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) …
The "smart display" wars are taking off, which means it's time for consumers to ask themselves that modern existential question: Do I need another screen? That's what I was wondering while sitting in the bedroom of a Google employee, whose chic San Francisco home was being used as the backdrop for demos of the company's new Home Hub device. Major tech companies, one after the other, have launched voice-controlled touchscreen gadgets that are meant to live on your kitchen counter, nightstand or living room table. And Google Homes product manager Ashton Udall was showcasing what this particular one does when you wake up and say, "Okay, Google. At this prompt, Google's virtual assistant voiced a greeting, announced the time and weather, then provided an assessment of how bad the commute would be that day. Meanwhile, the bedroom shade -- one of the 10,000 or so smart devices that can sync with the Home Hub -- automatically rolled up. When the assistant is done going through reminders or previewing events on the Google Calendar, it might launch a news reel. This one had been programmed to segue into classical music instead. "In the morning, you're stumbling out of bed, you're getting the cobwebs out of your head," Udall said. "I don't have to go into my phone … You can start just listening." Smart displays, though their capabilities vary, are not replacements for handheld devices. They're meant to be shared. The Home Hub is in many ways a smart speaker with a 7-in. Yet supplanting those handheld devices is a value proposition that Google employees emphasized when I asked why people need this, as if the smart display would function as a Plexiglass partition between me and my smartphone -- servicing many of my basic needs and desires without exposing me to distracting, endless notifications. "The way we designed this is it's there.
Artificial Intelligence (AI) may seem like a sci-fi but AI machines can do some pretty amazing and impossible stuff which humans will never be able to. Today, Artificial Intelligence is changing every aspect of technology. Nowadays, technology is not just about creating tools for practical purposes, it is much more advanced. AI is the latest example of it. From self-driving cars to playing chess, AI has outperformed humans in each and every task with its high tech new, time-tested tools.
The Dow Jones Industrial Average shed more than 1,300 points earlier this month in the most dramatic drop since February. If you are a client of Morgan Stanley MS Wealth Management, you may have received a message from your financial advisor. The purpose of the message would be to tell you exactly what happened in the market and what the firm's investment professionals are saying about it. It would also tell you your portfolio's current probability of success in light of recent events. The email would come from your financial advisor.
Machine Learning (ML) is currently the verge that has the biggest impact on the banking industry. Take a look at how 5 largest banks of the US are using ML in their workflows. The Federal Reserve of the US has recently published an official report on the largest banks in the US. It lists quite a ton of banks, yet we are not surprised by the fact 5 largest and most influential banks of the US are investing heavily into imbuing their services with Artificial Intelligence (AI) and ML. Just to illustrate the efficiency of this approach -- these banks have closed more than 400 of local branches in 2016 and still met their margin thresholds, as mobile banking combined with the ML helped them meet and exceed their customer's expectations.
Digital natives represent approximately a quarter of France's population, i.e. 16 million people. Despite being hyper-connected and able to adopt the latest technologies in the blink of an eye, millennials seek relationships with the perfect combination of human and digital aspects: 82 percent of them agree that we'll never completely outgrow the need for flesh-and-blood consultants!(1) At the same time, they're more demanding than the previous generation when it comes to quality of service and the customer relationship.(2) So, how do we speak the language of the millennials? What if this challenge represented an opportunity for evolution in your customer relations?
While many companies struggle to figure out what to do with AI, a few are emerging as leaders in deploying it, with only a handful succeeding in incorporating AI in the sensitive area of customer relations. The Royal Bank of Canada (RBC) and Israel Discount Bank, using an AI platform from Personetics, are premier examples of how to do AI right, right now. RBC is focusing its use of AI on "solving real customer problems--and the number one source of anxiety for Canadians is managing their finances," says RBC's Peter Tilton, Senior Vice President, Digital. "In finance, like in any other field, people want and expect faster, easier, more accessible and proactive service," says Arik Frishman, EVP and head of the digital and data division at Discount Bank. "AI is the main enabler for all of these," he adds.
Some people already talk to Amazon's virtual assistant Alexa like she's a real person, setting her up for jokes, and having conversations that go way beyond the basic commands like "Alexa, play'Hurt' by Nine Inch Nails." And that's how people are treating a disembodied voice. But what if you could see her -- and what if she looked disturbingly human? Magic Leap, an augmented-reality startup, introduced the next evolution of the virtual assistant at their conference earlier this month. Mica performs many of the same functions as Alexa or Apple's Siri, but when users wear Magic Leap's augmented reality glasses, they can also see her incredibly life-like avatar.
Google today announced its Duplex AI feature will roll out to Pixel 3 owners next month, but that's not the only cool new AI experience they'll get. A new call-screening and response feature will launch with Duplex, and it could mean an end to spam calls. Telemarketers: Your days are numbered. Duplex is the futuristic jaw-dropping AI the company showed off earlier this year that calls businesses to schedule appointments for you autonomously. It's finally making its way to English language customers sometime next month and, along with it, a robust new update to Google's call screening AI is slated for debut as well.
Virtual assistants are a fast-growing phenomenon, not only with the use of consumer products such as Amazon's Alexa, Google Assistant, and Apple's Siri, but as part of automated communications with many industries, such as airlines and banking. The healthcare market has lagged behind, but in September, Nuance and Epic released the first version of a conversational virtual assistant. It operates on Nuance's Dragon Medical cloud-based platform and is available through Epic Haiku, a mobile app for physicians that interfaces with the Epic EHR. The assistant is an upgrade to the app, used by physicians, which provides secure access to clinic schedules, hospital patient lists, health summaries, test results, and notes, while supporting dictation. The immediate impact has the potential to reduce provider burnout, diminish difficulty locating information in the EHR, and change the physician-patient dynamic.
Artificial intelligence (AI) is the latest in a long line of technologies to play a part in the digital transformation of the financial services industry. The potential of this technology is vast: it can cut costs, provide human and systemic efficiencies, boost customer experience, promote loyalty and boost returns. According to business research firm Gartner, the two key components of AI – machine learning and deep learning – will be adopted as the norm within the next two to five years. There is real impetus and enthusiasm for organisations to adopt these technologies. Andy Pardoe, principal director of AI at Accenture Digital UK&I, says: "AI can be used across the entire value chain, from first contact with a potential new customer all the way to providing additional services to long-term customers. This is happening across the front, middle and back office functions."