Technological Innovations in Artificial Intelligence is on the Rise
NEW YORK, June 4, 2018 /PRNewswire/ --
The significant advancements made over the last decade in the abilities and cost of parallel computing, algorithms, big data and the transfer to the cloud is expected to bring artificial intelligence (AI) out of laboratories and into the mainstream world. AI is broadly defined as any intelligence demonstrated by machines or software. If a machine is capable of doing more than processing data, for example deriving knowledge from it, and augmenting human decision making, it can be considered as AI. According to data published by Grand View Research, the global artificial intelligence market is projected to reach USD 35.87 billion by 2025, while growing at a CAGR of 57.2 percent. Internet of Things Inc. (OTC: INOTF), Accuray Incorporated (NASDAQ: ARAY), Yext, Inc. (NYSE: YEXT), Black Cactus Global Inc. (OTC: BLGI), Gopher Protocol Inc. (OTC: GOPH)
A report by Goldman Sachs emphasized the sweeping changes AI is already causing across a variety of sectors, including advertising (programmatic ad buying), retail (customized recommendations) and investing. "With other sectors becoming increasingly data-intensive we see its tentacles reaching healthcare and manufacturing as well as logistics and energy consumption. The ability to think and learn enables AI-aided technologies to constantly improve and refine and when applied to decision making in businesses we believe this can lead to better cost and capital allocation, lower error rates and accelerated innovation. AI is aimed at augmenting human decision making, but in many areas it could replace humans or resolve the shortage of human skills," Goldman Sachs wrote.
Internet of Things Inc. (OTC: INOTF) also listed on the TSX Venture Exchange under the ticker (TSX-V: ITT). Last week the company announced breaking news that it, "Is pleased to provide a corporate update detailing its recently accomplished milestones and current growth initiatives. Appointment of President & COO - IoT Inc. recently announced the appointment of James Sutcliffe as President & COO. Mr. Sutcliffe will oversee operations, investee companies and merger & acquisition opportunities.
Mr. Sutcliffe brings more than 20 years' experience in global operational and financial leadership. Earlier in his career, he was as a key member of a management team that grew a Fortune 150 Tier 1 automotive supplier's Asian operations ten-fold. During this time, Mr. Sutcliffe held senior corporate development, finance and executive management roles. Spearheading entry into new markets in Asia, he was instrumental in guiding start-ups and acquisitions in China, India and Korea.
Mr. Sutcliffe commented, "IoT Inc. is at a critical inflection point given its growth opportunities in Asia and North America. I am excited to leverage my relationships and operating experience as the company pursues very compelling and complementary accretive acquisitions."
Corporate Repositioning: The Company has developed a new website designed to encourage investor signups and inbound business opportunities and enhanced marketing collateral including a new corporate presentation. In addition, IoT Inc. has signed up to participate in investor focused conferences over the next few months to raise awareness. This corporate repositioning reflects the new strategic vision of the Company and will serve as the foundation to expand its strategic plan to acquire and operate growth-ready technology companies. Equity Financing: After the original public announcement of a private placement financing in December 2017, the Company closed an over-subscribed funding round of $2,300,000. This working capital provides a sufficient runway to continue execution of its long-term corporate growth strategy and to pursue strategic acquisitions.
Portfolio Company Updates: Weather Telematics Inc. The Company announced that it has entered into a letter of agreement to acquire Weather Telematics Inc. ("WTX Inc." or "Weather Telematics"), a data science company offering real-time advanced AI-based predictive road condition weather analytics for safer, connected and autonomous transportation. For further details read the May 14, 2018 press release. Weather Telematics recently announced a partnership with Teletrac Navman, a global software-as-a-service provider that leverages location-based technology for GPS tracking solutions, to provide dynamic weather data including a real-time view of hazardous road conditions to the DIRECTOR(R) fleet management platform.
New Hope IoT Intl. Inc. (or the "JV") - Management is pleased with the progress that continues to be made with factory automation initiatives as IoT Inc. expands its presence in Greater China. The JV continues to make headway with artificial intelligence in China and pending the closing of WTX Inc., the Company will look to leverage their unique data and technology by integrating it into its manufacturing process optimization platform to turn traditional manufacturing operations into smart industrial IoT enabled facilities.
About Internet of Things Inc. - Internet of Things Inc. is a strategic investor in growth-ready companies with innovative technology solutions. The Company creates value through its portfolio companies' expertise in the IoT, AI and Blockchain solutions, by turning data into actionable intelligence to drive more efficiency into organizations. The Company has a joint venture partnership, New Hope IoT Intl Inc., with New Hope Data Technology Co. Ltd. Internet of Things Inc. also has strategic investments in Braingrid Corp. and Blockstrain Technology Corp. and has its headquarters in Toronto, Canada."
Accuray Incorporated (NASDAQ: ARAY) recently announced that Daniela Schmitt, PhD, a medical physicist at Heidelberg University Hospital, took top honors in the overall category of the 2018 TROG Plan Study: Stereotactic Radiosurgery (SRS) Brain, with a plan she created using the Accuray Precision(R) Treatment Planning System. Dr. Schmitt developed a plan for delivery on the CyberKnife(R) M6(TM) System, a device designed from the ground up to deliver SRS treatments with precision and accuracy, and without an invasive frame. The study, hosted by TROG Cancer Research and ProKnow, received 160 entries from clinicians around the world. Of these submissions, only 10 percent were plans produced by the proprietary Accuray Precision System or the MultiPlan(R) TPS for the CyberKnife platform, while the remaining 90 percent were created using treatment planning software for other delivery systems, making a win by a physicist using Accuray TPS even more impressive. The CyberKnife(R) System empowers clinicians to make the most of their skills in treating cancer. It's the only robotic radiosurgery system that offers highly precise, non-surgical treatment for tumors and lesions anywhere in the body - including the prostate, lung, brain, spine, liver, pancreas and kidney.
Yext, Inc. (NYSE: YEXT) is the leading Digital Knowledge Management (DKM) platform. Recently, the company announced its Spring '18 Product Release is now live for all Yext customers and partners. The Spring '18 Release, previously launched for early access, includes 15 game-changing new Knowledge Assistant skills and additional enhancements across the Yext Knowledge Engine. The Knowledge Assistant is an intelligent, conversational user interface that allows Yext users to use SMS text messaging or Facebook Messenger to manage the public facts about their brands and understand how customers engage with them.
Black Cactus Global Inc. (OTC: BLGI) is a technology development company with a focus on Blockchain, machine learning, crypto currency, and the Internet of Things. On May 17, 2018, the company announced that the company has completed a share exchange agreement with the Blockchain development subsidiary, Black Cactus Global Technologies Pvt. Limited. The agreement calls for the BLGI to own an initial 29% interest in BCG-TPL which has already achieved significant milestones that will enable BLGI to scale-up development activities. BCG-TPL has already setup a Blockchain development center (see gallery on website) in the newly developed Vizag Software Technology Park in Visakhapatnam, India, known as "FinTech" Valley. The development center is currently staffed with 50 developers, with a workspace capacity for a total of 175 developers. This modern facility, will house one of the larger Blockchain development teams, it will enable Black Cactus Global to service its clients in an extremely professional and effective manner, and to deliver on the promise of Blockchain technology.
Gopher Protocol Inc. (OTCQB: GOPH) is a development-stage company which consider itself Native IoT creator, developing Internet of Things (IoT) and Artificial Intelligence enabled mobile technology. Recently, the company formed a joint venture with the formation of a limited liability company, Gopher Protocol Costa Rica Sociedad De Responabilidad Limitada, in Costa Rica with the Lara Group with both parties owning 50% of Gopher CR, which will be managed by Mauricio Lara Ramos, Esq. Gopher CR intends to invest and develop AI-BlockChain assets or businesses in Latin America with initial efforts focused on smart contracts.
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