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) …
Where once banks and credit unions routinely left technology to specialists, the subject now has become elevated to the highest-ranking issue impacting retail banking. Research by The Economist Intelligence Unit (EIU) for Temenos finds that coping with new technology is the top concern of retail bankers, ahead of changing consumer behavior, political and economic instability and dealing with bad loans, among other factors. No institution can afford to ignore the combination of new competition from fintechs and big technology companies, multiple new technologies, and soaring consumer expectations is bringing unprecedented change to retail banking that And few are ignoring it, as the EIU survey indicates. However, the how quickly and how extensively organizations respond varies sharply by institution and sometimes even by country. In a study of 161 publicly traded banking institutions around the world, Accenture found that just over half are "digital laggards," with no plans to go digital or just "half-hearted efforts."
Do chatbots, robots and digital assistants intrigue you? What about automated vehicles and virtual assistants? AI is a field of computer science that focuses on the creation of a machine that can replicate human behaviour. The science fiction of yesterday quickly becomes reality. AI statistics surrounding the business and tech industries are changing.
As soon as the words "AI" and "music" are used in the same sentence, one comes across skepticism. If robots are making call centre jobs useless, one is scared to think of what would happen to all the musicans who are anyway underpaid. "In the world of personalisation and on-demand services, music is one of the very few remaining static artefacts," says Ken Lythgoe, head of business development at creative AI technology company MXX, based in London, England. The company has created the world's first AI tech that allows individual users to instantly edit music to fit their own video footage, complete with rises and fades. According to Lythgoe, AI doesn't need to be the enemy of music, and instead of replacing us, AI can empower us.
According to the "Accenture Technology Vision for Energy 2019" report, the energy industry continues to play catch up with changing consumer expectations and the pace of digital transformation. Technology companies are larger (as measured by market capitalization) and are looking to disrupt all sectors including energy. Accenture says the energy industry will need to defend itself from these disruptors at a time when it is experiencing diminishing returns (despite widespread cost efficiencies) and increasing investor and activist scrutiny. The report argues that a combination of emerging technologies known as "DARQ"--distributed ledger (blockchain), artificial intelligence (AI), extended reality (XR) and quantum computing--will become the foundation for the industry's future. According to Accenture, tomorrow's energy industry leaders are already investing in the digital ecosystems of the future and the next wave of emerging technologies.
Aerospace & Defense Industry to See Greatest Impact from Artificial Intelligence Compared to Other Key Emerging Technologies, Accenture Report Finds Study underscores the need for reskilling in the sector for future competitiveness NEW YORK; June 13, 2019 – The aerospace and defense (A&D) industry will be more affected by artificial intelligence (AI) than by any other major emerging technology over the next three years, according to Aerospace & Defense Technology Vision 2019, the annual report from Accenture (NYSE: ACN) that predicts key technology trends likely to redefine business. The study also underscores the growing importance of reskilling programs as a competitive lever. AI, comprising technologies that range from machine learning to natural language processing, enables machines to sense, comprehend, act and learn in order to extend human capabilities. One-third (33%) of A&D executives surveyed cited AI as the technology that will have the greatest impact on their organization over the next three years -- more than quantum computing, distributed ledger or extended reality. In fact, two-thirds (67%) of A&D executives said they have either adopted AI within their business or are piloting the technology.
The acquisition brings Tableau's analytics and Salesforce's AI-powered Einstein platform together, which the press release claims "will deliver the most intelligent and intuitive analytics and visualization platform for every department and every user at any company". "We are bringing together the world's #1 CRM with the #1 analytics platform. Tableau helps people see and understand data, and Salesforce helps people engage and understand customers. It's truly the best of both worlds for our customers--bringing together two critical platforms that every customer needs to understand their world." Accenture (NYSE:ACN), along with digital services provider Avanada, has been recognized in a recently published report from IDC (International Data Corporation) for its leadership in worldwide Microsoft implementation services.
IBM (NYSE:IBM) has announced the launch of Watson Ads Builder, an AI-powered ad developer that creates a dialogue between the brand and consumer. The platform employs natural language processing to enable fast and accurate conversation with the consumer. "Consumer expectations are shifting, and people expect the ability to communicate with brands on demand. Watson Ads Builder can change where, when and how brands connect with consumers - helping marketers increase loyalty and purchase consideration." Accenture (NYSE:ACN) has teamed with auto company Faurecia and tech firm Affectiva to develop the Connected Car Lab - "a digital product and service innovation facility that fits into a car ... to ideate, test and develop applications and experiences for the car cabin of the future".
Today's tech-enabled marketplace has brought a fever pitch of innovation, creating ease in many ways, but also changing human interactions foundationally. We're more digitally connected than ever but opportunity for meaningful engagement sometimes appears to have been lost in the digital fray. As we settle into this new norm, aspiring innovators have the privileged responsibility of examining how change has impacted human lives around us and the opportunity to improve our day-to-day with technology instead of being ruled by it. A case study in potential for disconnect, Sweden has been recently deemed one of the loneliest cities on the planet, with an estimated 250,000 residents living alone. Swedish heating, cooling and energy company, Stockholm Exergi wanted to extend their commitment to "making Stockholm a warmer place" by influencing social good and inspiring positive change for its citizens.
At the Google Cloud Next conference on Wednesday, Google is rolling out a slew of AI and smart analytics tools. The tools are focused on applying AI to common business challenges such as structuring data from documents or forecasting inventory. First, Google announced AI Platform in beta -- an end-to-end development platform that helps teams collaborate on machine learning projects. It's built for developers, data scientists and data engineers, enabling them to share models, train and scale workloads from the same dashboard within Cloud Console. Next, Google is rolling out new versions of Cloud AutoML, the software that automates the creation of machine learning models that Google announced last year.