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AI Eye Podcast 726: Stocks discussed: (NYSE: $ACN) (NYSE: $QTWO)
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Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence
Stocks discussed: (NYSE:ACN) (NYSE:QTWO) Accenture ( ) has a collaboration with confectionary, food, and pet care products and services firm Mars to 'transform and modernize its global manufacturing operations with artificial intelligence (AI), cloud, edge technology and digital twins.' The two companies, according to the press release, will 'create a new cloud platform for manufacturing applications, data and artificial intelligence (AI) to lay the foundation for its vision of the 'Factory of the Future,' which will 'provide next-generation robotics, AI and automation capabilities at the edge.' Simon Osborne, a managing director at Accenture, said:
'The problems we're solving aren't new; what's new is how we use advanced technologies to get real-time data into operators' hands and apply AI to help them make decisions before problems occur. While many companies are beginning to experiment with digital twins, what sets this project apart is the speed and scaling of the technology across Mars' operations globally.'
Digital banking solutions firm Q2 Holdings, Inc. ( ) has Sensibill, a private firm with an AI-powered machine learning platform that captures SKU-level spend data to give insights to financial institutions and fintech companies. Kirk Coleman, Chief Banking Officer of Q2, said:
'Delivering differentiated and personalized experiences through the digital channel is a top priority. Sensibill's solution enables financial institutions to better understand the spending behaviors of their account holders, positioning them to deliver tailored products and services, drive loyalty and increase engagement.'
Global AI in BFSI Market to Increase by $32.97B from 2021-26
A report published by finds that the global AI in BFSI (Banking, Finance Services, and Insurance) market is projected to grow by $32.97 billion USD from 2021 to 2026, registering a compound annual growth rate (CAGR) of 36.68 percent in the forecast period 2022-26. The following excerpt from the report's description outlines some factors impacting the market's growth:
The banking and financial services industries are adopting AI-based solutions to improve their operational efficiency and improve customer experience. Increasing customer expectations in terms of improved service delivery are driving traditional banks and financial institutions to adopt advanced technologies such as AI and big data. The traditional approaches of banks and insurance firms will not be sustainable going forward owing to the huge volumes and variety of data being generated. Hence, BFSI companies are focusing on implementing AI solutions and data analytics to achieve better insights from the data collected.
Sam Mowers, Investorideas.com
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