Point Roberts, WA and Vancouver, BC - September 30, 2020 (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.
Listen to today's podcast:AI Eye Episode 443: VMware (NYSE: $VMW) Partners with NVIDIA (NasdaqGS: $NVDA) for Next-Gen Cloud and AI
Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligenceStocks discussed: (NYSE:VMW) (NasdaqGS:NVDA) (TSXV:MVAI)
VMware, Inc. (NYSE:VMW) has announced a broad partnership with NVIDIA Corporation (NasdaqGS:NVDA) aimed at delivering "an end-to-end enterprise platform for AI and a new architecture for data center, cloud and edge that uses NVIDIA DPUs (data processing units) to support existing and next-generation applications." Jensen Huang, founder and CEO of NVIDIA, explained:
"AI and machine learning have quickly expanded from research labs to data centers in companies across virtually every industry and geography. NVIDIA and VMware will help customers transform every enterprise data center into an accelerated AI supercomputer. NVIDIA DPUs will give companies the ability to build secure, programmable, software-defined data centers that can accelerate all enterprise applications at exceptional value."
Minerva Intelligence Inc. (TSXV:MVAI) has signed a contract with a Canadian intermediate mining company for its new DRIVER product, which according to the press release "provides deep insights into previously untapped geometallurgical data." DRIVER works with Minerva's AI to provide geologists with models from which they can develop drilling strategies. The company's CEO, Scott Tillman, said:
"Our work on this project reaffirms the value of Minerva's AI technology for the mining and explorations sectors. We are gratified that companies are embracing DRIVER as a critical new tool in their toolbox, and we look forward to delivering valuable insights into their drilling data.
The continued validation of our software in the field of mineral extraction is proving the value of our cognitive AI technology both in the exploration process and with risk analysis. This new contract should further cement Minerva's reputation as a cutting-edge solutions provider in these domains."Global AI in Retail Market to Reach $23.32 Billion by 2027
A report published by Fortune Business Insights finds that the global AI in Retail market will grow from $3.01 billion in 2019 to $23.32 billion by 2027 with a compound annual growth rate (CAGR) of 29.6 percent in the forecast period 2020-2027. An excerpt from the report summary outlines potential restraints in the market's growth:
Well established retailers are trying every possible way to improve the engagement of their customers, however certain factors are limiting the AI in retail market growth. The giant suppliers and global level retailers like Walmart have already deployed an artificial intelligence-based system to their shops as well as to online portals. However, small and medium-sized retailers (SMEs) are still far away from the technology due to a lack of infrastructure and skilled expertise. The high implementation cost associated with the retail solutions is also a major barrier for small retailers which is limiting the adoption. These factors have restricted market expansion across SMEs.
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