#AIEye Episode 453: Synopsys (NasdaqGS: $SNPS) to Collaborate with SiMa.ai on ML Platform, and KB Home (NYSE: $KBH) Introduces #AI Chatbot
Global Citizen Services AI Market to Exhibit CAGR of 46.4% from 2019-2026
Point Roberts WA, Vancouver BC – October 14, 2020 – 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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Today’s Column- The AI Eye- Watching stock news, deal tracker and advancements in artificial intelligence
Stocks discussed: (NasdaqGS:SNPS) (NYSE:KBH)
Synopsys, Inc. (NasdaqGS:SNPS) has announced a collaboration with SiMa.ai, a machine learning company, to bring its machine learning inference at scale to the embedded edge. Consequently, SiMa.ai has adopted products from Synopsys for the development of its MLSoC, described as “a purpose-built machine-learning platform targeted at specialized computer vision applications, such as autonomous driving, surveillance, and robotics.” Krishna Rangasayee, founder and CEO, at SiMa.ai, explained:
"Working closely with top-tier customers, we have developed a software-centric architecture that delivers high-performance machine learning at the lowest power. Our purpose-built, highly integrated MLSoC supports legacy compute along with industry-leading machine learning to deliver more than 30x better compute-power efficiency, compared to industry alternatives. We are delighted to collaborate with Synopsys towards our common goal to bring high-performance machine learning to the embedded edge. Leveraging Synopsys' industry-leading portfolio of IP, verification, and design platforms enables us to reduce development risk and accelerate the design and verification process."
KB Home (NYSE:KBH) has announced the launch of a company-wide AI-powered Chatbot platform aimed at answering home shopper questions, and streamline the home buying process. The Chatbot’s real-time conversational interface, which is available 24/7 “with synchronous translation in over 100 languages,” brings together AI, NLP, and automation technologies. Amit Desai, Chief Marketing Officer of KB Home, said:
"The homebuying experience is evolving to meet customer demands for rapid information, more convenience, less pressure and a better overall experience. In response, we continue to reimagine how buying a home works and are pleased to offer an innovative, AI-powered Chatbot platform that delivers a superior online customer experience and makes the homebuying journey even easier. Chatbot has already delivered improved customer engagement and increased sales leads."
Global Citizen Services AI Market to Exhibit CAGR of 46.4% from 2019-2026
Research published by Market Study Report finds that the global Citizen Services AI market, which was valued at $1 billion in 2018, will register a compound annual growth rate (CAGR) of 46.4 percent from 2019-2026. An excerpt from the report summary outlines the role of IT automation in the market’s growth:
Growing demand of IT infrastructure in government departments and need of automation processes are expected to drive the market growth. IT modernization helps in managing or replacing aging hardware and software solutions with more automated and innovative solutions. For instance, as per GovLoop, [the] U.S. government plans to invest 78 percent of USD $82 billion of federal IT spending on IT infrastructure. Furthermore, 5,233 of the government’s approximately 7,000 IT investments had been spent on all O&M activities. Such spending has increased over the last 7 years. Thus, rising IT infrastructure for advancing and modernizing manual processes is expected to drive the market growth.
Sam Mowers, Investorideas.com
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