Latest AI Opinions
Clara Durodie’s company, Cognitive Finance Group, is spearheading the intelligent and ethical use of AI in the finance and banking sector. The Big Data & AI World speaker talks us through her life, ambitions, and the pervasive problem of AI ignorance…
Like many new technologies, Artificial Intelligence (AI) brings us countless potential benefits while introducing a whole raft of new dangers. Dr Juergen Rahmel, Chief Digital Officer at HSBC Germany and an AI researcher, argues that a coherent approach to ethics is needed in this fast-expanding field. “It comes down to the decision: of all that we could do, what is it that we should do?”
At root, implementing ethical governance of AI is no different to businesses promising not to pollute rivers or use child labour. It is about “conducting business not only in an individually profitable manner, but also following a holistic approach which serves the collective.” Rahmel, who will be speaking at Big Data & AI World in London this March, focuses on ethical governance for AI at HSBC. What has he learnt?
We need to stop defining ourselves by what we do We tend to think about work in terms of “jobs”. You are a programmer, a doctor, a consultant, or a lawyer. When we introduce ourselves, convention dictates we talk about our jobs rather than who we are. The shorthand of our titles allows us to… Read More
Today, IT within the healthcare industry is undergoing profound changes. This has been driven, in part, by the development of advanced new treatments, including robotics, analytical imaging and robust data networks, which enable the lessons learned from pioneering medical practitioners to be distributed to peers around the world, more rapidly than ever before.
For healthcare providers, ensuring a quality environment of patient care is paramount. New technologies—from digital imaging to security-enhancing baby finders to “always-on” wearable technology—are helping to reduce errors, improve care, and decrease costs simultaneously.
In the 2019 Global Health Care Outlook Report Deloitte states that, “there is an exponential increase in the pace and scale with which digital healthcare innovations are emerging. Digital technologies are supporting health systems’ efforts to transition to new models of patient-centered care and helping them develop ‘smart health’ approaches to increase access and affordability, improve quality, and lower costs.”
We live in a data-saturated world. But data only matters if you can turn information into action. To get from one to the other, you need to tell a story about your data that any person at your company can understand.
Why? Because numbers and charts don’t motivate people to seek better outcomes. Stories do.
So how do you tell these stories?
Here are ten mistakes to avoid in order to tell a good story (about your data) that will drive strategic business.
According to the 2019 Gartner fourth annual Chief Data Officer (CDO) Survey, the implementation of a data and analytics strategy was ranked the third most-critical success factor when it comes to a CDO’s organisation.
When it comes to data, we’re all aware of the four ‘Vs’ – variety, velocity, veracity and volume – yet for many organisations, their data warehousing infrastructure is no longer equipped to handle them. Additionally, value, the fifth ‘V’, is even more elusive. So, taking into account the scale of data that many modern companies have means that meeting these challenges requires a new approach – with automation being the foundation.
Over the past few decades, technological advances have enabled telecom service providers to consolidate their network infrastructure. The reduction in equipment size, coupled with an improved ability to bridge larger distances, has also allowed service providers to reduce their data centre footprint.
But with the reduction in data centre sites, the modern facility has also become comparatively supersized and energy hungry, mainly due to the never-ending increase of network traffic. To mitigate this challenge, companies such as Verizon are turning to machine learning and data analytics to improve the energy efficiency of facilities.
Cyber-Physical Systems (CPS) are a mix of computation, networking and physical processes, in which the embedded computational algorithms and networks have the power to monitor and control the physical components.
By using a combination of machines, sensory devices, embedded computational intelligence and various communication mechanisms, CPS monitor physical elements with computer-based algorithms tied to the internet. This means they are capable of autonomously functioning based on their physical surroundings.
In light of advancements in analytics, artificial intelligence (AI) and communications, there is increased demand for intelligent machines that can interact with the environment around them, such as driverless cars which monitor and communicate with their surroundings, and smart appliances that optimise energy consumption. CPS are stimulating significant changes in quality of life and forming the basis of smart infrastructure, products, and services.
As this kind of technology continues to become more integrated into our everyday lives, here are four areas of CPS we can expect to come to the fore.
The market has long demanded quicker and more convenient payment methods, and the industry is now answering with ubiquitous payments. Yet at what cost? PSD2 and open banking are now established in the legislative framework, and many third-party providers are springing up with new offerings that democratise access to payments and offer complementary value-added services.
Banks and other financial organisations are already seeing a surge in the volume and value of electronic transactions through digitalisation. And new channels, like PSD2, are set to exacerbate the pressure on existing fraud defences. Faster payments, through SWIFT gpi and other means, virtually eliminate the window of investigation. And, therefore, necessitate automated real-time detection.
While machine learning has transformed many industries over the past decade, one area that is still playing catch-up is insurance. It’s a sector used to finding itself trailing behind other industries’ tech adoption, where high running costs of legacy systems squeeze budgets to such an extent that it’s hard for firms to stump up the cash necessary for driving innovation. While online comparison services have proliferated in recent years, signing up to and managing the policy invariably involves the pens, paper, and printers that other digitally-transformed industries have long since left behind.
No other technology has captured the world’s imagination quite like AI, and there is perhaps no other that has been as disruptive. AI has already transformed the lives of people and businesses and will continue to do so in endless ways as more startups uncover its potential. According to a recent study, venture capital funding for AI startups in the UK increased by more than 200 percent last year, while a Stanford University study observed a 14-times increase in the number of AI startups worldwide in the last two years.