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The AI Eye: UBS Card Center Wins Security Innovation Award by Leveraging FICO (NYSE: FICO) Falcon Platform and PegaSystems (NasdaqGS: PEGA) Acquires In The Chat

 

Point Roberts, WA and Vancouver, BC - May 13, 2019 (Investorideas.com Newswire) Investorideas.com (www.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: UBS Card Center Wins Security Innovation Award by Leveraging FICO (NYSE:FICO) Falcon Platform and PegaSystems (NasdaqGS:PEGA) Acquires In The Chat

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

Stocks discussed: (NYSE:FICO) (NasdaqGS:PEGA)

UBS Card Center has won the Security Innovation of the Year award at the Retail Banker International Awards for its achievement in fraud reduction using Fair Isaac Corporation's (NYSE:FICO) AI and machine learning. The credit card service provider was able to investigate and resolve 42 percent more fraud alerts by leveraging FICO's Falcon Platform. Marcel Drescher, Head of Fraud Services, UBS Card Center, said:

"We are combining our deep expertise in analyzing fraud trends and the latest breakthroughs in AI and machine learning from FICO to keep losses and false-positives low and customer satisfaction high. We are gratified by this industry award recognizing our success in stopping fraud."

PegaSystems, Inc. (NasdaqGS:PEGA) has acquired social media and messaging-based customer service platform In The Chat (ITC). ITC will be integrated into the PegaSystems AI-powered customer engagement solutions, "providing clients a seamless, future-proof way to connect with customers". Kerim Akgonul, SVP of products, Pegasystems, said:

"In The Chat's technology and the talented employees behind it will bring valuable new capabilities to our customer engagement solutions. We look forward to debuting the new solution at PegaWorld* this year."

*PegaWorld 2019 is a Business and IT conference held in Las Vegas from June 2-5

Global Conversational Systems Market to Hit $17.4 Billion in 2024

A report from Markets and Markets finds that the global conversational systems market will grow from $4.6 billion in 2019 to $17.4 billion in 2024 with a compound annual growth rate (CAGR) of 30.8 percent. The report identifies increasing demand for AI-powered customer support services and advanced AI and NLP tools as drivers for the adoption of conversational systems. An excerpt from the report description reads:

Most of the conversational solutions providers offer technical support services and consulting services to manage the deployment of AI-based solutions in the market. The services ensure faster and smoother implementation that maximizes the value of enterprise investments. They ensure the end-to-end deployment of the conversational systems platform and address pre and post-deployment queries that are required.

Sam Mowers, Investorideas.com


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