The AI Eye: Verizon (NYSE: VZ) Teams Up with Honeywell (NYSE: HON) for Utilities and Smart Grid Enhancement
NICE (Nasdaq: NICE) CXone Integrates AI-Powered Sentiment Analysis
Point Roberts, WA and Vancouver, BC - January 29, 2020 (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: Verizon (NYSE: VZ) Teams Up with Honeywell (NYSE: HON) for Utilities and Smart Grid Enhancement
Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence
Stocks discussed: (NYSE:HON) (NYSE:VZ) (NasdaqGS:NICE)
Verizon Communications Inc. (NYSE:VZ) has teamed up with Honeywell International Inc. (NYSE:HON) in an effort to accelerate and streamline "the deployment of new communication-enabled, intelligent sensors and controls for the smart electric grid," for utilities. This will be achieved through the integration of Verizon's Managed Connectivity LTE solutions into Honeywell's next-gen smart meters and utilities solutions. An excerpt from the press release reads:
The open secure edge computing and networking platform enables Honeywell to incorporate sophisticated technologies like artificial intelligence and machine learning into its meters. The two companies are also working to explore how 5G can transform the utility industry through higher bandwidth, faster speeds and low latency, enabling advanced industrial automation and control solutions along with real-time analytics.
Ann Perreault, director, Connected Utilities, Honeywell Smart Energy, explained:
"The Honeywell portfolio of utility applications and analytics expands with the new capabilities of wireless IoT. By taking advantage of an already built, cellular infrastructure, our utility customers can more quickly deploy new capabilities based on interoperable communications, allowing them to facilitate innovation. This means that it is easier and more cost effective for utilities to apply analytics to plan for energy demand and to integrate emerging new technologies including micro-renewable generation, electric vehicles, battery storage and semi-autonomous control into the next evolution of the grid."
Verizon's stock is down a bit at around 1.7 percent today, while Honeywell is enjoying a modest uptick of around 1 percent at press time. It's difficult to say whether today's news affected either's stock, both having recently experienced a slight downtrend over the last week or so.
NICE Ltd. (NasdaqGS:NICE) announced that its CXOne cloud platform has integrated AI-powered Sentiment Analysis data on top of intelligent routing "to hyper-personalize customer and employee experiences." As a result, CXone considers customer preferences and personality when connecting employees and customers in real-time. Barry Cooper, President, NICE Enterprise Group, commented:
"Redefining personalization, businesses can now differentiate by driving engaging connections that excite customers and motivate employees. With today's announcement, organizations can now drive customer experience transformation within their business using AI to precisely match the right agent with the customer based on personality and preferences."
Like Honeywell, NICE stock has seen an uptick today (+1.3%). Like both stocks mentioned previously, it looks to be climbing out of a downtrend that seems to be part of the broader slump inflicted over the weekend by Coronavirus concerns.
Global Market for Neural Network Software to Reach $50.66 Billion by 2025
A report from Research and Markets finds that the global Neural Network Software market is projected to grow from $8.3 billion in 2019 to $50.66 billion by 2025, with a compound annual growth rate (CAGR) of 35.2 percent in the forecast period. An excerpt from the report's Market Overview reads:
The artificial neural network was completely neglected in the early stage of artificial intelligence development, then gradually recognized and became a large-scale algorithm that is leading the AI development trend.
- The adoption of IoT and connected devices is generating vast structure and unstructured data available with the companies, and it was a tedious job for the processing it, but now with the emerging analytical tools covered the gap and driving the demand for the neural network software market.
- Moreover, in the analytics field, the trend towards predictive and prescriptive analytics passing over descriptive analytics is driving the growth of neural network software market. The trend is booming as the neural network software offers complete customization according to the application.
- The increasing industrial automation across the sectors globally is boosting the development of machine learning and its applications in almost all the industries. However, due to the lack of expertise globally, slow adaptation due to operational challenges are restricting market growth.
Sam Mowers, Investorideas.com
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