The #AIEye: NICE (NASDAQ: $NICE) Actimize Launches CDD-X and Nuance (NASDAQ: $NUAN) Partners with MG Motor- Implements Conversational #AI in Internet-Enabled Car
Edge AI Hardware Market to See 20.64% CAGR from 2019 to 2024
Point Roberts WA, Vancouver BC – April 15, 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
NICE Actimize, a subsidiary of NICE Ltd. (NasdaqGS:NICE), has announced the launch of CDD-X, a Know Your Customer/Customer Due Diligence (KYC/CDD) solution. CDD-X leverages the power of artificial intelligence and machine learning to provide more accurate detection and customer risk scoring to reduce compliance risk. Craig Costigan, CEO, NICE Actimize, said:
“NICE Actimize’s CDD-X is a game changer, helping organizations bring relief to what is currently a massive spend, while improving accuracy when assessing customer risk. A robust AML program starts with a strong KYC/CDD process. Regulatory agencies across the globe are encouraging financial institutions to explore technology innovations incorporating AI and machine learning to improve their compliance programs, and CDD-X is a good place to start in any journey to stronger, more cost-effective AML compliance.”
Nuance Communications, Inc. (NasdaqGS:NUAN) has partnered with MG Motor to bring the former’s conversational AI-powered mobility assistant to the latter’s vehicles. This will start with MG’s internet-enabled car Hector, which features the iSMART Next Gen connected mobility platform, allowing drivers to control their car using their voice. Rajeev Chaba, President & Managing Director, MG Motor India, commented:
“The MG Hector is the first of its kind in India and will be one of the leaders in a new era of connected cars across the globe. As we work to build a seamless, future-forward experience for MG drivers and passengers, an AI-powered, voice-enabled assistant solution is critical. With their expertise in AI-powered voice solutions, we are proud to have Nuance as our strategic partner.”
Edge AI Hardware Market to See 20.64% CAGR from 2019 to 2024
Research from Report Linker finds that the Edge AI hardware market is projected to see shipments of 610 million units in 2019, which will then grow to 1559.3 million units by 2024 with a compound annual growth rate (CAGR) of 20.64 percent in that forecast period. An excerpt from the report summary reads:
Major drivers for the market’s growth are growing demand for low latency and real-time processing on edge devices and emergence of AI coprocessors for edge computing. Further, underlying opportunities for the edge AI hardware market include growing demand for edge computing in IoT and dedicated AI processors for on-device image analytics. Major restraints for the market are limited on-device training and limited number of AI experts. Power consumption and size constraint pose major challenges to the edge AI hardware market.
Sam Mowers, Investorideas.com
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