#AI Intersecting with IoT and #Cloud Computing Becoming
Ubiquitous? (TSX: $STLC.TO) (TSXV: $MCLD.V) (OTCQB: $MCDLF) (NASDAQ: $NUAN)
(NYSE: $NOK)
Point Roberts WA, Vancouver BC – March 6,
2019 – 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/03062AIEye-STLC-MCLD-MCDLF-NUAN-NOK.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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