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The #AIEye: IBM (NYSE: $IBM) Readies Businesses For #AI By Bringing Enhancements To Cloud Pak, HPE (NYSE: $HPE) Announces ML Ops Solution

|About: Hewlett Packard Enterprise Company (HPE), IBM

The #AIEye: IBM (NYSE: $IBM) Readies Businesses for #AI by Bringing Enhancements to Cloud Pak, HPE (NYSE: $HPE) Announces ML Ops Solution

Global #AI Systems Spending to Reach $97.9 Billion by 2023

Point Roberts WA, Vancouver BC – September 10, 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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Today’s Column- The AI Eye- Watching stock news, deal tracker and advancements in artificial intelligence

Stocks discussed: (NYSE:IBM) (NYSE:HPE) (NasdaqGS:LOGM)

IBM (NYSE:IBM) has announced enhancements to its Cloud Pak for Data to get businesses ready for AI. This is being done through the leveraging of DataOps, which help to automate and streamline data flows across an enterprise. Rob Thomas, General Manager, IBM Data and AI, explained:

"The path to consistent success with AI projects begins with business-ready data and the methodology for delivering that is DataOps. The things we're announcing today, from infusing more automation, governance and collaboration capabilities into our products, to an expanded Data Science Elite practice, build on something we've been doing throughout the year: giving clients practical ways to speed this process in a uniform, thoughtful and consistent manner to speed their journey to AI."

Hewlett Packard Enterprise Company (NYSE:HPE) has announced a container-based software solution, HPE ML Ops, which aims to standardize machine learning workflows and accelerate AI deployments. Kumar Sreekanti, SVP and CTO, Hybrid IT at HPE, commented:

“Only operational machine learning models deliver business value. And with HPE ML Ops, we provide the only enterprise-class solution to operationalize the end-to-end machine learning lifecycle for on-premises and hybrid cloud deployments. We’re bringing DevOps speed and agility to machine learning, delivering faster time-to-value for AI in the enterprise.”

LogMeIn, Inc. (NasdaqGS:LOGM) is introducing new features to its AI-powered Bold360 workflow optimization suite, including aggregating information and advanced agent monitoring. Ryan Lester, Senior Director of Customer Engagement Technologies at LogMeIn, said:

“Changing customer expectations are shifting the dynamic of customer service teams across the board. In particular, a supervisor’s role is evolving from task master and policy enforcer to coach and strategic decision-maker. With these latest updates, Bold360 supports the demands of their evolving roles and ensures they spend less time navigating systems and more time guiding their agents to better serve customers.”

Global AI Systems Spending to Reach $97.9 Billion by 2023

A report from International Data Corporation (IDC) finds that global spending on artificial intelligence systems technology will grow to $97.9 billion USD by 2023, up from the $37.5 billion projected to be spent in 2019. This represents a compound annual growth rate (OTCPK:CAGR) of 28.4 percent in the forecast period 2018-2023. An excerpt from the report reads:

Spending on AI systems will be led by the retail and banking industries, each of which will invest more than $5 billion in 2019. Nearly half of the retail spending will go toward automated customer service agents and expert shopping advisors & product recommendation systems. The banking industry will focus its investments on automated threat intelligence and prevention systems and fraud analysis and investigation. Other industries that will make significant investments in AI systems throughout the forecast include discrete manufacturing, process manufacturing, healthcare, and professional services. The fastest spending growth will come from the media industry and federal/central governments with five-year CAGRs of 33.7% and 33.6% respectively.

Sam Mowers, Investorideas.com

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