General Electric Co. (GE) - Get Free Report has begun testing the use of drones and robots to inspect factories and refineries in situations that could prove to be dangerous for human inspection, Reuters reported.
GE formed the startup Avitas Systems to cultivate technology that will combine computer analytics and AI with the company's knowledge of the industrial facilities that it builds.
"We know this equipment very well so we can program the robots, regardless of type, to gather the information we need for an inspection," Alex Tepper, head of development at Avitas told Reuters.
News came a day after GE said long-time CEO Jeff Immelt is stepping down.
What's Hot on TheStreet
Nvidia underwent a "key reversal" on Friday that could send the stock plunging another 36%, BMO technical analyst Russ Visch said in a new note. Visch points out that normally, these pullbacks tend to lead to the stock falling back to its 200-day moving average. In the case of Nvidia, the 200-day moving average is $96.70, or $36% below Monday's closing price of $149.97. "Considerable downside risk exists here," said Visch.
On Friday, shares of Nvidia were off to another big rally, hitting new all-time highs of $168.50 following an analyst pontificating the stock could surge to $300. But the party abruptly ended Friday afternoon and continued into most of Monday's trading session. The reversal in one of the hottest tech stocks around spooked the market, pressuring shares of other high-flyers in the space such as Amazon (AMZN) - Get Free Report and Apple (AAPL) - Get Free Report .
Apple and innovation: The reality of the here and now is that the public and would-be buyers of Apple's stock harbor greater doubts about Apple's ability to innovate than in many years, reportsTheStreet. Apple did nothing to quiet those concerns by introducing its new voice activated speaker, sources explained to TheStreet.
Read More Trending Articles:
- Tesla Could Have a Near Monopoly That Sends Its Stock Up Another 30%, Says Firm
- There Are Two Possibilities Right Now, One Being a Stock Market Correction: Market Recon
- This Is What You Should Do Now That Apple, Facebook and Netflix Took a Huge Hit
- Apple Is a Very Strong Brand, and Jim Cramer Is Sticking With the Stock: Mad Money
- Stocks See Solid Rebound After a Two-Day Tech Slump