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AI Eye Podcast 576: Stocks discussed: (NYSE: $GE) (NYSE: $TIXT)

GE Healthcare Signs LOI with SOPHiA GENETICS, and Telus International Acquires Playment

 

Point Roberts, WA and Vancouver, BC - July 6, 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 576: Stocks discussed: (NYSE: $GE) (NYSE: $TIXT)

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

Stocks discussed: (NYSE:GE) (NYSE:TIXT)

GE Healthcare, the healthcare business of General Electric (NYSE:GE), has signed a letter of intent with SOPHiA GENETICS "to collaborate on advancing cancer care, with the goal of better targeting and matching treatments to each patient's genomic profile and cancer type, helping to ensure the most effective and personalized treatment." According to the press release, the two firms plan "to develop new artificial intelligence (AI)-powered analytics and workflow solutions to serve both the clinical and biopharma markets." Jan Makela, President & CEO, Imaging at GE Healthcare, said:

"The integration of genomics-based artificial intelligence into oncology workflow solutions would be a major breakthrough for integrated cancer medicine and for future clinical research, which increasingly depend on the ability to select those patients most likely to respond to new therapies. This collaboration represents another step in GE Healthcare's vision of making precision health-more efficient and personalized care- a reality."

Telus International Inc. (NYSE:TIXT) has announced the acquisition of data annotation and computer vision tools and services leader Playment. Telus International President and CEO Jeff Puritt, commented:

"The acquisition will meaningfully accelerate our company's computer vision capabilities and further bolster our position at the forefront of our global peers with respect to technology innovation, strategy excellence and talent. As one of the key enabling technologies for today's advanced AI applications, computer vision is among the most revolutionary technologies of our generation with applications across every sector of the economy. The technology has become increasingly valuable to tech firms and the wider market as brands seek to uncover solutions for scenarios that typically require complex human judgement from visual and spatial patterns to solve nuanced business challenges, and build innovative, market-leading smart products and services."

AI in Industrial Sector Market to Grow by $13.26B from 2021-2025

A report published by Technavio projects that the market for AI in the Industrial sector will see incremental growth of $13.26 billion from 2021-2025 with a compound annual growth rate (CAGR) of 46.73 percent in the forecast period. According to the report's snapshot:

"The increase in adoption of data-guided decision making is notably driving the artificial intelligence market growth in the industrial sector, although factors such as need for technical knowledge amongst operators may impede market growth."

Sam Mowers, Investorideas.com

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