If you've spent much time on Nanalyze, you know that we're passionate about technology and believe that we're living in the most exciting times in history. Our job is to keep you up-to-date about these changes in a variety of fields, so you can make informed financial decisions about where to invest or not--and learn some pretty cool stuff along the way. We talk about the good, the bad and ugly no matter what. Then we came across Narrative Science and its natural language generation (NLG) platform Quill, which uses artificial intelligence technology to write everything from financial reports to sports news. We knew that English degree would be obsolete someday.
Futurists may delight in predicting a time when business decisions will be made entirely by intelligent algorithms, but today's innovative business executives are making nearer-term arrangements. They are finding ways to use big data analytics and artificial intelligence (AI) to help their employees address two persistent business challenges: providing faster service and making better sales decisions. In both cases, the new approach combines the best of machine learning with the best of human insight to produce better business outcomes. The power of that approach will be felt across a wide swath of the economy, including manufacturers, retailers, banks, insurance companies, real estate firms, utilities, transportation, and the oil and gas industry. Indeed, nearly any business where customer interaction or equipment service is key to success can benefit from this fast-developing concept.
Artificial Intelligence is a field of computer science that consists of the construction of intelligent machines that are put into operation through computer programs. The purpose of building these gadgets or robots is to replace human intelligence to a certain extent by doing more than one action. AI is a new area under development and has a particular focus on the banking system and the way it operates. Of the most influential sectors are customer service, financial services, and fraud detection. Artificial Intelligence can make banking services automate and thus perform much faster than people.
Today the new fuss in the technology world is about artificial intelligence and how it will change the world, and the wealth management business. First let's clear up some of the confusion around nomenclature. Artificial intelligence is the concept that machines think and process new ideas by themselves, like the sentient computer Hal in the movie "2001: A Space Odyssey." Machine learning is the process by which machines are coded to adapt their programming based on new data and data analytics; think self-driving cars and Google's targeted "smart" ads that intuit what you might be interested in based on the sites you've visited. While we are still quite far from AI and a machine making up its own mind, we can't ignore the impact that smart programs powered by machine learning are making on the world.
We are on the verge of the AI gold rush. Like the prospectors of the infamous historical gold rush, however, only a few leading organizations will strike gold. Real economic growth will be achieved by the companies selling the equivalent of picks, food, supplies, shovels, and jeans for artificial intelligence and machine learning. Think of all the tools required: training data, governance tools, consulting and integration services, and most critical, the creation of new sustainable revenue models. Startups, incumbent tech companies, and corporate innovation centers have already started using artificial intelligence and machine learning to solve real business problems across nearly every industry, including manufacturing, healthcare, transportation, and energy.
Blockchain and artificial intelligence will reshape much of the insurance industry, but there should also be far more gender and race diversity across the sector. Those were two of the points raised during a discussion on --technology shaping industry-- at ILS Convergence 2018. Kara Swisher, an American technology journalist and cofounder of Recode, the technology news website, said the likes of artificial intelligence would significantly impact the insurance and reinsurance landscape. So every part of your business is going to be affected by AI, or whatever. Every part of your business could be replaced and affected,-- she told delegates at the two-day conference.
The Bank of England's chief economist, Andy Haldane, has warned that artificial intelligence and machines have the potential to make a huge number of jobs obsolete, with thousands of UK workers facing unemployment due to new technology. Mr Haldane told the BBC that the "Fourth Industrial Revolution" would be on a "much greater scale" than the previous three, and said the UK will need a skills revolution to avoid unemployment on a mass scale. He said that previous industrial revolutions had "a wrenching and lengthy impact on the jobs market, on the lives and livelihoods of large swathes of society". "Jobs were effectively taken by machines of various types, there was a hollowing out of the jobs market, and that left a lot of people for a lengthy period out of work and struggling to make a living," he said. "That heightened social tensions, it heightened financial tensions, it led to a rise in inequality.
Artificial intelligence (AI) is infusing with MESH technologies to breathe new life into the already multi-billion dollar Internet of Things (IoT) market. IoT has been one of the more prominent buzzwords in technology over the past several years, but it has been taken to new heights through AI and MESH technology, allowing interconnected devices to operate at a higher rate of efficiency and thus open the door to more consumers and businesses to leverage IoT platforms in their everyday lives. According to GrowthEnabler and Market & Markets Analysis, the IoT industry will experience a CAGR of 28.5% through 2020 on its way to nearly $460 billion in revenues. The biggest factor influencing growth will be increased adoption as it becomes increasingly apparent just how much it can transform everyday tasks and overall lifestyles Active tech companies in the markets this week include Gopher Protocol Inc. (OTC:GOPH), Splunk Inc. (NASDAQ:SPLK), NVIDIA Corporation (NASDAQ:NVDA), Aptiv PLC (NYSE:APTV), International Business Machines Corporation (NYSE:IBM). Gopher Protocol Inc. (OTCQB:GOPH) BREAKING NEWS: Gopher Protocol, a company specializing in the creation of Internet of Things (IoT) and Artificial Intelligence enabled mobile technologies, is pleased to announce that it has assembled its MESH system hardware and communication product specifications as part of phase 2; MESH implementation phase.
Machine learning is one of those technologies that is invariably around us but one that we might not even comprehend. For instance, machine learning is employed to resolve issues like deciding if an email that we got is spam or a genuine one, how cars can drive on their own, and what product someone is likely to purchase. Every day, we tend to see these sorts of machine learning solutions in action. This definition brings up the key component of machine realizing, specifically that the framework figures out how to tackle the issue from illustration information, instead of us composing a particular rationale. This is a noteworthy advancement for how writing a computer program is finished.