AI Eye Podcast 697: Stocks discussed: (NYSE: $LHX) (NYSE: $MAXR)
L3Harris Technologies and Maxar Technologies Selected by US DOD for AI Programs
Vancouver, Kelowna, Delta, BC - May 20, 2022 (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.
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AI Eye Podcast 697: Stocks discussed: (NYSE: LHX) (NYSE: MAXR)
Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence
Stocks discussed: (NYSE:LHX) (NYSE:MAXR)
L3Harris Technologies, Inc. (NYSE:LHX) has announced that it has been selected by the U.S. Department of Defense (DOD) to deliver artificial intelligence services to improve intelligence gathering and collaboration across the defense and intelligence communities. Called the Joint Artificial Intelligence Center (JAIC) Data Readiness for AI Development, the contract "prepares data for artificial intelligence (AI) applications," "eases sharing, discovering and governing of data across Department of Defense (DOD) teams," and "rapidly fields AI solutions by enabling access to tools, metrics and synthetic data." Ed Zoiss, President, Space and Airborne Systems, L3Harris, said:
"Massive volumes of data must be turned into actionable intelligence every day. We will help to empower DOD users with 'point and click' capabilities to generate synthetic data and create custom workflows that can be used with automated updates."
Maxar Technologies Inc. (NYSE:MAXR) was also selected for a spot on a Joint Artificial Intelligence Center (JAIC) Basic Ordering Agreement (BOA) with a ceiling value of $241M over five years. This, according to the press release, will see Maxar "support the U.S. Department of Defense (DOD) and the JAIC's Data Readiness for Artificial Intelligence Development (DRAID) program with software development as well as data science, engineering, analysis, standards and architecture services." Tony Frazier, Maxar's Executive Vice President and General Manager of Public Sector Earth Intelligence, said:
"Maxar is excited to support the JAIC and the broader DOD community in the streamlining and standardization of artificial intelligence and machine learning capabilities. The Maxar team looks forward to applying our vast knowledge and experience in Earth intelligence as well as our deep understanding of AI/ML toward this mission."
Global AI in Agriculture to Exhibit 19.9% CAGR from 2019-26
A report published by Straits Research finds that the global AI in Agriculture market, which was valued at $509.06 million USD in 2017, is projected to exhibit a compound annual growth rate (CAGR) of 19.9 percent from 2019-2026. An excerpt from the report's summary outlines the impact of AI adoption in the agriculture space:
AI in agriculture has become an integral part of farming practices as it is improving quality production of crops. Additionally, increase in research and development of advanced robotics technology in the agriculture sector has led to shift the focus of farmers from traditional farming practices to refining the product using enhanced farming methods such as drones, automated systems, and robots. This has been attributed to more sophisticated and modernized farming practices. Rise in consumption and intense requirement of better yield of crops motivates farmers to opt for better farming operations that results in the requirement of automated farming operations/systems.
Sam Mowers, Investorideas.com
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