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) …
Bloomberg journalists have been breaking business news since 1990, but these days their reporting relies increasingly on data science. This change has thrust the head of data science, Gideon Mann, into a key role in the newsroom. The computer science graduate spent seven years as a staff research scientist at Google before he joined Bloomberg in 2014, but had little prior experience of finance and was initially surprised to see the influence that journalists have on markets. "Before I started at Bloomberg, I didn't understand the nature of how news moves markets," Mann told Computerworld UK from Bloomberg's new £1 billion European headquarters in the heart of the City of London. "Things happen in the real world and usually there's a journalist that's writing and talking about them and spreading the word, and that's how that information gets disseminated."
Microsoft reached another two milestones when it unveiled its annual financial results last week. First, as ZDNet noted, its annual revenues passed $100bn for the first time. But I'm sure the Softies are not going to get complacent about that: Microsoft will also know that it has already been overtaken by a much younger firm: Google. Worse, Google is still growing faster than Microsoft, though the success of Microsoft's Azure cloud may yet keep it in the hunt. Microsoft's annual revenues of $110.4bn took it past'peak IBM', but Google did it even faster.
Facebook Tests AR Adverts in Its News Feed Facebook is working with a select group of advertisers to create augmented reality ads for its News Feed. When users activate an ad's tap-to-try AR capability it can display for example how a pair of glasses would look on their face via the user's webcam and screen. Facebook says it also intends to expand shopping support in Instagram Stories. July 10th -- NVIDIA Collaborates with Daimler and Bosch to Develop Robotaxi Fleets. NVIDIA, Daimler and Bosch announce a partnership to develop on-call, fully automated and driverless taxis.
This is the tech news you need to know this Thursday. News of this deal comes just four months after President Trump blocked Broadcom from acquiring chipmaker Qualcomm in a $103 billion hostile takeover on national security grounds. The new terms give Facebook explicit permission to audit developers' use of data, in what looks an effort to prevent a second Cambridge Analytica-style scandal. Musk was responding to a Twitter user who said he had been told Musk wouldn't be able to help bring clean water to Flint. According to an excerpt of the account in Vanity Fair, employees feared Brin's behaviour would lead to a sexual harassment lawsuit.
In a recent survey of its Asia Pacific clients, fund manager Northern Trust found that artificial intelligence is widely expected to become commonplace within institutional investors by 2020. About 60% of the fund's Australian-based institutional investment clients believe meaningful adoption will occur over the next two years, while Singapore and Hong Kong-based clients anticipate broad adoption in two to five years. AI implementation in the investment community is unavoidable, but what specific applications can we expect for institutional investors? The magazine Institutional Investortries to answer this question by observing the types of technology the largest US asset managers have been investing in. It notes that State Street Global Advisors has been building up its AI infrastructure by investing inmassively parallel processing, a technology through which multiple processors work on different parts of a program, helping it deal with large datasets to forecast company fundamentals and find anomalies in fundamental data.
Everest Group, a leading consulting and research firm, has placed Genpact (NYSE: G), a global professional services firm focused on delivering digital transformation, in its Leader's quadrant in the 2018 PEAK MatrixTM for Property & Casualty (P&C) insurance service providers. Genpact achieved the greatest positive year-on-year movement on the PEAK Matrix, and also received a Star Performer designation. The report evaluates 18 P&C insurance industry service providers in terms of vision, capability, market impact, and other areas. Everest Group emphasizes Genpact's digital technology investments, including Genpact Cora, its artificial intelligence (AI)-based platform, and the company's recent strategic P&C sector acquisitions. In the past year, Genpact has acquired BrightClaim, National Vendor, and OnSource, which enhance Genpact's end-to-end claims management capabilities.
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Bonsai aims to make artificial intelligence technology easier to use in the real world. Microsoft has agreed to acquire Bonsai, a startup focusing on the hot field of artificial intelligence. Bonsai will become part of Microsoft's commercial AI offering through its own Project Brainwave foundation and its Azure cloud computing service, said Gurdeep Pall, Microsoft's corporate vice president of business AI, in a blog post Wednesday. "Bonsai has achieved some remarkable breakthroughs with their approach that will have a profound impact on AI development," he said. AI -- especially areas called machine learning and neural networks -- is an immensely important development in computing.
Influential announced today that it has raised $12 million in Series B funding. The funding came from existing investors Capital Zed, ECA Ventures, Paradigm Talent Agency, ROAR and Tech Coast Angels, as well as from Hollywood agency WME . Just a couple weeks ago, Influential said it was working with (and had raised money from) WME. The agency is the first to try out a new Influential product called Talent Pro, which gives agents access to social data around a broader pool of talent. Influential founder and CEO Ryan Detert said the product will allow WME -- and, in the future, other agencies -- to sweeten endorsement and promotional deals with more data and to "take an A-list celebrity… and now surround that person with 10 lookalike influencers who are not celebrities themselves."