The #AIEye Episode 320: Veritone (NasdaqGM: $VERI) Named Winner in 2020 #AI Excellence Awards
#MachineLearning Market to Grow by $11.16 Billion from 2020-2024
Point Roberts WA, Vancouver BC – March 27, 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: (NasdaqGM:VERI) (TSXV:ADK)
Veritone, Inc. (NasdaqGM:VERI) has been named as a winner in the 2020 Artificial Intelligence Excellence Awards program from Business Intelligence Group for its Veritone IDentify and Veritone Redact applications, which are powered by its aiWARE platform. According to the press release, “Veritone IDentify and Veritone Redact lower the barrier to access cutting-edge AI, enabling sectors like law enforcement and government to realize the power of the technology. Taken together, these products empower public safety by accelerating the identification of potential criminal suspects and protecting the privacy of civilians.” Jon Gacek, Head of Government, Legal and Compliance at Veritone, commented:
"We are honored to be recognized as a top provider of AI solutions, particularly for our turnkey applications for law enforcement agencies, IDentify and Redact. For the last several years, our team has worked hard to provide innovative tools to accelerate workflows, save costs and valuable resources, and protect the public. This award aligns with the traction we are getting in the market and represents a huge milestone and great recognition for our team. We are excited to continue to bring innovative, pragmatic AI solutions to the table for these important sectors."
DIAGNOS Inc. (TSXV:ADK) has responded to the “Call to Action” initiative by the White House Office of Science and Technology Policy with its AI medical platform FLAIRE. FLAIRE will be leveraged in an effort to “identify key factors that could assist in the battle against the Coronavirus.” André Larente, CEO of Diagnos, explained:
“Diagnos AI platform has been built to address the complexity of multiple sources of data that includes text mining, data mining and medical imaging. The proprietary technology has been developed over a number of years in order to identify medical challenges, for example cardiovascular issues have resulted in new tests to address hypertensive patient complications and to predict a potential stroke. The intention of FLAIRE in response to the White House Call to Action is to assist in resolving some of the issues caused by the virus by analyzing the dataset made available by the US authorities.’’
Machine Learning Market to Grow by $11.16 Billion from 2020-2024
A report from Technavio finds that the Machine Learning market will grow by $11.16 billion from 2020-2024 with a compound annual growth rate (CAGR) of nearly 39 percent. An excerpt from the report snapshot outlines key drivers and trends observed in the market:
The rising adoption of recommendation systems will be one of the significant factors that will have a positive impact on the growth of the market. Recommendation systems are used across a wide range of industries and are primarily popular among companies that offer products through online media, to gather huge data on customer behavior. This is mainly adopted by e-commerce companies to assist consumers in getting recommendation offers on products from different vendors. Additionally, it also helps in building a strong customer relationship and in generating high profitability for businesses. Machine learning concepts play a vital role in the creation of recommendation systems. The rise in online retail increased the number of applications using the recommendation systems. This, in turn, will fuel the machine learning courses market growth, powered by the increasing R&D activities on search engines by companies in the online retail sector.
Sam Mowers, Investorideas.com
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