The AI Eye: Episode 382: Baidu (NasdaqGS: $BIDU) to Increase AI Investments to Promoted "New Infrastructure" and Sonasoft's (OTC: $SSFT) AI Solution with DEC Goes Live
Point Roberts, WA and Vancouver, BC - July 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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AI Eye Episode 382: Baidu (NasdaqGS: $BIDU) to Increase AI Investments to Promoted "New Infrastructure" and Sonasoft's (OTC: $SSFT) AI Solution with DEC Goes Live
Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence
Stocks discussed: (NasdaqGS:BIDU) (OTC:SSFT)
Baidu, Inc. (NasdaqGS:BIDU) has announced an increase in its investments into cloud computing, AI education, AI platforms, chipsets, and data centers in the next ten years in an effort to create a "new infrastructure" for the smart economy of the future. According to the press release, this will involve a bid "to have 5 million intelligent cloud servers by 2030 and train 5 million AI professionals within 5 years, which will help facilitate the widespread application of AI in transportation, city management, finance, energy, health care, and manufacturing to eventually achieve industrial intelligence." Haifeng Wang, Baidu's CTO, explained:
"New infrastructure--which encompasses emerging technologies like AI, cloud computing, 5G, IoT, and blockchain--will be the driver for China's economic development in the coming decades."
"As a world-leading AI platform company, Baidu is well positioned to make large contributions to the development of new infrastructure in China, which will support the implementation of AI applications in different industries."
Sonasoft Corp. (OTC:SSFT) announced that its new AI solution with Delaware Electric Cooperative (DEC) went live on June 29. The solution leverages Sonasoft's AI Bot Engine, NuGene, to predict peak electricity usage, allowing DEC greater efficiency and lower costs. Ankur Garg, Chief AI Officer at Sonasoft, explained:
"The model combines actual electricity load consumption and weather data to accurately forecast peak and non-peak days. This model has been trained and optimized to accurately predict both the type of peak and the precise timing of the peak. Furthermore, it then makes a precise recommendation for when to trigger an LC event and send out a Beat-the-Peak notice. This ability to make intelligent recommendations sets NuGene apart from other AI platforms."
Conversational Systems Market to Exhibit CAGR of 26.3% from 2020-2027 - Driven by AI-Powered Customer Support
A report from Grand View Research finds that the global Conversational Systems market, which was valued at $5.94 billion in 2019, will exhibit a compound annual growth rate (CAGR) of 26.3 percent in the forecast period 2020-2027. The report attributes this growth "to the rising demand for Artificial Intelligence (AI) powered customer support services." An excerpt from the report overview expands on this:
AI-powered customer support services help businesses in improving various aspects such as loyalty, online customer experience, preventive assistance, brand reputation, and even generation of revenue streams. Increasing advancements in Natural Language Processing (NLP) and dialog-exchanging tools is expected to fuel the market growth. Increasing deployment of the web business and cloud-based applications is expected to propel the adoption of NLP tools, thereby creating growth opportunities for the market.
Sam Mowers, Investorideas.com
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