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) …
We've heard this advice when it comes to everything from what you should order at a new restaurant to who you should marry. But as you might imagine, some decisions are better not left to the gut. That's where technology comes in. Hiring managers, company executives and everyone else in an organization benefit when decisions are informed by data. Christy Pettey at Gartner, however, cautions that there is a balance: Decision-makers must allow technology to complement, rather than replace, gut feelings and natural tendencies.
CHICAGO -- Grant Thornton LLP is collaborating with Microsoft and Hitachi Solutions to turn information into foresight. The collaboration uses artificial intelligence (AI) and machine learning (ML) to help Grant Thornton identify its clients' nascent business needs. Grant Thornton can then design solutions to address its clients' challenges before they balloon. As one of the nation's largest accounting, tax and consulting firms, Grant Thornton works with clients to overcome all manner of hurdles, from financial and operational to technological and risk-related. "We focus on staying ahead of our clients' needs," explains Nichole Jordan, Grant Thornton's national managing partner of Markets, Clients and Industry.
Newton sits underneath an apple tree. History is spiced with Eureka! moments when human understanding leaps forward. Thomas Edison chose a more deliberate approach: Rather than waiting for lightning to strike, he saw innovation as a replicable, continuous process. His facility in Menlo Park, New Jersey, was the first industrial lab specifically designed to produce a continuous stream of commercially viable technology innovations built on new and emerging technologies.1 Of course, the pace of technology innovation today--and its impact on business--is exponentially faster than in Edison's industrial age.
Source: Deloitte analysis based on Deloitte's "State of AI Enterprise, 2nd Edition" survey of 1,900 AI early adopters in seven countries. Note: Percentages may not add up to 100 due to a small number of respondents who answered, "Don't know." AI adoption and spending have been on a global tear over the past several years. In 2019, 37 percent of enterprises say they have deployed AI--an increase of 270 percent from four years ago.1 IDC estimates 2019 global spending on AI to be $35.8 billion, an amount that could more than double to $79.2 billion by 2022.2 In an era when everyone seems to be jockeying for an edge and looking for ways to ward off disruption, AI can be a powerful tool.
"If we properly incorporate artificial intelligence, we can achieve a revolution with regard to sustainability. AI will be the driving force of the fourth industrial revolution," says Hendrik Fink, head of Sustainability Services at PricewaterhouseCoopers, Germany's largest auditing and consulting company. His comment aptly describes the opportunities opened up by new technical developments. In business, for example, it is now common to use systems that analyze and intelligently interpret meaningful data, with one application being the optimization of work and manufacturing processes. In the future, moreover, it will also be in the interest of small and medium-sized businesses to pay attention to sustainability and environmental issues.
CHIEF financial officers (CFOs) and their finance teams need to understand how to anticipate and respond to artificial intelligence (AI), as it will be a key frontier technology to grow Singapore's economy in the years ahead, CPA Australia said on Thursday. The accounting professional body also urged professionals in the sector to upskill, particularly in terms of data mining, extraction and faster interpretation of big data. To help them navigate this digital journey, CPA Australia has published a resource titled Charting the Future of Accountancy with AI, in collaboration with Singapore Management University's School of Accountancy. The practical guide looks at how AI will reshape the accounting and finance sector in the coming years, and what the profession can do to continue to operate alongside the evolving technology and their changing roles. It draws on insights from professional services firms Accenture, Deloitte, EY, KPMG and PwC, as well as the Singapore Management University.
In today's day and age there cannot be a more perfect meeting place for human and artificial intelligence (AI) than human resources (HR). The synergy of the two is all set to transform the way organizations recruit, assess, manage and motivate talent. One has to understand that AI is not set to put HR executives out of work, rather it is set to transform HR departments across organizations. Therefore, it is not surprising that many see AI as having the potential to transform and alter key HR functions, such as recruiting, performance evaluation and capability development. KPMG International's latest global survey The Future of HR 2019, indicates that 60% of HR executives feel "very confident" about HR's actual ability to transform and move them forward via key capabilities like analytics and AI.
Despite all the hype about artificial intelligence, most executives expect that it will take years before the cutting-edge technology gives their businesses a financial lift. Their long-term view was laid out by consulting firm KPMG in a recent survey of 400 executives, all of whom had artificial intelligence projects in progress within their companies. The executives generally said that it would take some time before artificial intelligence pays dividends, signaling a growing realization that the technology won't have the quick impact that many had initially hoped for. Just over half of the executives surveyed, 51%, said it will take three-to-five years before their A.I. projects create a "significant return on investment." That's in sharp contrast to last year's survey, in which only 28% said it would take that long--highlighting how much executives have reconsidered their initial rosy expectations.
Heat, an advertising agency owned by Deloitte Digital, has launched Heat AI. The practice uses artificial intelligence to discover online trends that are predicted to grow in popularity 72 hours before they peak, with a self-reported 70% accuracy rate. The media buying side of advertising has already enlisted artificial intelligence to make planning and buying more effective and efficient. Bain Media Lab, for example, is leveraging computer vision models to more accurately measure the quantity and quality of commercials and sponsorships. The tech places over a billion tags of metadata on TV to identify logos and product placements, while scoring size, clarity, and location.