The #AIEye Episode 343: Intel (NasdaqGS: $INTC) Acquires MaaS Firm Moovit and IBM (NYSE: $IBM) Unveils Watson AIOps
Global #AI in Drug Discovery Market to Reach $1.434 Billion by 2024
Point Roberts WA, Vancouver BC – May 5, 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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Read this in full at https://www.investorideas.com/news/2020/artificial-intelligence/05051AIEye-INTC-IBM.asp
Today’s Column- The AI Eye- Watching stock news, deal tracker and advancements in artificial intelligence
Stocks discussed: (NasdaqGS:INTC) (NYSE:IBM)
Intel Corporation (NasdaqGS:INTC) has acquired mobility-as-a-service (MaaS) solutions company Moovit for approximately $900 million. Moovit provides AI-powered mobility solutions, the addition of which “brings Intel’s Mobileye closer to achieving its plan to become a complete mobility provider,” according to the press release. Intel CEO Bob Swan said:
"Intel’s purpose is to create world-changing technology that enriches the lives of every person on Earth, and our Mobileye team delivers on that purpose every day. Mobileye’s ADAS [advanced driver-assistance systems] technology is already improving the safety of millions of cars on the road, and Moovit accelerates their ability to truly revolutionize transportation – reducing congestion and saving lives – as a full-stack mobility provider."
IBM (NYSE:IBM) has announced the unveiling of IBM Watson AIOps, described as “a new offering that uses AI to automate how enterprises self-detect, diagnose and respond to IT anomalies in real time.” In tandem, IBM is releasing the Accelerator for Application Modernization with AI, which “leverages continuous learning and interpretable AI models to adapt to the client's preferred software engineering practices and stays up-to-date with the evolution of technology and platforms.” Rob Thomas, Senior Vice President, Cloud and Data Platform, IBM, explained:
"What we've learned from companies all over the world is that there are three major factors that will determine the success of AI in business – language, automation and trust. The COVID-19 crisis and increased demand for remote work capabilities are driving the need for AI automation at an unprecedented rate and pace. With automation, we are empowering next generation CIOs and their teams to prioritize the crucial work of today's digital enterprises—managing and mining data to apply predictive insights that help lead to more impactful business results and lower cost."
Global AI in Drug Discovery Market to Reach $1.434 Billion by 2024
A report from Markets and Markets finds that the global AI in Drug Discovery market will grow from $259 million in 2019 to $1.434 billion by 2024 with a compound annual growth rate (CAGR) of 40.8 percent in the forecast period. An excerpt from the report description reads:
The growth of the artificial intelligence in drug discovery market is primarily driven by factors such as the growing number of cross-industry collaborations and partnerships, the increasing need to control drug discovery & development costs and reduce the overall time taken in this process, the rising adoption of cloud-based applications & services, and the impending patent expiry of blockbuster drugs.
On the other hand, a lack of data sets in the field of drug discovery and the inadequate availability of skilled labor are some of the factors challenging the growth of the market.
Sam Mowers, Investorideas.com
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