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AI to the Rescue

#artificialintelligence

America is facing a health care crisis primarily due to its aging population. Physician shortages have come to the forefront recently, as many hospitals are overwhelmed due to the COVID-19 pandemic. In truth, our looming physician shortage is a generation in the making, as baby boomer doctors retire in droves. This is all occurring as lifespans are increasing--hence, there are fewer doctors to treat more patients. Exacerbating the problem is that medical schools are not churning out medical students fast enough due to capacity constraints, and it takes 12 to 15 years to train a doctor. Today, more than half of active physicians are older than 55, and by the year 2032, the Association of American Medical Colleges projects a shortfall of 122,000 doctors in the United States.


Think Search Is Solved? Think Again

#artificialintelligence

Search is one of the oldest technologies around. Ever since the dawn of the World Wide Web, a search engine has been the portal through which we obtain information. The search for a better search engine index kick started the Hadoop craze, and it continues to drive Google to push the limits of technology. But don't for a second think that search has been solved. "Search is far from being solved. It's the hardest thing we do. It's the hardest thing everybody does."


Conversational AI to Reduce the Cost of Banking Customer Acquisition - NASSCOM Community

#artificialintelligence

“It costs five times more to acquire a customer than to retain a customer” – goes a famous adage. With due respect to this adage, if you don’t acquire new customers, your bank would cease to grow. So, one cannot overemphasize the importance of customer acquisition. Today Artificial Intelligence has permeated almost every aspect of the banking and financial industry. It looks like customer acquisition just got the Conversational AI reinforcement. The banking customer acquisition process slowly shifted gears from physical to digital channels in the last decade. Today, banking and financial players can speed up the customer acquisition cycle and reduce the costs associated, thanks to Conversational AI. But legacy banks need to move fast as there is a constant threat of upstart fintech players giving banks a run for their money! Meet your customers where they are The distribution-led ‘bank branch’ growth model has few takers today. In the first decade of this millennium, the number of physical branches closely linked to banking customer base and revenues. Not anymore. Today’s digital-first customers expect you to meet them where they are – web, social, instant messenger, apps, etc. Conversational AI can help you be omnipresent on digital channels to capture your customer’s mindshare and, ultimately, the wallet share in its many avatars. Reduce the friction in customer journeys Every prospective banking customer would go through a handful of predefined digital customer journeys. It could start searching on Google, comparing competitor offerings, chatting with reps online, checking for social proof, etc. Banks should map these journeys and offer extensive customer touchpoints and compelling reasons for customers to move to the next stage. AI-powered voice bot or chatbot helps familiarize the customers with banking products and services and remove friction in banking journeys, thus driving new revenues and deepening relationships. Offer personalized products and services Banking enterprises are sitting on a treasure trove of customer data. Utilizing this data to offer more personalized customer service removes friction and delivers a transformed customer experience. Credit card companies have for long benefited by providing targeted services to their customers. Leveraging AI and predictive analytics, demographic-specific offers, location-based discounts, and brand loyalty benefits are other ways credit card providers reap rich benefits. Listen to the voice of the customer Gone are the days of one-size-fits-all banking services. Customers today have their primary goals laid bare, and then they have specific goals nested within these larger goals. Banks need to pay special attention to what exactly the customers are seeking. AI-based platforms like Conversational Service Automation help deliver a superior banking experience, thus empowering banks to deepen relationships with their customers. What is the customer’s implied financial needs, service expectations, apprehensions, unspoken priorities, ‘wow moment’ triggers, etc.? Machines can pore over the customer conversations across all channels for nuggets of information using conversational analytics. This way, you not only reduce the cost of customer acquisition but pave the way for a long-term relationship with banking customers based on mutual understanding.


Global Big Data Conference

#artificialintelligence

GPT-3, the latest incarnation of artificially intelligent natural-language systems, knows how to write -- and write and write and write. For a taste of what it can (and cannot) do, here are three examples of its verbosity. In each case, we gave the system a short prompt (in italics) and let it roll. First we asked it to write about itself. Then, playing off a suggestion from a start-up called Sudowrite, which has spent months testing GPT-3, we asked the system to write a Modern Love column.


AI and pharma

#artificialintelligence

The COVID-19 pandemic has increased the focus on the use of artificial intelligence (AI) across the life sciences organization, from R&D to manufacturing, supply chain, and commercial functions. During the pandemic, company leadership and management realized that they could run many aspects of their business remotely and with digital solutions. This experience has transformed mindsets; leaders are more likely to lean into a future that lies in digital investments, data, and AI because of this experience. At present, the life sciences industry has only begun to scratch the surface of AI's potential, primarily applying it to automate existing processes. By melding AI with rigorous medical and scientific knowledge, companies can do even more to leverage this technology to transform processes and achieve a competitive edge. AI has the potential to identify and validate genetic targets for drug development, design novel compounds, expedite drug development, make supply chains smarter and more responsive, and help launch and market products. We will highlight a number of these use cases in this report.


Global Big Data Conference

#artificialintelligence

The quantity of digital text data has grown exponentially in recent years and will continue to grow. From social media posts to customer transactions, surveys, reviews, chats, emails and more, businesses face the challenge of monitoring various sources and extracting relevant data. The rise of unstructured data on the internet is an opportunity for both small and large enterprises. Along with data from new sources, businesses have found ways to generate new insights from unstructured data, leading to new technologies and opportunities for research. With the rapid evolution of big data analytics and with unstructured content making up an estimated 80% of organizations' data, financial enterprises have given significant attention to text mining.


Council Post: How No-Code Solutions Aid Text Mining In Big Data Analytics

#artificialintelligence

The quantity of digital text data has grown exponentially in recent years and will continue to grow. From social media posts to customer transactions, surveys, reviews, chats, emails and more, businesses face the challenge of monitoring various sources and extracting relevant data. The rise of unstructured data on the internet is an opportunity for both small and large enterprises. Along with data from new sources, businesses have found ways to generate new insights from unstructured data, leading to new technologies and opportunities for research. With the rapid evolution of big data analytics and with unstructured content making up an estimated 80% of organizations' data, financial enterprises have given significant attention to text mining.


CSIRO and Austrade prescribe digital and R&D to create 'roaring 2020s'

ZDNet

The reality of zoonotic pandemics and recovering from them is certainly with us in 2020, and while it will take time to move on from the aftereffects of COVID-19, Australian government agencies Commonwealth Scientific and Industrial Research Organisation (CSIRO) and Austrade have said digital initiatives could allow Australia to recover. "A generation of Australians will train, work, and live in an economy primarily concerned with rebuilding and recovering from the COVID-19 shock. This will characterise government policy and industry strategy," the agencies said in the Global trade and investment megatrends report released on Monday. "Even though the economic conditions are extremely challenging there are good reasons why the Australian and global economies can bounce back. We can achieve the roaring twenties again in the 2020s."


Global Big Data Conference

#artificialintelligence

By using AI, the websites improve user experience with chatbots, web design, marketing strategy, etc. Artificial Intelligence (AI) has become a promising field in recent years. Despite the disruption 2020 has delivered, the opportunities around AI show no sign of losing their momentum. AI is no more science fiction and is already being adopted by public and private organizations globally. People are far away from the mythical thought that AI robots are coming for humans. The fact is, as a society, humankind is relying more on artificial intelligence with its growth.


8 Open-source/ Free Text Mining and Text Analysis solutions

#artificialintelligence

Ever wanted to analyze text documents for documents or articles? There are several tools, web services that provide such services but what about desktop programs? So here in this article, we have collected several tools to help you achieve that, and even more, they are free and open-source as well. We will try to list the specific and unique features per item to make it easy for our readers to pick what they need. Orange is an open-source platform for machine learning, data analysis, text mining and data visualization.