It's no secret today that all our applications and devices are generating tons of data; thus making data analytics a very hot topic. Microsoft Azure has all the tools necessary to ingest, manage, and process all this data, which is also known as Big Data. However, all this data in and of itself is not useful unless processed, interpreted, and visualized correctly. Another power behind the data acquired through the years is to make Predictive Analytics, that is, using the data to make forecasts and predictions. But, by only using the data gathered, it is difficult to make an analysis.
Trust me – it's not you. Our world really is more unpredictable than ever. Even the best-laid strategies are being disrupted, whether they are focused on the workplace's culture, technical environment, market dynamics, customer behavior, or business processes. But central to these uncertainties is one constant: an algorithm guiding every step along the evolutionary trail to digital transformation. "Each company has a predictable algorithm that's driving its business model," said Sathya Narasimhan, senior director for Partner Business Development at SAP, on a live episode of Coffee Break with Game Changers Radio, presented by SAP and produced and moderated by SAP's Bonnie D. Graham.
As wealth managers look to AI for cost or UX benefits, what do they need to know about robo-advice, behavioral analytics or the value of clean data? Artificial intelligence (AI) is increasingly being used in wealth management as the catch-all term for next generation capabilities to attract and retain customers. From personalized portfolio management to customer behavior analytics, the potential for significant UX enhancements and cost reduction is vast. But progress is only possible if there's clean, well-organized data to start with. We take a look at the technological initiatives behind AI and how they apply to the wealth management industry.
Countless companies now leverage crowdsourcing as a key component of their business model even though crowdsourced data has several crucial weaknesses. It's hard to guarantee the diversity, reliability and expertise of information collected from strangers. For example, NBC reported more than 3,000 global news outlets inadvertently published tweets by Russian-backed trolls during the 2016 U.S. presidential elections. Crowdsourced data is often so dangerously flawed that this idea is now the premise of a CBS crime drama called "Wisdom of the Crowd." When it comes to the financial industry, crowdsourced mistakes can be costly as well as embarrassing.
Virtual advisors are helping meet the demands of investors who want data-driven insight and a rich, personalized experience akin to Netflix. Cognitive software platforms, which provide the tools to analyze, organize, access, and provide advisory services based on a range of structured and unstructured data, are set to attract investment of nearly US$2.5 billion in this year alone. Additionally, spending on intelligent and cognitive applications is forecast by IDC to grow at an impressive 69 percent compound annual growth rate from 2017 to 2020. Driving this explosion is the fact that more data will be created in 2017 than in the last 5,000 years. And it's expected to increase three-fold from this year until 2021.
"When I went to grab something, I could feel myself grabbing it. When I thought about moving this or that finger, it would move almost right away," Keven Walgamott said. "I don't know how to describe it except that it was like I had a hand again." Walgamott was describing the results of an experimental surgery to The Washington Post, where a prosthetic known as the "Luke" arm had been attached with electrodes implanted into his nerves. The real estate agent had lost his hand and most of his arm in an electrical accident 14 years ago, and he volunteered for the program at the University of Utah.
This Is An extract in English of Pierre Pinna's Interview on CNN Turkey. IPFC Online Founder and CEO Pierre Pinna, one of the world-renowned names in artificial intelligence and digital transformation issues that brings together entrepreneurial companies in Turkey, national and international investors, participated at the T-Bootcamp event in Izmir, explaining the future. One of the most important meeting points of entrepreneurs and investors, the T-Bootcamp event, which emphasizes the innovation efforts in Turkey, was organized at the Selçuk Yaşar Campus in Izmir with the cooperation of Yaşar University Minerva Incubation Center and technology platform creation agency WBCONS-HD. Among the leading names in the world of artificial intelligence and digital convergence, IPFC Online Founder and CEO Pierre Pinna, Fintech and Blockchain applications that are rapidly expanding include Inclusivity Network Founder Antonio Javier Ruiz, Peak State Consulting Director Anuj Khanna, Technology and Human College Founder Zeynep Dereli and entrepreneurs from Izmir and Istanbul participated as speakers. Entrepreneurs brought in prominent projects.
Eighty-five per cent of senior executives plan to invest in artificial intelligence (AI) and the internet of things (IoT) by 2020, according to a new survey of UK digital leaders by Deloitte. The findings come from the first edition of a new regular report from Deloitte, the Digital Disruption Index. The index will track investment in digital technologies and create a detailed picture of their impact on the largest and most influential business and public sector bodies. The first edition includes responses from 51 organisations with a combined market value of £229bn. Over half of survey respondents expect that by 2020, they will invest more than £10 million in digital technologies and ways of working – such as AI, cloud, robotics, blockchain, analytics, the IoT, and virtual and augmented reality.
A few weeks ago, Jochen Leidner, Director of Research at Thomson Reuters, discussed and dissected artificial intelligence (AI). Leidner offered some case studies, conducted by his team, to demonstrate successful ways of building AI products. However, before getting into specifics, Leidner gave a very brief explanation of what AI is and what it does. "It automates things that we deemed, maybe, not automatable a couple of years ago – if it works, or to an extent." Dr. Leidner, who is also the Royal Academy of Engineering Visiting Professor of Data Analytics at the University of Sheffield, made the point very early on that AI is a tool to be utilized with other forms of intelligence.
The business headlines are dominated with buzzwords like machine learning, data analytics, and predictive analytics. You hear about case studies like "Chase uses predictive analytics to predict credit worthiness in customers", "Netflix uses machine learning to recommend movies to its subscribers", "Amazon segments customers using AI [artificial intelligence]", and, fantastic as it sounds, "Most hedge funds allow machine learning algorithms to pick and trade stocks… with better success than the experts." Machine learning and artificial intelligence are everywhere. It's pervasive in every aspect of life from you're your big store purchases, to Google search recommendations, to Amazon delivery logistics, to Netflix movie recommendations. It's also everywhere you're not seeing.