The AI Eye: Patriot One (TSX: $PAT.TO) (OTC: $PTOTF) Acquires XTRACT, Cisco (Nasdaq: $CSCO) Completes Voicea Acquisition and NICE (Nasdaq: $NICE) Wins Four Globee Awards for AI Tech
Point Roberts, WA and Vancouver, BC - September 9, 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: Patriot One (TSX: $PAT.TO) (OTC:$PTOTF) Acquires XTRACT, Cisco (Nasdaq: $CSCO) Completes Voicea Acquisition and NICE (Nasdaq: $NICE) Wins Four Globee Awards for AI Tech
Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence
Stocks discussed: (PAT.TO) (OTC:PTOTF) (0PL.F) (NasdaqGS:CSCO) (NasdaqGS:NICE)
Patriot One Technologies Inc. (PAT.TO) (OTC:PTOTF) (0PL.F) has acquired AI company XTRACT Technologies Inc. and all its related interests, assets, and intellectual property for consideration of $6,000,000 and the issuance of 9,422,956 Patriot One common shares to XTRACT's former shareholders. Martin Cronin, Patriot One's CEO and President, explained:
"Just over a month ago, we announced a development project with XTRACT, and during this period we've already seen great progress in significant opportunities for enhanced detection accuracy. With new sales opportunities arising every day for a covertly deployed, multi-sensor security solution, integrating XTRACT more deeply into our development and day-to-day operations made perfect sense. We are thrilled to have this highly talented group join our ranks; as they share our vision for creating a world safer from acts of mass violence."
Cisco Systems, Inc. (NasdaqGS:CSCO) has completed the acquisition of AI software firm Voicea. According to the press release, Cisco will leverage Voicea's technology to "enhance its Webex portfolio of products with a powerful transcription service that blends AI and Automated Speech Recognition (ASR) to unlock the power of any collaboration, like meetings and calls".
NICE Ltd. (NasdaqGS:NICE) has won four Globee awards, which are global business awards that recognize companies for setting the industry benchmark for excellence. Chief among this recognition was NICE's Gold award in the 'Milestone of the Year' category for its NEVA employee virtual attendant focused on helping employees. Barry Cooper, President, NICE Enterprise Product Group, commented:
"We believe that for organizations to succeed in today's customer experience driven world, they must be empowered with innovative solutions that create personalized connections with their customers and engage and inspire their employees. We're excited with these Globee awards that recognize the contribution of our solutions in this exciting time."
Global Deep Learning Neural Network (DNN) Market to See 43.2% CAGR from 2019-2026
A report from Data Bridge Market Research finds that the global Deep Learning Neural Networks (DNNs) market is projected to see a compound annual growth rate (CAGR) of 43.2 percent in the forecast period 2019-2026. An excerpt from the report description reads:
Deep learning neural networks is a machine learning based technology that is [...] used for decision making, diagnosis, solving prediction, decision and problems based on a well-defined computational architecture. [This] technology has wide adoption in various applications such as computer security, speech recognition, image and video recognition to industrial fault detection, medical diagnostics and finance.
The rapidly increasing digitization is boosting [the] global deep learning neural networks market. The digital transformation helps to adapt the advanced technology which provides the ease to collect the data, while the data is important and essential part of the artificial intelligence. The data helps deep learning neural networks to recognize the pattern and [make] the prediction.
Some of the factors which are driving the market are the increased demand of cloud-computing for businesses, and demand for predictive solutions and image recognition is considered as [a] major application for deep learning neural networks. However, less adoption of artificial intelligence-based technologies [resulting] in slow digitization is the restraint that is hampering the growth of the market.
Sam Mowers, Investorideas.com
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