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) …
Throughout 2017 we saw how the enterprises have started taking Artificial Intelligence(AI) seriously, but even so, they are still yet to explore how to use it in their strategy activities and campaigns. This is eventually changing in 2018 as most of the enterprises have started taking steps to make AI a must-have in their strategy. Even a report from Gartner states that by 2020, 85% of the customer interactions will be managed without humans. This just goes to show how important AI is going to become in the coming times and those who leverage it will have a serious advantage over others. Data Scientists and Engineers that are working on AI are pushing themselves hard to create AI systems that learn intrinsic nature, language, and emotions so that they comprehend everything and predict behaviour and possible activities.
The possibilities of artificial intelligence are endless. AI helps businesses create tremendous efficiencies through automation, while enhancing an organizations ability to make more effective business decisions. However, it's no surprise that companies are beginning to be held accountable for the outcomes of their AI-based decisions. From the proliferation of fake news to most recently, the deliberate creation of the AI psychopath Norman, we're beginning to understand and experience the potential negative outcomes of AI. While AI, machine learning, and deep learning have been deemed to be'black box' technologies, unable to provide any information or explanation of its actions, this inability to explain AI will no longer be acceptable to consumers, regulators, and other stakeholders.
With the power of artificial intelligence (AI) and machine learning, banks and other FIs have an opportunity to help consumers manage their budgets and plan for big life events. Find out how the industry's most innovative companies are using these technologies to build financial solutions and apps to attract and engage today's evolving consumer. In our everyday lives, it can be difficult to monitor our spending habits and see how they impact our overall financial health. According to Abe AI founder and chief operating officer Keith Armstrong, that's the kind of burden AI can help alleviate. Abe AI works with financial institutions to offer AI-powered voice and chat applications for customers who are looking for a virtual coach.
Ahead of IFA world's leading trade show for consumer electronics and home appliance slated to hold this August in Berlin, Germany, LG Electronics Chief Executive Officer, Jo Seong-Jin and Chief Technology Officer, Dr. I.P. Park will deliver a joint opening keynote at the trade exhibition to outline their vision for LG's ThinQ strategy for Artificial Intelligence. The first IFA keynote for both executives, titled Think Wise, Be Free: Living Freer with AI will be delivered at the trade expo. With interest in all things AI at a peak, CEO Jo, according to LG Electronics would provide his insight into how LG's AI strategy will change customers' lives based on its unique philosophy of an "open platform, open partnership and open connectivity". Similarly, Dr. Park, according to the technology company is expected to show how this technology comes to life in everyday products like refrigerators, TVs and washing machines, and how LG's open AI strategy benefits consumers, thanks to its focus of giving them both control and convenience. "The IFA keynotes provide CEOs and top executives with a global media platform for forward thinking ideas and strategies," Jens Heithecker, Messe Berlin Group executive vice president and IFA executive director, said, adding that, "LG has been and continues to be a key global player in the field of artificial intelligence, which is why we are extremely pleased that Mr. Jo and Dr. Park will deliver the opening keynote at IFA this August."
There are plenty of reasons to use voice assistants, but one of the key drivers is speed. The majority (82%) of voice assistant users say that fast and accurate replies is the most compelling feature that causes them to use the voice assistant. These are among the findings in the Conversational Commerce study by Capgemini Digital Transformation Institute, which surveyed 5,000 consumers in the U.S., U.K., France and Germany. Although the study was focused on consumers making purchases via voice assistants, some other interesting insights about consumers who use voice assistants also were found. For example, more than two-thirds (69%) prefer to use their voice assistants in their living rooms and 61% in the kitchen.
Facebook has recently come under intense scrutiny for sharing the data of millions of users without their knowledge. We've also learned that Facebook is using AI to predict users' future behavior and selling that data to advertisers. Not surprisingly, Facebook's business model and how it handles its users' data has sparked a long-awaited conversation -- and controversy -- about data privacy. These revelations will undoubtedly force the company to evolve their data sharing and protection strategy and policy. More importantly, it's a call to action: We need a code of ethics.
Alexa, ask Excalibur Insurance for a car insurance quote. That possibility is just around the corner, as Wawanesa Mutual Insurance Company announced Thursday that it had opened an Innovation Outpost lab in Kitchener, Ont. that will connect customers with brokers through voice technology. One of the first projects out of the lab is a new interactive technology using an Amazon Alexa voice skill to connect Wawanesa customers to their brokers for an auto or home insurance quote. Jeff Roy, CEO of brokerage Excalibur Insurance Group, helped to spearhead the work with ProNavigator (which provides an insurance AI-powered virtual assistant). The brokerage will be the first going to market with the new technology, which will then be launched on other brokerages' websites in the future.
Previously, we looked at how Artificial Intelligence (AI) has changed the supplier side of the retail eco-system, especially on two fronts – Price and Product Offering. In this post, we shall analyze how it has affected the buyer's journey at almost every step of the way. As most of you will know, a buyer's journey starts from the awareness stage, where he comes to learn of a product or a brand, and then goes on to the following stages: research, consideration, purchase and retention; the latter is where a company tries to hold on to its customers. After all, history shows that people who have bought from your company before are most likely to be repeat customers if they are happy with the overall journey. AI retains the power to analyze vast tracts of data, and that includes human behavior.
Prior to Spain's King Ferdinand and Queen Isabella financing Columbus' voyage to discover the New World, the Strait of Gibraltar was flanked by two pillars that bore the warning non plus ultra or, "Nothing further beyond," serving as a warning to Mediterranean sailors and navigators to go no further. However, Ferdinand and Isabella's grandson, Charles V, essentially reversed this line of thinking with his own motto, plus ultra, which translates to "Further beyond" or "limitless." I believe the American economy will change more in the next 10 years than it has in the 500 years since Charles V colonized the Americas. Transformative technologies like artificial intelligence, robotics, the internet of things (IoT), autonomous vehicles, virtual reality, digital traceability and blockchain will fundamentally change how we consume goods and services. These new market tools will create limitless opportunity, but they'll also create new challenges.
Wearable technology has become a buzzword among marketers, consumers and well-being gurus. Forbes projects that the wearables market will grow to $34 billion by 2020. But what exactly is wearable technology? The devices now flooding the market offer varied functionality – from activity tracking to mobile connectivity to medical monitoring. The Fitbit tracker, Apple smartwatch, Tambour Horizon smartwatch by Louis Vuitton and Sano's glucose monitoring patch are all, technically, wearable technology.