By Rutu Shah
What is Artificial Intelligence?
Artificial Intelligence (AI) is intelligence demonstrated by machines, in contrast to the natural intelligence displayed by humans.
How does AI work?
AI works by combining large amounts of data with fast, iterative processing and intelligent algorithms, allowing the software to learn automatically from patterns or features in the data.
It uses algorithms and historical data to create something called a propensity model. Propensity models will then start making predictions.
- Warner Brothers to use AI to decide the best time to release movies.
- 8 Indian Airports selected to test AI-run baggage screening system.
- Samsung has unveiled “Artificial Humans”, called as NEON, that can talk like humans with emotions.
- SEBI to tap AI, big data analytics to curb market manipulation.
- AI accurately identifies brain tumor.
- Facebook trains AI robot to navigate ‘without a map’.
- Chinese primary schools have got kids to wear “mind-reading” headbands to ensure they pay attention in class.
- Clix capital, NBFC, has developed advanced statistical and machine learning models in-house and makes use of it while sanctioning every loan.
Their next focus is video analytics, wherein video snippets during loan application stage are collected and emotional sentiment analysis shall be used to predict willingness and ability to pay.
- Recently, 931 cases of fraudulent ITC (input tax credit) claims were identified using data analytics.
- Icelandic singer Bjork uses AI to create music that changes with the sky.
- IIT Kharagpur develops AI-powered tech for reading legal cases.
- Visit health, a startup tapped into OPD Market, which stands for $5-6 billion, using AI.
This AI driven platform helps patients consult doctors, get diagnostic tests, manage lifestyle issues, and offers OPD cost cover too.
- Mitsuku is a bot used to fight depression. It was introduced in year 2013.
- 2020 is the year wherein we’ll know the result of japan deploying hundreds of bots for Olympics.
Whom can AI aid?
- Benefits Mangers:
Benefits managers administer a company’s employee benefits program, which may include retirement plans, leave policies, wellness programs, and insurance policies such as health, life, and disability. They select benefits vendors and manage enrolment, renewal, and delivery of benefits to the organization’s employees.
As businesses are expanding, benefits and compensation management systems are getting automated thus saving a lot of time and effort.
- Delivery Partners:
Get ready to have your courier and other mailing services delivered by drones and robotic devices as delivery partners will no longer be needed.
The government has asked to get the drones registered by 31stJanuary,2020.
These tools primarily comprise of self-checking mechanisms and applications that detect grammatical errors and plagiarism and even correct the sentences on their own.
An example of one such tool is Grammarly.
- Book-Keeping Professionals:
Tools and applications such as MS Office, QuickBooks, and several other improving technologies and increased adaptation of these tools will make this the job extinct.
The job of book-keeping professionals will no longer need a human for keeping books in check. In fact, this job is already on a path of decline with an expectation of an 8% reduction by 2024.
- Computer Support Specialists:
Automated systems like chatbots use available content to answer FAQs and address customer support questions.
- Data Analyst:
The application of AI in marketing predominantly involves analysing data insights and automating content.
- Receptionist: AI shall also undertake the tasks of a receptionist, using the raw data available, process it and draw meaningful insights.
Why securing AI systems makes sense?
And how can it be done?
AI training data and ML models will need to be protected by techniques like homomorphic encryption, which performs complex mathematical operations on encrypted info without decrypting it first.
Organizations will need to protect their AI models against concept drift, as it can make an AI model irrelevant and cause the system to lose control.
Indian Government is working on implementing a data protection law similar to the European Union’s GDPR.
Organizations will pay closer attention to protection techniques such as Data Loss Prevention (DLP), & Endpoint Detection and Response(EDR).
IBM urged govt. and industry to jointly develop standards to measure and combat potential discriminations.
Few Companies With AI Base:
Industry: Healthtech, Biotech, Big Data
What it does: Tempus uses AI to gather and analyze massive pools of medical and clinical data at scale. The company, with the assistance of AI, provides precision medicine that personalizes and optimizes treatments to each individual’s specific health needs; relying on everything from genetic makeup to past medical history to diagnose and treat.
Industry: Big Data, Software
What it does: DataRobot provides data scientists with a platform for building and deploying machine learning models.
Industry: Big Data, Software
What it does: Narrative Science creates natural language generation (NLG) technology that can translate data into stories.
Industry: Software, Cloud
What it does: Cognitive Scale builds augmented intelligence for the healthcare, insurance, financial services and digital commerce industries. Its technology helps businesses increase customer acquisition and engagement, while improving processes like billing and claims.
What it does: AlphaSense is an AI-powered search engine designed to help investment firms, banks and Fortune 500 companies find important information within transcripts, filings, news and research.
Industry: Machine Learning, Software
What it does: Neurala is developing “The Neurala Brain,” a deep learning neural network software that makes devices like cameras, phones and drones smarter and easier to use. Neurala’s solutions are currently used on more than a million devices. Additionally, companies and organizations like NASA, Huawei, Motorola and the Defense Advanced Research Projects Agency (DARPA) are also using the technology.
Industry: Automotive, Transportation
What it does: With a mission to provide safe efficient driverless vehicles, Nutonomy is developing software that powers autonomous vehicles in cities around the world. The company uses AI to combine mapping, perception, motion planning, control and decision making into software designed to eliminate driver-error accidents
Industry: Adtech, Software
What it does: Persado is a marketing language cloud that uses AI-generated language to craft advertising for targeted audiences. With functionality across all channels, Persado helps businesses increase acquisitions, boost retention and build better relationships with their customers.
Industry: Machine Learning
What it does: X.AI creates autonomous personal assistants powered by intelligent technology. The assistants, simply named Amy and Andrew Ingram, integrate with programs like Outlook, Google, Office 365 and Slack, schedule or update meetings, and continually learn from every interaction.
BLUE RIVER TECH
Industry: Agriculture, Robotics, Software
What it does: Blue River Tech combines artificial intelligence and computer vision to build smarter farm tech. The company’s See & Spray machine learning technology, for example, can detect individual plants and apply herbicide to the weeds only. The solution not only prevents herbicide-resistant weeds but reduces 90% of the chemicals currently sprayed.
What it does: Insilico Medicine is using artificial intelligence for anti-aging and drug discovery research. The company’s drug discovery engine contains millions of samples for finding disease identifiers. Insilico is used by academic institutions, pharmaceutical and cosmetic companies.
Industry: Hardware, Software
What it does: Nvidia Corporation builds graphics processing units and hardware to power various types of AI-enabled devices. The company’s technology is used for everything from robots and self-driving vehicles to intelligent video analytics and smart factories.
Industry: Big Data, Software
What it does: Orbital Insight uses geospatial imagery and artificial intelligence to answer questions and gain insights invisible to the naked eye. Using data from satellites, drones, balloons and other aircrafts, the company can provide insights and forecasts to the agriculture and energy industries that normally wouldn’t be available.
What it does: Sift Science provides multiple fraud management services all in one platform. Sift uses thousands of data points from around the web to train in detecting fraud patterns. The technology helps payment processors, marketplaces, e-commerce stores and even social networks prevent fraud.