AI Revolution Accelerates: North American Tech Companies Lead Amid Regulatory Changes

USA News Group Commentary

Issued on behalf of Scope AI Corp.

VANCOUVER, BC, June 25, 2024 /PRNewswire/ -- USA News Group – Tech companies are advancing the artificial intelligence (AI) revolution at breakneck speed. However, new regulations are potentially in the works, as Reuters is already reporting that the USA is moving closer to curbing investments in China's AI and tech sectors. A draft has already been published, governing investments into China's emerging tech sector amidst political tensions. While the future of any kind of potential global alliance in AI development doesn't look likely at this time, several developers in North America are making significant developments in AI that could move the needle in the economy of the West, including from Scope AI Corp. (CSE:SCPE) (OTCQB:SCPCF), Symbotic Inc. (NASDAQ:SYM), Evolv Technologies Holdings, Inc. (NASDAQ:EVLV), MicroStrategy Incorporated (NASDAQ:MSTR), and UiPath Inc. (NYSE:PATH).

As deep machine learning continues to evolve, Scope AI Corp. (CSE:SCPE) (OTCQB:SCPCF) has rebranded and redirected its market focus towards sectors like advertising, gaming, and neural networks, leveraging its advanced GEM (General Enterprise Machine Learning) technology.

Scope AI continues to advance its GEM platform to help businesses develop custom object detection and visual information systems, leveraging the full potential of neural networks. These strategic initiatives have the potential to transform advertising personalization, gaming enhancements, and various neural network applications.

Recently, Scope AI introduced major updates to GEM, aimed at better serving advertising agencies and the gaming sector. These improvements focus on optimizing advertising content and enhancing gameplay experiences with advanced neural network capabilities. By the end of May, Scope AI had partnered with several leading ad agencies and ad networks to understand the primary challenges in analyzing ad creative effectiveness, page layouts, and the associated testing costs and difficulties.

"Our approach is to start with the pain points of our potential users and build solutions based on those insights," said James Young, CEO of Scope AI Corp. "We believe in understanding the real-world challenges faced by our partners, rather than falling into the common software trap of 'build it and they will come.' This collaboration ensures that GEM is not just another tool, but a solution that addresses the specific needs of the advertising community."

Scope AI's timing in assisting the advertising industry is impeccable, as global advertising executives grapple with the influx of AI technology. The concern is that widespread use of AI-generated images may result in a lack of distinctiveness. This is where Scope AI's GEM technology shines, aiding ad executives in distinguishing and delivering their campaigns more effectively.

GEM's advanced object visual recognition capabilities aim to provide businesses with deeper insights and more precise solutions. As a result, advertisers could potentially analyze consumer behavior more effectively and refine their campaigns, while game developers might create more engaging and immersive user experiences.

"We're very pleased at how seamless we were able to streamline, enhance, and strengthen our platform with the latest performance and security upgrades made to our infrastructure," said Sean Prescott, Founder and Non-Executive Chairman of Scope AI. "The next generation of our platform will set us apart in what kind of data and its sensitivity we can process and store. It's a potential game-changer for the industry."

Primarily focused on automating warehouses, Symbotic Inc. (NASDAQ:SYM) is rapidly advancing its technology for use in other industries. Potential applications include automated building and road construction. Symbotic is doing this by enhancing AI, computer vision, and IoT functionality through autonomous robots working collaboratively. This technology is expected to naturally progress into virtual or mixed reality, allowing users to control the system and individual robots as if they were the brain.

"This past quarter we executed well for our customers, made significant progress on our innovation roadmap and delivered solid financial results," said Rick Cohen, Chairman and CEO of Symbotic in its FY 2024 results. "We made significant advances in both software and hardware this quarter that will benefit customers, accelerate deployment times and increase our deployment capacity."

Symbotic operates in two segments: products and deployment, and services. In Q2, Symbotic achieved several key developments that improved deployment times, including a software upgrade for better throughput and capacity, an upgrade to enhance modularization, and a new AI chip for increased power.

"These advancements helped us to accelerate deployment progress during the quarter," said Symbotic CFO Carol Hibbard. "We started three system deployments and completed three operational systems, while achieving faster revenue growth, higher margins and stronger cash generation than planned for the quarter."

Evolv AI, a leader in digital experience optimization, and a wholly-owned subsidiary of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV), recently announced a new free-of-charge AI-led UX site assessment feature to boost online conversions in eCommerce. Delivered as an emailed report that gives insight into where site owners' digital experiences are underperforming, the new feature provides prioritized, contextual UX recommendations to help businesses advance.

"Our free UX site assessment feature is a game-changer for businesses looking to optimize their digital experiences but have limited resources for UX experimentation," said Tyler Foster, President and CTO at Evolv AI. "Our recommendation engine distills generalized learnings from millions of experiments and extensive UX research to deliver custom, contextual recommendations to our end users. Our AI also predicts which UX improvements will yield the highest returns, so you can focus resources strategically."

Back in March, MicroStrategy Incorporated (NASDAQ:MSTR) unveiled a new customizable AI bot called Auto that lets business users interact with MicroStrategy's data analytics offerings through natural language. The new Auto software was based upon the MicroStrategy AI product suite that was launched last year, using generative AI technology to lower the technical skills required by users to consume data using MicroStrategy data analytics.

"Our modern cloud architecture, proven semantic graph, and robust APIs gave us the agility to lead the market with a solution that combines the latest generative AI with trusted BI," said Saurabh Abhyankar, Chief Product Officer at MicroStrategy. "And now, with Auto added to MicroStrategy AI, we're enabling customers to build and deploy custom AI bots in minutes. But this is just the beginning. We have dozens of new features underway for MicroStrategy AI that will help every organization capitalize on our vision for Intelligence Everywhere."

MicroStrategy would follow up the launch of Auto, by unveiling enhancements to the platform at the end of April.

Working to further help enterprises interpret and utilize their data, leading enterprise automation and AI software company UiPath Inc. (NYSE:PATH) was recently recognized as a Leader in the Everest Group Process Mining Products PEAK Matrix Assessment 2024, marking the fifth consecutive year of UiPath receiving the honor.

"[UiPath's] strong year-over-year growth in its process mining business, enhanced interoperability with its automation suite, and investments in product innovation and generative AI capabilities such as Autopilot have helped UiPath strengthen its position as a Leader and emerge as a Star Performer on Everest Group's Process Mining Products PEAK Matrix® 2024," said Amardeep Modi, Vice President at Everest Group. "Its product vision and roadmap, product's ease of use, ability to visualize process maps and detect bottlenecks, and customer support are some of the key strengths highlighted by its clients."

Serving to further enhance its portfolio, UiPath has also been linked to a $35.2 million investment in Paris-based AI startup Holistic, with plans to develop a "commercial relationship" with the company, according to a document filed at the start of May with the US Securities and Exchange Commission (SEC). The investment was part of a $200 million funding round for Holistic AI, as reported by Reuters.

Article Source: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/ 

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