investment


AI Weekly: $102 million and machine learning's theory of general relativity

#artificialintelligence

While these moves point to AI one day becoming ubiquitous for business tasks, Google's release of an academic paper called "One Model to Learn Them All" shows another route for machine learning to become commonplace. The paper describes a single machine learning template -- dubbed the MultiModel -- that can perform multiple tasks exceptionally well. The company's product offers automated guidance so that people writing job descriptions are able to maximize their response from interested and qualified applicants. In the report, researchers at the Facebook Artificial Intelligence Research lab describe using machine learning to train their "dialog agents" to negotiate.


The core of artificial intelligence is people

#artificialintelligence

Like many artificial intelligence companies in Canada, PeopleAnalytics.ai was happy to see the federal government's launch of its Pan-Canadian Artificial lntelligence Strategy for research and talent as part of the federal budget this year. The $125-million that the Liberals are committing to the project, to be administered through the Canadian Institute For Advanced Research (CIFAR), is expected to help to attract and retain top academic talent in this country. Canada placed fourth in total funded AI startups (45 total) in 2016, versus nine other nations with significant AI infrastructures. On top of talent acquisition, he says Canada needs to continue to provide access to capital for companies like PeopleAnalytics.ai, He points to AI programs such as those launched by Royal Bank of Canada, in conjunction with the Alberta Machine Intelligence Institute, and Canadian Imperial Bank of Commerce, which is increasing spending on developing financial technologies, as leaders in this space.


How AI Machines Could Save Wall Street Brokers' Jobs

#artificialintelligence

Morgan Stanley's recent decision to partner 16,000 financial advisers with algorithms that can identify trades and prod brokers to reach out to clients is evidence of yet another in-road being made by machines into human roles. For these digital disruptors, their mastery of machine learning would make it relatively easy for them to enter finance -- arguably far more easily than financial advisers could enter the field of machine learning. Thus, for Wall Street's biggest brokerages such as Morgan Stanley, AI becomes a tool for wealth management. But as Morgan Stanley and other Wall Street firms embrace more AI, trust in wealth advisement is likely to become a triangulated relationship.


Uber's Other Big Problem: Driverless Cars Aren't Ready Yet

MIT Technology Review

For the past eight years, Uber's chief executive officer and co-founder Travis Kalanick played the role of disruptive entrepreneur with wild abandon--and to great effect. If the privately-held company were to go public in the future at anything approaching its current valuation of around $60 billion, taking a bite out of the $40 billion a year global taxi business would be table stakes. By improving its brand and improving relations with drivers, Uber can reverse recent declines in its share of the ride-hailing market, and generate tens of billions in annual revenue by taking share from the $40 billion global taxi industry. On Monday, the Japanese investment company Softbank announced a $100 million investment in 99.


Softbank ups investment in security AI firm Cybereason » Banking Technology

#artificialintelligence

Softbank has upped its investment in security firm Cybereason, as the focus on artificial intelligence (AI) continues, writes Banking Technology's sister publication Telecoms.com. The additional $100 million investment from Softbank now makes the firm the largest investor, with CRV, Spark Capital, and Lockheed Martin also involved. An AI-driven security solution can work continuously and more efficiently than a human, but also use machine learning to access content on the internet to learn about potential attacks it could face. This isn't about replacing humans because an AI is cheaper, it is a job which simply cannot be done by the security team; with the number of access points, the task is too much to ask for.


CONNECTED: Insurtech and IOT

#artificialintelligence

The "CONNECTED: Insurtech and IOT" event to be held in Milan on June 15th @ Microsoft House, will be centered around one of the most exciting topics of 2017: the evolution of the insurance world through new technologies like Artificial Intelligence, Social Networks, Augmented Reality and IoT. Gartner currently predicts some 8.4 billion connected things in 2017, to reach 20.4 billion Internet of Things (IoT) devices by 2020. The graph above by Venture Scanner highlights venture investing trends into the Internet of Things (IoT) sector, with data through April 2017. In the meantime Insurtech startups are creating new businesses in 14 categories with a total funding up to date of 18Billion according to Venture Scanner data, with $417 million raised between January and March 2017.


Uber's toxic culture risks its driverless future too

#artificialintelligence

Scandal after scandal has hammered the company in recent times, culminating in an external investigation into a corporate culture accused by a former female employee of being rife with sexism, aggression and inequality. So make no mistake, Uber's investors have calculated the company's toxic culture under Kalanick's leadership is a risk to their long term investment. The message from Uber's investors is clear: aggressive tech bros out; responsibility, accountability, empathy and diversity in. Uber's most recent valuation is $70BN -- although it's not clear what portion of value investors are attaching to its autonomous long term vision.


Flipboard on Flipboard

#artificialintelligence

The company would prefer to also offer a booking experience that users will find more congenial and convenient. Consumers navigating a platform like Airbnb experience a catch-22, said Fontana: "Marketplaces are most useful when they have a lot of volume, because you can find exactly what you want, but marketplaces are also the most time-consuming and annoying when they have the most volume." One of the primary success metrics is the platform's conversion rate -- how many people make a booking. Curtis did reveal that introducing a deep neural net to the search-ranking system boosted Airbnb's existing conversion rate by 1 percent.


How Artificial Intelligence Enables Content Marketing at Scale

#artificialintelligence

Artificial intelligence (AI) can improve the return on investment by automating and scaling up content campaigns. Artificial intelligence provides the missing link, enabling publishers and brands to focus on creating quality content and connecting it to the right audience at scale. The first step in reaching a targeted audience at scale is identifying your marketing goals. AI can power content marketing at a high return on investment by connecting content with audiences at scale.


How traditional industries will reap the benefits of machine learning

#artificialintelligence

Traditional industries possess a wealth of historical data due to the established operational processes already in place. While traditional methods of optimisation would require the introduction of new equipment or technologies, often leading to significant expenditure with no or little guaranteed return on investment for several years, with machine learning companies are able to increase efficiency in just a matter of months and with no capital investment. Through this ability to deliver more precise predictions and recommend the best options for routine, repetitive processes, AI brings tangible improvements. But as we await this revolution – one bound to take several decades and several billion in financial investment to completely reveal its full potential – businesses should focus on another AI applications which can come to benefit in a matter of months.