The #AIEye - Episode 382: Baidu (NasdaqGS: $BIDU) to
Increase #AI Investments to Promoted “New Infrastructure” and Sonasoft’s (OTC:
$SSFT) AI Solution with DEC Goes Live
Conversational Systems Market to Exhibit CAGR of 26.3%
from 2020-2027 – Driven by AI-Powered Customer Support
Point Roberts WA, Vancouver BC – July 6,
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:
Read
this in full at http://www.investorideas.com/news/2020/artificial-intelligence/07061AIEye-BIDU-SSFT.asp
Today’s
Column- The
AI Eye- Watching stock news, deal tracker and
advancements in artificial intelligence
Stocks
discussed: (NasdaqGS:BIDU)(OTC:SSFT)
Baidu, Inc. (NasdaqGS:BIDU) has announced an increase in its investments into
cloud computing, AI education, AI platforms, chipsets, and data centers in the
next ten years in an effort to create a "new infrastructure" for the
smart economy of the future. According to the press release, this will involve
a bid “to have 5 million intelligent cloud servers by 2030 and train 5 million
AI professionals within 5 years, which will help facilitate the widespread
application of AI in transportation, city management, finance, energy, health
care, and manufacturing to eventually achieve industrial intelligence.” Haifeng
Wang, Baidu’s CTO, explained:
"New
infrastructure--which encompasses emerging technologies like AI, cloud
computing, 5G, IoT, and blockchain--will be the driver for China's economic
development in the coming decades.”
"As
a world-leading AI platform company, Baidu is well positioned to make large
contributions to the development of new infrastructure in China, which will
support the implementation of AI applications in different industries."
Sonasoft Corp. (OTC:SSFT) announced that its new AI solution with
Delaware Electric Cooperative (DEC) went live on June 29. The solution
leverages Sonasoft’s AI Bot Engine, NuGene, to predict peak electricity usage,
allowing DEC greater efficiency and lower costs. Ankur Garg, Chief AI Officer
at Sonasoft, explained:
“The
model combines actual electricity load consumption and weather data to
accurately forecast peak and non-peak days. This model has been trained and
optimized to accurately predict both the type of peak and the precise timing of
the peak. Furthermore, it then makes a precise recommendation for when to
trigger an LC event and send out a Beat-the-Peak notice. This ability to make
intelligent recommendations sets NuGene apart from other AI platforms.”
Conversational
Systems Market to Exhibit CAGR of 26.3% from 2020-2027 – Driven by AI-Powered
Customer Support
A report from Grand View Research finds that the global
Conversational Systems market, which was valued at $5.94 billion in 2019, will
exhibit a compound annual growth rate (CAGR) of 26.3 percent in the forecast
period 2020-2027. The report attributes this growth “to the rising demand for
Artificial Intelligence (AI) powered customer support services.” An excerpt
from the report overview expands on this:
AI-powered
customer support services help businesses in improving various aspects such as
loyalty, online customer experience, preventive assistance, brand reputation,
and even generation of revenue streams. Increasing advancements in Natural
Language Processing (NLP) and dialog-exchanging tools is expected to fuel the
market growth. Increasing deployment of the web business and cloud-based
applications is expected to propel the adoption of NLP tools, thereby creating
growth opportunities for the market.
Sam Mowers, Investorideas.com
For
a list of artificial intelligence stocks on Investorideas.com visit here or become an Investor Ideas member
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