The Lockheed Corp. (Calabasas, CA) and AT&T (New York, NY) have signed an agreement to jointly develop and market intelligent transportation systems. The two companies are responding to the Intermodal Surface Transportation Act of 1991, which calls for enhancing roadway capacity, safety, efficiency, and air quality through the development of intelligent vehicle highway systems. Electronic toll collection systems, traffic management systems, in-car navigational and route planning systems are among the systems being developed. UKbased Empires Stores, a mail order company, has reduced the clerical work in its credit department by about 30%, thanks to the implementation of an intelligent system. The company has successfully automated the decision-making process for passing or rejecting orders referred by its performance scoring system.
Google declined to comment on the report, which states that the initiative will be led by longtime Google VP of engineering Anna Patterson and involve a rotating cast of engineers instead of the venture investors who work for Alphabet Inc.'s corporate venture unit, GV. It isn't completely surprising that Google might create an investing practice around AI, particularly given Google CEO Sundar Pichai's recent pronouncement that Google is becoming "AI first" rather than "mobile first." Indeed, AI was the running thread throughout the recent Google I/O developer conference, where the company introduced new tensor processing unit (TPU) chips that promise to more quickly train and run AI models for researchers and businesses; it also announced (among many other things) that its Google Assistant, the company's virtual personal assistant that's available on devices like the Google Home and Pixel phone, will soon grow more conversational. According to Axios, Patterson and company will reportedly be co-investing with GV when it makes sense to do so.
It can be difficult to design and develop artificial intelligence systems to meet specific quality standards. Often, AI systems are designed to be "as good as possible" rather than meeting particular targets. Using the Design for Six Sigma quality methodology, an automated insurance underwriting expert system was designed, developed, and fielded. Using this methodology resulted in meeting the high quality expectations required for deployment.
UK tech startup, habito, has launched the world's first artificially intelligent Digital Mortgage Adviser (DMA) allowing millions of consumers to discuss their mortgage needs from any connected device, 24/7, without requiring a human broker. Built using AI technology and habito's market-leading algorithm, the DMA marries all the elements of a customer's financial life (e.g. The DMA explains the impact consumers' decisions will have on each mortgage configuration as a traditional mortgage broker would, but in a fraction of the time (average 10 minutes). Habito has the ability to search hundreds of products (versus a handful), so once the advice is complete consumers can be sure they're on the best mortgage for them, which can result in savings of thousands of pounds per year*. In designing the new system, habito analysed hundreds of advice interviews in order to understand what consumers needed and what formed the basis of informative advice.