Chatbots and AI--what makes them so engaging? How can banks and FIs utilize bots to improve the relationship with consumers, while driving engagement? This was the penultimate question during the Bank Innovation Twitter Chat today. We've summarized some of the best responses, and most intriguing questions, below. Experts weighed in on what the ideal finance chatbot would offer to consumers.

Chatbots, AI and Machine Learning pave a new domain of possibilities in the Fashion industry, from Data Analytics to Fashion Chatbot as your personal stylists. Chatbots, the automated and smart contextual messaging systems are all in trend from Facebook's annual developers conference, that will allow developer's to develop bots on messengers. With time chatbots are proving to be the future of commerce and the next generation of user interface. Chatbots are entering almost every customer service oriented industries like E-commerce, Healthcare, Travel and Hospitality, Fashion and where not. Chatbots help brand's customers to have a flawless experience.

Robots are getting smarter, and, if you listen to high-ranking digital execs at Coca-Cola and other major brands, they're coming for your advertising jobs. No one knows that better than the tech geeks at Team One's newly launched AI Lab, who are vowing to stay ahead of the machine-learning curve by surrounding themselves with all things futuristic in a stylish nook of the agency's cavernous Playa Vista, Calif., headquarters. The lab, a scaled-down re-creation of a smart home designed to look like a midcentury modern crash pad, is outfitted with Google Home, Amazon Echo, Philips Hue and a trunk full of cognitive toys. "It's a dedicated space to experiment and brainstorm," said Alastair Green, executive creative director, digital, who launched the agency's tricked-out, gadget-heavy VR Lab onsite last year. "We want to spark ideas and create better work with AI. And to answer the brands' question: 'What's the business case for it?'"

LONDON: Artificial intelligence, regarded as "essential" to competitiveness, will have a dramatic impact on businesses by 2020, according to a study by India's leading IT services provider Tata Consultancy services. Focused on the current and future impact of Artificial Intelligence (AI), the seventh Global Trends Study, concluded in June last year, polled 835 leading executives across 13 global industry sectors in four regions of the world, finding that 84 per cent of the companies see the use of AI as "essential" to competitiveness, with a further 50 per cent seeing the technology as "transformative". Exploring the views and actions of decision makers from global companies with average revenues of USD 20 billion, the study revealed AI is spreading across almost all areas of a company. The biggest adopters of AI today are, not surprisingly, IT departments, with two-thirds (67 per cent) of survey respondents using AI to detect security intrusions, user issues and deliver automation. However, by 2020, almost a third (32 per cent) of companies believe AI's greatest impact will be in sales, marketing or customer service, while one in five (20 per cent) see AI's impact being largest in non-customer facing corporate functions, including finance, strategic planning, corporate development, and HR.

Researchers studying a deal in which Google's artificial intelligence subsidiary, DeepMind, acquired access to millions of sensitive NHS patient records have warned that more must be done to regulate data transfers from public bodies to private firms. The academic study says that "inexcusable" mistakes were made when, in 2015, the Royal Free NHS Foundation Trust in London signed an agreement with Google DeepMind. This allowed the British AI firm to access sensitive information about 1.6 million patients who use the Trust's hospitals each year. The access was used to create monitoring software for mobile devices, called Streams, which promises to improve clinicians' ability to support patients with Acute Kidney Injury (AKI). But according to the study's authors, the purposes stated in the agreement were far less specific, and made more open-ended references to using data to improve services.

Advancement in computers and technology have been incredibly positive for music creators around the globe. You can learn how to produce music on YouTube, purchase the same sample libraries as your favorite composers and create epic scores from your laptop, anywhere in the world. As a result, there are more music producers than ever. Computers helping humans create original music has become today's standard, but there are several companies looking to turn the tables on this process. Computer-generated songs are a fast-growing sector of the industry, looking to disrupt creation, licensing and access for musicians and non-musicians alike.

The revenue for artificial intelligence is expected to grow by 92% this year alone. How far have businesses come? Which visions are becoming reality?

The classic example of "crowd wisdom" dates back to 1906, when Sir Francis Galton observed a contest in which attendees were asked to guess the weight of an ox at a country fair in England. In what many consider to be the first experiment on crowd wisdom, the average of the 800 guesses was within one pound of being correct. Consider that these kinds of experiments can now be done digitally – across cultures and time zones and fairly instantaneously. The classic experiment was reenacted recently with a digital crowd when a photo of a cow was posted online and viewers were invited to guess her weight. More than 17,000 votes were cast and the average guess was within 5 percent of being accurate.

As part of its projects with Britain's National Health Service, Google's artificial intelligence unit DeepMind announced last week it's developing a new way to protect confidential health data--from itself. Its problem: How to assure hospitals, and the public at large, that patient confidentiality isn't compromised as it processes the sensitive medical health records entrusted to it. DeepMind's proposed solution is to create an indelible data log that can't be tampered with. It would show when a piece of data was used, and for what purpose. Importantly, DeepMind itself wouldn't be able to modify logs to use the data nefariously.

Big Data is a term that has been around for some time now but there is still confusion about what it actually is. The concept is continuing to evolve and to be reconsidered, as it remains the driving force behind many ongoing waves of digital transformation, including artificial intelligence, data science and the Internet of Things (IoT). With that in mind I thought it was time to write a beginner's guide to what Big Data means in 2017. In a similar way to my beginner's guides to Blockchain and FinTech, this will be jargon-free and aims to explain the core concepts and ideas to anyone regardless of background knowledge. It all starts with the exponential explosion in the amount of data we have generated since the dawn of the digital age.