Technology provides a lending hand to the banking industry

  • “However, our research found that only three per cent of financial services firms are harnessing the potential of their unstructured data. Unstructured data includes data stored as audio, video and email files, and it accounts for around 80 per cent of the data that financial services firms hold.
  • Analysing unstructured data with ML could help banks uncover important patterns in customer liaison and react to potential problems proactively. For example, it can indicate that a customer may be on the brink of switching their current account, or identify when a customer may be about to default on debt payments.”

Wichita State named a founding member of artificial intelligence research group

  • “The university has been named a founding member of the AI Institute for Foundations for Machine Learning (IFML), which has been established with a $20 million grant from the National Science Foundation.
  • The institute will be physically located at the University of Texas-Austin, where the work of UT and WSU researchers will be joined by others from Microsoft Research and the University of Washington — near another aerospace manufacturing hub in Seattle as WSU is in Wichita.”

Kaushik Sinha

Associate Professor – Wichita State

China Tightens AI Export Restrictions

  • “Microsoft Corp., Walmart Inc. and Oracle Corp. have all expressed interest in the breakout app, the success of which rests on addictive video feeds powered by ByteDance’s AI-driven content-recommendation engine.
  • China announced new restrictions on artificial-intelligence technology exports that could further complicate the sale of TikTok’s U.S. operations, while intensifying the tech battle between the world’s two largest economies.”

Why Digital Transformation Always Needs To Start With Customers First

  • “AI and machine learning are considered essential to digitally transforming organizations and making all processes more customer-centric, with 41% of CEOs saying these technologies will improve data governance and data analytics capabilities.
  • Enterprises that have customer centricity and a data-driven mindset are the most likely to succeed with a digital transformation initiative.
  • 62% of organizations say delivering an excellent customer experience as measured by customer satisfaction scores defines success as a digital-first business, according to a recent IDG study.”

Why some artificial intelligence is smart until it’s dumb

Melanie Mitchell

“We humans tend to overestimate artificial intelligence advances and underestimate the complexity of our own intelligence,” Mitchell writes. Fears of superintelligent machines taking over the world are therefore misplaced, she suggests, citing comments by the economist and behavioral scientist Sendhil Mullainathan: “We should be afraid,” he wrote. “Not of intelligent machines. But of machines making decisions that they do not have the intelligence to make. I am far more afraid of machine stupidity than of machine intelligence.”


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