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Modular Robotics Markets, 2030 – Opportunities in the Use of Artificial Intelligence (AI) to Improve Productivity – PRNewswire

DUBLIN, Nov. 30, 2020 /PRNewswire/ -- The "Modular Robotics Market Research Report: By Offering, Robot Type, Payload Capacity, End User - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The revenue of the market will rise from $5.6 billion to $15.1 billion from 2019 to 2030, with the market demonstrating a CAGR of 9.9% from 2020 to 2030.

The rising requirement for automation in manufacturing and warehouse operations is pushing up the global demand for collaborative modular robotics systems. This is, in turn, boosting the sales of modular robotics systems all over the world, which is causing the surge of the global modular robotics market.

A key market driver is the rising usage of collaborative modular robotics systems or cobots as they are sometimes called, in the logistics industry. With the adoption of these robots, the operators can hand over the parts to the robots for performing the rest of the tasks, which results in faster production processes, lesser expenditure, and lesser floor space requirements. These robots are also being used for load carrying and transporting tasks, because of their versatility.

Another factor fueling the progress of the market is the rising requirement for automation in manufacturing processes. The increasing requirements for faster manufacturing times, high efficiency in production processes, and higher manufacturing outputs are augmenting the need for automation in industries. As a result, modular robotics systems are being increasingly used in various operations in factories and warehouses. When offering is taken into consideration, the modular robotics market is classified into software, hardware, and services.

Out of these categories, the software category is predicted to exhibit the fastest growth in the market in the future years, mainly due to the burgeoning requirement for software for checking the real-time functioning of a modular robotics system and the growing integration of IoT and AI in these robots. However, despite this factor, the highest market growth will be demonstrated by the hardware category, under the offering segment, in the upcoming years.

According to the forecast of the market research company this category will hold the highest revenue share in the market in the future. Depending on robot type, the market is divided into SCARA (selective compliance assistance robot arm) modular robotics systems, collaborative modular robots, cartesian modular robots, parallel modular robots, and articulated modular robotics systems, out of which, the articulated modular robotics system division will register the highest growth in the market in the forthcoming years.

Historically, the modular robotics market exhibited the highest growth in the Asia-Pacific (APAC) region and this trend will continue in the coming years as well, primarily because of the ballooning investments being made in electricals, electronics, and automotive industries, especially in the regional nations such as China, South Korea, and India. In addition to this, the rising usage of collaborative modular robotics systems in manufacturing operations is massively propelling the sales of these robots in the region.

Hence, it can be inferred from the above paragraphs that the sales of modular robotics systems will rise steeply throughout the world in the coming years, mainly because of the growing requirement for automation in factory, warehouse, and logistics operations and the rising usage of collaborative modular robotics systems in various industries.

Key Topics Covered:

Chapter 1. Research Background

1.1 Research Objectives

1.2 Market Definition

1.3 Research Scope

1.4 Key Stakeholders

Chapter 2. Research Methodology

2.1 Secondary Research

2.2 Primary Research

2.3 Market Size Estimation

2.4 Data Triangulation

2.5 Currency Conversion Rates

2.6 Assumptions for the Study

2.7 Notes and Caveats

2.8 Impact of COVID-19 Outbreak

Chapter 3. Executive Summary

Chapter 4. Introduction

4.1 Definition of Market Segments

4.1.1 By Offering

4.1.1.1 Hardware

4.1.1.1.1 Controller

4.1.1.1.2 Driver module

4.1.1.1.3 Manipulator

4.1.1.1.4 Sensor

4.1.1.1.5 Other

4.1.1.2 Software

4.1.1.3 Services

4.1.2 By Robot Type

4.1.2.1 Articulated modular robots

4.1.2.2 Cartesian modular robots

4.1.2.3 SCARA modular robots

4.1.2.4 Parallel modular robots

4.1.2.5 Collaborative modular robots

4.1.2.6 Others

4.1.3 By Payload Capacity

4.1.3.1 1-16.0 Kg

4.1.3.2 16.1-60.0 Kg

4.1.3.3 60.1-225.0 Kg

4.1.3.4 More Than 225.0 Kg

4.1.4 By End User

4.1.4.1 Industrial

4.1.4.1.1 Automotive

4.1.4.1.2 Electrical & electronics

4.1.4.1.3 Plastics & rubber

4.1.4.1.4 Metals & machinery

4.1.4.1.5 Food & beverages

4.1.4.1.6 Healthcare

4.1.4.1.7 Others

4.1.4.2 Commercial

4.1.4.3 Residential

4.2 Value Chain Analysis

4.3 Market Dynamics

4.3.1 Trends

4.3.1.1 Penetration of IIoT in industrial manufacturing

4.3.2 Drivers

4.3.2.1 Surging demand for automation in manufacturing industry

4.3.2.2 Growing demand for collaborative modular robots

4.3.2.3 Impact analysis of drivers on market forecast

4.3.3 Restraints

4.3.3.1 Complexity in design of modular robots

4.3.3.2 Impact analysis of restraints on market forecast

4.3.4 Opportunities

4.3.4.1 Use of artificial intelligence to improve productivity

4.4 Porter's Five Forces Analysis

Chapter 5. Global Market Size and Forecast

5.1 By Offering

5.1.1 Hardware, by Type

5.2 By Robot Type

5.3 By Payload Capacity

5.4 By End User

5.4.1 Industrial, by Type

5.5 By Region

Chapter 6. North America Market Size and Forecast

Chapter 7. Europe Market Size and Forecast

Chapter 8. APAC Market Size and Forecast

Chapter 9. LATAM Market Size and Forecast

Chapter 10. MEA Market Size and Forecast

Chapter 11. Competitive Landscape

11.1 List of Players and Their Offerings

11.2 Ranking Analysis of Key Players

11.3 Competitive Benchmarking of Key Players

11.4 Global Strategic Developments in the Market

11.4.1 Product Launches

11.4.2 Facility Expansions

11.4.3 Partnerships

11.4.4 Client Wins

Chapter 12. Company Profiles

12.1 Business Overview

12.2 Product and Service Offerings

12.3 Key Financial Summary

For more information about this report visit https://www.researchandmarkets.com/r/jb90fd

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Artificial Intelligence Risk Is Topic Of Great Valley Research – Patch.com

MALVERN, PA Four Penn State Great Valley professors will be researching ways to test for risk and vulnerability in Artificial Intelligence at the development stage, so practical problems can be headed off.

Self-driving cars and other Artificial Intelligence-assisted technologies awaiting mainstream use depend on large volumes of collected data. If data is in any way distorted, biased or tampered with, it's suddenly not so awesome and could pose risks to people's lives and to public safety.

A research grant will fund their project, "Managing Risks in AI Systems: Mitigating Vulnerabilities and Threats Using Design Tactics and Patterns." The Great Valley faculty team was one of eight across Penn State campuses to receive the one-year seed grants to fund research on cybersecurity for Artificial Intelligence.

"Every AI project should manage risks in a broad sense." said Youakim Badr, associate professor of data analytics at Penn State Great Valley. He explained, "The research project aims at applying risk management when we design an AI system and continuously monitor its behavior at runtime."

In the near future, many AI applications will be in physical contact with humans and will offer unimagined opportunities in many areas such as driverless trucks, fruit harvesting robots, autonomous boats, and robotic surgery, to mention just a few, said Badr.

Poorly designed, misused or hacked AI systems could mean loss of human control and could compromise the integrity of their own operating.

Badr said AI has become and will be a norm in the future to achieve superhuman performance in cognitive tasks, ranging from text understanding, translation between languages, question answering, to generating novels and artistic works.

AI techniques are also increasingly used to enhance decision-making processes to approve loans, diagnose diseases, predict recidivism and leverage our homeland security and defense.

The increasing dependency on AI systems poses potential risks. Risks stem from various sources, including deliberate cyberattacks from adversaries, biases in training data and machine learning algorithms, events of unpredictable root-cause, and bugs in software development.

AI Risks, if manifested, could expose them to potential threats and misbehavior that their designers would not expect or desire.

Badr and the Great Valley team at Penn State recently received a grant for research on "Managing Risks in AI Systems: Mitigating Vulnerabilities and Threats Using Design Tactics and Patterns." The project's co-principle investigators are Parth Mukherjee, assistant professor of data analytics, Raghu Sangwan, associate professor of software engineering, and Satish Srinivisan assistant professor of information science.

The project also includes Prasenjit Mitra, professor of information sciences and technology, associate dean for research in the College of Information Sciences and Technology, and the director of the Center for Socially Responsible Artificial Intelligence.

The impetus for the project came when Badr noticed significant vulnerabilities in AI systems, like self-driving cars that could be tricked to misread traffic signs or human biases imprinted upon AI algorithms and training datasets that could lead to stereotypes and injustice

Because intelligent systems aren't solely designed from software, the team saw an opportunity to explore how identifying and mitigating risks and vulnerabilities at the development stage could help AI-based systems to become safer and trustworthy.

The Great Valley faculty team was one of eight across Penn State campuses to receive the one-year seed grants to fund research on cybersecurity for Artificial Intelligence.

Risk management in AI systems is just beginning. "The discipline of AI risk management still in its infancy," said Badr.

"Today's AI systems use human reasoning as a model to achieve outperformance in specific tasks, but they are far from building the Artificial General Intelligence (AGI) which aims to understand and perform any cognitive task. AI systems learn by example to automate reasoning and thus solve problems," Badr said.

Intelligent tasks accomplished by AI systems rely on training data to build their capabilities in decision-making and prediction on unforeseen data. Badr explained AI's predictive capabilities mainly come from data collected from real-world or through interactions with AI's environments.

"And that can be the root cause of many risks, like biases and skewness" he said.

"AI systems are not only hungry for data but also thirsty for computational resources," Badr said. This opens the door for several cybersecurity risks and attacks that threaten their underlying infrastructures, communication networks and software applications.

"Adversarial attacks are remarkable cybersecurity threats by which malicious adversaries intentionally provide input (like images or text) designed in a specific way to inject backdoor patterns that may trigger AI systems to make a wrong prediction," Badr said.

For example, Badr explained, adversarial attacks can fool a self-driving vehicle by compromising its speed detector, which basically recognizes the speed limit from road signs images. An attacker could target the speed detector during the training phase by adding poisoned images of road signs with imperceptible perturbations. This can lead the car engine to speed up when the speed detector's camera captures an altered road sign with small stickers that intentionally increase the car's speed.

Risk management in AI systems is one step in a long journey to build trustworthy and safe AI. "By identifying risks at design time and at runtime, we will be able to mitigate them with appropriate treatment and enable controlled behavior with respect to predefined requirements," said Badr.

As AI technologies become more and more pervasive and efficient, every AI project must consider risk management, said Badr. But he expects we are up to the task.

"AI is to our century what electricity was in its time," he said.

Dealing with AI risks implies new complex systems and require us to look at problems from varied perspectives so that abnormalities and malicious behavior are identified but also then analyzed, evaluated and resolved. This takes multiple academic disciplines, he said.

The research of Badr, Mukherjee, Sangwan, and Srinivasan is multidisciplinary.

"It's an excellent opportunity for our campus and faculty to bring together different expertise around AI, cybersecurity and software engineering," Badr said.

Part of the work, he said, is to enable resilience and fault tolerance into AI systems, create methods and tools to test the system operating if and when one or more components are compromised or misbehave.

The team seeks to come up with a systematic approach for people who are interested in developing intelligent systems so they become aware of AI risks and vulnerabilities before they develop their products at a large scale and deploy it into real situations.

The team's diverse research background creates a unique approach to test for vulnerabilities when developing AI systems. Badr will focus on the risk management framework for AI-based systems, Mukherjee on monitoring and evaluating risk propagation when these systems are distributed, Sangwan on developing a software engineering approach to architecting and designing AI systems centering on their testability of their behaviour, and Srinivasan on fault tolerance and predictions.

The grants are funded in concert with the 2020 industryXchange, an annual University-wide event hosted by the College of Engineering.

"We are confident that our research topic will attract industry partners and have a significant impact on the development of trustworthy decentralized AI systems," said Badr.

The Great Valley campus focuses on bridging the gap between industry and academia, both for full-time students preparing to enter the workforce and for students already working in industry full-time. The broad reach of cybersecurity and AI will provide opportunities for graduate students from multiple programs to contribute to the research, also.

"We seek to create the synergy needed to provide the best opportunities between research and academic programs for the students," Badr said.

"We hope that the project's outcomes can be transferred to our classrooms and support our campus mission of providing high-quality, innovative and technologically progressive opportunities to collaborate with companies and industry."

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Opinion/Middendorf: Artificial intelligence and the future of warfare – The Providence Journal

By J. William Middendorf| The Providence Journal

J. William Middendorf, who lives in Little Compton, served as Secretary of the Navy during the Ford administration. His recent book is "The Great Nightfall: How We Win the New Cold War."

Thirteen days passed in October 1962 while President John F. Kennedy and his advisers perched at the edge of the nuclear abyss, pondering their response to the discovery of Russian missiles in Cuba. Today, a president may not have 13 minutes. Indeed, a president may not be involved at all.

Artificial intelligence is the future, not only for Russia, but for all humankind. It comes with colossal opportunities but also threats that are difficult to predict. Whoever becomes the leader in this sphere will become the ruler of the world.

This statement from Vladimir Putin, Russian president, comes at a time when artificial intelligence is already coming to the battlefield and some would say it is already here. Weapons systems driven by artificial intelligence algorithms will soon be making potentially deadly decisions on the battlefield. This transition is not theoretical. The immense capability of large numbers of autonomous systems represent a revolution in warfare that no country can ignore.

The Russian Military Industrial Committee has approved a plan that would have 30% of Russian combat power consist of remote controlled and autonomous robotic platforms by 2030. China has vowed to achieve AI dominance by 2030. It is already the second-largest R&D spender, accounting for 21% of the worlds total of nearly $2 trillion in 2015. Only the United States at 26%ranks higher. If recent growth rates continue, China will soon become the biggest spender.

If China makes a breakthrough in crucial AI technology satellites, missiles, cyber-warfare or electromagnetic weapons it could result in a major shift in the strategic balance. Chinas leadership sees increased military usage of AI as inevitable and is aggressively pursuing it. Zeng Yi, a senior executive at Chinas third-largest defense company, recently predicted that in future battlegrounds there will be no people fighting, and, by 2025, lethal autonomous weapons would be commonplace.

Well-intentioned scientists have called for rules that will always keep humans in the loop of the military use of AI. Elon Musk, founder of Tesla, has warned that AI could be humanitys greatest existential threat for starting a third world war. Musk is one of 100 signatories calling for a United Nations-led ban of lethal autonomous weapons. These scientists forget that countries like China, Russia, North Korea and Iran will use every form of AI if they have it.

Recently, Diane Greene, CEO of Google, announced that her company would not renew its contract to provide recognition software for U.S. military drones. Google had agreed to partner with the Department of Defense in a program aimed at improving Americas ability to win wars with computer algorithms.

The world will be safer and more powerful with strong leadership in AI. Here are three steps we should take immediately.

Convince technological companies that refusal to work with the U.S. military could have the opposite effect of what they intend. If technology companies want to promote peace, they should stand with, not against, the U.S, defense community.

Increase federal spending on basic research that will help us compete with China, Russia, North Korea and Iran in AI.

Remain ever alert to the serious risk of accidental conflict in the military applications of machine learning or algorithmic automation. Ignorant or unintentional use of AI is understandably feared as a major potential cause of an accidental war.

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The Connection Between Artificial Intelligence and Data Center Cooling – Data Center Frontier

According to Trane, data center cooling is "all about the design." (Photo: Rich Miller)

A new white paper from Siemens looks into the details for dynamically match cooling to IT load in real time. The new pape asserts that artificial intelligence is playing a key role in cooling todays data centers.

Amid the global pandemic, societal habits have increased demand for data usage at an unprecedented rate, says the report.

While this may mean more revenue for commercial data centers, the surge in usage is also increasing risks of downtime creating more demand on staff, equipment and energy consumption. These changes give rise to a bigger challenge: how do you scale to meet current demand and plan for future capacity in an age of hyperconnectivity? Siemens

But there may be an answer in artificial intelligence, known as AI, which continues to offer data centers potentialsolutions to improve operations over the long term.

Its true. Incorporating AI into an organizations systems can be challenging. But theres good news, according to the report.

Data centers can easily and successfully implement AI in their operations with new thermal cooling solutions, said Siemens.

The new paper explores AI and its impact on data centers, using white space cooling optimization as an example of how AI can be implemented today.

It starts by taking a look at thechanging data center landscape, and this report provides a glimpse into what the future holds and examines the critical aspects of thermal cooling, specifically thermal optimization.

Some of the challenges facing data centers today include:

Thats according to research from Forbes Insights in early 2020, which attempted to answer the question of whats next for data centers.

One thing is for sure, AIs impact on data centers is going to be swift and definitive.

Artificial Intelligence (AI) is part of the digital transformation and is poised to have a tremendous impact on data center management, productivity and infrastructure, the report states.

And there is one area where AI can immediatelydeliver real benefits is data center cooling and control. As demand for data grows, so does the need to better manage cooling conditions in data centers.

The report contends that thermal optimization can be an answer, which according to Seimens, eliminates the need to manually maintain the optimal, cool and consistent temperatures required to house data center equipment safely.

The report focuses on how a data center can easily begin integrating AI into its processes through whitespace cooling optimization (WSCO) and reviews how a global financial firm is using WSCO as part of its thermal optimization plan, with promising results.

Specifically, the report covers the following topics in detail:

Get the full report, How Artificial Intelligence Is Cooling Data Center Operations, to explore how to integrate AI into your data center usingthermal cooling solutions.

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Baidu Leads China in Artificial Intelligence Patents, is Poised to Bring About Intelligent Transformation – PRNewswire

BEIJING, Dec.1, 2020 /PRNewswire/ -- Baidu, Inc (NASDAQ: BIDU) holds the most AI-related patents and has filed the most AI-related patent applications of any company or organization in China, according to a recent study published by two units of China's Ministry of Industry and Information Technology (MIIT), a recognition of the company's commitment to innovation and its leadership of the AI field.

Baidu has been granted 2,682 AI-related patents and has filed a total of 9,364 AI-related patent applications as of October 2020, ranking No. 1 in applications for the third consecutive year. Baidu's patent applications were followed by Tencent (8,450), Huawei (7,381), and Inspur (7,052), according to the report jointly issued by the China Industrial Control Systems Cyber Emergency Response Team and the Electronic Intellectual Property Center, two units under the MIIT.

The report showed that Baidu is the leader of both patents and patent applications in several important sub-fields of AI, reflecting its comprehensive leadership of AI technologies. These include deep learning (438 patents and 2,340 applications), natural language processing (NLP) (377 patents and 1,383 applications), intelligent speech (330 patents and 1,135 applications), autonomous driving (283 patents and 1,928 applications), knowledge graph (242 patents and 884 applications), intelligent recommendations (540 patents and 1,414 applications), and big data for transportation (384 patents and1,237 applications).

Baidu's rich patent resources have been leveraged and applied across the company's business units. Patented technologies in deep learning have been utilized in PaddlePaddle, Baidu's open-source industrial level deep learning platform. Baidu's core technological strengths in autonomous drivingas reflected by its patent leadershiphas enabled it to a global industry leader, empowering projects such as the Apollo Go Robotaxi service, which is open to the public in Beijing, Changsha, and Cangzhou.

Baidu's advanced NLP and intelligent speech technologies have also bolstered the company's products, bringing benefits to users through the power of AI. Integrating NLP functions, Baidu launched an "intelligent consultation assistant" to support hospitals and healthcare partners to upgrade their online services amid COVID-19, exponentially boosting the efficiency of online medical consultations. Meanwhile, Baidu's intelligent speech technologies power the Xiaodu lineup of smart products, including speakers, displays, and earbuds.

Baidu's leading advantages in AI are the result of its persistent commitment in the field since 2010, and the company has become a leader at the forefront of global AI industry. Moving forward, Baidu will continue to invest in and further explore AI technologies and applications in products and vertical industries. Baidu will promote intelligent transformation and serve as a new engine for economic growth.

About Baidu

Baidu, Inc. is the leading Chinese language Internet search provider. Baidu aims to make the complicated world simpler for users and enterprises through technology. Baidu's ADSs trade on the NASDAQ Global Select Market under the symbol "BIDU." Currently, ten ADSs represent one Class A ordinary share.

Media Contact[emailprotected]

SOURCE Baidu, Inc.

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How the Combination of Artificial Intelligence and IoT makes the Smart Factory a Reality – MarketScale

Augsburg / Munich, December 1, 2020 Part 4 of the digital press conference series Join us for a coffee took a look into the future of manufacturing and showed how industrial companies can increase efficiency, product quality and revenue by linking artificial intelligence and the Internet of Things this time with the expertise of KUKA, Device Insight and Sentian.

When it comes tocombining artificial intelligence and IoT, industry has so far clearly focused on predictive maintenance. A mistake, says Dr. Christian Liedtke, Head of Strategic Alliances at KUKA, with conviction. As the expert made clear at the beginning of the virtual discussion round: If companies focus exclusively on predictive maintenance, they can only achieve better availability of a single machine, which shouldnt fail anyway. What end users are really interested in isgenerating more revenue. To achieve this, however, all those involved in the process must work better together and individual processes must interlock seamlessly.

One approach enabling such a holistic optimization of production is the combination of artificial intelligence and the Internet of Things to form an Artificial Intelligence of Things (AIoT), as created by KUKA subsidiaryDevice Insightand AI specialistSentian. Here, the aim is tocontinuously reduce deviations from the optimum within a manufacturing processand to automate improvements. As initial applications of AIoT show, it is precisely the fine adjustments of industrial production that can exploit enormous potential to increase the quality of goods produced and overall yield. According to McKinsey, this will enable anincrease in efficiency of up to 30 percent. The key is therefore to synchronize AI and IoT technologies.

This is why IoT pioneer Device Insight has joined forces with the Swedish AI specialist Sentian. Together, they are now able to accompany companies on the way tointelligent production away from individual solutions and selective improvements, such as those possible with predictive maintenance, and towards aholistically optimized smart factory.

In 10 to 15 years, artificial intelligence will be in every production process, says Martin Rugfelt, CEO of Sentian. In fact,AI is already important for many industrial companies. It can reduce energy consumption in the chemical industry, cut waste in the pharmaceutical industry, handle variation in paper production or optimize production lines in discrete manufacturing. For example, JUMO, a German manufacturer of automation and sensor technology, has been able to increase the proportion of its sensors in the highest quality class by 8 percent.

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Core Banking Software Market to Reach USD 28.83 Billion by 2027; Adoption of Artificial Intelligence & Cloud in Banking Industry to Aid Growth:…

Pune, Dec. 04, 2020 (GLOBE NEWSWIRE) -- The global core banking software market is set to gain impetus from the increasing adoption of innovative technologies, such as cloud, artificial intelligence, and machine learning in the banking industry. This information is given by Fortune Business Insights in a new study, titled, Core Banking Software Market Size, Share & COVID-19 Impact Analysis, By Deployment (SaaS/Hosted, Licensed), By Banking Type (Large Banks, Midsize Banks, Small Banks, Community Banks, and Credit Unions), By End-user (Retail Banking, Treasury, Corporate Banking, and Wealth Management), and Regional Forecast, 2020-2027. The study further mentions that the market size was USD 8.17 billion in 2019 and is projected to reach USD 28.83 billion by 2027, exhibiting a CAGR of 17.4% during the forecast period.

Click here to get the short-term and long-term impact of COVID-19 on this market.

Please visit: https://www.fortunebusinessinsights.com/core-banking-software-market-104392

COVID-19 Pandemic to Hinder Growth by Changing Interest Rates

The emergence of the COVID-19 pandemic has changed the work culture of various industries across the globe. Numerous financial and baking institutes are implementing the work from home (WFH) policy. Besides, delays in lease payments and changes in interest rates would affect growth negatively. We are delivering accurate reports to help you gain more insights into the current situation of the market.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:

How Did We Develop This Report?

The market for core banking software houses regulatory firms and processors in its supply chain. We have used both primary and secondary research to obtain quantitative and qualitative data about the supply and demand sides. We have also analyzed competitive developments, such as collaborations, new product launches, mergers & acquisitions, joint ventures, collaborations, and agreements. Lastly, the report includes profiles of the prominent organizations and the strategies adopted by them to increase sales.

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Drivers & Restraints-

Increasing Need to Monitor Banking Processes Efficiently Will Bolster Growth

The increasing adoption of SaaS-based or cloud-based core banking software solutions provided by various manufacturers, such as Temenos AG and Finastra would propel the market growth in the near future. These help banks in monitoring transactions and payments effectively. However, the surging concerns about mobile malware, application vulnerabilities, information loss, and unencrypted data may obstruct the demand for core banking software solutions.

Segment-

Large Banks Segment to Grow Rapidly Fueled by Higher Penetration of Internet

Based on the banking type, the large bank's segment generated 34.8% in terms of the core banking software market share. It is likely to remain at the forefront stoked by the rising penetration of the internet and the increasing usage of connected devices for analyzing banking processes.

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Regional Insights-

North America to Dominate Backed by Presence of Prominent Manufacturers

Geographically, in 2019, North America procured USD 3.71 billion in terms of revenue and is set to lead throughout the forthcoming years. This growth is attributable to the presence of reputed core banking software providers, such as VSoft Corporation, Fidelity National Information Services, Inc., and others in the region. Asia Pacific, on the other hand, is expected to be the fastest-growing market because of the increasing adoption of mobile and web-based business applications in the banking sector.

Competitive Landscape-

Key Players Focus on Launching Novel Core Banking Software to Intensify Competition

This market contains a large number of companies. They are mainly focusing on the development of innovative software solutions to cater to the high demand worldwide. Some of the others are also engaged in the partnership strategy to enhance their positions. Below are the two latest industry developments:

List Of Key Companies profiled in Core Banking Software Market Are:

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Core Banking Software Market to Reach USD 28.83 Billion by 2027; Adoption of Artificial Intelligence & Cloud in Banking Industry to Aid Growth:...

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Regulation of Artificial Intelligence in Europe – What’s in the pipeline? – Lexology

Shortly after her inauguration, the new European Commissions president, Ursula von der Leyen, expressed the intent of the new commission to come up with a Digital Strategy addressing Artificial Intelligence regulation within 100 days from beginning of her presidency. Keeping this promise, the European Commission published a first White Paper on Artificial Intelligence A European approach to excellence and trust in February 2020. Statements on such White Paper were collected until 31 May 2020. Together with the White Paper the Commission Report on safety and liability implications of AI, the Internet of Things and Robotics was published, providing more details on the gaps the Commission has identified in existing laws.

What are we talking about?

A definition of Artificial Intelligence was provided by the European Commissions AI High Level Expert Group (AI HLEG) on 8 April 2019, when this group provided Ethics guidelines for trustworthy AI. The Commissions papers are referring to AI HLEG, which defines AI as follows:

Artificial intelligence (AI) systems are software (and possibility also hardware) systems

These defining aspect of AI form the basis of an evaluation of legal gaps and possible requirements for new regulation.

Where are the legal gaps?

The Commission Report on safety and liability implications of AI, the Internet of Things and Robotics identified legal gaps mainly in the following respect:

The European Parliament published a further Report on Intellectual property rights for the development of artificial intelligence technologies, evaluating the status quo and identifying various gaps in IP law. The report found, for example, gaps in respect to the question whether AI is or can be protected by IP, whether IP protected content can be food for AI training and whether someone owns rights to works created by AI.

What kind of regulation do we have to expect?

Upon identification of the various gaps, the EU intends to issue a comprehensive legislative package on AI, which will include new regulations for those who build and deploy AI. First hints on what could be part of such package can be taken from three resolutions the European parliament adopted on 20 October: the Framework of ethical aspects of artificial intelligence, robotics and related technologies; the Civil liability regime for artificial intelligence and the Intellectual property rights for the development of artificial intelligence technologies.

Looking at these Resolution, the following topics might be seen as key to build an ecosystem of trust and enhance the general social acceptance of AI:

When?

A first draft of such new AI legal framework is expected for the first quarter of 2021, whereas some parts could already be reflected in the Digital Services Act, for which a first draft is already expected in December 2020.

Who?

Addressee of such obligations might not always be the software developer, but could be the actor who is best placed to address potential risks. Obligations could therefore also be imposed on the deployer or the service provider. And the obligations will have to be obeyed by all economic operators providing AI-enabled products or services in the EU, regardless of whether they are established in the EU or not.

What to do?

Anyone engaged or interested in AI should monitor closely the developments of the upcoming months, as the new laws will most certainly have impact on AI systems that are currently trained or are even already on the market.

In practice, contractual frameworks for AI systems should therefore already be examined and might include clauses anticipating future developments. Certain upcoming liability risks might also already be taken into account.

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Artificial Intelligence Predicts Drug Combinations That Kill Cancer Cells More Effectively – SciTechDaily

AI methods can help us perfect drug combinations. Credit: Matti Ahlgren, Aalto University

A machine learning model developed in Finland can help us treat cancer more effectively.

When healthcare professionals treat patients suffering from advanced cancers, they usually need to use a combination of different therapies. In addition to cancer surgery, the patients are often treated with radiation therapy, medication, or both.

Medication can be combined, with different drugs acting on different cancer cells. Combinatorial drug therapies often improve the effectiveness of the treatment and can reduce the harmful side-effects if the dosage of individual drugs can be reduced. However, experimental screening of drug combinations is very slow and expensive, and therefore, often fails to discover the full benefits of combination therapy. With the help of a new machine learning method, one could identify best combinations to selectively kill cancer cells with specific genetic or functional makeup.

Researchers at Aalto University, University of Helsinki and the University of Turku in Finland developed a machine learning model that accurately predicts how combinations of different cancer drugs kill various types of cancer cells. The new AI model was trained with a large set of data obtained from previous studies, which had investigated the association between drugs and cancer cells. The model learned by the machine is actually a polynomial function familiar from school mathematics, but a very complex one, says Professor Juho Rousu from Aalto University.

The research results were published in the prestigious journalNature Communications, demonstrating that the model found associations between drugs and cancer cells that were not observed previously. The model gives very accurate results. For example, the values of the so-called correlation coefficient were more than 0.9 in our experiments, which points to excellent reliability, says Professor Rousu. In experimental measurements, a correlation coefficient of 0.8-0.9 is considered reliable.

The model accurately predicts how a drug combination selectively inhibits particular cancer cells when the effect of the drug combination on that type of cancer has not been previously tested. This will help cancer researchers to prioritize which drug combinations to choose from thousands of options for further research, says researcher Tero Aittokallio from the Institute for Molecular Medicine Finland (FIMM) at the University of Helsinki.

The same machine learning approach could be used for non-cancerous diseases. In this case, the model would have to be re-taught with data related to that disease. For example, the model could be used to study how different combinations of antibiotics affect bacterial infections or how effectively different combinations of drugs kill cells that have been infected by the SARS-Cov-2 coronavirus.

Reference: 1 December 2020, Nature Communications.

DOI: 10.1038/s41467-020-19950-z

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Artificial Intelligence Predicts Drug Combinations That Kill Cancer Cells More Effectively - SciTechDaily

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iHealthScreen’s Artificial Intelligence (AI) Based Tool Can Accurately Diagnose Age-Related Macular Degeneration (AMD) and Help Prevent Blindness -…

RICHMOND HILL, N.Y.--(BUSINESS WIRE)--iHealthScreen CEO Alauddin Bhuiyan, Ph.D. along with collaborators at New York Eye and Ear Infirmary at Mount Sinai (NYEEI), presented a prospective study for early diagnosis of AMD at the annual conference of AAO, 2020. The results presented during the prestigious Original Paper Session demonstrated 88.7% accuracy, compared to ophthalmologist gradings, on detecting referable AMD.

AMD, with no early signs or symptoms, is a leading cause of adult blindness in the developed world. Early detection can enable preventative measures in time and stop AMD incident. Currently, AMD diagnosis has been limited to retinal examination by an ophthalmologist. AMD cases in the U.S. are expected to grow from 2.1 million to 5.4 million in the next ten years, and there is an increasing need for large scale screening and identification of individuals who are at risk of developing late AMD. iHealthScreens AI based tool can facilitate this screening and help prevention of late AMD.

In an interview, Dr. Bhuiyan spoke about the study and the findings: We are encouraged by the results and believe that the new AI-based technology can diagnose early AMD in primary care settings, which enables the timely preventative measures by ophthalmologist and prevent this deterioration of vision. We want to express our sincerest thanks to the participants and professional staff who were involved in this clinical trial and gathered the data.

These results speak to the feasibility of this approach, said Theodore Smith, M.D., Ph.D., Trials Principal-investigator and Professor at Icahn School of Medicine at Mount Sinai. I believe that the ease of use of iHealthScreens AI tool will contribute to its adoption in the wider primary care community.

About iHealthScreen

iHealthScreen is a private, clinical-stage, medical diagnostic/device company. iHealthScreen has developed iPredict, an AI and telemedicine-based HIPAA compliant platform for automated screening and prediction of individuals at risk of developing late age-related AMD, diabetic retinopathy (DR), glaucoma, cardiovascular heart disease and stroke.

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iHealthScreen's Artificial Intelligence (AI) Based Tool Can Accurately Diagnose Age-Related Macular Degeneration (AMD) and Help Prevent Blindness -...

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