The #AIEye: Alteryx (NYSE: $AYX) Acquires Feature Labs and BrainChip (ASX:BRN) Ramps Up Global Marketing Ahead of Bringing Flagship Akida to Market
Global Machine Learning Market to Reach $8.81 Billion by 2022
Point Roberts WA, Vancouver BC – October 4, 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:AYX) (ASX:BRN)
Alteryx, Inc. (NYSE:AYX) has acquired data science software company Feature Labs. Feature Labs was launched out of Massachusetts Institute of Technology (MIT) and automates feature engineering for machine learning and artificial intelligence (AI) applications. Dean Stoecker, co-founder and CEO of Alteryx, explained:
"Feature Labs' vision to help both data scientists and business analysts easily gain insight and understand the factors driving their business matches the Alteryx DNA. Together, we are helping customers address the skills gap by putting more powerful advanced analytic capabilities directly into the hands of those responsible for making faster decisions and accelerating results. We are excited to welcome the Feature Labs team and to add an engineering hub in Boston.”
BrainChip Holdings Ltd. (ASX:BRN) is ramping up its global marketing efforts ahead of bringing its Akida neuromorphic system-on-a-chip to market. Today the firm announced that it has retained the services of technical industry analyst firm ActualTech Media and global public relations and marketing experts JPR Communications. According to the press release, ActualTech Media has been employed to “help BrainChip to gain mindshare in the burgeoning AI acceleration chipset market”, and JPR Communications will “ensure that BrainChip’s message is delivered across multiple offline and online platforms to reach their intended audiences”. Louis DiNardo, CEO of BrainChip, commented:
“I am fully aware of the idea that you only have one chance to make a good impression and therefore I understand the importance of building a global marketing team that will help us do just that. While there is a considerable amount of buzz about artificial intelligence, machine learning, and the edge today, there hasn’t been much said about how to translate vast realms of data into actionable information. By partnering with ActualTech Media and JPR Communications, both influencers and our potential customer-base can better understand the value we bring in delivering our AI-based ‘brains’ to edge devices.”
Global Machine Learning Market to Reach $8.81 Billion by 2022
A report from Markets and Markets finds that the global Machine Learning market is expected to grow from $1.03 billion in 2016 to $8.81 billion by 2022, with a compound annual growth rate (CAGR) of 44.1 percent in the forecast period. An excerpt from the report description outlines the verticals segment of the market:
In the verticals segment, the Banking, Financial Services, and Insurance (BFSI) vertical is expected to be the highest contributor, whereas the healthcare and life sciences vertical is projected to grow at highest CAGR during the forecast period. Both the verticals generate data in a huge amount every second, and there is accelerated demand for data management technologies such as machine learning and predictive analytics in order to extract business critical insights from this ever-increasing data. The other industry verticals, such as manufacturing, telecommunication, energy and utilities, retail, and government and defense are contributing significantly to the machine learning market. These verticals are also expected to witness significant growth rates during the forecast period due to the increased concerns for managing the complex business processes with improved efficiency and lowering the overall costs.
Sam Mowers, Investorideas.com
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