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) …
Accenture has acquired a financial services firm that specializes in using artificial intelligence and robotic process automation in corporate and commercial lending, the company said Wednesday. TargetST8 Consulting, which was founded in 2013, focuses exclusively on the financial markets, serving banks and investment firms in the U.S. and Europe, Accenture said. TargetST8 provides customers with digital lending solutions that include deploying artificial intelligence and robotic process automation, according to Accenture. "TargetST8 consultants are known for their deep expertise, innovative digital solutions and outstanding project delivery--particularly in their implementation of Finastra's Loan IQ solution," said Alan McIntyre, who leads Accenture's banking practice globally. "The addition of TargetST8 will enhance our ability to help our commercial and corporate lending clients improve their processes and transform their businesses."
Ericsson is also looking towards artificial intelligence (AI) and automation to push its business, as the company reported 54 billion Swedish kronor (SEK) (almost $6 billion) in net sales for the third quarter, up from 49 billion SEK in the same quarter last year. Cost of sales for the quarter was 34 billion SEK, down from 36 billion SEK this time last year, while research and development (R&D) expenses were down from 10.5 billion SEK to 9.4 billion SEK. Opex was 16 billion SEK, down from 17 billion SEK. Total net income for the quarter was 2.6 billion SEK, an improvement on the 3.5 billion SEK loss this time last year, with net sales in its Networks division up by 13 percent year on year to 35.9 billion SEK. Across Networks, products were up by 17 percent to 25 billion SEK and services rose by 5 percent to 10.6 billion SEK.
This article was written by a human being who click-clacked on a keyboard until she finished a draft and sent it to an editor. But more and more, computers are taking over. In fact, the Associated Press has used "automation technology" to cover college sports since 2015. The idea isn't new--humans have obsessed over artificial intelligence (AI) since at least the 18th century, when the "Mechanical Turk" hoax led many to believe that a machine could play chess against a person and win. About 250 years later, a machine can play chess against a person and win--every time.
Looking to build up its AI portfolio, Samsung Electronics said it is acquiring Spain's Zhilabs as it charts its transition to 5G wireless networks supporting Internet of Things devices with the Spanish company's AI-based network and service analytics. Terms of the acquisition were not disclosed. The South Korean electronics giant did say it would retain Zhilabs' executive team and that the wholly-owned unit would operate independently. The deal announced on Wednesday (Oct. The deployment of "5G will enable unprecedented services attributed to the generation of exponential data traffic, for which automated and intelligent network analytics tools are vital," said Youngky Kim, president of Samsung Electronics' networking business.
WIRE)--Compulink Healthcare Solutions, the creator of Advantage SMART Practice, an all-in-one EHR and practice management solution powered by artificial intelligence (AI), will demonstrate its rheumatology-specific system, Rheumatology Advantage at this week's American College of Rheumatology's Annual Meeting. Advantage uses AI technology and real-time data from the clinic to completely automate tasks such as billing, along with eliminating steps to improve patient flow. "We expect this release to take our client's efficiency across their entire clinic to a whole new level," said Link Wilson, CEO and founder of Compulink. "Our SMART billing features will reduce the amount of time required to generate and work claims by about 90%. With our SMART workflow engine, we're looking for patient throughput to increase by as much as 15% or more. And with our mobile patient engagement, the ability to engage patients in their own care while growing your patient base is really limitless."
Redtail Technology ("Redtail"), a leading provider of client relationship management (CRM) solutions for financial services firms, today announced the rollout of advanced artificial intelligence capabilities that will enable advisory firms of all sizes to access valuable data and trends about current and prospective clients directly within the CRM. Redtail's machine-learning features will make natural language processing accessible and affordable for the advisory community. Using the concept of "transfer learning," Redtail can utilize smaller amounts of data to begin the learning process. The system then analyzes emails, notes and text messages to predict and estimate client needs, create better outcomes, and discover important connections that enable all parties to make better financial decisions. "Given the volume of data typically required for a machine to start learning, this level of artificial intelligence has only been available at large institutions – until now," said Redtail CEO Brian McLaughlin.
MORRISTOWN, N.J.--(BUSINESS WIRE)--The digital era shift is realigning fundamental elements of business that require major adjustments from insurers in order for them to survive and thrive, according to a new thought leadership report released today by Majesco (NYSE AMERICAN:MJCO), a global provider of core insurance platform software and consulting services for insurance business transformation. A new digital era of insurance focused on innovation and growth requires platform-based business models and solutions to succeed. The report, A New Business Model for a New Era of Insurance: Digital Insurance 2.0 in the Platform and API Economy, highlights the impacts of the shift to a new age of insurance, Digital Insurance 2.0. Underpinning this new era is the shift to the application programming interface ("API") and platform economy, which consists of key technologies such as cloud computing, open APIs, microservices, ecosystems, and data and analytics, which together help insurers create new business models, products and services, connect everything and, most importantly, create new customer experiences. "The digital age shift is now top of mind for every leadership team and board because it is extending an organization's growth and innovation capabilities," remarked Denise Garth, SVP - Strategic Marketing, Industry Relations and Innovation for Majesco.
Today, chips can be manufactured with a wide range of semiconductor IP, ranging from central processing (CPUs) and graphics processing units (GPUs) to power management and other analog devices, arranged on a single slab of silicon like articles on the front page of a newspaper. Not only are SoCs taking longer and longer to design, adding to overall engineering costs, but the manufacturing costs are also mounting. Testing that the hardware and software are functioning correctly is also growing more expensive. Trying to change that is UltraSoC, which has announced a new debugging tool that can evaluate complete SoCs rather than just individual cores. UltraSoC said that the new UltraDevelop tool can trim development costs, save time and even enhance software running on multicore, multithreaded chips using a number of different architectures.
Huawei is not afraid to address the elephant in the room. When US mobile carrier AT&T pulled out of a deal to sell the Mate 10 Pro in January, the CEO of Huawei's consumer business unit, Yu Chengdong (Richard Yu), went off-script at the end of his CES 2018 keynote and tackled the topic head-on. Similarly, when Huawei made artificial intelligence the central theme of its annual Huawei Connect conference in Shanghai, rotating chairman Xu Zhijun (Eric Xu) was quick to bring up the topic of jobs in his opening speech. Concern that robots would replace human workers was a recurring topic throughout Huawei Connect 2018. Speakers addressed the issue during product launches, technical presentations, and panel discussions, offering varying perspectives around the fundamental impact AI will have on the nature of (human) work.