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AI Eye Podcast 538: Stocks discussed: (NYSE: $PHG) (NasdaqGS: $VERI)

Royal Philips Partnering with Orbita for Next Gen Virtual Assistants, and Veritone Wins 2021 AI Excellence Award

 

Point Roberts, WA and Vancouver, BC - March 29, 2021 (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 Podcast 538: Stocks discussed: (NYSE: $PHG) (NasdaqGS: $VERI)

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

Stocks discussed: (NYSE:PHG) (NasdaqGS:VERI)

Royal Philips (NYSE:PHG) is partnering with conversational AI solutions for healthcare provider Orbita, Inc., to "co-create next-generation conversational virtual assistants for Philips' consumer health and patient support applications." Henk van Houten, CTO and Head of Philips Research, explained:

"With the acceleration in the adoption of telehealth during the COVID-19 pandemic, AI-enabled voice services, virtual assistants and chatbots are already playing an enabling role in driving 24/7 access to healthcare, enhancing patient engagement, and improving clinical efficiency. Orbita is a not only a leader and innovator in voice and chat-powered virtual assistants that deliver the human touch needed in healthcare, but also a company that can keep up with the rapid pace of telehealth innovation that Philips is determined to pursue."

Veritone, Inc. (NasdaqGS:VERI) has been named the winner in the 2021 Artificial Intelligence Excellence Awards by Business Intelligence Group for its patented suite of real-time AI-powered Veritone Energy Solutions. The suite was launched in the fall of 2020, and according to the press release, optimizes "smart grid energy distribution by continuously knowing how much of what type of energy to deliver where, providing grid resilience and autonomous microgrid management when portions of the grid fail, and optimal economic dispatch during normal operations." Chad Steelberg, CEO and founder of Veritone, said:

"We are honored to be recognized as a top AI company for our suite of AI-powered energy solutions. As the world transitions to more renewable energy resources, the unpredictability of these green energy sources poses a challenge to supply and demand. AI enables grid operators and developers to better forecast, dispatch and store energy in real-time enabling a smooth transition to renewables."

Global AI in Fintech Market to Reach $26.67B by 2026

Research from ReportLinker finds that the global AI in Fintech market is expected to grow from $7.91 billion in 2020 to $26.67 billion by 2026 with a compound annual growth rate (CAGR) of 23.17 percent in the forecast period 2021-2026. An excerpt from the report's summary outlines some of the growing application of AI in the market:

Fintech has been undergoing a continued evolution in the landscape of investment management. Advanced technology and solution adoption, including the use of big data, AI, and machine learning (ML) to help businesses evaluate investment opportunities, optimize their investment portfolios, and mitigate the associated risks have been clinical in the technology adoption.

The investment advisory services, for instance, are undergoing radical changes with the growth and evolution of automated wealth advisers. These advisers can assist the investors without the intervention of a human adviser, and can also be used in combination with a human adviser. It extends the ability to provide tailored, actionable advice to its investors with ease of access, at a partially lower cost.

Sam Mowers, Investorideas.com

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