Incorporating artificial intelligence has been a key goal for agencies across the executive branch for quite some time. But now, Congress is considering jumping on the bandwagon as well. Lawmakers on the House Select Committee on the Modernization of Congress are interested in exploring just what AI might be able to help them accomplish. Joe Mariani, a research manager for the Deloitte Center for Government Insights, told the committee during a July 28 hearing about... Incorporating artificial intelligence has been a key goal for agencies across the executive branch for quite some time. But now, Congress is considering jumping on the bandwagon as well.

Explainability has taken on more urgency at many banks as a result of increasingly complex AI algorithms, many of which have become critical to the deployment of advanced AI applications in banking, such as facial or voice recognition, securities trading, and cybersecurity. The complexity is due to greater computing power, the explosion of big data, and advances in modeling techniques such as neural networks and deep learning. Several banks are establishing special task forces to spearhead explainability initiatives in coordination with their AI teams and business units. They are also stepping up their oversight of vendor solutions as the use of automated machine learning capabilities continues to grow considerably. Explainability is also becoming a more pressing concern for banking regulators who want to be assured that AI processes and outcomes can be reasonably understood by bank employees.

Nearly all asset managers using artificial intelligence-based technology in their pre-investment phase said it helped them to generate alpha. A survey from Deloitte Center for Financial Services found that 85% of respondents said using AI-based solutions in the pre-investment stage helped them generate returns. For example, using natural language processing and generation saves time on data collection and allows analysts to focus on interpreting the data. In addition three quarters, 71%, of respondents said they would increase their budget for alpha-generating technologies such as artificial intelligence over the next 12–18 months. Financial services have reached an inflection point, driven by technology, talent, regulation and purpose.

Deloitte has launched the Deloitte Center for AI Computing, designed to accelerate the development of artificial intelligence offerings for its clients. The center is built on NVIDIA's DGX A100 systems to create a supercomputing architecture that will help Deloitte's clients in their efforts to become AI-fueled organizations. The accelerated computing platforms feature NVIDIA graphics processing unit technology, along with its networking and software for advanced data processing, analytics and AI by bringing massive parallel processing capability and speed to deep learning, machine learning and data science workloads, the company said. Deloitte's State of AI in the Enterprise survey found that more than half of respondents reported spending more than $20 million over the past year on AI technology and talent. Nearly all adopters said they were using AI to improve efficiency, while mature adopters are also harnessing the technologies to boost differentiation.

With AI use continuing to grow in adoption throughout enterprise IT, Deloitte is creating a new Deloitte Center for AI Computing to advise its customers, explain the technology and help them use it in their ongoing business and growth plans. Designed to provide a cloud-accessible accelerated platform that Deloitte clients can use to test and explore various AI strategies and tools, the infrastructure for the virtual center will be physically hosted in Deloitte's data center in Hermitage, Tenn., featuring an Nvidia DGX POD with six Nvidia DGX A100 systems as its core. The Deloitte Center for AI Computing will also be equipped with Nvidia Mellanox networking and high-performance storage to help clients create with AI, according to the company. The new facility was announced on Tuesday (March 2). "The Nvidia systems are being deployed this month and the center will be available to clients starting later in March," Nitin Mittal, the AI strategic growth offering leader for Deloitte Consulting, told EnterpriseAI.

William D. Eggers is the executive director of the Deloitte Center for Government Insights. Dr. Peter Viechnicki is a strategic analysis manager and data scientist with the center. This piece is adapted from their new study, How much time and money can AI save government? Government agencies are no exception, and today this requires endless staff hours spent inputting, processing and sharing information across systems. The work needs to get done, so someone has to peck away at a keyboard, right?

There's an old adage that goes, necessity is the mother of invention. This is certainly true in health care where market forces are spurring new innovations in biopharma. Recently, Deloitte published an analysis of some of the boldest breakthroughs likely to impact health care across the spectrum. In the Deloitte Center for Health Solutions' Top 10 health care innovations: Achieving more for less report, we surveyed leaders across the health care system on the innovations they believe will be transformative over the next decade. We define innovation as those activities or technologies that break performance constraints to attain a desired outcome in a way that genuinely pushes the envelope of change.