The #AIEye: GBT (OTCPINK: $GTCH) Announces Deployment of Avant! #AI Into Sports Handicapping and AWS (NasdaqGS: $AMZN) Partners with #NFL
Global #AI in BFSI Market to Reach $247.36 Billion by 2026
Point Roberts WA, Vancouver BC – December 6, 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: (OTCPINK:GTCH) (NasdaqGS:AMZN)
GBT Technologies Inc. (OTCPINK:GTCH) is deploying its Avant! AI into the field of Sports Handicapping. The implementation of recurrent relational reasoning (used in Recurrent Relational Networks - RRN) within the next months will allow Avant! “a logic analysis boost to handle vastly complex information and data interpretation’, according to the press release. An excerpt from the release reads:
GBT's new pilot project to deploy the new set of algorithms into Sports Handicapping will try to cope with a "human-based industry" via an AI platform to pick certain games from existing lines published by main betting providers.
Amazon Web Services (AWS), a subsidiary of Amazon (NasdaqGS:AMZN), has partnered with the National Football League (NFL) to advance player health and safety using the former’s “artificial intelligence (AI) and machine learning (ML) services to provide a deeper and more profound understanding of the game than ever before”. Andy Jassy, CEO of AWS, explained:
"By leveraging the breadth and depth of AWS services, the NFL is growing its leadership position in driving innovation and improvements in health and player safety, which is good news not only for NFL players, but also for athletes everywhere. This partnership represents an opportunity for the NFL and AWS to develop new approaches and advanced tools to prevent injury, both in and potentially beyond football."
Global AI in BFSI Market to Reach $247.36 Billion by 2026
A report from Allied Market Research finds that the global AI in BFSI (banking, financial services and insurance) market will grow from $17.76 billion in 2018 to $247.36 billion in 2026 with a compound annual growth rate (CAGR) of 38 percent in the forecast period. An excerpt from the report overview reads:
Proactive customer experience by automating backend process to reduce human error, with the help of AI, is expected to drive the growth of the AI in BFSI market. In addition, chatbots and robo-advisors for financial products and smart wallets are some of the factors that fuel the market growth. Furthermore, fraud detection, risk mitigation, back-end office works with thousands of people processing customer requests are improved with the help of AI enabled technologies such as chatbots, machine learning, and other such technologies, which boosts the growth of the market. However, higher cost for implementation of AI technologies, rise in security concerns, and inadequacy of trust while issuing customer data is expected to restrain the market growth.
Sam Mowers, Investorideas.com
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