Microsoft expects to spend $80bn on AI this fiscal year

NEW YORK – Microsoft president Brad Smith said the company is on track to pump about $80 billion into artificial intelligence (AI) this fiscal year.Smith contended AI is poised to transform all aspects of life, and it is imperative that the United States be the global leader when it comes to the technology, he wrote in an online post.”In many ways, artificial intelligence is the electricity of our age, and the next four years can build a foundation for America’s economic success for the next quarter century,” Smith said.”The United States is poised to stand at the forefront of this new…