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The case for placing AI at the heart of digitally robust financial regulation

#artificialintelligence

"Data is the new oil." Originally coined in 2006 by the British mathematician Clive Humby, this phrase is arguably more apt today than it was then, as smartphones rival automobiles for relevance and the technology giants know more about us than we would like to admit. Just as it does for the financial services industry, the hyper-digitization of the economy presents both opportunity and potential peril for financial regulators. On the upside, reams of information are newly within their reach, filled with signals about financial system risks that regulators spend their days trying to understand. The explosion of data sheds light on global money movement, economic trends, customer onboarding decisions, quality of loan underwriting, noncompliance with regulations, financial institutions' efforts to reach the underserved, and much more. Importantly, it also contains the answers to regulators' questions about the risks of new technology itself. Digitization of finance generates novel kinds of hazards and accelerates their development. Problems can flare up between scheduled regulatory examinations and can accumulate imperceptibly beneath the surface of information reflected in traditional reports. Thanks to digitization, regulators today have a chance to gather and analyze much more data and to see much of it in something close to real time. The potential for peril arises from the concern that the regulators' current technology framework lacks the capacity to synthesize the data. The irony is that this flood of information is too much for them to handle.


How visual-based AI is evolving across industries

#artificialintelligence

Artificial Intelligence is transforming the business world as a whole with all its applications and potential, with visual-based AI being capable of digital images and videos. Visual-based AI, which refers to computer vision, is an application of AI that is playing a significant role in enabling a digital transformation by enabling machines to detect and recognize not just images and videos, but also the various elements within them, such as people, objects, animals and even sentiments, emotional and other parameters-based capabilities to name a few. Artificial intelligence is now further evolving across various industries and sectors. Transport: Computer vision aids in a better experience for transport, as video analytics combined with Automatic number plate recognition can help in tracking and tracing violators of traffic safety laws (speed limits and lane violation etc.) and stolen or lost cars, as well as in toll management and traffic monitoring and controlling. Aviation: Visual AI can help in providing prompt assistance for elderly passengers and for those requiring assistance (physically challenged, pregnant women etc.); it can also be useful in creating a new "face-as-a-ticket" option for easy and fast boarding for passengers, in tracking down lost baggage around the airport as well as in security surveillance on passengers and suspicious objects (track and trace objects and passengers relevant to it).


Pixy drone hands-on: A flying robot photographer for Snapchat users

Engadget

Drones are everywhere these days, filming dramatic reveals and awe-inspiring scenery for social media platforms. The problem is, they're not exactly approachable for beginners who have only ever used a smartphone. Last month, Snap debuted the $230 Pixy drone exactly for those people. It requires very little skill and acts like a personal robot photographer to help you produce nifty aerial shots. You don't need to pilot the Pixy.


5 Reasons why AI is Important?

#artificialintelligence

You have heard that AI can be useful in various industries to do tasks. AI is a group of many different technologies working together to enable machines to sense, act and learn with human-like levels of intelligence. Maybe that's why it seems the definition of artificial intelligence is different. Meanwhile, technologies like machine learning and natural language processing are all parts of artificial intelligence. Each one is revolving along its own path.


Let's talk robotics with Tom Caska -- EXAPTEC

#artificialintelligence

Tom is also a co-inventor of an advanced 3D flight navigation algorithm for drones which is being utilised in new software applications for Aerologix. Tom guest lecturers at one of Australia's top universities – The University of New South Wales, teaching subject matter on Unmanned flight, he also holds a position on a government subcommittee dedicated to developing rules and regulations for unmanned aerial vehicles. Tom's passion for disruptive technology is infections, he is always looking for new challenges, especially drone tech and IoT. Tom has a very successful track record of establishing, executing and delivering large complex technical projects, Tom recently set up the largest drone network in Australia to monitor 1700 km of coastline to enhance swimmer safety. Tom enjoys complex problem solving and welcomes the challenge of empowering team members and creating new innovative ways to solve real-world problems. He has a high passion for life and enjoys a healthy lifestyle, and loves adventure sports such as kitesurfing, mountain biking when time permits.


CNN for Autonomous Driving

#artificialintelligence

Artificial intelligence is entering our lives at a rapid pace. We can say that society is currently undergoing a digital transformation, as there is a profound paradigm shift within it. As more and…


Now Amazon to put 'creepy' AI cameras in UK delivery vans

#artificialintelligence

Amazon is reportedly installing AI-powered cameras in delivery vans to keep tabs on its drivers in the UK. The technology was first deployed, with numerous errors that reportedly denied drivers' bonuses after malfunctions, in the US. Last year, the internet giant produced a corporate video detailing how the cameras monitor drivers' driving behavior for safety reasons. The same system is now apparently being rolled out to vehicles in the UK. Multiple camera lenses are placed under the front mirror.


Hitachi Energy's new AI solution analyzes trees to prevent wildfires

#artificialintelligence

The massive, beautiful tree canopies in the Western U.S., which may grow perilously close to power lines, can quickly spark destructive wildfires. In fact, 70% of electrical outages are caused by vegetation, and this number has increased by 19% year over year from 2009-2020. The second-largest wildfire in California's history, The Dixie Fire, sparked when power lines came into contact with a fir tree. Could AI-driven solutions help prevent wildfires before they start by analyzing the tree growth that can spark them? Hitachi Energy, the Zurich, Switzerland-based global technology company, says yes. Hitachi Energy, formerly known as Hitachi ABB Power Grids (the name was changed last October) is currently focused on "powering good for a sustainable energy future."


Artificial Intelligence to ensure safe driving on Indian roads - The Statesman

#artificialintelligence

Artificial Intelligence (AI) powered solutions may soon make roads in India safer to drive. A unique AI approach that uses the predictive power of AI to identify risks on the road, and a collision alert system to communicate timely alerts to drivers, to make several improvements related to road safety, is being implemented in Nagpur City with the objective of bringing a significant reduction in the number of accidents. A project, 'Intelligent Solutions for Road Safety through Technology and Engineering' (iRASTE), has been launched to identify potential accident-causing scenarios while driving a vehicle and alert drivers about the same with the help of the Advanced Driver Assistance System (ADAS). The project will also identify'grey spots', i.e., by data analysis and mobility analysis by continuously monitoring dynamic risks on the entire road network. Grey spots are locations on roads, left unaddressed could become black spots (locations with fatal accidents).


Driverless cars could force other road users to drive more efficiently

New Scientist

Autonomous cars are predicted to improve fuel efficiency for everyone on the road – an idea that will be put to the test on routes around Nashville, Tennessee, later this year.