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The AI Eye Podcast Episode 478: IBM (NYSE: $IBM) Expanding AI-Automated Solutions with Instana Acquisition and NICE (NasdaqGS: $NICE) Selected by Desjardins to Modernize Financial Crime Operations

 

Point Roberts, WA and Vancouver, BC - November 18, 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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The AI Eye Podcast Episode 478: IBM (NYSE: $IBM) Expanding AI-Automated Solutions with Instana Acquisition and NICE (NasdaqGS: $NICE) Selected by Desjardins to Modernize Financial Crime Operations

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

Stocks discussed: (NYSE:IBM) (NasdaqGS:NICE)

IBM (NYSE:IBM) has announced a definitive agreement to acquire application performance monitoring and observability company Instana, adding to its AI-powered automation capabilities. Rob Thomas, Senior Vice President, Cloud and Data Platform, IBM, explained:

"Our clients today are faced with managing a complex technology landscape filled with mission-critical applications and data that are running across a variety of hybrid cloud environments - from public clouds, private clouds and on-premises. IBM's acquisition of Instana is yet another important step that we are taking to provide companies with the most complete portfolio of AI-automated solutions to tackle this enormous challenge and help prevent unforeseen IT incidents that can cost a business in lost revenue and reputation."

NICE Ltd. (NasdaqGS:NICE) has been selected by Canadian financial cooperative Desjardins Group to provide modernization and expansion for the latter's "financial crime compliance program and operations." This expansion will combine "AI, machine learning, advanced analytics and superior domain expertise," to "optimize analysts' efficiency and boost coverage in key growth areas for the institution." Veronique Begnoche, Vice-President, Security Governance, Projects and Analytics, Desjardins Group, commented:

"Desjardins is excited to update its existing footprint in financial crime management, adopting AI and the other advanced technologies we need to succeed on behalf of our member institutions. As we leverage our ongoing partnership, we are confident that NICE Actimize's depth of experience and technology leadership will bring us the efficiencies we need to grow. Today's challenges require agility, broad domain expertise, and the ability to manage our growing demands around data. NICE Actimize's suite of advanced financial crime solutions will significantly improve our investigators' efficiency, contain costs and stay current with the ever-growing challenges of financial crime fighting."

Global Edge AI Software to Reach Nearly $3.8 Billion by 2028

A report published by Adroit Market Research finds that the global Edge AI Software market will reach nearly $3.8 billion by 2028. According to the report summary, "the increasing use cases," and the "the emergence of intelligent applications," in Edge AI Software are projected to drive the market's growth, whereas "the growing security concerns about data confidentiality is likely to hamper the market growth." An excerpt from the Analyst Commentary section of the report reads:

The growing enterprise workload on cloud across industry domains is the key reason driving the demand for edge AI software solutions. Moreover, in recent years, the growth and development of machine learning and artificial intelligence has buoyed the market incredibly. With the new use cases increasing day by day, the market is projected to increase several folds during the forecast year. However, the concern regarding data theft and data confidentiality are expected to hinder the market growth. The regulations regarding the ethical data use are also likely to hamper the growth of the market.

Sam Mowers, Investorideas.com

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