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Infographic: Artificial Intelligence and Benefits Businesses can Reap From it -

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Industries are aggressively investing in the utilization of Artificial Intelligence (AI) software capabilities. According to International Data Corporation's (IDC) Worldwide Semiannual Cognitive Artificial Intelligence Systems Spending Guide, it has been forecasted that this area of technology will grow to $52.2 billion in 2021. Furthermore, the report also stresses that by the year 2021, 75% of the enterprise application will be AI-driven. Hence, organizations should start evaluating AI to see how it will affect their business processes. There are many ways businesses can take advantage of the speed and detailing that Artificial Intelligence offers.


Robotic Process Automation Market Size Estimated To Be Valued At $8,781.2 Million By 2026: Polaris Market Research - Press Release - Digital Journal

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However, factors like reluctance in the transition phase from conventional business process to automation along with shortage in technical expertise required during deployment and integration of RPA solution are challenges which might affect the growth in this market.


Use of AI in Customer Service Doubled in 2018

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Corporate investment in artificial intelligence-powered customer care solutions has nearly doubled in the past 12 months alone, according to a recent study by customer experience consulting firm COPC and Execs in the Know, a global community of customer experience professionals. The research, presented in a report titled "The CX Journey: Understanding Corporate Strategies and Best Practices," found that since 2017 companies have dramatically increased their budgets for use of artificial intelligence (AI)-powered solutions for customer service. The number of companies using such technologies increased from 17 percent in 2017 to more than 30 percent at the end of last year, according to the data. An unrelated study from Gartner, though, shows even greater adoption of AI in customer service. The research firm's data found that 37 percent of customer service leaders are piloting or using artificial intelligence bots and virtual customer assistants (VCAs).


UK ranked second in global government AI league table

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The UK has been knocked from the top spot of a global ranking of countries whose governments are ready to capitalise on artificial intelligence technologies in public services. The UK was narrowly beaten to the number one position by Singapore in this year's Government AI Readiness Index, which the ranking's authors described as a "timely reminder of the ongoing inequality of access to AI". This is the second time the ranking has been produced, with the UK having topped the leaderboard in the first iteration in 2017. Technology consultancy Oxford Insights and the Canadian government-sponsored International Development Research Centre said the 2019 Government AI Readiness Index should prompt governments to "act to ensure that global inequalities are not further entrenched or exacerbated by AI". Unsurprisingly, the upper echelons of the ranking were dominated by higher-income countries with strong economies.


As federal AI spending nears $1B, 2nd wave of agencies consider use cases

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Buzz about artificial intelligence has led to increased spending and put several Trump administration directives in motion, but only a handful of agencies have gotten into the early stages of AI adoption. However, a second wave of agencies may soon launch their own AI tools if they can overcome some common hurdles. The Professional Services Council Foundation, in a report released Wednesday, highlighted some of the challenges and opportunities agencies face in using AI to deliver on their mission. Looking across four agencies -- Defense Department, the General Services Administration, NASA and the Department of Health and Human Services -- the report highlights use cases where program offices have pioneered AI to reduce backlogs or increase the output of their existing workforce. "They've turned to AI to say, 'Are there routine decisions that we make on a regular basis that AI is now competent enough to handle in a way that we can delegate those decision processes to?'" Dominic Delmolino, the chief technology officer at Accenture Federal Services, said Wednesday at a briefing with reporters.


More Than Half of Marketers Say AI Is Not Meeting Their Needs

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That's according to a new survey from Forrester Research and marketing AI platform Albert in which 156 marketers with decision-making power over their respective companies' tech purchases offered their takes on the current state of the AI hype cycle. While marketers have rushed to bolster operations with AI to keep pace with a rapid advancement in the field--adoption has jumped from 43% in 2016 to 88% today--many have reported being hampered by inertial institutional problems like a lack of uniform data or outdated systems. Past reports have claimed that as much as 80% of the average data scientist's time is spent on menial data organization tasks. Forrester's researchers blamed some of the difficulties with AI on the limited scope of brands' use of it. The paper says the vast majority of marketers with AI capabilities use it to surface campaign insights.


India's AI Dream Is Well On Its Way To Become A Reality

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Over the last few years, India has taken significant steps towards adoption of emerging technologies like artificial intelligence (AI) and machine learning(ML), with technology solutions providers, tech leaders, startups and government agencies playing a significant role in shaping the evolution of the technology in the country. According to a recent study, which observed the country-wide AI readiness in the Asia Pacific, India was ranked third in readiness, with its overall readiness score being 50.2 out of100, while Singapore was ranked the first with 63 points and Hong Kong was at the second with 56.5 points. As straightforward as it might sound, AI readiness simply does not refer a country's preparedness in embracing AI, rather, a number of key factors like the ability of its consumers, businesses and government to adopt, deploy and support AI technologies are taken into consideration to better understand the readiness capability of a country in adopting AI. In other words, AI readiness is not a linear process instead, multiple factors shape the outcome. "AI adoption is fragmented and uneven across the region. In some cases, governments' efforts and commitment have yet to be reflected in businesses' or consumers' adoption and usage of AI. In others, business and consumers are taking the lead, showing governments the way forward in terms of change and innovation," Eric Loeb EVP, Global Government Affairs points out in the study.


Congress can bring the government into the age of artificial intelligence

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The reintroduction of the Artificial Intelligence in Government Act this month is a much needed response to concerns that the United States is lagging behind both foreign governments and American industry in reaping the promise and perils of artificial intelligence. Sponsored by a bipartisan group of senators, the bill promotes the adoption of artificial intelligence in the federal government, while addressing the potential negative consequences. A companion bill was introduced in the House. Central to the bill is the creation of an Artificial Intelligence Center of Excellence within the General Services Administration, which will provide the technical expertise, research, and advice to federal agencies on the acquisition and use of artificial intelligence technology, including all of the accompanying "economic, policy, legal, and ethical challenges and implications." A key part of its mission is to direct and assist the agencies in developing and maintaining governance plans for their use of artificial intelligence.


Government AI Council includes representatives from big tech, academia and the public sector

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The government has unveiled the membership of its first AI Council as it attempts to position the UK as a leader in the burgeoning sector. The panel includes representatives from Google, Microsoft and Amazon, as well as data protection groups, academia and the public sector. "[Our AI Council will leverage] the knowledge of experts from a range of sectors to provide leadership on the best use and adoption of artificial intelligence across the economy," the digital secretary Jeremy Wright (pictured) will say in a speech at Viva Tech in Paris on Thursday (16 May). "Under the leadership of Tabitha Goldstaub the Council will represent the UK AI Sector on the international stage and help us put in place the right skills and practices to make the most of data-driven technologies." It is expected that the council will eventually draw together a wider group of representatives to address issues facing the UK's AI sector, such as data and ethics, adoption, skills and diversity.


What is Cognitive Computing? How are Enterprises benefitting from Cognitive Technology?

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AI has truly been a far-flung goal ever since the conception of computing, and every day we seem to be getting closer and closer to that goal with new cognitive computing models. Coming from the amalgamation of cognitive science and based on the basic premise of simulating the human thought process, the concept, as well as applications of cognitive computing, are bound to have far-reaching impacts on not just our private lives, but also industries like healthcare, insurance and more. The advantages of cognitive technology are well and truly a step beyond the conventional AI systems. According to David Kenny, General Manager, IBM Watson -- the most advanced cognitive computing framework, "AI can only be as smart as the people teaching it." The same is not true for the latest cognitive revolution.