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The AI Eye: AI Eye Episode 379: Datametrex Introduces Nexalogy SMART and Minerva Partners with Allinno for Australia and NZ Expansion

 

Point Roberts, WA and Vancouver, BC - June 30, 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: AI Eye Episode 379: Datametrex Introduces Nexalogy SMART and Minerva Partners with Allinno for Australia and NZ Expansion

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

Stocks discussed: (TSXV:DM) (TSXV:MVAI)

Datametrex AI Limited (TSXV:DM) has introduced Social Media Automated Reporting Technologies (SMART) from its subsidiary Nexalogy. According to the press release, "SMART is an advanced proprietary AI technology that minimizes human involvement," and "is designed for significant decrease in the time to insight and report production." SMART is still finalizing its internal product testing and is aiming to be fully available in Q4 2020. Marshall Gunter, President and CEO of Datametrex, commented:

"Innovation is vital to the ever-changing artificial intelligence ("AI") space. One of the key drivers for Datametrex's future growth is the automated reporting technology's ability to provide big data collection with automated reports in a more responsive, accessible, and speedy manner. Datametrex has been working hard with the developers in the research and development of the new application, which will enhance customer experience and generate a new income vertical."

Minerva Intelligence Inc. (TSXV:MVAI) has announced that through a partnership with Australia-based leading systems integrator and consulting firm Allinno, its TERRA Mining AI Suite - a software suite of cognitive AI applications for mining and exploration - will now be available to companies in Australia and New Zealand. Minerva's CEO Scott Tillman commented:

"We are ecstatic to be partnering with Allinno and see this agreement as a critical component of our go-to-market strategy. Australia and New Zealand are one of the largest mining territories in the world, so our partnership with Allinno to offer our solutions in those regions represents a natural next step for Minerva in the global commercialization of our TERRA Mining AI Suite."

Global AI in BFSI Market to See > 40% CAGR from 2020-2026

A report from Global Market Insights finds that the global AI in BFSI market, which was valued at $5 billion in 2019, will exhibit a compound annual growth rate (CAGR) of more than 40 percent from 2020 to 2026. An excerpt from the report's summary outlines drivers observed in the market:

The AI in BFSI market is witnessing rapid growth in the adoption of big data and machine learning algorithms as BFSI institutes are preparing themselves for the next wave of digital disruption. In 2019, the technology witnessed [an] approximately 300% increase in investments across all the businesses compared to 2016. In addition, the integration of AI into the BFSI toolchain across various digital financial services has also accentuated the market growth.

The COVID-19 outbreak has impacted BFSI enterprises severely as [the] economic slump coupled with poor stock market sentiments and ongoing liquidity concerns has hampered the market growth. AI technologies have emerged as a viable solution to prevent systemic failures, implement fraud detection & prevention techniques, and help BFSI organizations in reducing operational risks amid the ongoing pandemic.

Sam Mowers, Investorideas.com

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