The #AIEye: AWS (Nasdaq: $AMZN) Announces Infrastructure Region in Spain and MIT-IBM (NYSE: $IBM) #Watson Lab Research Reveals Impact of #AI Adoption on Jobs
AI in Healthcare to Reach $1.139 Billion by 2022
Point Roberts WA, Vancouver BC – November 1, 2019 – Investorideas.com (www.investorideas.com), a global investor news source covering Artificial Intelligence (AI) brings you today’s edition of The AI Eye- watching stock news, deal tracker and advancements in artificial intelligence.
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Today’s Column- The AI Eye- Watching stock news, deal tracker and advancements in artificial intelligence
Stocks discussed: (NasdaqGS:AMZN) (NYSE:IBM)
Amazon Web Services (AWS), a subsidiary of Amazon (NasdaqGS:AMZN), has announced the opening of an infrastructure region in Spain featuring three Availability Zones at launch. It will give Spanish startups, enterprises, and the public sector the ability to “leverage advanced technologies including analytics, artificial Intelligence, database, Internet of Things (IoT), machine learning, mobile services, serverless, and more to drive innovation”. Peter DeSantis, Vice President of Global Infrastructure and Customer Support, Amazon Web Services, commented:
“Cloud computing is already powering innovation within businesses, educational institutions, public administrations, and government agencies across Spain, and with this AWS infrastructure region, we look forward to helping accelerate this transformation. Opening an AWS Region in Spain will drive more technology jobs and businesses, boosting the local economy, while enabling organizations across all industries to lower costs, increase security, and improve agility. We’re excited to have AWS contribute to the future growth of Spain.”
IBM (NYSE:IBM) has released research from the MIT-IBM Watson AI Lab – which is described as “a collaborative industrial-academic laboratory focused on advancing fundamental AI research” – finding that AI will change the job landscape, but won’t actually eliminate many jobs. Martin Fleming, vice president and chief economist of IBM, commented:
"As new technologies continue to scale within businesses and across industries, it is our responsibility as innovators to understand not only the business process implications, but also the societal impact. To that end, this empirical research from the MIT-IBM Watson AI Lab sheds new light on how tasks are reorganizing between people and machines as a result of AI and new technologies."
The research finds that low-wage and high-wage occupations are actually experiencing increases in earnings as AI adoption progresses, whereas mid-wage jobs are the ones being “squeezed”.
AI in Healthcare to Reach $1.139 Billion by 2022
A report from Trends Market Research finds that the global AI in Healthcare market will reach $1.139 billion by 2022 with a compound annual growth rate (CAGR) of 62.2 percent in the forecast period 2016-2022. The following excerpt from the report description outlines the technology associated with the market:
The AI technology is leading towards innovation of efficient and inexpensive healthcare solutions. The major technologies involved are natural language processing, machine learning, biometric security, speech recognition and disaster recovery. The technology providers are heading towards development of innovative products and solutions for end-users. At present, NLP market is having the major share with an estimated increase to $487.7 million by 2022 growing at a CAGR of 61.6%. The increase in adoption of cloud computing, internet and innovation in network connectivity is driving the adoption of NLP in healthcare sector. Besides, NLP the second most prominent technology in healthcare is machine learning which is expected to reach $223.7 million by 2022, growing at a CAGR of 61.9%. Based on end users, the market encapsulates diagnostic centres, hospitals and clinics, R&D and healthcare institutes. AI finds wide application in precision medicine, real- time monitoring, drug development and personal health assistants.
Sam Mowers, Investorideas.com
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