Artificial Intelligence
Global Smart Warehousing Market Size, Share & Industry Trends Analysis Report By Deployment Mode, By Technology, By Application, By Component, By Organization Size, By Vertical, By Regional Outlook and Forecast, 2022 – 2028
New York, June 03, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Smart Warehousing Market Size, Share & Industry Trends Analysis Report By Deployment Mode, By Technology, By Application, By Component, By Organization Size, By Vertical, By Regional Outlook and Forecast, 2022 – 2028” – https://www.reportlinker.com/p06283466/?utm_source=GNW
Machines & computers are used in smart warehouse technology to undertake typical warehouse tasks that were previously performed by humans. Receiving and recognizing orders, storing products, counting products, transferring orders to the relevant location, and recalling where orders are all accomplished in smart warehouses. All of these tasks are carried out with no or little errors, due to the use of various technologies like AGV, RFID, IoT, & analytics. The increased usage of modern technologies is a major element driving the market for smart warehousing forward.
In addition, a significant number of smart warehouses is moving toward automation of nearly all operations involved in getting goods from suppliers to customers. As a result, significant increases in the adoption of automation in warehouses throughout the world are expected to expand sales potential in the smart warehousing market in coming years. The introduction of multi-channel distribution networks, as well as the globalization & dynamic nature of supply chain networks around the world, are expected to drive growth in the smart warehousing industry.
Big Data and analytics, Artificial Intelligence, autonomous robotics, augmented reality, as well as the internet of things, are all part of the Industry 4.0 revolution that is revolutionizing modern-day warehouse operations. Moreover, the rising popularity of e-commerce along with the development of digitization is moving the smart warehousing industry forward. Many suppliers throughout the world are incorporating cutting-edge technologies like bar code scanning software, automated guided vehicles, and radio frequency identification technology to improve and speed up supply chain networks while reducing errors. The use of these technologies in warehousing is critical for the development of the market.
COVID-19 Impact
The COVID-19 pandemic caused a severe impact on numerous industries all over the world. Government across various countries imposed lockdown in order to stop the containment of the novel coronavirus. Under these lockdowns, the supply of several goods and services were hampered. Global supply chains have been disrupted by the COVID-19 pandemic, which has outpaced & affected both supply and demand at a faster rate. COVID-19, on the other hand, can also have a long-term impact on the smart warehouse market. As the coronavirus spreads around the world, a transit delay in one region of the world might have a considerable effect on the rest of the world, prompting shutdowns owing to warehouse closures or supplies that are delayed or missing.
Market Growth Factors
The rise in demand for Smartphones as a medium of managing operations quickly & efficiently
The warehouse is an important part of the whole supply chain. Order picking, inventory management, & asset tracking are all labour-intensive operations in the warehouse that can impair overall productivity. As a result, using mobile-based technologies and applications to streamline the entire warehouse process can boost operational efficiencies and enhance the bottom line. Warehouse workers & logistics partners now have access to a multitude of tools and materials due to the widespread use of mobile devices such as smartphones and tablets. The functionality that would benefit warehouse managers to manage the complete warehouse process efficiently includes scanning inventory with barcode scanning apps, viewing the accurate location of a shipment on a map, pulling up detailed shipping information & receiving data, as well as generating reports in less time.
The rising focus on warehouse 4.0 for a more efficient & safer warehouse
Warehouse 4.0 brings together digital and physical systems to create better-linked experiences that will affect the entire warehouse process, from product design and planning to supply chain and production. Warehouses are shifting to a voice-based plus screen-directed inventory picking & restocking process to reduce the time that is spent on the training of new employees. Multi-modal picking, which combines picking with screen-directed picking via mobile devices, is being implemented by businesses. In addition, to build a strong warehouse automation system, IoT, big data & data science, wearable, AR, low-cost sensors, computer vision AI, robots, and high-level computers can be integrated.
Market Restraining Factors
Lesser penetration of smart warehousing across small-scale businesses.
Several small-scale businesses do not have their own warehouses due to the fact that these organizations stock lesser goods in contrast to large organizations. Due to the lower income of small-scale businesses, multiple organizations cannot afford to invest in smart warehousing solutions. Small-scale business owners fail to understand the advantages of smart warehousing solutions due to a hesitation to upgrade existing systems and constrained growth plans. Furthermore, considerable investments and high upfront costs associated with the adoption of smart warehousing systems are also a barrier in the adoption of smart warehousing solutions across various small and medium-sized organizations.
Deployment Mode Outlook
Based on Deployment Mode, the market is segmented into On-premises and Cloud. The cloud-based solutions segment garnered a significant revenue share in the smart warehousing market in 2021. The increasing growth of the segment is due to the rising adoption of cloud-based solutions among both SMEs & Large enterprises, because of new functionalities that are deployed in customized form as per the business requirement, which results in higher customer satisfaction. Furthermore, such solutions provide several advantages, including the capacity to grow their applications, flexibility, and ease of maintenance. As a result, large enterprises and SMEs are increasingly adopting cloud-based solutions
Technology Outlook
Based on Technology, the market is segmented into Automated Guided Vehicles (AGV), IoT & Analytics, RFID, AI in Warehouse, Blockchain & Others. The Automated Guided Vehicles (AGV) segment registered the highest revenue share in the smart warehousing market in 2021. For activities that would normally be managed by forklifts, conveyor systems, or manual carts, automated guided vehicle systems are utilized to move huge amounts of cargo in a repeated manner. AGVs are employed in a wide range of situations. They are frequently utilized to transport raw commodities including plastic, metal, rubber, and paper. AGVs can, for instance, the transfer of raw materials from receiving to the warehouse or deliver goods to production lines directly. AGVs seamlessly deliver raw materials without the need for human interaction, making sure that production processes are never lacking the materials they require.
Application Outlook
Based on Application, the market is segmented into Transport Management, Inventory & Order Management, Yard & Shipping Management, Labour Management, and Others. The Inventory and Order Management segment garnered a substantial revenue share in the smart warehousing in 2021. Order management is the capacity to efficiently manage each customer’s order from receipt to fulfillment. The goal of efficient order processing is to ensure that consumers receive correct products they bought in good condition. Orders cna be delivered through offline or online methods, and warehouses must manage them efficiently to ensure seamless order fulfillment and a better customer experience. To keep track of order status, warehouse managers employ manual logbooks, physical ledgers, or order management systems. Knowing where an order is in the fulfillment process and where it is in the order assists in simplifying the entire process & lowering errors. It’s normal for managers to become overloaded by the number of orders coming in, especially with warehouses growing in size as well as the increased frequency & complexity of online sales with e-commerce enterprises experiencing a spike in consumer orders in recent years.
Component Outlook
Based on Component, the market is segmented into Hardware, Solution (Warehouse Management Systems and Warehouse Control Systems & Others), and Services. The Hardware segment acquired the highest revenue share in the smart warehousing market in 2021. This growth can be attributed to the growing popularity of smartphone devices across multiple verticals, which can quickly deploy inventory management systems & automated picking tools to manage the inventory process and lower total labour costs. Vendors are developing smart warehousing hardware in response to a growth in consumer demand for IoT, sensors, & AI technologies to enhance warehouse operations.
Organization Size Outlook
Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). The Small and Medium enterprises procured a substantial revenue share in the smart warehousing market in 2021. Due to the increasing requirement to improve business operations, reach new consumers, stay competitive, and minimize expenditures, small and medium-sized enterprises are widely adopting smart warehousing solutions and services. In addition, the adoption of smart warehousing services & solutions among SMEs would be driven by the focus of various industry verticals on adopting cutting-edge solutions & processes at a lesser cost.
Vertical Outlook
Based on Vertical, the market is segmented into Transportation & Logistics, Retail & Consumer Goods, Automotive, Government, Healthcare & Life Sciences, Manufacturing, Mining, Food & Beverages, and Others. The Transportation and Logistics segment acquired the highest revenue share in the smart warehousing market in 2021. Maintaining inventory accuracy is one of the most crucial advantages of smart warehousing. From a centralized system, the inventory keeper can keep track the inventory flow in real-time and manage numerous warehouse operations. A user can get accurate information and deliver solutions over the supply chain & logistics network by leveraging the accessibility of smart warehousing solutions. These robots are capable of assisting human workers in a variety of warehouse tasks. They are capable of doing difficult operations such as pickup & installation while letting personnel remain in their current work location. Co-bots can run indefinitely while reducing labour-intensive logistics tasks. Hence the growth of this segment is being driven due to this.
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2021, Asia-Pacific held a significant revenue share of the smart warehousing market. The growth of the regional market is rising due to a significant surge in the technology adoption over all the industries to improve customer experience & productivity. Moreover, the demand for automated warehouse processes for enhanced productivity, efficiency, and accuracy, smart warehousing hardware, solutions, and services is also growing across the region. The smart warehouse technologies that have been introduced enable flexibility and increase staff potential.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; IBM Corporation, Oracle Corporation, SAP SE are the forerunners in the Smart Warehousing Market. Companies such as Epicor Software Corporation, Manhattan Associates, Inc. and Infor, Inc. 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 IBM Corporation, Oracle Corporation, SAP SE, Infor, Inc., Softeon, Körber AG, Manhattan Associates, Inc., PTC, Inc., Tecsys, Inc., and Epicor Software Corporation.
Recent Strategies deployed in Smart Warehousing Market
Partnerships, Collaborations and Agreements:
Jul-2021: SAP SE formed a partnership with Google Cloud to assist in boosting business transformation in the cloud. Google Cloud would enter as a strategic cloud partner for the RISE with SAP. Numerous SAP products & services would be available on Google Cloud, comprising the SAP Data Warehouse Cloud solutions & SAP Analytics Cloud within the SAP Business Technology Platform (SAP BTP).
Jun-2021: Korber joined hands with BALYO, a unifier & developer of advanced autonomous fork-lift robots. This collaboration aimed to offer businesses across the world, the latest technology in autonomous material handling equipment (MHE). Through PL-d level safety sensors and proprietary ‘Driven by BALYO’ technology for autonomous operations, robotic MHE could be effortlessly integrated into prevailing operations without the requirement for additional or change in customers’ infrastructures.
Oct-2020: Infor formed a partnership with Zyllem, a global logistics technology provider. This partnership aimed to digitize & optimize logistics value chains all over the ASEAN. The collaboration would see Infor leverage Zyllem’s SaaS-based distribution platform for Infor Warehouse Management Systems (WMS), comprising key verticals, like logistics, retail, and distribution. This would allow Infor customers to unify their distribution & supply chains smoothly without any interruption, with end-to-end visibility & control all over their networks.
Sep-2020: GEODIS teamed up with IBM, an American multinational technology corporation. GEODIS would combine store & online fulfillment with warehousing & transportation services powered by IBM Sterling Order Management to assist in optimizing demand management. This e-fulfillment network & accessibility to online shoppers would assist retailers to ease integrated order management orchestration capabilities all over physical & digital store environments.
May-2020: Informatica formed a partnership with SAP, a German multinational software corporation. This partnership aimed to streamline the business journey to the cloud by accepting SAP’s data & analytics cloud portfolio and Informatica Intelligent Cloud Services. In addition, the partnership would display the acceptance of SAP Data Warehouse Cloud, which would assist in integration with current data warehouses & a broad set of applications and databases on-premises and in the cloud.
Apr-2020: INTURN came into a partnership with SAP, a German multinational software corporation. This partnership aimed to create a bunch of unique opportunities for both companies, mainly given existing events, to assist the requirements for retailers & brands to effectively conduct remote business in their effort to optimize excess inventory levels, and prevent wastage and working capital.
Feb-2020: Infor came into a partnership with Snowflake, the cloud data platform. This partnership aimed to assist enterprises to create automated data warehouses with the use of Birst’s full-stack analytics & BI platform. With this partnership, customers would take benefit from Birst’s Networked BI automation & intelligence within Snowflake. This would enable customers an optimized experience while removing irrelevant data movement.
Product Launches and Product Expansions:
Feb-2022: Oracle unveiled its Oracle Fusion Cloud Supply Chain & Manufacturing (SCM). It joins shippers’ supply networks with a unified suite of cloud business applications. The updates are for subsets in Oracle Fusion Cloud Global SCM-Oracle Transportation Management (OTM) & Oracle Trade Management (GTM)- & are motivated onto helping shippers raise efficiency and value all over their global supply chains, and also reduce cost & risk, better experience of the customer, & also become more adaptable to business interruptions.
Aug-2021: Manhattan Associates released its new Order Management Digital Self-Service capabilities. It would offer new features like order cancellations, and enhanced order tracking & returns. In addition, Digital Self-Service has been created to join customers with retailers & same-day delivery services at the click of a button.
May-2020: Manhattan Associates unveiled the new Manhattan Management solution, the first-ever cloud-native enterprise-class warehouse management. This solution would unify each and every feature of distribution & never requires upgradation. In addition, Manhattan Active WM is crafted completely from extraordinary elastic & microwaves, hence ushering in the next level of speed, adaptability & ease of use within distribution management.
Acquisitions and Mergers:
Jan-2022: Epicor took over JMO Business Systems, a leading provider of the warehouse management system (WMS), enterprise mobility solutions & related services for automotive aftermarket and original equipment (OE) parts distributors. This acquisition would expand Epicor’s industry-leading portfolio of business growth solutions to virtually every functional area of the automotive parts & service industry. In addition, Epicor would provide a range of solutions & services for substitute parts manufacturers, distributors, program groups, jobbers, retailers, OE dealership groups & several types of vehicle repair businesses consisting of service chains, tire dealerships, fleet maintenance shops, oil & lube businesses, and independent repair facilities.
Scope of the Study
Market Segments covered in the Report:
By Deployment Mode
• On-premises
• Cloud
By Technology
• Automated Guided Vehicles (AGV)
• IoT & Analytics
• RFID
• AI in Warehouse
• Blockchain & Others
By Application
• Transport Management
• Inventory & Order Management
• Yard & Shipping Management
• Labour Management
• Others
By Component
• Hardware
• Solution
o Warehouse Management Systems
o Warehouse Control Systems & Others
• Services
By Organization Size
• Large Enterprises
• Small & Medium Enterprises (SMEs)RFID
By Vertical
• Transportation & Logistics
• Retail & Consumer Goods
• Automotive
• Government
• Healthcare & Life Sciences
• Manufacturing
• Mining
• Food & Beverages
• 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
• IBM Corporation
• Oracle Corporation
• SAP SE
• Infor, Inc.
• Softeon
• Körber AG
• Manhattan Associates, Inc.
• PTC, Inc.
• Tecsys, Inc.
• Epicor Software Corporation
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06283466/?utm_source=GNW
About Reportlinker
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.
__________________________
Artificial Intelligence
Lucinity’s AI Innovation Recognized at Microsoft’s Prestigious Global Partner Awards 2024
REYKJAVIK, Iceland, June 28, 2024 /PRNewswire/ — Lucinity has been recognized as a finalist in the AI Innovation category at the prestigious Microsoft Global Partner Awards 2024, recognizing its breakthrough AI solution and contribution to financial security through its collaboration with Microsoft.
Lucinity beat more than 4,700 companies to be named a finalist at the annual Microsoft Global Partner Awards, which highlights Lucinity’s achievements as a Microsoft partner in optimizing business processes, improving customer experiences, and opening new pathways for digital transformation.
This achievement comes in addition to winning two prestigious awards at Microsoft Partner Awards 2024 last month, including Partner of the Year – Iceland, and the Sustainability and Social Impact award.
The accolade recognizes Lucinity’s significant advancements in AI for financial crime operations, particularly through their AI-powered copilot, Luci. This innovative solution utilizes Microsoft Azure OpenAI technology to integrate advanced generative AI into financial crime investigations and regulatory compliance, optimizing processes and saving significant time and resources for financial institutions.
The Lucinity platform streamlines compliance, provides instant insights, and reduces typical investigation times from three hours to just 30 minutes. The technology can also save financial institutions an estimated $100 million in productivity savings, as well as savings in training and recruitment.
Microsoft comments on Lucinity’s award recognition, saying “Financial crime profoundly impacts our global community, with far-reaching economic, security, and social implications. It can harm a country’s reputation and increase exposure to criminal activities, emphasizing the critical need for robust anti-money laundering initiatives and persistent vigilance. Lucinity, with their innovative AI solutions, has really tried to combat this huge global challenge. They use ‘Human AI’ to enhance financial crime prevention, combining AI with human expertise for efficient, user-friendly solutions. Additionally, Lucinity has developed a tool called Luci, an AI-powered copilot that helps transform financial crime prevention from a process that took hours to one that takes minutes.”
“Being recognized as a finalist at the Microsoft Global Partner Awards is validation of our impactful collaboration with Microsoft in financial crime operations. Our partnership has been pivotal for our innovations, enabling us to use Azure OpenAI to bring tools like Luci to life and deliver impactful results for our clients,” says Guðmundur Kristjánsson, Founder & CEO of Lucinity.
Contact:Name: Celina PabloEmail: [email protected]: +354 792 4321
Logo: https://mma.prnewswire.com/media/2208676/4669079/Lucinity_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/lucinitys-ai-innovation-recognized-at-microsofts-prestigious-global-partner-awards-2024-302186091.html
Artificial Intelligence
Asia Pacific View: Foreigners Looking for the Most Practical Smart Technology at the 2024 World Intelligence Expo
BEIJING, June 28, 2024 /PRNewswire/ — Bionic robots that speak both Chinese and English can have the same skin and nails as humans? A flying car powered solely by wind can have a maximum payload of 160 kg? A smart wheelchair can control its operation with just the “mind”? Kevin and Daria, two foreign bloggers, have experienced during the World Intelligence Expo held in Tianjin how the artificial intelligence can empower people’s future lives in industries such as technology, trade, logistics and cultural tourism.
With the theme of “Intelligent Travel Empowering Future”, the Expo integrates exhibitions, experiences and events, attracting more than 550 exhibitors and institutions from all over the world, including more than 70 well-known enterprises such as Huawei, Alibaba, Baidu and Danfoss, and 57 universities and research institutions such as Peking University, Tsinghua University, Nankai University and Tianjin University. The Expo set up 10 major themes such as artificial intelligence, intelligent networked vehicles, intelligent manufacturing and robots, covering the frontier hot spots of the intelligent industry. A number of cutting-edge new technologies, new products, and new experiences from all over the world were showcased centrally, reminding people that technology will completely change the lifestyles in the future.
At the exhibition site, various intelligent robot products such as humanoid robots, bionic robots, and intelligent robot dogs interact with the audience on the spot. They are no longer fantasies in science fiction or movies, but play an important role in monitoring, rescue, cultural tourism and other fields. In the low-altitude economic exhibition area, a number of drones, flying vehicles, and aerospace technology companies collectively display advanced technology products. A low-altitude aircraft shaped like a helicopter brought by the German company Tensor can independently complete cargo transportation, takeoff and landing according to pre-set routes according to the instructions. Robotic arms incorporating technologies such as 5G, IoT, edge computing, rocker robotics, and artificial intelligence can shoot high-frame-rate video and support autofocus, achieving effects that cannot be achieved in traditional shooting modes. Viewers can also have more novel experiences with the help of smart technology.
The Expo also hosted three major events such as the Asia-Pacific Robotics World Cup Tianjin International Invitational, the World Intelligent Driving Challenge, and the International Intelligent Sports Conference. A number of technological achievements and innovative applications were demonstrated in the competitions. For exhibiting companies, this Expo is also an opportunity to further promote the transformation of enterprises to information technology and digitalization, and will also bring huge business opportunities.
Contact: Guo RanPhone: 008610-68332663Email: [email protected]
Video: https://www.youtube.com/watch?v=VjjzurfN_r0 Logo: https://mma.prnewswire.com/media/2451195/logo_Asia_Pacific_View_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/asia-pacific-view-foreigners-looking-for-the-most-practical-smart-technology-at-the-2024-world-intelligence-expo-302186046.html
USA News Group Commentary
Issued on behalf of Avant Technologies Inc.
VANCOUVER, BC, June 28, 2024 /PRNewswire/ — USA News Group – The world is changing rapidly thanks to artificial intelligence (AI), with what’s being called the Transformative AI era which comes with great benefits and also potential dangers. The economic impacts are global, with a new report from The Bank for International Settlements (BIS) urging central banks to adapt rapidly to AI advances. Now it’s become apparent how important it is for companies to understand how to harness the full potential of GenAI to secure strategic revenue growth in the coming years. The surge of AI’s usefulness is accelerating innovation in R&D, while behind the scenes tech companies are advancing the infrastructure required to keep this revolution going, including new developments from Avant Technologies Inc. (OTCQB: AVAI), Accenture plc (NYSE: ACN), Cloudflare, Inc. (NYSE: NET), Alphabet Inc. (NASDAQ: GOOG, GOOGL), and Amazon.com, Inc. (NASDAQ: AMZN).
Known for pioneering advancements in AI, Avant Technologies Inc. (OTCQB: AVAI) has persistently refined and expanded its premier offering, Avant AI™. This sophisticated AI platform, celebrated for its machine learning and deep learning capabilities, is the culmination of Avant’s efforts to deliver unprecedented and cost-effective compute infrastructure that unlocks the full potential of AI and ushers in a new era of technological advancement.
“There is a real unmet need as rapid growth across the entirety of the AI and big data industries is outpacing the necessary infrastructure for an industry that demands exponential power and capacity while remaining cost effective,” said Avant’s CEO William Hisey in a recent address of progress on AI supercomputer-driven data centers. “Avant’s ‘edge-native’ approach doesn’t rely on cloud-based services so we can offer AI and big data companies many advantages over the more familiar ‘cloud-native’ approach, including, reduced latency, improved security and privacy, increased scalability, and reduced costs.”
In a recent strategic development, Avant entered into a Binding Letter of Intent (BLOI) with Flow Wave, LLC (FW), a prominent Florida-based firm specializing in immersible computer server technology. This agreement allows Avant to acquire up to 50 cutting-edge immersible computer servers from FW, in a transaction valued at $50 million.
“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,” said Hisey. “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 engineered for demanding AI and machine learning applications, delivering powerful processing capabilities that accelerate data analysis. Their cutting-edge cooling system is both energy-efficient and cost-effective, reducing environmental impact. These servers’ compact design facilitates easy installation in space-constrained data centers, and their robust construction ensures longevity and lower maintenance requirements.
In response to digital era challenges, Avant intends to acquire up to 50 of these high-performance servers. Their superior cooling technology boosts performance while conserving energy, aligning with Avant’s goal of providing top-tier AI infrastructure and maximizing efficiency. Additional details about the acquisition will be shared once the final agreement is secured.
In Q3 2024, Accenture plc (NYSE: ACN) brought in over $900 million in new Generative AI bookings, for a total of $2 billion fiscal year-to-date. Despite missing its overall earnings targets, the market responded by sending its shares upward.
“We achieved strong new bookings of over $21 billion, up 22% over last year, and continued to accelerate our strategy to be the reinvention partner of choice, with another 23 clients with quarterly bookings of over $100 million, bringing the total of such bookings to 92 year-to-date,” said Julie Sweet, Chair and CEO of Accenture. “We also 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.”
Back in May, Accenture took steps to help its clients to scale their Generative AI responsibly.
“Clients are eager to embrace the potential of generative AI, and we are ready to help them build responsible AI into every use,” said Sweet. “We do this for ourselves, and we can use that example to help our clients find success faster. Our focus is to enable our clients to innovate AI safely and be ready to seize the opportunities that AI will bring in the decades ahead.”
Recently, the cloud-based security solution provider Cloudflare, Inc. (NYSE: NET) unveiled the general availability of its AI Gateway platform. Marketed as a comprehensive interface for managing and scaling generative AI workloads, the platform has transitioned from its beta phase, which started in September 2023, to full client use after successfully handling over 500 million requests.
This launch coincides with Cloudflare’s announcement of a partnership with Hugging Face, a leading platform for AI developers. The collaboration offers a one-click global deployment for AI applications via the Workers AI platform, now also generally available. As the first serverless inference partner integrated on the Hugging Face Hub, this allows developers to deploy AI models quickly, easily, and cost-effectively on a global scale, without the need for 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.”
In the education space, Alphabet Inc. (NASDAQ: GOOG, GOOGL) through Google, is bringing new AI tools to Google Workspace for teen students using their school accounts to help them learn responsibly and confidently in an AI-first future, and empowering educators with new tools to help create great learning experiences.
“In the coming months, we’re making Gemini available to teen students that meet our minimum age requirements while using their Google Workspace for Education accounts in English in over 100 countries around the world, free of charge for all education institutions,” said Google in a blog post. “To ensure schools are always in control, Gemini will be off by default for teens until admins choose to turn it on as an Additional Service in the Admin console.”
Google has also developed a number of resources and trainings to help students, parents and educators use generative AI tools responsibly and effectively, including a video on how teens can responsibly use AI while learning.
After recently hitting a $2-trillion valuation, Amazon.com, Inc. (NASDAQ: AMZN) continues to be a big player in the AI space. Now it’s reportedly working on its own AI chatbot that some say might be smarter than ChatGPT, named Metis, which will generate answers by grabbing info from the internet.
Metis is driven by an internal Amazon AI model known as Olympus, drawing inspiration from Greek mythology. According to sources, Olympus is a more advanced version of Amazon’s publicly available Titan model.
Amazon’s CEO Andy Jassy has noted that nearly every division within the company is engaged in some form of AI project. As a pioneer in cloud computing, Amazon has been developing machine learning, a subset of AI, for many years. Jassy recently announced that Amazon’s AI initiatives are projected to generate over $1 billion in annual revenue, with expectations of driving “tens of billions of dollars” in sales in the coming years.
However, Amazon has lagged in the realm of consumer AI assistants. An internal document from last year highlighted that Amazon “does not have a publicly or internally available product that looks and works exactly like ChatGPT.”
According to a source reported by Business Insider, the tentative launch date for Metis is September, right around the time when Amazon is set to host a big Alexa event, although the timeline could still change.
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/tech-companies-leading-the-charge-in-the-transformative-ai-era-302185931.html
-
Artificial Intelligence7 days ago2024 Tang Prize Laureates Announced: Six Global Visionaries to Be Honored in Taiwan This September
-
Artificial Intelligence4 days agoRelativity Announces General Availability Date for its Generative AI-Powered Review Solution at Relativity Fest London
-
Artificial Intelligence6 days agoJuniper Biologics Expands Distribution Rights for Caris Life Sciences’ Molecular Profiling in the Middle East and Africa
-
Artificial Intelligence4 days agoSKAN, the Wellcome Sanger Institute and University of Newcastle to study early stem cell mutations in rare blood disorder
-
Artificial Intelligence4 days agoCOMPREDICT Secures $15M Series B Funding Round Led by Woven Capital
-
Artificial Intelligence4 days ago
AI Revolution Accelerates: North American Tech Companies Lead Amid Regulatory Changes
-
Artificial Intelligence4 days agoWorkers embrace AI and prioritise skills growth amid rising workloads and an accelerating pace of change: PwC 2024 Global Workforce Hopes & Fears Survey
-
Artificial Intelligence5 days agoAI Vulnerability Scanning market Size to Grow USD 7,574.30 Million by 2030 at a CAGR of 13.52% | Valuates Reports
