If you are looking for an answer to the question What is Artificial Intelligence? and you only have a minute, then here's the definition the Association for the Advancement of Artificial Intelligence offers on its home page: "the scientific understanding of the mechanisms underlying thought and intelligent behavior and their embodiment in machines."
However, if you are fortunate enough to have more than a minute, then please get ready to embark upon an exciting journey exploring AI (but beware, it could last a lifetime) …
Singapore is gradually reopening its borders again after months of coronavirus travel restrictions. As the city-state looks to salvage its battered tourism industry -- which contributes around 4% to its economy -- it's hoped that artificial intelligence (AI) can help the sector bring back visitors safely. Official data shows monthly visitor arrivals were down by 76% between January to July, compared to a year ago. Visitor arrivals in July alone were down more than 99% year-on-year. Even though the Southeast Asian nation remains closed off to most foreigners, officials are now considering lifting restrictions for select groups of visitors.
Ongoing border restrictions and lower consumer appetite for international flights have changed travel as an industry. The two entrepreneurs said they believe machine learning and AI will change travel as an experience. "The business models of traditional corporate travel management companies have not evolved for decades," Kirtane stated. "Existing tools have not kept pace with the modern business traveler, and are generally not affordable by smaller and mid-sized businesses." "Hotels used to feel more technologically advanced than our homes but as IoT (Internet of Things), AI and consumer tech companies take the lead, the tech gradient has reversed -- hotels now feel lower tech than our own homes," said Ling of Vouch.
Singapore's banking behemoth DBS, formerly known as the Development Bank of Singapore, announced that it was looking forward to using AI and Big Data Analytics to enhance its customer experience. The Bank stated on Monday that it was adding several services to its mobile banking app, including predictive technology, which would engage more users to make smarter choices regarding their investments. DBS has spent a significant amount of time refining its banking tech because it is expecting competition from several new companies in Singapore. Notably, companies like ByteDance and Alibaba are exploring banking licenses in Singapore, and have almost received them. With the imminent competition, DBS' superior services are expected to keep the bank afloat.
RegTech is the management of regulatory processes within the financial industry through technology. The main functions of RegTech include regulatory monitoring, reporting, and compliance. Europe is home to about 140 regtech startups- 30% of those startups specialize in compliance management, 27% focus on know your customer (KYC) and anti-money laundering (AML) automation, and 26% leverage technology and data to provide risk management tools, according to a data provided by XAnge, a Franco-German venture capital firm. London headquartered ComplyAdvantage is a RegTech company that leverages uses AI and ML to help firms manage compliance obligations. The company provides data intelligence to help firms understand the risk of who they're doing business with, while automating compliance and risk processes.
Singapore is reviewing whether local guidelines should be updated to address potential competition and consumer issues that may arise from the proliferation of e-commerce platforms. These include a need to provide "greater clarity" with regards to the role of data in the sector, as marketplace operators may move to refuse access as a competitive measure. For now, at least, there were no major competition concerns involving e-commerce platforms in the country, according to the Competition and Consumer Commission of Singapore (CCCS), citing feedback from the industry. It noted that its existing competition framework was "sufficiently robust" to address major competition issues that might arise from the proliferation of e-commerce platforms that competed in multiple market segments here. The commission had conducted a study, carried out by Frontier Economics, that comprised interviews with industry stakeholders, an online survey of e-commerce users, and a review of other overseas jurisdictions.
All the below links and tweets are in English. A test run of a robot using artificial intelligence has begun in Hamamatsu City, central Japan. The robot is designed to help prevent the spread of the coronavirus by identifying people not wearing masks. Norway's Minister for Research and Higher Education Iselin Nybø is visiting Japan, including AISTs Artificial Intelligence R&D Center. NEC Corporation signed an LoI to support R&D activities in the areas of Artificial Intelligence and Robotics at the proposed India Japan Centre for Artificial intelligence and Robotics (IJCAIR) at Indian Institute of Technology Bombay.
The Benelux Office for Intellectual Property (BOIP) has partnered with Clarivate Plc, a global leader in providing trusted information and insights to accelerate the pace of innovation, to improve its trademark research services. Using AI-powered technology from Clarivate, BOIP has simplified the process of researching image trademarks for uniqueness and availability. BOIP joins innovative IP offices around the world like the EU Intellectual Property Office, IP Australia and the Intellectual Property Office of Singapore who have adopted image recognition (IR)1 and new technologies to deliver innovative and more accessible services to users. Technology has transformed trademark research, automating a previously time-consuming and manual task. Today, the ability to search and compare image trademarks is essential as 40% of trademarks worldwide contain an image component2.
The latest annual average anomaly is 0.8 C. (source: NASA/GISS, Global Climate Change) By 2050, two out of every three people are likely to be living in cities or other urban areas -- highlighting the need for more sustainable urban planning and public services. Most of the increase is expected to be highly-concentrated in just a handful of countries. The AEC industry is not moving fast enough. Design are often developed manually without taking advantage the wealth of environmental and contextual information and computing power available online. Even the simple task of properly situating buildings within the environment to take advantage of wind, sun, and land is often ignored.
AI can be used to enhance the accuracy and efficiency of decision-making and to improve lives through new apps and services. It can be used to solve some of the thorny policy problems of climate change, infrastructure and healthcare. It is no surprise that governments are therefore looking at ways to build AI expertise and understanding, both within the public sector but also within the wider community. To unleash the potential of AI safely, however, issues such as accuracy, human control, transparency, bias and privacy need to be addressed. So governments should be role-modelling the ethical use of AI, and educating their people on AI and how to be ready for the opportunities and challenges. One way countries could do this would be through setting up a body that is a visible focus for AI: a centre of excellence.
Caught by the sudden onslaught of COVID-19, most businesses lack or have inadequate security systems in place to support remote work and now have to deal with a new reality that includes a much wider attack surface and less secured user devices. Many also have had to adapt and adopt digital tools quickly, taking on new technology that may not be adequately secured. Already, 21% of organisations in Singapore revealed they had seen an increase in attacks on their IT systems due to the pandemic, according to a HackerOne report released this week. Some 58% of these businesses believed they were more likely to encounter a data breach as a result of the global pandemic, found the survey, which polled 200 respondents in the city-state. Conducted by Opinion Matters in July 2020, the HackerOne study polled 1,400 security professionals in Singapore, Australia, France, Germany, Canada, the UK, and the US.