The #AIEye: GBT Files (OTCPINK: $GTCH) Continuation Application for Microchip Patent, NTT Partners with Mitsubishi for #AI-Powered Food Distribution
Global #AI in Fashion Market to Reach $4.391 Billion by 2027
Point Roberts WA, Vancouver BC – December 31, 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/12311AIEye-GTCH-NTT-Mitsubishi.asp
Today’s Column- The AI Eye- Watching stock news, deal tracker and advancements in artificial intelligence
Stocks discussed: (OTCPINK:GTCH) (TYO:9432) (TYO:8058)
GBT Technologies Inc. (OTCPINK:GTCH) filed a continuation application for its communication microchip patent for its GopherInsight on December 27, 2019, in order to further protect its innovative concepts and methods. The patent is expected to be granted during the first quarter of 2020. Danny Rittman, GBT's CTO, explained:
"The microchip is targeted to be implemented as an independent IP unit on an existing chip or on device's micro SIM/Board. We believe this creates an entire whole world of business opportunities licensing it to IC design firms and devices manufactures. The new microchip systems and methods will enable the design of high performance, low power, robust communication microchips that will enhance our daily lives within wide variety of domains. The technology covers advanced node manufacturing to ensure low unit cost and high silicon yield. GBT plans to offer this technology to IC design houses once the patent is granted, and to seek partnerships within the communication IoT industry in order to create new technological advancements."
Nippon Telegraph and Telephone Corporation (NTT) (TYO:9432) and trading house Mitsubishi Corporation (TYO:8058) are partnering to provide AI and digital services to the food distribution industry, according to a recent report from Nikkei Asian Review. The initiative will employ AI analysis to “predict demand” and image recognition technology”to classify products”. An excerpt from the article reads:
NTT has been working on AI research in a groupwide effort. By teaming up with Mitsubishi, which has domestic food wholesaler Mitsubishi Shokuhin and convenience store chain Lawson under its umbrella, NTT hopes to recruit companies in a wide range of industries.
The partners plan to license their digital product management system to others, with an eye on logistics operations in such fields as construction materials. NTT targets hundreds of billions of yen in annual sales.
Global AI in Fashion Market to Reach $4.391 Billion by 2027
Research from ReportLinker finds that the global AI in Fashion market will grow from $270 million in 2018 to $4.391 billion by 2027 with a compound annual growth rate (CAGR) of 36.9 percent in the forecast period. An excerpt from the report summary reads:
Driving factors such as availability of massive amount of data due to increasing proliferation of digital services across the globe, and real time consumer behavior insights and increased operational efficiency are driving the adoption of AI in [the] fashion industry will drive the market during the forecast period and have a high impact in the short term. However, factors such as concerns related to data privacy and security is anticipated to hinder the market growth in the coming years.
AI integration in fashion plays a crucial role in sales, marketing, and customer-focused purposes.Initial adopters point toward the key impacts of technology in improving customer experience and decent growth in company revenue.
Sam Mowers, Investorideas.com
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