#AIEye Episode 443: VMware (NYSE: $VMW) Partners with NVIDIA (NasdaqGS: $NVDA) for Next-Gen Cloud and AI, Minerva (TSXV: $MVAI.V)Signs Contract with Miner for New DRIVER Product
Global
AI in Retail Market to Reach $23.32 Billion by 2027
Point Roberts WA, Vancouver BC – September 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: (NYSE:VMW) (NasdaqGS:NVDA) (TSXV:MVAI)
VMware, Inc. (NYSE:VMW) has announced a broad partnership with NVIDIA
Corporation (NasdaqGS:NVDA) aimed at delivering “an
end-to-end enterprise platform for AI and a new architecture for data center,
cloud and edge that uses NVIDIA® DPUs (data processing units) to support
existing and next-generation applications.” Jensen Huang, founder and CEO of
NVIDIA, explained:
"AI
and machine learning have quickly expanded from research labs to data centers
in companies across virtually every industry and geography. NVIDIA and VMware
will help customers transform every enterprise data center into an accelerated
AI supercomputer. NVIDIA DPUs will give companies the ability to build secure,
programmable, software-defined data centers that can accelerate all enterprise
applications at exceptional value."
Minerva Intelligence Inc. (TSXV:MVAI)
has signed a contract with a Canadian intermediate
mining company for its new DRIVER product, which according to the press release
“provides deep insights into previously untapped geometallurgical data.” DRIVER
works with Minerva’s AI to provide geologists with models from which they can
develop drilling strategies. The company’s CEO, Scott Tillman, said:
"Our
work on this project reaffirms the value of Minerva's AI technology for the
mining and explorations sectors. We are gratified that companies are embracing
DRIVER as a critical new tool in their toolbox, and we look forward to
delivering valuable insights into their drilling data.
The
continued validation of our software in the field of mineral extraction is
proving the value of our cognitive AI technology both in the exploration
process and with risk analysis. This new contract should further cement
Minerva's reputation as a cutting-edge solutions provider in these
domains."
Global
AI in Retail Market to Reach $23.32 Billion by 2027
A report published by Fortune Business Insights finds that the global AI
in Retail market will grow from $3.01 billion in 2019 to $23.32 billion by 2027
with a compound annual growth rate (CAGR) of 29.6 percent in the forecast
period 2020-2027. An excerpt from the report summary outlines potential restraints
in the market’s growth:
Well
established retailers are trying every possible way to improve the engagement
of their customers, however certain factors are limiting the AI in retail
market growth. The giant suppliers and global level retailers like Walmart have
already deployed an artificial intelligence-based system to their shops as well
as to online portals. However, small and medium-sized retailers (SMEs) are
still far away from the technology due to a lack of infrastructure and skilled
expertise. The high implementation cost associated with the retail solutions is
also a major barrier for small retailers which is limiting the adoption. These
factors have restricted market expansion across SMEs.
Sam Mowers, Investorideas.com
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