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) …
Improved performance is of prime concern for any business or enterprise. Together, AI/Machine learning technologies are viewed as the most impactful technology given its wide applicability and promise of addressing complex business problems across the value chain. Logistics, initially, was one aspect of management but in this era of the profound transformation, it is becoming one of the most disruptive fields across the globe. Leading companies have already started using the Artificial Intelligence and machine learning to fine-tune core strategies such as warehouse locations, as well as to enhance real-time decision making related to issues like availability, costs, inventories, carriers, vehicles and personnel. The potential of AI and Machine learning is not only enhancing everyday business activities and strategies but also is streamlining the logistics on a global scale.
Countering digital fraud is a lot like playing whack-a-mole: As soon as one fraudster is taken out, two more pop up where they're least expected. Fighting bad actors is particularly challenging for those in the banking industry, which lost more than $31 billion to fraud in 2018 and is projected to lose even more as cybercriminals become more sophisticated. The popularity of digital banking services has created ample opportunities for bad actors, leaving banks scrambling to protect themselves against the rising tide of fraud. Faster payments have also contributed, as banks now have less time to identify fraudulent transactions. It's nearly impossible for human analysts to examine every sign of malfeasance with banks processing millions of transactions each day, but that is exactly where learning technologies like artificial intelligence (AI) and machine learning (ML) can help.
It's one thing to bring conversational bots and robotic process automation (RPA) into business applications. But the strongest opportunity for innovative companies is in combining these capabilities. I discovered how some market leaders have already found this exponential power during one session at the recent SAPPHIRE NOW and ASUG Annual Conference. "It's the convergence of these technologies that provide the opportunity for a better experience, as well as the ability to apply machine learning technologies to create an ever-learning enterprise, applying knowledge and skills acquired from that machine learning technology to create the Intelligent Enterprise," said Shawn Brodersen, global vice president and SAP CTO at HCL Technologies Ltd. One pharmaceutical company improved workforce engagement with intelligent RPA and conversational artificial intelligence (AI).
Since its founding in 1910, Japanese company Hitachi has been at the forefront of innovation with a philosophy to contribute to society through "the development of superior, original technology and products." Today, Hitachi is a multinational conglomerate that offers operational products and services as well as IT-related digital technologies such as artificial intelligence and big data analysis. Its artificial intelligence and machine learning technologies are impacting not only their own services and products but how other industries such as healthcare, shipping, finance operate. Announced in 2015, H is Hitachi's solution for a generalized artificial intelligence technology that can be applied to many applications rather than just built for a specific application. H supports a wide range of applications and can generate hypotheses from the data itself and select the best options given to it by humans.
The technology sector is set to benefit from a £18.5 million cash injection to drive up skills in AI and data science and support more adults to upskill and retrain to progress in their careers or find new employment. Up to 2,500 people will have the opportunity to retrain and become experts in data science and artificial intelligence (AI), thanks to a £13.5 million investment to fund new degree and Masters conversion courses and scholarships at UK academic institutions over the next three years. The ground-breaking Adult Learning Technology Innovation Fund, which will be launched in partnership with innovation foundation Nesta, will provide funding and expertise to incentivise tech firms to harness new technologies to develop bespoke, flexible, inclusive, and engaging online training opportunities to support more people into skilled employment. Companies across the tech sector already employ more than 2.1 million people, contribute £184 billion to the economy every year and inward investment to the UK AI sector stood at £1 billion for 2018, which is more than Germany, France, Netherlands, Sweden and Switzerland combined. To further strengthen the sector, Government is investing in data-driven technologies, such as artificial intelligence, through the modern Industrial Strategy, so tech businesses and people with the drive and talent can succeed.
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The government has announced an investment of up to £18.5m to support efforts to enhance diversity in artificial intelligence (AI) and data science roles. Part of a wider plan to upskill the UK workforce as part of the AI Sector Deal to position the country as a leader in use of the technology, £13.5m of the total funding will go towards up to 2,500 AI and data science conversion courses for professionals who have degrees in other disciplines, as well as 1,000 scholarships. The programmes will aim to support applications from professionals returning from a career break and looking to retrain, as well as under-represented groups in the digital workforce, including women and those from minority ethnic or lower socio-economic backgrounds. Around £5m will be invested into the Adult Learning Technology Innovation Fund, to be launched in partnership with innovation foundation Nesta, which will seek to encourage companies to use AI and automation to improve online learning platforms aimed at helping adults retrain. "The UK has a long-standing reputation for innovation, world-leading academic institutions and a business-friendly environment. Everyone, regardless of their background, should have the opportunity to build a successful career in our world-leading tech sector," said digital secretary Jeremy Wright.
Machine Learning (ML) is a popular buzzword in the field of technology and recently it has entered the eLearning space as well. Machine learning enables computers or machines to make decisions that are data-driven, eliminating the need for explicit programming to execute a task. Machine learning makes use of algorithms that are designed to improve over time depending on the new data they'll be tracking. What if I tell that you've already experienced the benefits of ML without realizing that it's machine learning at work? For instance, if you have tried online food delivery platforms such as UberEATS, have you wondered how the app is able to predict an estimated time of delivery or display a list of popular restaurants near you?