From experimentation to implementation: How AI is proving its worth in financial services

For financial institutions, recovering from the pandemic will put an end to tentative experiments with artificial intelligence (AI) and machine learning (ML), and demand their large-scale adoption. The crisis has required financial organisations to respond to customer needs around the clock. Many are therefore transforming with ever-increasing pace, but they must ensure that their core critical operations continue to run smoothly. This has sparked an interest in AI and ML solutions, which...

15 December 2020 | Adoption

EU human rights agency issues report on AI ethical considerations

The European Union’s Fundamental Rights Agency (FRA) has issued a report on AI which delves into the ethical considerations which must be made about the technology.

FRA’s report is titled Getting The Future Right and opens with some of the ways AI is already making lives better—such as helping with cancer diagnosis, and even predicting where burglaries are likely to take place.

“The possibilities seem endless,” writes Michael O’Flaherty, Director of the FRA,...

14 December 2020 | Adoption

Algorithmia: AI budgets are increasing but deployment challenges remain

A new report from Algorithmia has found that enterprise budgets for AI are rapidly increasing but significant deployment challenges remain.

Algorithmia’s 2021 Enterprise Trends in Machine Learning report features the views of 403 business leaders involved with machine learning initiatives.

Diego Oppenheimer, CEO of Algorithmia, says:

“COVID-19 has caused rapid change which has challenged our assumptions in many areas. In this rapidly changing environment,...

10 December 2020 | Adoption

From fantasy to reality: Misunderstanding the impact of AI

The prominence of artificial intelligence (AI) has significantly grown in pop culture and science fiction over the years. It has speculated on how AI can change people’s lives, the places we live and our day-to-day activities. However, despite the increase of AI in popular films such as I, Robot, Star Trek and WALL-E, it’s continued depiction and futuristic tendencies throughout the years have altered individual perceptions about the true meaning of AI and how it is already playing a...

9 December 2020 | Adoption

CDEI launches a ‘roadmap’ for tackling algorithmic bias

A review from the Centre for Data Ethics and Innovation (CDEI) has led to the creation of a “roadmap” for tackling algorithmic bias.

The analysis was commissioned by the UK government in October 2018 and will receive a formal response.

Algorithms bring substantial benefits to businesses and individuals able to use them effectively. However, increasing evidence suggests biases are – often unconsciously – making their way into algorithms and creating an uneven...

27 November 2020 | Adoption

AI is helping mobile operators to cope with pandemic demand

Artificial intelligence is helping telecoms operators to boost the RAN capacity of their 4G networks by 15 percent.

More people than ever are relying on telecoms networks to work, play, and stay connected during the pandemic. Operators are doing all they can to ensure their existing networks have enough capacity to cope with demand.

Gorkem Yigit, Principal Analyst at Analysys Mason, said:

“Video streaming continues to experience high year on year growth and...

30 September 2020 | Adoption

Google returns to using human YouTube moderators after AI errors

Google is returning to using humans for YouTube moderation after repeated errors with its AI system.

Moderating a large network like YouTube is no easy task. Aside from the sheer volume of content uploaded every day, moderators are subjected to the worst of humanity and often end up requiring therapy. They're the unsung heroes.

AI has been hailed as helping to deal with some of the aforementioned issues. Either by automating the moderation process entirely or by offering...

21 September 2020 | Adoption

Nvidia and ARM will open ‘world-class’ AI centre in Cambridge

Nvidia is already putting its $40 billion ARM acquisition to good use by opening a “world-class” AI centre in Cambridge.

British chip designer ARM’s technology is at the heart of most mobile devices. Meanwhile, Nvidia’s GPUs are increasingly being used for AI computation in servers, desktops, and even things like self-driving vehicles.

However, Nvidia was most interested in ARM’s presence in edge devices—which it estimates to be in the region of 180...

14 September 2020 | Adoption

Global spending on AI ‘expected to double in four years’, says IDC

Worldwide spending on artificial intelligence (AI) is forecast to double over the coming for years to hit $110 billion by 2024, according to new data from IDC.

The figure, which comes from the analyst firm's latest Worldwide Artificial Intelligence Spending Guide, calculates a CAGR of 20.1% as adopting AI becomes a 'must' in the enterprise.

In particular, companies will utilise AI to deliver a better customer experience, as well as help employees to become better at...

27 August 2020 | Adoption

The White House is set to boost AI funding by 30 percent

A budget proposal from the White House would boost funding for AI by around 30 percent as the US aims to retain its technological supremacy.

Countries around the world are vastly increasing their budgets for AI, and with good reason. Just look at Gartner’s Hype Cycle released yesterday to see how important the technology is expected to be over the next decade.

Russian president Vladimir Putin famously said back in 2017 that the nation which leads in AI “will become...

19 August 2020 | Adoption