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The AI Eye: Philips (NYSE: $PHG) Announces HealthSuite System of Engagement with Cloud-based Managed AI Workflow and Hydro66 Announces Puzl as AI Cloud Computing Customer

 

Point Roberts, WA and Vancouver, BC - March 6, 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: Philips (NYSE: $PHG) Announces HealthSuite System of Engagement with Cloud-based Managed AI Workflow and Hydro66 Announces Puzl as AI Cloud Computing Customer

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

Stocks discussed: (NYSE:PHG) (CSE:SIX)

Dutch multinational conglomerate Philips (NYSE:PHG) has announced the launch of the HealthSuite System of Engagement, described as "an integrated, modular set of standards-based capabilities that support the development of digital health propositions, including new capabilities for cloud-based managed AI workflow and DICOM [Digital Imaging and Communications in Medicine] interoperability." Jeroen Tas, Chief Innovation & Strategy Officer, member of the Executive Committee Royal Philips, said:

"While there are compelling examples of digitalization improving healthcare delivery, too often patients and care providers struggle within a complex, fragmented technology and data landscape that hampers the deployment of innovative healthcare services. The HealthSuite System of Engagement is at the core of Philips' digital transformation. It's a highly secured, modular set of capabilities that can liberate and integrate data from disparate systems and accelerate the development and deployment of digital propositions across the health continuum in a secure environment."

Hybrid cloud and colocation data provider Hydro66 Holdings Corp. (CSE:SIX) has announced Estonia-based AI firm Puzl as a new AI cloud computing customer. Nik Paushkin, founder and CEO of Puzl, explained:

"It's increasingly obvious that all industries must take advantage of AI and ML (Machine Learning) or fall behind more nimble competitors. However, there are significant barriers for all except the most expert developers to do so. Puzl are democratising and simplifying the user experience with 'GPU as code', bringing a new price point and container-based functionality to the general developer community."

Hydro66 CEO David Rowe commented:

"Our Enterprise-grade facility in the north of Sweden is an ideal location for High Performance Computing activities with our combination of industry leading ultra-low carbon emissions and attractive pricing models. Puzl are a highly innovative AI infrastructure company that we believe are set to grow rapidly with their containerised software driven platform and an ideal fit for our hugely scalable facility in Boden."

Global Mobile AI Market to Grow by $13.26 Billion from 2020-2024

A report from Technavio finds that the global Mobile Artificial Intelligence market will grow by $13.26 billion from 2020 to 2024, and exhibit a compound annual growth rate (CAGR) of more than 29 percent in the forecast period. An excerpt from the report snapshot outlines key drivers expected in the market:

Enterprises are increasingly using AI to gain operational efficiency and improve their processes. AI offers recommendations and suggestions to improve productivity and provide decision-making capabilities on multiple scenarios by analyzing the existing data. Because of such benefits, the use of AI is increasing in end-user industries such as healthcare, education, retail, and finance. Moreover, AI has the potential to improve healthcare outcomes while reducing treatment costs and is also used in the retail industry for supply chain planning, demand forecasting, price [optimization], customer intelligence, and enhancing day-to-day store operations. Intel offers AI technology to retailers to analyze activities on physical shelves using mobile devices, which creates a digital version of the physical store and [helps] them resolve shelf issues, such as [stock shortage], planogram compliance, and pricing errors. With the increasing use of AI chip-enabled mobile devices, the global mobile artificial intelligence market will grow significantly during the forecast period.

Sam Mowers, Investorideas.com

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