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) …
Fast food, real estate, military operations, even home improvement -- many large industries will have to shift their strategies in the wake of driverless cars. It's all but a certainty that autonomous or driverless vehicles will be widely used in the United States at some point over the next two decades. Already, over two dozen major corporates including Google, Apple and Mercedes Benz are hard at work building their own self-driving vehicles. Tesla's Model S already includes an autopilot mode where the car drives itself on highways. Car ownership and driving habits are being completely reinvented. We'll explore the growing number of mobility technologies that are set to transform the current transportation ecosystem.
So, you are into e-commerce & struggle to keep up with Amazon (which boasts the #1 app among Millennials and Centennials and made over $ 43 billion in Q3 2017)? Don't worry, your competitors face exactly the same problems – and turn to Artificial Intelligence to solve them. Discover how using e-commerce AI solutions can help you deliver the ultimate shopping experience, reduce operating and staffing costs and boost revenue. IBM Watson commerce, Facebook/WeChat chatbots, Amazon recommendation engines and other "cognitive commerce" solutions are powered by artificial neural networks – that is, algorithms modelled on biological neural networks that process data, learn from it and make smarter decisions. The types of data you can feed to a neural network range from CRM records to your website usage stats; the intelligent algorithms classify data patterns and predict consumer behavior and KPIs based on past events.
Gartner predicts that in 2020, organizations using AI tech will achieve long-term success 4 times more than others. Considering the exponential expansion and influence of AI and its exceptional value, adopting this technology is no longer a choice, but a need, for organizations. "The language of business is revenue, and that is completely tied to pipeline creation and progression," says Paula Parkes, Director Marketing, Asia Pacific, Adobe. Drop-off can be as high as 98% for some businesses, especially financial services, resulting in a meagre 2% conversion. AI tech is being successfully used to engage website visitors or prospects calling a company IVR, quickly provide information that aids their purchase process, guide them in filling forms, collecting info, etc. Organizations have reported huge reductions in lead drop-off along the marketing funnel and significant increase in conversion rates post implementing AI tech.
Apple Inc.'s next breakthrough may be powered by Augmented Reality (AR). A recent report by Bloomberg outlines Apple's'big step' towards the AR space through talented hires and acquisitions in the related field. According to the report, with the goal of making smart glasses, in the short term, Apple's AR features may first show up on the iPhone. Bloomberg's report comes after its November story published last year, which highlighted Apple's wearable expansion into'digital glasses'. The AR industry is gaining momentum and could be a huge global market worth $90 million by 2020.
All of us have heard about driverless cars, automated machines, bots and virtual assistants, even if we don't fully understand what these terms mean. All of these are manifestations of self-learning algorithms, smart technologies such as Artificial Intelligence (AI) and Machine Learning (ML). The application of these technologies is no longer just limited to sci-fi movies and erudite research papers. Directed by data-driven insights from these powerful technologies, traditional decision-making by experienced professionals is slowly being transformed. Let's take a look, then, at this metamorphosis that AI is ushering in across business functions such as marketing.
In recent years, the ability of data science and machine learning to cope with a number of principal financial tasks has become an especially important point at issue. Companies want to know more what improvements the technologies bring and how they can reshape their business strategies. To help you answer these questions, we have prepared a list of data science use cases that have the highest impact on the finance sector. They cover very diverse business aspects from data management to trading strategies, but the common thing for them is the huge prospects to enhance financial solutions. Risk management is an enormously important area for financial institutions, responsible for company's security, trustworthiness, and strategic decisions.
Artificial intelligence and machine learning are leapfrog technologies, transforming the way payment processors, banks, online businesses and others are interacting with current and prospective customers. They far exceed human intelligence and intuition, and can verify the identity of the person on the other end of an online transaction and detect fraud. However, there are limitations, shortcomings and misapplications of data science that can impact results. To produce reliable and accurate decisions, AI and machine learning depend on three basic elements. The first is good data.
Box and IBM are rolling out two new services for building custom Box Skills with Watson smarts. First announced in October, Box Skills provide a framework for applying machine learning to the Box cloud content management platform. The aim is to use AI to help customers extract insights and additional value out of their Box content. IBM signed up as a Box Skills partner at launch and is now introducing new services that leverage Watson Visual Recognition and Watson Natural Language Understanding. The image insights skill analyzes image data, marks it with classifiers and trains custom visual models to pull insights.
Amazon is increasingly claiming territory once held exclusively by department stores - and it's doing so again, essentially placing a dressing room in your house. The retail giant has officially launched service for Prime members that allows them to try on the latest styles before they buy at no upfront charge. Customers have seven days to decide what they like and only pay for what they keep. Amazon announced Tuesday, June 20, 2017, that it's testing a new service for its Prime members that lets customers try on the latest styles before they buy at no upfront charge, take seven days to decide and only pay for what they keep Shipments arrive in a re-sealable box with a pre-paid label for returns. The company had been gradually rolling out the service to Prime members in the US over the course of the year.
This month's Tech Tracker takes a closer look at stealth AI tech used by TGI Fridays to personalize marketing Thank God, it's AI at TGI Fridays. While most casual-dining brands are betting big on customer-facing tablet technology, TGI Fridays is investing in artificial intelligence to harvest data that will drive diner frequency. Guests of the Dallas-based chain can now use a variety of social media platforms to place an order. From that customer interaction, TGI Fridays is using AI to identify ordering patterns, and that information is used to personalize marketing. If a guest order ribs through any of the platforms, for example, that data can be used to create future invitations based on that customer's food preferences, said Sherif Mityas, Fridays chief experience officer.