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The AI Eye: Avnet (Nasdaq: $AVT) Names New President of Business Transformation, Nuance (Nasdaq: $NUAN) Introduces Lightning Engine AI Tool

 

Point Roberts, WA and Vancouver, BC - July 10, 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: Avnet (Nasdaq: $AVT) Names New President of Business Transformation, Nuance (Nasdaq: $NUAN) (Introduces Lightning Engine AI Tool

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

Stocks discussed: (NasdaqGS:AVT) (NasdaqGS:NUAN) (NasdaqCM:VERI)

Avnet, Inc. (NasdaqGS:AVT) has named Pete Bartolotta as its new President of Business Transformation. Bartolotta was previously the company's Chief Transformation Officer since 2016. According to the press release, Bartolotta's new role will see him "responsible for scaling Avnet's high-growth solutions, including Internet of Things (IoT), Artificial Intelligence (AI), global design services and Avnet Integrated, to expand opportunities with existing and new types of customers around the world". Bill Amelio, CEO, Avnet, commented:

"IoT is at the heart of Avnet's transformation, and Pete's leadership in this area has helped us dramatically reshape our business into a comprehensive ecosystem that provides more value to our customers. As IoT and AI continue to reshape the world around us, Pete will build upon the great progress he's made and use his extensive leadership experience and technology expertise to continue to drive successful transformative change."

Nuance Communications, Inc. (NasdaqGS:NUAN) has unveiled the Nuance Lightning Engine – an "AI tool that uses 4th generation deep neural nets (DNNs) and combines voice biometrics and natural language understanding (NLU) to deliver more personalized and human-like experiences across voice channels". Brett Beranek, General Manager, Security Business, Nuance Enterprise Division, explained:

"Voice biometrics not only secures the voice channel, but when combined with NLU, is the foundation to frictionless experiences for consumers. With the engine, organizations don't have to spend time checking to see if a customer is who they say they are when they engage on voice channels. Instead, they can immediately start personalizing the interaction as soon as that person speaks, making it an effective, enjoyable and natural engagement."

Veritone, Inc. (NasdaqCM:VERI) has announced that its aiWARE-powered Veritone Essentials suite of applications has been selected by Cox Media Group (CMG) to use across the latter's more than 60 radio stations in 11 markets. Tim Clarke, vice president of audience and content, CMG Radio, commented:

"Veritone's industry-leading AI platform will help CMG offer better, more effective marketing solutions to our customers by providing data and insight that has previously not existed in the broadcast space. Furthermore, our content teams are excited to leverage the tool to automate tedious processes and assist with content tracking, discovery, and archiving."

Global AI in Edge Devices Market to Hit $4.849 Billion by 2024

Research from Report Ocean finds that the global market for AI for edge devices will grow from $1.417 billion in 2019 to $4.849 billion by 2024 with a compound annual growth rate (CAGR) of 27.9 percent in the forecast period. An excerpt from the report description reads:

Artificial intelligence (AI) processing today is mostly done in a cloud-based data center. The majority of AI processing is dominated by training of deep learning models, which requires heavy compute capacity. Artificial intelligence for edge devices means that AI software algorithms are processed locally on a hardware device. The algorithms are using data (sensor data or signals) that are created on the device. A device using Edge AI software does not need to be connected in order to work properly, it can process data and take decisions independently without a connection.

Sam Mowers, Investorideas.com


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