The
#AIEye Episode 418: Houston Expands Digital Alliance with Microsoft (NasdaqGS:
$MSFT) and Sterling National Bank (NYSE: $STL) Partners with IPsoft for
Cognitive #AI “Skye”
Global
AI Platform market to Register 31.2% CAGR from 2018-2025
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Today’s
Column- The
AI Eye- Watching stock news, deal tracker and advancements
in artificial intelligence
Stocks
discussed: (NasdaqGS:MSFT) (NYSE:STL)
The city of Houston is expanding its digital alliance with Microsoft
(NasdaqGS:MSFT) to “innovate in big data,
artificial intelligence and the digital economy,” through the latter’s
Accelerate program. Kate Johnson, president of Microsoft U.S., explained:
"Microsoft
launched the Accelerate program at a time when closing the digital divide has
never been more important. We're thrilled to be joining Mayor Turner and an
impressive group of partners in this effort to expand access to in-demand
digital skills—and close digital skills gaps widened by COVID-19—through
Accelerate: Houston."
Sterling National Bank, the wholly-owned operating bank
subsidiary of Sterling Bancorp (NYSE:STL), has announced its partnership with enterprise AI leader
IPsoft to deploy Amelia, described as :the industry-leading Digital Employee™.”
According to the press release, “Sterling National Bank is deploying the
technology under the name “Skye,” that will be a cognitive AI digital customer
service colleague.” Chetan Dube, CEO at IPsoft, explained:
“During
this challenging period where many bank branches remain closed all across the
world, it has never been more important to have a scalable customer service
solution to ensure that our limited ability to interact in the physical world
doesn’t prevent customers from conveniently managing their banking services. By
taking advantage of the scalable and superior digital customer service
capabilities of Amelia, Sterling National Bank is assuring its customers that it
can support their banking needs no matter where they are — now and in the
future.”
Global
AI Platform market to Register 31.2% CAGR from 2018-2025
A report published by Data Bridge Market Research finds that the
global AI Platform market, which was valued at $2.34 billion in 2017, will
register a compound annual growth rate (CAGR) of 31.2 percent in the forecast
period 2018-2025. The report identifies high Information and data storage
capacity, high computing power and parallel processing capabilities, and an
increasing number of AI applications and adoption of these applications in
various segments,” as market drivers. It identifies a lack of people power, and
data inefficiency in building proper AI algorithms as restraints to market
growth.
Sam Mowers, Investorideas.com
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