The world of artificial intelligence is rapidly evolving, with various sectors embracing AI to improve efficiency, accuracy, and decision-making. In this news brief, we'll explore the latest developments in AI, from retail returns to flood risk management, and examine the impact of AI on various industries.
AI-Powered Selfies and Robots Tackle European Retail's Returns Crisis
AI-powered selfies and robots are being used to tackle the returns crisis in European retail. Returned packages can cost retailers between $21 and $46 to deal with, and AI-powered solutions aim to reduce these costs. For instance, AI-powered robots can take selfies of products to verify their condition, reducing the need for physical returns.
EY Invests $1.4 Billion in AI to Enhance Workforce and Client Services
Global consulting firm EY has invested $1.4 billion in AI to enhance its workforce and client services. The investment aims to upskill EY's 400,000-strong global workforce for the AI era. EY has developed the EY.ai Maturity Model to help businesses assess their AI capabilities and identify areas for improvement.
Aramco Venture Arm Invests in AI Start-Up Ori
Saudi conglomerate Aramco's venture arm has invested in UK-based AI cloud company Ori. The investment aims to establish a regional subsidiary in Riyadh and advance AI technology in the country. Ori supplies AI infrastructure to large organizations and has deployed Nvidia's H200 chips.
AI4Flood Project Deploys Artificial Intelligence to Anticipate and Mitigate Flood Risks
The AI4Flood project uses artificial intelligence to enhance flood risk prediction and management. The project addresses the urgent need for more effective forecasting and preventive measures to protect lives and infrastructure. AI4Flood uses advanced artificial intelligence to analyze environmental data and improve early warning systems.
Castle Rock Taps AI to Plug Underground Water Leaks
Castle Rock Water is embarking on a six-month pilot program to use AI-driven technology to detect leaks in its municipal water system. The program aims to reduce the millions of gallons of water that leak annually from the system. AI-driven technology can detect specific sounds produced by flowing water, indicating a crack or split in the pipes.
Wedbush Is Betting Big on Palantir Stock for an ‘AI Revolution’ in 2025
Investment bank Wedbush has named Palantir as a top pick for the AI revolution in 2025. Wedbush expects Palantir's AI platform to gain traction among commercial customers in the U.S. over the next 18 months. Palantir's customer base expanded significantly, growing 43% year-over-year to 711 customers.
BigBear.ai Stock’s Technical Indicators Signal a “Buy”
BigBear.ai is a Buy according to both the technical analysis score and Wall Street analysts' consensus ratings. The company has secured several key contracts, boosting its reputation and financial standing. BigBear.ai's efforts to expand its market presence by providing industry-specific AI solutions bode well for long-term growth.
Penn State Taps IBM to Develop AI Virtual Assistant to Foster Success for Student Body
IBM has announced its collaboration with Penn State to build and deploy MyResource, a student concierge built with watsonx, IBM's portfolio of AI products. The generative AI-powered assistant aims to streamline details about campus resources and how to seek them when it launches, expected in the fall semester.
Insta360 Launches Their Latest AI Tracker Designed to Track Even More
Insta360 has introduced the latest AI tracker as an additional attachment to meet the demand for a seamless and intelligent tracking feature as mobile content creation continues to evolve. The Insta360 Flow 2 Pro AI Tracker is designed to bring advanced AI-powered subject tracking to a wide range of mobile devices and applications.
Key Takeaways
- AI-powered solutions are being used to tackle various challenges, from retail returns to flood risk management.
- EY's $1.4 billion investment in AI aims to upskill its workforce and enhance client services.
- Aramco's venture arm has invested in UK-based AI cloud company Ori to advance AI technology in Saudi Arabia.
- AI4Flood project uses artificial intelligence to enhance flood risk prediction and management.
- Castle Rock is using AI-driven technology to detect leaks in its municipal water system.
- Wedbush is betting big on Palantir stock for an ‘AI revolution’ in 2025.
- BigBear.ai stock's technical indicators signal a “Buy” according to both technical analysis and Wall Street analysts' consensus ratings.
- Penn State is collaborating with IBM to develop an AI virtual assistant to foster success for its student body.
- Insta360 has launched its latest AI tracker designed to track even more, enhancing mobile content creation capabilities.
Sources
- AI-powered selfies and robots are taking on European retail’s returns crisis
- Going ‘All In’ on AI: Inside EY’s $1.4 billion investment in the future of work
- Aramco venture arm invests in AI start-up
- Inforegio - Cohesion Policy project deploys artificial intelligence to anticipate and mitigate flood risks
- Castle Rock taps AI to plug underground water leaks — and prevent the loss of millions of gallons
- Conflicting Signals: Tempus AI's Stock Market Rally
- Wedbush Is Betting Big on Palantir Stock for an ‘AI Revolution’ in 2025. Should You Buy It Now?
- BigBear.ai Stock’s (BBAI) Technical Indicators Signal a “Buy”
- Penn State Taps IBM to Develop AI Virtual Assistant to Foster Success for Student Body
- Insta360 Launches Their Latest AI Tracker Designed to Track Even More