Point Roberts, WA and Vancouver, BC – May 24, 2021 (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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AI Eye Episode 560: Stocks discussed: (NYSE: $YEXT) (NasdaqGS: $KRBP)
Today’s Column – The AI Eye – Watching stock news, deal tracker and advancements in artificial intelligence
Stocks discussed: (NYSE:YEXT) (NasdaqGS:KRBP)
AI search company Yext, Inc. (NYSE:YEXT) has announced the launch of Support Answers, “a suite of enterprise search solutions built for customer support teams.” This will employ modern, AI-powered solutions to provide answers to “a business’s FAQs, product manuals, help articles, and more.” Marc Ferrentino, Chief Strategy Officer at Yext, said:
“Customers have consistently expressed their aversion to contacting customer support, but for the longest time, businesses have not had the technology powerful enough for them to resolve their issues independently. Today, that changes with the launch of Support Answers, which leverages our platform’s multiple search algorithms to interpret people’s intent and deliver contextually relevant, direct answers in a way that meets consumers’ needs and expectations, and saves a business time and money.”
Kiromic BioPharma, Inc. (NasdaqGS:KRBP) has submitted a novel Investigational New Drug (IND) to the U.S. Food and Drug Administration (FDA) for a Phase 1 clinical trial, derived from the company’s proprietary artificial intelligence neural network platform (Diamond AI), that “has the potential to be a universal CAR T-Cell therapy for any solid malignancy that expresses the biomarker Iso-mesothelin, with higher efficacy, higher safety, as well as lower manufacturing and distribution costs.” Maurizio Chiriva-Internati, CEO of Kiromic, explained:
Kiromic is in a unique position because its bioinformatic engine combines CancerDiff, a data-mining tool for the identification of tumor-preferred isoforms, with Diamond, an AI-driven immunogenic peptide identification system.
This combination allows Kiromic to identify targetable sections of a tumor isoform (peptides) that are a unique signature of cancer cells.
The advantage of Kiromic’s system is two-fold: 1) it saves time and money because it allows the prioritization of tumor-selective targets, and 2) it maximizes the likelihood of identifying targets that are safe by increasing the targeting specificity.
Business Use of AI Valued at $1.8T by 2027
A report published by Research and Markets analyzing the global Artificial General Intelligence market, finds that “the productivity gain potential for business use of AI represents approximately $1.8T in economic value by 2027.” A further excerpt from the report’s description indicates that this:
“…will be nine times more with the use of general-purpose AI solutions market as compared to today’s silo AI approach. Productivity gains will be achieved by transactions conducted by AI autonomous agents or “bots”. It is estimated that more than 8% of the global economic activity in 2027 will be done autonomously by some kind of AI solution whereas this amounts to less than one percent today. This represents a dramatic rise in the use of AI for enterprise, industrial, and government automation.”
The report also projects variously that the embedded AI in building infrastructure and equipment will reach $18.1 globally by 2026, the general-purpose AI market will reach $4.25B globally by 2026 for enterprise apps and solutions, the global market for general-purpose AI support of big data and prescriptive analytics will reach $1.35B, and that over 35% of enterprise value will be directly or indirectly attributable to general-purpose AI solutions by 2027.
Sam Mowers, Investorideas.com
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