The development of artificial intelligence will reshape our lives in a variety of ways in the coming years. In the summer, I'd discussed why and how investors should seek out exposure in this space. A recent report from Grandview Research projected that the global artificial intelligence market would achieve a mammoth compound annual growth rate (CAGR) of 42.2% from 2020 through to 2027. Today, I want to look at two tech stocks that have already made fortunes for investors. Both have a great shot to continue this trend in the months and years ahead.
Last week a lot of people got their first taste of an in-the-wild encounter between organic human life and one of Boston Dynamics' advanced robots. In Northern Ontario, Canada @bloodtear noticed the Spot robot walking down the street and had an encounter that wouldn't have been odd if it had been with a real dog instead of a robot copy. After their brief interaction flashed across social media and made a few headlines, Boston Dynamics issued a statement about the interaction. According to the company, the robot was on an "evening stroll" with a handler who was "conducting routine mobility tests," and Nathan explained in other tweets that the operator was following behind with a remote control We're still waiting to see more real-world applications for the company's various robotic ventures, but now that they're on sale, you can expect to see more people bumping into these devices going forward.
If you could play god to an emerging artificial intelligence, would you? That's the moral dilemma at the heart of Agence, an interactive "dynamic film" that blends virtual reality, gaming, and cinematic storytelling to let audiences influence a handful of evolving, three-legged AI creatures, known as agents. The project, which recently debuted at the Venice International Film Festival, is a co-production between Toronto-based indie studio Transitional Forms and the National Film Board (NFB) of Canada. Think of it as Tamagotchi for the 2020s, but with real consequences on the development of digital life. "I think the core artistic vision of this is to cause people to question humans' role in artificial intelligence," says Pietro Gagliano, creator of Agence and founder of Transitional Forms, "both in its creation and interaction right now. These are virtually living creatures that are learning. This is a moment that I hope that we look back on in time as, you know, we made the right choices. And we decided to empathize with these creatures that didn't ask to be born."
In a restaurant landscape where lean profit margins are getting even slimmer due to the necessary COVID-19 safety measures of distancing, staying afloat is an increasingly difficult challenge. Small wonder, then, that some operators are using whatever means they can to stand out from their competition. Robot waiters, although not a new phenomenon, are making headlines around the world again, but this time with a socially distanced twist. At Claypot Rice, a Chinese restaurant in Calgary, robot greeters and servers chat with guests, take orders and run food from the kitchen. These are typically three distinct roles performed by humans, a fact not lost on owner Alex Guo.
Artificial intelligence (AI) involves the simulation of human intelligence through programming machines or creating software to think similar to humans and mimic their actions. In other words, AI research seeks to develop technology that is capable of learning and problem solving the same way that a human would. Though the idea itself can be traced back to antiquity, AI has become increasingly popular in recent years, with ever-evolving applications across many Canadian industries. To this end, read on for IBISWorld's evaluation of how two up-and-coming ventures have the potential to affect the operations of different industries in Canada. In London, ON, a new AI tool called the Chronic Homelessness Artificial Intelligence model (CHAI) analyzes points, such as age, gender, family and shelter history, to assess the chance that a particular individual will become chronically homeless over the next six months.
SFU researchers have received $300,000 in funding from Innovate BC's Ignite Program to develop technology that allows farmers to grow more food with fewer synthetic pesticides. The research project commenced earlier this year and involves a collaboration with Vancouver-based agtech company Terramera's Actigate technology platform, which aims to reduce global synthetic pesticide use by 80 per cent by 2030. "The growing world population needs more food and we need to grow food that is environmentally sustainable," says SFU computing science professor Martin Ester, who is the principal investigator for the project. "One approach is to develop organic pesticides that are as effective as chemical pesticides, but less harmful to the environment." Distinguished for his research in the fields of data mining and machine learning, Ester was named a Royal Society of Canada (RSC) Fellow last year.
From cancelled conferences to disrupted supply chains, not a corner of the global economy is immune to the spread of COVID-19. Customer service has been under enormous pressure, and financial services firms such as Nationwide Building Society in the UK and the Royal Bank of Canada have launched chatbots to deal with the unusually high volume of requests. However, digital teams in financial services firms should remain wary of deploying chatbots and voice assistants faster than their customers are ready for them, or than their systems can support. To better understand chatbot capabilities in financial services, we evaluated the chatbot offering of over 150 global financial services firms. We also analyzed consumer sentiment and adoption of chatbots in Europe and North America.
The Salish Sea, which extends from British Columbia to Washington State in the U.S., was once home to hundreds of killer whales, also known as orcas. Now, the population of Southern Resident Killer Whales, a subgroup of orcas, is struggling to survive--there are only 73 of them left. Building on our work using AI for Social Good, we're partnering with Fisheries and Oceans Canada (DFO) to apply machine learning to protect killer whales in the Salish Sea. According to DFO, which monitors and protects this endangered population of orcas, the greatest threats to the animals are scarcity of prey (particularly Chinook salmon, their favorite meal), contaminants, and disturbance caused by human activity and passing vessels. Teaming up with DFO and Rainforest Connection, we used deep neural networks to track, monitor and observe the orcas' behavior in the Salish Sea, and send alerts to Canadian authorities.
The excitement of using Artificial Intelligence has not dwindled from the time it has been unfolded. In KPMG study on “living in the AI world 2020: achievements and challenges of AI across 5 industries (retail, financial service, healthcare, transportation, and technology), revealed that 92% of respondents agreed that leveraging the spectrum of AI technologies will make their companies run more efficiently. Amidst the admiration towards AI, IBM created the Women Leaders in AI program in 2019. This was a way to acknowledge the women leading in AI and encourage females to lend a hand in the field of AI. Through this IBM, planned to make the efforts of the honourees more visible to the world. 2020 IBM women leaders were honoured for outstanding leadership in the AI space. Here is the list of women leaders in AI 2020 honorees:- Aarthi Fernandez Who is a Global head of Trade Operations and SEA Trade COO at Standard Chartered Bank? She is a C-suite executive with deep insight on how digitalization can positively disrupt US$17 trillion global trade. She is into deploying AI/Machine learning to make trade financing simple, faster, and better for corporate clients and mitigate compliance risk. Piera Valeria Cordaro She is a commercial Operations Innovation Manager, Wing Tre S.p.A., Italy. She is a speaker, advocating the use of AI in customer operations. Along with her team and with support by IBM Watson, implemented two chatbots, to improve customer experience. Both bots have made it possible to handle a million queries efficiently. Amala Duggirala Who is the enterprise Chief operation and Technology officer, Regions Bank, United States. To handle customers’ inquiries she deployed IBM Watson’s assistant- virtual banker persona, ”Reggie”. From the time of its implementation 4.3 million customer calls have been answered, with 22% of them being handled by AI. Mara Reiff Vice President, Strategy and Business Intelligence, Beli Canada, Canada. She used AI to improve operations, loyalty, and brand. She worked with IBM to install Watson studio Local using Red Hat open shift. This resulted in smarter, fast decision-making with improved customer experience leading to increased sales. Mara suggests everybody to “Make sure to stop and smell the roses. Take each opportunity to learn something new and embrace change”. Amy Shreve- McDonald She is lead Product Marketing Manager for Business Digital experience, AI&T, USA. EVA (Enterprise Virtual Agent) was launched in February 2019, to improve customer chat experience, it uses Watson assistant. This system has been able to handle 45% chats on its own, resulting in reduced costs and expanding 24/7 support. She also received AT&T’s 2019 Visionary Award for her work advocating EVA. Ryoko Miyashita Manager, customer service department, customer service section JACCS CO., LTD Japan. She launched a Watson-enabled operator onboarding tool, that resulted in reduced new operator training period by 30%. The tool has increase customer satisfaction. Her advice to the younger self is “It is important to believe in yourself, but it is equally or more important to believe in people around you. I would encourage myself to have many experiences and garner knowledge to objectively evaluate things, not blindly accept or exclude others’ opinions”. Carol Chen She is Vice President for Global Marketing, Global Commercial, Royal Dutch Shell, United Kingdom. Along with her team, Carol is partnering is planning for digital transformation with the creation of “Oren”- a Smart Minning Platform, by partnering with IBM. This platform will offer an innovative and creative experience for users in the sector to deliver connectivity and integration across the ecosystem. To use AI, she advice commencing with analyzing the business outcome that one wants and customer pain points that one can cater to. The next step would be to determine how to leverage AI and data to solve the problem. Rosa Martinez Cognitive Project Manager, CiaxaBank, Spain. For those who consider using AI, her advice to them is ‘first to understand the business case as it may take time more than expected. This phase can result in a non-AI project example a ‘software as usual’. But moving further with the project there can be more AI application for sure to work on’. Lee- Lim Sok Know Deputy Principal, Temasek Polytechnic, Singapore. Under the leadership of Sok Keow, The higher education institution in Singapore ‘Temasek Polytechnic’ launched the “Ask TP” chatbot in January 2018. The chatbot helped current as well as prospective students to get answers to the questions asked about Temasek and also gave personalized course advice. In the 1st two weeks of 2020, ‘Ask’ TP’ responded to more than4,351 questions. She suggests everybody “deeply appreciate ‘people’ as they are the most critical asset in an organization, and a leader must develop a team”. Itumeleng Monale Executive Head of Enterprise Information Management Personal and Business Banking, Standard Bank of South Africa, South Africa. By deploying many analytical tools in her organization, she can uplift the revenue of the company. Through models of analytics relationships, bankers are experiencing a 40% revenue uplift when comparing to their peers. She sees AI as a tool through which business delivery can be accelerated, value could be added to human capital and relationships can build further. With this AI era, Research has postulated that corporate giants still have less percentage of women in the technical department. Facebook’s diversity report suggests that there are 22 % of women in the technical department and 15 per cent of women work in the AI research group. Similarly, Google’s diversity report suggests that only 10% women are working on “machine intelligence”. There is a need to encourage women participation as there are many more women around the world, stepping out of the pre-existed sheathe and going beyond the walls to shape the future. Opening up the AI platform for all will fetch us more talented beings which can help us celebrate the use of AI in different fields and different ways. Reference:- https://www.ibm.com/watson/women-leaders-in-ai/2020-list https://advisory.kpmg.us/content/dam/advisory/en/pdfs/2020/technology-living-in-an-ai-world.pdf About the author:- Kirti Kumar is a budding HR professional currently pursuing PGDM in HR and Marketing at New Delhi Institue of Management. She looks forward to opportunities that can hone her skills. She is agile in her attitude with versatility in her action
Yoshua Bengio is recognized as one of the world's leading experts in artificial intelligence and a pioneer in deep learning. Since 1993, he has been a professor in the Department of Computer Science and Operational Research at the Université de Montréal. He is the founder and scientific director of Mila, the Quebec Institute of Artificial Intelligence, the world's largest university-based research group in deep learning. He is a member of the NeurIPS board and co-founder and general chair for the ICLR conference, as well as program director of the CIFAR program on Learning in Machines and Brains and is Fellow of the same institution. In 2018, Yoshua Bengio ranked as the computer scientist with the most new citations, worldwide, thanks to his many publications.