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AI Eye Episode 392: IBM (NYSE: $IBM) Allies with EY for Digital Transformations and NexOptic Creates AI for ISP Tech

 

Point Roberts, WA and Vancouver, BC - July 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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AI Eye Episode 392: IBM (NYSE: $IBM) Allies with EY for Digital Transformations and NexOptic Creates AI for ISP Tech

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

Stocks discussed: (NYSE:IBM) (TSXV:NXO)

IBM (NYSE:IBM) has announced an enhanced, global multi-year alliance with professional services giant Ernst & Young (EY) to "help organizations accelerate digital transformation and improve client outcomes." Carmine Di Sibio, EY Global Chairman and CEO, explained:

"The EY-IBM Alliance is built on providing differentiating and transformational business value for clients. As organizations learn how to adapt to today's new normal, leveraging the cloud, AI, analytics and other technologies have become increasingly important. IBM is a proven leader in hybrid cloud and AI, and together we're developing innovative solutions to help provide the sustainability and resiliency that assist clients to operate and lead today, and in the years to come, as they reframe their future amidst an unpredictable and rapidly evolving environment."

NexOptic Technology Corp. (TSXV:NXO) has announced that it has created a "revolutionary AI that transforms Image Signal Processors (ISP) technology." According to the press release, this AI was engineered into the company's All Light Intelligent Imaging Solutions (ALIIS), and is "immediately available to OEM customers through Nexoptic's alliances with leading semiconductor companies." Kevin Gordon, NexOptic's VP of AI Technologies, commented:

"We're now able to leverage the speed and efficiencies of AI accelerators in order to provide full imaging pipeline solutions to customers. Our 'end-to-end' architecture allows OEM's to side-step the need for hardware ISP's when using AI-accelerators, and with the added benefit of improving our existing ALIIS features."

Global AI in Fintech Market to Reach $13.6 Billion in 2025

A report from Market Data Forecast finds that the global AI in Fintech market will grow from $5.3 billion in 2019 to $13.6 billion in 2025 with a compound annual growth rate (CAGR) of 40.4 percent in the forecast period 2020-2025. An excerpt reads:

The Fintech space is one of the fastest growing industries worldwide due to the increasing penetration of internet users. Users are rapidly switching to mobile devices for transactions or related actions due to the growing ease and growing internet user base. Third-party apps have embedded in-app transaction systems in various areas like the Asia-Pacific. This will raise the bar for cyber-attacks and the potential for fraud with which the integration of artificial intelligence is expected to gain ground and drive market growth during the forecast period. The increasing number of frauds in this industry is mitigated by using artificial intelligence by collecting big data in which the machine learns the pattern and monitors user behavior and takes action or reports accordingly.

Sam Mowers, Investorideas.com

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