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The #AIEye: Microsoft (Nasdaq: $MSFT) Adds New #AI And ML Services To Azure And Intel (Nasdaq: $INTC) Launches Sentiment Analysis For NLP Platform

|About: Intel Corporation (INTC), MSFT

The #AIEye: Microsoft (Nasdaq: $MSFT) Adds New #AI and ML Services to Azure and Intel (Nasdaq: $INTC) Launches Sentiment Analysis for NLP Platform

Legal AI Software Market to Hit $1.236 Billion by 2024

Point Roberts WA , Vancouver BC – May 3, 2019 – 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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Read this in full at The AI Eye: Microsoft (Nasdaq: MSFT) Adds New AI and ML Services to Azure and Intel (Nasdaq: INTC) Launches Sentiment Analysis for NLP Platform

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Today’s Column- The AI Eye- Watching stock news, deal tracker and advancements in artificial intelligence

Stocks discussed: (Nasdaq:MSFT) (Nasdaq:INTC)

Microsoft (NasdaqGS:MSFT) has announced new Azure services that allow developers to leverage AI, mixed reality, IoT and blockchain technologies. For the AI, the company is launching a new Cognitive Services category and adding innovations to their machine learning models. Scott Guthrie , executive vice president, Microsoft Cloud and AI Group, said:

"It's an incredible time to be a developer. From building AI and mixed reality into apps to leveraging blockchain for solving commercial business problems, developers' skill-sets and impact are growing rapidly. Today we're delivering innovative Azure services for developers to build the next generation of apps. With 95% of Fortune 500 customers running on Azure, these innovations can have far-reaching impact."

Intel (NasdaqGS:INTC) has introduced an Aspect-Based Sentiment Analysis (ABSA) algorithm to their NLP (Natural Language Processing) Architect platform. According to the blog announcement:

“Sentiment Analysis (SA) is the task of detecting subjective information from text. SA is widely used by business organizations to understand customer opinions on products and services, enabling the ability to react accordingly. Most academic and industry research is focused around sentence-level SA, which generates a single sentiment score (positive/negative) per sentence. While this approach achieves high accuracy, it has a major drawback: many sentences include more than one aspect (sentiment target), each with its own sentiment polarity”.

The blog goes on to describe Aspect-Based Sentiment Analysis (ABSA):

“ABSA is the task of extracting aspect terms and their related sentiment polarity. This fine-grained trait of ABSA makes it an effective application for organizations to monitor the ratio of positive to negative sentiment expressed towards specific aspects of a product or service, and extract valuable targeted insight.”

Legal AI Software Market to Hit $1.236 Billion by 2024

New research from Markets and Markets finds that the legal AI software market will grow from $317 million in 2019 to $1.236 billion in 2024 with a compound annual growth rate (OTCPK:CAGR) of 31.3 percent. The report description summarizes the application in contract management and services segment:

Contract management application is gaining traction in the global legal AI software market. Law firms and corporate legal departments spend a significant amount of time in the contract review process to analyze the risk, and opportunities associated with the same. Here, AI-powered solutions can help them analyze the language of the contract and the meaning of the clauses. Also, AI-powered tools designed for contract analysis can read and analyze incoming contracts and suggest changes based on predefined rules/policies.

The services offered in the legal AI software industry are training and consulting, system integration and testing, and support and maintenance services. The services play a vital role in the functioning of legal AI software solutions. The legal AI software vendors require technical support services and consulting services to manage the deployment of AI-based solutions in the market. With an increasing need to perform various legal jobs effectively, the demand for services segment is expected to grow in coming years.

Sam Mowers, Investorideas.com

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