ABI Research: AI investment is surging due to COVID-19

By William Girling
Share
New York-based tech consultancy ABI Research has stated in a press release that, whilst biometric investment struggles, AI has been gaining traction. T...

New York-based tech consultancy ABI Research has stated in a press release that, whilst biometric investment struggles, AI has been gaining traction.

The reason, the firm explains, is a logical one: government regulations seeking to limit contact and cross-contamination have made biometric equipment unappealing to the tech market, whilst the need AI-powered automation to maintain business continuity is growing.

Dimitrios Pavlakis, Digital Security Analyst at ABI, considers that the biometric sector’s loss could reach approximately US$2bn, which could have significant implications for the public sector.

“Fingerprint biometrics vendors are struggling to uphold the new stringent hygiene and infection control protocols. These regulations have been correctly introduced for the safety of users and personnel, but they have also affected sales in certain verticals,” he said.

Adapting to the new market

As more businesses adapt to the ‘new normal’, it may also behove the biometrics industry to follow suit. One reason for AI’s growing fortunes amongst the disruption, Pavlakis postulates, is its flexibility and diverse applicability.

“AI biometric firms are adapting to the biological threat. Biometric technologies are currently undergoing a forced evolution rather than an organic one, with artificial intelligence biometric firms spearheading the charge.

SEE ALSO:

“New IoT and smart city-focused applications will enable new data streams and analytics, monitoring infection rates in real-time, forcing new data-sharing initiatives, and even applying behavioural AI models to predict future outbreaks.”

Indeed, the role that AI plays in ushering the new normal into existence could be significant, as well as its continued influence in business and infrastructure. 

AI: the engine of the future economy? 

In a previous article, ABI outlined some of the core areas which could see increased deployment of AI. These included AI-based surveillance systems to monitor body temperature, such as those developed by Kogniz Health and autonomy in the freighting and logistics sector.

Business Chief recently explored new developments in the latter via Blue Yonder’s AI-powered Luminate Planning suite:

Answering questions that have long-preceded the COVID-19 pandemic but have now increased in importance, with Luminate Planning, Blue Yonder hopes to tackle global disruption, chain complexity, regional sourcing and more with AI and ML technology. The portfolio features:

  • A reimagined, customisable, collaborative and workflow-based user experience.

  • Constant real-time end-to-end data collection from suppliers, distributors, customers and many more. 

  • AI-powered predictive analytics and forecasting, including disruption prediction and automated problem-solving.

  • End-to-end visualisation of the entire supply chain, allowing short-term operations to be automated and for increased emphasis on mid to long-term strategic planning.

For more information on business topics in the United States, please take a look at the latest edition of Business Chief North America

Share

Featured Articles

How Should Corporations Approach Board Diversity?

Having a more diverse board is proven to enhance your organisation’s performance. But assembling a diverse board should be more than a box ticking exercise

These CEOs Increased Their Wealth by US$64bn in Just One Day

American share prices soared on Wednesday after Trump won the US election, putting billions into the pockets of the world’s biggest tech companies

Why Nissan CEO Makoto Uchida Is Halving His Salary

Nissan CEO takes 50% pay cut as car manufacturer unveils radical cost-cutting plan, including slashing 9,000 jobs worldwide

Who Will Take Over From Jamie Dimon as CEO of JPMorganChase?

Corporate Finance

Over Half of US CEOs Back Trump to Boost Global Economy

Leadership & Strategy

Why the Cloud is Murky for Microsoft CEO Satya Nadella

Technology & AI