{"id":770278,"date":"2023-07-17T12:19:23","date_gmt":"2023-07-17T16:19:23","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/borqs-technologies-to-develop-edge-ai-enabled-smart-watch-for-the-u-s-market\/"},"modified":"2023-07-17T12:19:23","modified_gmt":"2023-07-17T16:19:23","slug":"borqs-technologies-to-develop-edge-ai-enabled-smart-watch-for-the-u-s-market","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/borqs-technologies-to-develop-edge-ai-enabled-smart-watch-for-the-u-s-market\/","title":{"rendered":"Borqs Technologies To Develop Edge AI-enabled Smart Watch for the U.S. Market"},"content":{"rendered":"<div class=\"mw_release\">\n<ul>\n<li style=\"text-align:left\">\n          <strong><br \/>\n            <em><br \/>\n              <u>The state-of-the-art smart watch chipset has sufficient computational power to enable machine learning and AI on the edge.<\/u><br \/>\n            <\/em><br \/>\n          <\/strong>\n        <\/li>\n<\/ul>\n<ul type=\"disc\">\n<li>\n          <strong><br \/>\n            <em><br \/>\n              <u>The smart watch can facilitate everyday life for seniors with special demands for assisted living.<\/u><br \/>\n            <\/em><br \/>\n          <\/strong><\/p>\n<\/li>\n<li>\n          <a href=\"https:\/\/www.mordorintelligence.com\/industry-reports\/north-america-smart-watch-market\" rel=\"nofollow noopener\" target=\"_blank\"><br \/>\n            <strong><br \/>\n              <em>The North America Smart Watch Market size is expected to grow from USD 39.75 billion in 2023 to USD 85.71 billion by 2028, at a CAGR of 16.61% during the forecast period (2023-2028).<\/em><br \/>\n            <\/strong><br \/>\n          <\/a><\/p>\n<\/li>\n<\/ul>\n<p align=\"justify\">SANTA CLARA, Calif., July  17, 2023  (GLOBE NEWSWIRE) &#8212; \u00a0Borqs Technologies, Inc. (Nasdaq: BRQS, \u201cBorqs\u201d, or the \u201cCompany\u201d), a global provider of 5G wireless and Internet of Things (IoT) solutions, today announced its plans to develop an AI-enabled smart watch as part of its expansion strategy into artificial intelligence (AI) for the U.S. market.<\/p>\n<p align=\"center\">\n        <em>\u00a0<\/em><br \/>\n        \n      <\/p>\n<p align=\"justify\">The AI-enabled smart watch is positioned as an Edge AI device. According to NVIDIA, <em>\u201cEdge AI is the deployment of AI applications in devices throughout the physical world. It\u2019s called \u201cedge AI\u201d because the AI computation is done near the user at the edge of the network, close to where the data is located, rather than centrally in a cloud.&#8221; (<\/em><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=n4o7qfp9grTbjAYo3hJDAVnYE3dOqeXP-qCjl5qwi8_uMtf1oriwbyperk3hQDUzfYxt1io5CpJetn-FRdmteD3evG6GZRzT6SbNONwbeFh8HcjDS9tr3WLAwW9hSJ2fRGK4EggAAuo0Q74CIQa_xKcVyBpyE1qhl3eJMJqbMkIeNVBBQiYv3VI8A-flwHbT43dlBrZXW9p-s7FHSpgWpaC3UPXj3GMvEP78cUHP9UY=\" rel=\"nofollow noopener\" target=\"_blank\"><em>https:\/\/resources.nvidia.com\/en-us-it-resources-blogs\/what-is-edge-ai<\/em><\/a><em>) <\/em>Borqs AI-enabled smart watch will be based on Android and is wirelessly connected via Wifi\/BT and cellular networks. It will make use of the AI capability on the watch chipset platform to perform the training and inference of machine learning for the sensors on the watch. The watch will also support ChatGPT or similar AGI capabilities as an intelligent voice assistant.<\/p>\n<p align=\"justify\">The first AI watch to be developed will target vertical segments with particular use for the seniors in the United States. With AI capabilities, the smart watch can facilitate everyday life for seniors with special demands for assisted living and meet their daily needs with ease. According to Modor Intelligence, <em>The North America Smart Watch Market size is expected to grow from USD 39.75 billion in 2023 to USD 85.71 billion by 2028, at a CAGR of 16.61% during the forecast period (2023-2028). (<\/em><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=n4o7qfp9grTbjAYo3hJDAcONz4Zp-TjAJhfqFb3E4I99TMIVN9iqzqEJj865eL3-Pjy844rER_dXmAAG89koNhfBY9AxofyTw76WTbRG1z1bXXpE6YSVNnb_GrlvsU6xgraIvizoxHAsVuunUUK7H5AYvP6SfqWzOb3xn2VZpXh3O-0aalOmN4UlI4xr74yNMKXhR3R0OW-DxqeS61k3xC9MgfD684GltwD72P23bUHhS7v3vf73KAq4VRBfe3F0\" rel=\"nofollow noopener\" target=\"_blank\"><em>https:\/\/www.mordorintelligence.com\/industry-reports\/north-america-smart-watch-market<\/em><\/a><em>) <\/em><\/p>\n<p align=\"justify\">\u201cResearch organization IDC predicted that there will be 41.6 billion connected\u00a0IoT devices generating 79.4 zettabytes of data\u00a0in 2025. As volumes grow, new innovative ways for efficient analysis and data processing are needed.\u00a0The state-of-the-art smart watch chipset has sufficient computational power to enable machine learning and AI on the edge. With Edge AI, the device can function without always a connection to the network. AI computation can happen on the device and does not have to send to the cloud for processing. This will reduce bandwidth utilization and time delay for inference, as well as improved privacy. The model will also allow federated learning,\u201d said Mr. Pat Chan, CEO of Borqs.<\/p>\n<p align=\"justify\">With Borqs\u2019 latest AI initiatives and repositioning, as well as, the divestiture value of our solar energy storage subsidiary, Holu Hou Energy (HHE), Stonegate Capital Partners has updated its coverage on Borqs Technologies, which includes a midpoint target price of $1.30\/share. Borqs reported revenues for the year ended December 31, 2022 reached $52.5 million, representing an annual growth rate of 77.7%. Recently, Borqs engaged Cantor Fitzgerald &amp; Co., an internationally renowned investment bank, to head up the sales of Borqs\u2019 ownership in HHE.<\/p>\n<p align=\"justify\">The Stonegate Capital Partners report can be reviewed at:<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=n4o7qfp9grTbjAYo3hJDAQ8M9GhPwfNNslqPE3X5ItY22PwlbXZJKywHxINZxleBMHTDkJFFRxfLuXq0u2HLP2Ll3eh46Itxv8xY4JQB6BOxgjB9rE_T3hxQuJEN5Z6GXa0mRCPy450jKmrO2X2MRywBm_VeBh4m80cr8EFYeMQbyQwWOoi1buYMhpRD3aQaHyY3BDpPgWhAB72DgauYZFDmHIsGx67dVU4FwXZh6Ms=\" rel=\"nofollow noopener\" target=\"_blank\">https:\/\/stonegateinc.com\/download\/brqs-2h-2022\/?wpdmdl=570&amp;refresh=6476507693ecb1685475446 <\/a><\/p>\n<p align=\"justify\">Borqs updated investor presentation can be reviewed at:<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=n4o7qfp9grTbjAYo3hJDAVoW538aWDyVXTbwhVwfOAOrPjHvYyi08zHUeK6qICHP9ZwC3DeK8__LsamgCU-TEYpu6qGzk0fbqxlYLbwIiKayeIjG5RCloEc331NuM9it8k024NN1ztAIF00V5BKc3zRZFk7vBFZ825qLJBy-oF0=\" rel=\"nofollow noopener\" target=\"_blank\">https:\/\/www.borqs.com\/AboutUs\/InvestorRelations.html<\/a>.<\/p>\n<p align=\"justify\">\n        <strong>About Borqs Technologies, Inc.<\/strong><br \/>\n        <br \/>Borqs Technologies (Nasdaq: BRQS, \u201cBorqs\u201d, or the \u201cCompany\u201d) is a global leader in software and products for the IoT, providing customizable, differentiated, and scalable Android-based smart connected devices and cloud service solutions. Borqs has achieved leadership and customer recognition as an innovative end-to-end IoT solutions provider leveraging its strategic chipset partner relationships as well as its broad software and IP portfolio. Borqs\u2019 unique strengths include its Android Licenses which enabled the Company to develop a software IP library covering chipset software, Android enhancements, domain specific usage, and system performance optimization, suitable for large and low volume customized products, and is also currently in development of 5G products for phones and hotspots. <\/p>\n<p align=\"justify\">Website: www.borqs.com.<\/p>\n<p align=\"justify\">\n        <strong>Forward-Looking Statements and Additional Information<\/strong><br \/>\n        <br \/>This press release includes \u201cforward-looking statements\u201d that involve risks and uncertainties that could cause actual results to differ materially from what is expected. Words such as \u201cforecasts\u201d, \u201cexpects\u201d, \u201cbelieves\u201d, \u201canticipates\u201d, \u201cintends\u201d, \u201cestimates\u201d, \u201cpredicts\u201d, \u201cseeks\u201d, \u201cmay\u201d, \u201cmight\u201d, \u201cplan\u201d, \u201cpossible\u201d, \u201cshould\u201d, \u201cestimates\u201d and variations and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements relate to future events or future results, based on currently available information and reflect our management\u2019s current beliefs. Many factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking statements, including the possibility that the positive financial results from the initiatives and the proposed divestment as described herein may not be realized, and the negative impact of the COVID-19 pandemic on the Company\u2019s supply chain, revenues and overall results of operations, so the reader is advised to refer to the Risk Factors sections of the Company\u2019s filings with the Securities and Exchange Commission for additional information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements. Except as expressly required by applicable securities law, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.<\/p>\n<p>Investor Contact:<\/p>\n<p>Sandra Dou<br \/>Vice President of Corporate Finance<br \/>Borqs Technologies, Inc.<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=agJo8Ipg7XYIpTanJLPZn6uOMowMgpnz7QIA5yLt702cCXmW2u-oU5jyD6izo7f9j39ADr4Dp22czAqPOZoBzw==\" rel=\"nofollow noopener\" target=\"_blank\">IR@borqs.com<\/a> \u00a0\u00a0 <br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=6LXNTITcfV16q8SMdrt9OKbdywNImD7HMG2101TPGPe2AoQry3YlCwT3pIJGWw1tcwNvXPiZzlwI2X3aPMrq_g==\" rel=\"nofollow noopener\" target=\"_blank\">www.borqs.com<\/a><\/p>\n<p>A photo accompanying this announcement is available at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=n4o7qfp9grTbjAYo3hJDAdWQwqlhEyL9A8SDH1g32z45nBqQxKgsxKa708_kJ6SCj1J3f8uGd-oo-hyhEpkwpMmI91GTfqjDHfBhM6LRIxyigYVzg4KewUcqtJT8k1shEuu4DeMS7PxiOpt7YkImpwqtfEievDKmbXUmAAP57nMSYrCS1gbpSBt-hfUy-LuFxoCJTht9TgzhE4plCVXjJ5d5sKHaHMdJnoFHIQj-rdFYEML1SXhlbbdRuTHtuCsvFWK81vctw_Q7E_RsRnDWMQ==\" rel=\"nofollow noopener\" target=\"_blank\">https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/a5ae981e-ddad-4a80-951f-899bca962bef<\/a><\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg3NTE1MiM1NjkzODk2IzIwOTE3OTM=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/MWQ4ODQxZjgtYTU1Ny00NDBlLWFhYzQtMDQ2NWY5YjFkM2YwLTExMDMzNjQ=\/tiny\/Borqs-Technologies-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The state-of-the-art smart watch chipset has sufficient computational power to enable machine learning and AI on the edge. The smart watch can facilitate everyday life for seniors with special demands for assisted living. The North America Smart Watch Market size is expected to grow from USD 39.75 billion in 2023 to USD 85.71 billion by 2028, at a CAGR of 16.61% during the forecast period (2023-2028). SANTA CLARA, Calif., July 17, 2023 (GLOBE NEWSWIRE) &#8212; \u00a0Borqs Technologies, Inc. (Nasdaq: BRQS, \u201cBorqs\u201d, or the \u201cCompany\u201d), a global provider of 5G wireless and Internet of Things (IoT) solutions, today announced its plans to develop an AI-enabled smart watch as part of its expansion strategy into artificial intelligence (AI) for the U.S. market. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/borqs-technologies-to-develop-edge-ai-enabled-smart-watch-for-the-u-s-market\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Borqs Technologies To Develop Edge AI-enabled Smart Watch for the U.S. Market&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-770278","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Borqs Technologies To Develop Edge AI-enabled Smart Watch for the U.S. Market - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/borqs-technologies-to-develop-edge-ai-enabled-smart-watch-for-the-u-s-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Borqs Technologies To Develop Edge AI-enabled Smart Watch for the U.S. Market - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"The state-of-the-art smart watch chipset has sufficient computational power to enable machine learning and AI on the edge. The smart watch can facilitate everyday life for seniors with special demands for assisted living. The North America Smart Watch Market size is expected to grow from USD 39.75 billion in 2023 to USD 85.71 billion by 2028, at a CAGR of 16.61% during the forecast period (2023-2028). SANTA CLARA, Calif., July 17, 2023 (GLOBE NEWSWIRE) &#8212; \u00a0Borqs Technologies, Inc. (Nasdaq: BRQS, \u201cBorqs\u201d, or the \u201cCompany\u201d), a global provider of 5G wireless and Internet of Things (IoT) solutions, today announced its plans to develop an AI-enabled smart watch as part of its expansion strategy into artificial intelligence (AI) for the U.S. market. &hellip; Continue reading &quot;Borqs Technologies To Develop Edge AI-enabled Smart Watch for the U.S. Market&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/borqs-technologies-to-develop-edge-ai-enabled-smart-watch-for-the-u-s-market\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-17T16:19:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg3NTE1MiM1NjkzODk2IzIwOTE3OTM=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/borqs-technologies-to-develop-edge-ai-enabled-smart-watch-for-the-u-s-market\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/borqs-technologies-to-develop-edge-ai-enabled-smart-watch-for-the-u-s-market\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Borqs Technologies To Develop Edge AI-enabled Smart Watch for the U.S. Market\",\"datePublished\":\"2023-07-17T16:19:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/borqs-technologies-to-develop-edge-ai-enabled-smart-watch-for-the-u-s-market\\\/\"},\"wordCount\":952,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/borqs-technologies-to-develop-edge-ai-enabled-smart-watch-for-the-u-s-market\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODg3NTE1MiM1NjkzODk2IzIwOTE3OTM=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/borqs-technologies-to-develop-edge-ai-enabled-smart-watch-for-the-u-s-market\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/borqs-technologies-to-develop-edge-ai-enabled-smart-watch-for-the-u-s-market\\\/\",\"name\":\"Borqs Technologies To Develop Edge AI-enabled Smart Watch for the U.S. Market - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/borqs-technologies-to-develop-edge-ai-enabled-smart-watch-for-the-u-s-market\/","og_locale":"en_US","og_type":"article","og_title":"Borqs Technologies To Develop Edge AI-enabled Smart Watch for the U.S. Market - Market Newsdesk","og_description":"The state-of-the-art smart watch chipset has sufficient computational power to enable machine learning and AI on the edge. The smart watch can facilitate everyday life for seniors with special demands for assisted living. The North America Smart Watch Market size is expected to grow from USD 39.75 billion in 2023 to USD 85.71 billion by 2028, at a CAGR of 16.61% during the forecast period (2023-2028). SANTA CLARA, Calif., July 17, 2023 (GLOBE NEWSWIRE) &#8212; \u00a0Borqs Technologies, Inc. (Nasdaq: BRQS, \u201cBorqs\u201d, or the \u201cCompany\u201d), a global provider of 5G wireless and Internet of Things (IoT) solutions, today announced its plans to develop an AI-enabled smart watch as part of its expansion strategy into artificial intelligence (AI) for the U.S. market. &hellip; Continue reading \"Borqs Technologies To Develop Edge AI-enabled Smart Watch for the U.S. Market\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/borqs-technologies-to-develop-edge-ai-enabled-smart-watch-for-the-u-s-market\/","og_site_name":"Market Newsdesk","article_published_time":"2023-07-17T16:19:23+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg3NTE1MiM1NjkzODk2IzIwOTE3OTM=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/borqs-technologies-to-develop-edge-ai-enabled-smart-watch-for-the-u-s-market\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/borqs-technologies-to-develop-edge-ai-enabled-smart-watch-for-the-u-s-market\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Borqs Technologies To Develop Edge AI-enabled Smart Watch for the U.S. Market","datePublished":"2023-07-17T16:19:23+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/borqs-technologies-to-develop-edge-ai-enabled-smart-watch-for-the-u-s-market\/"},"wordCount":952,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/borqs-technologies-to-develop-edge-ai-enabled-smart-watch-for-the-u-s-market\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg3NTE1MiM1NjkzODk2IzIwOTE3OTM=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/borqs-technologies-to-develop-edge-ai-enabled-smart-watch-for-the-u-s-market\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/borqs-technologies-to-develop-edge-ai-enabled-smart-watch-for-the-u-s-market\/","name":"Borqs Technologies To Develop Edge AI-enabled Smart Watch for the U.S. Market - 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