Artificial intelligence can boost corporate profits by 38 percent by 2035, according to an Accenture report that gauges AI's economic impact across various industries. The report noted that AI could boost gross value added across 16 industries in 12 economies by about $14 trillion. Accenture's research team developed the report with Frontier Economics. When AI is integrated into the economy, growth rates can grow about 1.7 percent higher than the baseline. By industry, information and communication will get an AI growth rate boost of 4.8 percent by 2035, followed by manufacturing at 4.4 percent and financial services at 4.3 percent.

Accenture Report: Artificial Intelligence Has Potential to Increase Corporate Profitability in 16 Industries by an Average of 38 Percent by 2035 NEW YORK; June 21, 2017 – Businesses that successfully apply artificial intelligence (AI) could increase profitability by an average of 38 percent by 2035, according to a new report from Accenture (NYSE: ACN). The introduction of AI could lead to an economic boost of US$14 trillion in additional gross value added (GVA) across 16 industries in 12 economies. To capitalize on the opportunity, the report identifies eight key strategies for successfully implementing AI that focus on adopting a human-centric approach and taking bold and responsible steps to applying the technology within businesses and organizations. "Artificial intelligence will revolutionize how businesses compete and grow, representing an entirely new factor of production that can ignite corporate profitability," said Paul Daugherty, chief technology & innovation officer, Accenture. "To realize this significant opportunity, it's critical that businesses act now to develop strategies around AI that put people at the center, and commit to develop responsible AI systems that are aligned to moral and ethical values that will drive positive outcomes and empower people to do what they do best – imagine, create and innovate."

Stop being an "Observer" and become a "Collaborative Inventor" of the future. Companies with optimal Artificial Intelligence (AI) innovation strategies generate greater shareholder value, according to new research by Accenture. However, Accenture also found that despite these shareholder gains, only one fifth of leading companies that leverage Artificial Intelligence have achieved this performance in recent years. These companies, according to the report, have demonstrated high'AIQ' by combining strong in-house innovation and external collaboration. The research, however, only placed 17% of companies in the high performing bracket of collaboration and innovation, with a much larger 57% recognised as "Observers" and taking little action to collaborate and innovate in the AI space.

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? At Accenture, we believe the time to move on AI is now.

Today, leading businesses are using artificial intelligence (AI) to transform the core business – creating completely new revenue streams. So what are AI leaders doing that's different? And how can you learn from them to boost your AIQ?

Artificial intelligence (AI) isn't a new concept: It's been around for decades and has steadily marched forward. Today, many of the capabilities and features in computers, tablets and smartphones tap AI. The list includes things such as speech processing, image recognition and advanced analytics. But AI is now moving forward at a furious rate. Fueled by advances in cloud computing, mobility, the internet of things (IoT), and neural networks that use GPUs to conduct machine learning, AI is redefining virtually every industry and every discipline. A recent study conducted by consulting firm Tata Consultancy Services (TCS) found that 84 percent of companies are already using AI in some form or another.

The artificial intelligence market is still in its relatively early stages, but a player in the market has received a large amount of funding. Element AI, an AI company based in Montreal, announced Wednesday it had received $102 million in Series A funding. Element AI operates both as an incubator for AI development and as a consulting firm-like organization for companies that want to integrate AI applications into their day-to-day operations. The company, which was co-founded by noted machine learning researcher Yoshua Bengio, received its large funding round from firms and sources including Intel Capital and NVIDIA. The company, which was originally founded in October, plans to use the round to bolster its staff, internal development and potentially to invest in projects it helps to incubate.

More than a third of U.S. jobs could be at "high risk" of automation by the early 2030s, a percentage that's greater than in Britain, Germany and Japan, according to a report released Friday. The analysis, by accounting and consulting firm PwC, emphasized that its estimates are based on the anticipated capabilities of robotics and artificial intelligence, and that the pace and direction of technological progress are "uncertain." It said that in the U.S., 38% of jobs could be at risk of automation, compared with 30% in Britain, 35% in Germany and 21% in Japan. The main reason is not that the U.S. has more jobs in sectors that are universally ripe for automation, the report says; rather, it's that more U.S. jobs in certain sectors are potentially vulnerable than, say, British jobs in the same sectors. For example, the report says the financial and insurance sector has much higher possibility of automation in the U.S. than in Britain.

FaceApp is currently one of Australia's most popular apps, racking up over a million downloads in its first two weeks¹. You may have seen someone share its collages on a social feed: with various versions of their face as older, younger, the opposite sex, or more, shall we say, 'sparkly'. The app is one of the latest in a string of facial augmented reality experiences – such as Snapchat and Prisma – which allow users to manipulate reality by altering an image of their face. Users go on an immersive journey, exploring visuals to catch a glimpse of their possible selves. Facial manipulation apps use a form of artificial intelligence that automatically edits pictures to show possible selves.

RedCat Digital are working with a global consulting business who are building a new Artificial Intelligence Centre of Excellence in London to find a Principal Artificial Intelligence Architect to join the team. My client is a global leader in the world of consulting and technology, with over 165,000 employees serving clients in more than 50 countries. They are known as pioneers in the world of technology and consulting by delivering superior business value to some of the largest brands in the world. This role will sit in the brand new Artificial Intelligence (AI) Centre of Excellence in London. This group has been set up to further meet the needs of their clients and is a natural progression working alongside the Big Data Analytics practice. Their current requirement is for a Principal AI Architect to join the team in London.