The
#AIEye: BMW Joins Tencent (OTC: $TCEHY) to Launch Computing Centre in China for
Self-Driving Cars and VMware (NYSE: $VMW) Acquires Startup Bitfusion
Global
Automotive #AI Market to Reach $5.827 Billion by 2024
Point Roberts WA , Vancouver BC – July 19, 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: (OTC:TCEHY) (NYSE:VMW)
BMW (XETRA:BMW.DE) is joining with Tencent Holdings (OTC:TCEHY) to launch a computing centre in
China for self-driving cars. The facility will begin operating later this year,
with BMW aiming to introduce semi-autonomous cars to China in 2021. The
computing centre, which may be built near the city of Tianjin, “will provide
cars with data-crunching capabilities to help them drive semi-autonomously and,
eventually, autonomously”. Jochen Goller, head of BMW’s China operations, said
in a statement that the facility:
“…will
support BMW’s autonomous driving development and innovation in China. BMW can,
therefore, develop autonomous driving solutions that fit better with the
specific driving conditions in China.”
VMware, Inc. (NYSE:VMW) has acquired startup Bitfusion – “a
pioneer in virtualization of accelerated compute with a strong focus on GPU
technology” – according to a company blog post. Krish Prasad, Senior Vice President
and General Manager, Cloud Platform Business Unit, VMware, commented:
Once
closed, the acquisition of Bitfusion will bolster VMware’s strategy of
supporting AI- and ML-based workloads by virtualizing hardware accelerators.
Multi-vendor hardware accelerators and the ecosystem around them are key
components for delivering modern applications. These accelerators can be used
regardless of location in the environment – on-premises and/or in the cloud.
Global
Automotive AI Market to Reach $5.827 Billion by 2024
A report from Big Market Research finds that the global
automotive AI market will grow from $445.8 million USD in 2017 to $5.827
billion USD in 2024 with a compound annual growth rate (CAGR) of 43.8 percent
in the forecast period 2018-2024, according to coverage from Innovative Reports. Excerpts outlining the
market read:
Artificial
intelligence has been increasingly adopted by the automotive industry, which is
among the major industries using AI to mimic the action of humans. Applications
that incorporate AI systems in automotive are semiautonomous and autonomous
vehicles. In autonomous vehicles, AI collects, processes, and chooses the
specific action based on the information gathered. Semiautonomous and
autonomous vehicles use several advanced tools such as long-range radar, LIDAR,
cameras, short/medium radar, and ultrasound to gather information and
understand the world around them. After collection of data through different
tools, AI analyzes the situation through its technologies such as machine &
deep learning, natural language processing, and computer vision. Artificial
intelligence has several applications for these vehicles such as, incorporates
speech recognition for advanced communication with passengers, directs vehicles
towards refueling station or recharge station when it is running low on fuel
and analyzes less populated and congested roads among others.
The
growth of the automotive artificial intelligence market is driven by rise in
demand for autonomous vehicles and increase in preference for enhanced user
experience & convenience features. However, the threat of hackers and rise
in cybercrime are expected to restrain the market growth. On the contrary, rise
in demand for the premium vehicle segment is anticipated to provide lucrative
growth opportunities for the market.
Sam Mowers,
Investorideas.com
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