The
#AIEye: IBM (NYSE: $IBM) and #AI in RegTech, Palo Alto’s (NYSE: $PANW) Traps
Designated as “In Process” and Xerox (NYSE: $XRX) Signs Agreement With HCL
Technologies (NSE:HCLTECH)
SAS
to Invest $1 Billion in AI Over Next Three Years
Point Roberts WA , Vancouver BC – March 22, 2019 –
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Today’s
Column- The
AI Eye- Watching stock news, deal tracker and advancements
in artificial intelligence
SAS
to Invest $1 Billion in AI Over Next Three Years
Software and analytics
leader SAS has committed to an investment of $1 billion in AI through software innovation,
education and expert services over the next three years. SAS CEO Jim Goodnight
commented:
"At SAS, we remain dedicated to our
customers and their success, and this investment is another example of that
commitment. With our innovative capabilities in AI, SAS helps businesses deter
damaging fraud, fight deadly disease, better manage risk, provide exemplary
service to customers and citizens, and much more."
An excerpt from the press release reads:
The $1 billion investment in AI will
focus on three main areas: Research and Development (R&D) innovation where
SAS continues to build on the success of its global AI efforts; education
initiatives addressing customer needs to better understand and benefit from AI;
and expert services to optimize customer return on AI projects.
IBM
and AI in RegTech, Palo Alto’s Traps Designated as “In Process” and Xerox Signs
Agreement With HCL Technologies
Stocks
discussed: (NYSE:IBM) (NYSE:PANW) (NYSE:XRX) (NSE:HCLTECH)
IBM (NYSE:IBM) recently published an article examining AI in RegTech, where they
identify the challenges and opportunities associated with the technology. In a
recent webcast hosted by IBM Watson Financial Services, Peter Chirlian, CEO of
IBM company Armanta, explained the state of challenges facing RegTech and what
technological applications are required to address them:
“The sets of information that they’re working with,
risk and regulatory, are getting much larger, they’re moving faster, the data’s
getting more complex,” he said.
“It’s a challenge bringing technologies that can work
with larger sets of data faster [and] answer more complex problems.”
The aforementioned article outlines how AI can remedy
some of these challenges:
AI techniques like NLP will be applied
throughout the entire workflow, significantly improving the speed and
effectiveness of analysts. This “packaging” of AI capabilities will diminish
the need for the wider risk and compliance group to have the advanced skills
needed to use AI, though those skills will continue to be in high demand.
Palo Alto Networks, Inc. (NYSE:PANW) has announced that its Traps endpoint protection and response product has
been designated "In Process" for the Federal Risk and Authorization
Management Program (FedRAMP). Traps provides endpoint security, stopping
cyberattacks with network and cloud security. Nick Urick, vice president
of Federal Sales for Palo Alto Networks and president of Palo Alto Networks
Public Sector, LLC, said:
"We are thrilled to achieve the
FedRAMP 'In Process' status for Traps and look forward to providing U.S.
agencies with endpoint protection and response capabilities that leverage the
power and scale of machine learning and AI to prevent sophisticated attacks.
This milestone signifies that the U.S. public sector has confidence in the
security and threat prevention capabilities of our cloud-based offering and
demonstrates our commitment to protecting the U.S. federal government."
Xerox Corporation (NYSE:XRX) has signed a managed services agreement with India’s
HCL Technologies (NSE:HCLTECH). C Vijayakumar, President and Chief
Executive Officer, HCL Technologies, explained the agreement:
“This expanded partnership is a testament
to the strong Xerox-HCL relationship that has grown through multiple
collaborations over the past 10 years. This is a win-win agreement. Xerox will
benefit from our global scale, best-in-class processes and investments in
artificial intelligence, robotic process automation and transformation tools,
and HCL will benefit from a long-term agreement to provide product support and
administrative services to Xerox.”
Sam
Mowers, Investorideas.com
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