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The AI Eye: Best Western Selects AWS (NasdaqGS: AMZN) Portfolio for Innovation and Nuance (NasdaqGS: NUAN) Announces AI Improvements to Radiology Reporting Solution

 

Point Roberts, WA and Vancouver, BC - December 2, 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: Best Western Selects AWS (NasdaqGS: AMZN) Portfolio for Innovation and Nuance (NasdaqGS: NUAN) Announces AI Improvements to Radiology Reporting Solution

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

Stocks discussed: (NasdaqGS:AMZN) (NasdaqGS:NUAN)

Best Western Hotels and Resorts has selected Amazon Web Services (AWS), a subsidiary of Amazon (NasdaqGS:AMZN), for the latter's "portfolio of cloud services to innovate faster and deliver new and enhanced guest experiences". This will involve the migration of Best Western's hotel reservation system, customer reward platform, and global contact centers to AWS to leverage the latter's solutions, including its machine learning services. Greg Adams, Senior Vice President and Chief Digital Officer for Best Western Hotels & Resorts, commented:

"In recent years we have embarked on a digital transformation that is designed to delight our guests, develop agile ways of working, and create new value for guests, hotel owners, and employees. With its unmatched portfolio of services, AWS is a natural fit for Best Western Hotels & Resorts' move to the cloud, as we focus on improving processes, driving better business results for our member-owners, and delivering even greater value to travelers around the world."

Nuance Communications, Inc. (NasdaqGS:NUAN) has announced multiple new AI-driven cloud innovations in its radiology reporting solution, PowerScribe One. Highlights of the PowerScribe One that employ Nuance conversational and cognitive AI capabilities include: "The new Ambient Mode automatically converts free-form dictation into structured reports", "Virtual assistant functionality for faster access to patient data and task completion", and "AI results directly integrated into the radiology visualization and reporting workflow". Karen Holzberger, Senior Vice President and General Manager of Nuance Healthcare's Diagnostic Division, explained:

"Building on our long history of leading innovation in the imaging arena, PowerScribe One is transforming the reading experience for our radiology customers. PowerScribe One is a major advancement for radiologists that are ready to incorporate state-of-the-art cloud computing, AI-assisted reporting and decision support, and real-time data synchronization. The new design shows the importance of UX design by turning the radiologist's desktop into an intuitive workflow hub unifying reporting, visualization, EHR access, and AI tools from the Nuance AI Marketplace."

Global AI Chipset Market to See 33.6% CAGR from 2019-2025

A report from Allied Market Research finds that the global Enterprise AI market will grow from $4.68 billion in 2018 to $53.06 billion in 2026 with a compound annual growth rate (CAGR) of 35.4 percent. An excerpt from the report overview outlines key factors in the market's growth:

Factors such as booming innovative start-ups and bursting advancements in technology have led to [an] increase in investment in artificial intelligence technologies. Moreover, escalating demand for analyzing and interpreting large amount[s] of data boosts the demand for artificial intelligence industry solutions. Furthermore, increase in adoption of AI in developing economies such as China, and India are expected to provide major opportunities for the enterprise AI market growth in the upcoming years.

Sam Mowers, Investorideas.com

A report from Grand View Research finds that the global Artificial Intelligence Chipset market, worth $7.4 billion in 2018, is expected to witness a compound annual growth rate (CAGR) of 33.6 percent from 2019 to 2025. An excerpt from the report summary reads:

Increasing penetration of e-commerce and social media leads to a huge growth in data volume. Due to rapid growth in the volume of data, the need for high-speed processors has also increased, which is positively influencing the growth of the market. The chipset addresses the need for faster processing due to enabled machine learning. People's inclination towards computer vision and machine learning devices is the factor driving the tech giants to invest in high-speed processors development. In addition, increasing users of smartphones and smart devices has certainly boosted the artificial intelligence chip market growth.

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