Survey Results Indicate Strong Investment in AI by Banking, Financial Services, and Insurance Sectors

R. Bhattacharyya

Summary Bullets:

  • Organizations in banking, financial services, and insurance are more likely to prioritize current and future investment in AI than overall survey respondents.
  • AI-driven solutions can help the sector verify customer identification and assist with fraud detection as well as anti-money laundering and know-your-customer initiatives.

Banking, financial services, and insurance organizations are eager to leverage AI solutions such as chat bots, deep learning, and machine learning. According to GlobalData’s most recent IT Customer Insight survey, organizations in this sector are more likely to be prioritizing investment in AI technology than their counterparts across other vertical industries. As shown below, 63% of respondents in banking, financial services, and insurance currently prioritize investments in AI, compared to only 54% of companies across all vertical markets. Similarly, 64% of financial services, insurance, and banking organizations have prioritized AI for investment in the next two years, versus only 55% of overall survey respondents. Continue reading “Survey Results Indicate Strong Investment in AI by Banking, Financial Services, and Insurance Sectors”

Google Solidifies Position as a Trailblazer in High-Performance Computing with Purported Achievement of Quantum Supremacy

R. Bhattacharyya

Summary Bullets:

  • A draft research paper leaked the news that Google had achieved quantum supremacy.
  • The accomplishment reinforces Google’s position as a thought leader in the realm of high-performance computing.

Last week, a draft research paper appeared and then was immediately removed, apparently leaking the news that Google had achieved quantum supremacy, meaning it had performed calculations that today’s high-speed computers could not accomplish in a reasonable amount of time. Purportedly, Google’s Sycamore quantum processor, utilizing 53-qubits, performed calculations in 200 seconds that would have taken traditional supercomputers over 10,000 years to complete. The power and future potential of such an achievement are awe-inspiring, even if there are no practical applications today. Continue reading “Google Solidifies Position as a Trailblazer in High-Performance Computing with Purported Achievement of Quantum Supremacy”

Facial Recognition: A Lightning Rod for Societal Concerns in San Francisco

R. Bhattacharyya

Summary Bullets:

  • San Francisco’s ban on the use of facial recognition technology by municipal agencies is noteworthy given the city’s high-tech affiliation and AI’s potential applications in public safety.
  • The safety-enhancing benefits of facial recognition are not resonating; instead, the technology has become a lightning rod for societal concerns related to privacy and inequality.

San Francisco is set to become the first major U.S. city to ban the use the facial recognition technology by municipal agencies. On Tuesday, the San Francisco Board of Supervisors voted in favor of the ‘Stop Secret Surveillance Ordinance,’ outlawing the use of the AI-based technology by city departments. The move is particularly noteworthy because it originates in a part of the U.S. otherwise known for embracing high tech and because it restricts the use of artificial intelligence for public safety, widely considered a top use case for facial recognition technology. However, San Francisco isn’t the only city evaluating restrictions on facial recognition; the issue is top of mind among lawmakers in many regions. Continue reading “Facial Recognition: A Lightning Rod for Societal Concerns in San Francisco”

At NASSCOM 2019, Executives Shared Best Practices for Addressing New Opportunities

R. Bhattacharyya

Summary Bullets:

  • IT services players must change their ways to be more effective partners to their clients.
  • At the NASSCOM Technology & Leadership Forum (NTLF) 2019, held in Mumbai, India in late February, Indian and international industry leaders shared best practices for managing AI’s impact on staff, reskilling teams, developing deeper customer relationships, and cultivating a culture that embraces change.

It’s not only about finding the right technology, curating large amounts of data, or identifying the best use cases. Successful AI depends on changing business processes. We often focus on the change that needs to take place at the enterprise, but what about the changes that IT services providers need to make in order to better serve their customers? IT services players must also change their ways to be more effective partners to their clients. Continue reading “At NASSCOM 2019, Executives Shared Best Practices for Addressing New Opportunities”

Operationalizing AI for Broader Adoption

R. Bhattacharyya

Summary Bullets:

  • A shortage of skilled AI professionals is one of the biggest hurdles to broader AI adoption by enterprises.
  • Salesforce is embedding its solutions with Einstein-powered AI to make the technology more accessible to non-data scientists.

Businesses need artificial intelligence (AI) solutions that can be easily adopted and manipulated by line-of-business users. Although many organizations are eager to adopt AI, they are often held back by a lack of access to data scientists that can curate data and develop AI models that address their specific needs. This skills shortage is one of the top hurdles facing organizations when it comes to operationalizing AI. And it is precisely this challenge that Salesforce is looking to address by embedding its solutions with Einstein-powered AI. Continue reading “Operationalizing AI for Broader Adoption”