SigmaWay Blog

Artificial Intelligence is one of the most important part of our daily life from simple features like automatic image tagging to prediction and recommendation in business. AI will begin to learn emotion, better understand human sentiment and solve more complex problems. Soon, companies will be able to automate a large chunk of data analysis, decision making and customer service, allowing employees to tackle the most complex challenges rather than get bogged down in the details. Read more at:https://www.entrepreneur.com/article/290444

Marketing to millennials is challenging for their changing consumption patterns in various platforms, devices or content formats. AI collects smart real-time data and use those which may be personal data, brand data, historic data, etc. A chatbot can go to messenger platforms to accelerate a personalized e-commerce without human interactions. Acceptance of AI is growing in millennials for interaction with brands, online and offline. Read more at: https://www.entrepreneur.com/article/295047

In recent times, innovation of machine learning and artificial intelligence has changed the paradigm of the tech world. Some trends prominent in the development of machine learning are: (i). Big companies are developing machine learning based artificial intelligence systems and it will continue to grow, (ii). Along with data, with the development of machine learning, algorithm economy is expected to develop more, which will distinguish small business from the large ones, (iii). Interaction between machine and humans is expected to increase. In conclusion, machine learning and artificial intelligence is expected to grow but humans can’t be completely replaced right now. Read more at: http://www.datasciencecentral.com/profiles/blogs/trends-shaping-machine-learning-in-2017

How can we use AI to better understand the future? What will our clients and the marketplace need and want one year, two years, five years from now?” This is a shift from analytics that automatically collect and analyze data from past interactions (buying behavior, customer service engagements, etc.) to leverage AI to provide solutions that address both current and future challenges. 

Now, instead of using chatbots and other AI tools as communication devices to interact with customers at various phases of their shopping and decision-making process, many companies are exploring how bots can collect and analyze customer needs and business data for solution development. 

Read more at : http://www.cio.com/article/3200667/artificial-intelligence/robots-are-not-coming-they-are-already-here.html

With the increase in cyberattack throughout the world, it has become extremely necessary to install cybersecurity which uses digital technologies to protect company networks, computers and programs from unauthorized access and subsequent damage. With the market rapidly digitalizing itself, it is necessary for them to secure it. The focus must be on safeguarding the data spread across devices and cloud. There are different techniques used by hackers to attack the company’s data source, also there are ways to combat these attacks by network defense, mobile device protection, investment in securing IoT devices etc. Artificial Intelligence is used to learn new malware behaviors and correct them. Thus, cybersecurity is a key factor for every organization while digitalizing itself. Read more at: http://www.datasciencecentral.com/profiles/blogs/cybersecurity-in-digital-age

How will Artificial Intelligence facilitate the healthcare sector? This is the question that needs to be answered. The greatest returns to investments are likely to come from medical imaging and diagnostics and drug recovery. According to Accenture, virtual nursing and robot-operated surgery can be efficient and cost effective. Fraud detection and error in dosage detection can be performed by AI. Thus, healthcare sector can grow at a tremendous pace using AI. Read more at http://fortune.com/2017/06/19/healthcare-artificial-intelligence-accenture/

The first and foremost usefulness of artificial intelligence lies in the fact that it helps companies to predict the outcome of a conference call which is profitable for the company. AI is mainly based on machine learning and it helps in solving problems using past experience, known variables and outcomes, thus replacing the jobs that were previously performed by humans. But in case of company outlook this cannot be used as there are no past experiences to depend on, also risks and opportunities maybe overlooked. AI can also be useful when there is ‘bionic fusion’ which is facilitated by meta-vision. Meta-Vision helps in navigating market forces and assessing the competition to monitoring public relations media engineering. Thus, it can be seen that with the help of AI and meta-vision, predictions can be made about quarterly earnings calls, earned media, etc. Read more at: http://www.datasciencecentral.com/profiles/blogs/artificial-intelligence-in-enterprise-meta-vision-improves

It is hard to believe that Bots will replace websites and mobile apps, but there are some logical reasons why that is possible. Messaging apps are growing very fast and if this becomes a popular way of communication, then every business is going to need a way to engage on these platforms. Bots will be faster than websites and mobile apps will be smart enough to understand what are you saying by their Artificial Intelligence power. Bots don’t need to be downloaded like other mobile apps. Bots will be easier to use than any other technology ever created. Read more at:https://chatbotsmagazine.com/how-bots-will-completely-kill-websites-and-mobile-apps-656db8e6fc03

An Investor always looking for innovative, cost-effective, tech- enabled modes of customer engagement and chatbot is perfect for that. It can potentially help customers better understanding Financial Services via interactive discussions on pricing, terms and conditions, etc. AI powered chatbots can give recommendations to users about the best financial services and opportunity analyzing user interaction and requirement data. Using chatbot we can ensure security of user data and cost benefit analysis of user data. So, it will be exciting to see more chatbot innovations in financial inclusion. Read more at:http://partners.wsj.com/metlife/multipliers/articles/talking-the-talk/#.WSLz8PPm2TE.mailto

India is adding around six million new entrants every month to its internet user base and is a huge market for both retail and internet industries. E-commerce players are likely to hit saturation levels on new customers. Opening physical stores would become a trend to address the twin challenge of saturation and marketing costs. The next big thing is the Virtual Reality. The way we shop will be easier because consumers will interact with AI chats bots and Unified Payment Interface (UPI) will simplify transaction. Read more at:https://www.entrepreneur.com/article/288440

A chatbot or talkbot is a computer program which conducts a conversation via auditory or textual methods. The service could be ranging from functional to fun, and it could live in any chat products like Facebook Messenger,Text Messages, etc. There are two types of chatbots,

1.Chatbot that functions based on rules and  2. Chatbot that functions using machine learning or AI.  Chatbots  are  gaining popularity  as people are using messenger apps more than they are using social networks. To know more about chatbots, read: https://chatbotsmagazine.com/the-complete-beginner-s-guide-to-chatbots-8280b7b906ca

Artificial intelligence and improved technology without structured analytics can prove to be costly and can leave the company paralyzed. However, companies with strong analytics can make excellent use of it. Before Adopting artificial intelligence, the following points should be considered. 

1. The basic processes should be automated.

2. Structured analytics and centralized data processes.

3. Integration of structured analytics with artificial intelligence.

Artificial intelligence, if exploited to its full potential, can reinvent business. Read more at https://hbr.org/2017/06/if-your-company-isnt-good-at-analytics-its-not-ready-for-ai

Quantum computing is the area of study focused on developing computer technology based on the principles of quantum theory, which explains the nature and behavior of energy and matter on the quantum level. In Quantum it can’t be clearly predicted which key element of the technology has entered commercialization and resulted in a massive change. Commercial applications like Temporal Defense Systems (TDS), Westpac, Commonwealth, and Telstra, and QuantumX are being adopted in Quantum computers by Lockheed Martin. Quantum computers can be used for simulation, optimization and sampling. Therefore, the most important action for data science is plotting how Quantum will disrupt the way we approach deep learning and artificial intelligence. Read more at: http://www.datasciencecentral.com/profiles/blogs/quantum-computing-and-deep-learning-how-soon-how-fast

Automobiles are becoming highly advanced with the high-performance engines and technologies. Telematics provides the information about the performance of both vehicles and drivers. This automotive technology along with Internet of Things (IoT) is creating favorable impact on the car industry and its related industries like insurance, transportation and logistics service-based companies with fleets and infrastructure. The concept of autonomous vehicle has been there for ages, but with the application of AI it has gained new life. AI can act as an assistant to the human driver providing them a safe driving and with the help of biometric it adds a new level to the car security. Information asymmetry is the main problem in the insurance industries, but with predictive analytics using the available data this problem can be solved. The AI creates a win-win situation for both the user and provider. Read more at: https://www.forbes.com/sites/brianrashid/2017/05/16/how-ai-pioneers-will-affect-the-car-industry-and-why-its-a-good-thing/#7c2fcfde57c2

Looking at the progress of AI globally to assist the legal practitioners in providing legal resources, the Supreme Court has incentivized to incorporate AI in Indian legal system. India has launched its first virtual legal research assistant. Casemine, a legal start-up in the NCR have created a platform (CaseIQ) which goes beyond the old technology of finding keywords and understands the context of the present case. This algorithm searches through the entire Indian legal database and finds links between various cases which is relevant to the case. It has reduced the research time from 5 % to 50% of what is needed in old technique and important source of knowledge to senior lawyers. Read more at: http://analyticsindiamag.com/story-casemine-ncr-based-startup-thats-disrupting-indian-legal-system-using-ai/

There is no doubt that Artificial Intelligence is impacting all walks of life toady-be it driverless cars, automated surgeries, AI robot and more. AI was recently introduced at the Zurich Insurance company for claims handling and it did the magic- saved 40,000 work hours, while speeding the claim processing time to just five seconds. The insurers are now planning to reap the benefits of this technological advancement and expand the use of AI. The days are not far when AI boats will be deployed to help in setting up policies and process insurance claims. The accuracy is expected to increase over time better performance. For a good read, follow the link below: https://eandt.theiet.org/content/articles/2017/05/ai-adopted-by-zurich-insurance-to-assess-personal-injury-claims/

AI or Artificial Intelligence is the hottest sector in India with lots of innovation across sectors. With China is leaping ahead in the AI race on many levels (research papers, R&D, investment and even policies) India is only now waking up to the benefits of AI. If India wants to participate in the AI revolution, then it needs a policy that brings together Indian academicians, researchers, labs, private players and investors on the same platform. Read more at: http://analyticsindiamag.com/india-stand-ai-race-vis-vis-china-us-rest-world/

Sometimes even the Machine learning algorithms behave so dumb that an image recognition model can be confused by generating an adversarial instance, i.e. by changing few pixels by either taking derivative of model output or exploiting genetic algorithms. Adversarial instances lie in low probability regions which is in contrast with limited instances of high probability regions from which the model was trained. A possible approach to solve this problem is ensemble training - To let multiple models back each other. As we look forward to developing more artificial intelligent systems it would become common to encounter such problems.

You can read more at: http://www.erogol.com/ensembling-against-adversarial-instances/

Artificial intelligence (AI) could double annual economic growth rates by 2035 by changing the nature of work and ushering a new relationship between man and machine. The impact of AI technologies on business is projected to boost labour productivity by up to 40 percent by fundamentally changing the way work is done and reinforcing the role of people to drive growth in business.
 
“AI is poised to transform business in ways we’ve not seen since the impact of computer technology in the late 20^th century,” said Paul Daugherty, chief technology officer, Accenture, the primary company to have come up with this research result: “The combinatorial effect of AI, cloud, sophisticated analytics and other technologies is already starting to change how work is done by humans and computers, and how organizations interact with consumers in startling ways. Our research demonstrates that as AI matures, it can propel economic growth and potentially serve as a powerful remedy for stagnant productivity and labour shortages of recent decades.”

Read more on the research results of the AI impact at : https://newsroom.accenture.com/news/artificial-intelligence-poised-to-double-annual-economic-growth-rate-in-12-developed-economies-and-boost-labor-productivity-by-up-to-40-percent-by-2035-according-to-new-research-by-accenture.htm

Whenever we talk about some advanced applications, we can see that we have moved way too ahead in the field of Artificial Intelligence (AI). Machine Learning (ML), a branch of AI, is a major factor to turn applications into intelligent ones. There are companies which are building such ML/AI technologies and others are incorporating ML/AI technologies in their applications and services to make it smarter and to provide customer better and easy facilities. But for the automated applications to provide better customer experiences, we need to have human beings in the loop. Although we have achieved great success in building many ML/AI applications, but we are still in the early stages of the journey. For more details, check the given link: https://techcrunch.com/2016/07/06/key-trends-in-machine-learning-and-ai/