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The AI Eye: 3M (NYSE: MMM) to Move Enterprise IT to AWS (NasdaqGS: AMZN) and Alteryx (NYSE: AYX) Named Leader for Data Science and Machine Learning

 

Point Roberts, WA and Vancouver, BC - February 18, 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: 3M (NYSE: MMM) to Move Enterprise IT to AWS (NasdaqGS: AMZN) and Alteryx (NYSE: AYX) Named Leader for Data Science and Machine Learning

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

Stocks discussed: (NYSE:MMM) (NasdaqGS:AMZN) (NYSE:AYX)

3M (NYSE:MMM) is moving its enterprise IT infrastructure to Amazon Web Services (AWS), a subsidiary of Amazon (NasdaqGS:AMZN). According to the press release, 3M plans to leverage AWS "machine learning, analytics, storage, security, and databases to optimize and automate operational, manufacturing, and business processes, as well as product solutions." John Turner, Vice President, IT Systems and Chief Information Officer at 3M, commented:

"AWS is integral to our enterprise IT transformation as we look for better ways to serve our customers, streamline the way we work, and compete globally. AWS, with its proven experience and highly performant global infrastructure, will deliver the agility, speed, and scalability 3M needs to launch new business processes and service models. We look forward to expanding our use of AWS's portfolio of services, including analytics and machine learning, to gain greater insights and become an even more agile company in the cloud."

Alteryx, Inc. (NYSE:AYX) has been named a Leader in Gartner's 2020 Magic Quadrant for Data Science and Machine-Learning Platforms. Amy Heidersbach, chief marketing and community officer of Alteryx, commented:

"We're seeing the acceleration of a global movement in the data analytics space-where everyone is becoming a data worker and where businesses that are winning are the ones who are able to create a deep culture of analytics that makes high-impact problem solving a reality in all parts of their organization. Our continued growth and deep community engagement reflect how essential Alteryx is in helping our customers solve their people, process and data problems faster and easier."

At press time, all of the aforementioned stocks are just slightly in the red. This may be more reflective of the wider market, as the S&P 500 and Dow are both similarly in the red to a small degree this morning.

Global AI in Agriculture to see CAGR of 26.2% from 2019-2025

A report from Research and Markets finds that the global AI in Agriculture market will see a compound annual growth rate (CAGR) of 26.2 percent in the forecast period 2019-2025. The research finds that technologies such as machine learning and facial recognition will be leveraged as the market grows to foster larger crop yields and improve livestock monitoring. An excerpt from the report description outlines the impact of dwindling labour on the growth of AI in the market:

Across the world, a huge decline of the workforce is observed due to many reasons, like the lack of skilled labor, aging of farmers, and young farmers finding farming an unattractive profession, thus encouraging trends for automated farming operations. According to the International Labor Organization(ILO), agricultural labors in the percentage of the workforce declined from 81% to 48.2% in developing countries. Also, developed countries are not an exception in such a huge decline. Asia-Pacific, where agriculture occupies a major part of the economy, has a huge decline in workforce, which was nearly about 9% from 2015 to 2017. In Japan, the number of people working in farms witnessed a steep fall to 1.7 million in the year 2015, a 15% decline from the previous year.

The European agriculture sector has also faced such a huge decline in the workforce, which is nearly accounting to 12.8% for the corresponding period. The trend of decline in the agricultural workforce is encouraging government and private organizations to focus on automation operations by adopting artificial intelligence technologies in the agriculture sector. Owing to the above factors, the market for artificial intelligence in the agricultural sector is likely to boom in the years to come.

Sam Mowers, Investorideas.com

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