Artificial Intelligence Lab From Facebook Inc. (NASDAQ:FB)
Facebook Inc. (NASDAQ:FB) leads the social media platform on World Wide Web with over 1 billion active users and its arch rival Twitter Inc. (NYSE:TWTR) is not even one third of its size in terms of number of users. However Twitter Inc. has surpassed Facebook Inc. as far stock prices are concerned if one refers to Monday’s closing prices for both these stocks.
While Facebook Inc. (NASDAQ:FB)’s stock gained 1.88% and closed at $48.84, Twitter Inc. (NYSE:TWTR)’s stock soared 9.32% to close at $49.14. With these gains Twitter’s stock has become probably the most expensive internet stock trading at 25x projected revenue for 2014.
While Twitter has yet to debut with profit, Facebook is strengthening its position with novel initiatives including that of artificial intelligence lab.
The Latest Hiring
Facebook Inc. (NASDAQ:FB) on Monday announced the hiring of Yann LeCun, a New York University professor who has a long history inventing computers that can think. In addition LeCun will also coordinate partnership between Facebook and New York University’s Center for Data Science. In this new role, professor LeCun run Facebook’s new artificial intelligence lab announced in September and will also teach part time.
Mark Zuckerberg, Facebook Inc. (NASDAQ:FB)’s Chief Executive Officer and Michael Schroepfer, Facebook’s Chief Technology Officer attended a deep learning conference on Monday, at Tahoe and there they announced the hiring of professor Yann LeCun. As a reminder, the next generation of artificial intelligence is referred to as deep learning.
The Personal Credentials
Among the next generation inventions, professor LeCun’s handwriting recognition technology has been widely deployed in banking sector across the globe. Recently professor LeCun also piloted the innovation that will allow computers to teach themselves through a novel concept of ‘unsupervised learning’. The later has been piloted along with Geoffrey Hinton from University of Toronto.
It is not only Facebook Inc. (NASDAQ:FB) that has been trying its hands on this next generation innovations but also Google Inc. (NASDAQ:GOOG) with its new Quantum AI Lab and Yahoo! Inc. (NASDAQ:YHOO) with its recent acquisition of a startup firm LookFlow, among others.