AI Eye Podcast: Stocks discussed: (NasdaqGS: INTC) (NYSE: PLTR)
Intel Shares Portfolio of Future HPC and AI Products, and Palantir Developing AI Model with Fashion Retailer C&A Modas
Vancouver, Kelowna, Delta, BC - May 23, 2023 (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.
Today's podcast is sponsored by Fintech Company AppTech Payments Corp. (NasdaqCM:APCX).
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AI Eye Podcast: AI stocks in the news: (NasdaqGS: $INTC) (NYSE: $PLTR)
Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence
Stocks discussed: (NasdaqGS:INTC) (NYSE:PLTR)
Intel (NasdaqGS:INTC) has showcased its portfolio of future HPC and AI products and announced an ambitious international effort to use the Aurora supercomputer to develop generative AI models for science and society at the ISC High Performance Conference in Hamburg, Germany. Jeff McVeigh, Intel's corporate VP and general manager of the Super Compute Group, explained:
"Intel is committed to serving the HPC and AI community with products that help customers and end-users make breakthrough discoveries faster. Our product portfolio spanning Intel® Xeon® CPU Max Series, Intel® Data Center GPU Max Series, 4th Generation Intel® Xeon® Scalable Processors and Habana® Gaudi®2 are outperforming the competition on a variety of workloads, offering energy and total cost of ownership advantages, democratizing AI and providing choice, openness and flexibility."
Palantir Technologies Inc. (NYSE:PLTR) and fashion retailer C&A Modas S.A have announced the development of an Integrated Management Flow system using the Palantir Foundry platform. Foundry, according to the press release, is "a platform for AI-powered operations," and "supercharges existing technology investments to bridge siloed planning and execution processes, optimize inventory management, and help build supply chain resilience for economic and geopolitical uncertainty." Bruno Ferreira, Planning and Business Intelligence Director for C&A Brazil, said:
"We are the first Brazilian fashion retail brand to rely on this artificial intelligence technology. The flow developed allowed us to optimize and speed up the entire purchase process: from the initial planning, to sending the products to the stores. Among the significant gains, I'd highlight the increase of sales of products that were in stock and the reduction of unnecessary overstock."
Global AI Market to Reach $718.7B by 2029
A report published by Fairfield Market Research finds that the global market for Artificial Intelligence is projected to grow from $29.9 billion USD in 2019 to $718.7 billion by 2029, registering a compound annual growth rate (CAGR) of 31.2 percent in the forecast period 2022-30. The following excerpt from the report's description outlines the impact of AI on the BFSI (banking, financial services and insurance) market, which represents the highest rate of adoption in the AI market.
With more than 28% revenue share in the global artificial intelligence market, the BFSI segment will continue to surge ahead in the long term. Widening uptake of the AI technology for FinTech applications, risk assessment, financial analysis, portfolio or investment management, and regulatory compliance is expected to drive top performance of the BFSI industry in terms of AI consumption in the worldwide AI industry. Rampant e-Commerce expansion represents a strong factor underpinning the next key positioning of the e-Commerce segment in uplifting the prospects of the AI market.
Sam Mowers, Investorideas.com
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