Growing initiatives of Amazon (AMZN - Free Report) and Alphabet’s (GOOGL - Free Report) Google, two major players in the virtual market, envisage the importance of AI-integrated virtual assistants in the upcoming Consumer Electronics Show (CES) 2020.
Reportedly, both the companies are likely to introduce new and advanced features of their respective voice assistant software at the show in an effort to showcase benefits to customers.
Moreover, the functions of Alexa and Google Assistant will be exhibited with updated features as incorporated in Amazon and Google’s own devices, and Internet-connected products by other firms.
Further, Alexa is expected to feature in cars as an inbuilt technology at the show under review.
With the abovementioned CES preparations by Amazon and Google, it is clear that smart devices integrated with voice-controlled actions and features are likely to take center stage at the show.
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We believe these moves at CES is likely to bolster both the companies’ presence further in the global voice assistant market, which as per a report from Research and Markets, is expected to hit $5.4 billion by 2024, witnessing a CAGR of 30% between 2020 and 2024.
Moreover, both the companies are leaving no stone unturned to deliver enhanced user experience by developing the skills of their voice assistants.
Currently, Alexa Skills Store comprises over 100,000 skills. Further, the e-commerce giant recently made Education Technology skills available on Alexa.
Additionally, increasing number of devices compatible with Alexa remains a major positive. Notably, the virtual assistant is now capable of controlling above 85,000 smart home products from more than 9,500 brands.
Meanwhile, Google’s Assistant SDK for devices is also helping the third parties to integrate its voice assistant with various devices and smart cars.
Further, the search giant’s constant efforts to develop AI skills remain a major positive.
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Other Players’ CES Plans
Apart from Google and Amazon, Apple (AAPL - Free Report) and Samsung (SSNLF - Free Report) are also gearing up to showcase their smart devices strength at CES 2020.
Apple’s Siri will be on show incorporated within the new and advanced third-party gadgets.
Further, its software framework called HomeKit that helps in controlling smart-home appliances via voice commands through Siri or via Home app will be under focus. These initiatives will highlight the iPhone maker’s strengthening smart home initiatives.
Additionally, LG is set to roll out its 8K TV lineup at CES. Notably, these TVs support HomeKit and AirPlay 2 of Apple.
Meanwhile, Samsung Electronics (SSNLF - Free Report) is expected to showcase new TVs, in an attempt to reinforce its smart home endeavors.
We note that Google’s parent Alphabet carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Apple carries a Zacks Rank #2.
Amazon carries a Zacks Rank #3 (Hold).
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