#AI and #CloudComputing - the Perfect Pairing; (TSX:
$STLC.TO) (TSXV: $MCLD.V) (OTCQB: $MCDLF) (NASDAQ: $NUAN) (NYSE: $NOK)
Point Roberts, WA and Delta, BC - March 7, 2019
(Investorideas.com Newswire) Investorideas.com, a global investor news source
covering Artificial Intelligence issues a special edition of The AI Eye,
looking at the intersection of AI, IoT and Cloud Computing and the impact on
the companies and sectors utilizing the technologies.
Across
various sectors, artificial intelligence and cloud computing complement each
other, often along with IoT, to improve technology and catalyze growth. Data
from Research
and Markets
indicates that the Artificial Intelligence of Things (AIoT) market is projected
to grow at a compound annual growth rate (CAGR) of 37 percent through to 2023. The
report observes that “AI adds value to IoT through machine learning and
decision making and IoT adds value to AI through connectivity and data
exchange” and devotes several sections to the increasing role of cloud
computing in the market.
Read this in full
at https://www.investorideas.com/news/2019/artificial-intelligence/03072AIEye-CloudComputing.asp
An
example of this is Stelco Holdings, Inc. (TSX:STLC) which recently
partnered with Canvas Analytics Inc. The partnership involves Stelco using
Canvas’ AI-driven Industrial
IoT platform to “transform its steel operations, improve yield and boost
productivity.” The press
release
quotes Canvas Analytics Chief Executive, Humera Malik, commenting on the need
to convert the voluminous data generated into usable info:
"As manufacturers digitize their operations floor,
they are inundated with volumes of data coming from a multitude of sources. The
next step towards intelligent operations requires real-time analytics power
that transforms operational data into actionable intelligence. Canvass
Analytics empowers industrial operating teams to take control and make
data-driven decisions that improve their performance, reduces costs and unlocks
new revenue streams."
Universal mCloud
Corp.
(TSXV:MCLD.V) (OTCQB:MCLDF)
similarly leverages cloud computing and IoT, most recently in the oil and gas
sector with the deployment of their AssetCare platform in a deal with Fulcrum
Automation Technologies Ltd. worth $15 million. In an interview with Proactive
Investors,
company President and CEO,
Russ McMeekin outlined the importance of the cloud and the clout afforded by
the company’s partnership with Microsoft Azure:
“We were very clear
that how we were going to do it was cloud only. We’re very fortunate that we’ve
partnered with Microsoft Azure. Big oil guys are very comforted…that Azure
Cloud is ready for their business case uses, and that’s why our timing is
perfect and has led to this partnership with Fulcrum and now we’re ready to
make prime time oil and gas.”
Nuance
Communications, Inc.’s (NasdaqGS:NUAN) cloud-hosted PowerScribe One
platform utilizes AI to assist in diagnostics and decision support for
radiologists. According to Healthcare
IT News,
the cloud platform employs “natural language understanding, image
characterization, speech recognition, intelligent exchange of structured data
and more to reduce inefficiencies and bolster clinicians’ accuracy”. The
article quotes Vice President and General Manager for Healthcare Diagnostics at
Nuance, Karen Holzberger, on the relief the technology brings to professionals
with increasing workloads:
"These
virtual assistants could actually aid (doctors) to be more productive and
efficient and get to the right parts of the report as soon as possible and not
to have to repeat themselves.”
Elsewhere,
Nokia Corporation (NYSE:NOK) has recently demonstrated cloud-based VR
(virtual reality) gaming on an AI-powered 5G network in collaboration with CMCC
(China Mobile Communications Corporation). With VR games being quite demanding
apps on networks, the press release explains how the two companies leverage the
AI/cloud integration:
“…Nokia and CMCC
have been working closely on an open, intelligent radio network architecture
that will support well the usage of AI/ML techniques and edge cloud real-time
computing capabilities. The system uses the O-RAN Interface Controller (RIC) A1
interface to help the AI/ML capability to learn and adapt to network traffic so
as to better control for QoS and ensure the quality of experience for the
gamers.”
As
major facets of the so-called fourth industrial revolution (4IR), it’s not
surprising to observe AI, IoT and Cloud Computing intersecting to enhance
various sectors, and as the World
Economic Forum
describes the 4IR as being “characterized by a fusion of technologies that is
blurring the lines between the physical, digital, and biological spheres”, so
investors can expect much more of the intersection described above.
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