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The AI Eye: Accenture (NYSE: ACN) Acquires VanBerlo and Tautachrome (OTC: TTCM) Integrates Google (NasdaqGS: GOOG) TensorFlow AI in ARknet App Release

 

Point Roberts, WA and Vancouver, BC - February 19, 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: Accenture (NYSE: ACN) Acquires VanBerlo and Tautachrome (OTC: TTCM) Integrates Google (NasdaqGS: GOOG) TensorFlow AI in ARknet App Release

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

Stocks discussed: (NYSE:ACN) (OTC:TTCM) (NasdaqGS:GOOG)

Accenture (NYSE:ACN) has acquired Netherlands-based product design and innovation agency VanBerlo, a move which, according to the press release, "will strengthen Accenture's capabilities to help clients benefit from the merging of physical products and digital services." VanBerlo's "smart connected solutions combine physical objects with digital services, using technologies like internet of things sensors, artificial intelligence and data analytics." Frank Rennings, managing director and Accenture Digital Lead in the Netherlands, said:

"The number of smart connected products is increasing rapidly and the speed of digitization is challenging our clients' design and development processes. Both call for a new approach to innovation. Bringing VanBerlo's creative team into our Industry X.0 practice will enable us to help our clients develop new business models and generate new revenues from smart connected products and services."

Tautachrome, Inc. (OTC:TTCM) has announced the inclusion of Google's (NasdaqGS:GOOG) TensorFlow artificial intelligence (AI) for image classification in the 1.3.4 release of the former's ARknet social media app. According to the official website, "ARknet is a global geolocated augmented reality network," that "connects humanity through social sharing, commerce and information." With this new release, ARknet will be able to classify incoming images utilizing TensorFlow, allowing it "to crowdsource its user base for machine learning purposes." Jon N Leonard, CEO of Tautachrome, Inc. explained:

"Machine learning technologies using recent advances in what is known as 'deep learning convolutional neural networks' have become enormously powerful, solving long standing problems in computer vision, speech recognition, biometrics, natural language processing, and many other arenas of human-like performance. These deep learning technologies are being deployed on a large scale by Microsoft, Google and Facebook, and are being made generally available through powerful tools such as TensorFlow. We are fortunate to have these tools available to us and a fabulous ARknet team to able deploy them in our ARknet 1.3.4 release."

European Commission Releases White Paper Outlining Investment Goals for AI

Today the European Union's (EU) executive branch, the European Commission, released a White Paper titled: On Artificial Intelligence - A European approach to excellence and trust. The paper opens with the following overture:

Artificial Intelligence is developing fast. It will change our lives by improving healthcare (e.g. making diagnosis more precise, enabling better prevention of diseases), increasing the efficiency of farming,contributing to climate change mitigation and adaptation, improving the efficiency of production systems through predictive maintenance, increasing the security of Europeans, and in many other ways that we can only begin to imagine.

After emphasizing the growing importance of AI investment, the paper concedes the EU's own shortcomings in comparison to other regions:

"Some €3.2 billion were invested in AI in Europe in 2016, compared to around €12.1 billion in North America and €6.5 billion in Asia. In response, Europe needs to increase its investment levels significantly."

In response to this admitted lag, the European Commission aims "to attract over €20 billion of total investment in the EU per year in AI over the next decade." Additionally, the European Commission "has proposed more than €4 billion under the Digital Europe Programmeto support high-performance and quantum computing,including edge computing and AI,data and cloud infrastructure. The European Data strategy develops these priorities further."

Sam Mowers, Investorideas.com

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