The
#AIEye: AI Eye Episode 379: Datametrex (TSX: $DM.V) Introduces Nexalogy SMART
and Minerva (TSX: $MVAI.V) Partners with Allinno for Australia and NZ Expansion
Global
AI in BFSI Market to See >40% CAGR from 2020-2026
Point Roberts WA, Vancouver BC – June 30, 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.
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Today’s
Column- The
AI Eye- Watching stock news, deal tracker and advancements
in artificial intelligence
Stocks
discussed: (TSXV:DM) (TSXV:MVAI)
Datametrex AI Limited (TSXV:DM)
has introduced Social Media Automated Reporting
Technologies (SMART) from its subsidiary Nexalogy. According to the press
release, “SMART is an advanced proprietary AI technology that minimizes human
involvement,” and “is designed for significant decrease in the time to insight
and report production.” SMART is still finalizing its internal product testing
and is aiming to be fully available in Q4 2020. Marshall Gunter, President and
CEO of Datametrex, commented:
"Innovation
is vital to the ever-changing artificial intelligence (“AI”) space. One of the
key drivers for Datametrex's future growth is the automated reporting
technology's ability to provide big data collection with automated reports in a
more responsive, accessible, and speedy manner. Datametrex has been working
hard with the developers in the research and development of the new application,
which will enhance customer experience and generate a new income
vertical."
Minerva Intelligence Inc. (TSXV:MVAI)
has announced that through a partnership with
Australia-based leading systems integrator and consulting firm Allinno, its
TERRA Mining AI Suite – a software suite of cognitive AI applications for
mining and exploration – will now be available to companies in Australia and
New Zealand. Minerva’s CEO Scott Tillman commented:
"We
are ecstatic to be partnering with Allinno and see this agreement as a critical
component of our go-to-market strategy. Australia and New Zealand are one of
the largest mining territories in the world, so our partnership with Allinno to
offer our solutions in those regions represents a natural next step for Minerva
in the global commercialization of our TERRA Mining AI Suite."
Global
AI in BFSI Market to See >40% CAGR from 2020-2026
A report from Global Market Insights finds that the global
AI in BFSI market, which was valued at $5 billion in 2019, will exhibit a
compound annual growth rate (CAGR) of more than 40 percent from 2020 to 2026.
An excerpt from the report’s summary outlines drivers observed in the market:
The
AI in BFSI market is witnessing rapid growth in the adoption of big data and
machine learning algorithms as BFSI institutes are preparing themselves for the
next wave of digital disruption. In 2019, the technology witnessed [an]
approximately 300% increase in investments across all the businesses compared
to 2016. In addition, the integration of AI into the BFSI toolchain across
various digital financial services has also accentuated the market growth.
The
COVID-19 outbreak has impacted BFSI enterprises severely as [the] economic
slump coupled with poor stock market sentiments and ongoing liquidity concerns
has hampered the market growth. AI technologies have emerged as a viable
solution to prevent systemic failures, implement fraud detection &
prevention techniques, and help BFSI organizations in reducing operational
risks amid the ongoing pandemic.
Sam Mowers, Investorideas.com
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