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The AI Eye Episode 334: Accenture (NYSE: $ACN) to Acquire AWS Cloud Company Gekko and Nuance (NasdaqGS: $NUAN) Launches DAX Telehealth Solution

 

Point Roberts, WA and Vancouver, BC - April 20, 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) to Acquire AWS Cloud Company Gekko and Nuance (NasdaqGS: $NUAN) Launches DAX Telehealth Solution

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

Stocks discussed: (NYSE:ACN) (NasdaqGS:AMZN) (NasdaqGS:NUAN) (NasdaqGS:MSFT)

Accenture (NYSE:ACN) has agreed to acquire Gekko, a French Amazon Web Services (AWS) (NasdaqGS:AMZN) cloud services company. Olivier Girard, Accenture’s Geographic Unit managing director for France and Benelux, explained the move:

"Aligned with our development strategy, the acquisition of Gekko would be another significant addition because it would give clients more support for public cloud options. Gekko would also be a major opportunity to accelerate our growth strategy in France. Accenture’s advantage is our ability to keep pace with evolving customer expectations. Our clients call on Accenture to help them innovate and transform their business. Gekko would bring key cloud, AI and DevOps skills and would help us serve a greater and more diverse range of clients in France and the broader European market."

Nuance Communications, Inc. (NasdaqGS:NUAN) announced the launch of the Nuance Dragon Ambient eXperience (DAX) solution for telehealth as a response to "the overwhelming increase in virtual visits sparked by the COVID-19 global pandemic." According to the press release, the DAX was innovated by Nuance and Microsoft (NasdaqGS:MSFT), and "is built on decades of healthcare experience, in-depth research investments in conversational AI, and enterprise-focused cloud services." Joe Petro, CTO, Nuance, explained:

"Making it easier to document patient care from virtually anywhere has been our mission for decades, and it's even more important today. We are committed to helping our customers who are literally on the front lines of a global effort to battle a pandemic and care for patients. That means accelerating innovation - with the use of Nuance DAX for telehealth - is essential to meet these demands now and as we eventually reach a new normal."

Global AI Market to Grow by $75.54 Billion from 2019 to 2023

A report from Technavio finds that the global market for AI will grow by $75.54 billion from 2019 to 2023 with a compound annual growth rate (CAGR) in excess of 33 percent in the forecast period. An excerpt from the report snapshot outlines some of the key drivers observed in the market:

Al has evolved into an employee support system as it improves communication, completes vital tasks, and deploys health-focused strategies for well-being. Additionally, Al is also replacing workplace surveys and board-room discussions that are used to generate data on human performance across various parameters. Moreover, AI is highly-efficient when compared to manual methods as it is faster, offers customized insights to managers and HR, and helps in monitoring organization-wide performances in real-time.

In addition to the benefits of AI, the rise in cloud-based AI services will also contribute to the growth of the global AI market that will register a CAGR of over 33% during the forecast period. There is an increase in the demand for cloud-based Al products and services as the adoption of Al technologies in the on-premises data center is expensive. This is inducing major public cloud players to leverage their technical expertise to offer different cloud-based Al products and services. Al-powered applications are used in a wide variety of use cases including recommendation engines, pricing optimization, lead generation, chatbots, and supply chain optimization.

Sam Mowers, Investorideas.com

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