The #AIEye: Hewlett Packard (NYSE: $HPE) to Invest $500 Million in India Over Next 5 Years and Avnet (Nasdaq: $AVT) Announces Investment in Defendry
Global Conversational #AI Market to Reach $27.08 Billion by 2026
Point Roberts WA, Vancouver BC – July 25, 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:HPE) (NasdaqGS:AVT)
Hewlett Packard (NYSE:HPE) announced plans to invest $500 million in India over the next five years. According to the press release, the company plans to increase its workforce in India by 20 percent with the hiring of new engineering talent with expertise in areas of critical importance to customers such as AI and networking. Mr. Ravi Shankar Prasad, Union Minister for Law & Justice, Communication and Electronics & Information Technology, commented:
"It is a matter of great assurance that a global giant like Hewlett Packard Enterprise is making big investments in India both in manufacturing as well as research and development. This shows the rising confidence of global investors in India's rapidly growing electronics manufacturing sector and the success of Digital India."
Avnet, Inc. (NasdaqGS:AVT) has invested $2.1 million in surveillance platform Defendry. Defendry is powered by proprietary artificial intelligence (AI) designed to identify and stop physical threats before they enter a building. Bill Amelio, Avnet CEO, said:
“The Internet of Things and artificial intelligence have the power to solve many of society’s complex problems and make the world a safer place. We invested in Defendry because there is clearly a need for more advanced surveillance systems, and Defendry’s technology is making great strides in addressing real and serious safety challenges for institutions and businesses alike.”
Global Conversational AI Market to Reach $27.08 Billion by 2026
A report from Data Bridge Market Research finds that the global Conversational AI market will grow from $3.27 billion USD in 2018 to $27.08 billion USD in 2026 with a compound annual growth rate (CAGR) of 30.25 percent in the forecast period. An excerpt from the report description outlines the drivers and restraints in the market.
Conversational AI is the usage of messaging app, chatbots and other digital platform so that they can provide platform to the customers where they can interact with virtual assistant and can solve their problem. This also helps the organization to improve by finding new techniques to communicate with the customers. Increasing demand for AI- powered
customer support services is the factor which is fuelling the conversational AI market.
Market Drivers:
● Less development cost of the chatbot is driving the growth of this market
● Technological advancement and development in the conversational AI is another factor driving the market.
Market Restraints:
● Less information about the conversational AI is restraining the market
● Lack of efficiency in chatbot is another factor restraining the growth of this market.
Sam Mowers, Investorideas.com
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