10 surprising things that rely on artificial intelligence

“Emails – Google says less than 0.1% of spam makes it past its AI-powered filters.

Banking – More than two-thirds of banks in a recent survey by SAS Institute say they use AI chatbots and almost 63% said they used AI for fraud detection.

Ride sharing and travel apps – Ride sharing apps use AI to resolve the conflicting needs of drivers and passengers.

Manufacturing – Experts say it’s cutting the time machines are offline by 75% and repair costs by almost a third.”

https://www.weforum.org/agenda/2021/05/everyday-services-rely-on-artificial-intelligence-ai/

How Artificial Intelligence’s (AI) Effect On Retail Sales Is Increasing

  • “It’s estimated that Amazon has sold about 25 million Echo devices up to now
  • Marketers will have to target the devices instead of consumers: they need to be tech-savvy to understand and influence AI algorithms in order for the device to purchase it.
  • OLB Group to Provide AI-Based Analytics to Small- and Medium-Sized Merchants – Company is implementing AI and ML analytics through its ShopFast dashboard, enabling merchants to assess and respond to customer behavior and propensities”

https://www.prnewswire.com/news-releases/how-artificial-intelligences-ai-effect-on-retail-sales-is-increasing-301277651.html

AI in banking: Where it works and where it doesn’t

  • “‘A lot of organizations embrace AI and start to work on it,’ he said. ‘But they have been in continuous experimentation mode, so nothing has really gone into production to drive through business value in terms of new revenue growth, efficiencies or better recommendations. So there’s a lot of money going into it, but no return coming up.’
  • ‘Not just in banking, but in all industries there is going to be some amount of disruption in terms of customer expectation management, financial institutions included,’ Kagoo said. ‘If they do not continue to innovate and drive more hyperpersonalized services and meet their customer where they want to be met, they will lose out right in terms of market share, because the consumer is continuing to get used to, or be introduce to, these kinds of digital models and personalized service.’”

https://www.americanbanker.com/news/ai-in-banking-where-it-works-and-where-it-doesnt

How MIT OpenCourseWare became an educational resource to millions around the world

“That committee’s recommendation was to launch OpenCourseWare, a website offering all of MIT’s course materials, available for free to anyone. Within one year, OCW had published a pilot website with 50 courses and attracted worldwide acclaim. Today, OCW offers materials from over 2,570 courses spanning the MIT graduate and undergraduate curriculum, from 1,735 MIT faculty and lecturers from 33 academic units across all five schools, including syllabi, lecture notes, problem sets, assignments, and audiovisual content including recorded lectures. To date, OCW has been a resource for over 210 million unique users, with over 70 percent of users in 2020 coming from outside the United States.”

https://news.mit.edu/2021/mit-courseware-educational-resource-to-millions-0406

How to build a machine learning model in 7 steps

“Step 1. Understand the business problem (and define success)

Step 2. Understand and identify data

Step 3. Collect and prepare data

Step 4. Determine the model’s features and train it

Step 5. Evaluate the model’s performance and establish benchmarks

Step 6. Put the model in operation and make sure it works well

Step 7. Iterate and adjust the model”

https://www.google.com/amp/s/searchenterpriseai.techtarget.com/feature/How-to-build-a-machine-learning-model-in-7-steps%3famp=1