Embracing the rapid pace of AI

“In a recent survey, ‘2021 Thriving in an AI World,’ KPMG found that across every industry—manufacturing to technology to retail—the adoption of artificial intelligence (AI) is increasing year over year. Part of the reason is digital transformation is moving faster, which helps companies start to move exponentially faster. But, as Cliff Justice, US leader for enterprise innovation at KPMG posits, ‘Covid-19 has accelerated the pace of digital in many ways, across many types of technologies.’ Justice continues, ‘This is where we are starting to experience such a rapid pace of exponential change that it’s very difficult for most people to understand the progress.’ But understand it they must because ‘artificial intelligence is evolving at a very rapid pace.’”


KPMG: AI adoption is accelerating in the pandemic

  • “Survey respondents all cited the pandemic as a factor that drove increased adoption of AI in the last year, though the degree varied by sector from industrial manufacturing (72%) to technology (57%), retail (53%), government (44%), financial services (42%), and health care and life sciences (37%).
  • Most organizations are also still wrestling with AI explainability. A set of machine learning algorithms will generate slightly different results on different days as they become more familiar with a set of data.”


Artificial Intelligence (AI) Stats News: AI Is Actively Watching You In 75 Countries

  • At least 75 out of 176 countries globally are actively using AI technologies for surveillance purposes
  • less than 1% of organizations had language stating which types of third parties could access user data; only 2% of organizations had explicit language about data retention; only 32% of organizations had “readable” statements based on OTA standards
  • companies investing in AI report achieving on average 15% productivity improvements for the projects they are undertaking
  • U.S. AI and machine learning startups raised $6.62 billion so far in 2019, and international startups raised $6.79 in the same period. The global total for all of 2018 was $19.5 billion


Image credit: Getty

KPMG and Recommender Labs AI

“KPMG India has announced the aqui-hire of Mumbai-based AI-led decision-science services company Recommender Labs. With this, KPMG is poised to build its own Centre of Excellence (CoE) specialising in decision-science and AI-driven solutions. It will build unique assets, enable quick go-to-market, and build the ability to respond with AI-led offerings, by combining its capabilities with that of Recommender Labs.

Recommender Labs’ product offerings include:

  • Universal Recommender Engine, that helps identify and recommend best-fit products to customers in a retail scenario.
  • Chatbot Authoring Framework, a natural language processing chatbot offering decision-tree based conversations and frequenty-asked-questions bank.
  • Credit Risk Engine, helping identify potential defaulters from customers that have applied for lending products specifically catering to SMEs.
  • Recruitment Applications, helping augmented profiling through interactive mechanisms and offers insights on best-fit candidates.
  • Gamification Template, which offers mechanisms and engaging UX elements to capture and engage customers.”


Recommender Labs –



LinkedIn: http://linkedin.com/in/sanjaya-sharma-b3854b