OPPORTUNITY


20% of Indian enterprises use artificial intelligence - Times of India

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BENGALURU: Indian enterprises have been quick to adopt artificial intelligence (AI) with nearly one in five organizations implementing it in some way, said an Intel India commissioned report undertaken by research firm IDC. By mid-2019, about seven in 10 firms are anticipated to deploy AI. IDC surveyed 194 Indian companies across four verticals -- telecom, media & technology (TMT); retail; banking, financial services, & insurance (BFSI) and healthcare. The report said nearly 75 per cent of the firms surveyed anticipate benefits in business process efficiency and employee productivity with the use of AI, and 64 per cent of the respondents believe that this technology can empower them in revenue augmentation through better targeting of offers and improved sales processes. Despite a higher propensity to adopt AI, firms believe they will face a shortage of skills to unlock the opportunities through AI. "We all talk about the opportunity that India presents for AI, but often the types of industries that will embrace AI, the challenges that AI can address, and the roadblocks in implementation, are vague.


Playing emerging tech catch up in the finance function

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CFOs have an opportunity to cut costs, build for the future, and increase data-driven decision making. I've always been surprised at how finance functions treat their own technology spend. Maybe finance executives are more conservative with their own wallets, or maybe they hold themselves to too high a standard. Either way, they tend to invest less in technology than their counterparts in other functions invest--on average, just 13 percent of tech budgets go toward enterprise functions like finance, risk, and compliance, while IT garners 28 percent and sales and marketing gets 24 percent, according to PwC's 2017 Global Digital IQ Survey. Some CFOs, however, are rethinking the digital investment in their own function--especially the investment in emerging tech, such as robotic process automation (RPA), artificial intelligence (AI), and blockchain.


Why AI Could Be Entering a Golden Age - Knowledge@Wharton

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The quest to give machines human-level intelligence has been around for decades, and it has captured imaginations for far longer -- think of Mary Shelley's Frankenstein in the 19th century. Artificial intelligence, or AI, was born in the 1950s, with boom cycles leading to busts as scientists failed time and again to make machines act and think like the human brain. But this time could be different because of a major breakthrough -- deep learning, where data structures are set up like the brain's neural network to let computers learn on their own. Together with advances in computing power and scale, AI is making big strides today like never before. Frank Chen, a partner specializing in AI at top venture capital firm Andreessen Horowitz, makes a case that AI could be entering a golden age.


20% of Indian enterprises use AI - The Times Of India - Mumbai, 2017-12-15

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Bengaluru: Indian enterprises have been quick to adopt artificial intelligence (AI) with nearly one in five organisations implementing it in some way, said an Intel India commissioned report undertaken by research firm IDC. By mid-2019, about seven in 10 firms are anticipated to deploy AI. IDC surveyed 194 Indian companies across four verticals -- telecom, media & technology (TMT); retail; banking, financial services, & insurance (BFSI) and healthcare. The report said nearly 75% of the firms surveyed anticipate benefits in business process efficiency and employee productivity with the use of AI, and 64% of the respondents believe that this technology can empower them in revenue augmentation through better targeting of offers and improved sales processes. Despite a higher propensity to adopt AI, firms believe they will face a shortage of skills to unlock the opportunities through AI. "We all talk about the opportunity that India presents for AI, but often the types of industries that will embrace AI, the challenges that AI can address, and the roadblocks in implementation, are vague.


By 2020, artificial intelligence will create more jobs than it eliminates - Help Net Security

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The number of jobs affected by AI will vary by industry; through 2019, healthcare, the public sector and education will see continuously growing job demand while manufacturing will be hit the hardest. Starting in 2020, AI-related job creation will cross into positive territory, reaching two million net-new jobs in 2025. "Many significant innovations in the past have been associated with a transition period of temporary job loss, followed by recovery, then business transformation and AI will likely follow this route," said Svetlana Sicular, research vice president at Gartner. AI will improve the productivity of many jobs, eliminating millions of middle- and low-level positions, but also creating millions more new positions of highly skilled, management and even the entry-level and low-skilled variety. "Unfortunately, most calamitous warnings of job losses confuse AI with automation -- that overshadows the greatest AI benefit -- AI augmentation -- a combination of human and artificial intelligence, where both complement each other."


AI Changing FinTech Modus Operandi

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Financial payments and banking started in a very inefficient and traditional way, which was slow but still acceptable to the customers due to the stage in the information age. There are lucrative but under-utilised banking opportunities and banks in the region need to step up and grasp these opportunities to succeed otherwise its almost a lost game for them. AI technologies such as machine learning, deep learning, prescriptive learning, predictive analytics, virtual agents and natural language understanding technologies are gaining popularity among progressive banks. AI is not a magic push button and it will never be but as a strategy if one adopt it will take them to new height though, particularly for financial institutions, fintechs and banks where data access and security play a critical role. Competition in Fintech world today at its peak, so adoption of new technologies to stay one step ahead of the competition is no brainier.


Joint Lab on Artificial Intelligence and Computer Vision Established

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The Hong Kong University of Science and Technology (HKUST) signed a Memorandum of Understanding (MOU) with Megvii (Face) yesterday on establishing a joint laboratory on artificial intelligence (AI) and computer vision. The lab will be dedicated to improving people's living and advance knowledge frontiers through researches in AI and image recognition and analysis, marking a new milestone in the collaboration between HKUST and Megvii. Artificial Intelligence is an indispensable part to our future development. As a pioneer in computer vision and deep learning, Megvii, commonly known as Face, possesses world leading hardware technology and algorithm – including "Paying with Face" and "City Skynet" which were widely used in the mainland. Complementing its strength, HKUST also has an internationally recognized profile in computer vision research, in particular its work in object and environment recognition, adding on to HKUST's competency in robotics and autonomous systems as one of the University's five research focuses, the two parties are set to create more innovative applications in AI and computer vision.


Business Models of #WebRTC @CloudExpo @Twilio #IoT #RTC #AI #ML

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WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, introduced the technologies required for implementing these ideas and some early experiments performed in the Kurento open source software community in areas such as entertainment, video surveillance, interactive media broadcasting, gaming or advertising. He concluded with a discussion of their potential business applications beyond plain call models. Speaker Bio Dr. Luis Lopez is associate professor at Universidad Rey Juan Carlos in Madrid, where he works in the creation of advanced multimedia communication technologies.


AI to create more jobs by 2020, says Gartner

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According to Gartner, 2020 will be a pivotal year in AI-related employment dynamics as artificial intelligence (AI) will become a positive job motivator. AI will create 2.3 million jobs in 2020, while eliminating 1.8 million. The number of jobs affected by AI will vary by industry: through 2019, healthcare, the public sector and education will see continuously growing job demand while manufacturing will be hit the hardest. Starting in 2020, AI-related job creation will cross into positive territory, reaching two million net-new jobs in 2025. "Many significant innovations in the past have been associated with a transition period of temporary job loss, followed by recovery, then business transformation and AI will likely follow this route," said Svetlana Sicular, research vice president at Gartner.


Marketing Your Content in the Age of Artificial Intelligence

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As noted in the first chapter of our previous Trends report, artificial intelligence (AI) is now concentrated in the hands of a small group of technology players who control the user discovery path from beginning to end. This level of control by a handful of major corporations is a cause for concern. Fortunately, filter bubbles and advances in recommendation and predictive technologies can be used to your advantage if you know how. " Technology giants, not the government, are building the artificially intelligent future. And unless the government vastly increases how much it spends on research into such technologies, it is the corporations that will decide how to deploy them " As things currently stand, artificial intelligence is more a promise for the future than a fine-tuned cluster of technologies.