The
#AIEye Episode 390: IBM (NYSE: $IBM) and Verizon (NYSE: $VZ) Business
Collaborate for Industry 4.0 and Baidu (NasdaqGS: $BIDU) Tops China’s #AI
Market in IDC Report
Global
AI in Accounting Market to Reach $14.05 Billion by 2027
Point Roberts WA, Vancouver BC – July 16, 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 https://www.investorideas.com/news/2020/artificial-intelligence/07161AIEye-IBM-VZ-BIDU.asp
Today’s
Column- The
AI Eye- Watching stock news, deal tracker and advancements
in artificial intelligence
Stocks
discussed: (NYSE:IBM) (NYSE:VZ) (NasdaqGS:BIDU)
IBM (NYSE:IBM)
and Verizon Business, a division of Verizon Communications (NYSE:VZ),
are entering into a collaboration to work together
on 5G and edge computing innovation to help enable the future of Industry 4.0.
According to the press release, this will involve collaborating on solutions
that bring together “the high speed and low latency of Verizon's 5G and
Multi-access Edge Compute (MEC) capabilities, IoT devices and sensors at the
edge, and IBM's expertise in AI, hybrid multicloud, edge computing, asset
management and connected operations.” Tami Erwin, CEO, Verizon Business,
explained:
"This
collaboration is all about enabling the future of industry in the Fourth
Industrial Revolution. Combining the high speed and low latency of Verizon's 5G
UWB Network and MEC capabilities with IBM's expertise in enterprise-grade AI
and production automation can provide industrial innovation on a massive scale
and can help companies increase automation, minimize waste, lower costs, and
offer their own clients a better response time and customer experience."
Baidu, Inc. (NasdaqGS:BIDU)
has the highest market share and is the largest provider of AI public cloud
services in China, according to a recent report from International Data
Corporation (IDC) titled: China's
Artificial Intelligence Cloud Services Market Research Report (2019).
During a speech at the 2020 World Artificial Intelligence Conference (WAIC) on
July 9, Baidu’s CEO, Robin Li,
"As
an AI platform company that is focused on empowering other organizations, Baidu
hopes that every enterprise, no matter how small, is able to use capabilities
and services provided by our platforms, just like they were water and
electricity, to quickly and easily realize intelligent transformation.”
"Baidu
Cloud relies on AI capabilities and platforms for AI development -- our two
large core advantages -- and has become one of the main drivers of industrial
AI and a leading cloud service provider."
Global
AI in Accounting Market to Reach $14.05 Billion by 2027
A report published by Research and Markets finds that the global
Artificial Intelligence in Accounting market will grow from $454.92 million in
2018 to $14.05 billion by 2027 with a compound annual growth rate (CAGR) of
46.4 percent in that forecast period. The report description cites “rising
requirement of automation in mundane tasks and requirement for advanced
decision making,” as a market driver, but identifies a “lack of skill sets,” as
an impediment to growth. An excerpt from the report description outlines the
uses of AI in accounting:
Artificial
Intelligence in Accounting is used to pull accurate outcome[s] from a large
amount of data without human intervention. It is much more beneficial for
data-driven industries, such as accounting. It is also used for fraud
detection.
Sam Mowers, Investorideas.com
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a list of artificial intelligence stocks on Investorideas.com visit
here
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