Spending in AI and Automation Expected to Increase Due to COVID-19

(NEW YORK)–As economies around the globe struggle to recover from the coronavirus pandemic some winners are emerging from the way we work and interact such as Artifical Intelligence (A.I.), Robotics, and IoT.

While many business sectors struggle under these difficult times some segments seeing increased spending growth are in the areas of AI and Automation.

Impact of Coronavirus

The coronavirus pandemic has put demand on businesses to remodel operations to allow employees to work from home. Further, increased spending on online communications and cloud technologies will generate new opportunities in Cloud and 5G applications.

Centralization of corporate data during the crisis will also help companies to build on AI capabilities. AI systems are being used to identify and track vulnerable populations, and generate warnings for potential outbreaks in the future, and are proving useful in administration applications for healthcare facilities.

AI Spending Projections

According to research from IDC, the global spending on AI (Artificial Intelligence) is expected to hit $97.9 billion by 2023, up from $37.5 billion in 2019, which represents a compound annual growth rate of 28.4%

Recent Stock Sector Performance

To get better idea of the investment potential within these sectors below is 3-month of some of the more popular next generation technology sectors. * as of Aug. 07, 2020

Cloud Computing ETF (CLOU) +46.71%
Robotics & Artificial Intelligence ETF (BOTZ) +31.94%
Robotics and Automation Index ETF (ROBO) +29.47%
5G Next Gen Connectivity ETF (FIVG) +25.60%

Conclusion

AI VentureTech is highly confident we are well positioned to take part in this dynamic change in the global economy and increased spending on cloud and AI applications. We continue to move forward with the development of our AI Research Lab in New York City, called Next Realm AI, to leverage out these new opportunities in IoT, Smart Cities, and 5G wireless.

HOW TO INVEST IN THE COMPANY

Investment opportunities in AI VentureTech are currently available to ‘accredited’ and institutional investors only, as defined by the SEC. If you are an ‘accredited investor’ and would like to learn more on how to invest in the company, please request an investor packet by registering at https://aiventuretech.com/investors/signup/

About AI VentureTech

AI VentureTech is an AI research lab and development company that leverages cutting-edge technologies to deliver data-related products and solutions that empower enterprise customers and partners through improving their business efficiency, enhancing their value and realizing their digital transformation. Located in New York City, our team of data scientists and engineers can customize AI-powered software and technical solutions for both companies and institutions looking to leverage data and machine learning for greater business value. The Company seeks growth through both collaboration and acquisition of dynamic new start-ups in the areas of business analytics, machine learning, natural language processing (NLP), visualization tools, predictive modeling, and cloud advanced analysis. www.aiventuretech.com

Follow us on Twitter: https://twitter.com/aiventuretech

Facebook: https://m.facebook.com/AIVentureTech/

Forward-Looking Statements
This document contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Share