An example of how AI improves patient care is Amsterdam UMC's partnership with SAS. The project was able to clinically diagnose patients with colorectal liver cancer, the third most common cancer worldwide, using Computer vision and predictive analysis. Previously, this process required manual examination which was time-consuming and subjective to the radiologist. Automating this process has increased accuracy and saved time to ensure patient survival. Whether it's image analysis to detect cancer or other diseases immediately, predicting the number of patients to ensure the right number of doctors and hospital beds are available or using natural language processing (NLP) to understand lengthy patients reports – the potential for technological enhancement in healthcare is colossal.
The ability to forecast events at scale, given a set of variables, is something most companies would find useful. So Amazon is aiming to make prediction more accessible with a fully managed service called Forecast that uses AI and machine learning to deliver highly accurate forecasts. As Amazon explained in a press release, Forecast -- which is based on the same technology the Seattle company uses to anticipate demand for hundreds of millions of products every day -- can be used to build precise forecasts for virtually any business condition, including product demand and sales, infrastructure requirements, energy needs, and staffing levels. It automatically provisions the necessary cloud infrastructure and processes data, building custom AI models hosted on AWS without requiring an ounce of machine learning experience on the part of developers. Amazon says the API or a console allows the average person to build custom machine learning models in less than five clicks and achieve accuracy levels that would normally take months in as little as a few hours.
Robert Chang, a Stanford ophthalmologist, normally stays busy prescribing drops and performing eye surgery. But a few years ago, he decided to jump on a hot new trend in his field: artificial intelligence. Doctors like Chang often rely on eye imaging to track the development of conditions like glaucoma. With enough scans, he reasoned, he might find patterns that could help him better interpret test results. That is, if he could get his hands on enough data.
Tel Aviv is the city with the highest number of startups per capita in the world, according to the 2018 Global Startup Ecosystem report -- more than 6,000, of which 18 are unicorns. The city's tech cluster, dubbed Silicon Wadi, is home to more than 100 venture capital funds, plus hundreds of accelerators and co-working places. "Tel Aviv is transitioning from startup nation to scale-up nation," says Eyal Gura, co-founder of Zebra Medical Vision. Amit Gilon, an investor at Kaedan Capital VC fund, agrees – adding that Israel is not just about successful B2B companies anymore, such as Checkpoint, Nice and Amdocs, but also about "big B2C success stories like Playtika, Wix, Fiverr and others". Founded in 2015, Arbe has built a 4D ultra-high-resolution imaging radar for cars.
The financial services industry has seen a great deal of disruption from digital-based alternatives. Many of these challengers use advanced technology and expanded data sets to offer apps that provide financial solutions at a lower cost, with less friction and greater personalization than traditional bank or credit union offerings. Toronto-based startup Flybits believes that the best way to compete in the future is not just by developing innovative products and services, but by becoming the repository of choice for data in addition to money. "I definitely see that banks are in a perfect position, if they innovate right, to be the perfect data vaults for the future – managing the privacy and also the data of their customers," says Hossein Rahnama, CEO and Co-Founder of Flybits, in an exclusive interview for Banking Transformed, a new podcast from Jim Marous and The Financial Brand. "Using AI and machine learning, there is the potential to build a'data marketplace' for banks, fintechs and other data providers to partner and build more services together."
Facial-recognition software is increasingly being used to track individuals without their permission.Credit: David McNew/AFP/Getty China wants to be the world's leader in artificial intelligence (AI) by 2030. The United States has a strategic plan to retain the top spot, and, by some measures, already leads in influential papers, hardware and AI talent. Other wealthy nations are also jockeying for a place in the world AI league. A kind of AI arms race is under way, and governments and corporations are pouring eye-watering sums into research and development. The prize, and it's a big one, is that AI is forecast to add around US$15 trillion to the world economy by 2030 -- more than four times the 2017 gross domestic product of Germany.
Jio, the world's largest mobile data network service provider, and Guavus, a Thales company and the leader in AI-powered analytics for communications service providers, announced a partnership today centered on AI-driven analytics. Guavus' AI-based solutions will provide real-time customer experience analytics, predictive analytics to automate network troubleshooting, and key marketing insights to Jio. As a result, Jio will be able to offer superior service to its customers while addressing critical service operations with intelligent automation. Jio is one of the world's largest and fastest growing data service operators with more than 300 million subscribers. The Indian service provider, which has disrupted the market with its affordable data plans and unlimited calling benefits, has created a completely digital experience for its users ranging from data services on smartphones, to gigabit Internet at home, along with a portfolio of media offerings and IoT devices such as smart speakers and switches for the smart home.
The Matrix reached US cinemas just over 20 years ago and articulated society's fear of the power of artificial intelligence (AI) and its potential to overpower the human. The film taps into ongoing human anxiety around technology and our ability to control it, best epitomised by Mary Shelley's 19th century trope of the Frankenstein's Monster-- the notion that we may well lose control of our own creations as we strive to push the boundaries of science. The human relationship with technology remains a fraught one, but there is little question that AI has the potential to be revolutionary. The McKinsey Global Institute Study reported that in 2016 alone, between $8bn and $12bn was invested in the development of AI worldwide, and Goldstein Research predicts that by 2023, AI will be a $14bn industry. While few of us yet use driverless cars and interact regularly with the animated robots of another science fiction story, I Robot, AI is nonetheless beginning to affect our daily life.
AI seems to be well on its way to becoming the most overused buzzword of the tech industry, but don't be put off by the hype. Some fintech companies in Asia are actually making use of natural language processing or machine learning for detecting fraud and making investment decisions. I recently interviewed two CEOs--Simon Loong from the Hong Kong unicorn WeLab and Jianyu Tu from MioTech--to better understand some of the recent developments in AI in Asia's fintech industry. Philippe Branche: First, could you describe your company in a few words? Simon Loong: WeLab is a fintech company providing seamless digital financial services.
After his tenure as chief scientist at Baidu, Andrew Ng, the founder of the Google Brain project and former CEO of Coursera, set up a number of different projects that all focus on making AI more approachable. These include the education startup Deeplearning.ai, Today, Ng announced he has opened a second office for these projects in Medellin, Colombia. At first, Medellin may seem like an odd choice. But today's Medellin is very different from the one you may have seen on Narcos (and a lot safer).