VRTU - The AI Eye: Apple Acquires ML Startup Inductiv and Virtusa Announces Digital Transformation Studio
Point Roberts, WA and Vancouver, BC - May 29, 2020 (Investorideas.com Newswire) 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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The AI Eye: Apple (NasdaqGS: ) Acquires ML Startup Inductiv and Virtusa (NasdaqGS: ) Announces Digital Transformation Studio
Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence
Stocks discussed: (NasdaqGS:AAPL) (NasdaqGS:VRTU)
Apple Inc. (NasdaqGS:AAPL) has acquired Inductiv Inc., a machine learning startup, making for "more than a dozen AI-related acquisitions" in the past few years, according to a report from Bloomberg. The report posits that Inductiv was acquired "to work on Siri, machine learning and data science." An excerpt reads:
Inductiv developed technology that uses artificial intelligence to automate the task of identifying and correcting errors in data. Having clean data is important for machine learning, a popular and powerful type of AI that helps software improve with less human intervention.
Virtusa Corporation (NasdaqGS:VRTU) has announced Digital Transformation Studio (DTS), described in the press release as "a proprietary platform and approach designed to increase the delivery speed and dramatically reduce the costs of business critical digital transformation projects." Among its components is something called Reusable Industry Assets, "that strives for a near-zero approach to coding," and includes "AI Model Zoo and Data Lake with over thirty pre-trained AI/ML models trained on synthetic datasets." Kris Canekeratne, chairman and CEO, Virtusa, explained:
"Given today's challenges, enterprises need to maximize every dollar invested in digital transformation initiatives. DTS was built from the ground up to increase the speed and success rate of these business critical projects dramatically. With gamified dashboards to promote transparency and improve performance, reuse of industry assets to save time and money, and pre-trained and certified teams with experience in key industries, we can predict digital transformation successes very early in engagements with clients."
Global AI in Cybersecurity Market to Reach $30.5 Billion by 2025
A report from Vynz Research finds that the global AI in Cybersecurity market will grow from $12 billion in 2020 to $30.5 billion by 2025 with a compound annual growth rate (CAGR) of 20.5 percent in the forecast period. An excerpt from the report description outlines key drivers influencing the market's growth:
The stringent data privacy regulations, increasing adoption of digital solutions, increasing number of cyber-attacks, and increasing inclination towards cloud-based solutions from on-premise are the key factors leading to the growth in the AI in cyber security market, globally. Cyber-attack[s] [are] one of the biggest threats to the modern world.
According to the World Economic Forum (WEF), the top five most likely events to happen in 2018 across the globe, from most to least likely are: extreme weather events, natural disasters, cyber-attacks, data fraud or theft and failure of climate-change mitigation and adaptation. The fact itself depicts the utmost need for security from cyber-attacks and data fraud. Therefore, with the increasing vulnerability of data bases to cyber-attacks result in the growth of AI in cyber security market.
Sam Mowers, Investorideas.com
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