Reality And Errors About The Future Of Artificial Intelligence (AI)

  • “More than 40% of companies expect AI to be a game changer. The German government also wants to accelerate the introduction and development of AI technologies. It plans to invest 3 billion euros in AI research by 2025. But 77% of companies also say that acceptance in the economy is a challenge. 
  • According to Statista, the world’s large data market will grow to $ 103 billion by 2027, more than doubling its market size in 2018.”

China’s AI Industry to Top $30B by 2022: Report: Chinese Institute of Electronics- PingWest

  • “China is playing a leading role in computer vision and language recognition, which is expected to boost the industry to more than $8 billion by 2022, the report says.
  • By the end of 2018, there were more than 1.9 million new AI professionals over the world, half of whom were from the United States.
  • Additionally, a total of 367 schools in the world were engaged in AI research by the end of 2018, among which the United States had 168 schools and China 33.”

Four Ways Leaders Can Gain Value from AI and Advanced Analytics – Knowledge@Wharton

“Four self-reflections for leaders that make a case for why they need to consider adopting AI, ML and advanced analytics.

(1) The power and the limitations of tacit knowledge – In comes a pillar of advanced analytics that uses machine learning for predictive modeling.

(2) Cognitive challenges in processing multi-dimensional spaces – These algorithms fall in the descriptive analytics pillar, a branch of machine learning that generates business value by exploring and identifying interesting patterns in your hyper-dimensional data

(3) Our weakness in counter-factual thinking – Overcoming this requires embracing causal analytics, a pillar that is most often missed out by the industry ‘ladder of analytics’ frameworks

(4) Our challenges in combinatorial thinking – Combinatorial thinking, which is encompassed in the prescriptive analytics pillar of advanced analytics, can provide answers.

  • In short, advanced analytics, machine learning and AI are arguably the most powerful general-purpose technologies invented since the advent of modern computing. Extracting value from these is an imperative for business and society. It requires a deeper understanding and self-reflection among leaders of human strengths and frailties in contrast to that of modern, software based, machines and algorithms.”

Knowledge at Wharton

The State of Digital Banking Transformation

  • “Unfortunately, as we found in the area of innovation, a surprisingly small number of financial institutions (12%) consider themselves to be digital transformation ‘leaders’, with 34% considering themselves to be ‘fast followers’ and 55% stating they were either ‘mainstream players’ or ‘laggards’.”

  • Jim Marous
  • Co-Publisher
  • Apple’s Latest AI Acquisition Is A Glimpse Into Future Devices

    • “Apple has reportedly paid $200 million to acquire Seattle-based artificial intelligence company, which specialises in edge-based AI.
    • Whilst Siri has fallen behind Amazon’s Alexa and, in particular, Google’s Assistant – Apple might have its sights on an entirely different goal with this acquisition: giving users control of extremely personal data. 
    • If concerns around data privacy become a key – or core – factor in purchasing smart devices, then Apple is likely best placed to satisfy those buyers because of acquisitions like”