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AI Eye Episode 415: IBM (NYSE: $IBM) Launching AI Assistant for Seoul and GoldSpot to Apply Machine Learning to Identify Mining Exploration Targets

 

Point Roberts, WA and Vancouver, BC - August 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 415: IBM (NYSE: $IBM) Launching AI Assistant for Seoul and GoldSpot to Apply Machine Learning to Identify Mining Exploration Targets

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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:SPOT) (TSXV:TEM)

IBM (NYSE:IBM) is collaborating with the South Korean city of Seoul to launch an AI-based virtual assistant for Seoul citizens using IBM Watson Assistant. The assistant, which is part of Seoul's "I Care You" project, is “designed to survey the changes to daily life and difficulties that citizens are experiencing due to the COVID-19 pandemic to help inform policy decisions moving forward,” according to the press release. Seon-Ae Jeong, the Director-General of Seoul Innovation, said:

"Through this survey using an AI-based virtual assistant, we have an opportunity to understand the situation and social problems of citizens due to COVID-19. This collaboration with IBM is a meaningful example of a public-private partnership. In the future, the results will be utilized to help develop various policies in Seoul City."

GoldSpot Discoveries Corp. (TSXV:SPOT) has been engaged by Tembo Gold Corp. (TSXV:TEM) to apply machine learning in identifying new exploration targets on the latter's flagship project in the Sukumaland Greenstone Belt, in Tanzania. Denis Laviolette, Executive Chairman and President of GoldSpot, said:

"An AI-company is only as strong as its people, and GoldSpot has built an arsenal of the brightest minds to have ever bridged the gap between geoscience and data science. Due to our technological expertise and success cases, we have been inundated with engagement requests and have the luxury of picking the best explorers with the highest potential to work with. We are excited to bring our big data solution to Tanzania and the Sukumaland Greenstone Belt."

Global Conversational AI Market to Reach $18.02 Billion by 2027

A report from Verified Market Research finds that the global Conversational AI market will grow from $3.89 billion in 2019 to $18.02 billion by 2027 with a compound annual growth rate (CAGR) of 21.02 percent in the forecast period 2020-2027. An excerpt from the report description outlines the impact of the COVID-19 pandemic on the market's growth:

The emergence of COVID-19 has surged the demand for conversational AI. The continuous lockdown across countries and the rising emphasis on work from home have eventually reduced the number of working people, particularly in the BPOs. The conversational AI offers various benefits, such as enhanced customer experience, easy scalability, optimized data collection, advanced customer service, and lessens overall operational cost. The rise in the demand for customer service assistance in banks, hospitals, and government bodies is contributing to the growth of the market.

Sam Mowers, Investorideas.com

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