Data labeling will fuel the AI revolution

“To give another example, to train an algorithm to analyze medical images for signs of cancer, you would need to have a large dataset of medical images labeled with the presence or absence of cancer. This task is commonly referred to as image segmentation and requires labeling tens of thousands of samples in each image. The more data you have, the better your model will be at making accurate predictions.

Sure, it’s possible to use unlabeled data for AI training algorithms, but this can lead to biased results, which could have serious implications in many real-world cases.”

The Future of Conversational AI in Banking

  • “‘Virtual assistants can and should go well beyond a ‘point in the right direction’ or FAQ to handle complete transactions — from changing an address to cancelling a payment and updating a standing order to identifying a specific need and routing the customer to correct specialist,’ says Can Kekevi (Accenture).
  • The future of conversational AI in banking may not simply be only about banking, but rather banking would merely be one aspect of how the average consumer uses conversational AI in their daily life, says Peter Wannemacher, principal analyst, digital banking at Forrester.
  • Since then, mobile apps have grown twice as fast as chatbots. Both channels are on the rise compared with website usage, which has declined for customer service use, yet websites are still used by almost 50% of customers versus about 23% for chatbots.
  • Personalization is also something customers are asking for. Only about 30% of bank customers that use mobile banking report that their financial institution offers personalized content and recommendations, according to Javelin. Conversational AI should reflect this need.”

Dent Reality Raises $3.4 Million to Bring Augmented Reality to Retail Locations

“The UK-based augmented reality startup, Dent Reality, raised the equivalent of $3.4 million USD in its most recent funding round. Dent Reality has created an AR app for smartphones that helps shoppers navigate retail locations by providing a layout of a store’s aisles, while showing where to find specific items. The company works mainly with grocery stores but aims to integrate its tech with all types of physical spaces. Dent Reality CEO Andrew Hart joins Cheddar News’ Closing Bell to discuss.”

3 Areas Where AI Will Boost Your Competitive Advantage

  • “Real-time optimization has an immediate, and often dramatic, impact on companies’ bottom lines. One retailer we worked with increased its profit margins by 50% after using AI to instantaneously optimize its offers. It expanded sales of core products with AI-developed, margin-driving promotions and halted margin-destroying special deals — all without investing much lead time in building up and testing new data.”