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) …
Bob, CFO of ABC Inc is about to get on an earnings call after just reporting a 20% miss on earnings due to slower revenue growth than forecasted. Company ABC's stock price is plummeting, down 25% in extended hour trading. The board is furious and investors demand answers on the discrepancies. Inaccurate revenue forecast remains one of the biggest risks for CFOs. In a recent study, more than 50% of companies feel their pipeline forecast is only about 50% accurate.
Samsung Electronics is now believed to be upgrading its Bixby artificial intelligence platform following its latest acquisition. The South Korean giant's affiliate has apparently acquired AI search engine startup Kngine. The Investor learned Wednesday that Samsung Research America has acquired a 100-percent stake in Kngine, a startup that develops mobile solutions that understand and answer inquiries with the use of AI including deep learning. The functionality is something that could strengthen Bixby as a whole and set it apart from its rivals, like Siri, Alexa and Google Assistant. Kngine started its operations in 2013 in Egypt.
Artificial intelligence (AI) is an increasingly important part of the financial technology sector, specifically in analysing stocks and providing insights into the markets that human analysts alone can't make. As such, AI-driven funds hold an increasingly large portion of the market, moving this technology into the mainstream. The result is a large opportunity for investors using this technology or investing in the companies producing it. Significant steps are being taken by companies such as AnalytixInsight (ATIXF Profile), whose flagship CapitalCube cloud-based analytics empowers investors to evaluate the potential of companies and portfolios. Other companies are also taking note of AI's increasing value. TD Bank has snapped up a young but highly valued AI company as part of a broader AI strategy, while Helios and Matheson Analytics, Inc. has seen its share price rise as it expands its AI-driven Big Data strategy. Even Thomson Reuters, owner of the original human-driven reporting and analysis company Reuters, has taken an interest in AI analysis, as has Euronext NV, a European stock exchange.
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Newswire) OurCrowd, the leading global equity crowdfunding platform, today announced the launch of Cognitiv, a specialized $100 million global fund focused on early-stage companies that leverage AI, deep-learning, IoT, robotics and digital manufacturing to become tomorrow's category leaders. Cognitiv is the 12th fund to launch for funding on OurCrowd's platform and will give investors access to approximately 20 companies, with initial investments in EquityX, KolGene and FreshKeep.
Britbots, the organisation dedicated to promoting U.K.-based robotics companies, and Sapphire Capital Partners, a specialist manager of tax-efficient funds, today announces the launch of the second British Robotics Seed Fund. The new fund follows the success of the first fund, which has now been fully invested, leading the seed rounds of six high-potential robotics and AI (artificial intelligence) related ventures. The new fund will be predominantly focused on SEIS-qualifying investment opportunities thereby delivering the most significant tax benefits to investors, nonetheless there will be scope for the fund to make a number of investments under the EIS scheme when there are scale-up opportunities for existing portfolio companies. Further information is available at www.britbots.com/fund There has been rapid increase in the number of robotics-related start-ups and the fund looks to partner with entrepreneurs and academic robotics teams to deliver high-value businesses that can deliver superior returns for investors.
When considering a startup, especially an early-stage startup, investors want to conduct as much due diligence as possible. What little data they can gather is scattered all over different sources including Crunchbase, LinkedIn, Pitchbooks, company websites, etc. Consolidating this data takes a great amount of time and effort. Furthermore, the data sets can be incomplete or biased depending on the search queries -- imagine overlooking a keyword. To make the due diligence process fairer and less cumbersome for investors, various platforms are using machine learning (ML) to pull together information about startups from all available resources to help investors assess companies and investment opportunities. But where machine learning really shines is in the interplay of data-driven insights that are qualified by human intuition and personal experience.
The theme of "Artificial Intelligence and the Future of Mankind" was explored at last week's PLSA Annual Conference in Manchester, with renowned AI expert and Oxford academic, Nick Bostrom, who suggested that AI represented the third major revolution in human history after the agricultural revolution and the industrial revolution. His central question: could we make similar leaps forward in performance with the brain and technology? At eVestment, we see a nascent, but growing universe of strategies leveraging AI, scientific approaches and machine learning. We created a custom universe of 29 strategies using keyword search tools and it's easy to see why some in the industry are predicting big things for this approach to investing.
Once the domain of large institutions with deep pockets, artificial intelligence is being adopted by RIAs and fee-based advisors to enhance the human connection with clients -- and gain an edge over the competition -- by transforming every aspect of the customer experience, from the front-end to the back office. Advisors say customer experience is a leading competitive advantage according to the latest Advisor Authority 360-degree Special Report on the DNA of the advisor-investor relationship. Ninety-four percent of RIAs and fee-based advisors say that the customer experience is important to their value proposition because it improves client retention. Both advisors and investors agree that building a personal one-on-one relationship is among the top factors to ensure success. And artificial intelligence is key.