The AI Eye: SoftBank (OTC: $SFTBY) Announces AI-Focused "SoftBank Vision Fund 2" and SecuredTouch Joins NICE (NASDAQ: $NICE) Actimize X-Sight Marketplace
Point Roberts, WA and Vancouver, BC - July 26, 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: SoftBank (OTC: $SFTBY) Announces AI-Focused "SoftBank Vision Fund 2" and SecuredTouch Joins NICE (NASDAQ: NICE) Actimize X-Sight Marketplace
Today's Column - The AI Eye- Watching stock news, deal tracker and advancements in artificial intelligence
Stocks discussed: (OTC:SFTBY) (NASDAQ: NICE)
SoftBank Group Corp. (OTC:SFTBY) (TYO:9984) has announced the establishment of a new private investment fund called "SoftBank Vision Fund 2". The fund's capital has reached $108 billion USD based on memoranda of understandings (MOUs) and $38 million has come from SoftBank itself. According to the announcement, "the objective of the Fund is to facilitate the continued acceleration of the AI revolution through investment in market-leading, tech-enabled growth companies". If successful, this will be the biggest tech fund in the world. The first SoftBank Vision Fund was worth $100 billion. Chris Lane, an analyst with Sanford C. Bernstein & Co., is quoted in Bloomberg commenting on the confidence gained from the first fund's success:
"The first round of investors were betting on a man and betting on his vision, but the idea hadn't been tested. For the second round of investors, you can see the facts, you can see the returns."
NICE Actimize, a subsidiary of NICE Ltd. (NasdaqGS:NICE), announced that fraud detection solutions provider SecuredTouch has joined the former's X-Sight Marketplace. According to the press release, X-Sight Marketplace is "the industry's first financial crime risk management-focused ecosystem designed to assist financial services organizations evaluate new point solutions and move to stay on top of a challenging regulatory and criminal environment". Yair Finzi, CEO, SecuredTouch, commented:
"SecuredTouch welcomes this partnership with NICE Actimize as we bring innovation and business value to financial services organizations looking for more secure authentication and detection processes that bolster their financial crime operations. There is strong synergy and alignment between the industry-leading financial crime solutions and platforms that NICE Actimize offers its community and SecuredTouch. We look forward to building our presence within this innovative community platform."
Global AI in Aviation to Hit $2.22 Billion by 2025
Research from Market Insights Reports finds that the global Artificial Intelligence in Aviation market will grow from $152.4 million in 2018 to $2.22 billion in 2025 with a compound annual growth rate (CAGR) of 46.65 percent in the forecast period, according to a report from Market Research Journalist. One application of AI in Aviation is in predictive maintenance. A recent article from Avionics outlines some manifestations of this application in the industry:
Right now, Delta Air Lines is working on adopting artificial intelligence and machine learning into its aircraft maintenance strategy. James Jackson, Delta Air Lines manager of predictive technology engineering, provided a look at how airlines are approaching the use of artificial intelligence within their maintenance strategies during an "intelligent maintenance" themed presentation at the 2019 AEEC/AMC and MMC general session.
"We want to integrate some of the more advanced technologies such as machine learning, artificial intelligence, natural language processing and deep learning into our predictive maintenance process. With the increased digitalization of data, we want to have our technical airplane specialists focusing more on validation rather than the aggregation and analysis of maintenance data," said Jackson.
While Delta is not the only airline thinking about the use of artificial intelligence for maintenance, Jackson's approach to the use of AI shows how it can be an effective tool for airline mechanics well into the future. Jackson's presentation focused on the use of artificial intelligence primarily to replace today's human tasks of ingesting, aggregating and analyzing raw data transmitted by aircraft.
Sam Mowers, Investorideas.com
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