The
#AIEye Episode 392: IBM (NYSE: $IBM) Allies with EY for Digital Transformations
and NexOptic (TSXV: $NXO.V) Creates #AI for ISP #Tech
Global
AI in Fintech Market to Reach $13.6 Billion in 2025
Point Roberts WA, Vancouver BC – July 20, 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: (NYSE:IBM) (TSXV:NXO)
IBM (NYSE:IBM)
has announced an enhanced, global multi-year
alliance with professional services giant Ernst & Young (EY) to “help
organizations accelerate digital transformation and improve client outcomes.”
Carmine Di Sibio, EY Global Chairman and CEO, explained:
"The
EY-IBM Alliance is built on providing differentiating and transformational business
value for clients. As organizations learn how to adapt to today's new normal,
leveraging the cloud, AI, analytics and other technologies have become
increasingly important. IBM is a proven leader in hybrid cloud and AI, and
together we're developing innovative solutions to help provide the
sustainability and resiliency that assist clients to operate and lead today,
and in the years to come, as they reframe their future amidst an unpredictable
and rapidly evolving environment."
NexOptic Technology Corp. (TSXV:NXO)
has announced that it has created a “revolutionary
AI that transforms Image Signal Processors (ISP) technology.” According to the press release,
this AI was engineered into the company’s All Light Intelligent Imaging
Solutions (ALIIS), and is “immediately available to OEM customers through
Nexoptic’s alliances with leading semiconductor companies.” Kevin Gordon,
NexOptic’s VP of AI Technologies, commented:
“We’re
now able to leverage the speed and efficiencies of AI accelerators in order to
provide full imaging pipeline solutions to customers. Our ‘end-to-end’
architecture allows OEM’s to side-step the need for hardware ISP’s when using
AI-accelerators, and with the added benefit of improving our existing ALIIS
features.”
Global
AI in Fintech Market to Reach $13.6 Billion in 2025
A report from Market Data Forecast finds that the global AI
in Fintech market will grow from $5.3 billion in 2019 to $13.6 billion in 2025
with a compound annual growth rate (CAGR) of 40.4 percent in the forecast
period 2020-2025. An excerpt reads:
The
Fintech space is one of the fastest growing industries worldwide due to the
increasing penetration of internet users. Users are rapidly switching to mobile
devices for transactions or related actions due to the growing ease and growing
internet user base. Third-party apps have embedded in-app transaction systems
in various areas like the Asia-Pacific. This will raise the bar for
cyber-attacks and the potential for fraud with which the integration of
artificial intelligence is expected to gain ground and drive market growth
during the forecast period. The increasing number of frauds in this industry is
mitigated by using artificial intelligence by collecting big data in which the
machine learns the pattern and monitors user behavior and takes action or
reports accordingly.
Sam Mowers, Investorideas.com
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