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) …
The Tally robot, from Simbe Robotics, helps out in stores so people can be freed from the monotonous task of checking shelves for inventory. Wouldn't it be nice if robots could clean our office, greet clients or put away the groceries at home? But even though we want and often embrace advances that make our lives simpler, the vision of robot as dutiful helper hasn't come to fruition. Robotics has made a big difference in manufacturing, but has failed to make it into our homes and businesses in a meaningful way. It turns out the challenges are plentiful.
Artificial Intelligence (AI) and machine learning is no more an unheard concept. AI is everywhere now and is slowly taking over routine jobs from human beings. Digital marketers and businesses are implementing AI to improve their rankings, increase sales revenue, and cut operational costs at the same time. AI is placing itself in almost every aspect of our life. Back in the 2000s, who would have thought of controlling their home appliances using Amazon Echo or Google Home?
Tesla Powerwalls and Solar Roof, two of Elon Musk's innovative strategies to get consumers onto the solar grid, require waits of six months or longer. The company says customers are hungry, but it doesn't have the product yet. Tesla is cutting the price of the Model 3, as it aims to make its best-selling product more affordable, and is discontinuing versions of other vehicles. Tesla said on Monday that it's reducing the price of the Model 3 by $1,000 to $38,990. The company will no longer sell the standard range versions of the Model S and Model X, raising the minimum costs consumers will have to pay for those cars.
Government AI regulation is necessary, AI experts and policymakers agree. But, there is no clear accord on how much regulation by the government is necessary and what to do if the state begins to infringe upon privacy. FREMONT, CA: As enterprises begin moving AI technologies out of testing and research and into deployment, technologists, consumers, policymakers, and businesses likewise have started to understand that government regulation of digital intelligence is necessary. AI has been dramatically boosting productivity, helping connect people in new ways, and improving healthcare. When used carelessly, AI can also do the opposite as it has the potential to harm human life.
Artificial intelligence may radically change the world we live in, but it is the ethics behind it that will determine what that world will look like. Consumers seem to know or sense this, and increasingly demand ethical behavior from AI systems of organizations they interact with. But are organizations prepared to answer the call? In the new report from the Capgemini Research Institute, Why addressing ethical questions in AI will benefit organizations, the Institute surveyed 1,580 executives in 510 organizations and over 4,400 consumers internationally, to find out how consumers view ethics and the transparency of their AI-enabled interactions and what organizations are doing to allay their concerns. In the given scenario, can organizations work towards building AI systems ethically?
Social media marketing is growing by leaps and bounds, what with Artificial Intelligence taking center stage. As user experience becomes more and more personalized, social media marketers are using AI to provide a holistic and positive customer experience, writes Pritha Bose, Marketing Content Specialist, Aritic. Back in the day, social media platforms were a fun place where we would share photos or find an event or follow a friend. But connecting with brands or businesses required a proper phone call or to visit their respective website. Fast-forward to the present date; the scenario has experienced a mega-shift, what with consumers now connecting with brands directly on social media platforms.
As organizations progress to harness the benefits of AI, consumers, employees and citizens are watching closely and are ready to reward or punish behavior. Those surveyed said that they would be more loyal to, purchase more from, or be an advocate for organizations whose AI interactions are deemed ethical. Companies using AI in an ethical way will be rewarded, the study's authors -- a team led by Anne-Laure Thieullent, Among consumers surveyed, 62% said they would place higher trust in a company whose AI interactions they perceived as ethical, 61% said they would share positive experiences with friends and family, 59% said that they would have higher loyalty to the company, and 55% said that they would purchase more products and provide high ratings and positive feedback on social media. In contrast, the study confirms, when consumers' AI interactions result in ethical issues, it threatens both reputation and the bottom line: 41% said they would complain in case an AI interaction resulted in ethical issues, 36% would demand an explanation and 34% would stop interacting with the company. AI may be still relatively new in its current form, but ethical issues resulting from AI systems have been observed and experienced, the survey shows.
Nearly a third of the world's food supply gets thrown out -- from produce surplus in farmers' fields to expired products discarded by retailers to leftovers. That's the issue Timothy Richards, the Morrison Chair of Agribusiness in the W. P. Carey School of Business at Arizona State University, will be trying to solve with a new grant from the USDA's Agriculture and Food Research Initiative (NIFA). "Food waste occurs at virtually all stages of the supply chain from the farmer to the retailer to the consumer -- resulting in the disposal of potentially usable food in nearly every sector of the food system in the distribution channel between farmers and consumers," Richards said. The goal of the research is to combine grocers' inventory with machine learning algorithms to develop a better system for matching supply to consumer demand fluctuations. This would ensure customers get what they want without the need for excess food.
Artificial intelligence (AI) is set to play a key role in the future of financial services and more broadly in what UBS and the World Economic Forum refer to as the "Fourth Industrial Revolution." The global economy is on the cusp of profound changes driven by "extreme automation" and "extreme connectivity." In this changing economic landscape, AI is expected to be a pervasive feature, allowing to automate some of the skills that formerly only humans possessed. In the financial services industry in particular, there has been a lot of noise around the potential of AI and data supports that investors are excited about the impact the technology could have across the industry. VC-backed fintech AI companies raised approximately US$2.22 billion in funding in 2018, nearly twice as much as 2017's record.
Myth: "The customer journey is not as complex as it's made out to be." One thing is for sure – the consumer decision journey is more complex than ever before. The average consumer now owns three to four devices and uses multiple online and offline channels throughout their shopping journeys. The game is changing as marketers turn to artificial intelligence, agencies and data to help them navigate new consumer behavior. Every marketer today needs to be addressing these challenges as the CDJ itself is disrupting the digital landscape.