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) …
As the insurance industry adjusts to life in the 21st century (heh), an AI startup that has built computer vision tools to enable remote damage appraisals is announcing a significant round of growth funding. Tractable, which works with automotive insurance companies to let users take and submit photos of damaged cars that are then "read" to make appraisals, has raised $60 million, a Series D that values Tractable at $1 billion, the company said. Tractable says it works with more than 20 of the top 100 auto insurers in the world, and it has seen sales grow 600% in the last 24 months, which CEO Alex Dalyac told me translates as "well into eight figures of annual revenue." He also told me that "we would have grown even faster if it weren't for COVID." People staying at home meant far fewer people on the roads, and fewer accidents.
Technologies like Artificial Intelligence, Big Data, Machine Learning, Telemedicine, Virtual Reality, Augmented Reality, and the Internet of Things play a vital role in shaping the future of Health Tech. The goal is to make it easy for humans to take care of themselves and their overall health. In this article, we'll discuss some of the ways AI, Telemedicine, AR, VR, IoT, and 3D technologies are improving healthcare and have become the driving forces of some medical technologies. One of the top technologies causing a radical change in health tech is Artificial Intelligence. AI is the backbone of all modern emerging technologies.
With approximately 8.6 million people and four official languages (German, French, Italian, and Romansh), Switzerland is uniquely at the heart of Europe but without being a member of the European Union. In global terms, Switzerland does not even enter the top five as an'AI leader'. But when it comes to Europe and its place in the AI race, Switzerland has a claim to be Europe's number one European AI hub (when excluding the UK). From the AI for Good Global Summit in Geneva to the Novartis AI Innovation Lab in Basel, Switzerland has been slowly becoming an epicenter of artificial intelligence in Europe. Founded in 1853, the École Polytechnique fédérale de Lausanne (EPFL) is a research institute and university specializing in natural sciences and engineering.
Today, Stripe is stepping in to fill that need itself: The company is launching a new product called Stripe Identity -- a self-serve tool that companies can use to verify user identities, with Stripe managing the customer data in an encrypted format, using computer vision and machine learning to "read" and match up government IDs with live selfies. Stripe says the service works in as little as 15 seconds. The service is launching in beta starting today in 30 countries, the company said, but in the meantime, it's already quietly been in use by select partners. They include Discord (as part of its ID verification feature); Peerspace (which runs ID verification when onboarding users and merchants); Shippo (when when it identifies high-risk users and asks them to verify themselves); and other unnamed customers using it to prevent account takeovers. Developers can go here to request access, and it sounds like Stripe will be talking more about the service in general during Stripe Sessions, its developer conference, later this week.
Artificial intelligence (AI), Machine learning, NLP, Robotics, and Automation are increasingly prevalent in all aspects and are being applied to healthcare as well. These technologies have the potential to transform all aspects of health care from patient care to the development and production of new experimental drugs that can have a faster roll-out date than traditional methods. There are numerous research studies suggesting that AI can outperform humans at key healthcare tasks, such as diagnosing ailments. Here is a great example, AI'outperforms' doctors diagnosing breast cancer¹. Artificial intelligence is a collection of technologies that come together form artificial intelligence.
AI can transform sourcing and screening from investors' pack mentality, to funding more female founders who build better products and services -- and create higher returns for investors. Venture capitalists know that their advantage lies in identifying the most promising opportunities before their competitors do. This is confirmed by a University of Chicago study by Morten Sorensen, which shows that investors create 60% of their value from the upper part of the funnel, specifically from sourcing and screening. In which case, sourcing and screening must be a constant target for improvement, right? No -- apart from a few VCs who have reinforced their sourcing with web crawlers, sourcing and screening practices have remained the same since the inception of the VC asset class around 1940.
Dataiku has announced a fully-managed online version of its enterprise AI platform to help smaller companies get started. The data science platform enables raw data to be converted into actionable insights through data visualisation or the creation of dashboards and also supports training machine learning models. "Accessibility has always been of the utmost importance at Dataiku. We developed Dataiku Online to address the needs of small and midsize businesses, in addition to startups," said Florian Douetteau, CEO of Dataiku. Historically, Dataiku has targeted large enterprises with the resources to deploy and manage its platform--companies which include Unilever, GE, Cisco, BNP Paribas, and over 400 others.
India is slowly yet steadily taking steps ahead to establish artificial intelligence in several domains. Where, NASSCOM President Debjani Ghosh had mentioned that, in order to make India realize its full AI potential, a coalition of government, industries, and startups are required to come up with the necessary infrastructure and policy support. This will aid in enabling AI innovation across various sectors thereby mentoring and providing financial backing to the startups. In addition, according to a report by Accenture, artificial intelligence is anticipated to add on $957 billion or 15% of India's present GDP value by the year 2035. The amalgamation of technology, information along with the possibility and ability to create intelligent systems has reached critical mass thereby navigating towards exceptional growth in AI investment.