Artificial Intelligence
Global Video Conferencing Market By Component, By Deployment Type, By Application, By Industry Vertical, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027
New York, Aug. 31, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Video Conferencing Market By Component, By Deployment Type, By Application, By Industry Vertical, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027” – https://www.reportlinker.com/p06131539/?utm_source=GNW
By utilizing video conferencing technology, companies get much-needed help in making faster decisions and eliminating travel time and costs attached to it. In addition, it also assists in minimizing the overall operational & management costs while boosting the productivity. The growth of the video conferencing market is anticipated to bolster due to the rising adoption of technologies like facial recognition, to identify and authenticate the participants of a meeting. Moreover, the growing utilization of cloud-based solutions and the implementation of Virtual Reality (VR) in such kinds of solutions have augmented the growth of the market.
The key aspect, which is fueling the growth of the video conferencing market, is the increasing demand for video communication due to the globalization of companies with scattered business operations across the world. There are some fields like online education and telemedicine that are strengthening their foot in emerging nations like India, the Philippines and Brazil, which are significantly propelling the demand for such solutions. At present, there has been a swift increase in the number of online seminars, conferences and international workshops, which is estimated to further surge the demand for video conferencing solutions.
The rising adoption of video conferencing solutions among various large enterprises to set up a communication channel among their employees resides in numerous locations is driving the large enterprises segment. At present, there are many organizations in the IT and telecom industry that has formed long-term agreements with service providers, like Cisco Systems, and Logitech S.A., which would further bolster the segment growth.
COVID-19 Impact
The global Covid-19 pandemic has impacted every section of society, be it individual or businesses. Various kind of impositions like travel ban across the globe, nation-wide lockdown and temporary shutdown of manufacturing units have adversely affected many industries verticals. However, several companies have adopted the work from home culture that created the need for a better medium for communication that further positively impacted the demand for video conferencing solutions.
There are many companies that have increasingly implemented video conferencing solutions for connecting & better communicating with their employees and to carry out business operations more effectively and efficiently during the ongoing pandemic. The remotely working culture during the pandemic has surged the demand for video conferencing solutions and is estimated to continue this trend during the forecast period.
Component Outlook
Based on Component, the market is segmented into Hardware, Solution and Services. The services segment is anticipated to exhibit a substantial growth rate during the forecast period. This growth is attributed to the growing demand for services regarding employee training, project consulting, and deployment of the latest solutions. Small and medium-sized enterprises are implementing such services to swiftly expand their geographical footprints by setting up a centralized communication platform, which can utilize advanced technologies like 4G and VoIP.
Deployment Type Outlook
Based on Deployment Type, the market is segmented into On-Premise and Cloud. The cloud segment is projected to garner significant growth during the forecast period. Cloud-based solutions provide more convenience to end-users by giving them easy access to the video conferencing platform via various channels like mobiles and laptops. In addition, video conferencing vendors are focusing on the implementation of a software-as-a-service platform for video conferencing services, which have influenced a huge number of small- and medium-scale enterprises.
Application Outlook
Based on Application, the market is segmented into Corporate Communications, Training & Development, Marketing & client Engagement and Others. The Corporate Communications market dominated the Global Video Conferencing Market by Application 2020, growing at a CAGR of 15.5 % during the forecast period. The Training & Development market is experiencing a CAGR of 15.7% during (2021 – 2027).
Industry Vertical Outlook
Based on Industry Vertical, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Education, Media & Entertainment and Others. The healthcare segment is anticipated to acquire major growth during the forecast period. This segment is witnessing an increasing adoption of these solutions due to the growing requirement for immediate medical assistance to patients who are located in remote locations. The growing focus of many healthcare companies on the policy of medical training to their employees is using these solutions, which further accelerate the segment growth. In addition, the high adoption of telemedicine services in developed regions has considerably augmented the growth of the healthcare segment. Moreover, the implementation of Electronic Health Records (EHRs) has enabled healthcare companies to provide customized telemedicine services to their patients.
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia-Pacific region is estimated to record the fastest growth rate during the forecast period. The growing number of technology and service-based start-ups in emerging nations like India and China is anticipated to bolster the regional market growth. The robust presence of business and knowledge process outsourcing enterprises in this region is also projected to be among the key aspects augmenting the video conferencing market.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation, Google, Inc., and Amazon.com, Inc. are the major forerunners in the Video Conferencing Market. Companies such as Cisco Systems, Inc., Zoom Video Communications, Inc., Adobe, Inc., and Avaya Holdings Corporation are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, Cisco Systems, Inc., Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Adobe, Inc., Google, Inc., Amazon.com, Inc., Logitech International S.A., Avaya Holdings Corporation, Plantronics, Inc. (Polycom, Inc.), and Zoom Video Communications, Inc.
Recent strategies deployed in Video Conferencing Market
Partnerships, Collaborations, and Agreements:
Jan-2021: Logitech entered into a partnership with Pexip, a leading provider of enterprise video conferencing and collaboration solutions. Under this partnership, Pexip could natively integrate with Logitech’s new generation capabilities of video conferencing solutions to deliver a constant end-to-end customer experience from anywhere.
Nov-2020: Amazon Web Services signed a multi-year agreement with Zoom Video Communications. This agreement extends the relationship among the two companies, allowing Zoom to swiftly scale its service on the leading cloud, increasing the challenges brought by the COVID-19 pandemic, and provide reliable services & continuous innovation for its expanding base of corporate & individual users.
Oct-2020: Avaya teamed up with NVIDIA, an American multinational technology company. Under this collaboration, Avaya integrates the powerful cloud AI solutions from NVIDIA to boost the impact & value of audible, visual & collaborative experiences via the Avaya Spaces app.
Sep-2020: Google partnered with Lenovo Group Ltd., a Chinese multinational technology company. Under this partnership, Google launched its new Google Meet Series One hardware. The Google Meet Series One room kits are developed for organizations, which have embraced the idea of having better flexible, distributed teams in the coronavirus pandemic.
Sep-2020: Zoom Video Communications partnered with Lumen Technologies, an American telecommunications company. This partnership enabled Lumen to provide Zoom as part of its Unified Communications and Collaboration Suite. In addition, Lumen would provide improved services across Zoom’s top-class video-first integrated communications platform to their large and increasing base of customers around the world.
Sep-2020: Poly teamed up with StarLeaf, the global provider of meeting room solutions and video conferencing services for enterprises. Under this collaboration, StarLeaf meetings are accessible on the latest video solutions by Plantronics. Poly’s latest range of video conferencing systems includes Poly Studio X50, Poly Studio X30, and Poly G7500 that support StarLeaf software virtually out of the box, enabling users to implement Poly room systems with the full StarLeaf experience.
Aug-2020: Adobe came into collaboration with Genesys, the global leader in cloud customer experience and contact centre solutions. This collaboration aims to assist companies to achieve a deeper understanding of user context over each touchpoint and break down data siloes among commerce, marketing, sales and service departments.
Aug-2020: AWS came into partnership with Comcast, an American telecommunications conglomerate. This partnership focuses on enabling users to add Amazon Chime to their Comcast bill. In addition, by offering Amazon Chime directly via Comcast Business, and extend the free trial of Amazon Chime Pro to make it easier for companies to stay connected & collaborate when their employees work remotely.
Aug-2020: Zoom Video Communications collaborated with BenQ, the internationally renowned innovator of visual display technology and digital lifestyle devices. This collaboration aims to provide video conference solutions from Zoom Video Communications on its digital signage & interactive displays. The collaboration helps BenQ to fulfil its commitment to meet prevailing and upcoming demands for corporate visual communication and video conferencing.
Aug-2020: Poly joined hands with RingCentral, a leading provider of global enterprise cloud communications, collaboration, and contact centre solutions. Under this collaboration, RingCentral launched RingCentral Rooms for Poly that brings the power and ease-of-use of RingCentral Video to each workspace. It is designed for a flexible and hybrid workforce, the robust and intuitive RingCentral Rooms service would be built into the easy Poly Studio X all-in-one video bars.
Jul-2020: Logitech teamed up with Shure, a global manufacturer of leading audio equipment. Together, the companies would work on a new solution for better customer experiences in meeting rooms via video and audio.
Jul-2020: Amazon Web Services extended its partnership with Slack, a proprietary business communication platform. This expansion aimed to enable Slack users to unlock all of the incredible power & video calling the quality of Amazon’s cloud infrastructure.
Jun-2020: Microsoft teamed up with AVer Information, provider of video conferencing solutions. This collaboration aims to make video conferencing technologies that work effortlessly with Microsoft software. AVer Video Collaboration Solutions for Microsoft would be a comprehensive line of AVer USB video conferencing products designed and certified with Microsoft Teams in mind.
Feb-2020: Logitech formed a partnership with Crestron, a global leader in workplace technology. This partnership aims to provide a premier video conferencing, scheduling, room control, and management experience for rooms of any size.
Feb-2020: Logitech joined hands with Newline Interactive, a manufacturer of award-winning interactive displays, intuitive software, and other interactive innovations. This collaboration focuses on integrating their products into a bundled portfolio to give people the capability to connect & collaborate with others in the same room and around the world.
Jan-2020: Microsoft came into partnership with Genesys, a company that sells customer experience and call centre technology to mid-sized and large businesses. Through the omnichannel customer experience solution Genesys Engage operating on Microsoft Azure, companies would have the safety and scalability they want to tackle the complexities associated with connecting each touchpoint across the customer journey.
Acquisition and Mergers:
Dec-2020: Adobe acquired Workfront, the leading work management platform for marketers. This acquisition would help Adobe with more efficiency, collaboration and productivity benefits to marketing teams that are challenged with siloes work management solutions.
Oct-2020: Cisco took over BabbleLabs, a software company. Through this acquisition, Cisco would bring native noise removal capability to its whole Collaboration product line. Earlier, Cisco aimed at integrating BabbleLabs to provide a top-class audio experience to Webex Meetings customers, at any place and however, they connect through the Webex application.
Sep-2019: Cisco completed the acquisition of Voicea, a privately held voice-focused Artificial Intelligence (AI) technology company. This acquisition aimed to improve Cisco’s Webex meetings, contact centre, calling, and other voice assets with a strong transcription service, which integrates AI and Automated Speech Recognition (ASR) to unleash the power of any collaboration, such as meetings and calls.
Product Launches and Product Expansions:
Feb-2021: Poly launched the Poly Studio P Series. This series is the professional-grade personal video conferencing tool developed to uplift the game of the remote worker. These video conferencing devices provide the freedom, confidence, and professional edge to look and sound best wherever duty calls.
Jan-2021: Zoom Video Communications introduced more than 400 features in 2020 to improve the customer experience. These features and additional functionality to their key video communications solution assist customers to connect and collaborate effortlessly across the video at the time these trying times. The most important features consist of co-host offerings for managing Breakout Rooms, spotlighting & multi-pinning video feeds, the capability to utilize slides as a virtual background, High-Fidelity Music Mode, etc.
Dec-2020: Cisco introduced a wave of Webex innovation to assist companies to collaborate effortlessly and transform their employee & customer experiences. In addition, more than 50 innovations introduced into three groups including effortless collaboration, intelligent customer experiences, and smart hybrid work experiences, everything based on the rock-solid safety and privacy synonymous with Cisco.
Dec-2020: Cisco expanded its portfolio of collaboration devices developed to empower the remote worker and allow a secure return to the office. These new devices that joined the company’s intelligent Webex device portfolio are Webex Desk Hub, Webex Desk Camera, and Webex Desk.
Nov-2020: Microsoft Teams launched a free day-long video and voice calling option on the platform. Almost 300 participants can be added for 24 hours long. With the all-day free calling feature, Microsoft Teams customers would also give the choice to involve up to 250 participants in a group chat and display 49 participants on the screen in the virtual chats.
Nov-2020: Huawei unveiled its global video conferencing solution, Huawei Cloud Meeting in the Asia Pacific region. This launch aimed to connect remote workers, users and partners in the ongoing Covid-19 pandemic. Huawei Cloud Meeting helps in hosting a meeting of up to 1000 participants at the same time from any terminal or device.
Jul-2020: Microsoft introduced a set of new features in Microsoft Teams. It develops virtual interactions more organic & engaging, complementing the global shift into a better hybrid model of work, learning and life. Through this latest Microsoft Teams features, customers could enjoy more connectivity, decreased meeting fatigue & better inclusive meetings, along with saving time. These features include together mode, live reactions, video filters, touchless meeting experiences and many more.
Jul-2020: Zoom launched a new product, Zoom For Home. This product is the first hardware product, is focused on an increasing number of people whose remote work includes a significant amount of time spent on Zoom calls with clients, colleagues, and suppliers.
May-2020: Huawei introduced its next-generation IdeaHub series intelligent endpoint for the all-scenario smart office ecosystem. This launch focuses on increasing efficiency for enterprises, especially remote collaboration at the time of social distancing. Huawei IdeaHub is a new productivity tool Huawei made to develop an all-scenario smart office in this Cloud era.
Scope of the Study
Market Segments covered in the Report:
By Component
• Hardware
• Solution
• Services
By Deployment Type
• On-Premise
• Cloud
By Application
• Corporate Communications
• Training & Development
• Marketing & client Engagement
• Others
By Industry Vertical
• BFSI
• IT & Telecom
• Healthcare
• Retail & eCommerce
• Government & Defense
• Education
• Media & Entertainment
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Microsoft Corporation
• Cisco Systems, Inc.
• Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
• Adobe, Inc.
• Google, Inc.
• Amazon.com, Inc.
• Logitech International S.A.
• Avaya Holdings Corporation
• Plantronics, Inc. (Polycom, Inc.)
• Zoom Video Communications, Inc.
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• Highest number of market tables and figures
• Subscription based model available
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• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06131539/?utm_source=GNW
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ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.
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Artificial Intelligence
Rainbow Robotics begins pre-orders of Bimanual Mobile Manipulator RB-Y1, the world’s first research platform for AI experts for $80,000 USD
DAEJEON, South Korea, May 9, 2024 /PRNewswire/ — Rainbow Robotics(CEO Jungho Lee), a robot platform specialized company, will begin pre-orders for the Bimanual Mobile Manipulator RB-Y1 from May 8.
During the pre-order period, the research platform is sold for $80,000 USD and the commercial platform is sold for $120,000 USD (VAT excluded). Products are scheduled to be delivered sequentially starting in October.
RB-Y1 is a research platform that has both arms with 7 degrees of freedom per arm for smooth movements similar to human movements. It is a humanoid-like robot with a single leg with 6 degrees of freedom on a mobile platform for a wide work radius. The LiDAR system is adopted for autonomous movement, and a high-performance 3D recognition sensor and master ARM are provided as options to increase usability. In line with the recent trend of the AI era, Rainbow Robotics plans to provide various APIs and options so that AI developers can easily utilize them for research purposes.
Recently, various organizations are introducing humanoid robots. However, they are only used for their own purposes and there is no standard platform for various AI robot researchers. Rainbow Robotics’ RB-Y1 is the first to commercially sell such a research platform.
Unlike existing simple industrial robots, a Bimanual Mobile Manipulator is a humanoid robot that uses both arms and is suitable for advanced manufacturing sites and services. It is a next-generation robot platform that can be used for complex assembly, manufacturing, and collaboration beyond existing simple automation processes.
If you would like to pre-order RB-Y1, please contact us through enquiry page or email us at [email protected].
Meanwhile, Rainbow Robotics will participate as a bronze sponsor in the IEEE International Conference on Robotics and Automation (ICRA 2024), which will be held at Pacifico Yokohama, Japan on May 13.
During the exhibition, various demonstrations will be shown of controlling RB-Y1 with real-time remote operation technology, which links the data arm and simulation system. Additionally, Rainbow Robotics plans to exhibit the small, high-precision collaborative robot RB3-730 and the quadruped robot RBQ-10.
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Artificial Intelligence
AgriBusiness Global™ Announces 2024 Event Line-Up: Connecting Crop Input Leaders Worldwide
WILLOUGHBY, Ohio, May 8, 2024 /PRNewswire/ — AgriBusiness Global, the premier business source for leaders in the global crop input value chain, is thrilled to announce its lineup of events for 2024. For 37 years, AgriBusiness Global has been the go-to resource for quality, trustworthy information and analysis, leading the industry in providing the next generation of crop solutions covering synthetic crop protection, biologicals, and plant health.
In 2024, AgriBusiness Global will host three events, each designed to connect industry leaders, promote innovation, and drive business growth:
AgriBusiness Global℠ LATAM Conference Date: 14-15 MayLocation: Panama City, Panama
Capitalizing on Emerging Technologies in LATAM
The ABG LATAM Conference will bring together industry experts and influencers to discuss the latest trends and developments in crop protection, plant health, biologicals, and ag technology specific to the Latin American region. The Latin-American market offers new opportunities for business growth and partnerships with leading players in the region. Learn More>
AgriBusiness Global℠ Trade Summit Date: 7-8 AugustLocation: Orlando, Florida, USA
The #1 Global Agribusiness Event- Dedicated to Worldwide Networking and New Business Development
The ABG Trade Summit is the trusted forum for advancing development in the rapidly emerging global crop protection, ag tech, plant health, and biological sectors. Attendees can expect to meet with the world’s leading manufacturers, exporters, trading companies, sellers, formulators, and consultants. Trade Summit facilitates global trade by offering educational sessions, a robust exhibit floor, private meeting rooms, and dedicated networking opportunities for the world market to connect, engage, and build business. Learn More>
AgriBusiness Global℠ SE Asia ConferenceDate: 6-7 NovemberLocation: Jakarta, Indonesia
Empowering Southeast Asia’s AgriBusiness for Global Impact
The ABG Southeast Asia Conference, produced in cooperation with the Indonesian CropCare Association, will showcase cutting-edge technologies and innovations in crop production, addressing the unique challenges and opportunities in the Southeast Asian market. Attendees will gain unique insights to prepare for the future and navigate the present in the rapidly evolving agricultural market. Learn More>
“Our events are dynamic platforms for industry leaders to connect, collaborate, and drive innovation,” said Eric Davis, Group Director at AgriBusiness Global. “We are excited to bring together the brightest minds in the industry to explore new ideas, foster partnerships, and shape the future of agriculture.”
For information about the 2024 events and how to participate, visit AgriBusinessGlobal.com.
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Artificial Intelligence
Economic Shifts Ahead as AI Integrates Deeply into Work and Society, Fueling $4.4 Trillion Growth
USA News Group News Commentary
Issued on behalf of Scope AI Corp.
VANCOUVER, May 8, 2024 /PRNewswire/ — USA News Group News Commentary – New developments in AI technology are currently changing the face of work, economies, and society as we know it, according to analysts at McKinsey & Company who are projecting generative AI (gen AI) could add $4.4 trillion annually to the global economy. Between January and March of this year alone, the world’s largest cloud-computing giants have collectively invested $40 billion mostly into data centres equipped to deal with growing AI workloads, according to The Economist. The shift is leading experts to witness how AI companies are leading a transition from Software-as-a-Service to Service-as-Software, turning the table on the very essence of SaaS, representing a $4.6 trillion opportunity. A variety of tech companies have recently advanced the integration of AI, providing swift, safe, and cost-effective solutions for businesses to adopt artificial intelligence technology this past week, including: Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF), Meta Platforms, Inc. (NASDAQ: META), Amazon.com, Inc. (NASDAQ: AMZN), Apple Inc. (NASDAQ: AAPL), and C3.ai, Inc. (NYSE: AI).
The article continued: Seeing the extraordinary speed of AI’s advancements and impacts, combined with surging private- and public-sector demand, is causing regulators in the USA and EU to issue legislation calling for action. Now analysts are trying to determine whether the GenAI boom is setting up to be another bubble, or a legitimate long-term investment opportunity.
SCOPE AI PROVIDES CORPORATE UPDATE
Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF) (FSE: VN8) (“Scope” or the “Company”) today provided an update on new developments of Scope’s artificial intelligence driven recognition technology called GEM (General Enterprise Machine Learning) system. Built on advanced visual recognition and neural network technology, GEM could advance industries, including Advertising and Gaming, by providing them with new insights and capabilities.
Advertising: GEM aims to enable advertising businesses to personalize ad content based on real-time user behavior analysis. By leveraging visual recognition technology, companies can create highly targeted and engaging ads, maximizing return on ad spend and driving customer engagement to new heights.
Gaming: In the gaming industry, GEM aims to enhance user experiences by customizing gameplay and recommendations. By analyzing player behavior using neural networks, GEM provides customers and developers with invaluable insights with the intention of optimizing game design, increasing user retention, and maximizing revenue potential.
Unveiling Neural Networks: Neural networks are the foundation of GEM’s technology. These complex algorithms mimic the structure and functionality of the human brain, enabling machines to learn from vast amounts of data and make intelligent predictions and decisions. By harnessing the power of neural networks, GEM offers comprehensive capabilities in advanced pattern recognition, data analysis, and decision-making across industries.
“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 the kind and sensitivity of data we can process and store. It’s a potential game-changer for the industry.”
Scope’s GEM platform includes advanced features designed to enhance user experience and security, all while streamlining operations. Built-in customer support and user management modules allow for seamless assistance, while the native referral system fosters user engagement and growth. Along with the full admin suite for comprehensive analysis and reporting, businesses are fully empowered with unparalleled capabilities and insights.
CONTINUED… Read this and more news for Scope AI at: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/
In other industry developments and happenings in the market this week include:
Meta Platforms, Inc. (NASDAQ: META), the parent company of Facebook, Instagram, and WhatsApp, recently teamed up with the Georgia Institute of Technology to create a massive open dataset to advance AI solutions for carbon capture, a technology with promising potential to address global climate concerns. As per the collaboration, Georgia Tech and Meta say their massive database could potentially make it easier and faster to design and implement new direct air capture technologies.
“The open-source database enabled the team to train an AI model that is orders of magnitude faster than existing chemistry simulations,” said Georgia Tech in a press release. “The project, named OpenDAC, could accelerate climate solutions the planet desperately needs.”
Researchers at Meta’s Fundamental AI Research (FAIR) team were already looking for ways to harness their machine-learning prowess to address climate concerns. They ultimately landed on direct air capture as what they believed to be a promising technology, and immediately reached out to Georgia Tech. FAIR’s lead authors generated the database by running quantum chemistry computations on inputs provided by Georgia Tech’s team, using about 400 million CPU hours along the way, and surpassing several hundreds of times more computing than the average academic computing lab can do in a year.
Amazon.com, Inc. (NASDAQ: AMZN) through its global Amazon Web Services (AWS) cloud system subsidiary recently rolled out its new AI system called Q, which it has dubbed as “the most capable generative artificial intelligence (AI)-powered assistant for accelerating software development and leveraging companies’ internal data.”
As well, Amazon also recently launched its Custom Model Import for Bedrock tool, which CEO Andy Jassy called a “sneak big launch as it satisfies a customer request we’ve heard frequently and that nobody has yet met.” The tool allows customers to import custom models they’ve built in Amazon SageMaker into tits Amazon Bedrock platform. Doing so lets enterprises utilize AI investments they’ve already made, while also leveraging Bedrock’s capabilities to scale their models and applications.
“Customers are excited about this, and as more companies find they’re employing a mix of custom-built models along with leveraging existing LLMs,” said Jassey. “The prospect of these two linchpin services in SageMaker and Bedrock working well together is quite appealing.”
Apple Inc. (NASDAQ: AAPL), whose iPhones currently hold the Top 4 (and 5 of the Top 10) best-selling smartphone models by sales, recently reported an all-time revenue record in sales in its most recent financial results. While being seen as potentially late to the game on AI, several reports in recent weeks has suggested that Apple is not only talking to OpenAI and/or Google about powering some of its AI features, it’s also been reportedly spending “millions of dollars a day” training its own AI model, called Ajax.
Now industry experts are saying the iPhone is about to become an “AI phone”, in anticipation of Apple’s upcoming iOS 18. A key anticipated feature of iOS 18 is Apple’s own large language model (LLM), similar to the technology behind AI chatbots like ChatGPT. It’s widely speculated that this Apple-developed LLM will be integrated with Siri, enhancing the capabilities of the iPhone’s digital assistant. As indicated by Bloomberg in late April, it’s suggested that Apple’s LLM will be entirely on-device, meaning the tech will be powered inside by the iPhone’s processor, rather than in the cloud—which may be a bit less powerful and knowledgeable, but with far quicker response times.
C3.ai, Inc. (NYSE: AI), an Enterprise AI application software company, is actively working to enhance the petroleum industry in Houston, through a cooperative effort that allows oil and gas companies to share AI technology and applications with each other. This effort is meant to curb companies from withholding information from competitors, with the goal of collaboration instead.
“We’re building the applications that are, you know, monitoring every device on every offshore oil rig in real time so that they can see with 18 hours in advance before something fails and just shut it down,” said Tom Siebel, CEO of C3.ai. Siebel has explained that AI is at work in oil and gas, diagnosing issues and assisting with maintenance, giving the example of a giant like Shell uses AI to track their half a million valves around the world.
“They can see what’s going on,” said Siebel. “They can predict when a valve is going to be stuck open or closed before it happens, and if one of these valves gets stuck open or closed, things go real bad, real fast, right? And so, they’ve decided to make these applications available to Aramco, Eni, Chevron, Phillips.”
A recent report from Research and Markets predicted that the global AI in oil and gas market is expected to surge to an impressive $5.96 billion by 2028, growing at a CAGR of 13.3%.
Article Source: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/
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