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AI Eye Podcast 704: Stocks discussed: (NasdaqGS: NICE) (OTC: RNECY)

NICE Actimize Xceed Chosen by American State Bank for Financial Crime Strategy, and Renesas Electronics to Acquire Reality AI

 

Vancouver, Kelowna, Delta, BC - June 10, 2022 (Investorideas.com Newswire) 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 704: Stocks discussed: (NasdaqGS: NICE) (OTC: RNECY)

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

Stocks discussed: (NasdaqGS:NICE) (OTC:RNECY)

NICE Actimize, a subsidiary of NICE Ltd. (NasdaqGS:NICE), has announced that Texas-based financial institution American State Bank has selected NICE Actimize Xceed, described as "an all-in-one AI fraud and anti-money laundering platform," to drive its restructured financial crime strategy. Craig Costigan, CEO, NICE Actimize, commented:

"By providing a single platform leveraging AI, data intelligence and behavioral analytics, NICE Actimize Xceed provides mid-sized financial institutions with superior financial crime and compliance risk management. We look forward to supporting American State Bank's new financial crime management platform and its future growth in the market."

Advanced semiconductor solutions provider Renesas Electronics Corporation (OTC:RNECY) has entered into a definitive agreement with Reality Analytics, Inc. (Reality AI), a leading provider of embedded AI solutions, under which Renesas will acquire Reality AI in an all-cash transaction. This, according to the press release, "will significantly enhance Renesas' endpoint AI capability, providing more flexibility and efficiency for system developers to make their products AIoT (Artificial Intelligence of Things) ready and get to market faster." Hidetoshi Shibata, President and CEO of Renesas, said:

"The importance and demand of data at the endpoint is increasing at an unprecedented scale. The acquisition of AI technology is an important milestone to address our customers' emerging requirements for endpoint intelligence. The addition of Reality AI's AI solutions to our existing embedded AI portfolios will further solidify our position as a leading AIoT solution provider."

Global AI in BFSI to Reach $84.33B in 2028

A report published by Research Dive finds that the global AI in BFSI (Banking, financial services, and insurance) is projected to grow from $21.06 billion in 2020 to $84.33 billion in 2028, registering a compound annual growth rate (CAGR) of 19.1 percent in the forecast period 2021-28. The following excerpt from the report's overview highlights some key factors contributing to the market's growth:

The implementation of AI based technologies in BFSI such as robotic process automation (RPA) and natural language processing (NLP) is expected to open new scope of opportunities for the market in the forecast period. Software that mimics rules-based digital tasks performed by humans is being applied in banking to eliminate much of the time-intensive and error-prone work involved in entering customer data from contracts, forms, and other sources. These factors are expected to open new scope of opportunities for the market in the forecast period.

Sam Mowers, Investorideas.com

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