The #AIEye: IBM ( $IBM) to Invest $2 Billion in NY State Including #AI Hardware Center, Pegasystems ( $PEGI) Acquires Infruid Labs and Veritone ( $VERI) Launches Objectbox Detection and Tracking Solution
Global Autonomous Farm Equipment Market to Grow By $62.27 Billion From 2019-2023
Point Roberts, WA and Vancouver, BC - February 8, 2019 (Investorideas.com Newswire) 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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The #AIEye: IBM ( $IBM) to Invest $2 Billion in NY State Including #AI Hardware Center, Pegasystems ( $PEGI) Acquires Infruid Labs and Veritone ( $VERI) Launches Objectbox Detection and Tracking Solution
Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence
Global Autonomous Farm Equipment Market to Grow By $62.27 Billion From 2019-2023
Research from Technavio finds that the market for Global Autonomous Farm Equipment will grow by $62.67 billion USD from 2019-2023 at a compound annual growth rate (CAGR) of nearly 15 percent. An excerpt from the report summary reads:
Lack of labor and low yields have driven the need for autonomous farm technology as it requires minimal human intervention. As a result, there is an increased government expenditure towards the development of autonomous agricultural technology. Governments of several countries are increasingly funding and providing grants for autonomous farm technology projects. With the increasing government support for developing autonomous farm technology, the autonomous farm equipment market will witness considerable growth during the forecast period.
The use of artificial intelligence (AI) in autonomous equipment will be one of key autonomous farm equipment market trends that will gain traction in the coming years. AI is being used in autonomous farm equipment to assist in the machine vision of the equipment that helps in detecting objects during operation. Images or videos captured by cameras on vehicles are processed using AI algorithms for better decisions. The adoption of AI will play a significant role in the growth of the autonomous farm equipment market.
IBM to Invest $2 Billion in NY State Including “AI Hardware Center”, Pegasystems Acquires Infruid Labs and Veritone Launches Objectbox Detection and Tracking Solution
Stocks discussed: (NYSE:IBM) (NasdaqGS:PEGA) (NasdaqCM:VERI)
New York governor Andrew Cuomo has announced that IBM (NYSE:IBM) will invest $2 billion in the SUNY Polytechnic campus in Albany to "grow its high-tech footprint". Part of this investment will include the establishment of an Artificial Intelligence Hardware Center for AI-focused computer chip research, development, prototyping, testing and simulation. Mukesh Khare, Vice President, Semiconductor and AI Hardware, IBM Research said:
"AI will transform the world in dramatic ways in the coming years. IBM is pushing the boundaries of AI faster - for the benefit of industry and society. By expanding our partnership with New York State, we are creating a global hub of AI hardware research with an ecosystem to innovate, incubate, and lead in the development of disruptive technologies."
Pegasystems, Inc. (NasdaqGS:PEGA) has acquired business analytics and data visualization software company Infruid Labs. According to the press release, "by integrating Infruid Labs' advanced interactive visualization capabilities with its leading AI-powered customer engagement and digital process automation (DPA) solutions, Pega[systems] will provide clients with a holistic, streamlined way to visually interpret their data. This will enable users to uncover hidden patterns to make better business decisions. Mahesh Yellai, Infruid founder and now senior director of data & analytics at Pegasystems commented:
"Pega continues to be at the forefront of innovation in AI, decisioning, and analytics, and I am thrilled that Infruid's advanced business intelligence and visualization capabilities will be an integral part of Pega's digital transformation solutions. We're excited to bring our technology to Pega to help clients be leaders in customer engagement and operational excellence."
Veritone, Inc. (NasdaqCM:VERI) has launched the newest cognitive engine in the Veritone Machine Box suite, the AI-based object detection and tracking solution Objectbox. According to the press release, Objectbox "allows developers to train detectors with their own content containing the desired objects to be detected, then deploy the resulting customized cognitive engine within aiWARE". Chad Steelberg, Veritone Co-Founder and CEO commented:
"At Veritone, we are democratizing AI and believe that it will play an increasingly larger role in helping to solve some of our world's most complicated challenges. Our unique AI operating system, aiWARE, together with the hundreds of powerful cognitive engines like Objectbox, and the growing list of applications on the platform, provides a configurable AI infrastructure that is steadily changing how people and organizations understand and extract valuable insights from their ever-growing volumes of data."
Sam Mowers, Investorideas.com
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