Investor Ideas, Trading Ideas and Stocks to Watch : #AIEye #Podcast 558: #Stocks discussed: (NasdaqGS: $BIDU) (NYSE: $AYX)

Wednesday, May 19, 2021

#AIEye #Podcast 558: #Stocks discussed: (NasdaqGS: $BIDU) (NYSE: $AYX)

#AIEye #Podcast 558: #Stocks discussed: (NasdaqGS: $BIDU) (NYSE: $AYX)

Baidu Reports Unaudited Financial Results for Q1, and Alteryx Announces New #AI and #ML Innovations at Virtual Global Conference

Global #AI Market to Reach $228.3B by 2026

Point Roberts WA, Vancouver BC – May 19, 2021 – 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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Stocks discussed: (NasdaqGS:BIDU) (NYSE:AYX)

Today’s Column- The AI Eye- Watching stock news, deal tracker and advancements in artificial intelligence

Baidu, Inc. (NasdaqGS:BIDU) has announced its unaudited financial results for the first quarter ended March 31, 2021. The company’s co-founder and CEO Robin Li commented:

"We are delighted to bring innovation across many sectors, including marketing cloud, enterprise cloud, smart transportation, autonomous driving, smart assistant and AI chip, through our decade-long investment in AI. With AI powering the next stage of technology growth, many Baidu alumni have rejoined us, and our employees are energized from working on intelligent computing that can improve daily life and make the complex world simpler."

CFO Herman Yu said:

"Baidu Core delivered a strong first quarter with revenue growing 34% year over year, powered by non-advertising revenue growing 70% year over year. We will continue to invest heavily in sales, R&D and operations to support the rapid growth of our AI-powered business."

Alteryx, Inc. (NYSE:AYX) announced new innovations in analytics and data science automation, analytics in the cloud, machine learning, and AI during its Virtual Global Inspire conference. This includes: Alteryx Machine Learning, which “provides guided, explainable and fully automated machine learning (AutoML),” Alteryx Intelligence Suite, which “includes extending automated machine learning capabilities to harness all types of data including unstructured and complex data,” and more. Alteryx CEO Mark Anderson commented:

"Citizen analysts, data scientists and business decision makers will come together to see our groundbreaking innovations and hear from our strategic partners. We are relentlessly focused on making analytics and data science automated and easy for everyone, and the next few days epitomize our commitment to this mission."

Global AI Market to Reach $228.3B by 2026

A report published by Global Industry Analysts Inc. finds that the global AI market will grow from an estimated $43.1 billion in 2020 to $228.3 billion by 2026 with a compound annual growth rate (CAGR) of 32.7 percent in the forecast period. An excerpt from the report’s highlights reads:

Growth in the market is driven by increasing adoption in an expanding range of applications in varied industries. With significant improvements being seen in data storage capacity, computing power and parallel processing capabilities, the adoption of AI technology in various end-use sectors is on the rise. The rising adoption of cloud-based services and applications, rapid growth of big data, and the increasing need for intelligent virtual assistants are also contributing to the rapid pace of growth. The advent of face, image, and voice recognition technologies further boosts growth opportunities. AI has emerged as a powerful tool in the war against COVID-19. The predictive technology is being exploited by governments and other stakeholders to determine the way the COVID-19 virus is spreading, identify vulnerable people and in finding mutation patterns.

Sam Mowers, Investorideas.com

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