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AI Eye Podcast 752: Stocks discussed: (OTCQB: LZGI) (NYSE: KMX)

Fatbrain AI Issues Shareholder Update, and CarMax Partners with AI Firm UVeye

 

Vancouver, Kelowna, Delta, BC - January 24, 2023 (Investorideas.com Newswire) 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 - featuring technology company LZG International Inc. (Fatbrain AI) (OTC:LZGI).

Today's podcast is sponsored by Fintech Company AppTech Payments Corp. (NasdaqCM:APCX).

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https://www.investorideas.com/Audio/Podcasts/2023/012423-AI-Eye.mp3

AI Eye Podcast 752: Stocks discussed: (OTCQB: LZGI) (NYSE: KMX)

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

Stocks discussed: (OTCQB:LZGI) (NYSE:KMX)

LZG International Inc. (Fatbrain AI) (OTCQB:LZGI) has issued a shareholder update from CEO Peter B. Ritz. According to the update, the company's assets now include "over 480 developers and engineers, a subscription software AI enablement platform, and a delivery operation spanning three continents." Ritz explained:

"The market for AI Solutions is growing, estimated at US$119.78B in 2022 and expected to hit US$1,597.1B by 2030 with a registered CAGR of 38.1% from 2022 to 2030. We have tripled investments into innovation, R&D and AI data solutions. This includes plans to commercialize the regional cloud and SME marketplace in specific geos, as well as FatGPT™ offerings for SMEs, building on the demand highlighted by Open AI's ChatGPT and Microsoft. For example, using our FatGPT™ AI solution business owners could in seconds gain key insights across all their SaaS data such as, "what is the most profitable product purchased by my best clients?" or "which five clients owe the most money?" or "who can work the night shift next Thursday?""

Automobile retailer CarMax, Inc. (NYSE:KMX) has announced that it is partnering with computer vision tech company UVeye on automated vehicle assessment technology through AI-enhanced condition reports for wholesale buyers of vehicles sold at auction. Dave Unice, CarMax's VP of Merchandising Operations, said:

"CarMax's purpose is to drive integrity by being honest and transparent in every interaction. Our partnership with UVeye allows us to further this mission by providing dealers with highly detailed imagery on auction vehicles online. We've been impressed with UVeye's technology, and we believe it will help us maximize efficiencies in our wholesale auction process. We look forward to further implementing this best-in-class solution across our network and exploring new opportunities and potential uses with UVeye."

Global Generative AI Market to Reach $200.73B by 2032

A report published by Polaris Market Research finds that the global Generative AI market is projected to grow from $10.63 billion USD in 2022 to $200.73 billion by 2032, registering a compound annual growth rate (CAGR) of 34.2 percent in the forecast period. The following excerpt from the report's summary reads:

The increasing utilization of generative AI for spam detection, preprocessing data, image compression, and noise reduction from visual data along with its continuously growing usage in medical imaging and image classification are key major factors propelling the growth of the global market. Currently, generative AI is in its developing stage thus, it requires high investment in research & development activities and it requires a skilled workforce for taking it to the next stage.

Sam Mowers, Investorideas.com

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Podcast sponsor:

AppTech Payments Corp. (NasdaqCM:APCX) is an innovative Fintech company whose mission is to deliver a better way for businesses to provide their customers with immersive commerce experiences. Commerse™, its all-new, patent-backed technology platform powering seamless omni-channel Commerce Experiences-as-a-Service (CXS), drives highly secure, scalable, cross-border digital banking, text-to-pay, crypto payments and merchant services altogether from a single, unified stack designed to increase operational efficiencies and growth for businesses while providing the economic convenience that their customers demand from today's commerce experiences. For more information, visit apptechcorp.com.

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