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AI Eye Episode 481: NICE (NasdaqGS: $NICE) Announces Next-Gen of AI-Powered IFM-X Platform, and Minerva Signs Contract with Freeport Resources for AI Mining Solutions

 

Point Roberts, WA and Vancouver, BC - November 23, 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 481: NICE (NasdaqGS: $NICE) Announces Next-Gen of AI-Powered IFM-X Platform, and Minerva Signs Contract with Freeport Resources for AI Mining Solutions

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

Stocks discussed: (NasdaqGS:NICE) (TSXV:MVAI) (TSXV:FRI)

NICE Actimize, a subsidiary of NICE Ltd. (NasdaqGS:NICE), has announced the next-gen version of its AI and machine learning-powered Integrated Fraud Management (IFM-X) platform. According to the press release, this new version "introduces new capabilities that support financial services firms' digital acceleration strategies with fraud management solutions for digital, real-time and open banking channels." Craig Costigan, CEO, NICE Actimize, explained:

"Financial services organizations require advanced data capabilities and automation to support their journey of digitalization to stay competitive and provide optimal customer experiences. New market factors are influencing financial institutions' strategies, including their reliance on specialized fraud solutions which enable scalable fraud coverage across an increasingly complex environment. The AI-driven IFM-X platform is designed to address these evolving needs."

Minerva Intelligence Inc. (TSXV:MVAI) has signed a contract with mining company Freeport Resources Inc. (TSXV:FRI) to provide the latter with its TERRA Mining AI suite, including the Company's DRIVER, TARGET, SOLACE and LEO solutions. Freeport will apply these solutions to its Star Mountains project in Papua New Guinea "to enhance its next phases of surface and sub-surface exploration." Minerva CEO Scott Tillman said:

"We continue to see growing demand for our TERRA Mining AI solutions as innovative companies such as Freeport actively seek out technologies that make their workflow processes more efficient and more insightful. The Star Mountains project reaffirms the value Minerva's AI technology can bring to the mining and explorations sectors, and we look forward to quickly providing deep insights into Freeport's newly acquired data assets."

Global AIOps Market to Reach $23.7 Billion by 2025

A report published by Adroit Market Research finds that the global AIOps market will grow to $23.7 billion by 2025. The report describes AIOps as "a cognitive platform that leverages advanced technologies such as AI/ML and predictive analytics to improve IT operations management." An excerpt from the report summary outlines the factors influencing the market's projected growth:

This can be attributed to the increasing investments in digital transformation and the growing adoption of cloud and hybrid infrastructure. Meanwhile, it is essential to have skilled employees or users in the operations team to improve process efficiency. It has been observed that these teams lack people capable of understanding AIOps outcomes and take necessary actions quickly. therefore, the limited availability of skilled users will hamper the growth of the AIOps market.

Sam Mowers, Investorideas.com

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