Should Banking Build an Internet of Things (IoT) Strategy?

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In developing my keynote presentation for a Next Money event in Hong Kong around the future of banking and contextual commerce, I analyzed if the banking industry is prepared to embrace the Internet of Things ecosystem. New technologies, digital devices and the pace of innovation are impacting the banking industry's operating models and influencing the banking ecosystem. The most prominent of these innovations include cloud computing, big data analytics, artificial intelligence and machine learning, robotic process automation, blockchain and the Internet of Things (IoT). Many of these technologies are interrelated. The world of IoT is a network of Internet-connected sensors that can be embedded into physical devices that collect data and share it across the web with people, applications and other devices.


Should Banking Build an Internet of Things (IoT) Strategy?

#artificialintelligence

Banking providers need to be prepared to respond to an increasing array of Internet of Things (IoT) opportunities, especially in the payments space. New technologies, digital devices and the pace of innovation are impacting the banking industry's operating models and influencing the banking ecosystem. The most prominent of these innovations include cloud computing, big data analytics, artificial intelligence and machine learning, robotic process automation, blockchain and the Internet of Things (IoT). Many of these technologies are interrelated. The world of IoT is a network of Internet-connected sensors that can be embedded into physical devices that collect data and share it across the web with people, applications and other devices.


Asia's Artificial Intelligence Agenda. MIT Technology Review

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The reality will lie between these two extremes. Based on research gathered from surveying Asian business leaders and human resources and AI professionals, this report argues that AI's future will cleave much more closely to the positive outcome. Moreover, this future appears to be approaching quickly: advances in deep learning and the rapid expansion of process automation in such diverse sectors as manufacturing, transportation, and financial services mean that AI's impact is growing exponentially with each passing year. Decision makers in all organizations must now begin to understand how AI will alter their own operational processes and those of suppliers, partners, and customers. Asia's business landscape is poised not only to benefit greatly from AI's rise, but also to define it.


Artificial Intelligence Will Make Its Mark Within Next 3 Years

Forbes Technology

Artificial intelligence (AI) is currently a technology still percolating in the depths of IT departments and the fever dreams of industry pundits, but it may only be a matter of a couple of years that it bursts across many day-to-day business processes. That is one of the key takeaways from a recent survey of 835 executives from Tata Consultancy Services (TCS). The survey shows 84% see the use of AI as "essential" to competitiveness, and half see the technology as "transformative." But for now, it's still only in widespread use among a handful of practitioners -- eight percent of executives use AI mainly as a workhorse for IT departments, mainly to detect security intrusions, user issues and deliver automation. AI will move beyond its IT origins to illuminate new ways to do business.


Artificial intelligence will make its mark within next 3 years

#artificialintelligence

That is one of the key takeaways from a recent survey of 835 executives from Tata Consultancy Services (TCS). The survey shows 84% see the use of AI as "essential" to competitiveness, and half see the technology as "transformative." But for now, it's still only in widespread use among a handful of practitioners -- eight percent of executives use AI mainly as a workhorse for IT departments, mainly to detect security intrusions, user issues and deliver automation. Looking into the near future, everyone expects a lot out of AI. At least 32% of executives believe that by 2020, AI will be helping to guide their sales, marketing or customer service functions.