The
#AIEye: IBM (NYSE: $IBM) Watson Stands Out for Finance Solutions and Accenture
(NYSE: $ACN) Teams with Mujin
#AI
Image Recognition Market to Hit $5.32 Billion by 2024
Point Roberts WA, Vancouver BC – June 28, 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
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Today’s
Column- The
AI Eye- Watching stock news, deal tracker and advancements
in artificial intelligence
Stocks
discussed: (NYSE:IBM) (NYSE:ACN)
In a digital workshop hosted by IBM Watson Marketing (NYSE:IBM) yesterday, IBM Watson technical
program manager Giulio Soliani explained why Watson is the better bet among
numerous competitors for AI solutions in the financial services industry.
Simplicity: “Whether you’re a developer or a business
subject matter expert, you can leverage the Watson tooling made available so
that you can train Watson without needing a PhD in machine learning.”
Built-in
AI:
“As you train and configure Watson, you
can do so very quickly … because we have invested in building AI models
that can get you up and running quickly.
Deploy
anywhere: “Right now you
can deploy IBM Watson on IBM Cloud, on your own private cloud, or on some of
our competitor clouds.”
Data
Ownership: “We’re very
committed [to the idea] that your data remains yours as well as the insights
generated thereof.”
Accenture (NYSE:ACN) and industrial robot maker Mujin are
collaborating to deliver end-to-end
intelligent service that uses artificial intelligence (AI) and robotics to help
accelerate digital transformation in the logistics industry. Atsushi Egawa,
country managing director of Accenture, Japan, explained:
"For
organizations to accelerate transformation, they need to form broader
ecosystems through cooperation with external partners. Mujin, as the world's
leading robot technology provider, is essential to transforming manufacturing
industries. Through the collaboration with Mujin, Accenture will strengthen its
ecosystems in the AI and robotics fields and further drive transformation for
clients. Accenture will also extend this initiative to the manufacturing field,
aiming to optimize the whole supply chain."
AI
Image Recognition Market to Hit $5.32 Billion by 2024
A report from Industry Research finds that the AI image
recognition market will grow from $1.41 billion in 2018 to $5.32 billion by
2024 with a compound annual growth rate (CAGR) of 24.7 percent. An excerpt from
the report description outlines the growth of AI image recognition in the
banking sector:
Images
are real and omnipresent, and unlike other forms of data, they cannot be forged
easily. These traits make images repositories of big data, and hence,
exploiting such data can be a great source of information for financial
institutions.
The
banking industry has been a major benefactor of AI, with firms in the BFSI
industry relying on the technology for a diverse range of applications, like
personalizing communication with customers, staying competitive in a
continuously evolving market, and improving the productivity drastically
through the automation of redundant tasks (which is a major task due to the
conventional infrastructure in a number of old school financial institutions).
Banks
have tons of unstructured data on interactions with customers, customer
photographs, and old documents, to name a few. The data, if deciphered well,
can provide valuable inputs for the future of the financial institutions.
Sam Mowers,
Investorideas.com
For
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