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The AI Eye: VSBLTY (CSE:VSBY) (VSBGF) Joins CIC to Develop Access Control and Security Solutions, Virtusa (NasdaqGS:VRTU) and Hitachi Form Partnership to Advance AI in Financial Services

 

Point Roberts, WA and Vancouver, BC - June 3, 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: VSBLTY (CSE: $VSBY.C) Joins CIC to Develop Access Control and Security Solutions, Virtusa (NasdaqGS: $VRTU) and Hitachi Form Partnership to Advance AI in Financial Services

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

Stocks discussed: (CSE:VSBY) (5VS.F) (VSBGF) (NasdaqGS:VRTU) (TYO:6501)

VSBLTY Groupe Technologies Corp. (CSE:VSBY) (5VS.F) (VSBGF) and tech company CIC Technologies have jointly announced a cross-licensing agreement that will see them co-develop access control and security solutions. CIC CEO Sean Ryan explained:

"In order to anticipate cyber and physical attacks there increasingly must be a reliance on innovative technologies. We are excited to work with VSBLTY and its state-of-the-art software that provides facial recognition, analytics and weapon detection that, combined with our own biometric, and access control solutions, will take layered security to new and heightened levels for corporations, governments, transportation centers, entertainment and sports venues and schools."

VSBLTY Co-founder and CEO Jay Hutton commented:

"The combination of CIC's unique concealed weapons detection technology and the VSBLTY optical weapons detection provides a comprehensive weapons detection capacity to allow accurate detection and early warning. That is why we are confident that this partnership will result in immediate contract wins and revenue to VSBLTY."

Virtusa Corporation (NasdaqGS:VRTU) and Hitachi, Ltd. (TYO:6501) have announced a partnership with the aim of advancing the adoption of AI in financial services. The two companies have started a joint team in Silicon Valley where they will leverage Hitachi's tech and R&D with Virtusa's financial services and digital engineering expertise. Kris Canekeratne, chairman and CEO, Virtusa, said:

"AI is an imperative for our clients to gain a competitive advantage. Financial services organizations have a significant opportunity to leverage and deploy AI to gain significant competitive advantages. With this partnership and through our deep digital capabilities we can help more clients benefit from AI faster."

Global Deep Learning Market to Hit $17.4 Billion by 2023

A report from Market Research Future finds that the global deep learning market will grow to $17.4 billion by 2023 with a compound annual growth rate (CAGR) of 30.84 percent in the forecast period. An excerpt from the report description reads:

Global deep learning market is expected to witness substantial growth during the forecast period. North America is estimated to be a prominent region for deep learning market due to the presence of key market players, heavily investing in the research and development of deep learning software, platforms, applications, and systems across the US, Canada, and Mexico. Similarly, increasing demand for deep learning technology for natural language processing and voice/speech recognition in the European financial service industry is projected to drive the deep learning market in the coming years. Asia-Pacific held the second largest market share in deep learning in 2017.

Sam Mowers, Investorideas.com


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