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Artificial Intelligence

Artificial Intelligence Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)

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New York, Aug. 02, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Artificial Intelligence Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” – https://www.reportlinker.com/p06311681/?utm_source=GNW
The Covid-19 debacle has educated business executives with vital insights about digital transformation. The potential that data analytics and artificial intelligence bring to an organization is one of the most compelling teachings. For instance, AI helps push processes, people, and services online in the public sector and compels local, regional, and national governments to embrace AI. In a few months, governments globally have learned to use AI as a weapon to fight against the virus, from educating the public and screening patients to tracking and tracing contacts.

Key Highlights
Artificial intelligence (AI), including computer vision and machine learning (ML), is changing the landscape of the industries. The market for Artificial Intelligence is growing across the globe owing to the growth of data-based AI and advancements in deep learning, and the need to achieve robotic autonomy to stay competitive in a global market is expected to drive the adoption of AI solutions and services.
Moreover, the continuous research and innovation directed by the tech giants are driving the adoption of advanced technologies in industry verticals, such as automotive, healthcare, retail, finance, and manufacturing. For instance, In November 2020, Intel Corporation acquired Cnvrg.io., an Israeli company that develops and operates a platform for data scientists to build and run machine learning models to boost Artificial Intelligence (AI) business. However, technology has always been an essential element for these industries, but AI has brought technology to the center of organizations. With the growing number of enterprises and increasing competition, companies are rigorously trying to integrate artificial intelligence (AI) technology within their applications, businesses, analytics, and services.
The rising trend of multi-cloud functioning and the growing need for cloud-based intelligence services also boosts demand in the market studied. The current AI tools provide cloud computing with innovative and expanded value. This element not only increases process viability overall but is also important for implementing new technologies. AI software also aids in bridging the gap between cloud computing and contemporary advancements. Additionally, it aids in meeting the demands of new businesses and startups.
Consequently, the AI cloud aids in the convergence of two technologies, AI hardware and AI software. Cloud computing and artificial intelligence are combined in an AI cloud hybrid system. It aids in the creation of a cloud environment resembling the human brain. Enterprises can access AI through AI cloud delivery of AI software-as-a-service, allowing them to utilize AI capabilities.
Government initiatives and investments also support the market. For instance, in April 2022, the Government of Canada declared it is investing in businesses and innovative technologies. The Federal Economic Development Agency for Southern Ontario FedDev Ontario announced an investment of over USD 5.7 million for artificial intelligence (AI) company Canvass Analytics Inc. (Canvass AI).
Moreover, automation and intelligent systems are increasingly performing vital business functions by turning silo databases into recommendations for predicting buying patterns. This has been driven primarily by the need for faster and more reliable decision-making among enterprises. For instance, manufacturer and retailer Levi Strauss used Dataiku and Amazon Web Services (AWS) to form a recommendation system that helped the company predict its best-selling products per customer’s region and displayed complementary offerings.

Key Market Trends

Healthcare and Lifesciences Sector is Expected to Register Signifcant Growth

The AI in healthcare is expected to witness a significant growth rate over the coming years owing to the growing datasets of patient health-related digital information, increasing demand for personalized medicine, and the rising demand for reducing care expenses.
Artificial Intelligence (AI) and machine learning (ML) algorithms are being widely adopted and integrated into healthcare systems to accurately predict diseases in their early stage based on historical health datasets. In the life sciences industry, artificial intelligence is generally employed in the R&D capabilities to provide meaningful insights from loosely coupled data. Since the deployment of AI in the life sciences industry is still in its nascent stage, the early adopters of the technology are expected to benefit from the technology, as it is expected to assist them in creating strategic technological capabilities to gain a competitive edge.
AI has become commercially accessible, owing to improved hardware and technological capabilities for computational purposes. Moreover, the accelerated growth and availability of generated data in the life sciences sector have been acting as a complementary factor in the industry to use AI for enhanced analytical purposes.
With innovations and price declines for unit solutions in mobile technology and sensors, contemporary wearables, such as smartwatches and fitness trackers, have enough computing power to generate and process vast amounts of data at a cost-effective investment.
The growing penetration of AI technologies in healthcare applications led to key market participants focusing on product innovation and technological collaborations to expand their product portfolio and meet the ever-increasing demands during the pandemic. For instance, in July 2022, Apollo Hospitals and ConnectedLife collaborated to integrate an AI heart disease risk tool. Doctors will be able to design individualized care regimens for patients because of this connection. The digital health offerings of the Singaporean health tech company ConnectedLife are being integrated by the Indian hospital chain Apollo Hospitals Group with its most recent AI tool for assessing a patient’s risk of cardiovascular disease. The AI CVD tool from Apollo Hospitals delivers a risk score by considering a patient’s lifestyle factors, respiration rate, and blood pressure reading.

North America Accounts For the Largest Market Share

The United States has a strong innovation ecosystem, which is fueled by strategic federal investments in advanced technology, complemented by the presence of visionary scientists and entrepreneurs coming together from the world, and renowned research institutions, which have propelled the development of artificial intelligence in the North American region.
Further, the US Congress passed the omnibus appropriations bill for 2021, which provided funding for several military AI initiatives. The bill supports the artificial intelligence activities of the Department of Defense intended to improve the affordability and effectiveness of military operations. It includes USD 137 million for Joint Artificial Intelligence Center, which was also given new acquisition authority in the 2021 National Defense Authorization Act.
In April 2022, the US Department of Commerce and the National Institute on Standards (NIST) announced members of the inaugural National Artificial Intelligence Advisory Committee (NAIAC), which will be tasked with advising the Biden administration on how to proceed with the national AI governance efforts.
Moreover, to respond to AI opportunities and potential challenges in the healthcare system of Canada, Hoffmann-La Roche Limited (Roche Canada) launched the Roche AI Centre of Excellence (CoE) in November 2020. It is a collaborative center to combine all three national AI institutes’ expertise under the CIFAR Pan-Canadian AI Strategy – Amii, Mila, and the Vector Institute. The CoE will focus on advancing digital transformation in health, with the help of Roche’s history of leadership in health and life sciences, along with the three institutes’ established excellence in AI research and enabling industry application.
The inclusion of public and private sectors to develop and implement AI technology in many sectors is further expected to boost the growing demand for AI in Canada. For instance, in April 2022, an Ottawa-based company is making virtual meetings more productive with its human-like artificial intelligence (AI)-powered meeting assistant. Uncanny Lab Ltd.’s bluecap technology enhances the meeting experience for both hosts and attendees. The company integrates with video conferencing platforms like Google Meets and Zoom. It acts as a meeting assistant, and its basic features include automatic meeting transcriptions, review videos, and concise meeting summaries.

Competitive Landscape

The Artificial Intelligence Market is highly fragmented in nature due to intense competitive rivalry. Levels of market penetration are not massive for any of the prevailing players in the market. Due to the high market growth rate, it is a significant investment opportunity, and therefore, new entrants are entering the market.? Key players are IBM Corporation?, Intel Corporation, Microsoft Corporation, etc.

July 2022 – Intel has announced the launch of the first set of open-source AI reference kits specifically developed to make AI more accessible to organizations in on-premise, cloud and edge environments. These kits allow data scientists and developers to learn how to deploy AI faster and more easily across manufacturing, healthcare, retail and other industries with higher accuracy, better performance and lower total cost of implementation.
June 2022 – Viettel Group and NVIDIA signed a Memorandum of Understanding (MoU) to establish a strategic partnership on using Artificial Intelligence (AI) to advance Viettel and Vietnam’s technology research and solutions. Viettel and NVIDIA will collaborate to accelerate the research and implementation of Viettel’s AI technology in robotics, computer vision, natural language process, digital twins, and other areas by leveraging NVIDIA’s high-performance computing platforms and ecosystems.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06311681/?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.

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GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Invoca Wins CX Today Award for Best Conversational Intelligence Solution of 2024; Launches European Data Centre and Adds UK Sales Leader

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CX Today recognises Invoca as the foremost visionary in the Conversational Intelligence category. Additionally, expands its European presence with a new Data Centre and the appointment of Duncan MacPherson as UK Director of Sales.
LONDON, March 28, 2024 /PRNewswire/ — Invoca, the leading revenue execution platform for revenue teams, has won the CX Today Award for ‘Best Conversational Intelligence Solution’ of 2024. CX Today, the leading international news publication honouring excellence in CX technology, hosted the CX Awards to honour excellence in CX leadership, technology innovation, and industry success.

“Invoca’s exceptional work in conversational intelligence has helped push the category forward, and we are thrilled to see their accomplishments acknowledged at CX Awards 2024,” said Charlie Mitchell, Senior Editor at CX Today and host of the awards.
The award recognises Invoca’s strength in empowering revenue teams across marketing, contact centre sales, and customer experience to enhance buying experiences, increase high-value leads, and boost revenue. For businesses that acquire customers over the phone, Invoca enables these digital marketing and contact centre teams to collaborate to drive revenue growth. Invoca stands out for capturing deep insights from consumer calls and digital interactions and ingesting revenue driven by calls and other metadata from CRM and contact centre solutions, making Invoca the source of truth for consumer engagements.
“We’re thrilled to be named the Best Conversational Intelligence Solution of 2024 by CX Today as we highlight our longstanding vision to help brands acquire customers and grow their revenue,” said Gregg Johnson, CEO of Invoca. “As AI pioneers in this space, having first introduced our broad base of patented AI technologies in 2015, artificial intelligence and machine learning are core to helping companies improve the customer experience and connect the buyer journey.”
The CX Awards’ judging panel, including Dan Miller, Lead Analyst at Opus Research, reviewed hundreds of applications for their organisation’s ability to improve overall customer experience through innovation and high-impact features.
“Invoca continues to demonstrate that they are a clear leader in conversational intelligence AI. We recognised Invoca for their ability to employ a sophisticated blend of AI technologies — including patented machine learning, generative AI, voice biometrics, and deep learning neural networks, to drive revenue,” said Dan Miller, CX Awards judge and Lead Analyst at Opus Research.
Invoca Launches New European Platform and Data Centre Amid U.K. Sales Leadership Expansion
Invoca continues to reinforce its commitment to maintaining data excellence with unwavering reliability and strict adherence to security standards. Protecting customer data privacy remains a top priority, particularly given the heightened concerns surrounding security and privacy. Invoca’s new European platform and localised data centres support its growing customer base by ensuring all customers can adhere to the highest level of enterprise-grade data privacy, and GDPR compliance standards. Invoca’s powerful EU-based infrastructure enables its customers to recreate the same Invoca experience using the full feature suite while maintaining the highest standards of quality.
Invoca has also welcomed Duncan MacPherson as UK Director of Sales. MacPherson brings extensive experience with large companies and start-ups selling customer engagement solutions. This is part of an overall expansion in the UK market, which includes hiring a localised sales and customer success team, sales development, and marketing support.
More Information:
See the results you can get with Invoca’s award-winning conversation intelligence: https://www.invoca.com/customersInvoca’s GDPR Compliance: Everything You Need to Know: https://www.invoca.com/blog/invocas-gdpr-compliance-everything-you-need-to-knowWatch the CX Today Awards winners revealed on demand: www.cxtoday.com/cxawardsJoin Invoca’s talented team today: https://www.invoca.com/company/careersAbout InvocaInvoca is a revenue execution platform that connects marketing and sales teams to help them track and optimise the buying journey to drive more revenue. By using a comprehensive revenue execution platform with deep integrations with leading technology platforms, revenue teams can better connect their paid media investments directly to revenue, improve digital engagement, and deliver the best buyer experiences to drive more sales. With Invoca, top consumer brands, including AutoNation, DIRECTV, Mayo Clinic, Mutual of Omaha, and Verizon, experience unbelievable results powered by undeniable data. Invoca has raised $184M from leading venture capitalists, including Upfront Ventures, Accel, Silver Lake Waterman, H.I.G. Growth Partners, and Salesforce Ventures. For more information, visit www.invoca.com.
About CX AwardsHosted by CX Today, the awards ceremony has become the beacon of recognition for companies and professionals pushing the envelope in the CX technology sphere.
The CX Awards 2024 is here for its fourth year and is bigger and better than ever before! Winners of the 2023 awards included Vonage, Calabrio, and UJET and more. Then, the ceremony included exclusive streams from our people winners, Jay Patel from Webex and Kimberley Wood from Ultimate. Yet, this year’s event featured many more CX leaders who shared their unique takes on the space.
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ASC Achieves Certification for Webex Calling

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ASC announces compliance recording and AI-driven analytics tool for Webex Calling
HÖSBACH, Germany, March 28, 2024 /PRNewswire/ — ASC Technologies, a leading provider of comprehensive recording and analytics tools, announces its successful certification for Webex Calling with Webex by Cisco, a leading provider of collaboration technologies powering hybrid work and customer experience. This certification distinguishes ASC as one of the few global vendors who are authorized to provide record capabilities for Webex Calling communications. This capability is essential for organizations in regulated industries that must adhere to strict compliance standards.

A key benefit of the ASC solution is the simple and fast configuration in the Webex Control Hub, which ensures a high level of user-friendliness. In addition, ASC enables the migration of on-premise solutions to the cloud by seamlessly transferring recordings to the cloud environment. This step enables organizations to accelerate their digital transformation and take advantage of cloud-based services. In addition, AI-driven analytics, powered by ASC’s solutions, help organizations gain a comprehensive view of their communications, enrich customer relationships, and streamline compliance and risk management processes.
“As a stable company that has been established in the market for 60 years, we see the certification for Webex Calling not only as a confirmation of our technological expertise, but also as a promise to our customers and partners,” says Dr. Gerald Kromer, CEO of ASC. “We are committed to providing innovative and reliable solutions that meet the demands of today’s communications technologies while ensuring our customers’ compliance requirements.”
This certification is a further milestone in ASC’s successful partnership with Cisco, which has already existed for 20 years. ASC will be exhibiting at Enterprise Connect in Gaylord Palms, and Cisco Live in Las Vegas, showcasing its innovative recording and analytics solutions and demonstrating the results of its collaboration with Cisco. These events offer a glimpse into how ASC’s solutions drive efficiency and insight.
About ASC
ASC is a worldwide leading provider of software and cloud solutions in the field of omni-channel recording, quality management, and analytics. Among our target groups are all companies that record their communications, especially financial service providers, contact centers, and public safety organizations. We offer solutions for recording as well as AI-based analysis and evaluation of all communications – with full flexibility as a cloud service, on-premise or as a hybrid solution. Headquartered in Germany with subsidiaries in 14 countries and experienced system integration partners in over 60 countries, ASC is the #1 Europe-based player in its industry.
About Webex by Cisco
Webex is a leading provider of cloud-based collaboration solutions which includes video meetings, calling, messaging, events, customer experience solutions like contact center and purpose-built collaboration devices. At Webex, we start with people and their experiences first. This focus on delivering inclusive collaboration experiences fuels our innovation, which leverages AI and Machine Learning, to remove the barriers of geography, language, personality, and familiarity with technology. Our solutions are underpinned with security and privacy by design. We work with the world’s leading business and productivity apps – delivered through a single application and interface. Learn more at webex.com.
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WSPN and MathWallet Jointly Launch StableWallet, Pioneering AA Wallet for Web3

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TORTOLA, British Virgin Islands, March 28, 2024 /PRNewswire/ — WSPN, a global digital payments leader providing transparent, fast, and efficient solutions leveraging distributed ledger technology, has partnered with leading Web3 wallet provider MathWallet to launch StableWallet – a groundbreaking new account abstraction (AA) wallet that represents a major advancement in the Web3 space. StableWallet provides enhanced security, convenience, and flexibility for managing digital assets across multiple blockchains.

“Through our partnership with MathWallet, we are proud to introduce StableWallet, leveraging pioneering AA technology to transform digital asset management,” said Raymond Yuan, Founder of WSPN. “StableWallet exemplifies our commitment to driving innovation in digital payments and the Web3 ecosystem.”
Account abstraction (AA) wallets represent a significant leap forward in the Web3 ecosystem, blurring the lines between traditional private key wallets and smart contract-based accounts. By integrating both functionalities, AA wallets enable users to define their wallets through programmable smart contracts, unlocking a realm of advanced features and customization options.
Leveraging the transformative power of Account Abstraction, StableWallet stands at the forefront of security innovation, offering unmatched protection through advanced programmable recovery mechanisms and robust multi-signature controls. Seamlessly blending security with convenience, StableWallet ensures a user-centric experience by automating gas fees, simplifying transactions, and providing limitless customization possibilities through deep integration of programmable smart contracts.
Beyond its pioneering security measures, StableWallet serves as a pivotal link between the Ethereum and Polygon ecosystems, facilitating effortless asset management across diverse chains through a unified cross-chain interface. At its debut, StableWallet boasts essential features such as native support for Ethereum and Polygon networks, flexibility in fee token options with WUSD and USDT, and the capacity for multi-chain crypto smart contract wallet functionalities.
“We are thrilled to partner with WSPN and jointly unveil StableWallet’s powerful capabilities,” said Eric, CTO of MathWallet. “By combining cutting-edge account abstraction technology with robust security features and cross-chain compatibility, StableWallet empowers users to explore the decentralized realm with unparalleled confidence.”
Looking ahead, StableWallet has an ambitious roadmap to roll out new capabilities that will further elevate the user experience. Upcoming features include daily free transfers, batch transactions with one-click execution, enterprise multi-signature smart wallets, and integration with collaboration platforms, etc. These additions, among others, will continuously expand StableWallet’s functionality to meet evolving user needs in the Web3 space.
Whether for a seasoned cryptocurrency enthusiast or a beginner to the blockchain world, StableWallet offers a powerful tool to revolutionize user experience of digital asset management. Stay tuned for upcoming feature releases and network expansions as WSPN and MathWallet continue to push the boundaries of Web3 technology.
About WSPN
WSPN is a global digital payments company that provides transparent, fast, and efficient digital payment solutions leveraging the latest technological advancements of Distributed Ledger Technology (“DLT”). We are dedicated to shaping seamless digital payment solutions for our global partners worldwide at the frontier of future digital payments and financial inclusion.
Worldwide USD (‘WUSD’), WSPN’s flagship USD stablecoin, is a fiat-collateralized stablecoin that is pegged to the U.S. Dollar at a 1:1 ratio. Dedicated to optimizing payment solutions for web3 users, WUSD empowers the real economy through secure, transparent, and licensed digital payments, spanning stablecoins, exchanges and cards, all geared for global expansion.
Learn more: www.wspn.io  | Twitter | LinkedIn 
About MathWallet
MathWallet is the Multichain Wallet for Web3 that enables token storage of over 150 chains including BTC, ETH, Polkadot, Cosmos, Filecoin, Solana, BNBChain, etc, supports cross-chain token bridges and multi-chain dApp store. Our investors include Fenbushi Capital, Binance Labs, Fundamental Labs, Multicoin Capital, NGC Ventures, Amber Group, 6Eagle Capital.
Visit mathwallet.org for more information.
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