STRATEGY


3 Ways Artificial Intelligence Is Changing The Finance Industry

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By analyzing various data points, machine learning algorithms can detect fraudulent transactions that would go unnoticed by human analysts while improving the accuracy of real-time approvals and reducing false declines. There are several ways that AI chatbots can improve the banking industry, including helping users manage their money and savings. Sentient Technologies, an AI company based in San Francisco that also runs a hedge fund, has developed an algorithm that ingests millions of data points to find trading patterns and forecast trends, which enable it to make successful stock trading decisions. Another hedge fund, Numerai, uses artificial intelligence to make trading decisions.


What Retail and Brand Marketers Need to Know about AI and Customer Journeys

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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.


The Next Addition to Your Marketing Department Should Be a Chatbot

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AI-powered virtual assistants are dedicated pieces of software that implement machine learning and natural language processing to communicate with users. AI-powered virtual assistants can directly help your sales team close more deals by providing them information during a sales call. By analyzing browsing and purchasing patterns, interests, and other relevant demographics, you can qualify prospects and show your sales team where each prospect is located within the buyer's journey. Although developing and perfecting an AI-powered virtual assistant takes time, you can increase your sales conversion rates if you implement it correctly.


More on Dota 2

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On Monday evening, Pajkatt won using an unusual item build (buying an early magic wand). Further training before Sumail's match on Thursday increased TrueSkill by two points. We set up the bot at a LAN event at The International, where players played over 1,000 games to beat the bot by any means possible. The game gave an obscure error message on GPU cloud instances.


AI washing muddies the artificial intelligence products market

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More than 1,000 vendors with applications and platforms describe themselves as artificial intelligence products vendors, or say they employ AI in their products, according to the research firm. When a technology is labelled AI, the vendor must provide information that makes it clear how AI is used as a differentiator and what problems it solves that can't be solved by other technologies, explained Jim Hare, a research VP at Gartner, who focuses on analytics and data science. Companies that want to answer a specific question or problem should use business analytics tools. Over 50% of respondents to Gartner's 2017 AI development strategies survey said the lack of necessary staff skills was the top challenge to AI adoption.


Four Pillars to AI-powered Search in the Digital Workplace, a Guide

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The days of using static intranets for knowledge sharing are gone; today's employees want and need to find information quickly and easily. However, many organizations struggle to incorporate an effective search solution into their intranet or employee community strategy. As demands grow for efficient knowledge sharing, artificial intelligence-powered search engines will become crucial to your organization's digital workplace strategy.


3 strategies for keeping your marketing job in the age of AI

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Artificial intelligence-based marketing tools can now learn, predict, personalize, strategize, make decisions, take action, provide insights and create content. While there is software to clean and optimize data, she said, it is likely there will be a long-term need for marketers with data management skills. Of course, platforms like Aprimo provide tools for managing operations. But, even when a future AI makes today's seem like a three-year old child, someone will need to manage the interaction between technology, money and humans.


Did Elon Musk's AI champ destroy humans at video games? It's complicated

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On Friday night, in front of a crowd of thousands, an AI bot beat a professional human player at Dota 2 -- one of the world's most popular video games. First, we need to look at Musk's claim that Dota is "vastly more complex than traditional board games like chess & Go." While previous AI champions like AlphaGo have learned how to play games by soaking up past matches by human champions, OpenAI's bot taught itself (nearly) everything it knows. Theodorou points out that although OpenAI's bot beat Dendi onstage, once players got a good look at its tactics, they were able to outwit it.


OpenAI bot crushes top players at Dota 2 tournament

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The OpenAI team, supported by tech maven Elon Musk, showcased an AI bot at a tournament in Seattle that decisively beat several of the world's best Dota 2 players in one-on-one matches. On the OpenAI blog, developers boasted that the bot had previously conquered the top 1v1 player in the world and the top overall player in the world. On a far less grander scale, the OpenAI algorithm for Dota 2 was developed by playing many games against itself, also known as "learned bot behavior," and then utilizing techniques that could take human players years to master. The bot then plays against itself for thousands of matches, developing strategies and gaining insight as it goes.


Building the Future of Finance

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Mike O'Hara: Regardless of where in the organization these AI techniques are being used, one of the most fundamental aspects of all of this is data Vincent Kilcoyne: When you look at the process of building and deploying an AI model, it's actually a very interesting world, because if you start off trying to build and trying to create and craft machine learning models – AI models – you need an enormous amount of data to create, craft, test, validate, calibrate, etc. So you can have these running, but for creation purposes you need the terabytes and petabytes; you don't have to have that on a daily basis Mike O'Hara: Aside from data the other important elements in AI machine learning is compute power Michael Cooper: Where can you economically and effectively provide a compute – an aggregated compute most probably – that enables you to efficiently process data? And very clearly in the financial markets context then, a compute for an instantaneous decision as part of a trading strategy is one thing, a compute in order to analyze data, apply intelligence to that data – perhaps to develop strategies or to elicit insight or trends out of data – either because of the volume that you're processing or the multiplicity of data sets that you're aggregating and combining that intelligence – creates some interesting decisions to be made. At the moment, most of the data analytics takes place in financial services data centers.