Artificial intelligence (AI) in Banking Market to Witness Robust Growth by 2027 at a CAGR of 42.9%

  • “The global artificial intelligence (AI) in Banking market is expected to reach a market size of USD 130.00 Billion by 2027 and register a high revenue CAGR, according to latest analysis by Emergen Research
  • Due to increasing implementation of AI-driven applications in the banks, including customer relationship management (CRM), data analytics & visualization, and chatbot to enhance customer experience and back-office activities, the software segment is projected to register a significant revenue CAGR of 43.1% during the forecast period.”

Chipotle is moving its tortilla robot to a real restaurant

  • “Chipotle’s tortilla-making robot will soon help out in a restaurant you can visit. The chain has unveiled a slew of technology updates that include moving the Miso Robotics-made Chippy robot to a real restaurant. The machine will start cooking tortilla chips in a Fountain Valley, California location in October.
  • Chipotle is piloting a demand-based cooking system that uses AI to tell staff what and when to cook based on forecasts for how much they’ll need. In theory, this lightens the load for employees while making sure there’s enough freshly-cooked tacos and burritos when you show up for dinner.”

7 AI startups aim to give retailers a happy holiday season

“Santa Clara, California-based AiFi offers a frictionless and cashierless retail AI-powered solution deployed in diverse locations such as sports stadiums, music festivals, grocery store chains and college campuses. Steve Gu cofounded AiFi in 2016 with his wife, Ying Zheng, and raised a fresh $65 million in March. Both Gu and Zheng have Ph.D.s in computer vision and spent time at Apple and Google.”

‘The democratization of AI has never been stronger,’ Louder Co. CEO says — here’s what that means for smaller businesses

  • “Andrew Louder is CEO of Louder Co., an AI in operations consulting firm that works with companies under a hundred million to help use AI to help them become more profitable.
  • AI used to be hard to attain, expensive oftentimes just for the bigger companies with the bigger budgets. We’re at a point in time now where the democratization of AI has never been stronger. In other words, it’s a lot more attainable for just about anybody who wants to get their hands on AI, to either build something of their own or buy something off the shelf to make a quick lasting I’m pact on their company, and so in the size company we target under a hundred million dollars.”

Report: 78% of tech professionals link data analysis to revenue growth

  • “Among those surveyed, 78% believe that their organization’s ability to analyze data is closely linked to its bottom line. There are untold opportunities to leverage the information being generated every day, and the companies that take advantage of those opportunities will quickly gain the advantage.
  • Fully 59% of survey respondents are actively looking to replace their data warehouses, which they see as outdated, limited in capabilities, and inflexible.
  • 65% of survey respondents said they were concerned or very concerned about their ability to hire enough talent to meet their needs.”

Click to read the full report from Ocient.