#AIEye
Episode 425: Mastercard (NYSE: $MA) Integrates Vehicle Recognition #Tech from
Rekor (NasdaqGS: $REKR) for #AI Powered Drive Through Platform, SPX (NYSE: $SPXC)
Acquires ULC #Robotics
Global
Conversational AI to Reach $14.26 Billion by 2026
Point Roberts WA, Vancouver BC – September 3, 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.
Listen
to today’s podcast:
https://www.investorideas.com/Audio/Podcasts/2020/090320-AI-Eye.mp3
Read
this in full at https://www.investorideas.com/news/2020/artificial-intelligence/09031AIEye-MA-REKR.asp
Today’s
Column- The
AI Eye- Watching stock news, deal tracker and advancements
in artificial intelligence
Stocks
discussed: (NYSE:MA) (NasdaqGS:REKR) (NYSE:SPXC)
Mastercard (NYSE:MA)
is integrating Edge proprietary vehicle recognition
technology from AI firm Rekor Systems, Inc. (NasdaqGS:REKR)
into its AI Powered Drive Through platform. This platform leverages vehicle
recognition, voice ordering, and AI, to help fast food restaurants “transform
their drive through or drive in interactions.” Mastercard’s AI powered drive
through platform will, according to the press release, begin on-location pilots
at White Castle locations in October 2020 and will also be rolling out with
other quick service restaurants later in the year. Stephane Wyper, senior vice
president, retail innovation, Mastercard, explained:
“As
retailers and consumers navigate through one of the most disruptive periods in
modern history, it’s clear that traditional business operations will need to
evolve quickly. Technologies like Rekor’s give us the ability to help our retail
partners meet the challenges posed by this new normal and provide their
customers with a more digitally enabled, touchless, and secure retail
experience.”
SPX Corporation (NYSE:SPXC)
has acquired ULC Robotics, described as a “leading
developer of robotic systems, machine learning applications and inspection
technology for the energy, utility and industrial sectors.” Gene Lowe, SPX
Corporation’s President and CEO, commented:
“We
are excited to welcome the ULC Robotics team to SPX. ULC’s
Robotics-as-a-Service business is a strong complement to SPX’s world-class
suite of solutions for the location, inspection and maintenance of underground
infrastructure. The addition of ULC’s
R&D business further enhances SPX’s capacity to develop advanced technology
solutions, such as artificial intelligence (AI) and machine-learning, for
customers across our platforms. The combination of ULC Robotics’ expertise in
technology and solutions development with SPX’s market-leading capabilities in
product commercialization, market development, and brand and channel management
creates strong growth opportunities for our employees, customers and
shareholders.”
Global
Conversational AI to Reach $14.26 Billion by 2026
A report published by Research and Markets finds that the global
Conversational AI market will reach $14.26 billion by 2026 with a compound
annual growth rate (CAGR) of 19.9 percent in the forecast period 2019-2026. An
excerpt from the report description reads:
Conversational
AI accounts for an important place in personal assistance activities. It can
analyze the open interactions when relating it with the scenario or case.
Companies are utilizing AI innovation by using a blend of NLU and ML, which
empowers the assistants to be trained with industry-explicit information and
extraordinary business information for an increased time to market.
Factors
such as increasing demand for AI-powered customer support services and rising
demand for AI-based chatbots to stay connected and informed during the COVID-19
are driving the market growth. However, lack of awareness about conversational
AI solutions is hampering the market growth.
Sam Mowers, Investorideas.com
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