INN goes back to the biggest emerging tech news stories as the sector redefines technology and offers novel opportunities for investment.
With the end of 2019 drawing closer, the Investing News Network (INN) is taking a look back at the year for the top stories in the emerging tech sector.
This year was marked with billion dollar investments and developments that have drastically changed the way we engage with technology.
Here, INN summarizes the biggest news stories in emerging tech as the sector redefines technology and offers a variety of novel opportunities for investment.
The top story on our list is a round-up on this year’s Collision technology conference — the world’s largest conference devoted to tech — which was held in Toronto for the first time.
Canadian Prime Minister Justin Trudeau made an appearance, during which he spoke on the importance of innovation in tech, especially in Canada, adding that the country is going to focus on developing talent to establish itself in the global tech sector.
Other big names, including singer Akon, producer Timbaland and actor Seth Rogen, were in attendance as well.
Also standing out at the event were firms that brought together healthcare and tech, like One Health Company, which took to the main stage to discuss its work in personalized medicine and cancer treatment for dogs.
Our second story is a talk with sMedia CEO Marshal Finch about investment in artificial intelligence (AI) from companies in the automotive industry.
SMedia provides automotive dealership services to better understand its clients using AI-enhanced insights. The firm also developed Vroomance, an emarketplace with listings for over 16 million cars across North America.
Finch said that the next largest car listing site, Cars.com, only has 4.5 million listings and that Vroomance has the benefit of being reinforced by its AI “crawlers” that gather info online.
“We actually know how many cars Ford (NYSE:F) is selling, Chrysler (NYSE:FCAU) and all the original equipment manufacturers, before they do,” Finch explained. “So we have the insights into how the market, in different areas, in different places, is actually experiencing things.”
Kraken Robotics (TSXV:PNG,OTCQB:KRKNF) comes in third with its acquisition of Kraken Power, a marine technology company that creates underwater robotic systems, including a deep-sea battery that was purchased by Ocean Infinity.
In addition to its acquisition, Greg Reid, CFO of Kraken Robotics, told INN the company was moving forward with a Robots-as-a-Service (RaaS) offering, which will allow customers to use its services and pay a monthly fee.
“If you have a customer that doesn’t want to buy your $3 million piece of equipment — it just wants to use it a month, a year — we can provide that offering to them and operate the equipment and then just sell them the data,” Reid said.
The executive added that Kraken has plans to launch a project using its underwater drones to map out the ocean in Atlantic Canada.
Probably the cutest addition to the list is Pepper the robot, which was introduced by HSBC Bank Canada to its customer service operations, becoming the first bank in Canada to do so.
The joke-telling robot was developed by SoftBank’s (OTC Pink:SFTBY,TSE:9984) SoftBank Robotics, and its introduction to the banking world follows similar moves by banks in New York, Seattle and Beverly Hills.
In a press release, Larry Tomei, executive vice president and head of retail banking and wealth management at HSBC Bank Canada, noted that robots can’t replace the existing team, but the addition of Pepper will go a long way towards easing the load on its human counterparts.
Pepper, for its part, is outfitted with facial recognition technology and linguistic expertise that allows it to read emotions, allowing it to carry on casual conversations and even show emotion itself.
We end our review with coverage of a talk from Samsung Electronics (KRX:005930) President and Chief Innovation Officer David Eun, who talked at Collision about the firm’s investment into AI and its focus on building relationships with innovators.
Speaking at the show, Eun said that Samsung NEXT will use specialized teams focused on venture capital, mergers and acquisitions and product development to stay ahead of its tech competitors.
In terms of emerging tech, Samsung will be investing US$22 billion into AI and fifth generation cellular wireless technology over the next three years.
Don’t forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Danielle Edwards, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in contributed article. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.