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Google I/O 2017 Turns into a Show of Technological Prowess
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Alphabet Inc.’s (GOOGL - Free Report) Google wrapped up its annual I/O developers conference, giving clear indications of a transition from “Mobile-first” to “AI-First” and that it is taking on competition with increased seriousness.
We have covered some of the major announcements to give you an indication of where the company is headed.
Artificial Intelligence (AI) Steals the Limelight
With AI and machine learning dominating the announcements, it appears that Google is banking on these for much of its future growth.
Google Assistant was first announced at I/O 2016 and today it has a slew of new features. It is now equipped with computer-vision technology called Google Lens that can analyze anything the phone’s camera is seeing and reveal relevant information.
Google is expanding Assistant to iOS, offering almost the same functions as on Android. The company will also be launching assistant in new languages and an Assistant developer kit for third parties.
With Google Home, Google became the second entrant in the Home Assistant space after Amazon (AMZN - Free Report) . Amazon leads the space with its Echo device, but Google still has enough scope. The Google Assistant powered Home can personalize user’s experience probably more completely (when linked to user’s Google profile) and also help search for pretty much everything under the sun.
In the coming months, Google Home will be able to make hands-free calls to any phone in the U.S. and Canada. This way it will have an edge over Amazon Echo that can make calls to Echo users only. The device will feature a new skill called “proactive assistance”, with which it will notify users of upcoming traffic, meetings, and other related stuff based on their schedule.
In addition Home will now connect to a user’s phone or a Chromecast streaming device to reveal the required information. It will control Hulu, SoundCloud, HBO Now, Deezer, and more. Users will now have access to Home’s Bluetooth radio.
With the kind of advantages Google is pushing to Home, it appears that it has already cracked the code on how to answer all those Amazon Echo offers.
We believe Alphabet’s continuous focus on innovation and its technological prowess are contributing significantly toward driving up its shares. The stock has rallied 20.5% compared with the Zacks Internet-Services industry’s gain of 16.8% on a year-to-date basis.
The company announced that the upcoming virtual reality (VR) headsets from its partners including Lenovo and HTC will be standalone and therefore will not need a smartphone. Google has built a reference design in partnership with Qualcomm.
There were speculations that Google will merge Tango with Daydream. The company stated that its Tango powered “WorldSense” technology will track user’s location in the virtual space. This could give Google competitive advantage over Facebook and Microsoft (MSFT - Free Report) who are also working on similar technologies.
Google’s Photos app now has a host of new features. The app’s new AI-based feature called Suggested Sharing can recommend users to share a photo with people who are part of it. The Shared Library feature allows users to effortlessly add images to a central collection.
Google has also added the option of digital photo book creation. Users can get softcopies mailed for $9.99 while the hardcopy costs $19.99. Google stated that in the future, the app will remove unwanted items from photos.
Google is adding the AI based Smart Reply feature to Gmail. It will suggest responses (three) to mails received based on typing style and habit. As it is based on machine learning, it gets better with usage.
Google for Jobs will now use Google’s search technology and machine learning to collect, categorize and sort job postings from the web.
This year’s I/O has seen Google improving on developer centrism. Instead of big-bang product announcements to impress customers and the press, Google has opted to be more informative for developers and help them better understand its technological improvements.
Google released the first beta version of Android O. Users can download it on a compatible smartphone. Expected updates to Google’s latest Android version are picture-in-picture video, new emoji, security enhancements, auto-fill logins and passwords, more AI capabilities and more battery life.
Google is set to roll out a new version of Android called Android Go especially designed to be compatible with smartphones with 1GB of memory or less. The operating system will feature YouTube Go to allow users save videos and watch or share them offline.
This will particularly enable developers and hardware manufacturers develop low-priced phones without compromising on the quality of user experience.
On the Hardware Front
The company introduced the second generation of its tensor processor units (TPUs) for its prospering cloud service business.
TPU chips facilitate fast and efficient building of AI on Google’s platform. CEO Sundar Pichai stated that TPU and the TensorFlow platforms are now optimized to work together, which indicates that Google’s cloud computing platform is being converted to Android for AI. This could easily give Google an edge over competitors.
Android Crosses 2 Billion Monthly Active Users
Google has taken the mobile market transition in its stride. Pichai stated that the figure of monthly active Android Devices has surpassed 2 billion. This includes any device that runs on Android including smartphones, tablets, Android TVs, and Android Wear devices.
To Conclude
Google’s speed and scale of technological improvements clearly indicate that it refuses to rest on its past laurels and continues to adapt to changing market trends. Google’s innovations outside the core search business include healthcare, voice-controlled platforms, self-driving cars, cloud computing and drones, all being driven significantly by machine learning.
We believe Google is just starting to scratch the surface of what it could do with AI.
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
Image: Bigstock
Google I/O 2017 Turns into a Show of Technological Prowess
Alphabet Inc.’s (GOOGL - Free Report) Google wrapped up its annual I/O developers conference, giving clear indications of a transition from “Mobile-first” to “AI-First” and that it is taking on competition with increased seriousness.
We have covered some of the major announcements to give you an indication of where the company is headed.
Artificial Intelligence (AI) Steals the Limelight
With AI and machine learning dominating the announcements, it appears that Google is banking on these for much of its future growth.
Google Assistant was first announced at I/O 2016 and today it has a slew of new features. It is now equipped with computer-vision technology called Google Lens that can analyze anything the phone’s camera is seeing and reveal relevant information.
Google is expanding Assistant to iOS, offering almost the same functions as on Android. The company will also be launching assistant in new languages and an Assistant developer kit for third parties.
With Google Home, Google became the second entrant in the Home Assistant space after Amazon (AMZN - Free Report) . Amazon leads the space with its Echo device, but Google still has enough scope. The Google Assistant powered Home can personalize user’s experience probably more completely (when linked to user’s Google profile) and also help search for pretty much everything under the sun.
In the coming months, Google Home will be able to make hands-free calls to any phone in the U.S. and Canada. This way it will have an edge over Amazon Echo that can make calls to Echo users only. The device will feature a new skill called “proactive assistance”, with which it will notify users of upcoming traffic, meetings, and other related stuff based on their schedule.
In addition Home will now connect to a user’s phone or a Chromecast streaming device to reveal the required information. It will control Hulu, SoundCloud, HBO Now, Deezer, and more. Users will now have access to Home’s Bluetooth radio.
With the kind of advantages Google is pushing to Home, it appears that it has already cracked the code on how to answer all those Amazon Echo offers.
We believe Alphabet’s continuous focus on innovation and its technological prowess are contributing significantly toward driving up its shares. The stock has rallied 20.5% compared with the Zacks Internet-Services industry’s gain of 16.8% on a year-to-date basis.
The company announced that the upcoming virtual reality (VR) headsets from its partners including Lenovo and HTC will be standalone and therefore will not need a smartphone. Google has built a reference design in partnership with Qualcomm.
There were speculations that Google will merge Tango with Daydream. The company stated that its Tango powered “WorldSense” technology will track user’s location in the virtual space. This could give Google competitive advantage over Facebook and Microsoft (MSFT - Free Report) who are also working on similar technologies.
Google’s Photos app now has a host of new features. The app’s new AI-based feature called Suggested Sharing can recommend users to share a photo with people who are part of it. The Shared Library feature allows users to effortlessly add images to a central collection.
Google has also added the option of digital photo book creation. Users can get softcopies mailed for $9.99 while the hardcopy costs $19.99. Google stated that in the future, the app will remove unwanted items from photos.
Google is adding the AI based Smart Reply feature to Gmail. It will suggest responses (three) to mails received based on typing style and habit. As it is based on machine learning, it gets better with usage.
Google for Jobs will now use Google’s search technology and machine learning to collect, categorize and sort job postings from the web.
Alphabet Inc. Net Income (TTM)
Alphabet Inc. Net Income (TTM) | Alphabet Inc. Quote
A More Developer Focused I/O 2017
This year’s I/O has seen Google improving on developer centrism. Instead of big-bang product announcements to impress customers and the press, Google has opted to be more informative for developers and help them better understand its technological improvements.
Google released the first beta version of Android O. Users can download it on a compatible smartphone. Expected updates to Google’s latest Android version are picture-in-picture video, new emoji, security enhancements, auto-fill logins and passwords, more AI capabilities and more battery life.
Google is set to roll out a new version of Android called Android Go especially designed to be compatible with smartphones with 1GB of memory or less. The operating system will feature YouTube Go to allow users save videos and watch or share them offline.
This will particularly enable developers and hardware manufacturers develop low-priced phones without compromising on the quality of user experience.
On the Hardware Front
The company introduced the second generation of its tensor processor units (TPUs) for its prospering cloud service business.
TPU chips facilitate fast and efficient building of AI on Google’s platform. CEO Sundar Pichai stated that TPU and the TensorFlow platforms are now optimized to work together, which indicates that Google’s cloud computing platform is being converted to Android for AI. This could easily give Google an edge over competitors.
Android Crosses 2 Billion Monthly Active Users
Google has taken the mobile market transition in its stride. Pichai stated that the figure of monthly active Android Devices has surpassed 2 billion. This includes any device that runs on Android including smartphones, tablets, Android TVs, and Android Wear devices.
To Conclude
Google’s speed and scale of technological improvements clearly indicate that it refuses to rest on its past laurels and continues to adapt to changing market trends. Google’s innovations outside the core search business include healthcare, voice-controlled platforms, self-driving cars, cloud computing and drones, all being driven significantly by machine learning.
We believe Google is just starting to scratch the surface of what it could do with AI.
Currently, Alphabet sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
One has driven from 0 to a $68 billion valuation in 8 years. Four others are a little less obvious but already show jaw-dropping growth. Download this IPO Watch List today for free >>