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A Guide to Real World AI & Machine Learning Use Cases

#artificialintelligence

This article looks at the ways in which firms across the various sectors of the economy adopt Artificial Intelligence (AI) techniques. However, before we review the sectors affected it is important to note the underlying drivers that are fuelling the growth in the influence and reach of Machine Learning across the sectors of the economy will only grow as we move forwards. This is because Big Data is only getting larger, velocity of data faster, plus the availability of cheaper data storage plus the arrival of powerful Graphical Processing Units (GPUs) to enable Deep Learning algorithms to be deployed. Furthermore, new research in areas of Deep Learning and other Machine Learning areas will continue to emerge into real world production over the next few years leading to new opportunities and applications. The DLS team strongly believe that the advent of 5G around 2021 will be a transformative and revolutionary moment in human history.


Future Vision & Direction of AI Part II: Scaling AI Whilst Preventing a Big Brother World & Solving The Curse of the Modern Data Scientist

#artificialintelligence

Venture Capitalists are hoping to find the next superstar tech unicorn, AI startup founders dreaming of creating the next unicorn, and corporates adopting AI need to consider their data growth strategy in order to be able to scale their AI-enabled services or products. The past decade has been one of explosive growth in digital data and AI capabilities across the digital media and e-commerce space. And it is no accident that the strongest AI capabilities reside in the Tech majors. The author argues that there will be no AI winter in the 2020s as there was in 1974 and 1987 as the internet (social media and e-commerce) are so dependent upon AI capabilities and so too with being the Metaverse, and the era of 5G enabled Edge Computing with the Internet of Things (IoT). Furthermore, the following infographics illustrate how many people globally use social media and hence how central these channels have become to the everyday lives of people. Likewise, the size of the e-commerce market is vast. Although the era of standalone 5G networks may enable a window of opportunity for a new wave of consumer-facing applications in the business to consumer (B2C) in relation to e-commerce and perhaps even new digital media platforms that may challenge the current incumbents, after all the arrival of 4G provided a window for the likes of Airbnb, Uber, and leading social media platforms such as Facebook, Instagram, etc. to scale.


Future Vision & Direction of AI Part II: Scaling AI Whilst Preventing a Big Brother World & Solving The Curse of the Modern Data Scientist

#artificialintelligence

Venture Capitalists are hoping to find the next superstar tech unicorn, AI startup founders dreaming of creating the next unicorn, and corporates adopting AI need to consider their data growth strategy in order to be able to scale their AI-enabled services or products. The past decade has been one of explosive growth in digital data and AI capabilities across the digital media and e-commerce space. And it is no accident that the strongest AI capabilities reside in the Tech majors. The author argues that there will be no AI winter in the 2020s as there was in 1974 and 1987 as the internet (social media and e-commerce) are so dependent upon AI capabilities and so too with being the Metaverse, and the era of 5G enabled Edge Computing with the Internet of Things (IoT). Furthermore, the following infographics illustrate how many people globally use social media and hence how central these channels have become to the everyday lives of people. Likewise, the size of the e-commerce market is vast. Although the era of standalone 5G networks may enable a window of opportunity for a new wave of consumer-facing applications in the business to consumer (B2C) in relation to e-commerce and perhaps even new digital media platforms that may challenge the current incumbents, after all the arrival of 4G provided a window for the likes of Airbnb, Uber, and leading social media platforms such as Facebook, Instagram, etc. to scale.


Applications of AI in FinTech, InsurTech & The Future with 5G

#artificialintelligence

Louis Columbus in 10 Ways AI Is Going To Improve Fintech In 2020 stated that "Bottom Line: AI & machine learning will improve Fintech in 2020 by increasing the accuracy and personalization of payment, lending, and insurance services while also helping to discover new borrower pools." Since that time the Covid-19 crisis and tragedy arose. On the one hand Paul Clarke noted that UK fintech investment slumps by 40% amid Covid-19 crisis, whilst on the other Deloitte in Beyond COVID-19: New opportunities for Fintech companies note that "As the COVID-19 pandemic continues to create uncertainty, many fintechs are under stress on a number of fronts. But, as the broader economy shifts from "respond" to "recover", new opportunities may be created for some fintechs. A key question is how fintechs may leverage their unique assets and skills to seize new opportunities in the future. It could be an opportune time to think big and act boldly." Pavrita R considered the impact of Covid-19 and noted in 5 U.S. FinTech startups reimagining the healthcare industry notes that FinTech is undoubtedly shaping the face of the Health Care industry. "FinTech companies leverage powerful innovations blockchain, Artificial Intelligence, and Machine Learning to eliminate the inefficiencies and knowledge gaps endemic to most healthcare payment plans." The likes of Nigel Wilson (@nigewillson) and Brian Ahier (@ahier) have stressed the importance to apply AI to positive use cases such as preventative medicine and improved Health Care outcomes. McKinsey in an article entitled AI-bank of the future: Can banks meet the AI challenge? " The potential for value creation is one of the largest across industries, as AI can potentially unlock $1 trillion of incremental value for banks, annually (Exhibit 1)." Source for image above: AI-bank of the future: Can banks meet the AI challenge? "While for many financial services firms, the use of AI is episodic and focused on specific use cases, an increasing number of banking leaders are taking a comprehensive approach to deploying advanced AI, and embedding it across the full lifecycle, from the front- to the back-office (Exhibit 2)" Source for image above: AI-bank of the future: Can banks meet the AI challenge? The Covid-19 crisis is a challenge both in terms of human health and also to the Fintech world.


Applications of AI in FinTech, InsurTech & The Future with 5G

#artificialintelligence

Louis Columbus in 10 Ways AI Is Going To Improve Fintech In 2020 stated that "Bottom Line: AI & machine learning will improve Fintech in 2020 by increasing the accuracy and personalization of payment, lending, and insurance services while also helping to discover new borrower pools." Since that time the Covid-19 crisis and tragedy arose. On the one hand Paul Clarke noted that UK fintech investment slumps by 40% amid Covid-19 crisis, whilst on the other Deloitte in Beyond COVID-19: New opportunities for Fintech companies note that "As the COVID-19 pandemic continues to create uncertainty, many fintechs are under stress on a number of fronts. But, as the broader economy shifts from "respond" to "recover", new opportunities may be created for some fintechs. A key question is how fintechs may leverage their unique assets and skills to seize new opportunities in the future. It could be an opportune time to think big and act boldly." Pavrita R considered the impact of Covid-19 and noted in 5 U.S. FinTech startups reimagining the healthcare industry notes that FinTech is undoubtedly shaping the face of the Health Care industry. "FinTech companies leverage powerful innovations blockchain, Artificial Intelligence, and Machine Learning to eliminate the inefficiencies and knowledge gaps endemic to most healthcare payment plans." The likes of Nigel Wilson (@nigewillson) and Brian Ahier (@ahier) have stressed the importance to apply AI to positive use cases such as preventative medicine and improved Health Care outcomes. McKinsey in an article entitled AI-bank of the future: Can banks meet the AI challenge? " The potential for value creation is one of the largest across industries, as AI can potentially unlock $1 trillion of incremental value for banks, annually (Exhibit 1)." Source for image above: AI-bank of the future: Can banks meet the AI challenge? "While for many financial services firms, the use of AI is episodic and focused on specific use cases, an increasing number of banking leaders are taking a comprehensive approach to deploying advanced AI, and embedding it across the full lifecycle, from the front- to the back-office (Exhibit 2)" Source for image above: AI-bank of the future: Can banks meet the AI challenge? The Covid-19 crisis is a challenge both in terms of human health and also to the Fintech world.