Artificial Intelligence
Insights on the Wealth Management Global Market to 2030 – Identify Growth Segments for Investment
Dublin, Aug. 10, 2020 (GLOBE NEWSWIRE) — The “Wealth Management Global Market Opportunities and Strategies to 2030: COVID-19 Impact and Recovery” report has been added to ResearchAndMarkets.com’s offering.
This report provides the strategists, marketers and senior management with the critical information they need to assess the global wealth management market.
This report describes and evaluates the global wealth management market. It covers two five-year periods, one three-year period, and one six-year period including, 2015 to 2019, termed the historic period, 2019 through 2023, the forecast period, 2023-2025 forecast period, and 2025-2030 the forecast period. The global wealth management market reached a value of nearly $486.78 billion in 2019, having increased at a compound annual growth rate (CAGR) of 6.6% since 2015.
The market is expected to decline from $486.78 billion in 2019 to $446.73 billion in 2020 at a rate of -8.2%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 9.4% from 2021 ad reach $584.99 billion in 2023.
Reasons to Purchase Where is the largest and fastest-growing market for the wealth management market? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The global wealth management market report to 2030 report answers all these questions and many more.
Going forward, increasing retiree population, increasing wealth of high net worth individuals, and rising demand for alternative investments will drive the growth. Factors that could hinder the growth of the wealth management market in the future include COVID-19, Fintech firms, a wide range of services offered by asset managers, and passive investments.
North America was the largest region in the global wealth management market, accounting for 53.7% of the total in 2019. It was followed by Western Europe, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the wealth management market will be Western Europe, and the Asia Pacific, where growth will be at CAGRs of 5.3% and 5.2% respectively. These will be followed by Africa, and North America, where the markets are expected to grow at CAGRs of 5.1% and 4.4% respectively.
The global wealth management market is highly fragmented, with a large number of small players. The top ten competitors in the market made up to 11.9% of the total market in 2019. Major players in the market include Wells Fargo & Company, JPMorgan Chase & Co., Bank of America Corporation, Morgan Stanley, and UBS Group AG.
The top opportunities in the wealth management market segmented by type will arise in the fixed income segment, which will gain $56.7 billion of global annual sales by 2023. The top opportunities in the wealth management market segmented by type of advisor will arise in the human advisory segment, which will gain $87.62 billion of global annual sales by 2023. The top opportunities in the wealth management market segmented by enterprise size will arise in the large enterprises segment, which will gain $56.07 billion of global annual sales by 2023. The top opportunities in the wealth management market segmented by type of wealth manager will arise in the full-service wealth managers segment, which will gain $33.36 billion of global annual sales by 2023.
Key Topics Covered: 1. Wealth Management Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure 6. Introduction 7. Wealth Management Market Characteristics 8. Wealth Management Market, Supply Chain Analysis 9. Wealth Management Market, Product/Service Analysis – Product/Service Examples
10. Wealth Management Market Customer Information 11. Wealth Management Market Trends And Strategies 12. Impact Of COVID-19 On Wealth Management Market 13. Global Wealth Management Market Size And Growth 14. Wealth Management Market, Regional Analysis 15. Global Wealth Management Market Segmentation 16. Global Wealth Management Market Comparison with Macro Economic Factors 17. Asia-Pacific Wealth Management Market
18. Western Europe Wealth Management Market
19. Eastern Europe Wealth Management Market
20. North America Wealth Management Market 21. South America Wealth Management Market
22. Middle East Wealth Management Market
23. Africa Wealth Management Market
24. Global Wealth Management Market Competitive Landscape
25. Key Mergers And Acquisitions In The Wealth Management Market 26. Market Background: Investments Market
27. Recommendations
28. Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/cocxf3
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6.1.1. Segmentation By Geography
6.1.2. Segmentation By Type Of Asset Class
6.1.3. Segmentation By Advisory Mode
6.1.4. Segmentation By Type Of Wealth Manager
6.1.5. Segmentation By Enterprise Size
6.1.6. Segmentation By Type Of Client
6.1.7. Segmentation By Service Element
7.1. Market Segmentation By Type Of Asset Class
7.1.1. Equity
7.1.2. Fixed Income
7.1.3. Alternative Assets And Others
7.2. Market Segmentation By Advisory Mode
7.2.1. Human Advisory
7.2.2. Robo Advisory
7.2.3. Hybrid Advisory
7.3. Market Segmentation By Type Of Wealth Manager
7.3.1. Private Banks
7.3.2. Investment Managers
7.3.3. Full Service Wealth Managers
7.3.4. Stockbrokers
7.3.5. Others
7.4. Market Segmentation By Enterprise Size
7.4.1. Large Enterprises
7.4.2. Medium And Small Enterprises
7.5. Segmentation By Type Of Client
7.5.1. Pension Funds
7.5.2. Insurance Companies
7.5.3. Sovereign Wealth Fund (SWF)
7.5.4. High-Net-Worth Individual (HNWI)
7.5.5. Mass Affluent
7.6. Market Segmentation By Service Element
7.6.1. Asset Management
7.6.2. Portfolio Management And Investment Advisory
7.6.3. Funds, Trusts And Other Financial Vehicles
8.1. Resources
8.1.1. Real Estate, Building And Infrastructure Developers
8.1.2. Office Equipment And Utilities Suppliers
8.1.3. Hardware And Software Suppliers
8.1.4. Human Resources
8.2. Wealth Management Service Providers
8.3. Other Service Providers
8.4. End-Users
10.1. Switching Behavior Among Wealth Management Clients
10.2. Investing Attitudes Among Women
10.3. Use Of Digital Technology By Wealth Management Companies In Hong Kong
10.4. Role Of Research In Wealth Management
11.1. Artificial Intelligence In Wealth Management
11.2. Cybersecurity
11.3. Focus On Hybrid Wealth Management Services
11.4. Growing Popularity Of Automated Advice
11.5. Wealth Management Companies Investing In Big Data Analytics
11.6. Impact Of Changing Demographics On Wealth Management
11.7. Ethical Investing
11.8. Personalized Services
12.1.1. Impact On Wealth Management Companies And Investors
12.1.2. Survey On COVID-19 Concerns Affecting The Wealth And Asset Management Industry
13.1. Market Size
13.2. Historic Market Growth, 2015 – 2019, Value ($ Billion)
13.2.1. Drivers Of The Market 2015 – 2019
13.2.2. Restraints On The Market 2015 – 2019
13.3. Forecast Market Growth, 2019 – 2023, 2025F, 2030F Value ($ Billion)
13.3.1. Drivers Of The Market 2019 – 2023
13.3.2. Restraints On The Market 2019 – 2023
14.1. Global Wealth Management Market, By Region, Historic and Forecast, 2015 – 2019, 2023F, 2025F, 2030F, Value ($ Billion)
14.2. Global Wealth Management Market, 2015 – 2023, Historic And Forecast, By Region
14.3. Global Wealth Management Market, 2019-2023, Growth And Market Share Comparison, By Region
16.1. Wealth Management Market Size, Percentage Of GDP, Global
16.2. Per Capita Average Wealth Management Market Expenditure, Global
25.1. Kingswood Group acquired 85% stake in Chalice
25.2. Forza Wealth Management, LLC merged with K-Mack Financial
25.3. IIFL Wealth Management Ltd. acquired L & T Capital Markets
25.4. IPS Capital merged with Prospect Wealth Management
25.5. Cerity Partners merged with EWM Wealth
25.6. Mercer Advisors Inc acquired Republic Wealth Advisors, LLC
25.7. Canaccord Genuity Wealth Management Acquired Hargreave Hale
25.8. Canadian Imperial Bank of Commerce Acquired Geneva Advisors
25.9. HighTower Acquired WealthTrust
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Artificial Intelligence
Key Tech Stocks Optimizing AI Usability and Infrastructure for a $20-Trillion Future
USA News Group CommentaryIssued on behalf of Avant Technologies Inc.
VANCOUVER, BC, June 21, 2024 /PRNewswire/ — USA News Group – Several big winners have been made already in the ongoing artificial intelligence (AI) revolution. However, there’s clearly none bigger than chipmaking giant NVIDIA Corporation (NASDAQ: NVDA), which just surpassed two of its big tech peers to become the most valued publicly-traded company on the planet. To put it into perspective, NVIDIA’s market cap is currently larger than each of Europe’s largest stock markets, while lucky investors who bet $1000 on NVIDIA stock just ten years ago would be sitting on an extra $297,600 today. Now as analysts are predicting that AI and cryptocurrency could inject $20 trillion into the global economy by 2030, the best minds in the tech sector are moving their pieces into place to secure their piece of the pie. Behind the scenes, tech stocks are optimizing the infrastructure, security, and usability of AI, including new developments from Avant Technologies Inc. (OTCQB: AVAI), International Business Machines Corporation (IBC) (NYSE: IBM), Cloudflare, Inc. (NYSE: NET), and Accenture plc (NYSE: ACN).
Known as a pioneer in the sector for its innovative AI technology, Avant Technologies Inc. (OTCQB: AVAI) has improved its main product, Avant AI™. This sophisticated AI system, celebrated for its advanced machine and deep learning capabilities, is adaptable across a wide range of industries.
In a recent strategic development, Avant has signed a Binding Letter of Intent (BLOI) with Flow Wave, LLC (FW), a Florida-based leader in immersible computer server technology. This agreement allows Avant to acquire up to 50 cutting-edge immersible computer servers from FW in a deal valued at $50 million.
“Avant’s revolutionary AI software platform is poised to transform the landscape of data center management,” said William Hisey, CEO of Avant. “By integrating proprietary machine learning algorithms with open-source innovations into these servers, Avant is developing a highly intelligent system designed to optimize resource allocation, enhance performance, and drive unprecedented levels of efficiency and automation. This marks the beginning of a new era for Avant Technologies, positioning us at the forefront of the supercomputer-driven data center industry and setting new standards for managing and storing AI applications.”
Flow Wave Immersible AI Supercomputer Servers are great for heavy AI and machine learning tasks because they have strong processing power, meaning they can analyze data faster and more efficiently. Their special cooling technology uses less energy, saving money and reducing environmental impact. The servers are also compact and easy to set up, making them ideal for data centers with limited space. Plus, their design helps them last longer and require less maintenance.
Avant plans to tackle the challenges of the digital age by buying up to 50 of these high-performance servers from Flow Wave. These servers, with their advanced cooling technology, boost performance and save energy. This deal shows Avant’s dedication to providing top-notch AI infrastructure and improving efficiency. More details about the transaction will be shared once a definitive agreement is finalized.
One of the most active tech giants in the AI space is International Business Machines Corporation (IBC) (NYSE: IBM), which recently released a new methodology through its IBM Research® wing called LAB (Large-Scale Alignment for ChatBots), through an open-source project called InstructLab with its subsidiary Red Hat®, which IBM acquired for $34 billion in 2019. The InstructLab project builds on the LAB technique for a community-driven approach to language model development through skills and knowledge training.
As well, IBM has teamed up with WPP and LinkedIn to launch a new business-to-business (B2B) solution powered by IBM’s AI and data platform watsonx, designed to reinvent how B2B markets identify and engage clients and prospects across the buying journey. WPP Open for B2B will help marketers solve complex B2B marketing challenges, accurately identify and engage buying groups, and improve clients’ return on investment.
“B2B marketers have been focused on creating truly personalized, relevant and consistent experiences for buying groups at scale for years,” said Jonathan Adashek, Senior Vice President of Marketing and Communications at IBM. “Our collaboration with WPP and LinkedIn provides real-time, actionable insights that are based on trusted data. We are excited to create and use these new, powerful and trusted AI solutions to deliver a force multiplier for B2B marketing.”
Cloud-based security solution provider Cloudflare, Inc. (NYSE: NET) recently announced the general availability of its AI Gateway platform, dubbed as a unified interface for managing and scaling the generative AI workloads of clients. Since its beta launch in September 2023, AI Gateway has handled over 500 million requests and is now ready for full client use.
The general availability release followed upon another Cloudflare announcement of a collaboration with Hugging Face, the leading open and collaborative platform for AI builders, for a one-click-simple global deployment for AI applications. With its Workers AI platform now generally available, Cloudflare became the first serverless inference partner integrated on the Hugging Face Hub for deploying models, enabling developers to quickly, easily, and affordably deploy AI globally, without managing infrastructure or paying for unused compute capacity.
“Workers AI is one of the most affordable and accessible solutions to run inference,” said Matthew Prince, CEO and co-founder, Cloudflare. “With Hugging Face and Cloudflare both deeply aligned in our efforts to democratize AI in a simple, affordable way, we’re giving developers the freedom and agility to choose a model and scale their AI apps from zero to global in an instant.”
Reporting impressive generative AI revenues in its latest Q3 2024 fiscal results has caused shares of Accenture plc (NYSE: ACN) to jump this week, reporting more than $900 million in generative AI bookings in the latest quarter alone.
“Our actions to stay laser-focused on the needs of our clients are clear in our third quarter results,” said Julie Sweet, Chair and CEO of Accenture. “We… achieved two significant milestones this quarter — with $2 billion in Generative AI sales year-to-date and $500 million in revenue year-to-date — which demonstrate our early lead in this critical technology.”
Prior to the financial report, Accenture announced its intent to acquire Italian-based network services company, Fibermind, which specializes in fiber and mobile 5G networks deployment, as well as infrastructure engineering services. Together, Accenture and Fibermind will offer clients network engineering capabilities, deep industry knowledge, and technology assets powered by automation, robotics, data and AI.
Prior to its surge into the position as the world’s most valuable publicly-traded company, NVIDIA Corporation (NASDAQ: NVDA) made a pair of announcements, further cementing its role in the AI revolution.
The first was the announcement of its NVIDIA Omniverse Cloud Sensor RTX, a set of microservices that enable physically accurate sensor simulation to accelerate the development of fully autonomous machines of every kind, allowing developers to test sensor perception and associated AI software at scale in physically accurate, realistic virtual environments prior to real-world deployment.
The second announcement was the NVIDIA AI Computing by HPE, a portfolio of AI solutions and joint go-to-market integrations that enable enterprises to accelerate adoption of generative AI, co-developed with Hewlett Packard (HP).
“Generative AI and accelerated computing are fueling a fundamental transformation as every industry races to join the industrial revolution,” said Jensen Huang, Founder and CEO of NVIDIA. “Never before have NVIDIA and HPE integrated our technologies so deeply – combining the entire NVIDIA AI computing stack along with HPE’s private cloud technology – to equip enterprise clients and AI professionals with the most advanced computing infrastructure and services to expand the frontier of AI.”
All NVIDIA AI Computing offerings by HPE will be available through a combined marketing strategy involving sales teams, channel partners, and training. This strategy includes a global network of system integrators such as Deloitte, HCLTech, Infosys, TCS, and Wipro. These integrators will assist enterprises across various industries in running complex AI workloads.
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
CONTACT:
USA NEWS [email protected](604) 265-2873
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Avant Technologies Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares Avant Technologies Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Avant Technologies Inc. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Avant Technologies Inc. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
View original content:https://www.prnewswire.co.uk/news-releases/key-tech-stocks-optimizing-ai-usability-and-infrastructure-for-a-20-trillion-future-302179234.html
Artificial Intelligence
2024 World Intelligence Expo Begins with a Grand Opening in Tianjin
TIANJIN, China, June 21, 2024 /PRNewswire/ — On June 20th, Tianjin hosted the opening of the 2024 World Intelligence Expo (WIE). Under the theme “Intelligence: Expansive Development Space, Sustainable Growth Driver,” the event was co-organized by the people’s governments of the Tianjin and Chongqing municipalities.
Chinese President Xi Jinping sent a congratulatory letter to the expo, pointing out that AI, as an important driving force for a new round sci-tech revolution and industrial transformation, will have a far-reaching impact on global economic and social development and human civilization progress. In his letter, Xi also noted that China has attached great importance to the development of AI, actively driven the deep integration of the Internet, big data and AI with real economy to cultivate and build the intelligent industry, accelerate the development of new quality productivity, and provide new momentum for high-quality development.
Chen Min’er, secretary of the CPC Tianjin Committee, addressed the opening ceremony of the expo. Wan Gang, chairman of China Association for Science and Technology, delivered the keynote speech. Hu Henghua, mayor of Chongqing; Wu Zhaohui, vice president of Chinese Academy of Sciences; Liu Liehong, head of the National Data Administration; Long Teng, vice minister of the Ministry of Science and Technology; and Shan Zhongde, vice minister of the Ministry of Industry and Information Technology, addressed the expo, respectively. Tianjin Mayor Zhang Gong presided over the opening ceremony.
In his speech, Chen Min’er pointed out that Tianjin has been adhering to sci-tech innovation and industrial innovation at the same time, actively propelling exploration and practical applications in the realm of AI, and accelerating the development of new quality productivity to better empower its high-quality development and living. Chen added, “Leading sci-tech innovation with intelligence, Tianjin will rev up the R&D and application of some key core technologies, vigorously develop the sci-tech service sector, streamline the supply and demand channels for sci-tech achievements, boost sci-tech and innovation parks to improve their quality and efficiency, and accelerate the inter-sector application of AI to help innovation and breakthroughs in the fields of life science, low-carbon technology, and future research.
According to Hu Henghua, Chongqing is speeding up in digital industrialization and industrial digitization to build itself into a new digital economy highland. The 2025 World Intelligence Expo is scheduled to be held in Chongqing. Hu invited everyone to delineate a new AI landscape together, share golden opportunities during the digitization of Chongqing, and co-build a promising future in the AI era.
Wu Zhaohui suggested strengthening the inter-discipline cooperation to consolidate the AI research foundation, enriching AI scenarios with applets, and deepening industry-institute interactions to build an AI innovation ecosystem.
Zeng Yi, chairman of China Electronics Corporation; Chen Zhongyue, chairman of China Unicom; Yang Yuanqing, chairman and CEO of Lenovo; and Zhou Hongyi, founder of Qihoo 360 delivered speeches.
Contact: Xing MeiqiTel: 0086-22-28209030E-mail: [email protected]
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Artificial Intelligence
Tech Developers Pioneering AI Tools to Revolutionize Future Productivity and Logistics
USA News Group CommentaryIssued on behalf of Scope AI Corp.
VANCOUVER, BC, June 21, 2024 /PRNewswire/ — USA News Group – How we embrace this surging adoption of artificial intelligence (AI) in the economy of the future remains up for debate. Already, we’re seeing the impact of AI adoption in the workplace, in culture, and in finance, but it won’t end there. According to Goldman Sachs, AI is showing “very positive” signs of eventually boosting GDP and productivity, while some experts are remarking that the generative AI tech wave is sweeping in much faster (maybe 10x) than early internet. Behind the scenes, tech developers are building AI-powered tools that could potentially revolutionize productivity and logistics in the future, with recent developments coming from Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF), Meta Platforms, Inc. (NASDAQ: META), Amazon.com, Inc. (NASDAQ: AMZN), Microsoft Corporation (NASDAQ: MSFT), and SoundHound AI, Inc. (NASDAQ: SOUN, SOUNW).
As deep machine learning evolves rapidly, Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF) has rebranded and shifted its market focus to target sectors such as advertising, gaming, and neural networks with its advanced GEM (General Enterprise Machine Learning) technology.
Scope AI’s ongoing development of GEM aims to assist businesses in creating custom object detection and visual information systems, maximizing the potential of neural networks. The company’s strategic initiatives are set to potentially revolutionize advertising personalization, gaming enhancements, and various applications of neural networks.
Recently, Scope AI unveiled significant enhancements to GEM, designed to better serve advertising agencies and the gaming industry. These updates aim to optimize advertising content and improve gameplay experiences through advanced neural network functionalities. By the end of May, Scope AI had announced its collaboration with several leading ad agencies and ad networks, to gain insights into the primary challenges these organizations face in analyzing the efficacy of different ad creatives and page layouts, as well as the difficulties and costs associated with testing.
The timing of Scope AI’s assistance in advertising couldn’t be better, as global advertising executives are currently struggling with the injection of AI into their sphere. The worry is that if everyone is using AI for their images, nothing stands out. This is where Scope AI’s potential with GEM rises, in helping these ad execs to better discern their ad campaigns, and how to deliver them.
“Our approach is to start with the pain points of our potential users and build solutions based on those insights,” said James Young, CEO of Scope AI Corp. “We believe in understanding the real-world challenges faced by our partners, rather than falling into the common software trap of ‘build it and they will come.’ This collaboration ensures that GEM is not just another tool, but a solution that addresses the specific needs of the advertising community.”
GEM’s enhanced object visual recognition capabilities are intended to provide businesses with deeper insights and more precise solutions. Consequently, advertisers may potentially analyze consumer behavior more effectively and refine their campaigns, while game developers could create more engaging and immersive user experiences.
“We’re very pleased at how seamless we were able to streamline, enhance, and strengthen our platform with the latest performance and security upgrades made to our infrastructure,” said Sean Prescott, Founder and Non-Executive Chairman of Scope AI. “The next generation of our platform will set us apart in what kind of data and its sensitivity we can process and store. It’s a potential game-changer for the industry.”
Social media platform giant Meta Platforms, Inc. (NASDAQ: META) recently announced an initiative to release new AI research models in order to accelerate innovation at scale. As per the initiative, Meta’s Fundamental AI Research team is publicly releasing several models to accelerate future research and allow others to innovate and apply AI at scale.
According to the accompanying Meta blog post, the company states, “We believe that access to state-of-the-art AI creates opportunities for everyone.”
Meanwhile, however, Meta has also been asked to delay training its AI on data from users in the European Union. After intervention by the Irish Data Protection Commission, Meta now must delay its plan to train its large language models on Facebook and Instagram content from EU users.
“We’re disappointed by the request from the Irish Data Protection Commission (DPC), our lead regulator, on behalf of the European DPAs, to delay training our large language models (LLMs) using public content shared by adults on Facebook and Instagram — particularly since we incorporated regulatory feedback and the European DPAs have been informed since March,” wrote Stefano Fratta, Global Engagement Director for Privacy Policy for Meta in a blog post. “This is a step backwards for European innovation, competition in AI development and further delays bringing the benefits of AI to people in Europe.”
Meanwhile, Amazon.com, Inc. (NASDAQ: AMZN) seems undeterred in Europe, expanding its generative AI listing tools to sellers across the continent. As per the expansion, sellers in France, German, Italy, Spain, and the UK can now leverage the power of generative AI to greatly simplify the process of product listing creation as well as enriching existing product listings to better resonate with customers and help drive sales.
“These generative AI-powered tools simplify the listing creation process, allowing sellers to generate compelling product titles, descriptions, and other details by simply providing a few descriptive words or just uploading a product image,” said Amazon in the accompanying blog post. “We suggest product listings that are high-quality and designed to be engaging for customers in our store. This streamlines operations and allows sellers to focus on other aspects of their business.”
Amazon has long utilized AI to assist its selling partners by pioneering personalized product recommendations based on customer behavior, enabling sellers to highlight relevant products. Advanced machine learning models are used for demand forecasting and inventory management, helping sellers avoid stock shortages. AI-powered pricing tools provide dynamic pricing insights, while recent innovations include generating rich Premium A+ Content and augmented reality visualizations. In fulfillment centers worldwide, AI helps stock products locally to ensure faster deliveries and greater availability of everyday essentials. In Europe, AI reduced the average package travel distance by 25kms in 2023, enhancing delivery speed and sustainability.
Microsoft Corporation (NASDAQ: MSFT) recently decided to delay the release of its Recall AI feature on PCs, based on security concerns. The Recall feature logs activities from web browsing to voice chats, creating a searchable history on the user’s computer. This allows users to easily find and recall actions from months ago.
Experts are already labeling Microsoft as a “frontrunner in the generative AI race”, with analysts expecting big things from the software giant, citing a “strong competitive cloude edge” coming, as they estimate Microsoft’s Copilot deployments could add around $25 billion to the company’s trajectory by fiscal year 2025.
Together with LinkedIn, Microsoft also released the 2024 Work Trend Index on the State of AI at Work, titled “AI at work is here. Now comes the hard part.”
“Generative AI tools have found widespread acceptance in the workplace, and we can see that most employees have placed their trust in AI to help with their daily workloads – without waiting to see if their organization will provide AI tools, services, or directions and guidelines for usage,” said Dhanawat Suthumpun, Managing Director of Microsoft Thailand. “It is critical that business leaders respond to this emerging trend in order to help both the organization and employees make the most beneficial impact from AI – from increased productivity and new capabilities to greater security from well-defined guidance around AI use.”
Global leader in voice artificial intelligence SoundHound AI, Inc. (NASDAQ: SOUN, SOUNW) recently announced the acquisition of key assets from Allset, an online ordering platform that connects restaurants and local customers, to fast-track its vision of a voice commerce ecosystem. Allset is a food ordering platform designed for local pick-up, providing a seamless, cost-effective dining experience that allows both consumers and restaurants to bypass the high fees charged by delivery apps. SoundHound is already a market leader for restaurant voice AI solutions, working with over 10,000 restaurant locations.
“We are thrilled to join forces with SoundHound to combine our established partnerships and marketplace expertise with SoundHound’s class-leading voice AI solutions and capabilities,” said Stas Matviyenko, CEO and Co-Founder of Allset. “From the beginning, we realized that we share the same vision for the voice commerce ecosystem that elevates the consumer experience. This team-up will accelerate our progress toward the next exciting phase of AI-powered ordering convenience.”
Article Source: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/
CONTACT:USA NEWS [email protected](604) 265-2873
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Scope AI Corp. advertising and digital media from the company directly. There may be 3rd parties who may have shares Scope AI Corp., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Scope AI Corp. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Scope AI Corp. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
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