The #AIEye: IBM (NYSE: $IBM) Combats Human Trafficking with Traffik Analysis Hub, US Bank (NYSE: $USB) Hires #AI Lead and FICO (NYSE: $FICO) Adds New Product Families to Fight Fraud
Global Military #AI and #Cybernetics Market to Reach $13.11 Billion by 2024
Point Roberts WA, Vancouver BC – November 7, 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:IBM) (NYSE:USB) (NYSE:COF) (NYSE:FICO)
IBM (NYSE:IBM) is combating human trafficking with its Watson Discovery, Natutal Language Processing, and public cloud technology. The firm has co-created a new technology resource called Traffik Analysis Hub (TA Hub), which “enables authorized organizations, such as financial service companies, NGOs and law enforcement agencies, to collaborate systematically, on a continuous basis”. Guillermo Miranda, Global Head of IBM Corporate Social Responsibility, commented:
"We're optimistic that technologies such as AI can be an important part of improving the lives of so many people. What's also key here is the collaboration of public, private and not-for-profit sectors -- addressing the issue together. They're telling us that the shared knowledge and intelligence from the Traffik Analysis Hub will enable them to make real progress in addressing human trafficking."
U.S. Bancorp (NYSE:USB) has hired Dr. Tanushree Luke to lead Artificial Intelligence (AI) efforts at the company. Luke had previously served as the Head of Predictive AI and Machine Learning for Capital One’s (NYSE:COF) Conversational AI Platform/Eno. Dominic Venturo, chief innovation officer at U.S. Bank., said:
“Tanu has been a respected thought leader for more than 15 years in cutting-edge technology domains. She has the right experience, a dynamic combination of strategic vision and technical acumen, and a deep understanding of underlying trends that will help U.S. Bank deliver tremendous value and insight for our customers and employees.”
Fair Isaac Corporation (NYSE:FICO) is adding FICO® Identity Proofing and FICO® User Authentication to its portfolio, along with the acquisition of fraud prevention firm EZMCOM. According to the press release, FICO Identity Proofing “allows organizations to digitally onboard new customers without requiring in-person verification”, and FICO User Authentication is “a comprehensive suite of capabilities including multifactor, biometric, and behavioral authentication”. These new product families leverage AI and machine learning to combat fraud.
Global Military AI and Cybernetics Market to Reach $13.11 Billion by 2024
A report from BIS Research finds that the global Military AI and Cybernetics market will grow from a revenue of $4.77 billion in 2018 to $13.11 billion in 2024 with a compound annual growth rate (CAGR) of 18.66 percent in the forecast period. An excerpt from the report’s press release reads:
The increasing demand for modern defense systems, data handling techniques, and fabrication of complex problems with time such as terrorism, trespassing, sleeper-cells, etc. are some of the factors due to which various countries are investing for upgrading the current military technologies with artificial intelligence.
The market is currently witnessing a high growth rate owing to the rising demand of AI for developing military equipment for various platforms such as land, air, naval, and space. The acceptance of artificial intelligence across defense and security for various applications is largely due to its operational superiority in harsh environment. Additionally, the growing awareness of artificial intelligence for the defense forces in the emerging economies, such as China, India, and Russia, has propelled the growth of military artificial intelligence and cybernetics market, globally.
Sam Mowers, Investorideas.com
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