The better the construction site's real-time safety and security monitoring, the more flexible ... [ ] construction processes become. Bottom Line: AI and machine learning are reducing construction site accidents, theft, vandalism and hazardous operating conditions by analyzing 24/7 video feeds in real-time, gaining new predictive insights and contextual intelligence into threats. According to the National Equipment Register, construction theft losses often exceed $1B a year. The latest model equipment, tools and supplies are the most stolen and the least likely to recover. Only 25% of stolen construction equipment is recovered.
AI applications are transforming business operations and processes in the power sector as well as the broader economy, leading to greater cost savings, increased efficiency and new services for consumers. But further developments rely on the ability to foster and support innovation, addressing outstanding matters related to investments, data access and governance, as well as ethics. By 2025, 81% of the energy companies will have adopted artificial intelligence, reaping the numerous benefits of accelerated developments in this field and fast tracking the clean energy transition. This is according to an assessment released by Eurelectric, AI Insights: The Power Sector in a Post-Digital Age. First, AI can enable a faster decarbonisation of the power sector.
The vehicles manufactured by Volvo Trucks keep getting smarter. More than 350,000 Volvo rigs crossing North American highways each day are outfitted with IoT sensors that monitor conditions and send data for troubleshooting and analysis. Embedded telematics allow for over-the-air updates to engine software. The on-board technology, combined with a back-end analytics platform, enables Volvo Trucks to process millions of data records instantaneously. Using IoT and artificial intelligence, Volvo Trucks has been able to reduce diagnostic time by 70% and truck repair time by 25%.
In the news this week: A bevy of partnerships to bring artificial intelligence (AI) and machine learning (ML) to medical applications, and more. Keeping pace with news and developments in the real-time analytics market can be a daunting task. We want to help by providing a summary of some of the items our staff came across each week. The use of artificial intelligence (AI) and machine learning (ML) in healthcare and medical diagnosis is perhaps one of the most promising applications of the technology for the public good. Frequently, the main inhibitor to the use of AI in these fields is the lack of internal familiarity with the technology.
Edge computing presents organizations with a significant leap in business opportunity. Much has been written about the benefits of the Internet of Things (IoT), but it is now clear that these benefits can only be truly realized with Edge computing. Limiting your organization to only adopting central cloud computing simply won't support your future IoT needs. Today, every organization needs to be a digital organization, powered by data, running in a multi-cloud world. Recognizing that multi-cloud actually begins at the point of data creation – the Edge – the value in the future is in combining Edge computing with IoT.
The future of planning is connected, intelligent, and continuous. Yet many companies remain so far away from this vision; it often seems unachievable. With many planning processes being so siloed and disconnected from execution, they can feel ineffective. Fortunately, evaluations of the planning landscape reveal many organizations are adopting technologies that move towards a de-siloed, network-based approach to planning. To optimize planning capabilities, it crucial to achieve this connection at the enterprise level as well as into the broader supply network.
A material that mimics human skin in strength, stretchability and sensitivity could be used to collect biological data in real time. Electronic skin, or e-skin, may play an important role in next-generation prosthetics, personalized medicine, soft robotics and artificial intelligence. "The ideal e-skin will mimic the many natural functions of human skin, such as sensing temperature and touch, accurately and in real time," says KAUST postdoc Yichen Cai. However, making suitably flexible electronics that can perform such delicate tasks while also enduring the bumps and scrapes of everyday life is challenging, and each material involved must be carefully engineered. Most e-skins are made by layering an active nanomaterial (the sensor) on a stretchy surface that attaches to human skin.
Businesses across all sectors are taking a keen interest in the potential of artificial intelligence (AI) to address its most pressing challenges. AI is already known for its ability to speed up processes, streamline operations, and of course to crunch vast quantities of data faster than a human ever could. But when it comes to systems that can think for themselves? This reality is closer than you might think. Cognitive AI assimilates data from multiple sources, in different formats, and is able to weigh up these data to form insights.
Vanessa Colella is Citi's chief innovation officer and leads the Citi Ventures and Citi Productivity teams. Colella's goal is to accelerate and discover new sources of value by championing innovation so that Citi can compete more effectively in a world of technological, behavioral, and societal change. The Citi Ventures team drives innovation by exploring, incubating, and investing in new ideas and partnering with category-defining startups to help people, business and communities thrive. The Citi Productivity team works to transform the employee experience by leveraging the power of process simplification, operating model redesign, and new technologies to help Citi increase efficiency and effectiveness. Before assuming the role of Chief Innovation Officer, Colella led venture investing and D10X for Citi Ventures, and previously ran marketing for Citi's North American Consumer Bank.
The emerging field of artificial intelligence can help countries improve their food security, especially in places like Qatar that import majority of their food products from outside, according to Dr. Tareq Al-Ansari, Assistant Professor at Hamad Bin Khalifa University's College of Science and Engineering. "While Qatar has significantly ramped up its production of vegetables, meat, and dairy products, a large percentage of our food products are still being imported. The availability and stability of food supply are still of particular concern. Therefore, it's important to develop data-driven strategies to secure multiple sources from where food is acquired through robust and diversified supply chains," said Dr. Al-Ansari, whose research focuses on the water-energy-food nexus and sustainable development. "There is a need for informed, insightful, and pre-emptive decision-making processes in the field of food security, and we strongly believe artificial intelligence (AI) can enable this and play an important role for a more sustainable and resilient future in the local food sector."