Today’s Cyndx Insights reported on FIS’s new venture fund and IBM’s recommendations for supply chains. Discover opportunities in the fintech and blockchain sectors with Extra Insights, powered by Cyndx Finder.
US Fintech Startups Focused on AI
FIS Ventures plans to invest $150M in fintech startups through 2023, according to an announcement yesterday. The firm will fund companies involved in emerging technologies, including artificial intelligence and machine learning.
Analysts anticipate that the global market for machine learning, which is only a subset of AI, will see a 43.8% CAGR from 2019 to 2025. In the United States, Cyndx identified 11 private companies focusing on machine learning within the financial technology sector (including Cyndx Holdco.)
New Solutions for Supply Chains
IBM has a recommendation for businesses hurt by global supply chain disruptions: embrace blockchain. It says the technology could solve trust and transparency issues, which have driven widespread panic-buying during the COVID-19 outbreak. In 2019, IBM also presented blockchain as a tool for reducing fraud and error in supply chains, when it launched the Trust Your Supplier network.
Cyndx found 366 private companies developing blockchain technology for supply chains, including Skuchain. The California company boasts clients across several industries, including commodities, food and agriculture, automotive, and banking and financial services.
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