The #AIEye: Oracle (NYSE: $ORCL) Introduces New Vision for Analytics Platform, Accenture (NYSE: $ACN) Federal Services Wins #AI Contract with U.S. Dept. of Health and Human Services and Nuance (Nasdaq: $NUAN) Signs Partnership with AI Institute Mila
Intelligent Virtual Assistant Market to Hit $11.3 Billion Globally by 2024
Point Roberts WA, Vancouver BC – June 26, 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: (NYSE:ORCL) (NYSE:ACN) (NasdaqGS:NUAN)
Oracle Corporation (NYSE:ORCL) introduced a new customer-centric vision for its Oracle Analytics platform powered by the company’s Autonomous Data Warehouse and machine learning. According to the press release Oracle Analytics “empowers customers with industry-leading AI-powered self-service analytic capabilities for data preparation, visualization, enterprise reporting, augmented analysis, and natural language processing (NLP)”. T.K. Anand, senior vice president, AI, Data Analytics and Cloud, Oracle, said:
"We are committed to helping our customers get the most value from their data and to delivering the best analytics experience. Today, we are announcing a new vision, product experience, and commitment to customer success that will enable us to collaborate with our entire ecosystem and deliver a new era of enterprise analytics."
Accenture Federal Services (AFS), a wholly-owned subsidiary of Accenture (NYSE:ACN), has won a contract from the U.S. Department of Health and Human Services (HHS) Program Support Center (PSC) to provide the latter with intelligent automation / artificial intelligence (IAAI) services. This will include the piloting, testing and implementation of AI, machine learning, natural language processing and robotic process automation technologies. Greg Adler, who leads Accenture Federal Services’ (AFS) work across Health and Human Services, commented:
“AFS draws upon Accenture’s vast commercial experience in AI and health to identify and implement new capabilities that support the Departments’ goals to fundamentally transform, enhance and deliver public sector healthcare.”
Nuance Communications, Inc. (NasdaqGS:NUAN) has signed a partnership with Montreal AI academic research institute Mila to collaborate on machine learning research and enhance AI applications. Joe Petro, Chief Technology Officer, Nuance Communications, said:
“We are excited to enter into this strategic partnership with Mila. Our research team has been at the forefront of Conversational AI innovation for the last 20 years and this partnership allows us to work more closely with the global academic AI research community to advance the latest in AI innovation and applications.”
Intelligent Virtual Assistant Market to Hit $11.3 Billion Globally by 2024
A report from Research and Markets finds that the global intelligent virtual assistant market will grow from $2.2 billion in 2018 to $11.3 billion in 2024 with a compound annual growth rate (CAGR) of 31 percent in the forecast period 2019-2024. Intelligent virtual assistants are described as “a system with artificial intelligence (AI) which imitates human interaction in order to carry out particular tasks”. An excerpt from the report description outlines key growth factors in the market:
The growth of the global intelligent virtual assistant market is being primarily driven by the penetration of smartphones along with a rapid growth in the social media traffic which has led to a substantial rise in the consumer awareness about benefits offered by intelligent virtual assistants. Additionally, a significant shift from analogue to digital technologies in organisations across the globe is propelling the demand for intelligent virtual assistants. Apart from this, a high demand for automation in services that offer customer support is another factor which is driving the growth of the market. Moreover, rising usage by young generation coupled with improved consumer experience are some of the other factors which are positively influencing the market growth.
Sam Mowers, Investorideas.com
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