#AIEye Episode 453: Synopsys (NasdaqGS: $SNPS) to Collaborate with SiMa.ai on ML Platform, and KB Home (NYSE: $KBH) Introduces #AI Chatbot
Global
Citizen Services AI Market to Exhibit CAGR of 46.4% from 2019-2026
Point Roberts WA, Vancouver BC – October 14, 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: (NasdaqGS:SNPS) (NYSE:KBH)
Synopsys, Inc. (NasdaqGS:SNPS)
has announced a collaboration with SiMa.ai, a
machine learning company, to bring its machine learning inference at scale to
the embedded edge. Consequently, SiMa.ai has adopted products from Synopsys for
the development of its MLSoC, described as “a purpose-built machine-learning
platform targeted at specialized computer vision applications, such as
autonomous driving, surveillance, and robotics.” Krishna Rangasayee, founder
and CEO, at SiMa.ai, explained:
"Working
closely with top-tier customers, we have developed a software-centric
architecture that delivers high-performance machine learning at the lowest
power. Our purpose-built, highly integrated MLSoC supports legacy compute along
with industry-leading machine learning to deliver more than 30x better
compute-power efficiency, compared to industry alternatives. We are delighted
to collaborate with Synopsys towards our common goal to bring high-performance
machine learning to the embedded edge. Leveraging Synopsys' industry-leading
portfolio of IP, verification, and design platforms enables us to reduce
development risk and accelerate the design and verification process."
KB Home (NYSE:KBH)
has announced the launch of a company-wide
AI-powered Chatbot platform aimed at answering home shopper questions, and
streamline the home buying process. The Chatbot’s real-time conversational
interface, which is available 24/7 “with synchronous translation in over 100
languages,” brings together AI, NLP, and automation technologies. Amit Desai,
Chief Marketing Officer of KB Home, said:
"The
homebuying experience is evolving to meet customer demands for rapid
information, more convenience, less pressure and a better overall experience.
In response, we continue to reimagine how buying a home works and are pleased
to offer an innovative, AI-powered Chatbot platform that delivers a superior
online customer experience and makes the homebuying journey even easier.
Chatbot has already delivered improved customer engagement and increased sales
leads."
Global
Citizen Services AI Market to Exhibit CAGR of 46.4% from 2019-2026
Research published by Market Study Report finds that the global
Citizen Services AI market, which was valued at $1 billion in 2018, will
register a compound annual growth rate (CAGR) of 46.4 percent from 2019-2026.
An excerpt from the report summary outlines the role of IT automation in the
market’s growth:
Growing
demand of IT infrastructure in government departments and need of automation
processes are expected to drive the market growth. IT modernization helps in
managing or replacing aging hardware and software solutions with more automated
and innovative solutions. For instance, as per GovLoop, [the] U.S. government
plans to invest 78 percent of USD $82 billion of federal IT spending on IT
infrastructure. Furthermore, 5,233 of the government’s approximately 7,000 IT
investments had been spent on all O&M activities. Such spending has
increased over the last 7 years. Thus, rising IT infrastructure for advancing
and modernizing manual processes is expected to drive the market growth.
Sam Mowers, Investorideas.com
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