An Israeli biotechnology innovation lab set up last year and backed by some of the world's leading pharmaceutical companies like Pfizer and Merck has formed a new startup that will harness artificial intelligence (AI) to assess drug efficacy in pre-clinical trials and improve chances for success in later stages. The startup, OMEC.AI, is the first company established with funding and support from AION Labs, a Rehovot-based organization launched last October with a mission to create and invest in early-stage startups focused on AI and computational biology in drug discovery and development. AION Labs is a collaboration between pharmaceutical giants Pfizer, AstraZeneca, Merck, and Teva Pharmaceuticals, together with Amazon's AWS and the Israel Biotech Fund, and is headed by Mati Gill, a former senior executive at Teva, and Dr. Yair Benita, the former head of computational biology at Compugen, science operations at CytoReason, and principal scientist at MSD (Merck). AION Labs ran three bootcamps over the past year to field scientist founders and inventors focused on addressing key industry challenges identified by the global pharma companies such as designing antibodies for targeted therapeutics and analyzing data using AI to assess and predict the clinical readiness of drug candidates. The latter challenge produced OMEC.AI, founded this summer with $2 million (NIS 7 million) in seed funding by AI experts Ori Shachar and Amir Harel, both of whom previously led AI teams at Mobileye, Intel's Jerusalem-based autonomous driving subsidiary.

Thank you for joining us on "The cloud hub: From cloud chaos to clarity." Sunil Senan, senior vice president, and data and analytics service offering head at Infosys, and Chris Degnan, CRO at Snowflake, sit down with Lisa Martin and Dave Vellante at the Snowflake Summit 2022 to discuss how Infosys and Snowflake are helping clients accelerate their cloud journey with data and AI.

According to Statista, as of 2021 data, the United States held over 36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today's society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.

The global artificial intelligence (ai) in retail market is expected to rise with an impressive CAGR and generate the highest revenue by 2026. Fortune Business Insights in its latest report published this information. The report is titled "Artificial Intelligence (AI) in Retail Market Size, Share & Industry Analysis, By Offering (Solutions, Services), By Function (Operations-Focused, Customer-Facing), By Technology (Computer Vision, Machine Learning, Natural Language Processing, and Others), and Regional Forecast, 2019-2026". It also offers an exclusive insight into various details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies. The report provides a 360-degree overview of the market, listing various factors restricting, propelling, and obstructing the market in the forecast duration.