The
#AIEye: Microsoft (Nasdaq: $MSFT) Adds New #AI and ML Services to Azure and
Intel (Nasdaq: $INTC) Launches Sentiment Analysis for NLP Platform
Legal
AI Software Market to Hit $1.236 Billion by 2024
Point Roberts WA , Vancouver BC – May 3, 2019 – 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
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Today’s
Column- The
AI Eye- Watching stock news, deal tracker and advancements
in artificial intelligence
Stocks
discussed: (Nasdaq:MSFT) (Nasdaq:INTC)
Microsoft (NasdaqGS:MSFT) has announced new Azure services that allow
developers to leverage AI, mixed reality, IoT and blockchain technologies. For
the AI, the company is launching a new Cognitive Services category and adding
innovations to their machine learning models. Scott Guthrie , executive vice
president, Microsoft Cloud and AI Group, said:
"It's
an incredible time to be a developer. From building AI and mixed reality into
apps to leveraging blockchain for solving commercial business problems,
developers' skill-sets and impact are growing rapidly. Today we're delivering
innovative Azure services for developers to build the next generation of apps.
With 95% of Fortune 500 customers running on Azure, these innovations can have
far-reaching impact."
Intel (NasdaqGS:INTC)
has introduced an Aspect-Based Sentiment Analysis
(ABSA) algorithm to their NLP (Natural Language Processing) Architect platform.
According to the blog announcement:
“Sentiment
Analysis (SA) is the task of detecting subjective information from text. SA is
widely used by business organizations to understand customer opinions on
products and services, enabling the ability to react accordingly. Most academic
and industry research is focused around sentence-level SA, which generates a
single sentiment score (positive/negative) per sentence. While this approach
achieves high accuracy, it has a major drawback: many sentences include more
than one aspect (sentiment target), each with its own sentiment polarity”.
The blog goes on to describe Aspect-Based Sentiment
Analysis (ABSA):
“ABSA
is the task of extracting aspect terms and their related sentiment polarity. This
fine-grained trait of ABSA makes it an effective application for organizations
to monitor the ratio of positive to negative sentiment expressed towards
specific aspects of a product or service, and extract valuable targeted
insight.”
Legal
AI Software Market to Hit $1.236 Billion by 2024
New research from Markets and Markets finds that the legal AI
software market will grow from $317 million in 2019 to $1.236 billion in 2024
with a compound annual growth rate (CAGR) of 31.3 percent. The report
description summarizes the application in contract management and services
segment:
Contract
management application is gaining traction in the global legal AI software
market. Law firms and corporate legal departments spend a significant amount of
time in the contract review process to analyze the risk, and opportunities
associated with the same. Here, AI-powered solutions can help them analyze the
language of the contract and the meaning of the clauses. Also, AI-powered tools
designed for contract analysis can read and analyze incoming contracts and
suggest changes based on predefined rules/policies.
The
services offered in the legal AI software industry are training and consulting,
system integration and testing, and support and maintenance services. The
services play a vital role in the functioning of legal AI software solutions.
The legal AI software vendors require technical support services and consulting
services to manage the deployment of AI-based solutions in the market. With an
increasing need to perform various legal jobs effectively, the demand for
services segment is expected to grow in coming years.
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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