Most Financial Marketers Failing to Leverage Data and AI

“When we asked how adept financial institutions were in using AI to determine next best action/offer for customers or prospects, more than 75% of all banks and credit unions said they were “Not Adept.” While it was not surprising that 78% of the largest organizations thought they were either “Adept” or “Moderately Adept” at determining what to proactively offer customers using AI, it was surprising that organizations with assets between $1 billion and $50 billion consider themselves to be so much worse.”

Utilizing Visual Artificial Intelligence for Ecommerce Monetization

Source: Image by 3D Animation Production Company from Pixabay
  • “Through the power of machine learning, the first step in the process of utilizing your product catalog is to vectorize the item images. This is the process of converting image files into a format that is usable by machine learning algorithms.
  • The next step is to perform multi-label classification and build a taxonomy around your offering. By utilizing a multi-label classification as well as a robust taxonomy, the algorithms will help you identify the product traits most applicable to the media content.
  • The final stage as video content is produced is to run the videos through one or more convolutional neural networks utilizing the product vectorized images previously created.”

The US Department Of Energy Is A Surprising Powerhouse In AI: An Interview With Cheryl Ingstad, Director, AI And Technology Office At U.S. Department Of Energy (DOE)

How important is AI to the DOE’s vision of the future?

Cheryl: I am convinced that AI will prove to be every bit as transformative to our daily lives as the onset of electricity was more than a century ago.

The DOE has been using AI and ML in some very advanced ways. Can you share some examples of how you are applying AI?

Cheryl: Today, DOE and its national laboratories are leading more than 600 different AI projects that are designed to strengthen our core missions of energy, cyber, and national security, and to accelerate scientific discovery.”

CB Insights: AI venture deals in Q2 2020 slump to lowest since 2017

  • “According to a new report from CB Insights, AI-related startups raised $7.22 billion in 458 deals during the three months ending June 30. Both figures were down from the $8.4 billion invested in 516 deals during the first quarter of 2020.
  • Heading into 2020, AI had become one of venture capital’s hottest sectors. AI startups raised a record $26.6 billion in 2019, spanning more than 2,200 deals worldwide”

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