Artificial intelligence company sees 21st century breakthroughs

C3 IoT, an artificial intelligence (AI) and internet of things company, is looking to transform agriculture, aircraft maintenance and manufacturing processes.

“New breakthroughs in information technology in the area of predictive analytics should dramatically change the way people deal with customers, the way they manufacture products, the way they deliver services,” C3 IoT founder and CEO Tom Siebel said Monday during an interview with Liz Claman on FOX Business.

C3 IoT has partnered with Microsoft to deliver new technology developments and deploy AI-based applications in inventory management and healthcare.

“We can take healthcare data and genomic data and dramatically increase efficiency of basically precision medicine, lower the cost of medicine, decrease disease,” Siebel said on “Countdown to the Closing Bell.”

C3 IoT delivers a platform for big data, AI, machine learning. It is ranked as the top 100 company leading the way in AI by Forbes.

Chinese companies are reportedly applying for AI patents at six times the rate of U.S. businesses.

“They’re moving forward very quickly,” Siebel said. “But AI basically promises the ability to solve a class of problems that were unsolvable, generally in the area of predictive analytics.”

As the field of artificial intelligence keeps growing, the C3 IoT CEO said, the elimination of jobs, privacy issues and especially cybersecurity are areas that will require closer attention.

“As a government, as an industry, we’re not focused enough on cybersecurity,” Siebel said. “This is critically important. “If we don’t address it, we will be sorry.”