Thomas Kurian, CEO of Google Cloud, speaks at a cloud computing conference held by the company in 2019.
Google's cloud chief Thomas Kurian on Tuesday explained how the tech giant is already monetizing its various artificial intelligence services to generate revenue.
"We've made billions using AI already," said Kurian, speaking at the Goldman Sachs Communacopia and Technology Conference in San Francisco.
Kurian said that Google Cloud's backlog of customer demand is growing faster than its revenue.
"Our backlog is now at $106 billion — it is growing faster than our revenue," he said. "More than 50% of it will convert to revenue over the next two years."
During its most recent second quarter, Google parent Alphabet in July reported revenue of $13.62 billion for its cloud computing business, which was a 32% increase from the year prior. Alphabet's net income increased to $28.20 billion, up nearly 20% from the previous year. While Google's cloud unit lags Microsoft and Amazon's cloud units, it's growing faster than them.
Here's what Kurian said about how Google Cloud is monetizing AI: