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AI Eye Episode 393: VSBLTY Signs Strategic Agreement with Teralight for Smart City Enhancement and NICE (NasdaqGS: $NICE) RPA Partners with Minit

 

Point Roberts, WA and Vancouver, BC - July 21, 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 393: VSBLTY Signs Strategic Agreement with Teralight for Smart City Enhancement and NICE (NasdaqGS: $NICE) RPA Partners with Minit

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

Stocks discussed: (CSE:VSBY) (5VS.F) (OTC:VSBGF) (NasdaqGS:NICE)

VSBLTY Groupe Technologies Corp. (CSE:VSBY) (5VS.F) (OTC:VSBGF) and Teralight, a global provider of over-the-top (OTT) services to mobile network operators, internet service providers and governments, jointly announced the signing of a strategic alliance agreement to provide smart city applications enhanced with advanced analytics. Teralight CEO Melanie Salvador said:

"The market for IoT/IoE and smart city applications coupled with associated analytics is growing exponentially worldwide. With the advent of 5G/6G and Wi-Fi 6, the demand for artificial narrow intelligence, specifically video surveillance with smart analytics, is leading the way. VSBLTY offers a unique, affordable and peerless service offering which we intend to develop into a suite of hosted service offerings, bundled or a la carte, to our customers. We are pleased to partner with a company entrenched in the Americas. It allows us to work with our customers with confidence to deliver fantastic products together with custom deployment experience."

NICE Ltd. (NasdaqGS:NICE) has announced that it's Robotic Process Automation (RPA) business has partnered with mining software provider Minit to "help organizations discover optimal processes to automate graphically with unparalleled accuracy." The partnership brings together AI and analytics from NICE with Minit's "visual and interactive process maps and statistics." Barry Cooper, President of the NICE Enterprise Group, commented:

"Smart process automation discovery is a critical step in ensuring automation success. This partnership with Minit provides the most intelligent and comprehensive approach for choosing the processes most conducive to automation success with flawless precision."

Global AI Image Recognition Market to Reach $7.8 Billion by 2027

A report published by Research and Markets finds that the global AI Image Recognition market is projected to grow from $2 billion in 2020 to $7.8 billion by 2027 with a compound annual growth rate (CAGR) of 21.5 percent in that forecast period. An excerpt from the report's description outlines growth projections in different segments of the market:

Hardware, one of the segments analyzed in the report, is projected to grow at a 21.1% CAGR to reach US$2.7 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 23% CAGR for the next 7-year period. This segment currently accounts for a 41.5% share of the global AI Image Recognition market.

Sam Mowers, Investorideas.com

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