The #AIEye: Google (Nasdaq: $GOOG) Cloud to be #Cloud Provider for Accenture (NYSE: $ACN) INTIENT, IBM (NYSE: $IBM) Adds #AI to Intelligent Real Estate Solution, Cisco (Nasdaq: $CSCO) Introduces AI Voice Intelligence to Webex Platform
AI in Retail to Hit $10.9 Billion by 2025
Point Roberts WA, Vancouver BC – January 28, 2020 – 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: (NasdaqGS:GOOG) (NYSE:ACN) (NYSE:IBM) (NasdaqGS:CSCO)
An announcement today reveals that Google’s (NasdaqGS:GOOG) Google Cloud will be the cloud technology provider for Accenture’s (NYSE:ACN) INTIENT life sciences industry platform.The agreement will combine Google’s AI and cloud functions with Accenture’s life sciences services and platforms with the aim of improving data security and accessibility for life sciences organizations. Tariq Shaukat, president at Google Cloud, commented:
"We’re excited to partner with Accenture to transform the life sciences industry with cloud technologies. Our shared goal is to accelerate developments in treatments by leveraging powerful Google Cloud capabilities, such as AI and data analytics, to gain insights that correlate symptoms, events, and treatments in new and unexpected ways."
Both Google and Accenture are in the green today, having inched out of a minor downtrend over the weekend. Given the scope of both companies’ operations, it’s difficult to say whether this particular news played a part in their uptick today, or if this is merely an instance of the market correcting itself.
IBM (NYSE:IBM) introduced AI into its TRIRIGA solution for intelligent real estate and facility management. According to the press release, “This provides customers operating large real estate portfolios with insights to help them make smarter data-driven decisions about the way they manage their workspace,” by embedding AI into WiFi and IoT sensors. This development is manifest in the new AI-powered smart, conversational TRIRIGA Assistant, which is accessible to building occupants. Marianne Flores, director, Global Real Estate Integrated Solutions, IBM, explained:
"TRIRIGA's embedded AI will allow us to collect and analyze information quickly at a global level. With this information, we will be able to address one of our biggest challenges – balancing our portfolio while creating an environment that is attractive to our employees, helps boost their productivity and improves our bottom line."
IBM stock is enjoying a modest uptick of about 1.67 percent at press time. Again, this could very likely be down to a general lift in the market following the weekend downtrend.
Cisco Systems, Inc. (NasdaqGS:CSCO) announced the introduction of new AI-powered voice intelligence capabilities to its Webex platform for web conferencing and videoconferencing applications. The press release indicates that these developments were spurred by Cisco’s recent acquisition of software company Voicea, which itself leverages AI-powered voice recognition to power AI assistants. Sri Srinivasan, Senior Vice President and General Manager, Team Collaboration at Cisco, explained:
"Voicea users have reported saving more than six hours per week per user with more actionable and efficient meetings – and we believe Webex users will experience similar results. We're excited to bring this and other cognitive features to the 300 million users we already serve with Cisco Collaboration. This technology will fundamentally change how we are able to deliver massively personalized experiences and transform the way we work."
As with the other stocks discussed today, Cisco has seen a modest uptick today.
AI in Retail to Hit $10.9 Billion by 2025
A report from Research and Markets finds that the Artificial Intelligence in Retail market is projected to grow from $1.8 billion in 2019 to $10.9 billion by 2025 with a compound annual growth rate (CAGR) of 35 percent in the forecast period. An excerpt from the report description outlines the market overview:
● The machine learning and deep learning technologies are expected to have the most significant market share during the forecast period. Organizations in the retail industry are using machine learning and deep learning technology to offer a more personalized experience to the end users as well as to provide an interactive environment to them. Moreover, the growing trend of rising technology adoption can be associated with the need for streamlining retail operations, minimizing efforts, and increasing revenue mostly for e-commerce retailers.
● The use of artificial intelligence in retail spans every aspect of the industry. Whether the goal is to optimize the supply chain, use existing data to increase conversion, or customize shopping experiences with predictive modeling and micro-targeting or pricing, AI can help meet these challenge in the retail space.
● The AI equipped retailers with sharper forecasting tools will help in making smarter business decisions. The use of algorithms increases visibility into ROI implications, translating to results like lower costs and higher sales. AI has brought real disruption to the retail sector by improving efficiency, as well as prediction.
Sam Mowers, Investorideas.com
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