Point Roberts, WA and Vancouver, BC – November 1, 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 620: Stocks discussed: (Nasdaq: $KLAC) (Nasdaq: $LTRN)
November 1, 2021
Today’s Column – The AI Eye – Watching stock news, deal tracker and advancements in artificial intelligence
Stocks discussed: (NasdaqGS:KLAC) (NasdaqCM:LTRN)
KLA Corporation (NasdaqGS:KLAC) has announced the opening of two facilities in Chennai, India, including the Artificial Intelligence-Advanced Computing Lab (AI-ACL) – operated in partnership with the Indian Institute of Technology (IIT) Madras – which “will serve as a center of excellence for AI-focused research and development.” Ahmad Khan, president, semiconductor process control at KLA, said:
“KLA is at the forefront of using AI technology in our process control systems to identify and isolate critical issues in chip manufacturing. To expand the reach of AI in our products and develop the next generation of AI innovations, we created our new AI-ACL research facility. Our researchers and engineers at AI-ACL join the AI experts at our AI Modeling and Center of Excellence in Michigan to form a global team committed to advancing the boundaries of AI, software, image processing and physics modeling.”
Lantern Pharma Inc. (NasdaqCM:LTRN) has announced that its proprietary A.I. platform RADR – which is used to “transform the cost, pace, and timeline of oncology drug discovery and development” – has exceeded 10.4 billion datapoints. The company’s President and CEO, Panna Sharma, explained:
“Our team has been well ahead of schedule in the growth of our platform, and RADR(R) has now surpassed 10.4 billion data points covering more cancer sub-types, which further advances our goal of building the most complete and powerful A.I. platform for precision oncology drug development. Additionally, the new data will drive insights and potential drug-candidate innovations faster and into areas of cancer that have remained untouched or intractable.”
Conversational AI Market to Reach $18.4B by 2026
A report published by Markets and Markets finds that the global Conversational AI market is projected to grow from $6.8 billion in 2021 to $18.4 billion by 2026, registering a compound annual growth rate (CAGR) of 21.8 percent in the forecast period. An excerpt from the report’s description outlines factors influencing the market’s growth:
The major factors driving the growth of the conversational AI market are the increasing demand for AI-powered customer support services, omnichannel deployment, and reduced chatbot development costs. Furthermore, the rising demand for AI-based chatbots to stay connected and informed during COVID-19 and increasing focus on customer engagement are the major factors adding value to the conversational AI offerings, which is expected to provide opportunities for enterprises operating in various verticals in the conversational AI market. The lack of accuracy in chatbots and virtual assistants and maintaining business continuity during the COVID-19 pandemic are the major challenges in the conversational AI market. Moreover, the lack of awareness about conversational AI solutions and the inability to identify customer intent and respond effectively act as the key restraining factors in the market.
Sam Mowers, Investorideas.com
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