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Artificial Intelligence Solutions for Banking

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Though banks don't create AI strategies, they are increasingly using artificial intelligence and machine learning in their day-to-day business. We frequently work with them on ideation workshops, PoC, and solution implementation. Santander Consumer Bank, for example, is running workshops and researching how to use machine learning to boost the sustainability of loan portfolios. Besides credit risk modeling, there is already an impressive range of use cases for AI in banking. It covers everything, from customer service to back-office operations.


U.S. Police Already Using 'Spot' Robot From Boston Dynamics in the Real World

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Massachusetts State Police (MSP) has been quietly testing ways to use the four-legged Boston Dynamics robot known as Spot, according to new documents obtained by the American Civil Liberties Union of Massachusetts. And while Spot isn't equipped with a weapon just yet, the documents provide a terrifying peek at our RoboCop future. This browser does not support the video element. The Spot robot, which was officially made available for lease to businesses last month, has been in use by MSP since at least April 2019 and has engaged in at least two police "incidents," though it's not clear what those incidents may have been. It's also not clear whether the robots were being operated by a human controller or how much autonomous action the robots are allowed.


The Role of AI in Tackling Financial Crime

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It enables financial institutions to simplify identifying illicit client relationships, beneficiaries, and links to criminal or terrorist activity during the onboarding phase. FREMONT, CA: Financial regulations globally are cracking down on banks. As Anti Money Laundering and know your customer (KYC) procedures are getting stricter, hefty fines are being imposed on those found to be in breach of the same. Recent studies have discovered that banks across the globe have been charged with a total of USD 26 billion in monetary penalties in Anti Money Laundering (AML) and sanctions violations over the last ten years. As banks and financial institutions continue to search for digital transformation initiatives to streamline and simplify the customer onboarding process and reduce the risk associated with fraud, many are looking to exploit emerging technologies' potential.


Lessons learned from designing and building over 100 chatbots

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Conversational UX is usually touted as the primary core of marketing regardless of the platform or product. With the growing heavy reliance on data to drive sales and engagement, it is evident that customers want to be part of the process. Customers want specialized services and want it built exactly to their taste. Studies have shown that customers are more likely to continue patronizing a brand they feel emotionally connected to and this is what you want when designing your bot. When designing the conversational feel of your bot you want to focus on the pillars of conversational building and build like an architect as suggested by google.


What is Chatbot? Ways Chatbot Can Transform Your Customer Experience - Mobio Solutions

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In the recent era of digital transformation, chatbots have become a buzz word among online businesses. As companies heavily rely on the latest technologies in order to engage the customers and enhance customer satisfaction, chatbots come to great help. It has emerged as an optimum solution for communicating with the customers of businesses and resolving all their queries at all times. Chatbots are actually the software interfaces that enable different business organizations to communicate effectively with their customers online. As businesses cannot afford to have a customer representative who is available all the time for the customers, chatbots are an ideal option.


The Basics Behind Building Machine Learning Solutions

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After decades in research labs, machine learning is now getting enormous attention for real-world applications that harness the technology's formidable power to discern patterns in huge quantities and types of data at high speed: fraud detection, customer 360, facial recognition, workflow management, shopping personalization and much more. The payback of such initiatives can be big. But even greater opportunities lie in creating advanced analytic systems that use machine learning's unmatched ability to see, organize and leverage insights from ever-growing mounds of data to unlock the deep, transformative potential of Big Data and the Internet of Things. To get to the next level of machine learning, companies must develop a sound business case; implement machine learning algorithms for speed at scale; use systems equipped with processors with multiple integrated cores, faster memory subsystems, and develop architectures that can handle massive amounts data in real time. For many organizations, it is an ideal time to build on or begin machine-learning experience, deepen knowledge, and reap the benefits and competitive advantages this sophisticated data analytics technology can provide.


SharePoint Syntex to automate content categorization and build a foundation for knowledge curation

ZDNet

Microsoft announced the general availability of Microsoft SharePoint Syntex as of Oc. 1, 2020. This is the first packaged product to come out of the code-name Project Cortex initiative first announced in November 2019. Project Cortex reflects Microsoft's ongoing investment in intelligent content services and graph APIs to proactively explore and categorize digital assets from Microsoft 365 and other connected sources. Teams need tools to help them collaborate and stay productive while remotely working. SharePoint Syntex will be available to M365 customers with E3 or E5 licenses for a small per-user uplift.


Amazon refreshes Echo lineup with new custom chip

ZDNet

Amazon on Thursday unveiled a refreshed lineup of Amazon Echo smart speakers, featuring a new, custom chip that will help the AI-powered assistant Alexa respond to commands more quickly. The new devices also include a new design and new features for kids. Amazon also unveiled the Echo Show 10, a smart speaker with a screen that can follow you as you move throughout a room. "In processing, milliseconds matter," Miriam Daniel, VP of Amazon Echo, said during a virtual event hosted by Amazon's Devices and Services team. "Imagine asking Alexa to turn on the light, and there's a slight delay," she explained.


Amazon's Alexa becomes a better conversationalist and can now ask you questions, too – TechCrunch

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At its annual hardware event, Amazon today announced new capabilities for its Alexa personal assistant that will allow it to become more personalized as it can now ask clarifying questions and then use this personalized data to interact with the user later on. In addition, Alexa can now join a conversation, too, starting a mode where you don't have to say'hey Alexa' all the time. With that, multiple users can interact with Alexa and the system will chime in when it's appropriate (or not -- since we haven't tested this yet). As Amazon VP and head scientist Rohit Prasad noted, the system for asking questions and personalizing responses uses a deep learning-based approach that allows Alexa to acquire new concepts and actions based on what it learns from customers. Whatever it learns is personalized and only applies to this individual customer.


Spectrum Labs raises $10M for its AI-based platform to combat online toxicity – TechCrunch

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With the US presidential election now 40 days away, all eyes are focused on how online conversations, in conjunction with other hallmarks of online life like viral videos, news clips, and misleading ads, will be used, and often abused, to influence people's decisions. But political discourse, of course, is just one of the ways that user-generated content on the internet is misused for toxic ends. Today, a startup that's using AI to try to tackle them all is announcing some funding. Spectrum Labs -- which has built algorithms and a set of APIs that can be used to moderate, track, flag and ultimately stop harassment, hate speech, radicalization, and some 40 other profiles of toxic behavior, in English as well as multiple other languages -- has raised $10 million in a Series A round of funding, capital that the company plans to use to continue expanding its platform. The funding is being led by Greycroft, with Wing Venture Capital, Ridge Ventures, Global Founders Capital, and Super{set} also participating.