INDUSTRY


Artificial Intelligence, FinTech, Millennials PYMNTS.com

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"AI can enable banks to deliver a more personal, engaging and richer customer experience that replaces the physical world of branches into a digital world that becomes proactive and personalized in the way it forges relationships with customers, custom-building solutions for them." Given these figures, and varying degrees of purchasing power, and interest in trying out new technologies in everyday settings, millennials seem to have the upper hand. As such, the move to integrate more technology into everyday banking efforts will help manage the financial health for today's millennial and hopefully enable future generations to enjoy the same level of comfort as the baby boomer age group. In AI news this week, AI tech startup ThoughtSpot shared news that it had completed its $120-million round of funding with the final $60 million piece.


How AI isn't as Bad as You Think For Your Hotel - Naully Nicolas

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Today, it is all about creating outstanding and unique experiences from trip planning through to check-out and their return home.It is starting with the first casual visit to the website, presenting personalized options and recommendations, to capturing user preferences and behavior in the process to book a room, leading to the actual guest experience at the hotel, capturing details on the food ordered and usage of other amenities, there is a sea of information that could be intelligently used to create superior guest experiences in the future. This is where Artificial Intelligence becomes an infinitely powerful medium to invisibly and unobtrusively capture the zillion data points for thousands of guests and convert these to contextual, analytical, actionable insights to be used for a great experience at every point of the customer lifecycle. Hotels of the now and future greatly need a connected platform and ecosystem that is constantly acquiring, contextualizing, processing and analyzing customer data, and turning it into predictive and actionable insights for generating a superior guest experience. This data can be leveraged by hotels for analytics to determine guest personas and create customized services, communications and promotional offers that provide targeted and unique experiences.


Visualizing the Massive $15.7 Trillion Impact of AI

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For the people most immersed in the tech sector, it's hard to think of a more controversial topic than the ultimate impact of artificial intelligence (AI) on society. In the below infographic, we look recent projections from PwC and Accenture regarding AI's economic impact, as well as the industries and countries that will be the most profoundly affected. According to PwC's most recent report on the topic, the impact of artificial intelligence (AI) will be transformative. For that, we turn to Accenture's recent report, which breaks down a similar projection of $14 trillion of gross value added (GVA) by 2035, with estimates for AI's impact on specific industries.


Charles W. Bachman

Communications of the ACM

Charles William "Charlie" Bachman, the "father of databases" who received the ACM A.M. Turing Award for 1973 for creating the first database management system, died June 13 at the age of 92. Born in Manhattan, KS, in 1924, Bachman earned his B.S. in mechanical engineering in 1948, as well as an M.S. in mechanical engineering from the University of Pennsylvania. He went to work for Dow Chemical in 1950, using mechanical punched-card computing devices to solve networks of simultaneous equations representing data from Dow plants. In 1957, Bachman became head of Dow's Data Processing Department, through which he became a member of Share Inc., and a founding member of the Share Data Processing Committee. In 1960, Bachman joined the General Electric (GE) Production Control Services Group in New York City, using a factory in Philadelphia to test designs for a system to automate factory planning, scheduling, operational control, and inventory control. The resulting MIACS was based on the ...


Computational Thinking Is Not Necessarily Computational

Communications of the ACM

Computation is a process that is defined in terms of an underlying model of computation, and computational thinking is the thought processes involved in formulating problems so their solutions can be represented as computational steps and algorithms." If we replaced it with similar words, like "procedures" or "sequences," we would arrive at such vacuous "definitions" as, say, "Medicine is a process that is defined in terms of an underlying model of medicine, and medical thinking is the thought processes involved in formulating problems so their solutions can be represented as medical steps and procedures." And "Drama is a process that is defined in terms of an underlying model of drama, and dramatic thinking is the thought processes involved in formulating problems so their solutions can be represented as dramatic steps and sequences." If such influence is indeed the basis for a comparison, then additional covariates should be controlled for, including the mean estimated valuation per patent, number of employees in the industry, and additional financial and industry-specific characteristics.


Story of Anima Anandkumar, the machine learning guru powering Amazon AI

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Our Techie Tuesdays protagonist of the week, Anima has worked towards establishing a strong collaboration between academia and industry. Anima worked on solving this problem of tracking end to end service level transactions. She wanted to design learning algorithms that can process at scale and make efficient inferences about the underlying hidden information. When Anima joined UC Irvine as a faculty, that time was the beginning of the big data revolution.


How Watson AI is helping companies stay ahead of hackers and cybersecurity attacks - Watson

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AI can make a huge difference in threat detection, which is why the IBM Security team introduced IBM QRadar Advisor with Watson, combining the cognitive capabilities of Watson Discovery Service and Watson Knowledge Studio with the industry-leading security offerings of IBM. Integrating AI into security systems will be critical so companies can analyze large volumes of data, in real time. The benefit of AI for cybersecurity is to reduce the time and manual effort required by humans to process large volumes of data, so their time and expertise can be focused on more complex, sophisticated tasks and decision-making. With Watson Discovery Service integrated into your systems, you can continuously explore, discover and learn from real-time data, and use powerful cognitive search, natural language processing, domain adaptation and machine learning to empower your analysts not only to keep up, but get ahead of hackers and cybercrime.


AI will have an enormous impact on the future economy

#artificialintelligence

For the people most immersed in the tech sector, it's hard to think of a more controversial topic than the ultimate impact of artificial intelligence (AI) on society. In the below infographic, we look recent projections from PwC and Accenture regarding AI's economic impact, as well as the industries and countries that will be the most profoundly affected. According to PwC's most recent report on the topic, the impact of artificial intelligence (AI) will be transformative. Get rich, visual content on business and investing for free at the Visual Capitalist website, or follow Visual Capitalist on Twitter, Facebook, or LinkedIn for the latest.


Artificial intelligence and digital communication are disrupting the contact center space

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The customer service (contact center) space is accelerating faster than the market has ever seen up to this point. They're turning the conservative call center space into cutting-edge contact centers by helping them give up the expense and complexity of their hosted gear for easy-to-use, budget-friendly software as a service products in the cloud. But even as those channels have steadily reduced the inbound call volume over the last five years, it hasn't been until the recent resurgence of artificial intelligence that contact center operators have seriously questioned their entire operations model. To put that in perspective, that's somewhere between a third and a half of the total projected cloud contact center software market value in the same time frame.


Robot Funeral: Human-Like Bot 'Pepper' Can Perform Last Rites

International Business Times

Japanese plastic molding maker Nissei Eco Co. created software for Pepper The Robot enabling the humanoid to chant Buddhist mantras and recite sutras typically performed by monks at funerals. The robot displayed its funeral rite capabilities – including sutras chanted in a computerized voice and a drum ritual -- at a Wednesday funeral industry event in Tokyo, the Life Ending Industry Expo. Pepper's two 2D cameras, 4 microphones, 2 speakers, and engaging hi-res tablet allow it to engage with you in seamless interactions #robots pic.twitter.com/L0On14A8EX Softbank Robotics' various worldwide branches have touted Pepper for being able to "engage with you in seamless interactions." Buddhist priest Tetsugi Matsuo told Reuters he visited the Life Ending Industry Expo to see if Pepper was up to the task for bringing the "heart aspect to a machine because I believe that the'heart' is the foundation of religion."