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) …
You could be forgiven for wondering why AI is so big all of a sudden. Hasn't humankind been dreaming about human-like robots for a long time? The first Star Wars film (with crowd-pleasing'droids' R2D2, C-3PO) was released in 1977; Terminator (starring Arnold Schwarzenegger as a cyborg assassin) was a massive success in the mid -1980s, a few years after Blade Runner (starring synthetic – or not? The idea of an intelligent machine is not exactly a new one, yet our ability to create something with Artificial Intelligence has increased dramatically in the last decade or so. There is now scope to use AI to make legal assessments, create games, predict purchases, navigate through traffic, translate words into different languages and diagnose diseases.
Insurance is now ready for an AI-based analytics platform that can help minimize claim costs and improve customers' claims experience. Insurtech and artificial intelligence (AI) have become the new buzz words and mantra in the insurance industry. Creativity and innovation are thriving in Silicon Valley with more than 1,600 technology companies in the insurtech space for underwriting and claims. If you remember, back in the 1990s, experts predicted that if your company was not an internet company, you would not be around for long. That prediction came true, but what about the current prediction that artificial intelligence for claims will change the insurance industry?
Due to the fact that telematics monitoring is almost standard in most vehicles these days, it is possible for AI to track the exact location of a car and automatically dispatch emergency assistance, should it be determined that an accident has taken place. Furthermore, the future use of driverless cars will integrate seamlessly into assistance centres, with AI diagnosing the problem and then digitally dispatching assistance, should it be deemed necessary. It is also becoming widely accepted that AI will be able to generate unique policies for each customer, based on their preferences and risk profile. AI-enabled assistance services will be able to render assistance services to these products without the risk of getting tied up between the different policy exclusions and limits. When we look at what is happening in the insurance industry currently, it is clear that it is in its Fourth Industrial Revolution.
Britain's map maker is demonstrating that machine learning isn't all hot air – but has discovered just how much donkey work is involved. The Ordnance Survey set up an ML experiment to identify roofs from its remote sensing data (satellite and aerial imagery), and found the trial reached 87 per cent accuracy within a week, from a standing start. That's still less accurate than humans (at 95 per cent), but that's not the point – it could process thousands in the time it takes a human to do one. "Your mission, should you choose to accept it, is to classify this roof..." [Source: Ordnance Survey] "It does have the potential to revolutionise our operations," an OS spokesman enthused. The week-long prototype isn't ready for deployment because it isn't yet accurate enough, but it promises to accelerate visual data analysis.
Narayana develops AI applications that can cut down customer problem resolution by a factor of 10. This is what I heard and saw from Bejoy Narayana, CEO of BoodsKapper, at the recent SAP Financial Services Innovation Summit held at the SAP Leonardo Center in New York. The Texas-based startup develops AI applications on SAP Cloud Platform designed to not only ferret out what customers want quickly, but also communicate in their preferred medium – using any texting app or moving to a telephone conversation. "No one likes calling customer service, and we believe that experience can be much better by training the software to behave like the ideal customer service representative, getting to the point quickly to provide a solution for busy people," said Narayana. "Modeling the actions of a company's best customer agent, we can train the AI engine to be up and running in weeks just as you would a new employee.
The tech is increasingly becoming ubiquitous across all industries from the automotive industry, fintech, social media, ecommerce to even entertainment. We are living in the age of big data, as increasingly more enterprises invest in AI and machine learning -- a branch of AI which is in its simplest definition is a form of data analysis -- startups are taking notice and disrupting whole industries by employing that tech. With that in mind, here's everything you need to know about the artificial intelligence (AI) and machine learning tech ecosystem in South Africa. There are a large number of South African startups using AI-related technologies in their software solutions. Here below is a list of some of the more well-known startups -- some of which have developed cutting AI solutions, or potentially disruptive technologies using AI.
Digital disruption is leaving no industry untouched, irrespective of geography. Digital disruptors and cloud natives are radically transforming business models. Digital transformation is no more a buzzword. We see technology evolving like never before and accelerating in scope and reach. While the year 2017 more or less stabilized new technologies, the coming year could see a significant incline.
A year after Spiros Margaris last spoke to bobsguide, we invited him back to see whether his predictions for 2017 had come true. We also talked about whether ageism is an issue in fintech and what exactly is needed to make a successful startup, as well as which ingredients make the best technologies. You've been named fintech's most influential voice in countless tables - does this confine you to a consultancy role? Would you consider revisiting your start-up past? I'm invested in several startups but I wouldn't want to pursue a more hands-on role.
Capgemini has developed a holistic approach to automation which can help help insurers to re-think, re-design and re-configure their core business operations. The approach combines Lean methodologies with Robotic Process Automation (RPA) and Artificial Intelligence (AI), and helps the insurer to work out where and how they should use these technologies – or not. Complete the registration form to receive our POV, which includes the key success factors for RPA projects in insurance. If you would like to speak with a Capgemini RPA for Insurance expert, email Carolee Dagenais at email@example.com to schedule a meeting. Visit our Insurance Website to learn more about the services and solutions that Capgemini's Financial Services delivers to clients, which represent 70% of the world's largest insurers.
This year, whiz kid Ke Jie, the world champion of Chinese national pastime GO, was soundly defeated by a computer powered by Artificial Intelligence. Jie described it as a "horrible experience," but it highlighted the tremendous potential AI has in fields such as gaming – and far beyond. One such field is medicine and healthcare, where we are beginning to reap the benefits of technology that has the potential to impact billions of lives around the world. Here are five health-related industries poised to be revolutionized by Artificial Intelligence in 2018. For doctors, analyzing a patient's records – many of which are still handwritten – often involves the time-consuming task of going through a lifetime's history of notes, lab results and prescriptions.