Industry News: Machine Learning and Artificial Intelligence News

October 9, 2017

Rise of the machines: 5 Chicago startups breaking new ground with chatbots

…s tool, helping companies reduce the time spent fielding routine inquiries and collecting valuable user data from the conversations they have.

Chicago’s B2B startup culture and status as a leader in artificial intelligence make it an ideal place to launch and grow a chatbot company. Here are a few of the startups helping establish the Windy City as an emerging leader in the field.

Trying to navigate a health plan can be confusing at best and soul-crushing at worst. HealthJoy knows this, which is why it built a chatbot-powered mobile app to help employees better understand their coverage. Joy can access benefit inf…
2017-10-06 00:00:00 http://www.builtinchicago.org/2017/10/06/chicago-chatbot-startups

JPMorgan created a new position to unleash emerging technology onto its investment bank

…ted position according to an internal memo seen by Business Insider. The news was first reported by Bloomberg News’ Hugh Son.

Chandarana will be responsible for heading the bank’s strategy to deploy machine learning and data-based solutions throughout the corporate and investment bank, according to the memo penned by Sanoke Viswanathan, head of the chief administration office for CIB. To that end, Chandarana will collaborate within specific units to “develop cohesive data science strategy, coordinate and help prioritize the portfolio of projects, and develop a framework for the appropriate sourcing and usage…
2017-10-06 00:00:00 http://www.businessinsider.com/jpmorgan-created-a-new-position-to-unleash-emerging-technology-onto-its-investment-bank-2017-10

The Massive Hedge Fund Betting on AI

…blink.” About five years ago, he did, though—in a big way. What spooked him was an experiment at his firm, Man Group Plc. Engineers at the company’s technology-centric AHL unit had been dabbling with artificial intelligence—a buzzy, albeit not widely used, technology at the time. The system they built evolved autonomously, finding moneymaking strategies humans had missed. The results were startlingly good, and now Ellis and fellow executives needed to figure out their next move.

Man Group, which has about $96 billion under management, typically takes its most promising ideas from testing to trading real money withi…
2017-09-27 00:00:00 https://www.bloomberg.com/news/features/2017-09-27/the-massive-hedge-fund-betting-on-ai

OCBC, StarHub ink first bank-telco deal in Singapore

…ship, both firms will harness the power of data in understanding customer needs and deliver more relevant solutions to their combined client base of over five million. They will also explore areas of Artificial Intelligence and Internet of Things to provide customers with enhanced connectivity.

“This partnership is born out of the strong belief by both of us that by innovating together, rather than each doing its own thing, we can serve our consumers more comprehensively, effectively and efficiently. StarHub and OCBC have been very active in the space of digital innovation,” OCBC CEO Samuel Tsien commented.

To com…
2017-10-09 14:23:47+08:00 http://www.ibtimes.sg/ocbc-starhub-ink-first-bank-telco-deal-singapore-17734

Morgan Stanley Hones Advisers with Machine Learning

… 16th birthday,” said Kovel. “Now, they will know when their clients are about to have a life event and help them plan for those events.”

Morgan Stanley’s wealth management business has been using machine learning for the past to refine and personalize its research offerings.

“Back in the 00s, we used to carpet bomb our research to every single client without knowing what they wanted to read,” explained Kovel.

For the past five years, the asset manager has constructed client profiles regarding what research they read.

“By putting research consumers into groups, it also helps us recommend research that t…
2017-09-27 17:09:36+00:00 https://marketsmedia.com/morgan-stanley-hones-advisers-machine-learning/

The head of investment themes at UBS explains the big trends every investor should know

…erging markets.

And what we’re seeing is advances in technology that are helping to get more crops out of the same space. It could be using more machines instead of human labor or using big data and artificial intelligence to help forecast everything from weather patterns to optimizing crop-rotation patterns. So there really is a pretty wide opportunity set.

Turner: And on the demographic side, we hear a lot about there being this demographic time bomb and pension crisis wherein the working population isn’t sufficient to support the pension population. So how do you see that and what are some of the solutions to t…
2017-10-01 00:00:00 http://www.businessinsider.com/head-of-investment-themes-ubs-on-global-trends-investors-should-know-2017-9

Technology Drives Fixed-Income Growth

… data is becoming increasingly valuable (and therefore more expensive) cancelling out much of the cost saving,” Hodgson said.

Also, with the rise of technologies automation technologies, such as artificial intelligence, machine learning and quantitative trading, data is only going to become more important.

“Addressing this must be one of the key technology focuses for the fixed income market. Dealers have huge amounts of data which is proprietary through the normal process of doing business, but many of the insights in that data are left untapped,” Hodgson said. “Trade data is spread across desks in different …
2017-10-05 11:50:17+00:00 https://marketsmedia.com/tech-spending-key-fixed-income-market-growth/

Distribution Increasingly Key to Success in Asset Management

…rom today’s. To be among them, asset managers will need to seize opportunities to act boldly and transform the very way they work, through innovation that fully embraces advanced technologies such as artificial intelligence, machine learning, big data, and analytics. This will be especially true in investment management and distribution.”

Further, the report notes: “Players will need to become alpha shops, beta factories, solution providers or distribution powerhouses.”

eVestment’s five-step distribution framework outlines a strategic approach that can help firms identify and execute on opportunities efficiently a…
2017-10-04 11:02:58-04:00 https://www.evestment.com/distribution-increasingly-key-success-asset-management/

The head of investment themes at UBS explains the big trends every investor should know

…erging markets.

And what we’re seeing is advances in technology that are helping to get more crops out of the same space. It could be using more machines instead of human labor or using big data and artificial intelligence to help forecast everything from weather patterns to optimizing crop-rotation patterns. So there really is a pretty wide opportunity set.

Turner: And on the demographic side, we hear a lot about there being this demographic time bomb and pension crisis wherein the working population isn’t sufficient to support the pension population. So how do you see that and what are some of the solutions to t…
2017-10-01 00:00:00 http://www.businessinsider.com/head-of-investment-themes-ubs-on-global-trends-investors-should-know-2017-9

Introductory guide to Linear Optimization in Python (TED videos case)

…Introduction

Data Science & Machine Learning are being used by organizations to solve a variety of business problems today. In order to create a real business impact, an important consideration is to bridge the gap between the data science pipeline and business decision making pipeline.

The outcome of data science pipeline is uaully predictions, patterns and insights from data (typically without any notion of constraints) but that alone is…
2017-10-09 07:48:50+05:30 https://www.analyticsvidhya.com/blog/2017/10/linear-optimization-in-python/

How Amazon made use of AI and developed Amazon Echo

… changing the way, we users interact. (The link to the previous article is here, you can check out here). Today I’ll be talking about how one of the biggest e-commerce platforms, Amazon made use of Artificial Intelligence and developed a product called Amazon Echo. Artificial Intelligence is all about providing intelligence to machines and systems that understand you, that understands the user and works or takes action accordingly. In this article, understand how Amazon made it possible and how it went to develop a smart speaker which is called an Amazon Echo.

As we all are aware of the fact that Amazon is one of…
2017-10-08 19:14:58+00:00 http://technoitworld.com/amazon-made-use-ai-developed-amazon-echo/

Google Home and Home Mini: The Smart AI device to simplify your tasks

…Hello, everyone! In the last article, I detailed about how one of the biggest e-commerce giants made use of artificial intelligence and developed the Amazon Echo. Echo is a smart speaker which consists of an intelligent voice assistant system called as Alexa. (To know more about Amazon Echo, you can take a look here at the article). In this article, I’ll be talking about the biggest software company, Google too developed a smart home device and named it as Google Home and Google Home Mini. Both devices were launched separatel…
2017-10-09 05:15:52+00:00 http://technoitworld.com/google-home-home-mini-smart-ai-device-simplify-tasks/

AI Can Now Be Used to Predict Partnership Marketing Relationships

Artificial Intelligence (AI) is at work (again) in another field; partnership marketing. Performance Horizon has developed an AI application that can predict how partnerships will perform in the future. By the way, this is a HUGE space that has been kind of overlooked. Being able to predict how partnerships will perform before setting out sure saves a lot of time and effort (money too). Hmmmm, just thinking, does AI pre…
2017-10-08 14:21:07-04:00 http://finteknews.com/ai-can-now-used-predict-partnership-marketing-relationships/

Boeing bets big on flying taxis and pilotless planes

… that would hamper the growth of world air travel. Boeing estimates the industry will need 637,000 pilots over the next 20 years.

“We’re looking at what with the advances in sensing technology, artificial intelligence and other areas around autonomous flight, what that can do to make an already safe airplane even safer,” said Hyslop today.

Related: Pilotless planes could save airlines billions. But would anyone fly?

Acquiring the technology may be the easy part. Convincing the public that autonomous aircraft are safe looks to be more difficult. Only 17% of flyers said they would fly on a pilotless aircraft, …
2017-10-05 00:00:00 http://money.cnn.com/2017/10/05/news/companies/boeing-acquires-aurora-autonomous-797-air-taxi/index.html

How AI is dominating the marketing? 5 real time observations

…Watson, IBM’s artificial intelligence platform, is loquacious: it tells jokes, answer the questions and write songs as well. Google’s AI platform can read lips better than a professional do, and it is capable enough to master video games within a short period. MIT’s AI predicts actions on video two seconds before it begins. Tesla has another AI platform which successfully powering the company to introduce self-driving cars. All these…
2017-09-26 11:00:42+00:00 http://bigdata-madesimple.com/how-ai-is-dominating-the-marketing-5-real-time-observations/

Python vs R for data analysis: An infographic for beginners

…od resources that can help you to figure out the strengths and weaknesses of both languages. They often go into great detail, and provide a tailored answer to questions such as “What should I use for Machine Learning?”, or “I need a fast solution, should I go for Python or R?”

In today’s post, I present to you our new Infographic “Data Science Wars: R vs Python”, that highlights in great detail the differences between these two languages from a data science point of view. So that next time you are debating R vs Python for machine learning, statistics, or maybe even the Internet of Things, you can have a look…
2017-09-28 11:00:51+00:00 http://bigdata-madesimple.com/python-vs-r-for-data-analysis-an-infographic-for-beginners/

Is Spark better than Hadoop Map Reduce?

… programming and interactive analytics. Spark provided an in-memory primitive models that loads the data into memory and query it repeatedly. This makes Spark well suited for a lot data analytics and machine learning algorithms.

Note that, Spark only defines the distributed processing model. Storing the data part is not addressed by Spark and it still relies on hadoop (HDFS) to efficiently store the data in a distributed way.

Spark is setting the big data ecosystem on hyperdrive. It promises to be 10-100 times faster than MapReduce. Many think this could be the end of MapReduce.

Ease of Use

Spark is easy …
2017-10-06 11:00:48+00:00 http://bigdata-madesimple.com/is-spark-better-than-hadoop-map-reduce/

For AI to change business, it needs to be fueled with quality data

…is the Chief Evangelist at Talend, has been working with integration companies for nine years now and has been part of Talend for over a year.

When asked about the link between both Data Quality and Artificial Intelligence, Nick Piette responded with authority that you cannot do one without the other. Both data quality and AI walk hand-in-hand, and it’s imperative for data quality to be present for AI to be not only accurate, but impactful.

To better understand the concept of data quality and how it has an impact on AI, Nick used the help of the five R’s method that he mentioned was taught to him by David Shrier, …
2017-10-05 13:21:10+00:00 http://bigdata-madesimple.com/ai-change-business-needs-fueled-quality-data/

How one company learned to reinvent itself daily in the AI age

…er this week that could let you buy a life insurance policy in just a few minutes after answering about 30 questions — possibly with no medical checkup. That speed of underwriting is made possible by artificial intelligence the two-year-old company has built into its offering.

The company is one example of a new breed of fast-moving businesses built atop AI. It’s difficult to get a good idea of the types of machine learning these companies are building into their products, as they’re giving very little away at this stage. But they’re constantly iterating: testing out new machine-run decision-making processes and th…
2017-10-06 00:00:00 https://venturebeat.com/2017/10/06/how-one-company-learned-to-reinvent-itself-daily-in-the-ai-age/

How chatbots could change customer service over the next 5 years

…lies, though it’s unlikely that bots will replace humans entirely.

-New features like natural language processing are improving chatbots everyday, but engineers are still trying to find ways to make artificial intelligence learn quicker with less data.

As more companies come to embrace chat functions to complement or reduce human phone centers, rudimentary human-to-human chat conversations will soon be a thing of the past, according to experts in the field. In the next three to five years alone, chatbots will become nearly ubiquitous, and work seamlessly with human customer support agents to provide customers with…
2017-09-27 00:00:00 http://www.businessinsider.com/how-chatbots-could-change-customer-service-over-the-next-5-years-2017-9

Google takes on GoPro, Snap with compact smart camera

…t on Wednesday.

Google Clips will be the first standalone camera from the search and advertising company, which has expanded its hardware business over the last year.

Its signature feature draws on machine learning technology to automatically begin recording when notable actions are detected. Those could include a child cracking a smile or a dog entering the frame.

It was one of a suite of new products unveiled by Alphabet Inc’s (GOOGL.O) Google on Wednesday. Its move into smartphones, speakers and laptops has put the search giant into competition with Apple Inc (AAPL.O) and Amazon.com Inc (AMZN.O).

Clips…
2017-10-04 23:18:05+00:00 https://www.reuters.com/article/us-google-hardware-clips/google-takes-on-gopro-snap-with-compact-smart-camera-idUSKBN1C9347

BBC is launching an interactive radio show for Echo

…The future of entertainment is here. The BBC, in collaboration with Rosina Sound, is working on an interactive radio play for artificial intelligence-enabled home chatbots, like Amazon’s Echo and Google Home.

The production will be the first of its kind, and the futuristic, high-tech play is slated to be released by the end of the year.

Do you have an AI strategy — or hoping to get one? Check out VB Summit on October 23-24 in Berkeley, a high-level, invite-only AI event for business leaders.

The play’s the thing

The story, called The Inspe…
2017-10-07 00:00:00 https://venturebeat.com/2017/10/07/bbc-is-launching-an-interactive-radio-show-for-echo/

Gadget spots fake luxury handbags with a 98.5 percent accuracy rate

… friends and second-hand shops to let them scan the items into their database. SOUNDBITE (English) ENTRUPY CO-FOUNDER AND CEO, VIDYUTH SRINIVASAN, SAYING: “It works with a mix of microscopy and machine learning, or AI, as it’s called today. And what we do is we essentially collect a massive – I’m talking tens of millions of microscopic images – we collect microscopic image data from physical items. So in a sense we’re cataloging the world of physical objects in a microscopic way and then we’re teaching computers to understand the differences in how authentic objects are made, versus how fakes are made.”…
2017-10-05 00:00:00 http://www.reuters.com/video/2017/10/05/gadget-spots-fake-luxury-handbags-with-a?videoId=372678236&videoChannel=118065&channelName=Moments+of+Innovation

Professional translators aren’t worried about Google’s language-translating headphones

… have Google Translate software built in, capable of translating 40 different languages as they’re spoken to you.

So should professional translators and interpreters start getting freaking out about artificial intelligence (AI) stealing their jobs?

Business Insider asked a handful of people working in the field for their thoughts. The verdict: While the tech is exciting, and has obvious consumer applications, they’re not worried.

Translation software recognises words — but not meaning

Take the following sentence: “The hand made fun of the worm for not knowing what mud was, let alone a moon pool. The toolpusher a…
2017-10-07 00:00:00 http://uk.businessinsider.com/professional-translators-reactions-google-pixel-buds-2017-10

SoftBank: The new kingmaker in tech

…licon Valley.

The fund’s stated mission is to invest in “foundational platforms” that will shape the world in the decades to come. In particular, SoftBank’s investment team is focusing on areas like artificial intelligence, robotics and enterprise applications.

Softbank has invested billions this year in startups like WeWork, Slack and Fanatics, a sports e-commerce company, with more businesses eager to join the club. This week, Uber’s board voted to move forward with a deal that could see SoftBank invest as much as $10 billion.

The nearly unprecedented scale of these investments offers startups the perks of goin…
2017-10-05 00:00:00 http://money.cnn.com/2017/10/05/technology/business/softbank-investments-uber/index.html

AI-powered facial recognition will soon track us while we shop

…ges — games that capture your facial data and use it to generate some kind of fun image or illusion. Any time your facial data is stored, there’s a possibility for resale and reapplication powered by machine learning through AI. So, what are some of the ramifications of giving up your face data?

Facebook alone has 1.2 billion faces scanned, stored and recognized, according to the Economist. Facebook users get the convenience of auto-tagging and in return, our faces are used as one more data element in Facebook’s revenue toolbox. In this situation and others, rarely, if ever, do we read terms and conditions. …
2017-10-08 00:00:00 https://venturebeat.com/2017/10/08/ai-powered-facial-recognition-will-soon-track-us-while-we-shop/

Intrapreneurship is getting hotter — thanks to AI

…alies in market trends, and brainstorming improvements to the sales funnel. More importantly, imagine that they could then use their findings to develop innovative solutions for their companies.

New artificial intelligence platforms are capable of parsing and responding to emails and scheduling requests, unshackling employees from their inboxes for the first time in decades. AI is also becoming a key tool in data entry and report generation, further relieving workers of the least cognitively rewarding tasks. One World Bank productivity expert stated, “All over the world, including in the United States and Europe, j…
2017-10-07 00:00:00 https://venturebeat.com/2017/10/07/intrapreneurship-getting-hotter-thanks-to-ai/

Intrapreneurship is getting hotter — thanks to AI

…alies in market trends, and brainstorming improvements to the sales funnel. More importantly, imagine that they could then use their findings to develop innovative solutions for their companies.

New artificial intelligence platforms are capable of parsing and responding to emails and scheduling requests, unshackling employees from their inboxes for the first time in decades. AI is also becoming a key tool in data entry and report generation, further relieving workers of the least cognitively rewarding tasks. One World Bank productivity expert stated, “All over the world, including in the United States and Europe, j…
2017-10-07 00:00:00 https://venturebeat.com/2017/10/07/intrapreneurship-getting-hotter-thanks-to-ai/

Boeing bets big on flying taxis and pilotless planes

…uture that would hamper the growth of world air travel. Boeing estimates the industry will need 637,000 pilots over the next 20 years.

“We’re looking at what with the advances in sensing technology, artificial intelligence and other areas around autonomous flight, what that can do to make an already safe airplane even safer,” said Hyslop today.

Related: Pilotless planes could save airlines billions. But would anyone fly?

Acquiring the technology may be the easy part. Convincing the public that autonomous aircraft are safe looks to be more difficult. Only 17% of flyers said they would fly on a pilotless aircraft, …
2017-10-05 00:00:00 http://money.cnn.com/2017/10/05/news/companies/boeing-acquires-aurora-autonomous-797-air-taxi/index.html?section=money_topstories

AI-backed voice assistants make customer support efficient yet human

… through a human voice, empathy, and even sometimes humor.

These technologies can also be integrated into IT service desk solutions so that an employee seeking IT support communicates first with the artificial intelligence and is only directed to a human agent if necessary. Using the voice-based virtual assistant, the solution can offer self-help resources and resolve a number of level 1 support requests on its own, relieving human support agents and freeing them to focus on more strategic work.

Humans and virtual assistants pair perfectly

Voice-based virtual assistants present a great opportunity, but they shoul…
2017-10-08 00:00:00 https://venturebeat.com/2017/10/08/ai-backed-voice-assistants-make-customer-support-efficient-yet-human/

AI innovations have an inevitable effect on human emotions

Artificial intelligence is spreading around us. Be it targeted advertising on social media, filtering applicants for a job, determining air ticket prices, controlling your central heating through voice recognition, creating cultural output, or regulating traffic flow, AI is performing an increasing number of tasks in human life.

By the end of 2017, Elon Musk confidently predicts, a driverless Tesla car will be able to …
2017-10-06 00:00:00 https://venturebeat.com/2017/10/06/ai-innovations-have-an-inevitable-effect-on-human-emotions/

Zillow creates new ‘3D Home’ feature with special photo app to bring 360-degree tours to listings

…alking tour where you might have to wait for a video to get to parts of a house you want to see, the 3D Home experience allows users to select from available rooms via thumbnails.

“There is a lot of machine learning and computer vision work to figure out where the capture was taken, and how to intelligently stitch them together,” Wacksman said. “More will come here as we build more software, and as the phones get better cameras.”

A Zillow team has been working on the product for about two years and was assembled around a researcher from the University of Washington whose wife already worked at Zillow.

“Aft…
2017-10-05 15:30:09+00:00 https://www.geekwire.com/2017/zillow-creates-new-3d-home-feature-special-photo-app-bring-360-degree-tours-listings/#disqus_thread

Mobile chip giant Arm opening Bellevue office with focus on artificial intelligence and IoT development

…ally every smartphone on the planet, is opening a Bellevue-based engineering center as it eyes the talent pool in the Pacific Northwest.

The new office will be working on research and development of artificial intelligence, robotics, and health care, Arm said in a blog post announcing the move. “Due to the density of major cloud and IoT players in the region, and their investments in machine learning and artificial intelligence, Seattle is the ideal place to work alongside customers and partners who are building the software and services that will power and connect the next 100 billion Arm-based devices,” wrote Rex…
2017-09-26 21:26:56+00:00 https://www.geekwire.com/2017/mobile-chip-giant-arm-opening-bellevue-office-focus-artificial-intelligence-iot-development/