The AI Eye: Oracle (NYSE: $ORCL) Announces New Innovation and Technology Center in Portugal and VMware (NYSE: $VMW) Completes Carbon Black Acquisition
Point Roberts, WA and Vancouver, BC - October 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: Oracle (NYSE: $ORCL) Announces New Innovation and Technology Center in Portugal and VMware (NYSE: $VMW) Completes Carbon Black Acquisition
Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence
Stocks discussed: (NYSE:ORCL) (NYSE:VMW)
Oracle Corporation (NYSE:ORCL) has unveiled a new Innovation and Technology Center in Porto, Portugal. According to the press release, the "center will focus initially on delivering breakthrough retail innovations leveraging the latest technologies, including artificial intelligence and machine learning". Portugal Country Leader Bruno Morais commented:
"Oracle Portugal is delighted to see Oracle's Global Retail business unit's commitment to and investment in people and technologies in Porto. Similarly, we are delighted to contribute to the development of Porto through the creation of this global technology and innovation hub. As it is true for all Oracle offices, we will actively foster community support and get involved in local causes to enrich the area wherever we can."
VMware, Inc. (NYSE:VMW) has completed its acquisition of Carbon Black in an all-cash transaction for $26 per share, representing an enterprise value of $2.1 billion. The press release describes Carbon Black as "a leader in cloud-native endpoint protection dedicated to keeping the world safe from cyberattacks". Sanjay Poonen, chief operating officer, Customer Operations, VMware, explained:
"Carbon Black brings us an industry-leading endpoint and workload security platform, with a cloud-native architecture, an AI-powered data lake and a smart, lightweight agent. The Carbon Black platform, along with VMware NSX, VMware Workspace ONE, VMware Secure State and our future innovations, will deliver a highly-differentiated intrinsic security platform across network, endpoint, workload, identity, cloud and analytics. We believe this will bring a fundamentally new paradigm to the security industry."
Global Conversational AI Market to Exceed $15 Billion by 2024
A report from Prescient and Strategic Intelligence finds that the global Conversational AI market is projected to grow from $3.2 billion in 2018 to more than $15 billion by 2024 with a compound annual growth rate (CAGR) of 30.2 percent in the forecast period. An excerpt from the report description reads:
AI solutions are increasingly being adopted for customer service application, as AI solutions like chatbots have gained prominence due to their ability of resolving customer queries without the guidance of a human agent. These solutions also enable the management of large volumes of data in a more structured manner. This has resulted in providing effective customer care services and reduced costs for the businesses. AI solutions have witnessed rapid advancements as these systems now possess conversational capabilities compared to their earlier models of speech to text translation. Retail and e-commerce industry are expected to benefit the most from the growth of AI solutions due to heavy investments made by these sectors toward customer service.
Sam Mowers, Investorideas.com
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