The #AI Eye: IBM (NYSE: IBM) and AI in RegTech, Palo Alto's (NYSE: PANW) Traps Designated as "In Process" and Xerox (NYSE: XRX) Signs Agreement With HCL Technologies (NSE: HCLTECH)
SAS to Invest $1 Billion in AI Over Next Three Years
Point Roberts, WA and Vancouver, BC - March 22, 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) and AI in RegTech, Palo Alto's (NYSE: PANW) Traps Designated as "In Process" and Xerox (NYSE:XRX) Signs Agreement With HCL Technologies) (NSE: HCLTECH)
Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence
SAS to Invest $1 Billion in AI Over Next Three Years
Software and analytics leader SAS has committed to an investment of $1 billion in AI through software innovation, education and expert services over the next three years. SAS CEO Jim Goodnight commented:
"At SAS, we remain dedicated to our customers and their success, and this investment is another example of that commitment. With our innovative capabilities in AI, SAS helps businesses deter damaging fraud, fight deadly disease, better manage risk, provide exemplary service to customers and citizens, and much more."
An excerpt from the press release reads:
The $1 billion investment in AI will focus on three main areas: Research and Development (R&D) innovation where SAS continues to build on the success of its global AI efforts; education initiatives addressing customer needs to better understand and benefit from AI; and expert services to optimize customer return on AI projects.
IBM and AI in RegTech, Palo Alto's Traps Designated as "In Process" and Xerox Signs Agreement With HCL Technologies
Stocks discussed: (NYSE:IBM) (NYSE:PANW) (NYSE:XRX) (NSE:HCLTECH)
IBM (NYSE:IBM) recently published an article examining AI in RegTech, where they identify the challenges and opportunities associated with the technology. In a recent webcast hosted by IBM Watson Financial Services, Peter Chirlian, CEO of IBM company Armanta, explained the state of challenges facing RegTech and what technological applications are required to address them:
"The sets of information that they're working with, risk and regulatory, are getting much larger, they're moving faster, the data's getting more complex," he said.
"It's a challenge bringing technologies that can work with larger sets of data faster [and] answer more complex problems."
The aforementioned article outlines how AI can remedy some of these challenges:
AI techniques like NLP will be applied throughout the entire workflow, significantly improving the speed and effectiveness of analysts. This "packaging" of AI capabilities will diminish the need for the wider risk and compliance group to have the advanced skills needed to use AI, though those skills will continue to be in high demand.
Palo Alto Networks, Inc. (NYSE:PANW) has announced that its Traps endpoint protection and response product has been designated "In Process" for the Federal Risk and Authorization Management Program (FedRAMP). Traps provides endpoint security, stopping cyberattacks with network and cloud security. Nick Urick, vice president of Federal Sales for Palo Alto Networks and president of Palo Alto Networks Public Sector, LLC, said:
"We are thrilled to achieve the FedRAMP 'In Process' status for Traps and look forward to providing U.S. agencies with endpoint protection and response capabilities that leverage the power and scale of machine learning and AI to prevent sophisticated attacks. This milestone signifies that the U.S. public sector has confidence in the security and threat prevention capabilities of our cloud-based offering and demonstrates our commitment to protecting the U.S. federal government."
Xerox Corporation (NYSE:XRX) has signed a managed services agreement with India's HCL Technologies (NSE:HCLTECH). C Vijayakumar, President and Chief Executive Officer, HCL Technologies, explained the agreement:
"This expanded partnership is a testament to the strong Xerox-HCL relationship that has grown through multiple collaborations over the past 10 years. This is a win-win agreement. Xerox will benefit from our global scale, best-in-class processes and investments in artificial intelligence, robotic process automation and transformation tools, and HCL will benefit from a long-term agreement to provide product support and administrative services to Xerox."
Sam Mowers, Investorideas.com
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