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) …
Korean tech giant Samsung has unveiled plans to launch a research centre to explore and develop artificial technologies, it said on Wednesday. According to Reuters, the company wants to bolster its role as a leader of this technology, and it'll do that by pioneering research in the area. The company also wants to establish an "executive role" to take advantage of new business areas and technologies across its three main enterprise groups. In a statement, the company said it's in the process of tweaking its business structure to "quickly respond to market changes". And artificial intelligence is at the top of the list.
Sarah Nolet, CEO of AgThentic, says agriculture is undergoing a digital revolution, and the huge potential of Artificial Intelligence (AI) will accelerate the pace of disruption and rapidly change how our food gets from paddock to plate but it's not as scary as you might think. AI, with applications ranging from image processing algorithms, to cloud biology, to on-farm sensors, could have a positive impact on the economic and environmental sustainability of agriculture. As we understand more about the complex natural systems in which our crops grow, and have access to highly practical recommendations from agronomist-trained algorithms, farmers will use fewer chemicals and pesticides. And as we digitize the agricultural supply chain, we will reduce the amount of food we waste, improve our ability to respond quickly to consumer needs, and more toward seed-to-stomach transparency at the swipe of a finger. AI will eliminate inefficiencies, bring convenience to consumers, and helps farmers capture a larger percentage of each dollar we spend.
Artificial Intelligence (AI) has quickly become a driving force in retail, with Forrester Research predicting earlier this year that investments into AI would triple before 2018. These trends in consumer marketing have primed the pump for widespread use of AI and insight-based marketing in B2B relationships. In fact, recent studies of business buyers show that almost two-thirds of them fully expect AI to anticipate their needs in the near future. One of the most recognizable examples of B2C AI-driven marketing is preemptive marketing, which includes things like the movies Netflix recommends to you based on your viewing history and ratings, and the products companies like Amazon suggest based on your past purchases. Another example most people are familiar with is targeted advertising.
The financial services industry must respond to a mobile marketplace that has a new demographic profile, new usage patterns and new expectations around AI, IoT and other digital technologies. After years of strong mobile growth being driven by younger demographic segments, the majority of recent, more modest growth can be attributed to the 55 and older generation. In fact, consumers in the 55 age group have a three-year compound annual growth rate of nearly 8% compared to only 2% for the 18 to 34 segment, according to a study from Deloitte. While the rate of growth in ownership of smartphones has tapered off, exciting technologies are beginning to stimulate the imagination of the mobile consumer, including artificial intelligence (AI), machine learning, virtual reality (VR) and augmented reality (AR), the internet of things (IoT), 5G, and the integration with other non-phone devices (watches, glasses, tablets, etc.). At the end of the day, the banking industry must stay in front of these trends, offering consumers the experience they expect on the platform(s) they prefer.
Artificial intelligence (AI) doesn't walk and talk like C3P0 of "Star Wars" (many would say: "Thank God"). It doesn't mask murderous intentions with a calming voice like HAL of "2001: A Space Odyssey." It's not the manically depressed, paranoid android Marvin of "Hitchhiker's Guide to the Galaxy." It's not a beautiful but cunning killer like Ava of "Ex Machina." Spoiler alert: Real life AI is nothing like a Hollywood robot -- too smart for its own good, poised to take over the world and exterminate all humans.
The age of Big Data has reached an all new high as disruptive and innovative digital technologies push businesses to adapt quickly in a rapidly changing consumer market. The capabilities and agility of big data combined with the scale of artificial intelligence is helping businesses across industries to understand evolving consumer behaviour and preferences, gain business intelligence and apply valuable insights when creating strategies. The convergence of big data and AI is the most significant development for businesses across the globe, enabling them to capitalise on hitherto unexplored opportunities. A major factor accentuating the importance of big data is also the massive volume of, and speed at which data is created through digital technologies and devices, providing businesses with real-time access to information from far more number of sources than ever before. As the driving force of several industries in 2017, the scale and growth of artificial intelligence in 2018 is expected to be even more greater.
We are entering a new era of commerce fueled by younger consumers, mobile devices and high demand for more personalized shopping experiences. Millennials are now the largest generation in the U.S. workforce, and their income and buying power are rising. This generation, along with the next tide of digital natives, is putting pressure on enterprises to deliver customer service with the usability and simplicity of consumer apps, and without the inconvenience of phone calls. Companies are investing in artificial intelligence (AI) technology that can provide these experiences through bots, thus ensuring that customers get what they need -- when, how and where they like. Although AI is a solution to customer service problems, intelligent automation is difficult and expensive to develop.
Maybe it's because the new high-tech sex robots have been in the news lately that we are hearing again about the death of call centers due to "artificial intelligence." It might be well to point out that it is called "artificial" for a reason. Likewise, a "sexbot" is artificial intelligence that it stops talking when you push the "mute" button. There is a great misconception about the role of new technologies --broadly lumped as artificial intelligence--in the customer-service industry. The hysterical articles you read that sooner or later all Filipino call-center agents are going to be replaced by armies of computers is simply false and with no basis in reality.
Artificial intelligence and machine learning are often associated with tech giants like Google and Amazon that have created the most popular machine learning libraries and platforms. Since efficient AI/ML solutions require vast volumes of costly data to train, small companies are often reluctant to integrate AI into their business workflow. These worries are overblown though. These days, turning your small business into a full-fledged data-driven company might be easier than you think. To prove this, here are five easy tips on how to kickstart AI transition of your small company right now.
Jefferson Graham runs down his choices for the top 10 tech turkeys of 2017. Is there a Snapchat Spectacles on your list? LOS ANGELES -- Looking back at 2017's tech bombs, none was a bigger turkey with consumers than Spectacles, from Snapchat parent Snap, Inc. The cute $129 video sunglasses were initially hard to get--until Snap put them on sale nationally in February. Then consumers turned fickle on the company, leaving a backlog of thousands of unsold glasses and a $40 million write-down from Snap.