The #AIEye: Cerner (Nasdaq: $CERN) Announces Collaboration with AWS (NASDAQ: $AMZN) to Accelerate Healthcare and IBM (NYSE: $IBM) Transforms Software (NYSE: $S) Portfolio to be Cloud Native
Global #AI Accounting Market to Reach $4.791 Billion USD by 2024
Point Roberts WA , Vancouver BC – August 1, 2019 – 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: (NasdaqGS:CERN) (NasdaqGS:AMZN) (NYSE:IBM) (NYSE:S)
Cerner Corporation (NasdaqGS:CERN) has announced a strategic collaboration with Amazon Web Services (AWS), a subsidiary of Amazon (NasdaqGS:AMZN). The collaboration is intended to accelerate healthcare by powering enhanced clinical experiences, increasing efficiencies by lowering operational burdens for health care organizations and accelerating AI, ML and other innovative technologies to better patient health outcomes. Brent Shafer, chairman and CEO, Cerner, commented:
“Our work with Amazon and AWS is a key component for the next chapter at Cerner. As we work to transform Cerner, we are joining forces with Amazon and AWS to help fuel our strategy of making Cerner more agile in order to deliver faster, more scalable and secure solutions to clients and patients. We expect this collaboration with Amazon and AWS will enable a new wave of innovation that can lead and transform the future of health care.
IBM (NYSE:IBM) has transformed its software portfolio to be cloud-native and optimized it to run on Red Hat OpenShift, allowing enterprises to build mission-critical applications once and run them on all leading public clouds. The press release gives the example of Sprint (NYSE:S), which “turned to the IBM Cloud Pak for Data to help it better understand and prepare for upcoming network technologies, like 5G”. Michele Gehl, vice president, OSS Applications & Operations, at Sprint, explained:
"We tapped into the IBM Cloud Pak for Data to take advantage of Watson Studio and Machine Learning. With this container-based platform, we're able to build models quickly to generate insights about client-facing issues from diverse datasets and respond accordingly."
Global AI Accounting Market to Reach $4.791 Billion USD by 2024
A report from Markets and Markets finds that the global AI in Accounting market is projected to grow from $666 million in 2019 to $4.791 billion in 2024 with a compound annual growth rate (CAGR) of 48.4 percent in the forecast period. An excerpt from the report description outlines Natural Language Processing, which is expected to be a major component of the market:
With an increase in the amount of accounting data, data management will become a challenge for accounting departments. One of the core concepts of Natural Language Processing (NLP) is the ability to understand human speech. It would be simply impossible to implement voice control over different systems without NLP. Moreover, NLP allows users to integrate, not only voice understanding into devices and sensors, but also localization features, leading to creative translation. The application of NLP includes machine translation, information extraction, report generation, question answering, acquiring data providing context, and identifying the intent of the user. In accounting, NLP finds applications in the areas of invoice classification and interpretation, and contract interpretation, among others. With the increasing variation in contract and invoice languages and formats, major AI in accounting vendors are focusing on offering NLP integrated solutions. With the strengthening regulatory and compliance landscape for data, the NLP technology in the AI in accounting is growing at a significant rate.
Sam Mowers, Investorideas.com
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