People walk around in the city of London. Financial institutions are increasingly adopting AI as technological barriers have fallen and its benefits and potential risks have become clearer. Artificial intelligence (AI) technologies hold big promise for the financial services industry, but they also bring risks that must be addressed with the right governance approaches, according to a white paper by a group of academics and executives from the financial services and technology industries, published by Wharton AI for Business. The white paper details the opportunities and challenges of implementing AI strategies by financial firms and how they could identify, categorize and mitigate potential risks by designing appropriate governance frameworks. "Professionals from across the industry and academia are bullish on the potential benefits of AI when its governance and risks are managed responsibly," said Yogesh Mudgal, AIRS founder and lead author of the white paper.

Artificial intelligence (AI) technologies hold big promise for the financial services industry, but they also bring risks that must be addressed with the right governance approaches, according to a white paper by a group of academics and executives from the financial services and technology industries, published by Wharton AI for Business. Wharton is the academic partner of the group, which calls itself Artificial Intelligence/Machine Learning Risk & Security, or AIRS. Based in New York City, the AIRS working group was formed in 2019, and includes about 40 academics and industry practitioners. The white paper details the opportunities and challenges of implementing AI strategies by financial firms and how they could identify, categorize, and mitigate potential risks by designing appropriate governance frameworks. However, AIRS stopped short of making specific recommendations and said that its paper is meant for discussion purposes.

Data analytics helps marketers learn about their customers with target precision, from the movies they watch on Netflix to their favorite scoop of chocolate ice cream. Data is ubiquitous, essential and beneficial -- except when it's not. Experts warn that data analytics is at an inflection point. Growing concerns about security risks, privacy, bias and regulation are bumping up against all the benefits offered by machine learning and artificial intelligence. Layer those concerns on top of worries about the coronavirus pandemic and how it has rapidly changed consumer behavior, and the challenges become clear.

Business leaders and investors universally agree that Artificial Intelligence (AI) and Machine Learning (ML) will transform their businesses by reducing costs, managing risks, streamlining operations, accelerating growth, and fueling innovation. The potential for AI to drive revenue and profit growth is enormous. Marketing, customer service, and sales were identified as the top three functions where AI can realize its full potential according to a survey of 1,093 executives by Forbes. To realize this potential to grow revenues, profits and firm value, businesses in every industry have announced AI focused initiatives. On average, investment in advanced analytics will exceed 11% of overall marketing budgets by 2022.

Business leaders and investors universally agree that Artificial Intelligence (AI) and Machine Learning (ML) will transform their businesses by reducing costs, managing risks, streamlining operations, accelerating growth, and fueling innovation. The potential for AI to drive revenue and profit growth is enormous. Marketing, customer service, and sales were identified as the top three functions where AI can realize its full potential according to a survey of 1,093 executives by Forbes. To realize this potential to grow revenues, profits and firm value, businesses in every industry have announced AI focused initiatives. On average, investment in advanced analytics will exceed 11% of overall marketing budgets by 2022.

Business leaders and investors universally agree that Artificial Intelligence (AI) and Machine Learning (ML) will transform their businesses by reducing costs, managing risks, streamlining operations, accelerating growth, and fueling innovation. The potential for AI to drive revenue and profit growth is enormous. Marketing, customer service, and sales were identified as the top three functions where AI can realize its full potential according to a survey of 1,093 executives by Forbes. Sales organizations are dramatically improving sales performance by using algorithms to help with the basics of account and lead prioritization and qualification, recommending the content or sales action that will lead to success, and reallocating sales resources to the places they can have the most impact. Marketers are looking for AI to fuel enormous efficiencies by targeting and optimizing the impact of huge investments in media, content, products, and digital channels.

A new course, Artificial Intelligence for Business, will be offered by Wharton to undergraduate and MBA students in 2021. An online version of the course launched on Feb. 20. Artificial Intelligence for Business will be the first course to be fully dedicated to studying AI in a business context, said Kartik Hosanagar, a John C. Hower Professor of Technology and Digital Business. Hosanagar, who will be teaching the course, said he believes the new program will allow students who were not previously experienced with AI to become familiar with the field. He said the curriculum will cover the importance of big data, the use of machine learning, and other forms of AI in business.

Kartik Hosanagar A Human's Guide to Machine Intelligence: How Algorithms Are Shaping Our Lives and How We Can Stay in Control (Viking, 2019) This is an odd moment in the history of technology and innovation. Technology companies have never been more powerful or influential. The five most valuable corporations in the world are all American tech giants, and the products they make and the services they provide continue to colonize an ever-larger chunk of our daily lives. Yet that very power has occasioned a serious anti-tech backlash, driven in part by a sense that these companies have too often exercised their might in a cavalier and careless fashion, and in part by anxieties about how their dominance may be hindering innovation. So it's only fitting that this year's best business books on technology and innovation and grapple with the fundamental challenges facing the tech world today -- how to continue to drive radical innovation, how to manage the rise of ubiquitous machine intelligence, and how to make software that's socially useful and beneficial as well as lucrative.

Kartik Hosanagar was ready to turn his home into one of the future. He was looking forward to connecting his thermostat, television, light bulbs and other Internet-enabled smart devices and control all of them with a phone, tablet or just his voice. Hosanagar, a technology and digital business professor at the Wharton School of the University of Pennsylvania, had everything hooked up and the new arrangement went fine for several months -- until one day his television started turning itself on and off. It turned out that a friend who had helped Hosanagar set up his smart home still had access to his home and was inadvertently controlling his TV from his home. "Sometime during the setup, we switched to his phone and used the TV app to set it up," Hosanagar said.

The doggie raincoat was cute the first time around, modeled by an adorable mutt and found through an intentionally clicked link. But then, like an Internet phantom, the canine outerwear kept showing up, in ads along the right-hand side of an email browser, in Facebook, and in several news articles. A product seen on a website visited once reappeared as if multiplying. It's an experience that just about anyone who does anything on the web these days has likely had: Click on a link or visit a website and suddenly, that item follows your electronic path. The strategy is called ad remarketing, and it's intended to capture the 98% of would-be consumers who view a product but don't buy it.