Press Releases

Research and Markets – Cognitive Systems & Artificial Intelligence in BFSI Market to Grow at a CAGR of 45.9% by 2022 – Key Players are IBM, Synechron, Micro Strategy, Infosys, Next IT Corp & Rocket Fuel

DUBLIN, June 26, 2017 /PRNewswire/ —

Research and Markets has announced the addition of the “Cognitive Systems & Artificial Intelligence in BFSI Market – Forecasts to 2022” report to their offering.

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The Artificial Intelligence &Cognitive Systems and Artificial in BFSI will witness a CAGR of 45.9% during the forecast period 2016-2022.

The increasing usage of cloud-based solutions in the BFSI industry, rising demand for the data-driven solutions, increasing internet banking penetration, and scope of deriving market risk are fostering the market growth. The market is segmented into technologies, deployment types, verticals and regions.

Globally, BFSI is the second most customer data-centric industry, where players have a bundle of new business opportunities from Cognitive Systems and Artificial Intelligence (AI). It is an evolving data driven technology that works on on-premises and cloud-based software. The system replaces the human thought process with a simulated digital model that includes a self-learning system, which derives patterns by using data mining, speech recognition, and language processing techniques. The cognitive systems require AI platform to derive the complicated business issues.

Globally, the growing demand for digital technology and changing customer demands have led the BFSI players to adopt cognitive systems and AI implementation in their operations to deal with ever-changing regulatory & compliance laws to face the market risk and understand both income tax & corporate tax laws in an efficient way. It is also showing a strong presence in analyzing consumer behavior patterns to bring new offerings and is finding new distribution channels for the financial institutions.

Companies Mentioned

  • IBM Corp.
  • Infosys Limited
  • MicroStrategy Incorporated
  • Next IT Corp
  • Rocket Fuel
  • Synechron

Key Topics Covered:

1 Industry Outlook

2 Report Outline

3 Market Snapshot

4 Market Outlook

5 Market Characteristics

6 Deployment Type: Market Size & Analysis

7 Technologies: Market Size & Analysis

8 Verticals: Market Size & Analysis

9 Regions: Market Size & Analysis

10 Vendor Profiles

11 Companies to Watch for

For more information about this report visit https://www.researchandmarkets.com/research/5nkrdm/cognitive_systems

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

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SOURCE Research and Markets

A New Way of Banking Launched in Israel: PEPPER by Leumi Goes Live

TEL AVIV, Israel, June 26, 2017 /PRNewswire/ —

Pepper enables customers to manage their bank account via mobile only with no current account fees and with a personalised, unique and innovative user experience

The Leumi Group (TASE: LUMI) today announced the official launch of “Pepper“, a first of its kind digital platform in Israel – and among the first in the world – to allow customers to manage all of their banking activities entirely via mobile and with no current account fees: from on-boarding to performing common banking transactions, including ordering credit cards and cheques, transferring money, taking out loans, managing savings deposits, and more.

Pepper represents a revolution in how Millennials think about and manage their money in a digital world. It is based on a unique artificial intelligence technology that helps customers better manage their finances and make the most of their money. This cutting-edge technology allows Pepper to get to know its users, customise relevant content, and offer a personalised banking experience that differs from person to person – one that is completely different from the traditional banking language we have come to know.

Pepper’s user experience is similar to that of social media feeds, comprising of customised content which includes: Personal consumer tips and insights, real-time updates on expenses, summary and analysis of expenses on a daily/weekly/monthly basis, comparisons with peers, instant alerts upon duplicate charges, relevant news articles, live updates, and much more – all in a simple, young and friendly interface.

Pepper offers live customer service by professional bankers available around the clock (24/7) via video chat, online messaging, or by phone.

Pepper’s online on-boarding process takes only eight minutes and can be done from anywhere and at any time convenient to the customer. Following this brief process, customers will receive an update on their current account and credit facilities directly to their mobile phone. Once registered, customers can order a credit card and cheque books, free of charge.

Pepper, which is currently available to domestic customers in Israel, joins the free mobile payment app “Pepper Pay” which was released to app stores several months ago. Pepper Pay allows customers of all Israeli banks to transfer money to any beneficiary from their mobile phone contact list, in a quick and friendly manner – with no commissions.

Towards the end of 2017, Leumi will also launch the “Pepper Invest” mobile app, which will enable trading in securities.

About Leumi Group  

Bank Leumi, established in 1902, is one of the leading and largest corporations in Israel, providing comprehensive banking services and commanding an approximate 30% domestic market share. The Leumi Group operates branches throughout Israel, in addition to branches and offices located in key financial centers across the globe, including London, New York, Palo Alto and Shanghai.

In 2016, Leumi reported a net profit of NIS 2.8 billion ($728 million) and a net return on equity reaching 9.3%. As of December 31, 2016, total assets under management of the Group reached NIS 1,259 billion ($327 billion) while total assets amounted to NIS 438.6 billion ($114 billion).

Leumi is leading the way for innovation in Israeli Banking. Today, ‘Leumi Digital’ spearheads the digital banking field in Israel, with a wide range of innovative online banking services based on cutting-edge technologies. Leumi was the first financial organization in Israel, and one of few in the world, to implement cloud computing technology, in addition to establishing a designated Digital Banking Division and appointing a Chief Digital Officer (CDO). Leumi is the first Israeli bank to launch a standalone fully-mobile banking platform – ‘Pepper’. 

SOURCE The Leumi Group

wefox Announces Milestone in the Digital Insurance Marketplace With Integration of ONE Into wefox Platform

BERLIN and COPENHAGEN, Denmark, June 26, 2017 /PRNewswire/ —

  • ONE will be a fully licensed risk carrier and will be integrated into the wefox platform as an innovation partner from September 2017
  • ONE will operate as a transparent digital insurer, making its full range of innovations available to wefox innovation partners
  • ONE will set new standards in real-time data access, revolutionizing the customer experience.

At Money2020, an international FinTech event in Copenhagen, InsurTech company wefox is today announcing that it will be integrating a digital insurance carrier into its wefox platform. ONE, which will begin offering insurance to customers in Germany in September 2017, will be an entirely digital, mobile, real-time operation. ONE will be integrated into the wefox platform as an innovation partner. Initially, its products will comprise home contents and liability cover, but the portfolio will expand, going forward, to cover all aspects of life. By integrating ONE into the wefox platform, wefox underscores its path-breaking role in the InsurTech marketplace.  

Since wefox began operating 18 months ago, the InsurTech company’s platform has become firmly established as a marketplace for insurance solutions across Germany, Austria and Switzerland, offering insurance companies access to the high-growth broker sales channel. The service platform is open to all insurers. To date, wefox has succeeded in gaining more than 300 insurance companies, 600 brokers, and over 125,000 end-customers. In addition to a number of innovation partners in Austria and Switzerland, the companies ERGO, Barmenia and VHV in Germany have also come on-board with the aim of co-initiating product and process innovations for brokers and insurance customers through integration on the wefox platform. Agreements with other renowned partners are due to be signed shortly. 

Integrating ONE

Wefox is to integrate ONE into the wefox platform in order to keep pace with the digital revolution. ONE’s goal is to continuously improve the user experience for customers and brokers. Once integrated, the risk carrier ONE, operating transparently as a digital insurer, will be accessible to all the insurance companies in the marketplace. ONE will share its innovations and experience in full with its current and future wefox innovation partners in regular innovation labs.

Reinsured by Munich Re

Munich Re, which will provide ONE’s reinsurance cover, has been supporting product development and data analytics since January 2017 as well. Munich Re is convinced by ONE’s future-focused business model and the strategic and operational strengths of the parties involved. 

Digital, mobile, real-time

ONE is setting the direction when it comes to data access. All its procedures – in the front and back office – are fully digital. The process of applying for insurance is both extremely simple and supported by artificial intelligence. Customers can pick and purchase insurance, complete with easy payment, within three minutes. The company is redefining the customer experience in claims management, too: Claims can be filed through ONE’s mobile app. The aim is to process around 60 percent of all claims fully automatically and in real time. Because data is handled in real time, customers can check their current insurance status instantly. In addition, ONE will reward claim-free customers through a points system that returns part of their premium. 

Managerial changes

With ONE’s market entry and the involvement of the wefox Group, there are managerial changes at wefox. Julian Teicke, who until now has served as wefox’s CEO, is to become the wefox Group’s CEO and will concentrate fully on strategic management. Stephan Ommerborn, formerly an executive at Zurich Insurance Group for many years, is CEO at ONE. Ommerborn has been building up ONE since 2016 and has played a key role in driving the development of the transparent digital insurance carrier. Says Stephan Ommerborn: “By integrating ONE into the wefox platform, we are cutting through structural dependencies to enhance insurers’ service levels. ONE is playing a path-breaking role when it comes to availability, ease of understanding and speed.”

About wefox

Initially formed under the FinanceFox brand in Switzerland in November 2014, wefox is an InsurTech company that unites insurance-sector expertise and extensive experience with advanced digital capabilities. Its wefox service platform enables customers, brokers and insurance companies to manage insurance and financial products and business processes smartly and efficiently. The wefox platform combines advanced technology with classic insurance-industry consulting. Since it began operating in Switzerland in 2015, in Germany in October 2015 and in Austria in March 2017, wefox has acquired more than 125,000 policyholders in record time. The company, which has more than 100 employees, works with numerous local insurance brokers in a continuously widening network, and is preparing to expand its activities into other countries.

About ONE

ONE is a transparent digital insurer started up by Stephan Ommerborn and Samir El-Alami in 2016. Munich Re is ONE’s official reinsurance partner. ONE is scheduled to begin operating in Germany in September 2017.

Further information: http://www.wefox.de / http://www.one-insurance.eu

Press Inquiries: 

FinanceFox Services GmbH
Victoria Krasnov
Tel. +49(0)30-220662365      
victoria.krasnov@wefox.com  

Fink & Fuchs AG
Tanja Walter-Dunne
Tel. +49(0)611-74131-45
tanja.walter.dunne@finkfuchs.de
wefox@finkfuchs.de

SOURCE wefox

Organizations Struggle to Close Widening Skills Gaps, CompTIA Survey Reveals

DOWNERS GROVE, Ill., June 26, 2017 /PRNewswire-USNewswire/ — Organizations acknowledge that they have widening skills gaps within their workforces, but many are struggling to find solutions to narrow the gaps, according to a report from CompTIA, the world’s leading technology association.

CompTIA is the voice of the world's information technology industry. (PRNewsFoto/CompTIA)

Nearly half (46 percent) of the 600 executives surveyed for the report “Assessing the IT Skills Gap” believe skills shortcomings within their organizations have grown over the past two years.

Skills gaps are not confined to technology alone, the surveyed revealed. Executives also reported skills issues in areas such as marketing, sales and business development, operations, customer service, and accounting and finance.

“The ‘skills gap’ is often a catch-all phrase for other workplace challenges, such as a labor supply gap or generational differences in work styles,” said Charles Eaton, CompTIA’s executive vice president for social innovation and CEO of Creating IT Futures. “But whatever the cause there is clearly a wide chasm between the skills employers want and their perception of the skills their workers have.”

The consequences of workforce skills gaps can affect many areas – lower staff productivity, lower sales and profitability, delays in bringing new products and services to market, and losing ground to competitors.

Yet just one in three organizations said they have a formal process and resources in place to address their skills gap challenges. The remaining companies reported having only an informal proves or no process at all.

“More than half of organizations acknowledge they struggle in identifying and assessing skills gaps among their workforce,” said Amy Carrado, senior director, research and market intelligence, CompTIA. “Knowing what to fix must precede discussions of how to fix it, and to fix it soon. The breadth and pace of innovation point to a widening skills gap, putting further pressure on organizations.”

The speed of innovation is one of the biggest challenges companies face in keeping their employees skills up to date, a challenge that show no sign of abating.

“Organizations testing the waters with the Internet of Things, artificial intelligence, robotics, and other emerging technologies face even greater skills gaps due to the fast-moving nature of these innovations,” Carrado noted. “It takes time for training materials to reach the market and for opportunities to gain hands-on experience to arise.”

When asked about strategies for addressing skills gap challenges within the workforce pipeline, companies emphasized the need for better approaches for candidates to gain work experience and on-the-job training. The top five strategies cited include:

  1. Better ways to provide on-the-job experience, such as internships.
  2. Better ways to provide intense job training, such as apprenticeships.
  3. Early student exposure to careers in IT.
  4. Certifications and credentials to validate skills and knowledge.
  5. Better assessments and methods for evaluating the skills of job candidates.

“Assessing the IT Skills Gap” is based on data collected through an online survey of 600 business and technology executives. The survey was conducted in February 2017.

Visit CompTIA Insight & Tools to download a free copy of the full report.

Contact:
Steven Ostrowski
CompTIA
630-678-8468
sostrowski@comptia.org

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/organizations-struggle-to-close-widening-skills-gaps-comptia-survey-reveals-300479531.html

SOURCE CompTIA

Euler Hermes Digital Agency Announces CRiskCo Partnership

BALTIMORE, June 26, 2017 /PRNewswire/ — Euler Hermes, the world’s leading trade credit insurer, today announced an innovative partnership with fintech credit risk analysis company, CRiskCo. With a focus on revolutionizing factoring, trade and supply chain finance, CRiskCo uses state-of-the art artificial intelligence (AI) credit analysis and fraud detection processes.

Christophe Spoerry, Euler Hermes Digital Agency (EHDA) co-founder, said, ” EHDA and CRiskCo are working together to evolve trade credit insurance and risk management, particularly at the transaction and single invoice cover levels. This has the potential to offer small-medium enterprises (SMEs) significantly more protection when doing business, by providing innovative, simple and affordable customer analyses.”

EHDA recently launched its first breakthrough product – Single Invoice Cover – which protects companies from non-payment by business customers. Cover is provided transaction by transaction while optimizing end-to-end supply chains and extending optimal credit terms to buyers. Based on a proprietary application program interface (API), it creates a seamless process for businesses, while facilitating a comprehensive and granular management of credit exposure.

CRiskCo uses its strength in harvesting and analyzing data to develop smart algorithms that can evolve the underwriting capabilities within the Single Invoice Cover product. Based on invoice-level data, CRiskCo reviews accounting data and applies prediction analytics and machine learning algorithms to provide businesses a credit score that assesses the probability of business success or default. The company helps vendors and financial institutions reduce underwriting time and costs using big data processing and cloud infrastructures. It monitors abnormal behavior of clients and clients’ debtors to predict fraud, and alert partners to limit their exposure.

Euler Hermes is the global leader in trade credit insurance, as well as a recognized specialist in the areas of bonding, guarantees and collections. With more than 100 years’ expertise, the company offers B2B clients financial services to support trade receivables management. Its proprietary intelligence network tracks and analyzes daily changes in corporate solvency among small, medium and multinational companies active in markets representing 92% of global GDP.

Euler Hermes Digital Agency focuses on technological disruption. Leveraging Euler Hermes’ global leadership and experience, it acts as a platform where innovators and entrepreneurs can take the driving seat. The EHDA mission is to incubate breakthrough ideas in trade finance to better serve customers, cultivate a digital culture and quickly create new disruptive fintech products. Digital Agency teams use data mining, machine learning and advanced algorithms to create and test client solutions for better risk and marketing decisions. EHDA and their partners focus on highly scalable credit risk technologies and services by fast tracking ideas into experiments and new products, many designed to serve start-ups in the alternative finance and fintech markets.

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/euler-hermes-digital-agency-announces-criskco-partnership-300479562.html

SOURCE Euler Hermes

GradeCam Continues To Revolutionize Grading

SAN ANTONIO, June 26, 2017 /PRNewswire/ — GradeCam has long been an innovation leader in creating, scoring, and recording assessments, but two exciting new capabilities that launched at this year’s International Society for Technology in Education (ISTE) conference proved GradeCam continues to stay ahead of the curve.

GradeCam empowers teachers to easily customize, instantly score, and automatically record assessments – their way.

While there was a great deal of anticipation around GradeCam’s big announcement, the new features debuted certainly warranted excitement. GradeCam introduced two new question types to their current array: Handwritten Numeric and Rubric With Capture. But don’t let the ordinary sounding labels fool you. They’re both extraordinary advancements.

Powered by a new smart technology called Aita – GradeCam’s proprietary Artificial Intelligence Teaching Assistant – Handwritten Numeric questions enable students to bypass the bubble grid and simply write out their numeric answers. Whether it’s the solution to a mathematical equation, the year of a historical event, or an atomic number from the periodic table, Aita can literally read and accurately score the response on the teacher’s behalf.

The Rubric With Capture question type also extends beyond the traditional bubble-filling formula to allow space for students to write out short answers up to ten lines long. Aita can then digitally capture and incorporate an image of the handwriting onto the answer sheet so the teacher can view it and assign points right from their mobile device. This flexibility allows for scoring based on custom criteria like accuracy, creativity, degree of completion, grammar/spelling, work shown, etc.

“Our focus has always been on creating innovative and accessible solutions for the real challenges teachers face,” says GradeCam CEO Rob Porter, “and our new features represent both an exciting evolution in that process and a sign of things to come.”

GradeCam’s current users can automatically access the new Rubric With Capture question type via their GradeCam Go! Plus license and both Handwritten Numeric and Rubric With Capture question types as part of their School/District GradeCam Go! license. Of course, 60-day free trials and pilots are available for potential new users, as well.

As always, GradeCam requires no special equipment or forms and can simply be scanned with any smartphone, tablet, computer, or document camera. Teachers and administrators interested in GradeCam’s extraordinary education solutions can learn more by visiting www.GradeCam.com or by reaching out to sales@gradecam.com.

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/gradecam-continues-to-revolutionize-grading-300479187.html

SOURCE GradeCam

Galvanize and IBM Announce First Online Cognitive Builder Course

DENVER, June 26, 2017 /PRNewswire/ — Galvanize and IBM today announced the launch of the first online Cognitive Builder Course, a program with a uniquely engaging format that includes real-time online support, training videos and hands-on activities designed to prepare developers to build cognitive applications with the intelligence of IBM Watson.

Galvanize is a 21st Century school for entrepreneurs, engineers, and data scientists.  On eight campuses across the U.S., the energy, intellect and ambition of Galvanize students, members and alumni are at the heart of a learning community that promotes belonging, and that celebrates courage and growth. (PRNewsfoto/Galvanize)

“The cognitive computing revolution is ushering in demand for a new era of developer,” said Galvanize CEO, Jim Deters. “As more companies invest in artificial intelligence and machine learning technology, a new set of capabilities and APIs will need to be mastered. Our first co-created course with IBM aims to up-skill existing engineers to build AI applications with IBM Watson.”

Developed by expert data scientists from Galvanize and cognitive developers from IBM, the Cognitive Builder Course is available online to any developer interested in utilizing the power of IBM Watson machine learning and artificial intelligence. Students will be able to join a community of other Cognitive Builders and engage in real-time conversations with their fellow students.

“There has never been a more exciting time to be a developer,” said Willie Tejada, IBM Chief Developer Advocate. “This partnership is about putting new AI and cognitive tools, technology and hands-on training into the hands of developers, giving them the resources they need to create innovative applications and solutions.”

The course has been built for developers who seek to grow their Python programming skills, while also satisfying their curiosity about how to leverage the power of Watson in building applications. The ideal students for this program recognize an application for these skills in their current job functions. They also possess a desire to quickly drive positive business outcomes by streamlining workflows and operational processes through the application of cognitive technology.

Students will learn to:

  • Develop familiarity with cognitive technologies, their functions and use cases
  • Design intelligent products that use artificial intelligence to solve new business problems
  • Acquire the skills needed to prototype, integrate and deploy cognitive technologies

The Cognitive Builder Course covers four weeks at seven hours per week, for a total of approximately 28 hours of training.  Students will also participate in hands-on projects that simulate an on-the-job environment. Find out more and sign up today.

For more information on IBM, visit: http://www.ibm.com/developer

About Galvanize
Galvanize is a 21st Century school for engineers, entrepreneurs and data scientists.  On eight campuses across the U.S., the energy, intellect and ambition of Galvanize students, members and alumni are at the heart of a learning community that promotes belonging, and that celebrates courage and growth. Our faculty and flexible blended-learning platform, combining part-time online education and in-person training, provide the most relevant and in-demand technology skills to anyone with the smarts, drive and grit to re-skill, up-skill and define success on their terms. Our members include first-time entrepreneurs, growing startups, and Fortune 1000 companies all looking to level-up. Become a member or enroll in an immersive course by visiting the Galvanize website.  Follow us: Facebook, Instagram, Twitter and YouTube.

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/galvanize-and-ibm-announce-first-online-cognitive-builder-course-300479511.html

SOURCE Galvanize

Synopsys Embedded Vision Processor IP Quadruples Neural Network Performance for Machine Learning Applications

MOUNTAIN VIEW, Calif., June 26, 2017 /PRNewswire/ —

Highlights:

  • DesignWare EV6x Vision Processors integrate up to four 512-bit vector DSPs and a CNN engine, providing scalable performance for a wide range of current and emerging embedded vision applications
  • The EV6x processors, with dedicated and programmable CNN engine, supports all CNN graphs
  • MetaWare EV Development Toolkit, a suite of tools supporting OpenCL C, OpenVX and OpenCV, simplifies application software development
  • New CNN mapping tool in the MetaWare EV Development Toolkit automatically dispatches processing tasks to available hardware resources for faster execution

Synopsys, Inc. (Nasdaq: SNPS) today announced that it has enhanced the convolutional neural network (CNN) engine in its DesignWare® EV6x Vision Processors to address the increasing video resolution and frame rate requirements of high-performance embedded vision applications. The CNN engine delivers up to 4.5 TeraMACs per second when implemented in 16-nanometer (nm) FinFET process technologies under typical conditions, four times more performance than Synopsys’ previous CNN engine. It also supports both coefficient and feature map compression/decompression to reduce data bandwidth requirements and decrease power consumption. The vision CPU scales from one to four vector DSPs and operates in parallel to the CNN engine, delivering maximum throughput for a broad range of high-performance embedded vision applications such as advanced driver assistance systems (ADAS), video surveillance, augmented and virtual reality, and simultaneous localization and mapping (SLAM).

To view the multimedia news release, please go to: https://www.synopsys.com/company/newsroom/mnr/ev6x-cnn-3-processors-news-release.html

“The technological demands at the heart of embedded vision applications, in the neural network, require solutions that deliver the combination of high precision and performance with low power and area use,” said Toshi Torihara, vice president at Morpho US, Inc. “The unique combination of the vector DSPs and programmable CNN engine in the DesignWare EV6x Vision Processor enables developers to implement vision functionality in their embedded devices with much higher performance efficiency than CPU- and GPU-based alternatives.”

The DesignWare EV6x Processor family integrates scalar, vector DSP and CNN processing units for highly accurate and fast vision processing. The EV6x supports any convolutional neural network, including popular networks such as AlexNet, VGG16, GoogLeNet, Yolo, Faster R-CNN, SqueezeNet and ResNet. Designers can run CNN graphs originally trained for 32-bit floating point hardware on the EV6x’s 12-bit CNN engine, significantly reducing the power and area of their designs while maintaining the same levels of detection accuracy. The engine delivers power efficiency of up to 2,000 GMACs/sec/W when implemented in 16-nm FinFET process technologies (worst-case conditions). The EV6x’s CNN hardware also supports neural networks trained for 8-bit precision to take advantage of the lower memory bandwidth and power requirements of these graph types.

To simplify software application development, the EV6x processors are supported by a comprehensive suite of tools and software. The latest release of the DesignWare ARC® MetaWare EV Development Toolkit includes a CNN mapping tool that analyzes neural networks trained using popular frameworks like Caffe and Tensorflow, and automatically generates the executable for the programmable CNN engine. For maximum flexibility and future-proofing, the tool can also distribute computations between the vision CPU and CNN resources to support new and emerging neural network algorithms as well as customer-specific CNN layers. Combined with software development tools based on OpenVX™, OpenCV and OpenCL C embedded vision standards, the MetaWare EV Development Toolkit offers a full suite of tools needed to accelerate embedded software development.

“As high-performance neural networks become more prevalent in artificial intelligence applications, designers require both the hardware technology and software tools to deliver their vision-enabled SoCs on schedule,” said John Koeter, vice president of marketing for IP at Synopsys. “With the performance and feature enhancements to the silicon-proven EV6x Vision Processors, designers can more efficiently design and deploy machine learning-based applications with the performance and power efficiency necessary to differentiate in their markets.”

Availability & Resources

The DesignWare EV61, EV62 and EV64 processors with enhanced optional CNN engine are scheduled to be available in August 2017. The MetaWare EV Development Toolkit is available now. Support for the TensorFlow framework in the Toolkit’s CNN mapping tool is scheduled to be available in October 2017.

Learn more about Synopsys’ Embedded Vision Processors: DesignWare EV6x Processor Family

About DesignWare IP

Synopsys is a leading provider of high-quality, silicon-proven IP solutions for SoC designs. The broad DesignWare IP portfolio includes logic libraries, embedded memories, embedded test, analog IP, wired and wireless interface IP, security IP, embedded processors and subsystems. To accelerate prototyping, software development and integration of IP into SoCs, Synopsys’ IP Accelerated initiative offers IP prototyping kits, IP software development kits and IP subsystems. Synopsys’ extensive investment in IP quality, comprehensive technical support and robust IP development methodology enables designers to reduce integration risk and accelerate time-to-market. For more information on DesignWare IP, visit www.synopsys.com/designware.

About Synopsys

Synopsys, Inc. (Nasdaq: SNPS) is the Silicon to Software partner for innovative companies developing the electronic products and software applications we rely on every day. As the world’s 15th largest software company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP and is also growing its leadership in software security and quality solutions. Whether you’re a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing applications that require the highest security and quality, Synopsys has the solutions needed to deliver innovative, high-quality, secure products. Learn more at www.synopsys.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, including statements regarding the expected release and benefits of the DesignWare EV61, EV62 and EV64 processors with enhanced optional CNN engine and the TensorFlow framework in the CNN mapping tool. Any statements that are not statements of historical fact may be deemed to be forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that could cause actual results, time frames or achievements to differ materially from those expressed or implied in the forward-looking statements. Other risks and uncertainties that may apply are set forth in the “Risk Factors” section of Synopsys’ most recently filed Quarterly Report on Form 10-Q. Synopsys undertakes no obligation to update publicly any forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Editorial Contact: 
Monica Marmie
Synopsys, Inc. 
650-584-2890  
monical@synopsys.com   

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/synopsys-embedded-vision-processor-ip-quadruples-neural-network-performance-for-machine-learning-applications-300479207.html

SOURCE Synopsys, Inc.

BioInteractive Technologies’ innovative VR wrist bands, TENZR™ are being tested at NASA

SAN JOSE, Calif., June 26, 2017 /PRNewswire/ — BioInteractive Technologies Inc. is proud to announce that two of their flagship TENZR™ wristbands are being tested at the Virtual Reality Laboratory (VRLab) Astronaut Training Facility at NASA Johnson Space Center in Texas, USA. TENZR™ is a unique wearable wristband that uses custom sensors embedded in the strap to detect hand gestures. NASA is evaluating their use as hands-free and camera-free controllers in their VR training setting.

“We are very excited that our TENZR™ prototypes at NASA’s VRLab could change the way astronauts interact with the virtual space environment! Great strides are being made in the fields of Human Computer Interaction, and Natural Control. We believe that our natural, hands-free gesture recognition technology will take the field forward and will complement existing technologies like voice recognition and camera-based systems,” said CEO, Lukas-Karim Merhi.

Weighing only 45 grams, BIT’s lightweight wearable TENZR™ wristband is a game-changer in user experience, as it frees the users’ hands from bulky button-based controllers and requires minimal training. UNITY3D compatibility makes it a plug and play solution for any VR platform.

BioInteractive Technologies is the leading company in embedded-sensor wrist-straps for the wearable market. It is currently developing custom solutions for home automation and healthcare based on the same core technology.  HABIT4™ for home automation, allows users to control home appliances (garage door, lights, thermostat, etc.), and  GRASP™, aimed at aiding stroke-survivor rehabilitation.

About BioInteractive Technologies – Based in Vancouver, Canada, with a presence in Silicon Valley, BioInteractive Technologies is developing an Artificial Intelligence (AI) powered gesture recognition software engine to detect users’ hand and arm movement in real-time. They are currently accepting pre-orders for their TENZR™ Development Kit.

www.biointeractivetech.com

Press Release Contact Information:
Jose Fernandez Villasenor
BioInteractive Technologies
San Jose, California
USA
Voice: 408-836-7383
Email: info@biointeractivetech.com

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/biointeractive-technologies-innovative-vr-wrist-bands-tenzr-are-being-tested-at-nasa-300479307.html

SOURCE BioInteractive Technologies Inc.

Boeing HorizonX Invests in Artificial Intelligence Leader SparkCognition

CHICAGO, June 26, 2017 /PRNewswire/ — Boeing [NYSE: BA] announced it is investing in SparkCognition, an Austin, Texas-based company focused on artificial intelligence and machine learning in the fields of information technology security and industrial operations. It is the latest investment by the Boeing HorizonX venture arm established earlier this year.

SparkCognition has established itself as a machine learning technology leader, developing a cognitive, data-driven analytics platform for the safety, security and reliability of data technology for customers in energy, oil and gas, manufacturing, finance, aerospace, defense, telecommunications and security.

“SparkCognition is at the forefront of a technological shift in machine learning and artificial intelligence that will revolutionize every aspect of industry. They are leaders in AI, and they are pursuing the types of technologies that are critical to our future products and services,” said Greg Hyslop, Boeing chief technology officer and senior vice president, Engineering, Test & Technology.

Boeing is joining a group of strategic investors led by Verizon Ventures as SparkCognition closes its initial $32 million funding round.

“Having industry stalwarts, Verizon and Boeing, support our existing investors in funding this new round of growth serves as tremendous validation of our technology and track record. There is massive demand for our category-leading AI solutions,” said Amir Husain, founder and CEO of SparkCognition. “The world is well on its way to an AI-powered revolution — where cognitive systems will truly augment human capabilities, but at machine speed and big data scale. Our real world deployments and on-the-ground successes speak to the broad applicability of SparkCognition’s AI technology, and the tremendous promise of AI in general.”

As one aspect of Boeing’s plan for investing in future growth, Boeing HorizonX is leveraging its venture fund making targeted investments in early stage businesses and startups. Outside of venture investments, HorizonX is seeking unique business opportunities and non-traditional partnerships for the company’s aerospace technology using disruptive innovations and business strategies. Other recent companies in which Boeing HorizonX has invested include Upskill, a provider of enterprise software for augmented reality wearables for manufacturing, field service and logistics, and Zunum Aero, which is pursuing the development of alternative propulsion aircraft.

SparkCognition is a global leader in cognitive computing analytics, developing AI-powered asset-protection software for the safety, security, and reliability of information technology. The company’s technology is capable of harnessing real-time sensor data and learning from it continuously, allowing for more accurate risk mitigation and prevention policies to intervene and protect data systems. In less than three years since launching its first solution, SparkCognition has acquired dozens of major clients, including multiple Fortune 100 and Fortune 1,000 organizations. It was also listed in the 2017 version of CNBC’s Disruptor 50 list, an annual compilation of 50 companies that the financial cable news network believes are meeting untapped markets and have tremendous business potential.

Contact: 

Chaz Bickers
Boeing Communications
312-544-2002

Jim Schlueter
Boeing Communications
206-356-2990

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SOURCE Boeing