Learn from the leaders. Media giant AMC Networks reveals how machine learning and a data-centric approach helps them build intelligent applications faster. Leading financial services company, USAA discusses how machine learning is a strategic initiative for their enterprise. Gain knowledge from the experts. Leading Silicon Valley analyst Jeremiah Owyang of Crowd Companies shares his experience from his industry leading innovation council, working with band-name companies on the path to business disruption. Hear from a special guest --- Garry Kasparov World renowned visionary, author and former World Chess Champion shares his thoughts on a future where intelligent machines help us turn our grandest dreams into reality.
The pace of change in digital technology is accelerating exponentially, particularly in the field of artificial intelligence (AI). All major technology companies are reorganizing around this red-hot sector, and it dominated discussions and presentations at the recent World Economic Forum 2017 in Davos. In this series, I will try to provide an overview of what constitutes AI, how it is already being applied to banking, insurance and capital markets today, and how organizations can craft a value-driven AI strategy. Why are we experiencing the current level of growth in the AI field? There are several factors: At Accenture, we believe the time to move on AI is now. Low barriers to entry for AI will accelerate the rate of competition. This trend coupled with the exponential growth of AI accelerates high-performing organizations and will leave the slow movers behind. We view AI as a collection of multiple technologies that enable machines to sense, comprehend and act--and learn--either on their own or to augment human activities. As a new factor of production, AI has the potential to introduce new sources of growth, changing how work is done and reinforcing the role of people to drive growth in business. The key is to comprehend AI as a capital–labor hybrid. AI can replicate labor activities at much greater scale and speed, and even perform some tasks beyond the capabilities of humans. AI can also take the form of physical capital, such as robots and intelligent machines. And unlike conventional capital, thanks to its self-learning capabilities, AI can actually improve over time. Today's definition of AI refers to multiple technologies that can be combined in different ways to: All three capabilities are underpinned by the ability to learn from experience and adapt over time. To learn more, take a look at Accenture's Top 5 Technology Trends 2017, and at how we envision AI to change the Future of Business.
This is a preview of a research report from BI Intelligence, Business Insider's premium research service. To learn more about BI Intelligence, click here. Artificial intelligence (AI) is one of the most commonly referenced terms by financial institutions (FIs) and payments firms when describing their vision for the future of financial services. AI can be applied in almost every area of financial services, but the combination of its potential and complexity has made AI a buzzword, and led to its inclusion in many descriptions of new software, solutions, and systems. This report from BI Intelligence, Business Insider's premium research service, cuts through the hype to offer an overview of different types of AI, and where they have potential applications within banking and payments. It also emphasizes which applications are most mature, provides recommendations of how FIs should approach using the technology, and offers examples of where FIs and payments firms are already leveraging AI. The report draws on executive interviews BI Intelligence conducted with leading financial services providers, such as Bank of America, Capital One, and Mastercard, as well as top AI vendors like Feedzai, Expert System, and Kasisto. Interested in getting the full report? Here are two ways to access it:
City jobs will be lost to automation earlier than those in the wider job market, new research reveals. The first wave of automation arriving in the next two to three years will hit financial and professional services hardest compared to other industries, according to the analysis of more than 200,0...
Seventy-three percent admit they'd be more excited about a new offering from Apple, Google or Amazon than from their own Financial Services Provider (FSP). Thirty-five percent of millennials don't even believe they'll need a bank five years from now. In a new age of intelligent, connected capabilit...
Artificial intelligence will continue to be buzzing in wealth management in 2018. But there's a short list of professionals who actually understand AI and can clearly explain how advisors and wealth management firms will benefit from it now and in the future. To help break it down, WealthMangement.com We asked Fritz to unpack AI in a way anyone in the industry can understand and even act on it. Prior to founding F2 Strategy, Fritz was the CTO for First Republic Private Wealth Management.
A chatbot is a computer program that uses natural language processing (NLP) and artificial intelligence to simulate human conversation and derive a response. Essentially, it's a machine that can chat with you or respond to your chatter. Chatbots can save time and money when used to handle simple, automated tasks. Bots were hot in 2017 but many bots are still primitive. These assistants incorporate more sophisticated NLP and deeper AI to infer a better response.
As digitization has revolutionized financial services, new online and mobile tools have made financial advice and planning services more accessible to everyone. Now, advances in artificial intelligence (AI) promise to deliver a second big bang to the wealth management universe, making it even easier for consumers to assess their financial health, make investing decisions and plan for long-term goals – on their own and in their own time. For financial institutions, advancements in machine learning and AI could create opportunities to expand customer relationships, deliver better advice and lower their costs. Using these capabilities to facilitate financial education is a good first step, followed by enhancing financial planning and monitoring customers' progress toward their goals. Already, the major players in wealth management are offering financial literacy content through their websites and have introduced robo-advisors to guide investing decisions.
Many of us hear the words artificial intelligence and immediately think about movies like I, Robot and Terminator with robo-humans taking over the world. AI is rarely the good guy. But how do we actually dig into the subsets of AI and figure out how to leverage this techno-hip phenomenon and use it to our advantage? I've outlined a few easy ways that marketers can leverage AI to make their work more effective, responsive and customized for their audience. Chatbots offer an easy way for clients to begin their online journey with you in a self-directed way without human assistance.