Mphasis, an information technology solutions provider specializing in cloud and cognitive services, announced that it has been granted a US patent for its artificial intelligence (AI) system for tracking, managing, and analyzing data from unstructured data sources. The newly issued patent – U.S. Patent No. 10,353929, relates to leveraging machine learning algorithms to analyze free text from a variety of communication channels including news and editorial articles, blogs, emails, consumer complaints, and social media. The patented system uses Natural Language Processing (NLP) algorithms to process the data in real-time. The patented algorithms have been integrated as part of Mphasis' NextLabs solutions such as HyperGrafTM, a comprehensive, feature-rich, business intelligence, and analytics solution, as well as DeepInsightsTM, a cognitive intelligence platform, which enables enterprises to gain faster and more effective access to insights from data. These solutions are some of Mphasis' latest offerings focusing on emerging paradigms of innovation such as artificial intelligence, machine learning, and deep learning.

With plenty of post-recession anti-banking sentiment still lingering, it's common to see fintech and traditional banks framed in oppositional terms. There's some truth to that, especially with disruption-minded digital-only banks, but technological innovations have transformed banking of all stripes -- and nowhere is that clearer than with artificial intelligence. AI has impacted every banking "office" -- front, middle and back. That means even if you know nothing about the way your financial institution uses, say, complex machine learning to fend off money launderers or sift through mountains of data for fraud-related anomalies, you've probably at least interacted with its customer service chatbot, which runs on AI. Read on to learn how else AI is transforming the way banks operate, from investment assistance and consumer lending to credit scoring, smart contracts and more.

YouTube and its parent company Google have been hit with a $170 million fine for violating a children's privacy law. Google came under fire after media reports revealed that its contractors listened to customer audio recordings captured by the company's virtual assistant this year. Now, Google wants to be more transparent with you about "how your data is used and why." The search giant released a blog post on Monday promising to do more to protect your privacy when using its Voice assistant, saying, "It's clear that we fell short of our high standards." The Google Assistant is available on Google Home speaker along with Android and iOS smartphones.

At least, it used to be. Visual information has been the cornerstone of how we discern fact from fiction, especially within our image driven culture. Of course, there are exceptions to this rule. After all, the world is rife with altered images, whether we're speaking about photoshopped models in advertisements or an animated dragon in the latest blockbuster. However, in most such scenarios we are generally not only capable of spotting what is false, but we expect it.

Enterprise AI service provider DataRobot has unveiled MLOps, a machine learning operations (MLOps) solution for deploying, monitoring, and managing machine learning models across the enterprise. MLOps combines DataRobot's existing model management and monitoring solution with capabilities from MLOps category leader ParallelM, which DataRobot acquired in June. DataRobot's new MLOps offering provides a centralised hub for deployment, monitoring, and governance of models created from a variety of tools. As a result, organisations will be able to cut the time it takes them to deploy and scale machine learning-based services in production. Despite the investments in data science teams and infrastructure, many companies have not been able to derive measurable value from AI projects.

Most of us are familiar with such blockbuster movie concepts perhaps best expressed by the early Terminator films which revolve around the notion of artificial intelligence (AI) "taking over" and ultimately wiping out humanity. While such movies are complete fiction, the dangers of AI are very real. And, if we listen to people such as Elon Musk and even Julian Assange, that danger is more urgent than even the most paranoid of us suspect. It is perhaps interesting that many who are critical of such claims of the need to regulate the spread of technologies around the planet usually have connections of one kind or another to the very big business that makes untold millions off the back of the sale, implementation and ultimate rolling out of such intelligence-based technologies. This tells us, does it not, that the collective interests of humanity is perhaps not at the top of the list of such big business corporations.

It's watching what the person is doing, what they look like when they're talking,

There's no better way of ensuring you win a race than by setting the rules yourself. That may be behind the recent rush by countries, international organizations, and companies to put forward their visions for how the AI race should be governed. China became the latest to release a set of "ethical standards" for the development of AI last month, which might raise eyebrows given the country's well-documented AI-powered state surveillance program and suspect approaches to privacy and human rights. But given the recent flurry of AI guidelines, it may well have been motivated by a desire not to be left out of the conversation. The previous week the OECD, backed by the US, released its own "guiding principles" for the industry, and in April the EU released "ethical guidelines."

Doing business in Sudan isn't easy, but back in 2011, it should have been possible. "We were working with major telecoms company Zain based out of southern Sudan at the time – before the country split in two," explains Charlie Tryon, chief executive of Maris, an investment holding company that operates across east and southern Africa. "Sudan was on the US's Office of Foreign Assets Control (OFAC) sanctions list, but the south was exempt, so it should have been OK for us to work here. We took out all the precautions we needed – did all the necessary paperwork, spoke to all the right people, told the banks, made sure we had permission from OFAC and notified all other regulatory bodies about our cross-border transaction – everything. "But the money we transferred from our business bank account to Zain was still stopped," he says. Tryon's transaction failed to pass compliance tests. In a bind, he was forced to physically move thousands of dollars from a bank account in Uganda to Sudan to pay his suppliers – at great personal risk. "We had suitcases full of cash that we took via plane and car into Sudan," says Tryon. "This isn't the ideal way to run a business, but at the time we had very little choice." A lot has changed since 2011. Know-your-customer and anti-money laundering (AML) screening is increasingly automated, helping to remove some of the delays caused by strict compliance measures. On top of this, banks, retailers, payment service providers (PSPs) and other businesses involved in the money transfer process are using artificial intelligence (AI) to make much more accurate decisions about payments. "At the time, we spent a huge amount of money and time trying to set this right," says Tryon. "It included international travel, lobbying, meetings with banks and regulators.

A detailed study accumulated to offer Latest insights about acute features of the LegalTech Artificial Intelligence market. The report contains different market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. The report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary and SWOT analysis. Legal technology, also known as Legal Tech, refers to the use of technology and software to provide legal services.