LONDON--(BUSINESS WIRE)--The global artificial intelligence (AI) market in manufacturing industry is expected to post a CAGR of around 31% during the period 2019-2023, according to the latest market research report by Technavio. Manufacturing companies are moving toward the implementation of Industry 4.0 standard to intensify automation to achieve higher operational efficiencies. This is increasing the adoption of a greater number of connected devices and technologies such as big data, ML, and IoT, which is resulting in the generation of high volumes of data. This, in turn, is compelling manufacturing firms to adopt AI-based solutions to extract insights from the data to improve the management of operations. Hence, the integration of industrial IoT and big data is crucial in driving the growth of the market.

Soft Robotics Inc., a pioneer in robotic grasping, announced today that it has raised $23 million in an oversubscribed Series B funding round. The round was co-led by Calibrate Ventures and Material Impact and included existing investors Honeywell, Hyperplane, Scale, Tekfen Ventures, and Yamaha. FANUC Corp., the world's largest industrial robot manufacturer, joined this round as a new investor in Soft Robotics. Soft Robotics previously announced a strategic partnership with FANUC to integrate Soft Robotics' mGrip adaptable gripper system with any FANUC robot through the deployment of a new controller. The combined product was introduced at IREX in Tokyo in December 2019.

Artificial intelligence (AI) within the consumer, enterprise, government, and defense sectors is migrating from a conceptual "nice to have" to an essential technology driving improvements in quality, efficiency, and speed. According to a new report from Tractica, the top industry sectors where AI is likely to bring major transformation remain those in which there is a clear business case for incorporating AI, rather than pie-in-the-sky use cases that may not generate return on investment for many years. "The global AI market is entering a new phase in 2020 where the narrative is shifting from asking whether AI is viable to declaring that AI is now a requirement for most enterprises that are trying to compete on a global level," says principal analyst Keith Kirkpatrick. According to the market intelligence company, AI is likely to thrive in consumer (Internet services), automotive, financial services, telecommunications, and retail industries. Not surprisingly, the consumer sector has demonstrated its ability to capture AI, thanks to the combination of three key factors – large data sets, high-performance hardware and state of the art algorithms.

Video surveillance systems are evolving and are using artificial intelligence (AI) to inspect and analyse video footage, interpret patterns and flag unusual activity. Lenovo DCG and Pivot3 provide a state-of-the-art upgraded infrastructure solutions that aim to enhance current technology required to support these systems rather than entrusting the preservation of crucial data to outdated NVR technology. Commenting on the partnership, Dr. Chris Cooper, General Manager for Lenovo DCG, Middle East, Turkey and Africa, said, "We are delighted to showcase our partnership with Pivot3 at one the world's leading technology trade shows. The Middle East is exhibiting tremendous growth in terms of adopting smart solutions. The UAE in particular is investing heavily in implementing the latest innovations in their technological infrastructure; therefore, we see great potential from our partnership with Pivot3 as we work together to supply the appetite for next generation computing products and services."

Videantis, which provides automotive deep learning, computer vision and video coding solutions, has announced that it will partner with the Fraunhofer Institute for Integrated Circuits IIS, Infineon and other leading companies and universities to develop an artificial intelligence (AI) ASIC and software development tools specifically for intelligent autonomous vehicles. The Videantis AI multi-core processor platform and tool flow has been selected for the KI-Flex autonomous driving chip project. Autonomous driving relies on fast and reliable processing and merging of data from several lidar, camera and radar sensors in the vehicle. This data can provide an accurate picture of the traffic conditions and environment to allow the vehicle to make intelligent decisions when driving. The process of intelligently analysing these volumes of sensor data requires high-performance, efficient, and versatile compute solutions.

Warner Bros has signed a deal with an artificial intelligence company to help it with movie releases. The studio has confirmed it will be using a'revolutionary new AI-driven project management system', launched last year by Cynelytic, a Los Angeles-based AI and cloud tech company. The platform provides forecasting and financial modelling information, predicting box office revenues of potential movie projects. It also has the potential to assist in working out the value of certain stars, and also in scheduling when a movie should be released. According to Business Wire, 'the platform reduces executives' time spent on low-value, repetitive tasks and instead focuses on generating actionable insights for packaging, green-lighting, marketing and distribution decisions in real time'.

Find here a listing of the latest industry news in genomics, genetics, precision medicine, and beyond. Updates are provided on a monthly basis. Sign-Up for our newsletter and never miss out on the latest news and updates. As 2019 came to an end, Veritas Genetics struggled to get funding due to concerns it had previously taken money from China. It was forced to cease US operations and is in talks with potential buyers. The GenomeAsia 100K Project announced its pilot phase with hopes to tackle the underrepresentation of non-Europeans in human genetic studies and enable genetic discoveries across Asia. Veritas Genetics, the start-up that can sequence a human genome for less than $600, ceases US operations and is in talks with potential buyers Veritas Genetics ceases US operations but will continue Veritas Europe and Latin America. It had trouble raising funding due to previous China investments and is looking to be acquired. Illumina loses DNA sequencing patents The European Patent ...

New York, January 07, 2020: Based on Deployment, the global Enterprise Artificial Intelligence market is segmented in Cloud and On-Premises. The report also bifurcates the global Enterprise Artificial Intelligence market based on Solution in Business Intelligence, Customer Management, Sales & Marketing, Finance & Operations, Digital Commerce, and Others. The global Enterprise Artificial Intelligence market is segregated on the basis of Deployment as Cloud and On-Premises. Based on Service the global Enterprise Artificial Intelligence market is segmented in Professional Service and Managed Service. Based on End User the global Enterprise Artificial Intelligence market is segmented in Automotive, Media and Entertainment, Healthcare, Retail, IT & Telecommunication, BFSI, and Aerospace.

LAS VEGAS -- Ambarella, Inc. (Nasdaq: AMBA), an artificial intelligence (AI) vision silicon company, today announced that Ambarella and Amazon Web Services, Inc. (AWS) customers can now use Amazon SageMaker Neo to train machine learning (ML) models once and run them on any device equipped with an Ambarella CVflow -powered AI vision system on chip (SoC). Until now, developers had to manually optimize ML models for devices based on Ambarella AI vision SoCs. This step could add considerable delays and errors to the application development process. Ambarella and AWS collaborated to simplify the process by integrating the Ambarella toolchain with the Amazon SageMaker Neo cloud service. Now, developers can simply bring their trained models to Amazon SageMaker Neo and automatically optimize the model for Ambarella CVflow-powered SoCs.

Nintendo Co. fans will soon be able to enjoy a life-sized video-game experience at a new attraction at Universal Studios Japan. Super Nintendo World is slated to open this summer in Osaka, featuring a Power Up Band wearable that lets visitors collect coins and battle bosses while exploring a physical environment. Users will track their progress via a smartphone app, according to the theme park operator, which is owned by NBCUniversal LLC. "Super Nintendo World will provide an experience you cannot have anywhere else," USJ Chief Executive Officer J.L. Bonnier said at a briefing in Osaka on Tuesday. He wouldn't divulge further details about rides or other digital offerings, or when they would be available.