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AI Eye Podcast 652: Stocks discussed: (NasdaqGS: $BIDU) (NYSE: $PATH)

Baidu's Electric Vehicle Arm Closes Series A Financing, and UiPath Works with Deloitte in Smart Factory for Industry 4.0

 

Vancouver, Kelowna, Delta, BC - January 26, 2022 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a global investor news source covering Artificial Intelligence (AI) brings you today's edition of The AI Eye - watching stock news, deal tracker and advancements in artificial intelligence.

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AI Eye Podcast 652: Stocks discussed: (NasdaqGS: $BIDU) (NYSE: $PATH)

January 26, 2020

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Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence

JIDU, the intelligent electric vehicle arm of Baidu, Inc. (NasdaqGS:BIDU), has closed Series A financing, raising close to $400 million. This enables JIDU to continue accelerating the progress of its R&D and achieve mass production, including that of its Robocar set to be launched in 2023. Yiping Xia, CEO of JIDU, said:

"It has only been 10 months since JIDU started its journey. With the support of cutting-edge AI technology combined with a high-quality vehicle platform and manufacturing process, JIDU's efficient development of automotive robots has been proven - the brain, nerve system, and body of the Robocar are all under rapid development. When the product is delivered (in 2023), it will be a benchmark-level product."

Robotic Process Automation software firm UiPath Inc. (NYSE:PATH) has become a Builder sponsor of The Smart Factory @ Wichita, described as "a new Industry 4.0 immersive experience center by Deloitte," where it "will showcase the role of RPA in the future of smart factories while engaging a broad spectrum of companies in sophisticated manufacturing innovations and the technologies behind them." Sebastian Seutter, Global Manufacturing Lead at UiPath, explained:

"There are endless possibilities to evolve the way in which solutions and products are developed within smart factories to make an impact on the world. When automation, artificial intelligence, and the IoT are seamlessly connected, smart factories can dramatically reduce throughput time and increase factory output, while enabling reduced lot sizes, ensuring sustainable operations, and lower operating costs. UiPath is a partner-first company, and to date we've done more than 400 joint engagements with Deloitte with large organizations. We are embarking as a team on this initiative to illustrate to companies around the world how humans working alongside robotic software assistants will rapidly introduce new capacity for value and innovation."

Edge AI Market in Japan to Reach $40.81B by 2030

A report published by Allied Market Research finds that the Edge AI market in Japan is projected to grow from $7.79 billion in 2020 to $40.81 billion by 2030, registering a compound annual growth rate (CAGR) of 20 percent from 2021-30. An excerpt from the report overview outlines the impact of the COVID-19 pandemic on the market's growth:

The emergence of COVID-19 has immensely affected the growth rate of edge AI technology across Japan in 2020. A high positive impact has been witnessed in the healthcare sector in Japan, as prime enterprises have started to realize the potential of edge AI software in opposing the influence of COVID 19. However, due to several obstacles created by the COVID-19 pandemic, such as a lack of skilled professionals, project delays or cancellations, and raw material accessibility, the COVID-19 pandemic significantly impacted the growth of Japan Edge AI strategy across the productivity and mobility sectors. In contrast, the rise in demand for intelligence applications across the healthcare, manufacturing, and automotive areas in Japan is projected to drive the Japan edge AI market growth post-pandemic.

Sam Mowers, Investorideas.com

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