The #AIEye: Google (NasdaqGS: $GOOG) Details #AI System for Weather Precipitation Forecasting and LG Electronics USA Partners with Homebase.AI
APAC #AI in Fashion Market to Reach $1.015 Billion by 2027
Point Roberts WA, Vancouver BC – January 16, 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) (KSE:066570)
In a recent blog post, Google (Alphabet Inc.) (NasdaqGS:GOOG) detailed its AI system leveraging machine learning models for weather precipitation forecasting. The report boasts that “precipitation nowcasting, which focuses on 0-6 hour forecasts, can generate forecasts that have a 1km resolution with a total latency of just 5-10 minutes, including data collection delays, outperforming traditional models, even at these early stages of development.” A further excerpt from the blog post reads:
One of the advantages of the ML method is that predictions are effectively instantaneous, meaning that our forecasts are based on fresh data, while HRRR (High Resolution Rapid Refresh) is hindered by computational latency of 1-3 hours. This leads to better forecasts for computer vision methods for very short term forecasting. In contrast, the numerical model used in HRRR can make better long term predictions, in part because it uses a full 3D physical model — cloud formation is harder to observe from 2D images, and so it is harder for ML methods to learn convective processes. It's possible that combining these two systems, our ML model for rapid forecasts and HRRR for long-term forecasts, could produce better results overall, an idea at the focus of our future work. We're also looking at applying ML directly to 3D observations. Regardless, immediate forecasting is a key tool for real-time planning, facilitating decisions and improving lives.
LG Electronics USA, a subsidiary of LG Electronics Inc. (KSE:066570), has partnered with smart building automation company Homebase.AI. According to the press release, the two companies are working on a smart home initiative leveraging AI and automated work order management that will see its debut in a boutique retirement club in Leawood, Kansas called The Fairways. “Each of the 72 residences will include an LG smart refrigerator, washer, dryer, oven and dishwasher. They will also be equipped with Schlage Control smart locks, smart thermostats, and property-wide WiFi and smart home platform from Homebase.” Sam Chang, Corporate Vice President in the LG Silicon Valley Lab, commented:
"The future of digital living is not just about connected devices, but truly connected communities and services. Our partnership with Homebase will allow us to leverage their autonomous building platform to further integrate our smart devices into the multifamily properties to create a better, more connected living experience for multifamily residents, property managers, and owners."
APAC AI in Fashion Market to Reach $1.015 Billion by 2027
Research from ReportLinker finds that the Asia-Pacific AI in Fashion market will grow from $55.1 million USD in 2018 to $1.015 billion by 2027 with a compound annual growth rate (CAGR) of 39 percent in the forecast period. An excerpt from the report summary reads:
Real-time consumer behavior insights and increased operational efficiency are driving the adoption of artificial intelligence in fashion industry. Moreover, the availability of a large amount of data originating from different data sources is one of the key factors driving the growth of AI technology across the fashion industry. Artificial Intelligence has already disrupted several industries, including the retail and fashion industry. The fashion industry so far has been one of the primary adopters of the technology. The fashion retailers these days are leveraging several revolutionary technologies, including machine learning, like augmented reality (AR) and artificial intelligence (AI), to make seamless shopping experiences across the channels, from online models to brick and mortar stores. Fashion retailers are progressively moving towards the AI integration within their supply chain, where more focus is being on customer-facing AI initiatives. Further, an AI integrated search engine is expected to reshape the way fashion designers develop new product designs. Store operations and in-store services will also be greatly benefited from AI integration in the fashion industry.
Sam Mowers, Investorideas.com
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