The #AIEye: Grupo Piñero Adopts IBM (NYSE: $IBM) #AI and Cloud Solutions and Intel’s (Nasdaq: $INTC) Jack Weast Selected to Lead IEEE Safe Automated Vehicle Decision-Making Proposal
Global NLP Market to Reach $26.4 Billion by 2024
Point Roberts WA, Vancouver BC – December 20, 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) (NasdaqGS:INTC) (NasdaqGS:NVDA)
Spanish tourism group Grupo Piñero has adopted AI, public cloud and hybrid cloud solutions from IBM (NYSE:IBM) to “accelerate the development of new customer-facing digital applications and modernize existing applications”. Sebastian Krause, General Manager, IBM Cloud & Cognitive Software Europe, commented:
"As enterprises enter the next phase of their digital reinvention, they are rapidly turning to hybrid cloud and AI solutions to develop new experiences for their customers and drive new levels of efficiency. With IBM Cloud and IBM Watson, Grupo Piñero is infusing AI into its business to derive insights and extract knowledge from critical data on the cloud in order to make better business decisions."
Jack Weast, Senior Principal Engineer for Intel Corporation (NasdaqGS:INTC) has been selected to lead “a proposal to develop a standard for safety considerations in automated vehicle (AV) decision-making” for the Institute of Electrical and Electronics Engineers (IEEE). An excerpt from the press release outlines Intel’s role in the endeavor:
Intel will bring its Responsibility-Sensitive Safety (RSS) framework as a starting point for the industry to align on what it means for an AV to drive safely. Open and technology-neutral, RSS defines what it means for a machine to drive safely with a set of logically provable rules and prescribed proper responses to dangerous situations. It formalizes human notions of safe driving in mathematical formulas that are transparent and verifiable.
Riccardo Mariani, vice president of Standards Activities at IEEE Computer Society and vice president of Industry Safety at NVIDIA (NasdaqGS:NVDA), commented:
"This standardization project will provide an important basis for the development of open, formal models in automated vehicle decision-making. Redundancy and diversity are crucial to developing scalable frameworks for safe automated driving."
Global NLP Market to Reach $26.4 Billion by 2024
A report from Research and Markets finds that the global Natural Language Processing (NLP) market will grow from $10.2 billion in 2019 to $26.4 billion by 2024 with a compound annual growth rate (CAGR) of 21 percent in the forecast period. An excerpt outlines the banking, financial services and insurance (BFSI) vertical which is projected to hold the largest market share in the forecast period:
Companies across the BFSI sector need to retain customers, cut costs, and increase profits and comply with the changing rules and regulations. NLP-based products are helping companies in the BFSI industry mitigate risks through applications majorly in information retrieval, intent parsing, and customer service and compliance process automation applications, among others. Automating the processes using solutions based on NLP has not only helped firms in the BFSI sector improve productivity, but made the interpretation process less prone to errors, optimized the way companies deal with structured and unstructured data, and acquired important customer data that they may not have had otherwise.
Sam Mowers, Investorideas.com
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