The #AIEye Episode 360: Patriot One’s (TSX: $PAT.TO) (OTC: $PTOTF) Xtract AI Secures $150K Grant for #AI Donation/Transplant Solution and Accenture (NYSE:$ACN) Completes Acquisition of French AWS (NasdaqGS: $AMZN) Company Gekko
Global Image Recognition Market to Reach $81.88 Billion by 2026
Point Roberts WA, Vancouver BC – June 2, 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/06021AIEye-PAT-ACN-AMZN-Gekko.asp
Today’s Column- The AI Eye- Watching stock news, deal tracker and advancements in artificial intelligence
Stocks discussed: (TSX:PAT) (OTC:PTOTF) (FRANKFURT:0PL) (NYSE:ACN) (NasdaqGS:AMZN)
Xtract Technologies Inc, a wholly-owned subsidiary of Patriot One Technologies Inc. (TSX:PAT) (OTC:PTOTF) (FRANKFURT: 0PL), has secured a $150,000 CAD grant with Health Canada to use AI to improve success rates of organ donation and transplantations within Canada. According to the press release, “Xtract AI will develop a semi-automated deep learning system to identify the best potential for donor-recipient matches for kidney transplantation. Building on publicly available data, these matches will be labeled as a “good” or “bad” based on the organ survival times. This dataset will then be used to train a model which can be used for identifying better matches. This system can be used to identify a confidence score for all of the possible matches and will be ranked to identify optimal donors for a given recipient.” Elliot Holtham, a founder at Xtract AI, said:
“This is exciting work for a very important issue. Deep learning algorithms are highly generalizable and we hope our model may be expanded to other organ transplants, as needed.”
Accenture (NYSE:ACN) has completed its acquisition of French Amazon Web Services (AWS) (NasdaqGS:AMZN) cloud services company Gekko. According to the press release, this acquisition “strengthens Accenture's leadership position in cloud and artificial intelligence,” and “extends its ongoing relationships with key technology providers.” At the time the acquisition was originally announced, on April 20, 2020, Roland Esnis and Julien Favre, co-founders and CEOs of Gekko, explained:
"In the fast-growing cloud market, joining Accenture would be a unique opportunity to help even more organizations to leverage journey to the cloud for accelerating their digital transformations, growing their businesses and improving customer experiences. By combining the renowned talent, reputation and capabilities of Gekko with Accenture’s strong team of AWS practitioners in France, we would be better positioned to lead the industry in cloud services in France."
Global Image Recognition Market to Reach $81.88 Billion by 2026
A report from Fortune Business Insights finds that the global Image Recognition market will grow from $20.19 billion in 2018 to $81.88 billion by 2026 with a compound annual growth rate (CAGR) of 19.6 percent in the forecast period. The report indicates that this market is driven, in part, by “advancements in artificial intelligence and machine learning.” An excerpt from the report summary outlines some factors influencing the market’s growth:
Increasing demand for facial recognition solutions and cloud-based services are the factors expected to provide growth opportunities for the global image recognition market during the forecast period. The increasing pace of technological advancements in facial recognition solutions is providing ample growth opportunities in several industry areas. Moreover, the use of facial recognition technology for surveillance, and to track criminal activities in public places is expected to increase due to a wide application of image recognition technology in law enforcement.
Sam Mowers, Investorideas.com
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