly than humans.

“It is doing the kinds of things that animals do and that is to take direct routes wherever possible and shortcuts when they are available,” said Dharshan Kumaran, a senior researcher at DeepMind. “With the grid cells, its performance is markedly enhanced to the point that it surpasses an expert human player.”

Looking further ahead, Google is confident its AI capabilities can help push boundaries across a variety of industries, including in healthcare.

“We’ve also found that our AI models are able to predict medical events, such as hospital readmissions and length of stays, by analysing the pieces of information embedded in de-identified health records,” Pichai said.

“These are powerful tools in a doctor’s hands and could have a profound impact on health outcomes for patients,” he added.

Google to buy Israel-based cloud business

Google has also announced it will purchase Israel-based cloud migration business, Velostrata.

With more work done on the go than ever before, improved cloud migration tech will benefit many of our existing customers and help them move their data to different locations more easily and without risking the security of that information.

“Businesses can simplify their onboarding process to Google Cloud Platform, and easily migrate workloads to Google Compute Engine,” said Vice President of engineering at Google Cloud, Eyal Manor.

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