The #AIEye Episode 409: GBT (OTCPINK: $GTCH) Completes Phase I of #AI-Powered qTerm and Microsoft (NasdaqGS: $MSFT) Announces Partnership with Standard Chartered Bank for Digital Transformation
Global
AI in Manufacturing to Reach $18.5 Billion by 2025
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Today’s
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AI Eye- Watching stock news, deal tracker and advancements
in artificial intelligence
Stocks
discussed: (OTCPINK:GTCH) (NasdaqGS:MSFT) (LSE:STAN)
GBT Technologies Inc. (OTCPINK:GTCH) has completed Phase I of its AI-powered human
vitals device qTerm, a joint venture with GBT Tokenize Corp. This first phase
concluded “a user friendly, efficient size and shape for version one,” of the
device, which “could be easily attached to a smart phone or used as a
standalone instrument.” An excerpt from the press release reads:
In
order to join the world's battle against the COVID-19 virus, we are accelerating
version one development with the goal to bring the product into the market as
soon as possible. Version one will be measuring human temperature. If the
reading is of concern, the user will receive a timely visual and audio alert.
qTerm smart phone app will keep a history for the user's records and provide
numerical and statistical data about the user's body temperature.
In
addition, qTerm’s mobile app is designed to be powered by AI, anonymously and
securely collecting the user data, building a worldwide ‘thermal map’ to alert
about potential health risks proximities. The device sizes and shape, including
battery location and PCB board has been determined and now GBT is moving to
Phase II, which is the device circuits implementation and optimization.
Microsoft (NasdaqGS:MSFT)
announced a three-year strategic partnership
with Standard Chartered Bank (LSE:STAN) to accelerate the latter’s digital
transformation through a cloud-first strategy. Bhupendra Warathe, CTO, Cloud
Transformation at Standard Chartered, explained:
"The
pandemic has shone a spotlight on the need for businesses and banks to be
resilient from a risk mitigation, cost and security perspective. With the
increasing trend of an always-on digital economy, commercial and consumer
clients are looking for applications and services that empower them to do
online banking from anywhere, flexibly and efficiently. The speed and scale of
continuous innovation offered by Azure allows us to innovate with the latest AI
services to meet evolving client needs. We can pilot new apps in one market and
scale them rapidly across others. This is especially important for a bank with
a footprint as broad and diverse as ours."
Global
AI in Manufacturing to Reach $18.5 Billion by 2025
A report from Zion Market Research finds that the global AI
in Manufacturing market will grow from $1.1 billion in 2018 to $18.5 billion in
2025 with a compound annual growth rate (CAGR) of 49.7 percent in the forecast
period 2019-2025. An excerpt from the report analysis outlines the role of
predictive maintenance in the market:
The
predictive maintenance analysis works on artificial intelligence (AI)
algorithms and artificial neural networks. Along with downtime cost reduction,
it helps in the extension of equipment’s RUL (Reduction of Life). In case of
unavoidable maintenance, AI informs the technicians [about] advanced inspection
before the situation arises. The emerging need for smart maintenance
application[s] in the manufacturing industry is driving the global artificial
intelligence (AI) in manufacturing market worldwide. Huge initial investments
[into] deploying artificial intelligence (AI) in already existing mechanical
robots are hindering the market. The integration of AI has revolutionized
product designing techniques. The rising demand for generative designs is
estimated to create new market opportunities over the forecast timeframe.
Sam Mowers, Investorideas.com
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