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The #AI Eye: IBM (NYSE: $IBM) Watson Health Enters Agreement with Health Quest Systems, Nuance (NASDAQ: $NUAN) Security Suite Saved $1 Billion in Fraud in 2018

AI in Sports to Hit $1.9 Billion by 2024 with CAGR of 32.7%

 

Point Roberts, WA and Vancouver, BC - March 21, 2019 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering Artificial Intelligence (AI) 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: IBM (NYSE: $IBM) Watson Health Enters Agreement with Health Quest Systems, Nuance (NASDAQ: $NUAN) Security Suite Saved $1 Billion in Fraud in 2018

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

AI in Sports to Hit $1.9 Billion by 2024 with CAGR of 32.7%

A report from Mind Commerce and published on In For Growth finds that the AI in sports market will reach $1.9 billion USD by 2024 with a compound annual growth rate (CAGR) of 32.7 percent. Some of the key findings from the report are:

  • AI improves the value of cross-training by team role/position between 9 and 32 percent
  • Up to 65% of long-term cognitive dysfunction due to concussions is preventable through use of AI
  • AI in sports will improve individual and team performance by average of 17% and 28% respectively
  • Top benefits of AI in sports include performance improvement, injury prevention, and recruitment
  • AI will improve revenue, reduce operational costs, and improve valuations of professional sports teams

IBM Watson Health Enters Agreement with Health Quest Systems, Nuance Security Suite Saved $1 Billion in Fraud in 2018 and Datametrex Provides Update for Pilot Program with Empower Clinics

Stocks discussed: (NYSE:IBM) (NasdaqGS:NUAN) (TSXV:DM) (CSE:EPW)

IBM Watson Health (NYSE:IBM) has entered an agreement with Health Quest Systems, Inc. to leverage AI with the aim of increasing participation in clinical trials. IBM Watson Health will deploy cognitive computing system Clinical Trial Matching, which helps clinicians and coordinators more easily and quickly identify trials and potentially eligible patients. Kyu Rhee, Vice President and Chief Health Officer, IBM Watson Health, commented:

"By integrating IBM Watson for Clinical Trial Matching, Health Quest aims to boost clinical trial enrollment and, by providing access to new, cutting-edge treatments, the health system can play a key role in advancing the science of oncology care."

Nuance Communications, Inc. (NasdaqGS:NUAN) has announced that its AI-powered biometrics-based Nuance Security Suite saved $1 billion in fraud costs in 2018. The fraud is detected and prevented through AI technologies including voice and behavioral biometrics, intelligent channel, geo and network detectors, which work together to flag potentially fraudulent patterns. Brett Beranek, General Manager, Security Business, Nuance Enterprise, said:

"Our customers come to us not only wanting to make their authentication process more convenient for customers but perhaps more importantly to evolve their contact center security strategy. Our approach is unique in that our algorithms can not only identify and validate individuals by their voice, but also understand what types of conversation patterns fraudsters typically use. That's powerful when you consider how much money is lost due to fraudulent account access each year, whether through traditional phone channels or in complex cross-channel attacks."

Datametrex AI Limited (TSXV:DM) has provided an update on its pilot program with Empower Clinics Inc. (CSE:EPW), through subsidiary Canntop AI Inc. According to the press release, the program aims "to develop a deeper understanding of patients' awareness of cannabis-based treatment options and the ongoing effectiveness". Empower CEO Steven McAuley said:

"We believe the outcomes of our AI efforts, if successful, could position the Company as an educational leader and we plan to collaborate with the industry to ultimately improve patient care. The powerful AI tools of Canntop are required to successfully analyze the substantial amounts of data in the Empower database and the additional data from the proposed acquisition of the Sun Valley Clinic group, that has a combined 165,000 patients."

Sam Mowers, Investorideas.com


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