Metas Billion-Dollar Investment Into AI Development Signals Impending Growth For The Sector
Yolowire 31-Jan-2024 10:36 AM
This Canadian Startup May Be The Best Choice To Secure High-Upside Exposure
%MetaPlatforms founder and CEO, Mark Zuckerberg, announced that the company is investing billions of dollars in the %ArtificialIntelligence (AI) chips of %Nvidia (NASDAQ:NVDA) called H100. According to Zuckerberg, Meta needs these chips to advance its research on artificial general intelligence (AGI), a form of AI that, if realized, could be comparable to human or animal intelligence. Zuckerberg said that his long-term vision is to build AGI, share it responsibly and make it widely available for everyone to benefit. He also said that AGI is connected to his concept of metaverse, a virtual space where people can interact with avatars, objects and digital services.
Metas announcement is one of the biggest pledges to double down on AI in the industry. The global AI market size was valued at USD 196.63 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 37.3% from 2023 to 2030. The market is driven by the increased adoption of AI in various industries, such as healthcare, retail, finance, manufacturing, and others. Additionally, the investments and initiatives by tech giants and governments in AI research and development are expected to give an additional boost to the markets growth.
Zuckerbergs announcement cements Meta ((META) as one of the leaders in the innovative AI sector but the big players are not the only ones aggressively pushing innovation to make their mark with this up and coming technology.
A notable standout in the finance sector is Alberta-based Impact Analytics - a company focusing on building an AI-powered risk assessment engine to govern and optimize organizational decision making.
Advancing Risk Assessment with AI: How Impact Analytics is Modernizing Credit Analysis
%ImpactAnalytics, a Canadian %Fintech firm (CSE: $PACT), is pioneering new artificial intelligence technologies to optimize risk evaluation and decision-making for financial institutions and businesses. Through its state-of-the-art solutions, Impact aims to progress traditional credit and risk models by integrating cutting-edge machine learning and telemetry capabilities.
At the core of PACTs offering is an AI-powered risk assessment engine that enables "Instant Risk Appraisal" through real-time analysis; "Elevated Credit Insight" by examining behavioral patterns in credit data; and "Actionable Insights" by identifying signals within financial datasets to uncover growth opportunities and inform organizational strategy. Through these AI capabilities, the company transforms how financial data is leveraged for strategic decision-making.
No Stone Unturned: How PACT Continues to Revolutionize Risk Assessment
Building on top of its robust flagship offerings, PACT recently announced that its developing two new fintech products: Credissential: an intelligent and secure platform for centralized global credit data management, and Lana Cash: a product designed as an adaptable software layer that can be integrated by enterprises and users to enhance traditional risk assessment systems with real-time analytics
%Credissential will allow users to securely store credit information and seamlessly share it to apply for loans, credit cards, and other financial products from their phones with participating institutions. By centralizing data and documents required for credit applications, Credissential aims to streamline the tedious manual processes traditionally required to gather materials like pay stubs and tax returns. The company believes this technology will disrupt current cumbersome methods of credit management and will roll out a minimum viable product in Q2 2024.
Impact CEO, Eric Entz, commented on the new products potential as part of an official press release:
"Credissential marks the first of our rollouts," he said. "By aligning modern data security and practices, Credissential can take a weeks-long process down to hours. We believe it has global applicability and will help Impact Analytics reimagine modern-day risk. We expect that our proprietary artificial intelligence product suite combined with Credissential will help users gather the data they need and lay a road map to achieve goals, be that a first car, first house, first credit card, line of credit, loan or a portfolio of rental properties."
As for %LanaCash, the software layer leverages key data points such as the identification of unique risk markers, know your customer (KYC) validation, anti-money laundering checks, banking data analytics, corporate compliance assessments, and more to generate more accurate and holistic risk profiles.
As PACT CEO Mr. Entz stated in the launch announcement, the company continues to build innovative products for the worldwide risk assessment industry with the release of Lana Cash. By consolidating telematics, customized input data, and historical transactions, Lana Cash seeks to furnish personalized risk ratings for individual and corporate clients derived from well-defined, quantitative elements.
Currently valued at a modest $26.6 million market capitalization, IA is positioned at the forefront of applying AI to elevate risk modeling strategies. For investors seeking specialized exposure to a leading-edge technological trailblazer within the flourishing AI sector, PACT merits careful consideration.
About Impact Analytics Inc.
Impact Analytics Inc. (CSE:PACT), an intelligent risk assessment platform company, operates as a financial services company focusing on building an AI-powered risk assessment engine to govern and optimize organizational decision making. Its risk assessment model is designed to reimagine traditional finance in a meaningful way. The company was formerly known as Axiom Capital Advisors Inc. and changed its name to Impact Analytics Inc. in October 2023. The company was incorporated in 2020 and is headquartered in Calgary, Canada.
Legal Disclaimer/Disclosure: This article is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this article should be construed as individualized investment advice. A licensed financial advisor should be consulted prior to making any investment decision. We make no guarantee, representation or warranty and accept no responsibility or liability as to its accuracy or completeness. Castle Rising assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this article and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Yolowire has been compensated eight hundred dollars by Castle Rising for distribution of this PACT press release. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this article. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment. Yolowire was not compensated by any public company mentioned herein to disseminate this press release.
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