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The AI Eye: Global Enterprise AI Market to Hit $9.88 Billion USD by 2023 at CAGR of 51.1%, Stocks discussed: ( $GOOG) ( $BIDU)

Choice Hotels Adopts AWS for Cloud Infrastructure and CEVA Opens R&D Facility in Bristol, UK

Stocks discussed: ( $AMZN) (NYSE: $CHH) ( $CEVA)

 

Point Roberts, WA and Vancouver, BC - January 14, 2019 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a global investor news source covering Artificial Intelligence (AI), in partnership with Gopher Protocol's (OTCQB: GOPH). Avant!, the latest innovation in machine learning, brings you today's edition of The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence.

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The AI Eye: Global Enterprise AI Market to Hit $9.88 Billion USD by 2023 at CAGR of 51.1%, Stocks discussed: ( $GOOG) ( $BIDU)

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Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence

Global Enterprise AI Market to Hit $9.88 Billion USD by 2023 at CAGR of 51.1%

Stocks discussed: (NasdaqGS:GOOG) (NasdaqGS:BIDU)

Research from 360 Market Updates finds that the global enterprise AI market, which was valued at $796.3 million USD in 2018, will grow to $9.88 billion USD by 2023 at a compound annual growth rate (CAGR) of 51.1 percent during that forecast period. An excerpt from the report description reads:

Enterprises are increasingly recognizing the value associated with incorporation of artificial intelligence (AI) into their business processes as they improve operational efficiency and reduce cost, through automation of process flows. Thus, companies are using autonomous processes to improve operations, and change the face of customer service (for example, through AI-powered chatbots), while spurring innovation to new heights. AI is a set of algorithms that can solve a specific set of problems and it works best with a large amount of quality big data.

Also, AI investment is growing fast, dominated by digital giants, such as Google (NasdaqGS:GOOG) and Baidu (NasdaqGS:BIDU). Globally, tech giants spent USD 20 billion to USD 30 billion on AI in 2016, with most of this expenditure on research and development (R&D) and deployment, and remaining on AI acquisitions. Machine learning, as an enabling technology, received the largest share of both internal and external investment.

Choice Hotels Adopts AWS for Cloud Infrastructure and CEVA Opens R&D Facility in Bristol, UK

Stocks discussed: (NasdaqGS:AMZN) (NYSE:CHH) (NasdaqGS:CEVA)

Amazon (NasdaqGS:AMZN) subsidiary, Amazon Web Services (AWS), has announced that Choice Hotels International, Inc. (NYSE:CHH) is adopting AWS for its infrastructure. This will involve migrating over 1,000 applications to AWS, moving off legacy systems to help improve performance, scalability, and reliability. Mike Clayville, Vice President, Worldwide Commercial Sales at AWS explained the move:

"As consumer behavior evolves, the hospitality industry is changing rapidly, and customers are pushing an unprecedented volume of room and service requests through digital channels, which is driving leaders to turn to the cloud to transform their customer engagement, service, and business models."

CEVA, Inc. (NasdaqGS:CEVA) has announced the opening of a new research and development facility in Bristol, UK. The facility will strengthen the company's R&D capabilities and expedite the development of new digital signal processing and AI products. CEVA CEO, Gideon Wertheizer, commented:

"We are very pleased to announce this expansion of our R&D efforts with the opening of this new design center. Bristol has one of the strongest talent bases in the U.K. for digital signal processing, with many highly-skilled and experienced engineers. This new team will allow us to better address the growing demand for our portfolio of leading-edge signal processing IPs and reinforces our position as the world's leading licensor of IP for intelligent, connected devices."

Sam Mowers, Investorideas.com

Read and hear other editions of the AI Eye

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Gopher Protocol's (OTCQB: GOPH) Avant! is the latest innovations in machine learning and is targeted to empower Gopher Protocol's wide range of IoT and mobile technologies. Avant! can be integrated into wide range of applications in a variety of fields among these are business, medicine, engineering, analytics and more. Avant! learns and enhances its expertise based on wide range of data sources and on its own. www.avant-ai.com.

AI expert Dr. Danny Rittman, CTO of Gopher Protocol Inc. (OTCQB: GOPH) is a semiconductor designer with over twenty years of experience with companies such as Intel (NasdaqGS: INTC), DEC, IBM (NYSE:IBM), and Qualcomm (NasdaqGS: QCOM). He has worked on many prestigious Integrated Circuits projects, among them the Intel's Pentium Pro, DEC's Alpha chip and others. Danny was the founder and CTO of BindKey Technologies, an EDA corporation that was acquired by DuPont Photo masks.

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