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AI Eye Episode 426: Wipro (NYSE: $WIT) Publishes Intelligent Enterprises Report with AI Findings, and Sonasoft's AI Bot is Saving Millions for DEC Members

 

Point Roberts, WA and Vancouver, BC - September 4, 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 426: Wipro (NYSE: $WIT) Publishes Intelligent Enterprises Report with AI Findings, and Sonasoft's AI Bot is Saving Millions for DEC Members

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

Stocks discussed: (NYSE:WIT) (OTC:SSFT)

Wipro Limited (NYSE:WIT) published a report titled State of Intelligent Enterprises, which emphasizes the role of Artificial Intelligence, Analytics, Machine Learning, Deep Learning and Automation in solving business problems and driving innovation in the future. Notably, one of the report's key findings was that:

95% of business leaders surveyed see AI as critical to being Intelligent Enterprises, yet, currently, only 17% can leverage AI across the entire organization.

Jayant Prabhu, Vice President & Head - Data, Analytics & AI, Wipro Limited, commented:

"Organisations now need new capabilities to navigate the current challenges. The report amplifies the opportunity to gain a first-mover advantage to being Intelligent. The ability to take productive decisions depends on an organization's ability to generate accurate, fast and actionable intelligence. Successful organisations are those that quickly adapt to the new technology landscape to transform into an Intelligent Enterprise."

Sonasoft Corp. (OTC:SSFT), through its AI bot solution, is helping Delaware Electric Cooperative (DEC) members save millions on their electricity bills by providing more accurate peak forecasts. Ankur Garg, Chief AI Strategy Officer at Sonasoft, explained:

"Sonasoft's AI solutions are built on our unique NuGene engine. NuGene takes data from multiple disparate sources and is able to spot relevant correlations that other AI tools simply miss. Even better, the models leverage continuous learning. This allows them to become more and more accurate as well as giving them the flexibility to adapt to changing circumstances."

AI in Social Media Market to Reach $3.714 Billion by 2025

A report from Mordor Intelligence finds that the global AI in Social Media market will grow from $815.33 million in 2019 to $3.714 billion by 2025 with a compound annual growth rate (CAGR) of 28.77 percent in the forecast period 2020-2025. The following excerpt outlines the role of AI in Social Media for the retail sector:

  • AI is enabling the retail industry to provide personalized product recommendations, data-driven in-store experiences and image recognition search through consumer's social posts uncovering hidden patterns in the massive datasets.
  • According to a recent study by IBM Corporation, 91% of retail executives familiar with Artificial Intelligence believe that it will play a disruptive role in their organization.
  • For retailers like Target, Walmart, and others, which depend on increased consumer expenditure and strong competition from e-commerce platforms, AI adoption for boosting sales and loyalty is crucial.

Sam Mowers, Investorideas.com

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