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AI Eye Podcast 610: Stocks discussed: (NYSE: $ORCL) (NYSE: $VZ) (NasdaqGS: $XRX)

Oracle Adds New AI Capabilities to Financial Services Compliance Application, and Verizon Business Partners with CareAR to Enhance Service and Customer Experience

 

Point Roberts, WA and Vancouver, BC - October 4, 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 610: Stocks discussed: (NYSE: $ORCL) (NYSE: $VZ) (NasdaqGS: $XRX)

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

Stocks discussed: (NYSE:ORCL) (NYSE:VZ) (NasdaqGS:XRX)

Oracle Corporation (NYSE:ORCL) has announced new AI governance capabilities to its Oracle Financial Services Compliance Studio application, including "a new visualization canvas that fosters more inclusive machine learning model creation, alerts for potentially sensitive issues, and new in-memory sandboxes to more easily create and refine models." John Edison, group vice president, software development, Oracle Financial Services, explained:

"There is clear consensus across financial institutions that AI and machine learning have tremendous potential to increase the effectiveness of anti-money laundering and other financial crime detection programs, and deliver higher efficiencies in the investigative process. However, there are hurdles to ensuring that AI is used responsibly and ethically in a way that is fair, transparent, and easily understood. The new capabilities in Oracle Financial Services Compliance Studio provide the right governance and controls required to meet these objectives."

Verizon Business (NYSE:VZ) and CareAR, a subsidiary of Xerox (NasdaqGS:XRX), have announced a strategic partnership to transform the latter's service and customer experience. This will bring together Verizon's 4G, 5G networks, and near real-time compute technology with CareAR's augmented reality and AI-based platform, allowing technicians to "remotely and proactively resolve service issues faster, smarter and more safely, leading to a more efficient customer experience." CareAR's President, Sam Waicberg, said:

"CareAR is focused on making expertise accessible - instantly and with context. Users are empowered with on-demand visual access to experts and instructional content delivered to their preferred device. Our strategic partnership with Verizon enables us to push these capabilities even further, resulting in improved customer outcomes and helping to solve major challenges for service providers, such as reducing carbon emissions and bridging the talent gap."

Global Edge AI Software Market to Reach $2.27B in 2027

A report published by Market Research Future finds that the global Edge AI Software market is projected to reach $2.27 billion USD in 2027, registering a compound annual growth rate (CAGR) of 21.3 percent in the forecast period 2021-2027. An excerpt from the report's description outlines drivers influences the market's growth:

There is a broad list of edge AI applications. Facial recognition and real-time traffic reports on smartphones and semi-autonomous vehicles or intelligent devices. Video games, smart speakers, robots, drones, security cameras, and wearable health monitoring devices are among the other Edge AI-enabled items. The security camera detection procedure will benefit from edge AI. Traditional surveillance cameras capture images for hours before storing and using them as needed. With Edge AI, however, the algorithmic procedures will be carried out in real-time in the system itself, allowing the cameras to detect and process suspicious activity in real-time, resulting in more efficient and cost-effective services. The capacity of autonomous vehicles to process data and images in real-time to identify traffic signs, pedestrians, other cars, and roads will rise through Edge AI, enhancing transportation security.In terms of industrial IoT, Edge AI will lower costs and increase safety (IIoT). Machine Learning will recompile data in real-time of the entire process, while AI will watch machinery for probable defects or faults in the production chain.

Sam Mowers, Investorideas.com

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