In a survey conducted by Gurugram-based BML Munjal University (School of Law) in July 2020, it was found that about 42% of lawyers believed that in the next 3 to 5 years as much as 20% of regular, day-to-day legal works could be performed with technologies such as artificial intelligence. The survey also found that about 94% of law practitioners favoured research and analytics as to the most desirable skills in young lawyers. Earlier this year, Chief Justice of India SA Bobde, in no uncertain terms, underlined that the Indian judiciary must equip itself with incorporating artificial intelligence in its system, especially in dealing with document management and cases of repetitive nature. With more industries and professional sectors embracing AI and data analytics, the legal industry, albeit in a limited way, is no exception. According to the 2020 report of the National Judicial Data Grid, over the last decade, 3.7 million cases were pending across various courts in India, including high courts, district and taluka courts.
New Delhi, September 10, 2020: As part of its ongoing efforts to promote skilling as a national priority, NASSCOM FutureSkills and Microsoft have joined hands to launch a nation-wide AI skilling initiative. The initiative aims to skill 1 million students in AI by 2021. The collaboration will provide Microsoft's AI, machine learning and data science expertise to students through easy to consume modules including live demos, hands on workshops and assignments. These introductory sessions on AI will be available for undergraduate students at no cost and will cover the basics of data science, machine learning models on Azure, and understanding of cognitive services to build intelligent solutions. The partnership with NASSCOM FutureSkills is an extension of Microsoft's global skilling initiative to help 25 million people worldwide acquire new digital skills, needed to thrive in a digital economy.
Artificial intelligence has become a technological buzzword, often solely referred to AI rather than depicting the possibly infinite amount of practical applications that artificial intelligence can actually provide, or the intricacies involved from industry to industry, and region to region. To discuss some of the many applications for artificial intelligence, as well as some of the considerations to be taken into account to create more accurate and less biased machine learning systems, I had the pleasure of speaking with Nitendra Rajput, VP and Head of Mastercard's AI Garage. Nitendra Rajput is the Vice President and Head of Mastercard's AI Garage, setting up the centre to enable it to solve problems across various business verticals globally with machine learning processes, increasing efficiencies across the business as well as mitigating instances of fraud. Nitendra has over 20 years experience working in the fields artificial intelligence, machine learning, and mobile interactions, after realising a gap in the market for developing speech recognition systems for vocally-led countries, such as India. Prior to Mastercard's AI Garage, he spent 18 years at IBM Research, working on different aspects of machine learning, human-computer interaction, software engineering and mobile sensing.
In the history of human civilization, Artificial Intelligence is considered to be the next giant technological leap similar to electricity and the internet. With AI possessing the power to radically transform the economic and social fabric of the world we live in, it's time to ask, how can we use AI responsibly for the good of humanity and for inclusive socio-economic development? The Responsible AI for Social Empowerment (RAISE 2020) virtual summit will be a Global Artificial Intelligence summit to be organized by the Government of India in partnership with Industry & Academia. It will be inaugurated by the Hon'ble Prime Minister Shri Narendra Modi on October 5, 2020 at 7 PM. The summit would be a global meeting of minds to exchange ideas and charter a course to use AI for social empowerment, inclusion, and transformation in key areas like Healthcare, Agriculture, Education and Smart Mobility amongst other sectors.
The government of India has recognized the potential of AI to boost the country's GDP with $957 billion by 2035. With this in mind, the Ministry of Communication and Information Technology (MeitY) is working on the national strategy on artificial intelligence. Union Minister Rao Inderjit Singh said the draft cabinet note on implementation of national strategy on AI is being steered by MeitY and the same is under examination. Singh also stated that NITI Aayog had released India's National Strategy for Artificial Intelligence (NSAI) in June 2018. It outlined the proposed efforts in research, development, adoption and skilling in AI.
You have most probably heard of AI or artificial intelligence. You hear it being used as a theme in movies like "The Terminator" and other stories set in a technologically-advanced world, you read it on books and you even see it on the branding of several products such as smartphones. There is what is called "AI photography," "AI gaming," and a lot of other things branded as "AI." Even in gaming, AI is plastered all over, In the world of online gambling, the top online betting apps such as Betway India make use of "AI" to run their betting apps without the need to be manually controlled by a human. However, are the things that people call AI nowadays really what AI is? Are these things really what makes AI intelligent? What is AI, and how does it work?
The excitement of using Artificial Intelligence has not dwindled from the time it has been unfolded. In KPMG study on “living in the AI world 2020: achievements and challenges of AI across 5 industries (retail, financial service, healthcare, transportation, and technology), revealed that 92% of respondents agreed that leveraging the spectrum of AI technologies will make their companies run more efficiently. Amidst the admiration towards AI, IBM created the Women Leaders in AI program in 2019. This was a way to acknowledge the women leading in AI and encourage females to lend a hand in the field of AI. Through this IBM, planned to make the efforts of the honourees more visible to the world. 2020 IBM women leaders were honoured for outstanding leadership in the AI space. Here is the list of women leaders in AI 2020 honorees:- Aarthi Fernandez Who is a Global head of Trade Operations and SEA Trade COO at Standard Chartered Bank? She is a C-suite executive with deep insight on how digitalization can positively disrupt US$17 trillion global trade. She is into deploying AI/Machine learning to make trade financing simple, faster, and better for corporate clients and mitigate compliance risk. Piera Valeria Cordaro She is a commercial Operations Innovation Manager, Wing Tre S.p.A., Italy. She is a speaker, advocating the use of AI in customer operations. Along with her team and with support by IBM Watson, implemented two chatbots, to improve customer experience. Both bots have made it possible to handle a million queries efficiently. Amala Duggirala Who is the enterprise Chief operation and Technology officer, Regions Bank, United States. To handle customers’ inquiries she deployed IBM Watson’s assistant- virtual banker persona, ”Reggie”. From the time of its implementation 4.3 million customer calls have been answered, with 22% of them being handled by AI. Mara Reiff Vice President, Strategy and Business Intelligence, Beli Canada, Canada. She used AI to improve operations, loyalty, and brand. She worked with IBM to install Watson studio Local using Red Hat open shift. This resulted in smarter, fast decision-making with improved customer experience leading to increased sales. Mara suggests everybody to “Make sure to stop and smell the roses. Take each opportunity to learn something new and embrace change”. Amy Shreve- McDonald She is lead Product Marketing Manager for Business Digital experience, AI&T, USA. EVA (Enterprise Virtual Agent) was launched in February 2019, to improve customer chat experience, it uses Watson assistant. This system has been able to handle 45% chats on its own, resulting in reduced costs and expanding 24/7 support. She also received AT&T’s 2019 Visionary Award for her work advocating EVA. Ryoko Miyashita Manager, customer service department, customer service section JACCS CO., LTD Japan. She launched a Watson-enabled operator onboarding tool, that resulted in reduced new operator training period by 30%. The tool has increase customer satisfaction. Her advice to the younger self is “It is important to believe in yourself, but it is equally or more important to believe in people around you. I would encourage myself to have many experiences and garner knowledge to objectively evaluate things, not blindly accept or exclude others’ opinions”. Carol Chen She is Vice President for Global Marketing, Global Commercial, Royal Dutch Shell, United Kingdom. Along with her team, Carol is partnering is planning for digital transformation with the creation of “Oren”- a Smart Minning Platform, by partnering with IBM. This platform will offer an innovative and creative experience for users in the sector to deliver connectivity and integration across the ecosystem. To use AI, she advice commencing with analyzing the business outcome that one wants and customer pain points that one can cater to. The next step would be to determine how to leverage AI and data to solve the problem. Rosa Martinez Cognitive Project Manager, CiaxaBank, Spain. For those who consider using AI, her advice to them is ‘first to understand the business case as it may take time more than expected. This phase can result in a non-AI project example a ‘software as usual’. But moving further with the project there can be more AI application for sure to work on’. Lee- Lim Sok Know Deputy Principal, Temasek Polytechnic, Singapore. Under the leadership of Sok Keow, The higher education institution in Singapore ‘Temasek Polytechnic’ launched the “Ask TP” chatbot in January 2018. The chatbot helped current as well as prospective students to get answers to the questions asked about Temasek and also gave personalized course advice. In the 1st two weeks of 2020, ‘Ask’ TP’ responded to more than4,351 questions. She suggests everybody “deeply appreciate ‘people’ as they are the most critical asset in an organization, and a leader must develop a team”. Itumeleng Monale Executive Head of Enterprise Information Management Personal and Business Banking, Standard Bank of South Africa, South Africa. By deploying many analytical tools in her organization, she can uplift the revenue of the company. Through models of analytics relationships, bankers are experiencing a 40% revenue uplift when comparing to their peers. She sees AI as a tool through which business delivery can be accelerated, value could be added to human capital and relationships can build further. With this AI era, Research has postulated that corporate giants still have less percentage of women in the technical department. Facebook’s diversity report suggests that there are 22 % of women in the technical department and 15 per cent of women work in the AI research group. Similarly, Google’s diversity report suggests that only 10% women are working on “machine intelligence”. There is a need to encourage women participation as there are many more women around the world, stepping out of the pre-existed sheathe and going beyond the walls to shape the future. Opening up the AI platform for all will fetch us more talented beings which can help us celebrate the use of AI in different fields and different ways. Reference:- https://www.ibm.com/watson/women-leaders-in-ai/2020-list https://advisory.kpmg.us/content/dam/advisory/en/pdfs/2020/technology-living-in-an-ai-world.pdf About the author:- Kirti Kumar is a budding HR professional currently pursuing PGDM in HR and Marketing at New Delhi Institue of Management. She looks forward to opportunities that can hone her skills. She is agile in her attitude with versatility in her action
As part of the peer learning series, Quantum Computing India had a session on Quantum Machine Learning 102 -- QSVM hosted by me. In the end, you will find full video link. Here in the GIF we can see that it is a binary classification, and the dimension so the dataset is also less, hence it could be easily classified in 3D plane. But Once we go to multiclassification dataset and higher dimensionality our classical SVM will behave like this . Thus here, Quantum Machine Learning comes in to solve this problem but leveraging its property of Entanglement and Superposition and enabling parallel computing.
Artificial Intelligence and Machine Learning (AI & ML) and Sentiment Analysis are said to "predict the future through analysing the past" – the Holy Grail of the finance sector. They can replicate cognitive decisions made by humans yet avoid the behavioural biases inherent in humans. Processing news data and social media data and classifying (market) sentiment and how it impacts Financial Markets is a growing area of research. The field has recently progressed further with many new "alternative" data sources, such as email receipts, credit/debit card transactions, weather, geo-location, satellite data, Twitter, Micro-blogs and search engine results. AI & ML are gaining adoption in the financial services industry especially in the context of compliance, investment decisions and risk management.