New research, just published in "Marketing Trends across Retail and Consumer Goods," reveals current retail marketing trends and what it will take for brands to adapt to this new reality. The majority of retail and consumer goods marketing leaders (71%) believe customer journeys are the primary vehicle for improving the customer experience. To deliver on truly connected customer journeys, it's critical that retail and consumer goods marketers provide continuity and context that bridge the physical/digital divide. AI will not only revolutionize the customer experience with the ability to more accurately predict, recommend, and exceed customer expectations, but also provide retail and consumer goods leaders the opportunity to compete (and even thrive) with industry disruptors like Amazon.
Businesses ranging from startups to large corporations are increasingly looking to new technologies, like artificial intelligence (AI) and machine learning, to protect their consumers. AI can provide an effective way to stop advanced and sophisticated malware attacks that have never been seen before. There's also a real opportunity for advanced phishing attacks by automating the human bad guy. Prepare is about building a proper cybersecurity program taking a risk based and business approach to security.
Henri Waelbroeck, director of research at machine learning trade execution system Portware, says rather poetically that the system "reads the tea leaves" in market data to distinguish different sorts of orders and execute trades more efficiently. This framework enables the deployment of deep learning techniques, essentially processing data through an architecture of agents; each processes the information at their disposal and produces an output which is then consumed by the next agent and so on. Combining these in different ways enables you to create potentially interesting model architectures," he said. Newsweek's AI and Data Science in Capital Markets conference on December 6-7 in New York is the most important gathering of experts in Artificial Intelligence and Machine Learning in trading.
We stand at the dawn of the fourth industrial revolution, an idea that will see new breakthroughs thanks to advancements in areas including artificial intelligence, robotics, quantum computing, 3D printing and the Internet of Things. Others look at it as an equation in which artificial intelligence plus big data equals the fourth industrial revolution. Companies that invest in all three areas -- AI, IoT and big data -- stand a good chance at becoming leaders and innovators in the fourth industrial revolution. Another sunnier vision of the future suggests big data, machine learning and AI could create a society in which everyone lives in luxury.
Take KPMG's recent global CIO survey in conjunction with recruiter Harvey Nash, which found almost two-thirds of CIOs are investing or planning to invest in digital labour, which broadly covers robotics, automation, and artificial intelligence. The survey suggests digital leaders are investing in digital labour at four times the rate of other executives. Scope CDO Mark Foulsham is similarly customer-focused and believes AI could help his charity make smarter decisions. He believes developments in machine learning and automation run alongside attempts to exploit big data.
Most of what we found was positive techno-friendly Narratives, but there are also very real, deeply held beliefs about AI as a threat to humanity, human jobs and human privacy that need to be addressed. As of last year, 10 percent of Americans considered AI a threat to humanity and six percent considered it a threat to jobs, though the former number was declining and the latter was rising. Doug is Founder & CEO of Protagonist which is a high growth Narrative Analytics company. Protagonist mines beliefs in order to energize brands, win narrative battles, and understand target audiences.
We need to make improvements both in terms of hardware and software so that robots can autonomously perform tasks that human's perform today." They are focused on creating software that makes robots more autonomous, so eventually they are able to perform tasks on their own with little human supervision or intervention. Using the Valkyrie Robot, Padir's lab is working on creating motion using combinations of arm, wrist, finger and thumb movements that collectively accomplish a task. Padir is aware that as robotic technology advances, robots may start to become utilized in jobs that are more routine in the manufacturing, transportation, and other industries.
The EPSRC Principles of Robotics, British Standards' BS8611, IEEE global ethics initiative and IEEE P7001 – Transparency in Autonomous Systems are some of the current guidelines being used by the industry. Interestingly, DeepMind and OpenAI have collaborated on research into an algorithm that can reinforce machine learning, based on human preferences. Chohan adds that Natera, which is involved in genetic testing, filed the most patents for AI and machine learning related ethics or morality, mainly because it is concerned with the use of extremely personal patient data. According to Chohan, the number of artificial intelligence patents concerning ethics or morality spiked in 2014 – when the European Union's General Data Protection Regulation was being widely discussed, particularly the "right to be forgotten".
Building successful virtual assistants requires a combination of magic and logic. Automation of manual processes, particularly in legacy businesses with legacy technology, has significant cost base implications. Without a sustainable capability model, businesses are struggling to attract people with the relevant skills, particularly when trying to compete with Google, Amazon and Facebook. While developing internal data analytics capabilities, migrating data from silos into an extensible cloud solution and building key strategic partnerships may not provide visceral evidence of progress in the short term, it is vital to long term sustainable success.
Noted FinTech author Chris Skinner suggests that AI and machine learning means banks must analyze and leverage customer data into actionable knowledge--but that's virtually impossible if your data is in disarray. AI is increasingly becoming the way for leading financial services to provide everything from customer service to investment advice, says PwC's Mike Quindazzi. "But before going down the path of building and implementing solutions leveraging AI and similar tools, financial institutions must ask themselves where they're falling short in regard to providing their customers true lifetime value around their finances," Leimer adds. Jay Palter is the chief engagement officer at Jay Palter Social Advisory, based in Calgary.