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The AI Eye: PenFed Launching Salesforce (NYSE: CRM) Powered Digital Banking Platform, IBM (NYSE: IBM) Collaborating with Thomson Reuters on AI RegTech Solution

 

Point Roberts, WA and Vancouver, BC - May 1, 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: PenFed Launching Salesforce (NYSE: $CRM) Powered Digital Banking Platform, IBM (NYSE: $IBM) Collaborating with Thomson Reuters on AI RegTech Solution and NICE (Nasdaq: $NICE) Report Finds Contact Centres Are Confident in AI

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

Stocks discussed: (NYSE:CRM) (NYSE:IBM) (NYSE:TRI) (NasdaqGS:NICE)

The U.S.'s second-largest federal credit union, PenFed, and Salesforce.com, inc. (NYSE:CRM), have announced that the former is launching a digital banking platform powered by Salesforce Financial Services Cloud and Community Cloud. In addition to the cloud, PenFed will leverage Salesforce Einstein bots for machine learning and natural language processing capabilities to automate routine service requests and speed up resolution time.

IBM (NYSE:IBM) and Thomson Reuters (NYSE:TRI) are collaborating on an AI RegTech solution to help banks with regulatory compliance challenges. Alistair Rennie, General Manager - Watson Financial Services, IBM, explained the project:

"Combining worldwide regulatory-specific content, AI and advanced analytics, IBM OpenPages with Watson provides visibility into pending regulatory changes to take the guesswork out for compliance professionals. It also helps project exactly what business impact those changes will likely have on the organization. This regulatory intelligence solution developed with Thomson Reuters brings a new level of insight and intelligence to the complex challenges of regulatory compliance."

NICE Ltd. (NasdaqGS:NICE) polled contact centres in the United States, United Kingdom and Australia, and found that businesses express confidence in AI technology. The report, called the 2019 NICE inContact Customer Experience (CX) Transformation Benchmark, found that "63 percent of contact center leaders agree that chatbots and virtual assistants make it easier for consumers to get their issues resolved, and 68 percent of those surveyed agree that consumers want to use virtual assistants to interact with them". Paul Jarman, CEO NICE inContact, said:

"We are at an inflection point for AI in the contact center. AI innovations are at their best when paired with the human touch and deployed to address targeted customer and agent experience opportunities. AI in the contact center has the potential to add significant value to customer experience outcomes and operational performance."

Global AI in IoT Market to Reach $16.2 Billion by 2024

Report Linker recently published research finding that the global AI in IoT market will grow from $5.1 billion in 2019 to $16.2 billion in 2024 at a compound annual growth rate (CAGR) of 26 percent in that forecast period. An excerpt from the report summary explains the software solutions segment of the market, which is expected to see the highest rate of growth:

Most of the key vendors in AI in IoT market offers software solutions for enhanced security and scalability.These software solutions are designed to meet interoperability challenges that arise due to varied heterogeneous devices and manage large volumes of data and its security and privacy.

They help in mitigating interoperability issues that create flexibility and managing various business functions.

Sam Mowers, Investorideas.com


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