The #AIEye: Accenture (NYSE: $ACN) to Acquire Analytics8, Wipro (NYSE: $WIT) Launches 3 Intel-(Nasdaq: $INTC) Powered #AI Solutions and Veritone (Nasdaq: $VERI) Announces Agreement with ART19
Global #AI in Retail Market to Reach $4.4 Billion USD by 2024
Point Roberts WA, Vancouver BC – August 16, 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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Read this in full at https://www.investorideas.com/news/2019/artificial-intelligence/08162AIEye-ACN-INTC-VERI.asp
Today’s Column- The AI Eye- Watching stock news, deal tracker and advancements in artificial intelligence
Stocks discussed: (NYSE:ACN) (NYSE:WIT) (NasdaqGS:INTC) (NasdaqGM:VERI)
Accenture (NYSE:ACN) has entered an agreement to acquire Australian big data and analytics consultancy Analytics8. According to the press release, “Analytics8 provides data and analytics solutions to some of Australia’s largest organisations”. Amit Bansal, a managing director at Accenture who leads its analytics and artificial intelligence business in Australia and New Zealand, commented:
“In this data-driven age, organisations are increasingly seeking to harness the power of their information for competitive advantage and to identify opportunities for revenue growth and cost reduction. Together we will offer a unique, AI-based approach to help clients combine data, analytics and automation at scale.”
Wipro Limited (NYSE:WIT) has launched three edge AI starter solutions powered by Intel (NasdaqGS:INTC) Xeon Scalable processors. These include:
Pipe Sleuth: an automated anomaly detection solution designed to eliminate the need for manual review and coding of video scans of utilities pipeline infrastructure.
Surface Crack Detection: which uses AI to detect and label cracks in infrastructure like buildings, roads, pavement, and bridges.
Medical Imaging: which uses AI to identify regions of interest and label abnormalities in medical X-Rays and CT scans.
Veritone, Inc. (NasdaqGM:VERI) has announced an agreement with podcast hosting platform ART19. According to the press release, the latter will leverage Veritone’s aiWARE “to run cognitive analysis and topical extraction on publisher podcasts that are part of ART19’s targeted ad sales platform, making it possible for ART19’s advertising partners to target ads based on the content of an individual podcast episode”. Lex Friedman, chief revenue officer at ART19, commented:
“ART19 knows podcast advertising works. And advertisers know that ads can be incredibly successful if they’re reaching the right listeners at the right time. By adding aiWARE to our platform, we’re empowering buyers to target ads to consumers based on the content of the episode they’re listening to. Listeners appreciate contextual and relevant ads — and that means they pay more attention to them.”
Global AI in Retail Market to Reach $4.4 Billion USD by 2024
A report from VynZ Research finds that the global AI in Retail market will grow to $4.4 billion USD by 2024 with a compound annual growth rate (CAGR) of 35.5 percent in the forecast period 2019-2024. An excerpt from the report description outlines the market drivers:
Global AI in retail market has been driven by several key factors, predominantly increasing adoption of AI solution by e-commerce companies, growing investments by retail companies in AI technology, and growing mobile internet penetration.
The utilization of AI in retail, traverses each part of the business. Regardless of whether the objective is to upgrade the store network, utilize existing information to build change, or tweak shopping encounters with prescient displaying and smaller scale focusing on or estimating, AI can help address these difficulties in the retail space.
Expanding selection of AI innovation among retailers for multi-channel showcasing can be seen as one of the major factors for the growth of the AI in retail market. The enormous volume of information produced based on in-store shopper conduct, email advertising, and crusade the board, when analyzed, helps identify consumption patterns and develop personalized campaigns, in this manner encouraging better decision making.
Sam Mowers, Investorideas.com
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