By 2025, the artificial intelligence (AI) software market will expand from 2021's $33 billion to $64 billion, according to a new report. And cybersecurity is the fastest-growing category of AI spend, experiencing a rise in spending of 22.3% compound annual growth rate (CAGR). "Cybersecurity is the fastest AI software growth category, with a focus on the real-time monitoring of and response to attacks," the report states. The next two categories, customer and human capital management (22%) and process optimization, knowledge, and data intelligence (18.3%), also have cybersecurity elements, so the impact on security tool makers could be even more significant. This comports with the emphasis companies have placed on their AI-enhanced software and services.

In the age of digital transformation, more companies are tapping artificial intelligence (AI) systems to enhance workflows, streamline operations, and more. However, in recent months, these technologies have come under increased scrutiny due to underlying biases in these systems. On Wednesday, Capgemini, a technology services consulting company, released a report assessing consumer and executive sentiment regarding AI and ethical implementation around the globe. "Given its potential, the ethical use of AI should of course ensure no harm to humans, and full human responsibility and accountability for when things go wrong. But beyond that there is a very real opportunity for a proactive pursuit of environmental good and social welfare," said Anne-Laure Thieullent, AI and analytics group offer leader at Capgemini, in a press release.

Two-thirds (68%) of marketers and brand professionals expect to increase the number of marketing technology providers their brand uses this year, with Marketing (31.4%) and IT (30.4%) jointly considered the most responsible for driving martech adoption. That said, a report from Bynder and OnBrand reveals that there are some trends and emerging technologies that marketers feel are overhyped. Presented with a list of 5 trends or technologies and asked which they think is the most overhyped, more than one-quarter (26.8% share) of respondents cited chatbots. This feeling may not be unfounded. Previous research has found that consumers have been slow to adopt chatbots as a communication channel, opting instead for other such as email, online chat and the old-fashioned phone call as a means to communicate with brands.

One quarter of customer service and support operations will integrate chatbot technology – otherwise known as virtual customer assistant (VCA), across engagement channels by 2020, up from less than 2% last year, says analyst firm Gartner. According to research by Gartner, organizations report a reduction of up to 70 percent in call, chat or email inquiries after implementing a VCA. They also report increased customer satisfaction and a 33% saving per voice engagement. And organizations realize this, with more than half of those investing in VCAs doing so for customer service to tap into the advantages of automated self-service and the ability to escalate to a human agent in complex situations. "As more customers engage on digital channels, VCAs are being implemented for handling customer requests on websites, mobile apps, consumer messaging apps and social networks. This is underpinned by improvements in natural-language processing, machine learning and intent-matching capabilities," said Gene Alvarez, managing vice president at Gartner at the Gartner Customer Experience Summit in Tokyo earlier this week.

LONDON (Reuters) - The world's leading drug companies are turning to artificial intelligence to improve the hit-and-miss business of finding new medicines, with GlaxoSmithKline unveiling a new $43 million deal in the field on Sunday. Other pharmaceutical giants including Merck & Co, Johnson & Johnson and Sanofi are also exploring the potential of artificial intelligence (AI) to help streamline the drug discovery process. The aim is to harness modern supercomputers and machine learning systems to predict how molecules will behave and how likely they are to make a useful drug, thereby saving time and money on unnecessary tests. AI systems already play a central role in other high-tech areas such as the development of driverless cars and facial recognition software. "Many large pharma companies are starting to realize the potential of this approach and how it can help improve efficiencies," said Andrew Hopkins, chief executive of privately owned Exscientia, which announced the new tie-up with GSK. Hopkins, who used to work at Pfizer, said Exscientia's AI system could deliver drug candidates in roughly one-quarter of the time and at one-quarter of the cost of traditional approaches.

Exscientia, an innovative company at the forefront of Artificial Intelligence (AI)-driven drug discovery, is pleased to announce it has entered into a strategic drug discovery collaboration with GlaxoSmithKline (GSK). During this collaboration, Exscientia will apply its AI enabled platform and combine this with the expertise of GSK, in order to discover novel and selective small molecules for up to 10 disease-related targets, nominated by GSK across multiple therapeutic areas. Exscientia will receive research payments from GSK to undertake new discovery programmes with nominated targets with the goal of delivering pre-clinical candidates. In addition to research funding, Exscientia is eligible to receive near-term lead and pre-clinical candidate milestones if all objectives are achieved. The total amount payable by GSK to Exscientia on achieving these milestones is £33 million, if all 10 projects are advanced.

The world's leading drug companies are turning to artificial intelligence to improve the hit-and-miss business of finding new medicines, with GlaxoSmithKline unveiling a new USD 43 million deal in the field on Sunday. Other pharmaceutical giants including Merck & Co, Johnson & Johnson and Sanofi are also exploring the potential of artificial intelligence (AI) to help streamline the drug discovery process. The aim is to harness modern supercomputers and machine learning systems to predict how molecules will behave and how likely they are to make a useful drug, thereby saving time and money on unnecessary tests. AI systems already play a central role in other high-tech areas such as the development of driverless cars and facial recognition software. "Many large pharma companies are starting to realise the potential of this approach and how it can help improve efficiencies," said Andrew Hopkins, chief executive of privately owned Exscientia, which announced the new tie-up with GSK. Hopkins, who used to work at Pfizer, said Exscientia's AI system could deliver drug candidates in roughly one-quarter of the time and at one-quarter of the cost of traditional approaches.

The world's leading drug companies are turning to artificial intelligence to improve the hit-and-miss business of finding new medicines, with GlaxoSmithKline PLC unveiling a new $43-million (U.S.) deal in the field on Sunday. Other pharmaceutical giants including Merck & Co. Inc.,Johnson & Johnson and Sanofi are also exploring the potential of artificial intelligence to help streamline the drug discovery process. The aim is to harness modern supercomputers and machine learning systems to predict how molecules will behave and how likely they are to make a useful drug, thereby saving time and money on unnecessary tests. AI systems already play a central role in other high-tech areas such as the development of driverless cars and facial-recognition software. "Many large pharma companies are starting to realize the potential of this approach and how it can help improve efficiencies," said Andrew Hopkins, chief executive of privately owned Exscientia, which announced the new tie-up with GSK. Mr. Hopkins, who used to work at Pfizer, said Exscientia's AI system could deliver drug candidates in roughly one-quarter of the time and at one-quarter of the cost of traditional approaches.

LONDON (Reuters) - The world's leading drug companies are turning to artificial intelligence to improve the hit-and-miss business of finding new medicines, with GlaxoSmithKline unveiling a new $43 million deal in the field on Sunday. Hopkins, who used to work at Pfizer, said Exscientia's AI system could deliver drug candidates in roughly one-quarter of the time and at one-quarter of the cost of traditional approaches. "It's still to be proven, but we definitely think we should do the experiment," said John Baldoni, GSK's head of platform technology and science. "We have an obligation to reduce the cost of drugs and reduce the time it takes to get medicines to patients."

LONDON (Reuters) - The world's leading drug companies are turning to artificial intelligence to improve the hit-and-miss business of finding new medicines, with GlaxoSmithKline unveiling a new $43 million deal in the field on Sunday. Other pharmaceutical giants including Merck & Co, Johnson & Johnson and Sanofi are also exploring the potential of artificial intelligence (AI) to help streamline the drug discovery process. The aim is to harness modern supercomputers and machine learning systems to predict how molecules will behave and how likely they are to make a useful drug, thereby saving time and money on unnecessary tests. AI systems already play a central role in other high-tech areas such as the development of driverless cars and facial recognition software. "Many large pharma companies are starting to realise the potential of this approach and how it can help improve efficiencies," said Andrew Hopkins, chief executive of privately owned Exscientia, which announced the new tie-up with GSK. Hopkins, who used to work at Pfizer, said Exscientia's AI system could deliver drug candidates in roughly one-quarter of the time and at one-quarter of the cost of traditional approaches.