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Visualizing the Massive $15.7 Trillion Impact of AI

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For the people most immersed in the tech sector, it's hard to think of a more controversial topic than the ultimate impact of artificial intelligence (AI) on society. By eventually empowering machines with a level of superintelligence, there are many different possible outcomes ranging from Kurzweil's technological singularity to the more dire predictions popularized by Elon Musk. Despite this wide gap in potential outcomes, most technologists do agree on one thing: AI will have a profound impact on the society and the way we do business. Today's infographic comes from the Extraordinary Future 2017, a new conference in Vancouver, BC that focuses on emerging technologies such as AI, autonomous vehicles, fintech, and blockchain tech. In the below infographic, we look recent projections from PwC and Accenture regarding AI's economic impact, as well as the industries and countries that will be the most profoundly affected. According to PwC's most recent report on the topic, the impact of artificial intelligence (AI) will be transformative.


Artificial intelligence to become main way banks interact with customers within 3 years: Accenture

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LONDON: Artificial intelligence (AI) will become the primary way banks interact with their customers within the next three years, according to three quarters of bankers surveyed by consultancy Accenture in a new report. Four in five bankers believe AI will "revolutionise" the way in which banks gather information as well as how they interact with their clients, said the Accenture Banking Technology Vision 2017 report, which surveyed more than 600 top bankers and also consulted tech industry experts and academics. Artificial intelligence -- the technology behind driverless cars, drones and voice-recognition software -- is seen by the financial world as a key technology which, along with other "fintech" innovations such as blockchain, will change the face of banking in the coming years. More than three-quarters of respondents to the survey believed that AI would enable more simple user interfaces, which would help banks create a more human-like customer experience. "The big paradox here is that people think technology will lead to banking becoming more and more automated and less and less personalised, but what we've seen coming through here is the view that technology will actually help banking become a lot more personalised," said Alan McIntyre, head of the Accenture's banking practice and co-author of the report. "(It) will give people the impression that the bank knows them a lot better, and in many ways it will take banking back to the feeling that people had when there were more human interactions."


Technology Investment Still a Gamble for Executives and Boards: A Q&A With PwC's Paula Loop - Financial Executives International Daily

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Incorporating emerging technologies into the strategic plan can still feel like a big risk. Emerging technologies such as artificial intelligence, blockchain and robotics are transforming today's companies but many board members and directors have little understanding on what the technologies are โ€“ much less how to navigate and lead effectively with them in mind. A recent article from PwC's Governance Insights Center outlines the "Essential Eight" technologies directors should be aware of and offers the imperatives board members must embrace in the face of these emerging trends. FEI Daily spoke with Paula Loop, a leader for PwC's Governance Insights Center about the steps directors and finance executives can take to tackle emerging technologies and become more involved in company strategy. FEI Daily: How can financial executives support their boards in making strategic decisions around digital tech investment?


For AI to Succeed in Germany, Think Robots - eMarketer

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A June 2017 study by PricewaterhouseCoopers (PwC) found relatively low current or anticipated use of virtual assistants--such as Amazon's Alexa and Apple's Siri--among Germany's internet users. But a new report by PwC has revealed that internet users in the country are much more interested in other artificial intelligence (AI) applications. PwC polling in July found 85% of adult internet users in Germany had used or would like to use AI in some capacity. Those polled were most interested in using AI in the form of robots. The study found 58% of respondents were using or interested in having an AI-powered robot to clean their home.


Improving claims outcomes with artificial intelligence (AI) - Accenture Insurance Blog

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Responsible for the moment of truth in the customer-insurer relationship, the claims function has much to gain from AI. By layering these capabilities on top of each other, insurers can enable better outcomes, faster service and a better customer experience. Crucially, by using AI, claims leaders can empower and equip adjusters to add the valuable human touch to the claims process. However, that also means retraining and educating workers so they are equipped for new roles in which customer service is paramount. As outlined in the Accenture Technology Vision for Insurance 2017 report, AI isn't just relegated to back-office functions.


AI projects are taking off: What does this mean for the future of work? ZDNet

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The robots are coming and the world of work is set to change forever: recent research from consultants PWC estimates a third of existing jobs are susceptible to automation, due to the use of robots and artificial intelligence (AI) by 2030. The survey adds more weight to a fast-growing body of work on the impact of AI. Take KPMG's recent global CIO survey in conjunction with recruiter Harvey Nash, which found almost two-thirds of CIOs are investing or planning to invest in digital labour, which broadly covers robotics, automation, and artificial intelligence. A quarter of these technology chiefs have already see very effective results. The survey suggests digital leaders are investing in digital labour at four times the rate of other executives.


Beware! The AI Machines Are Coming For Your Job

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Industry consultants may soon face a new kind of competition: artificial intelligence. AI is already replacing menial tasks in retail and manufacturing. Other fields such as finance, marketing, and human resource management are increasingly finding use of AI-based solutions for achieving faster results and more accurate analysis. High-profile consultancies too may start to feel the heat soon. Technology vendors are developing AI frameworks from Microsoft and Google to automate tasks usually executed by consulting firms.


The State of Contingent Workforce Management 2017-2018

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This year's survey aims to define the current market trends around the concept of "work," including the impact of the Gig Economy, the extent to which specific technologies pave the road for the Future of Work, and the performance, strategies, and capabilities within today's contingent workforce management (CWM) programs. For the purposes of this research study, "non-employee" talent includes temporary workers (sourced via staffing suppliers), freelancers, independent contractors, robotics, professional services, and "gig" workers.


Cloudera

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Thomas Dinsmore is the Director of Product Marketing for Data Science at Cloudera. Previously, as an independent consultant, he provided machine learning market insight to private clients seeking intelligence about the machine learning marketplace. Before launching his consultancy in 2015, he served as an analytics expert for The Boston Consulting Group; Director of Product Management for Revolution Analytics (Microsoft); Solution Architect for IBM Big Data, SAS and PriceWaterhouseCoopers. In a thirty-year career, he has led or contributed to analytic solutions for more than five hundred clients across vertical markets and around the world. Thomas holds an MBA in Accounting and Decision Sciences from the University of Pennsylvania - The Wharton School and a BA from Boston University.


Artificial Intelligence Accenture

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