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The AI Eye: NICE (Nasdaq: $NICE) Selected by PSCU for Payments Operations Modernization and BrainChip (ASX: BRN) to Workshop Akida in Perth, Australia

 

Point Roberts, WA and Vancouver, BC - October 14, 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: NICE (NasdaqGS:NICE) Selected by PSCU for Payments Operations Modernization and BrainChip (ASX:BRN) to Workshop Akida in Perth, Australia

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

Stocks discussed: (NasdaqGS:NICE) (ASX:BRN)

NICE Ltd (NasdaqGS:NICE) has been selected by PSCU to to modernize the latter's expanding payments operations with the former's fully automated and AI-powered investigations and case management platform, ActOne Extend. Craig Costigan, CEO, NICE Actimize commented:

"Known for its focus on innovation and commitment to service excellence, we are proud to have been selected to address PSCU's specialized credit union requirements with our robust holistic platform for continued advancement in the future. NICE Actimize will support PSCU's expanding credit union membership, as the organization continues to grow, with our advanced analytics and AI-infused platform. We are particularly excited to apply the resources of our investigations and case management experience as PSCU continues to streamline its operations."

BrainChip Holdings Ltd (ASX:BRN) has announced a neural networking workshop using the Akida™ Development Environment (ADE). Akida is the firm's spiking neural network "designed to provide a complete ultra-low power AI Edge Network for vision, audio and smart transducer applications". A workshop on November 1 at the Ernst & Young facility at Tank Stream Labs in Perth, Australia will focus on "implementations of Convolutional Neural Networks converted to Event-Based Neural Networks and the development of Native Spiking Neural Networks", according to the press release. BrainChip founder and CTO Peter van der Made said:

"We are excited to invite developers and data scientists to participate in the Akida Workshop. Akida is a revolutionary edge AI network technology and the AKD1000 is the first in a family of devices that is ultra-low power, high performance and a complete re-configurable network providing inference, training and learning. The reduction in system latency provides a faster response and a more power-efficient system that can reduce the large carbon footprint of data centers."

Global Machine Learning as a Service (MLaaS) Market to Reach $5.54 Billion USD by 2023

A report from Allied Market Research finds that the global Machine Learning as a Service (MLaaS) market is projected to grow from $768 million in 2017 to $5.54 billion by 2023 with a compound annual growth rate (CAGR) of 39 percent in the forecast period 2016-2023. An excerpt from the report overview reads:

Machine learning as a service Market incorporates a comprehensive range of services and solutions and techniques interrelated closely to artificial intelligence (AI), which performs statistical analysis of input data to understand its current or future relationship and performance. Machine learning makes use of massive amount of input data to deliver improved analytical output while optimizing workflow for varied industry verticals. Machine learning as a service (MLaaS) incorporates range of services that offer machine learning tools through cloud computing services.

Growth in IT expenditure in the emerging nations and technological advancements for workflow optimization fuels the demand for advanced analytical systems, thereby driving the MLaaS market growth. In addition, rise in penetration of cloud-based solutions, growth associated with artificial intelligence and cognitive computing market, and increase in market for prediction solutions also fuel the demand for machine learning as a service market. However, dearth of trained professionals is expected to restrain the MLaaS market growth during the forecast period. Furthermore, increased application areas for MLaaS is expected to create lucrative opportunities for market expansion.

Sam Mowers, Investorideas.com

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