The high data-driven nature of IoT (Internet of Things) systems calls for the need for technologies such as edge AI (Edge computing and Artificial Intelligence). Today, businesses realize the fact that edge AI is crucial not only because it is revolutionizing industries but also because it is our ultimate future. The technology gains much attention at present as it enables processing of data at the edge, i.e. directly on the device or on the server near the device instead of the cloud, thereby reducing latency in making critical decisions, increasing the speed of processing tasks and mitigating any delayed communication with the cloud. In addition, it reduces bandwidth requirement and cost by processing it on site. Edge AI also offers high data security as it operates in a closed network, making it difficult to steal information. These, along with many others, are important reasons for businesses to incorporate edge in their applications.
Edge AI finds applications in many areas. Current examples include Amazon’s Alexa or Apple’s Siri, smartphones with face recognition, mapping and cartography in drones, autonomous vehicles, smart speakers, drones and robots. Implementation of edge AI is also seen in various industries such as healthcare, manufacturing, transportation, retail, and more for upgrading their operations to ensure higher productivity, accuracy, efficiency, and safety. Here’s a look:
Edge AI in Healthcare –
Use of edge computing and AI in medicine helps promote patient care and operational efficiency. It also facilitates enhanced data security which is important for smart hospitals to carry out their tasks efficiently. Healthcare firms are able to perform medical tasks such as remote monitoring of patients, diagnostics, precise thermal screening, inventory management, and prediction of ailments.
Edge AI in Manufacturing –
The manufacturing industry implements edge AI to enhance and protect its processes and resources. It also seeks solutions that enhance productivity, quality, and reduce risks. For example, advanced machine vision or video analytics, an example of industrial edge AI, allows to gauge product quality with great precision. It is capable of detecting even the smallest quality deviations that almost go unnoticed with the human eye and predict machine failure to prevent bottlenecks. Thus, it helps avoid downtime and addresses problems that may lead to machine repairs and requirements.
Edge AI in Transportation –
With an aim to create smart cities where roads, vehicles and buildings communicate with one another, many technology companies adopt edge AI to provide smart cameras that assess traffic in real-time to identify obstructions in the road, reckless drivers and other situations.
Edge AI in Retail –
For long, many retail chains have been implementing customer analytics, which is based on an analysis of completed purchases, i.e. receipt data. Even if this technique helps in getting accurate results, the receipt data does not give information about how people move around the store, what they stop to watch, and the like. With the help of video analytics, retail companies can analyze anonymized data extracted from a video image and get informed about people’s purchasing behavior that can improve customer service and the overall shopping experience.
AI application at the edge is seeing a tremendous growth and companies that are investing and embracing this technology are also growing subsequently. This infers that the market for edge AI is growing by leaps and bounds and has a promising future. A report by Allied Market Research predicts that the edge AI processor market is projected to amass $9.6 billion by 2030, registering a CAGR of 16% during the forecast period 2022-2030. The prime factors propelling the market growth are nothing but the benefits offered by Edge AI and the rise in the adoption of electronic items globally.
In a nutshell, AI on the edge is sure to increase opportunities in the future. It is primed to enhance standards across various sectors, be those standards about safety, speed or accessibility.
Author Bio: Sharmistha Bose has always had a keen interest in reading and writing. An engineering graduate, she forayed into the field of writing due to her love for words and the urge to do something different. Allied Market Research has given her the chance to gain knowledge about different subjects as a Specialist Content Writer. She can be reached at email@example.com
Vechain and SingularityNet Combine Blockchain + AI To Drive Sustainability and Build Advanced Enterprise-Grade Tools
Vechain and SingularityNET, industry leaders in blockchain and artificial intelligence (AI) respectively, have announced their strategic collaboration. This partnering of technical giants unites powerful emerging technologies with the potential to radically change how the global economy operates, offering powerful enterprise-grade tools to tackle challenges in the field of sustainability and traditional businesses.
In particular, the alliance holds great promise for vechain’s ambitions with Boston Consulting Group, partners, collaborating on building ‘ecosystems’ wherein individuals and businesses are incentivised to act sustainably. SingularityNet’s AI capabilities offer immense potential to enhance and improve these ecosystems, utilising AI technology to pore over data, and improve their efficacy.
Vechain and SingularityNET intend to launch joint research initiatives to fortify the efficacy of each respective platform and ingrain the pair at the heart of future digital development. The combination of these technologies can equip businesses with intelligent tools, signalling the onset of a new phase in the era of digitisation.
Dr. Ben Goertzel, the visionary CEO of SingularityNET, expressed his excitement for the massive potential of this partnership:
“The last few years have taught the world that when the right AI algorithms meet the right data on sufficient processing power, magic can happen.
What’s even better is when the algorithms, data and processing are decentralized in deployment, ownership and control — which is exactly the sort of magic that’s going to happen putting the SingularityNET ecosystem’s AI algorithms together with vechain’s deep and diverse enterprise data, on the joint, secure distributed processing power of the two networks.
This combined power will be applicable to sustainability as one of our initial focus areas, but in the end extends across essentially all vertical markets. It’s hard to overestimate the potential here.”
Vechain’s CTO Antonio Senatore commented:
“We’re excited to be collaborating with leading Web3 AI platform, SingularityNET, combining our rich streams of enterprise data with SingularityNET’s powerful and versatile platform.”
“Blockchain and AI offer game-changing capabilities for industries and enterprises and are opening new avenues of operation. We look forward to working closely with the SingularityNET team to build out new services and continue to advance the fore of possibility in web3 and sustainability.”
Vechain and SingularityNET are enabling a new, more interconnected and automated world, driving new capabilities in the fields of industry and in particular, for action around sustainability.
Deepdub and OOONA Announce Strategic Partnership to Expand AI-Based Dubbing Solutions to Global Entertainment and Media Clients
Deepdub, the leading AI-based audiovisual dubbing and language localization company, today announced a partnership with OOONA, a major media localization software provider. This collaboration will bring Deepdub’s advanced dubbing solutions to OOONA’s extensive entertainment and media clients worldwide.
Through this partnership, OOONA will implement a process for connecting their clients to Deepdub’s services. This will enable media companies and content creators worldwide to instantly access Deepdub’s innovative dubbing solutions. Companies will be able to submit their content localization needs with ease via OOONA’s platform and receive tailored proposals from Deepdub that leverage the power of AI emotion-prompting technology. Going forward, clients stand to benefit from more efficient workflows and access to groundbreaking dubbing capabilities unlocking flexibility and scale.
“OOONA’s unmatched expertise in media localization, honed from providing pioneering management and production tools to the biggest names in the sector, makes them an ideal partner,” said Ofir Krakowski, CEO and co-founder of Deepdub. “This collaboration gives us the opportunity to introduce our advanced AI dubbing technology to new clients across the entertainment industry and beyond.”
OOONA is trusted by leading media localizers, broadcasters and a vast user base spanning over 170 countries. “We continue to stay true to our mission of being the core platform that integrates anything our clients need, including any opportunities AI-based solutions bring for localizing audiovisual assets,” said Wayne Garb, CEO and co-founder of OOONA. “We are thrilled to collaborate with Deepdub and further strengthen the services we provide to our customers globally.”
Deepdub aims to bridge the language barrier and cultural gap of entertainment experiences for international audiences across TV, Film, Advertising, Gaming and e-learning. We provide a high-quality localization service for entertainment content using deep learning and AI algorithms. Deepdub plugs into the post-production process of content owners and provides an end-to-end solution for all of their localization needs. Deepdub’s team consists of technology entrepreneurs, engineers, and scientists, as well as dubbing and post-production specialists with extensive industry experience. The advisory board features prominent media executives such as Kevin Reilly, who held the position of Chief Content Officer at HBO Max and president of TNT, TBS, and truTV, and Emiliano Calemzuk, the former President of Fox Television Studios.
For more information about Deepdub, visit https://deepdub.ai
OOONA.Net Ltd (www.ooona.net) is a globally recognized provider of professional management and production tools for the media localization industry. Renowned for its state-of-the-art software catering to subtitling, voiceover, dubbing and captioning needs, OOONA’s modular, pay-as-you-go pricing model empowers users to tailor solutions to their unique requirements. Trusted by leading media localizers, broadcasters and a vast user base spanning over 170 countries, OOONA continues to trailblaze advancements in the field of media localization.
RedCloud is using Generative AI to unlock the future of B2B Commerce in Emerging Markets
- Almost half of the growth in the FMCG industry over the next 3 years will take place in Emerging Markets outside of China
- AI-powered Open commerce will be the key to FMCG’s winning in these markets
- 90% + of B2B trade is still conducted offline, current ecommerce solutions will only go so far in bringing this trade online
- RedCloud’s intelligent open commerce platform, which currently has over 300,000 users, empowers FMCG brands to dynamically transform trading relationships with their distribution channels and millions of micro retailers
- With some of the largest product ranges in the world, the need for AI-powered search, order and trade is critical to cost, convenience and choice for the FMCGs in food, beverage, and essential consumer supplies.
Almost half of the growth in the FMCG industry over the next 3 years will take place in Emerging Markets outside of China. It’s a $1 trillion dollar opportunity for brands that can successfully navigate these markets. RedCloud Technologies, the company behind the world’s first open commerce platform, are bringing the latest in generative AI technology to help businesses further seize this sizable opportunity.
RedCloud has made a number of new AI expert hires and has formed several partnerships with cutting-edge AI companies. They now have number of updates to their intelligent open commerce platform in progress which include:
- Powering their search and order functionality with large language models to reduce friction
- Creating a new level of AI driven microtargeting for in-app campaigns and promotions
- Utilising machine learning to create highly advanced predictive analytics
- Augmenting their data processing operations with AI powered optimisation tools
For most businesses in the FMCG market, the ability to buy and sell efficiently is key. But in EMDEs – the areas that also have the greatest growth potential – barriers remain. RedCloud’s current platform has already created a fairer, more profitable trading system, bringing over 300,000 local merchants online for the first time, allowing them to trade instantly with their distributors and FMCGs. Their latest updates will go one step further, by fusing their search functionality with LLM’s, they will reduce the time spent ordering by over 80%. This frees up time local retailers could be using to trade in the digital economy.
It’s not just local retailers who will benefit though from the upcoming updates to the RedCloud platform. FMCG brands and distributors are also set to reap the benefits of RedCloud’s commitment to generative AI. Price volatility means businesses are often hard-pressed to keep up with the macroeconomic changes affecting their markets. RedCloud is therefore undertaking several updates to its existing dynamic pricing tools.
Their real-time data insights powered by machine learning creates automated pricing recommendations that could increase a company’s revenue by around 15%. They are also developing AI into their insights tool to allow for the creation of highly accurate predictive analytics. This will enable companies to further improve their forecasting with confidence, remaining ahead of macroeconomic curves and market trends.
RedCloud is also using generative AI to help companies reduce their advertising costs. FMCG brands can spend anything between 5%-15% of their operating budget on advertising, however on traditional channels, 90% goes unseen and conversion rates are continuing to reduce. RedCloud is supercharging its search and promotions tool with machine learning to further improve its targeting capabilities, allowing for micro-segmentation of audiences and campaigns. This will allow companies to create more efficient and effective digital advertising campaigns, allocating spend only where it’s truly valuable.
Justin Floyd, founder and CEO of RedCloud, comments: ‘The future of B2B commerce is open and conversational. This overcomes the lack of trust in traditional and big tech e-commerce platforms, enabling users to place orders in a familiar way and build sustainable relationships with sellers – regardless of whether there’s a human on the other end or not. ‘
RedCloud’s AI lead Daniel Chada, adds: ‘Generative AI, which includes technologies like Generative Adversarial Networks (GANs) and language models like ChatGPT, can play a significant role in addressing the challenges of digitising B2B commerce. Managing user experience, data integration, security, privacy, and regulatory compliance, it provides a simple yet sophisticated solution to the most pressing problems faced in the FMCG space. And one that can be easily adopted in emerging markets.’
RedCloud is a global technology company, headquartered in London committed to bringing commerce everywhere, especially in emerging markets, by digitally connecting FMCG brands, distributors, and merchants, enabling them to search smarter, sell better, and trade simpler.
With its proprietary Open Commerce platform, RedCloud is poised to drive economic growth in the FMCG industry by providing new levels of visibility and facilitating strategic decision-making based on real-time data analysis syndicated across the distribution chain.
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