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.

A four-part look at how robots are changing the way we work. About 180 robots here are doing work that humans used to do at a GE Aviation plant that makes parts for jet engines. But they haven't replaced the humans. Indeed, the opposite is true. Since a new, automated section of the plant ramped up at the start of the decade, the number of people working here has risen to more than 900 from 600. "A machine is not replacing three jobs," said Eric Bouchard, senior operations manager at the Bromont plant.

Paid-search campaigns running on desktop and laptops are estimated to decline 3.7% to $14.7 billion by 2021, but the combined share of total Internet advertising held by wired and mobile search will be much higher -- at more than 50% of the total revenue, according to data released Wednesday. PwC's 18th annual Global Entertainment and Media Outlook 2017-2021 details the free fall of paid search delivered through fixed-line broadband and the rise of paid search on mobile devices. Paid-search advertising for desktop fell 34.4% to take 24.5%, or $17.8 billion, of total U.S. Internet advertising revenue in 2016. Google dominates in most global markets, but in the U.S. the company faces more competition, notably from Microsoft's Bing, according to the report. The integration of artificial intelligence (AI) to better anticipate users' search will become another area of focus in the next five years and make players like Apple more sophisticated in search.

Its main AI and HR analytics product is Cornerstone Insights, what CTO Mark Goldin called "machine learning in a box." The dispassionate analysis that AI brought to Expedia's recruiting practices can also be applied to performance management, which Holger Mueller, vice president and principal analyst at Constellation Research, considers talent management's core function -- and the part that's most broken. "The applications of AI basically are analytics applications, where the software is using history and algorithms and data to be smarter and smarter over time," Bersin explained. HR is a good target for AI because many HR practices are "handcrafted," cultural in nature and could be better at handling data, according to Josh Bersin, principal and founder of consulting firm Bersin by Deloitte.