Here’s how to build an AI strategy that successfully connects with customers, according to technology executives and an AI engineer

  • “While voice assistants and autonomous technology can dominate conversations around AI, decision-making powered by machine intelligence is the vast middle ground that is realistic for the majority of companies.
  • The report cited research showing only 15% of small businesses had implemented AI-powered chatbots while mid-sized companies showed 39% adoption rates, and large companies came in at 67%.”

https://www.businessinsider.com/sc/how-to-build-an-ai-strategy-that-connects-with-customers-2020-8

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Bots For The People, By The People At Bank Of Montreal

  • “After exploring intelligent automation for several years now, BMO is accelerating its robotic process automation (RPA) strategy.
  • BMO has employed automation for hundreds of processes and in doing so, created millions of dollars in value for the bank.
  • Bots are helping their BMO colleagues by performing testing and monitoring functions, tightening controls, fighting crime and speeding up client onboarding processes.
  • Launched on March 13, RAMBO (Remote Access Management Bot) was integral during the first stages of the COVID19 response, enabling BMO to quickly and effectively transition its workforce to remote network access. More than 11,000 requests were reviewed and triaged by RAMBO, providing an additional 1,300 hours of team capacity to address this critical activity.”

https://www.google.com/amp/s/www.forbes.com/sites/tomdavenport/2020/08/03/bots-for-the-people-by-the-people-at-bank-of-montreal/amp/

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How AI Can Improve Financial Analytics

  • “Fintech is forecast to achieve a compound annual growth rate (CAGR) of 25% through 2022, reaching a market value of $309B. The broader financial services market expected to reach $26.5T by 2022, achieving a 6% CAGR.
  • The following graphic from the World Retail Banking Report, 2020 by Capgemini and Efma, reflects how traditional banks and financial services firms are not capitalizing on the data richness they have available to them.
  • Deloitte Insights’ recent survey of AI and machine learning adoption in Financial Services found firms cluster in three performance categories of Starters, Followers and Frontrunners.”

https://www.google.com/amp/s/www.forbes.com/sites/louiscolumbus/2020/07/23/how-ai-can-improve-financial-analytics/amp/

AI in Fintech Market 2020 | Research Objectives and Methodology, Growth Analysis, Top Manufacturers Sales, and Cost Structures Forecast 2024

“Fintech space is one of the fastest growing industry across the world, owing to the rising penetration of internet users. The users are rapidly switching to mobile devices to perform a transaction or related actions, owing to rising ease and growing internet user base. Thus, mobile technologies are supporting the fintech revolution, providing innovative, secure, and accessible solutions to financial services and products, and are using AI for managing structured and unstructured data.”

AI in Fintech Market 2020 | Research Objectives and Methodology, Growth Analysis, Top Manufacturers Sales, and Cost Structures Forecast 2024

Researchers Design AI Model Capable of Distinguishing Different Odor Percepts

  • “Recently, a team of scientists from University of California, Riverside managed to create an AI capable of distinguishing smells from one another based on the chemical makeup of the odor in question.
  • The human nose contains approximately 400 olfactory receptors (ORs) that are activated when chemicals enter the nose.
  • As Phy.org reported, Ray explained that researchers attempted to model human olfactory percepts through a combination of machine learning algorithms and chemical informatics.
  • According to the researchers, the OR activity could be used to correctly predict the percepts of 146 different chemicals.”

Researchers Design AI Model Capable of Distinguishing Different Odor Percepts