- The Australian government announced a budget for FY2021-2022 to support AI technology in Australia.
- AI has the potential to overcome the challenges businesses and governments face in their operations.
- ASX-listed players ALC, BID, BRN, CM8 made significant progress lately. Thus, can be explored in November 2021.
Artificial Intelligence is an evolving technology and presents incredible opportunities to grow the Australian economy, create jobs and improve people’s lives. The technology is helping small businesses to understand their customer, manage work and resources more efficiently. The technology would also support in overcoming challenges related to bushfires and any health-related issues.
- How is Artificial Intelligence impacting the Australian tech world?
- How is Artificial Intelligence helping in dealing with the COVID-19 crisis?
The Australian government also announced its plans to invest AU$124.1 in FY2021-2022 to build capability as a part of this plan.
INTERESTING READ: Will Artificial Intelligence Barge Higher in Post-Pandemic Era?
On that note, let us look at a few ASX-listed players who we feel are worth watching in November 2021.
Alcidion Group Limited (ASX:ALC)
Alcidion Group is the provider of intelligent informatics software for high-performance healthcare. The Company helping health care companies to embrace smart technology. Its customised platform uses clinical decision support, AI, & real-time visualisation to offer smart health informatics for safe delivery of treatment.
On 26 October 2021, ALC released its September 2021 quarter results and reported a 17% increase in total contracted revenue to AU$17.2 million compared to the previous corresponding period.
New contracted revenue ofAU$2.7 million was sold in Q1 FY2022. Another AU$2.4 million of that will be recognised in FY2022.
ALC’s cash position by the end of the September 2021 quarter was AU$21.5 million.
On 18 October 2021, ALC declared that it extended the application of Miya Precision, with the Sydney Local Health District to provide a further AU$1.8 million in revenue over the next 3 years. Miya Precision is a remote patient monitoring platform.
ALC closed at AU$0.370 per share today.
Bill Identity Limited (ASX:BID)
Bill Identity provides Utility Bill Solutions to automate manual processes, increase data visibility, integrity, and control.
On 01 November 2021, Bill Identity reported an increase in total revenue by 39% to AU$3.8 million compared to the previous corresponding period. The total platform revenue increased by 90% to AU$3.2 million.
It secured 11 new client accounts. BID continue to stay focused on accelerating platform growth in Australia and the UK, refocusing the US business and prioritising R&D expenditure to optimise growth, scalability, and operating leverage.
BID has re-evaluated its strategic priorities in the short term and is focused on accelerating its platform growth in Australasia and the UK. It would re-prioritising its R&D and technology expenses to improve for scalability and growth. It would be refocusing the US business.
The stock BID closed 5.883% lower at AU$0.320 per share on the ASX.
Crowd Media Holdings Limited (ASX:CM8)
Crowd Media is an AI company developing conversational AI solutions to begin a new age of human-computer interaction.
Crowd Media released its September quarter results on 29 October 2021 and made considerable advancement in the Talking Head Development, comprising R&D milestones and strengthening of investee partners cooperation.
It started the creation of a proof of concept for medical-assistive products via its partnership with PangeaMed. It is presently negotiating commercial deals that would be signed during Q2 FY2021. Also, CM8 completed the second tranche of investment of GBP250K (equivalent to AU$460k) of agreed GBP 1 million with AI voice-cloning business Aflorithmic Labs Ltd. Its mobile subscription division is delivering constant profits.
BrainChip Holdings Ltd (ASX:BRN)
BrainChip Holdings provide ultra-low power high-performance AI technology. It is the first commercial producer of neuromorphic AI chips in the world.
On 03 November 2021, the Company announced the launch of its sponsored Level 1 ADR Program. The trading would commence via the OTCQX Best Market under ticker BCHPY.
On 27 October 2021, the Company announced that it was given two US patents. Patent US 11,157,800 was awarded for Neural processor-based accelerator system and method and Patent US 11,157,798 for Intelligent Autonomous Feature Extraction System Using Two Hardware Spiking Neutral Networks with Spike Timing Dependent Plasticity.
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It would be granted one more US patent in the coming days.
BRN closed at AU$0.475 per share today.
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The above AI players have made significant developments in the past couple of months and they continue to progress well currently. Based on the recent progress, one can say that the above Companies are well-positioned in the coming period.