The
#AIEye: Canadian Western Bank (TSX: $CWB.TO) to Implement #AI Solution from
FICANEX and AI Firm Sonasoft (OTC: $SSFT) Announces Appointment of New CFO
AI
in Automotive & Transportation Market to Reach $45.1 Billion by 2024
Point Roberts WA, Vancouver BC – February 13, 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: (TSX:CWB) (OTC:SSFT)
Canadian Western Bank (TSX:CWB) is implementing tunl.chat, an AI-powered
conversational banking tool from digital financial services provider FICANEX,
with the aim of improving the former’s digital client experience. Andrew Obee,
President & CEO of FICANEX, commented:
"We
are thrilled that CWB Financial Group will be the first bank to implement
tunl.chat and take advantage of this very strategic digital channel to improve
customer communications. Our experience with other tunl.chat implementations
has allowed us to create a very robust AI-powered chatbot that will enable
fully automated anywhere and anytime conversations between CWB and their
customers and potential customers alike.”
AI and data engineering firm Sonasoft Corp. (OTC:SSFT) has announced the appointment of Rob Baumert as its
new CFO. Formerly responsible for Finance, Supply Chain, Customer Support and
Data Analytics for online marketplace Redbubble, Baumert presided over the
company’s growth “from $3M in revenues to over $150M” and a successful 2016 IPO
in Australia. The press release indicates that updates regarding the company’s
AI initiatives can be expected “as plans continue to progress.”
Sonasoft had previously announced “that its artificial
intelligence solution, NuGene, was selected to power a new AI marketing
platform by Cognitive ROI.” NuGene is leveraged to model marketing ROI based on
past performance. Ankur Dinesh, Sonasoft’s Chief of Artificial Intelligence,
explained:
“NuGene
goes further than traditional machine learning analysis of data and tests all
correlations to find the ones with the strongest causation, resulting in models
that are more robust and less biased.”
AI
in Automotive & Transportation Market to Reach $45.1 Billion by 2024
A report from Vynz Research finds that the global market
for AI in the Automotive and Transportation industry is expected to reach $45.1
billion by 2024 with a compound annual growth rate (CAGR) of 17.7 percent in
the forecast period 2018-2024. The report cites the “growing adoption of ADAS
(Advanced Driver-Assistance Systems), rising investment in vehicle performance
improvement, and implementation of government regulations for vehicle safety
and security,” as key factors in the market’s growth. Expanding on this, an
excerpt from the Growth Drivers
section of the report description reads:
Growing
demand for improved driving experience with enhanced safety and comfort
features will act as a major driver for the artificial intelligence market for
automotive and transportation industry. Along with that, ADAS and inclination
towards safety and security will act as an addition factor driving the market.
All these factors will impact the artificial intelligence market for automotive
and transportation industry progression in the market in years to come.
Sam Mowers, Investorideas.com
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