The AI Times Monthly Newspaper

Curated Monthly News about Artificial Intelligence and Machine Learning

Driving Value from AI in Insurance: Delivering Success with Sun Life and Scotiabank

Much discussed, yet often misunderstood, it’s clear that Artificial Intelligence is set to dominate the global Insurance sector for the foreseeable future – and Canada is no different. Despite being a somewhat nascent discipline within insurance, progress in silicon centres across the nation mean carriers recognize the potential of AI to cut costs, improve the customer experience and generate sustainable long-term growth.

Although currently centred around Toronto and Montreal, new government and private sector initiatives are seeking to expand Canada’s AI capabilities from the ground up, but with specialist talent in short supply, a skills gap is likely to exist in the short-term.  From tapping into the burgeoning community of start-ups and innovators to incubating their own AI specialists, carriers are finding there is no quick-fix or easy route to success. A clear vision for the future, and an acceptance that not all initiatives will succeed, are required.

Insurance Nexus spoke to two eminent, senior Canadian insurance executives, Inka Bari, AVP Analytics, Group Benefits, Sun Lifeand Fernando Moreira, SVP, Global Insurance, Scotiabank, to get their views on how Canada’s insurance market should approach AI integration and where it can expect to garner the best results.

Access the full whitepaper here

The first priority may seem obvious but is worth repeating: do not leap into a technical solution without knowing what problem you’re trying to solve. Admittedly, this sounds simple, but many carriers still struggle with this first aspect, often under competitive pressure to bring a new capability to market; “That’s the big question,” says Inka Bari, AVP Analytics, Group Benefits, Sun Life. “Are people doing it because they have a problem to solve, or because it’s cool and competitors are doing it?” she asks. Fernando Moreira, SVP, Global Insurance, Scotiabank, agrees with these sentiments: “Whether it’s for solving complex business problems or addressing growth opportunities, we need to understand what sort of proposition we should be offering our customers.”

Once a need and solution are identified, implementation is not necessarily straightforward, however. For large, legacy carriers, issues typically arise because internal organization/operations were simply not designed for the demands of modern technology and innovation, with “large organizations like Sun Life…as old as the country itself,” Bari notes. “There is so much legacy that has been adapted to behave in a way that wasn’t originally planned

Once a need and solution are identified, implementation is not necessarily straightforward, however. For large, legacy carriers, issues typically arise because “there is so much legacy that has been adapted to behave in a way that wasn’t originally planned,” Bari notes. With “large organizations like Sun Life…[that] are as old as the country itself,” internal operations were simply not designed for the demands of modern technology and innovation, and so ensuring these processes are fit to support a sophisticated AI and analytics infrastructure is imperative.

Access the full whitepaper here

Increased customer-centricity means new propositions must make a difference to customers – competitive pressure and the availability of on-demand, personalized insurance elsewhere means customers will simply go elsewhere if not. But, as competition is high, loyalty is not. “Insurers who want to increase market share, as well as attract and retain customers, need to shift focus and improve in areas that most influence customer satisfaction,” said Tom Super, Director of the Insurance Practice at J.D. Power. “Highly satisfied customers have better policy lifetime expectancy (PLE) scores and are much more likely to recommend their insurer to friends or family.”

Whereas previously, customer-focused initiatives may have focused on lower call-centre waiting times or better online self-service (both valuable components of any customer experience), advances in technology and the capabilities of competitors mean carriers increasingly need to show they are proactive in keeping their customers safe. While it works to lower claim sizes for the carrier, the competitive marketplace also means customers want more for their insurance premium than help in a claim – an aspect of the market that is driving the insurer/customer relationship towards prevention of loss, rather than reaction and restitution.

The perfect proposition is meaningless, however, without the technical knowledge required to put it onto effect. Element AInoted in its 2018 talent report that there were only 20,000 AI experts on the planet and even if they all turned up in Canada, they would need to use all of them, plus every student graduating in an AI discipline from University. “AI is not built by technology; it’s built by people who know how to find the right technology. It’s not cheap. You have to invest to pay for the right people. They are very in demand,” Moreira admits.

Access the full whitepaper here

To address the shortfall, a number of large organizations have been looking for ways to incubate their own AI specialists; Manulife’s four-year, $400,000 CAD partnership with the Waterloo Artificial Intelligence Institute at the University of Waterloo, focusing on research into disability claim prediction and fraud prevention, for example. Intact Financial is taking a similar route, announcing a partnership with Université Laval in January 20197 that will see the company sponsor two research chairs focusing on AI and actuarial science.

Despite these efforts, there are many potential pitfalls; AI is a data-hungry discipline and without proper checks and balances in place, a breach could deal a fatal blow to consumer trust – vital above all else in the insurance industry. Equally, there are many opportunities to choose from, but a focus on customer need and business prerogative is essential, as is a fail-fast, experimental attitude towards innovation. AI is never going to be a quick fix. As a technology, it has the potential to reinvent insurance as we currently understand it; products can become more relevant to the individual, the claims process can be condensed from weeks to a matter of seconds in some cases, while some risks can even be avoided altogether. But it is also an insurance event horizon. Customer expectation has been set, potential has been revealed and carriers who fail to adapt must inevitably find themselves obsolete.

This whitepaper, Driving Value from AI in Insurance: Where Machines are Impacting Experience, Efficiency and Profitability, was created in conjunction with Insurance Nexus’ upcoming Connected Insurance Canada Summit, taking place September 10-11, 2019 at the Toronto Marriott Downtown Eaton Centre Hotel, Toronto, Canada. Expecting over 350 attendees from across analytics, product innovation and claims departments, the event will explore the core challenges facing the Canadian Insurance market, including how to harness AI, automation, product development and seamless claims delivering both an enhanced customer experience and a more efficient carrier. For more information, please visit the website: https://events.insurancenexus.com/canada/.


Link to Full Article: Read Here

Wednesday 17th July – AI Transforming Retail & Customer Data

Wednesday 17th July – AI Transforming Retail & Customer Data

We would like to invite you to attend the one day interactive Directors’ Forum event which provides insights and expert advice from world leading experts and practitioners on how to embrace the new age of Artificial Intelligence & Automation focused on the impact to the Retail industry and the use of Customer Data. The Directors’ Forum events are hosted at Gallup’s conference centre in The Shard, London.

On Wednesday 17th July we will have a focus on AI Transforming Retail & Customer Data

The event is a combination of expert speakers, panel sessions on relevant topics with delegate participation and case studies, together with plenty of opportunities for networking and discussions during our lunch and coffee breaks. We will also have partner companies providing demos and information for delegates during the breakout sessions.

The forum is a great opportunity to learn about both the current state of adoption of AI in the industry but also to hear the latest thinking about future opportunities for applications that will improve the customer experience and company effectiveness.

Get your Ticket Now – http://air.events/directorsforums/july2019/#tickets

With a range of speakers, panel events and case study, including;

  • Mary Wallace, Retail, Place & Consumer Behaviour SME – IBM iX
  • Karl Barnfather, Patent Attorney & Chairman at Withers & Rogers
  • Julian Burnett, VP, Global Markets – Distribution Sector (UK) at IBM
  • Marc Janoff, Managing Consultant Gallup
  • and others

Wednesday 17th July – AI Transforming Retail & Customer Data

We would like to invite you to attend the one day interactive Directors’ Forum event which provides insights and expert advice from world leading experts and practitioners on how to embrace the new age of Artificial Intelligence & Automation focused on the impact to the Retail industry and the use of Customer Data. The Directors’ Forum events are hosted at Gallup’s conference centre in The Shard, London.

On Wednesday 17th July we will have a focus on AI Transforming Retail & Customer Data

The event is a combination of expert speakers, panel sessions on relevant topics with delegate participation and case studies, together with plenty of opportunities for networking and discussions during our lunch and coffee breaks. We will also have partner companies providing demos and information for delegates during the breakout sessions.

The forum is a great opportunity to learn about both the current state of adoption of AI in the industry but also to hear the latest thinking about future opportunities for applications that will improve the customer experience and company effectiveness.

Get your Ticket Now – http://air.events/directorsforums/july2019/#tickets

With a range of speakers, panel events and case study, including;

  • Mary Wallace, Retail, Place & Consumer Behaviour SME – IBM iX
  • Karl Barnfather, Patent Attorney & Chairman at Withers & Rogers
  • Julian Burnett, VP, Global Markets – Distribution Sector (UK) at IBM
  • Marc Janoff, Managing Consultant Gallup
  • and others

 


Link to Full Article: Read Here

Summary of Our New Market Report: The State of Latin America Shared Services in 2019

The SSO Landscape in Latin America

Every year, SSON’s global market survey highlights significant progression in Shared Services models. The past few years have shown a clear trend away from transactional, human-based work towards knowledge-driven activity enabled by data and automation. Yet, and despite the anxiety unleashed by “automation”, this has not translated to obvious job losses. Instead, Latin American shared services organizations (SSOs) are developing new competencies and taking on growth without adding headcount, frequently by leveraging new Centers of Excellence and expanding into new services and geographies.

The top Latin American locations for shared services include Brazil, Mexico, Costa Rica, and Colombia.

Latin American shared services can be characterized by two trends: first, the shared services landscape in the region is maturing; nearly one in three SSOs is 10 years old or more. Second, more than half of SSOs only serve regional customers. What this means is that for the mature segment, the low hanging fruit that drove the model originally (i.e., time and cost) has been well and truly harvested. Today, these shared services are leveraging the process expertise and knowledge they have developed (and combined) with innovative automation and new data analytics capabilities – re-positioning themselves as the brains of the enterprise.

The top functional services for 2019 are very similar to those found in last year’s report (State of Latin American Shared Services Centers in 2018), with the majority of service falling under HR and F&A. The majority of SSOs in Latin America, or 66%, use a multi-functional operating model.

The majority of SSOs also are leveraging Centers of Excellence and over the past year, CoEs have risen in demand and use. Last year, respondents cited new services being added in the areas of Change Management, Data Management, Automation, and Process Improvement. This year, we see these types of services being solidified in CoEs and in roughly two-thirds of global SSOs.

This emphasis on CoEs marks a critical milestone. It recognizes shared services’ future value proposition in terms of the added value delivered beyond process excellence. In other words, shared services is no longer mainly about transactional proficiency and improvement.  The insights a modern SSO can offer the business, such as a thorough understanding of services processing, automation, and data analytics, will set it apart from the rest.

Nearly half of Latin American SSOs are planning to expand the scope of their operations this year by offering new services. Around 40% of Latin American SSOs are also planning to scale down their footprint while they broaden their operations as automation becomes more prevalent. This shift is driven by increased automation. But as shared services become more proficient at supporting global businesses, the fact is that many of these services can be provided digitally, and even virtually, via cloud-based services.

Traditionally, the benefits of shared services have been measured primarily in terms of reducing costs and time. This is still valid. However, given the maturity of this sector, these objectives have generally already been met. As a result, the attention is shifting to the benefits of improved process control, process standardization, and process optimization. The consequential effects are measured in terms of reduced risk, better compliance, quality and reliability. Automation, again, features heavily in driving improved controls via rules-based processing. Similarly, automation supports agility – the ability to ramp up or down quickly – enabling shared services to show significant flexibility in reacting to changes in underlying business requirements – for example, in the case of business expansion or contraction. These benefits are also supporting fairly aggressive improvement targets: more than a quarter of Latin American shared services are targeting productivity improvements of more than 10% in the next year, and nearly a third are targeting the 5% range.

Automation

Latin American SSOs are split fairly evenly in regards to how they are using intelligent automation. 26% are testing pilots, while another 26% do not plan on implementing intelligent automation (right now). More than half of the shared services that have implemented automation are scaling it. Leveraging and scaling automation as a competency requires a well thought out strategy, however. First, it’s important to get the right internal co-collaborators on board, that is primarily IT and Audit; and second, you will need to take steps to avoid running into a “bot wall”. There are numerous hurdles that need to be planned for, in order to avoid derailment.

While we are still in the early days of automation, IA tool providers are driving the industry further and shared services leaders do not want to miss out on the next great invention. A majority are already planning on integrating chatbots, cognitive solutions, machine learning, artificial intelligence, and blockchain. AI is grabbing many of the headlines. Last year, we asked whether AI was on shared services leaders’ agendas. Although actual implementations were low, more than 60% of respondents indicated they were considering it. This year, these plans are solidifying. Of those intending to integrate additional intelligent automation solutions, more than half are committed to incorporating AI and machine learning in their operations.

The interest in globalized services continues, as 17% of respondents have confirmed full GBS implementation and 15% have partial GBS. A significant segment is also committed to pursuing it in the next three to five years. This interest in the global model is driven predominantly by the urgent need to leverage automation across an increasingly broader scale. The global process ownership conferred by GBS, and the extent of standardization the model implies, are both key factors that determine the ability to roll out automation. In addition, (and this is significant) the ownership of global processes reduces the resistance that automation teams frequently encounter in attempting to scale.

The value-add of knowledge work is what many SSOs are chasing this year and is based not just on doing work, but completing it (in the same amount of time) with a better understanding. A large segment believes itself to be successful in developing road-maps and setting targets. Data analytics and business insights provide the opportunity for SSOs to offer more in regards to consultative and advisory support. These advanced services are often referred to as “knowledge” services, meaning they require understanding, insights and expertise on top of real-time data to deliver value.

Talent

The largest talent challenge for Latin American SSOs has to do with hiring and maintaining talent that possess an innovative mindset and have the ability to think outside the box. Thinking outside the box relates directly to the biggest skills deficits: data analytics, automation, and innovative thinking. Overcoming these deficits will depend on the ability of employees to understand the nature of the work being done in order to come up with innovative solutions and insights.

Supporting management in transitioning to managing a digital workforce, alongside a human workforce, presents significant challenges to HR leaders – predominantly in identifying, recruiting and fostering the mindset and skill set required to move forward. One of the difficulties is supporting management in transitioning to a hybrid workforce. This is causing a lot of anxiety, which organizations are countering mostly through change management and training.

Join us at the 13th Annual Shared Services & Outsourcing Week Latin America!

Whether you are a domestic Latin American company assessing your shared services capability, or focusing on optimizing your existing shared services, or a Global Multinational corporation looking to establish a service footprint in Latin America, this cross industry, cross function event will help you unlock your service potential! View the 2019 event guide to learn more. To view the 2019 event guide in Spanish, click here.


Link to Full Article: Read Here

Improve Your Organization’s Customer Experience in Three Easy Steps

Words of Wisdom From Our Speaker Faculty 

Since the late 80’s, the Shared Services Practice (SSP) in play have been recognized as an important strategy for cost base reduction, improving control, enhancing service levels, etc.

I believe SSP is a wholesome strategy to bring organizational change, an efficient work culture, continuous delivery and overall improvements.

Improve Your Organization’s Customer Experience By Utilizing the Three “O’s”(throughout the transition phase of your implementation):

  1. Orchestration – This is the strategy phase, where you size the consolidations and plan the execution. You will undergo a feasibility study on whether the SSP strategy will bring in value and benefit (or if it will be a fad).
  2. Outsource – By this I mean the execution. This practice should consider the operating unit as “customers” in providing capabilities and synergies.
  3. Optimization – This is where you continuously measure and control the transformation. The ultimate goal is increased efficiency and effectiveness in operations management.

To learn more about Mr. Rajagopal’s involvement at the upcoming summit, please click here.


Link to Full Article: Read Here

Last Few Days – Thursday 27th June – AI & CX Transforming Financial Services

Join us at the next AI & Robotics Directors’ Forums hosted at the Gallup offices at the Shard the one day events cover a number of topics covering AI and Customer Experience.

On Thursday 27th June we will have a focus on AI & CX Transforming Financial Services

Full Programme is now available with a great line up of speakers, panel sessions, case study and a few companies showcasing their technologies.

There will also be plenty of opportunities to network too during the breaks and lunch.

Get your ticket today … limited availability

I look forward to seeing next week

Prof Andy Pardoe


Link to Full Article: Read Here

Delegate + 1 Tickets – Save £100

There’s just 2 weeks to go until we will be hosting our next event at The Shard London where we will be looking at how Artificial Intelligence and Customer Experience is Transforming the Financial Services industry. This is the first in a series of Directors’ Forums events we are hosting in 2019 together with our Annual Conference. There are still places left for this event on Thursday 27th June, see below for more information and how you can book your place.

Join us and bring a colleague 

We have a great agenda some great speakers (see below)

Only three tickets left so get one soon

https://www.eventbrite.co.uk/e/ai-transforming-financial-services-tickets-60698871960?aff=twitter

Taking Your CX into the Future with Conversational AI by Chris Ezekiel, Founder & CEO at Creative Virtual

The Evolution of Financial Services in the Face of Artificial Intelligence by Dr Djamila Amimer, Founder and CEO at Mind Senses Global

Realising value from AI in business processes by Tom Castle, Head of Artificial Intelligence Practice & Development – Commercial and Private, Natwest

Effective Strategies for Implementing AI in your organisation and the Power of Analytics by Mignon Mapplebeck, IT Director and CIO Advisor

Cracking the code: Turning AI into ROI by Abhijit Akerkar, Head of Applied Sciences, Business Integration at Lloyds Banking Group


Link to Full Article: Read Here

Thursday 27th June – AI & CX Transforming Financial Services

Join us at the next AI & Robotics Directors’ Forums hosted at the Gallup offices at the Shard the one day events cover a number of topics covering AI and Customer Experience.

On Thursday 27th June we will have a focus on AI & CX Transforming Financial Services

Get your Ticket Now – http://air.events/directorsforums/june2019/#tickets

With a range of speakers, panel events and case study, including;

  • Chris Ezekiel, CEO of Creative Virtual
  • Abhijit Akerkar, AI Strategist & Business Integrator at Lloyds Banking Group
  • Tom Castle, Head of Artificial Intelligence Practice and Development at Natwest
  • Mark Cliffe, Chief Economist at ING
  • Saurabh Moody Voiceman, CEO of Alphaa AI
  • Dr Djamila Amimer, CEO Mind Senses Global
  • and many more

 


Link to Full Article: Read Here

Thursday 27th June – AI & CX Transforming Financial Services

Thursday 27th June – AI & CX Transforming Financial Services

Join us at the next AI & Robotics Directors’ Forums hosted at the Gallup offices at the Shard the one day events cover a number of topics covering AI and Customer Experience.

On Thursday 27th June we will have a focus on AI & CX Transforming Financial Services

Get your Ticket Now – http://air.events/directorsforums/june2019/#tickets

With a range of speakers, panel events and case study, including;

  • Chris Ezekiel, CEO of Creative Virtual
  • Abhijit Akerkar, AI Strategist & Business Integrator at Lloyds Banking Group
  • Tom Castle, Head of Artificial Intelligence Practice and Development at Natwest
  • Mark Cliffe, Chief Economist at ING
  • Saurabh Moody Voiceman, CEO of Alphaa AI
  • Dr Djamila Amimer, CEO Mind Senses Global
  • and many more

The post Thursday 27th June – AI & CX Transforming Financial Services appeared first on NEURONS.AI.


Link to Full Article: Read Here

Global State Market Report

The shared services landscape continues to flourish as SSO leaders make aggressive commitments to improve their operating models. In a prospering industry, the race is on to design pioneering initiatives for an unmatched competitive advantage amongst competitors. With advancing technologies, new analytical tools, and other emerging trends its no surprise that shared services is advancing at a rapid pace, paving way for change and innovation.

In order to truly understand the current state of the shared services landscape, we took a look at basic statistics covering the most common shared services functions, geographic locations, and SSC lifespan. When compared to past global market reports, these statistics can highlight how the original models have pushed the more matured organizations to the front of the competition. These front runners are those who are now in search of the next innovative trend in order to keep them ahead.

Other data collected, like current and future initiatives, lead us into the emerging trends of the shared services market across operating models, strategies, and talent. These core competencies are the solid strengths that, when leveraged properly, can push shared services operations to the maximum potential. With 68% of leaders stating they are leveraging Centers of Expertise, it has proven to be staple function with a focus on driving performance. In terms of planning, other statistics show how leaders are focused on not only driving performance but expanding the scope of their operations. When questioned how they planned on expanding the scope of their SSOs, 41% of respondents stated expanding in terms of additional service offerings while 21% plan on expanding geographically as well as in terms of additional service offerings. This data represents the ambitious goals shared services centers are setting in a saturated industry.

With the maturity of the shared services industry progressing, majority of SSOs are meeting objectives and setting more aggressive goals; almost a third of shared services leaders are targeting a 7% – 10% increase in productivity improvement. This kind of progression has resulted in an urgency to be innovative and brave when introducing new ideas. As shared services models become more standardized, trends towards obtaining more agility and control for operations optimization have risen. Automated technologies are key drivers in this scenario, enabling the capability to easily ramp up or ramp down operations, as well as improve control. Although the SS model is ideal for scaling up successful RPA pilot programs, aggressive targets across the industry should push for more efficient and effective ideas to introduce.

Organizations have begun leveraging data analytics and business insights to obtain better grasp on their work. This presents an open opportunity to not only learn about the gaps in your operations but also produce ideal solutions. The problem remains with being able to properly read the data received in order to analyze and execute based on the results. This has lead to a skill gap in the workforce, which has professionals asking themselves:  Should I learn a whole new skill set or outsource this skill set?

Over the past couple of years, outsourcing has been ignored due to the hype of intelligent automation, with about a 50 – 50 spilt in the industry. Those who stated they outsource work, majority stated that they look towards knowledge services providers that can help them read and analyze data. These results have proven that organizations are seeking services that will provide them with value adding competencies. As these new tools and trends emerge, organizations are searching for help through consultants and advisors in order to make decisions ideal to their objectives. With the influx of change from these emerging trends, share services leaders are most likely to reassess their SS models and turn to advisors for change management consulting.

Change is in the air as shared services organizations discover new tools, emerging trends, and realize the skill gaps ahead. The current landscape illustrates an increase in Centers of Expertise, an urgency to better understand the inner workings of operations, and the need for filling the data analytics skill gap. Managing the change in this year’s industry shift will require new ideas to manage workforce talent, both human and digital, innovative ways to optimize operations in a saturated industry, and how to efficiently achieve successful results. The Shared Services & Outsourcing Week Autumn program analyzes the markets current challenges and supplies you with the skills needed to improve your enterprise value through shared services operations. For more details, access the Shared Services & Outsourcing Week event guide.


Link to Full Article: Read Here

How to Scale Robotics Successfully

As technology continues to progress in the workplace amongst industries, most have implemented their enterprise development initiative with robotic process automation. This large embrace of digitalization has urged shared services leaders to focus on scaling RPA operations across their organizations. These strategies don’t necessarily require introducing more bots, but rather leveraging advanced intelligent automation technologies; in this scenario the next stage is machine learning. When increasing your robotic processes, it can be easy to make a small mistake leading to scaling failure. Instead of learning from your own mistakes, take a step back and learn form the mistakes of other; analyze the process of those who failed the first time. Ensure your RPA program can be scaled successfully from the start with these key tips to building scalability into your automated operations.

As challenging as expanding automated processes across operations can be, setting the tone with appropriate rules and partnerships can create a much easier journey. The first key step to scaling successfully is confirming you have the proper governance set. Having a set governance means prioritizing the right functions to automate and sidestep those that are too complex. Start with identifying the easily replicated and repetitive tasks similar to the ones you’ve already automated, and then make a second set of processes to automate later in the process. Prioritizing your problems and processes simplifies the process and can lead to speeding up your scaling project.

An additional tip to keep in mind is automating the human-fueled risk management to free up time for your workforce. Automating repetitive tasks that were once completed by people frees up workforce capacity, but these automated processes are still relying on humans to keep them in check.

Automating the process of managing, or maintaining, bots frees up more time for the human workforce permitting them to conduct more value-added work. Scaling up robotic process automation operations requires consistently taking action to reinvest in freeing up workers’ capacity making way for improvement in their skills and knowledge on cognitive technology. This strategy delivers an opportunity to enhance operations without having to hire more people. In other words, scaling your RPA program and upskilling your workforce simultaneously results in consistent process improvement. This kind of investment in cross-skills training for your human workforce teaches them how to evaluate the proper automatable functions and ultimately start creating the bots themselves.

Encouraging the enthusiasm of RPA in your company culture is a big driver for implementation. Empowering the choice to automate is a great way to motivate teams to develop their own robotics, or bring in a team of developers, to solve their problems. It is wise to be cautious with this strategy because it can result in too many tasks being automated. The automating too many tasks adds more complexity to the bot. As a bot becomes more complex you can run into a long term scaling failure that is too intricate to maintain.

Scaling your automation means embracing the power of machine learning. Machine learning is not a one-man show, but must be accompanied by other robots. Machine learning is implemented by being supported at both the input and output of its code with historic bots, or bots that have already been within operations. This allows historical data to bee fed into the machine learning module to improve the automation’s reliability. This implementation should be conducted with care due to its complex design. Once this operation is mastered, is has the ability to improve the impact of your robotics. When scaling across your organization, it is just as important to improve the intelligence of your robotics to yield better returns.

The last, but not least, tip for successful scaling is setting realistic expectations by prioritizing your targets appropriately. Implementation is about the outcomes it delivers for your customers, not the amount of bots in place. This key factor means focusing on the needs of your outcome quality and not your implementations. If your goal is to improve your quality of service and turnaround, then set that as your target in that order. Scaling robotics is a key force to improving performance, but it is easy to over-automate without setting a target for your outcome.

Analyzing your problems prior to implementation is the best strategy to take when scaling RPA. The best thing to keep in mind is that the technology is not the leader, but the follower. Essentially, you should be identifying the gaps in your operations and those challenges should prescribe the appropriate tools to fix them. Prioritizing your business objectives delivers better results and delivers a better quality of output. Access How to Ensure Your RPA Can Be Scaled from the Start for more strategies and tips on successful RPA scaling.


Link to Full Article: Read Here

A Majority of Intelligent Automation Projects Are Stuck in Pilot Stages

A majority of organizations actively pursuing IA initiatives are often stalled by a lack of coordination, integration and prioritization, according to a new report by KPMG International and HFS Research. The study goes on to conclude organizations are becoming more ambitious with IA investment plans, but often overlook the full costs of an internal transition (which includes human resource issues)when investment plans are decided solely from a tech-centric perspective.

More than 30%of enterprises have already invested more than $50 million in intelligent automation technologies– so how can organizations move beyond pilots and into more scaled initiatives? Scaling has proven to be the largest inhibitor to IA success. Two other prominent challenges preventing strategic and operational goals from being achieved include an uncertainty about the financial investment needed in IA and a lack of organizational clarity and accountability for driving an IA agenda forward. Business leaders, including CFO’s, will need to decide what their company’s objectives are and then focus in on them.

A variety of recent data has taken note of the problem with IA pilots, regardless of whether they are specific to AI, RPA, or cognitive computing. MIT Sloan Management Reviewmade remarks last year of the 2018 NewVantage Partners executive survey, where 93% of organizations specified that their organizations were investing in AI initiatives.MIT Sloan approached many of the companies who participated in the survey to discuss writing case studies about their work, however, an overwhelming number objected to the idea.

Interestingly, most of the companies disclosed the reason they objected wasn’t because they wanted to keep their AI activities secret, but because they weren’t actually very far along and their projects were not worth discussing yet.Very few had production deployments and most of these were machine learning-based systems that had been in place for many years.

Even more, an international study on the future of work, conducted by IDG and LTM Research, found less than 50%of enterprises have deployed intelligent automation technology. These intelligent automation technologies include artificial intelligence (AI), machine learning (ML), and robotic process automation (RPA). 86%of the IT executives surveyed believe that human work, AI systems, and robotic automation must be well-integrated by 2020, although only 12%said their companies are doing this well today.  Ultimately, the data revealed an enormous disconnect between the expected business benefits of IA and a typical organization’s ability to realize those benefits.

So how can we bridge the gap and move beyond pilots and into deployment? Unfortunately, there is no simple solution. Developing a solution will ultimately depend on an organization’s IA maturity stage: whether that stage is early adoption, implementation and evolving, maturing and scaling, or at various points (depending on an organization’s existing use of IA by department).

Regardless of what stage your intelligent automation project is in, we suggest you keep the following in mind:

  • No matter where you are, or what technology you are implementing, the core objectives and desired outcomes of pilot programs remain consistent; to meet your goals, understand your fracture points and identify what your need to do in order to roll out a successful initiative.
  • As part of your organization’s overall process improvement strategy, it’s imperative to continually evaluate your IA goals, strategies and performance measurements so to ensure maximum benefits from the opportunities at hand.
  • As an organization is undergoing significant digital transformation, you want to offer your workforce the skill sets they require to navigate their new work landscape, as well as offer them achievable career paths within their current job role and perhaps offer them new opportunities within your organization that have developed due to your IA programs.
  • As many organizations introduce a variety of IA technologies into their business landscape and culture, and/or further develop their efforts to do so, their diverse IT workforces may feel they require additional technical training, career development, and a sense they have a solid future at your organization.
  • There is certainly no shortage of highly valuable IA software that is available in today’s marketplace or will be offered in the near future. What may be considered a valuable IA software solution with respect to your stakeholders’ objectives, they don’t always prove to be a good investment on a technical level due to the complexity of technical roll out and management.


Link to Full Article: Read Here

Interviews with the Top IA Professionals

Over the past 5 years, intelligent automation has changed the way we work driving new trends, obstacles, insights, and risks. We explore different corners of IA with some of our past speakers touching on points such as prioritizing problems before implementation, the affects of IA on different industries, and cybersecurity threats.

When it comes to robotic process automation, AIG’s Global Senior Director, Manik Patel, says priorities lie with identifying your problems in order to set a strategy. Patel shares one of his success stories with a past client that initially wanted to implement an AI based tool before focusing on the right problems to solve. After being properly guided and prioritizing their problems effectively, his client was able to improve their conversion ratio and increase their sales by 340% allowing their business to flourish. He continues to highlight the importance of overall mindfulness when scaling up IA processes, such as aligning your overall automation strategy with your corporate strategy. He emphasizes how taking initiatives to implement RPA technology and scale up is crucial in today’s world. Patel also touches on how IA with change the nature of work in a sense of creating a labor deficit as new jobs emerge, referencing how the influx of social media created jobs like social media coordinator. Hear more about Manik Patel’s tips and insights in his interview from IA Week.

Michael Edmonds, the Robotic Process Automation Manager at Farmers New World Life Insurance Company, enlightens us on how automated technologies have enhanced the insurance industry as well as improved employee experience. He explains the success of his RPA implementation experience saying, “we started small, we put in a couple robots and they were pretty successful and then when we started the next round of them, people started to get the idea that we weren’t replacing their jobs [but] that we were taking the bad parts of their jobs…and we were getting the robots to do them.” After the introduction of automated technologies and RPA, Edmonds explains how the nature of his company has changed from being clerical and paper heavy to having faster and more accurate operations. With the operation enhancement, his team started up their own in-house production, project management, and IT support creating a multitude of jobs within the company. To hear more about Michael Edmonds’ success stories and insights on how IA is affecting the insurance industry, access his interview.

NASA’s Director of Service Delivery, Kenneth Newton, shares not only how RPA has improved their organization operations, but also the many opportunities it can provide for other government organizations. He explains how RPA implementation has given NASA, an organization known for technology and excellence, the opportunity to continuously improve their operations across shared services functions like HR, procurement, and finance. This continuous improvement initiative has taken off, allowing employees to accomplish more tasks day-to-day as well as open more time to focus on conducting higher skill level activities. He continues, stating how implementing RPA has given employees the opportunity to engage in more customer relationship building activities. Newton also sheds light on why other government organizations should implement automated technologies by stating, “We owe it to the American taxpayer to do things more effectively and more efficiently,” explaining how NASA can set a great example as well as help expand RPA to other federal agencies. Access Kenneth Newton’s interview for more insights on RPA in government.

With the increase in intelligent automation technologies in company operations, Roderick Kaleho, Director of Security & Risk – IAM & Automation at Cargill highlights the top cybersecurity threats organizations should be addressing. He explains the first risk where organizations have material weaknesses is in identity and access management, which lies at the heart of most breaches. RPA and bots with elevated privileges are prime targets for access hacking due to their abilities to be used across the organizations environment. Kaleho continues with overall data governance as another high cybersecurity priority. He elaborates stating, “If you have a robust data governance, data protection and control… that will be an utmost concern.” Another cyber threat Roderick touches on is the importance of privacy and keeping an eye on where your technologies are filtering and transferring your data. He emphasizes that scaling up your IA processes and capabilities also increases your risks, saying he encourages companies to determine their stance before moving up onto bigger automated processes. For more insights into the importance of cybersecurity with intelligent automation, watch Roderick Kaleho’s full interview.

Intelligent automation still remains a young trend with many benefits and challenges ahead. By learning from the insights of experienced professionals, we can take the opportunity to enhance the nature of work across industries for faster, more accurate and efficient operations. When starting out your IA journey, here are some things to keep in mind: prioritize your problems before jumping to the solution, keep in mind that risks increase at the same pace, and maintain cybersecurity when scaling up your operations to secure data protection and avoid cyber attacks. As time progresses, we can expect intelligent automation to guide different industries in different ways yet all with one common goal: enhancing organizations’ enterprise for a better way of life.


Link to Full Article: Read Here

MATLAB Deep Learning

Ensemble learning or model ensembling, is a well-established set of machine learning and statistical techniques for improving predictive performance through the combination of different learning algorithms. The combination of the predictions from different models is generally more accurate than any of the individual models making up the ensemble. Ensemble methods come in different flavours and levels of complexity (for a review see https://arxiv.org/pdf/1106.0257.pdf), but here we focus on combining the predictions of multiple deep learning networks that have been previously trained.

Full article at https://blogs.mathworks.com/deep-learning/2019/06/03/ensemble-learning/

Celebrating Four Years of the Informed.AI Group

Celebrating Four Years of the Informed.AI Group

Wow. I can not believe it has actually been four years since I launched our first AI related website.

The progress made this past 12 months has been amazing, and demonstrates the momentum we now have. Our mission remains focused on enabling people to learn more artificial intelligence, making the subject more accessible to everyone. Essentially Supporting the AI Community. 

We have for the first four years been dedicated to individuals and this still remains a key part of our audience, however, we are seeing a great need to support businesses. Our Awards was always targeted to supporting AI companies, but now we need more and more traditional businesses wanting to know more about AI. 

Over the four years, our user base has demonstrated wonderfully encouraging organic growth. We now have close to 1,000 visitors per day to our websites from every country across the world. 6,000 members are part of our Neurons professional network with 25 groups in 15 countries and this is expanding on a weekly basis, and with nearly 100,000 followers of our various social media channels, and several thousand people subscribing to our various newsletters. 

We also have a great network of volunteers, from the chapter leaders of the various meetup groups, to the judges for the for annual achievement awards, and the central team that support me on many other tasks and plans.

This is truly a community for the people, run by the people, and it makes me so proud to be part of it.

I want to thank you all for being part of the community and ask that you share with you friends and colleagues and help us make this the best and biggest AI community. 

Business Focus – AI & Robotics Events (AIR.Events)

Our journey to support businesses wanting to learn more about AI has really started with our acquisition of the AI events company run by CBM. These events include regular Directors’ Forums events, hosted by Gallup in the Shard, our next event is on the 27th June focused on AI & CX Transforming Financial Services. We then have AI Transforming Retail and Customer Data on the 17th July. 

As part of this acquisition we will also be running the AI & Robotics Main Event Conference on the 4th October. 

To support businesses further, we will be organising Roundtable Workshops and Dinners. 

Please visit our site AIR.Events

If your business would like to be involved with these events in any way, please contact us via air@informed.ai or visit our website.

into.AI

into.AI is the main portal for individuals, providing useful information and news on AI, and links to all our other mini-sites. 

We want to thank everyone for their continued involvement. We are always looking for contributors, to submit stories, press releases and thought leadership articles. Sharing your news and thoughts is all part what this ecosystems is designed for, so please don’t hesitate to submit your news on our platform. 

We are now also creating our own unique stories, articles and papers, which we hope you will enjoy. This exclusive content will also be shared as part of our newsletters.

We have a regular spotlight for those AI companies / startups that want to showcase their new products to the community. Totally free method of promoting yourselves. We have also featured individuals who have authored books for example. 

Shared.AI

One of our newest sites is Shared.AI, this is a simply site that allows individuals and companies to submit a range of different AI related information, from links to companies and products to news and press releases. This allows a single place to submit useful information that will be shared across our network. It also has a blog of the most recently submitted items.

Awards.AI

 

 

The AI Awards, have been a huge success on a global scale, we have already awarded over 60 winners of the AI Awards. Having now entered our third year, we are making it a much bigger programme of events throughout the year. Currently still open for nominations, across 60+ categories of awards, the judging and showcases will occurring in the coming months at various locations, with the awards ceremony happening in late November / early December. 

The Awards are still open for nominations, visit Awards.AI to submit your nomination before 1st July.

This is the Oscars of the AI tech world, the only independent AI Awards. 

Neurons.AI and Chapters.Neurons.AI

We continue to grow our Professional Network for AI Practitioners and Researchers call Neurons. This is a mix of both online and offline interactions, with meetups, forums, user blogs and messaging. This platform allows us to facilitate the knowledge sharing between organisations, allowing us all to benefit from the open developments of this field. 

We have just launched a new online portal for Neurons.AI and will be combining the chapters site into it very soon. This update will allow us to add more functionality over the coming weeks and months.

We have over twenty Chapters in 15 countries around the world, and continue to grow the number every month.

If you would like to lead a chapter in your City, please let us know.

Our next London meeting is on the 28th May … so please come along … https://Chapters.Neurons.AI/UK/London

Events.AI

Now listing over 200 AI related events, conferences, meetups, one-day events and webinars. With the largest list of discount codes for AI conferences in one place. It is the goto place to see what events are running. Many of the large conference organisers list there events on our site. 

Vocation.AI

We are actively looking to acquire a recruitment company to help us develop and grow our capability around our careers portal and jobs board. 

Showcase.AI

Our newly acquired AI & Robotics Conference will become the AI Showcase in 2020 and we will have two conferences one in London and another in Edinburgh.

In 2021 we will look to expand this to include an international conference.

Management Team & Advisory Board

We are starting the process of getting a management team and advisory board together. This is a critical part of our development as a group, allow us to increase our offerings and to make our products and services more advanced. This marks a new phase of maturity for us, and a significant change to our business structure and organisation.  

This will also allow me to transition more responsibility to a wider team and removing myself as a potential bottleneck. I can then focus on more advanced and new products and services while the team ensure the current platform is stable and continues to grow.

We are also actively looking to establish a global advisory board, if you are interested to join, please let us know via  our contact us page

Having a management team is combined with our strategy of growth by acquisition, with one acquisition already executed this year and two more planned. 

Sponsorship

Our main challenge with this ecosystem, is that there is so much more we would do with the platform, given more time and resources.

We have a number of sponsorship opportunities across the platform, including the Awards, Neurons and our Events. If you would like your company to be associated with the great work we are doing with this ecosystem, please contact us for more details. 

In addition we have a number of additional projects and sites in the planning stage which we will be launching in the coming months, which will add new capabilities to our portfolio of sites.

Volunteers Needed

We are always looking for more help and support from volunteers. 

We need more chapter leaders, and co-leads for each chapter, with additional support for each too.

Much more help on content for many of our sites, from blogs to structured updates on specific sites. We really need alot of help here. Please contact us to find our more.

Partners & Sponsors 

Partnerships, Sponsorships and Business Development are all areas we need to extend and develop over the coming months. We would appreciate any help from people who believe they can contribute to these areas for us.

We Value your Support Feedback and Comments

As always, your feedback is welcomed and encouraged, as we want to make sure we are delivering useful sites and functionality. The best way to do this is email us at talk@into.AI

Thank you for your continued support and encouragement.

From the Informed AI Team

Our group of websites includes:

http://into.AI
http://Neurons.AI

http://Chapters.Neurons.AI 

http://Awards.AI

http://Events.AI

http://Showcase.AI

http://Vocation.AI

http://Study.AI

http://Informed.AI

Our social media:

@into_AI
@Awards_AI

@Events_AI

@Showcase_AI

@Vocation_AI

@Neurons_AI

@Informed_AI

We also have facebook pages and our Informed.AI LinkedIn page.

With thanks 

Andy

Prof Andy Pardoe

Founder of the Informed.AI Group

Pardoe.AI

@Pardoe_AI

Celebrating Four Years of the Informed.AI Group

Wow. I can not believe it has actually been four years since I launched our first AI related website.

The progress made this past 12 months has been amazing, and demonstrates the momentum we now have. Our mission remains focused on enabling people to learn more artificial intelligence, making the subject more accessible to everyone. Essentially Supporting the AI Community. 

We have for the first four years been dedicated to individuals and this still remains a key part of our audience, however, we are seeing a great need to support businesses. Our Awards was always targeted to supporting AI companies, but now we need more and more traditional businesses wanting to know more about AI. 

Over the four years, our user base has demonstrated wonderfully encouraging organic growth. We now have close to 1,000 visitors per day to our websites from every country across the world. 6,000 members are part of our Neurons professional network with 25 groups in 15 countries and this is expanding on a weekly basis, and with nearly 100,000 followers of our various social media channels, and several thousand people subscribing to our various newsletters. 

We also have a great network of volunteers, from the chapter leaders of the various meetup groups, to the judges for the for annual achievement awards, and the central team that support me on many other tasks and plans.

This is truly a community for the people, run by the people, and it makes me so proud to be part of it.

I want to thank you all for being part of the community and ask that you share with you friends and colleagues and help us make this the best and biggest AI community. 

Business Focus – AI & Robotics Events (AIR.Events)

Our journey to support businesses wanting to learn more about AI has really started with our acquisition of the AI events company run by CBM. These events include regular Directors’ Forums events, hosted by Gallup in the Shard, our next event is on the 27th June focused on AI & CX Transforming Financial Services. We then have AI Transforming Retail and Customer Data on the 17th July. 

As part of this acquisition we will also be running the AI & Robotics Main Event Conference on the 4th October. 

To support businesses further, we will be organising Roundtable Workshops and Dinners. 

Please visit our site AIR.Events

If your business would like to be involved with these events in any way, please contact us via air@informed.ai or visit our website.

into.AI

into.AI is the main portal for individuals, providing useful information and news on AI, and links to all our other mini-sites. 

We want to thank everyone for their continued involvement. We are always looking for contributors, to submit storiespress releases and thought leadership articles. Sharing your news and thoughts is all part what this ecosystems is designed for, so please don’t hesitate to submit your news on our platform. 

We are now also creating our own unique stories, articles and papers, which we hope you will enjoy. This exclusive content will also be shared as part of our newsletters.

We have a regular spotlight for those AI companies / startups that want to showcase their new products to the community. Totally free method of promoting yourselves. We have also featured individuals who have authored books for example. 

Shared.AI

One of our newest sites is Shared.AI, this is a simply site that allows individuals and companies to submit a range of different AI related information, from links to companies and products to news and press releases. This allows a single place to submit useful information that will be shared across our network. It also has a blog of the most recently submitted items.

Awards.AI

The AI Awards, have been a huge success on a global scale, we have already awarded over 60 winners of the AI Awards. Having now entered our third year, we are making it a much bigger programme of events throughout the year. Currently still open for nominations, across 60+ categories of awards, the judging and showcases will occurring in the coming months at various locations, with the awards ceremony happening in late November / early December. 

The Awards are still open for nominations, visit Awards.AI to submit your nomination before 1st July.

This is the Oscars of the AI tech world, the only independent AI Awards. 

Neurons.AI and Chapters.Neurons.AI

We continue to grow our Professional Network for AI Practitioners and Researchers call Neurons. This is a mix of both online and offline interactions, with meetups, forums, user blogs and messaging. This platform allows us to facilitate the knowledge sharing between organisations, allowing us all to benefit from the open developments of this field. 

We have just launched a new online portal for Neurons.AI and will be combining the chapters site into it very soon. This update will allow us to add more functionality over the coming weeks and months.

We have over twenty Chapters in 15 countries around the world, and continue to grow the number every month.

If you would like to lead a chapter in your City, please let us know.

Our next London meeting is on the 28th May … so please come along … https://Chapters.Neurons.AI/UK/London

Events.AI

Now listing over 200 AI related events, conferences, meetups, one-day events and webinars. With the largest list of discount codes for AI conferences in one place. It is the goto place to see what events are running. Many of the large conference organisers list there events on our site. 

Vocation.AI

We are actively looking to acquire a recruitment company to help us develop and grow our capability around our careers portal and jobs board. 

Showcase.AI

Our newly acquired AI & Robotics Conference will become the AI Showcase in 2020 and we will have two conferences one in London and another in Edinburgh.

In 2021 we will look to expand this to include an international conference.

Management Team & Advisory Board

We are starting the process of getting a management team and advisory board together. This is a critical part of our development as a group, allow us to increase our offerings and to make our products and services more advanced. This marks a new phase of maturity for us, and a significant change to our business structure and organisation.  

This will also allow me to transition more responsibility to a wider team and removing myself as a potential bottleneck. I can then focus on more advanced and new products and services while the team ensure the current platform is stable and continues to grow.

We are also actively looking to establish a global advisory board, if you are interested to join, please let us know via  our contact us page

Having a management team is combined with our strategy of growth by acquisition, with one acquisition already executed this year and two more planned. 

Sponsorship

Our main challenge with this ecosystem, is that there is so much more we would do with the platform, given more time and resources.

We have a number of sponsorship opportunities across the platform, including the Awards, Neurons and our Events. If you would like your company to be associated with the great work we are doing with this ecosystem, please contact us for more details. 

In addition we have a number of additional projects and sites in the planning stage which we will be launching in the coming months, which will add new capabilities to our portfolio of sites.

Volunteers Needed

We are always looking for more help and support from volunteers. 

We need more chapter leaders, and co-leads for each chapter, with additional support for each too.

Much more help on content for many of our sites, from blogs to structured updates on specific sites. We really need alot of help here. Please contact us to find our more.

Partners & Sponsors 

Partnerships, Sponsorships and Business Development are all areas we need to extend and develop over the coming months. We would appreciate any help from people who believe they can contribute to these areas for us.

We Value your Support Feedback and Comments

As always, your feedback is welcomed and encouraged, as we want to make sure we are delivering useful sites and functionality. The best way to do this is email us at talk@into.AI

Thank you for your continued support and encouragement.

From the Informed AI Team

Our group of websites includes:

http://into.AIhttp://Neurons.AI

http://Chapters.Neurons.AI

http://Awards.AI

http://Events.AI

http://Showcase.AI

http://Vocation.AI

http://Study.AI

http://Informed.AI

Our social media:

@into_AI
@Awards_AI

@Events_AI

@Showcase_AI

@Vocation_AI

@Neurons_AI

@Informed_AI

We also have facebook pages and our Informed.AI LinkedIn page.

With thanks 

Andy

Prof Andy Pardoe

Founder of the Informed.AI Group

Pardoe.AI

@Pardoe_AI

The post Celebrating Four Years of the Informed.AI Group appeared first on NEURONS.AI.


Link to Full Article: Read Here

New Portal for Neurons.AI

We are very pleased to announce the launch of a new portal for Neurons.AI. This is the foundation for us to build additional functionality over the coming weeks and months, with a focus on delivering more content, both from our own portfolio of websites but also from user driven content too.

There is a lot of functionality available to users include;

  1. Extensive User Profiles that allow you to share your AI interests and expertise with other members.
  2. Users can submit blogs, articles, news stories and press releases to be shared with the Neurons.AI and Informed.AI community.
  3. A forum area to post questions or answer others.

We will also be combining our chapters website into the our main portal at neurons.ai over the coming weeks too, allowing easy access to information about our network of meet-up groups as well as all the online content too.

We have already included an Events section that lists all the eventbrite details from our various Chapter events. We will be migrating the chapter pages over time too.

We already have over 700 members of the site now, and are looking forward to growing this much more over the coming weeks and months.

As always we welcome your comments, feedback and suggestions, please visit our site and goto our Contact Us page.

The post New Portal for Neurons.AI appeared first on NEURONS.AI.


Link to Full Article: Read Here

BELT AND ROAD FORUM IN CHINA: PRODINTELLIGENCE WINS SECOND PRIZE

 ProdIntelligence – Estonian-based AI and Machine Learning R&D startup – wins the second prize at the annual Belt and Road forum (May 16, 2019) – Chinese government programs aimed to boost trade and other infrastructure in more than 80 countries from Asia to Europe and Africa.

Svitlana Kutia, the Head of Business Development in China presented the main platform – Deep Neural Network (DNN) for a business forecast by Deep Learning Studio. With several projects in Central Europe ProdIntelligence demonstrated the high level of prediction accuracy – up to 95%. This particular factor played a huge role in the jury’s decision to award the company with the second prize.

“China will work with all countries involved under the principle of consultation and collaboration for shared benefits to pursue the Belt and Road initiative against high standards so that it will deliver quality outcomes and create even greater development opportunities for the people in the Asia-Pacific and beyond”, the Chinese president said.

The Belt and Road initiative is Xi’s signature foreign policy plan, unveiled five years ago to boost trade through investment in ports, power plants and other infrastructure. Having since been expanded to the Arctic and South America, the initiative has become synonymous with much of China’s diplomatic and foreign economic activity.

The post BELT AND ROAD FORUM IN CHINA: PRODINTELLIGENCE WINS SECOND PRIZE appeared first on NEURONS.AI.


Link to Full Article: Read Here

Artificial Intelligence In Military Market Trends, Growth Forecast 2019-2028

Artificial Intelligence In Military Market Trends, Growth Forecast 2019-2028

Artificial intelligence is an area of computer science that uses digital computers or robots that have ability to perform tasks by using human intelligence which include learning or acquisition of information, reasoning, and self-correction. Artificial systems are commonly used in expert systems that make complex decisions, speech recognition, evaluate investment opportunities etc.

Increasing adoption of artificial intelligence in consumer electronics and healthcare sector is a primary factor driving demand for this technology in the global market. This demand is expected to increase exponentially during the forecast period owing to increasing application of artificial intelligence in various other sectors. Features such as high computing power and accuracy to enhance productivity and improve customer satisfaction are also some of the factors that are expected to drive demand in the global market.
Rising adoption of artificial intelligence technology in media and advertising to determine the influencing factors for consumer buying behavior is expected to boost demand during the forecast period.

Challenges such as high production and deployment costs are hampering demand for artificial intelligence technology in the market globally. Lack of skilled labor to manage, monitor, and operate systems is restricting growth of the global artificial intelligence market. Majority of companies operating in the market are facing challenge related to accumulating funds for early stage R&D of prototypes and their underlying technologies.

The global artificial intelligence market is segmented on the basis of solution, technology, industry verticals, and region. On the basis of region, the global artificial intelligence market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America is the leading regional market and is expected to hold its dominance over the forecast period owing to increasing adoption of artificial intelligence technology in various sectors, cloud based services, and government funding. Europe is expected to witness remarkable growth during the forecast period. Among other regions, the market in Asia Pacific is expected to register rapid and high revenue growth during the forecast period.

Key players in the global artificial intelligence market are Atomwise Inc., Google Inc., IBM Corp., Microsoft Corporation, Rocket Fuel Inc., Qlik Technologies Inc., MicroStrategy, Inc., Brighterion, Inc., Numenta Inc., Sentient Technologies, and Inbenta Technologies, Inc.

Source: https://marketresearch.biz/report/artificial-intelligence-in-military-market/

home of Artificial Intelligence information

Resource Directory, News Stories, Videos, Twitter & Forum Streams, Spotlight, Awards, Showcase and Magazine

Pin It on Pinterest

Share This

Join Our Newsletter

Sign up to our mailing list to receive the latest news and updates about homeAI.info and the Informed.AI Network of AI related websites which includes Events.AI, Neurons.AI, Awards.AI, and Vocation.AI

You have Successfully Subscribed!