The
AI Eye Episode 364: CaixaBank Announces Cloud Agreement with IBM (NYSE: $IBM)
and Wipro (NYSE: $WIT) Teams with IBM for Innovation Center
Global
NLP Market to Reach $80.68 Billion by 2026
Point Roberts WA, Vancouver BC – June 8, 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: (NYSE:IBM) (OTC:CAIXY) (NYSE:WIT)
Spanish financial services company CaixaBank (OTC:CAIXY) has announced an agreement with IBM (NYSE:IBM)
to “accelerate its hybrid cloud journey and continue their work to increase the
bank's capability to develop innovative, digital-first solutions to enhance
client experiences.” According to the press release, CaixaBank is “one of the
pioneering banks in the application of artificial intelligence for financial
services, developing one of the first virtual banking assistants created in
Europe,” based on IBM’s AI-based virtual assistant Watson. CaixaBank CEO
Gonzalo Gortázar commented:
"Our
company, the leader in digital customers in Spain, has renewed our relationship
with IBM to allow us to continue innovating and transforming the way we
interact with our customers. By strengthening and expanding the collaboration
with a company that is a global model in innovation for the finance industry,
we will accelerate, even further, our digital capabilities to continue
developing innovative projects and services."
Wipro Limited (NYSE:WIT) announced a collaboration with IBM on a
co-innovation center called the Wipro IBM Novus Lounge at the former’s campus
in Kodathi, Bengaluru in India. The center “will offer a comprehensive suite of
solutions leveraging Cloud, Artificial Intelligence, Machine Learning and
Internet of Things capabilities to foster innovation for enterprises,
developers and start-ups.” Gaurav Sharma, Vice President of Cloud and Cognitive
Software, IBM India, explained:
"As
companies across the world continue to drive digital transformation,
decision-makers must rethink radically on how to leverage the combined power of
data, cloud and open source technologies to become industry leaders. Wipro IBM
Novus Lounge brings together Wipro’s expertise across industries and IBM’s open
source technologies, designed to be secure and scalable across hybrid cloud,
Data and AI, all running on Red Hat OpenShift promoting the journey to Cloud
and journey to AI."
Global
NLP Market to Reach $80.68 Billion by 2026
A report from Fortune Business Insights finds that the global
Natural Language Processing (NLP) market will grow from $8.61 billion in 2018
to $80.68 billion by 2026 with a compound annual growth rate (CAGR) of 32.4
percent in the forecast period 2019-2026. An excerpt from the report summary outlines
the role of customer experience in driving the market:
Understanding
the clients’ feedback or requirement is becoming very difficult day by day
because of the increasing number of channels through which the clients provide
their requirements or feedback. To understand these requirements that are
associated with products or services, companies need a platform to manage
business processes. Hence, they are constantly looking for an opportunity to
enhance customer experience (CX) capabilities. AI and NLP will aid in analyzing
the clients’ inquiry or comments and further, convert them into individual
solutions.
The
integration of AI along with NLP can make suggestions based on the history of
information, available customer data, or from the instant responses by the
client. With the use of advanced technologies, seamless communication can be
established between the client and the system. These communications can be
saved for further references by the systems. AI along with NLP, can offer
unique and customized recommendations that are more specific to the customers’
queries. The platform is able to solve multiple channel management problems as
it can be integrated with more than one channel. Also, this generates more
interactions between the client and the company.
Sam Mowers, Investorideas.com
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