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) …
Artificial Intelligence is the future of growth. There is sure to be at least one article in the newspaper/internet/blogs daily on the revolutionary advancements made in the field of Artificial Intelligence or its subfield disrupting standard industries like Fintech, Banking, Law, or any other. In banking domain digital banking teams of all modern banks planning to transform the customer experience with their AI based chat-driven intelligent virtual assistant i.e. bots. AI promises benefits, but also poses urgent challenges (not threats, please make a note) that cut across almost all industries and business be it of any nature, i.e software development, technical support, customer care, medicines, law domain or factory / manufacturing work. The need of the hour is to upgrade our skill sets to exploit AI rather than compete with it.
Amazon is hiring the most artificial intelligence talent, according to Glassdoor. Artificial intelligence (AI) is the hottest field in technology. Companies use AI to automate tasks typically done by people, and major tech firms see it as the foundation for their next generation of products. But there's a staggering talent shortage -- fewer than 10,000 people in the world have the skill set to conduct important AI research, according to technology and consulting firm Element AI. The shortage has driven salaries sky-high: AI specialists reportedly fetch compensation of $300,000 to $500,000.
Artificial intelligence is an important vehicle for companies looking to automate processes, reduce the cost of operation, or fuel innovation. Despite the positive influence AI-supported activities have on business, a successful implementation won't happen overnight. First you need a complete understanding of your business goals, technology needs, and the impact AI will have on customers and employees. The majority of employees face challenges or concerns relating to AI adoption, and that needs addressing. The implication of successful AI adoption is far reaching for businesses undertaking full-cycle digital transformation, which places equal emphasis on automation, innovation, and learning.
Speaking at the Abu Dhabi International Petroleum Exhibition Conference (ADIPEC) on Wednesday, Omar Saleh said technology disruptions over the past three years had been a "wake-up call" for all oil and gas firms.He said AI would be of "massive importance" over the next to five to 10 years, before adding that of any technology, AI would also have the most impact on the oil and gas sector overall.The U.S. shale revolution paved the way for a three-year oil price downturn that sent crude spiraling from more than $100 a barrel in 2014 to about $60 today. That has piled pressure on the oil-dependent economies of OPEC nations and forced a round of production cuts this year. On Tuesday, Baker Hughes GE CEO Lorenzo Simonelli said " " in the oil and gas industry should be viewed positively. Correction: This story has been updated to reflect that Omar Saleh believes AI will have the greatest technological impact on the oil and gas industry over the coming years. Speaking at the Abu Dhabi International Petroleum Exhibition Conference (ADIPEC) on Wednesday, Omar Saleh said technology disruptions over the past three years had been a "wake-up call" for all oil and gas firms.
In my role as an industry analyst, I get asked all the time about retailers' investment plans when it comes to artificial intelligence. My answer usually covers the two ways that AI figured into the average retail enterprise these days. One way comes through investments where the AI component is completely unknown to the retailer. Usually, we're talking about personalization or some kind of optimization technology that contains a machine learning or natural language processing component to it. Retailers want the sophisticated solution, but don't realize they are actually investing in what qualifies as AI.
Earlier this week, Tesla was at the center of the tech news cycle for the wrong reasons: Former employees accused Elon Musk's electric car manufacturer of fostering a toxic, racist work environment in a new lawsuit. Thanks to the unveiling of Tesla's new, bizarre looking semi-trucks, the company has managed to shine the spotlight on itself for more positive reasons. American retail giant Walmart announced its plan to test the new electric tractor trailer Friday, preordering 15 for its large truck fleet. According to CNBC, five of those trailers will be in the United States Walmart fleet, while 10 of them will go to the Canadian fleet. The total size of the fleet is 6,000 trucks, so these trailers will make up only a tiny fraction of the total fleet.
In the years leading up to 2016, investors have had a love affair with fintech. In 2016, an astronomical $19 billion1 was invested in fintech companies, the highest to date. Investors had good reasons to love fintech, says Braden More, head of Partnerships and Industry Relations at Wells Fargo. These new companies brought disruptive technologies and much-needed innovation to the financial sector. They enabled mobile payments, robo-investing, and deployed machine learning to disrupt lending practices in the personal and small business loan market.
Corporate houses discussed ways in which converging technologies should be responsibly harnessed to drive growth. The CEO Roundtable at the Bengaluru Tech Summit on Thursday was a lesson to young individuals that they need not worry about Artificial Intelligence (AI) because it would only add to their skills. It highlighted how the industry presented itself with opportunities and is also prepared for issues facing the industry. The discussion had its broad theme as'How diverse technologies are converging to shape our world, impacting the society.' The speakers said that technology never replaced humans, but enabled them to go do better jobs, or could even improve their lives in many cases.
What will happen to a person's artificial intelligence (AI) when they retire? When a prospective employee interviews for a job, will his or her AI be questioned alongside them? Will companies hire AI straight from a factory, or will the system undergo a sort of apprenticeship before being put to work? More importantly--and more realistic in the near-term--what will be the line at which machines are not reliable enough or morally appropriate to use and humans take over? These, along with many more immediate questions, are among the topics USGIF's Machine Learning & Artificial Intelligence Working Group seeks to generate discussion around.