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The ongoing pandemic has undoubtedly impacted business models but it didnt wane the impact AI has on our lives and businesses

In today's digitally driven world, many organisations use AI-powered chatbots in business communication, primarily for customer support and sales

The AI-powered chips are predicted to reach a revenue of $91,185 Mn in 2025

Artificial Intelligence, once a buzzword in the digital world, has become a part of our everyday life. From Google Assistant, Siri, Alexa to Uber and Ola, several AI-enabled services are available today that make our lives easier. The ongoing pandemic has undoubtedly impacted business models but it didnt wane the impact AI has on our lives and businesses. On the contrary, it has become evident that Artificial Intelligence, with its self-teaching and learning algorithms, will play an essential role in transforming businesses in 2021.

Companies have swiftly started leveraging the potential of AI. Companies like Amazon, Microsoft, and Google have grown immensely due to the incorporation of AI for forecasting, adapting to changing market conditions and generating profit. Several companies are already reaping the benefits of their early investment in Artificial Intelligence. Many have started incorporating AI to utilise the huge amount of data generated each day. But how is AI bringing revolutionary changes across industries? Lets take a look.

In todays digitally driven world, many organisations use AI-powered chatbots in business communication, primarily for customer support and sales. Chatbots effectively increase customer engagements, help collect data, and drive business revenues; they effectively bring down operational costs as well. AI-powered chatbots decrease the need for human intervention and enable businesses to engage and interact with customers during non-working hours. This also brings down the need for floor space and conventional customer support equipment. According to a report by Juniper Research, ecommerce transactions via chatbots are predicted to grow up to $112 Bn by 2023.

AI-powered chips will enable applications that run on AI algorithms like object detection, computer vision, facial recognition, and Natural Language Processing (NLP) to perform much faster. These chips boost the performance of applications used in gaming, healthcare, banking & finance, and manufacturing industries.

Qualcomm recently launched its new AI-enabled Snapdragon 732G to enhance the high-tier mobile gaming experience. Another popular example of the implementation of AI in an industrial and commercial environment is the AI-powered BMW factory in Germany. The automobile factory uses AI-based software to check auto parts and perform a complete inspection in milliseconds. The AI-powered chips are predicted to reach a revenue of $91,185 Mn in 2025.

Data is the new currency in todays digitally driven world. The generation of data is growing by leaps and bounds with each passing day. For startups to stay ahead in the competitive business world, it has become imperative to adopt advanced analytics and AI for creating dynamic business models. AI-based systems and solutions will help start-ups with data mining, analysis of business data, and implementing predictive analytics to determine strategic marketing based on customer insights.

With data becoming more accessible, there has been a massive rise in cyberattacks. Companies are investing more in improving their organisations cybersecurity infrastructure. AI, with its advanced predictive algorithms, will play a crucial role in facilitating cybersecurity in organisations. By incorporating AI in cybersecurity, companies will be able to reduce the response time to threats as well as the expense of preventing breaches. AI will also help in preventing cybercrimes by enhancing the organisations cybersecurity measures.

One of the most common examples of AI-powered applications in our daily life is voice-based searches. AI-powered voice-based applications like Apples Siri, Google Assistant, and Amazons Alexa have set the benchmark high on how people will look for anything online. In the future, people will use voice commands more often rather than type it. According to Statista, globally, around 8 Bn digital voice assistants will be in use by 2023.

Innovations in Artificial Intelligence, with its huge potential, is transforming businesses by boosting work efficiency, enhancing productivity, and elevating an organisations profitability, and will continue to do so in the future. AI-powered applications and services provide solutions for every industry, starting from IT, retail, banking, and healthcare to eCommerce.

Read the rest here:
Five Ways How Artificial Intelligence Will Transform Businesses in 2021 - Inc42 Media

CrushBank Insight

Insight Debuts at IT Nation Connect

At the event, CrushBank experts will be available to discuss Insight,which ingests entire support data sets, classifies them precisely andgenerates objective metrics for meaningful classification

SYOSSET, N.Y., Nov. 05, 2020 (GLOBE NEWSWIRE) -- The creators of CrushBank, an artificial intelligence (AI) solution that leverages the power of IBM Watson and Natural Language Processing to provide answers used in IT support, have released a revolutionary new offering, CrushBank Insight. After ingesting a clients entire interactive data set (tickets, time entries and more), Insight classifies each datapoint by key concept (root cause) and by customer and engineering sentiment (client satisfaction). The resulting dataset supports creation of objective metrics for customer success and trends as well as classification by true root cause rather than by initial client or triage best guess.

Insights debut was timed to align with IT Nation Connect, slated for November 10-12, 2020. David Tan, CTO of CrushBank, is speaking at the event, where he will explore the future of AI and the growing imperative for structured access to unstructured data. He and other CrushBank experts will also be available via the firms virtual booth to discuss the development of CrushBank and Insight, as well as how the firm and its AI-powered solutions help IT firms dramatically boost the success metrics and output of their support teams.

IT experts have long envisioned a perfect world where every MSP could gather historical data documents, interactions, names, faces and more into a single resource and use technology to analyze that pool of data, finding and making connections to create a structured web of knowledge, said Tan. This world is here, now, and CrushBank Insight is a key piece of this solution. With any other tool, businesses would remain trapped in the endless cycle of guess-resolve-repair, with their IT departments engaged in perennial firefighting. With CrushBank Insight, IT teams gain meaningful historical insights, backed by actual data, that replace conjecture with educated decision making.

Insight can analyze customer sentiment by any filtered resource (engineer, customer, technology, region, etc.) and, in a matter of seconds, create functional reports to drive internal decision making. It informs and streamlines customer road maps that would otherwise take hours to compose and would still be only as good as the data classification produced by a triage resource.

Through extensive research and interviews, CrushBank found that most IT engineers spend 50% of their time looking for answers to common support questions including system specifications and historical ticketing information. CrushBank also determined that 80% of those answers cant be found even when they are in the database because it hasnt been properly indexed.

Our guiding principal has always been that superior business intelligence begins with great data, and the information that makes a company uniquely valuable to a customer is right there within these datasets, said Tan. With Insight, we now can provide rich, solution-driven understanding based on the greatest possible pool of input, enabling companies to unlock their data and reap maximum value for themselves and the customer.

About CrushBankBorn from the frustration over inefficiencies in operating a managed IT service business, CrushBank is the first IT Help-Desk application built on Watson, the breakthrough cognitive technology developed by IBM. Founded by two veteran MSP owners with more than 25 years of experience, CrushBank uses cognition, the process of acquiring knowledge, to think, learn and inform decisions in the same way engineers and support teams do. CrushBank combines best-practice documentation with a firms proprietary content and historical ticket information to provide invaluable insight. The system ingests large volumes of unstructured data, reads and understands it, and uses machine learning to find the right answers to questions instantly. Simply put, CrushBank streamlines help-desk operations resulting in fewer escalations to Level 2 and above. Your help-desk engineers see an increase in productivity and their end users experience increased satisfaction with more intimate first-call resolutions. For more information, visithttp://www.crushbank.com.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d7e1c9ef-5b14-4718-a179-8a64a5f7e14d

Read more from the original source:
CrushBank Debuts Insight Just in Time for IT Nation Connect; Exclusive Artificial Intelligence Delivers Support Metrics by Actual Root Cause -...

NOAAs Satellite and Information Service (NESDIS) has signed an agreement with Google to explore the benefits of Artificial Intelligence (AI) and Machine Learning (ML) for enhancing NOAAs use of satellite and environmental data.

Under this three-year Other Transaction Authority (OTA) agreement, NESDIS and Google will pilot specific AI- and ML-related projects to amplify NOAAs environmental monitoring, weather forecasting, climate research, and technical innovation.

Strengthening NOAAs data processing through the use of big data, artificial intelligence, machine learning, and other advanced analytical approaches is critical for maintaining and enhancing the performance of our systems in support of public safety and the economy, said Neil Jacobs, Ph.D., acting NOAA administrator. I am excited to utilize new authorities granted to NOAA to pursue cutting-edge technologies that will enhance our mission and better protect lives and property.

Research will initially focus on developing small-scale AI/ML systems. With the results yielded from those efforts, NOAA and Google Cloud will then focus on executing full-scale prototypes that NOAA could ultimately operationalize across its organization. If successful, this has the potential to be a significant leap in NOAAs ability to leverage the enormous volume and diversity of environmental data in order to enhance prediction, including for extreme weather events such as hurricanes and tornadoes.

By bringing together NOAA and Googles expertise and talent, we can both resource and jointly explore AI/ML methods to achieve a more effective use of satellite and other environmental data, said Mike Daniels, vice president, Global Public Sector, Google Cloud. Our goal is to increase scientific impact, and improve the efficiency and effectiveness of environmental and satellite data by leveraging Google Clouds infrastructure and AI/ML know-how. All this will help improve weather forecasting, research and unlock innovation.

Through this agreement, NOAA and Google will work together on a number of projects, offering hands-on AI training opportunities to the NOAA workforce. NOAAs AI strategy aims to infuse new technologies and approaches to increase efficiency and skills through partnerships, training, and AI-related research and development.

NOAA developed an AI/ML strategy and a Data Strategy to dramatically accelerate the use of data across the agency and with other key partners, maximize openness and transparency, deliver on mission, and steward resources while protecting quality, integrity, security, privacy, and confidentiality.

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Originally posted here:
Artificial Intelligence Agreement Will Enhance Environmental Monitoring and Weather Prediction - HSToday

In 2018 the United Nations Secretary-General identified responsible research and innovation (RRI) in science and technology as an approach for academia, the private sector and governments to work on the mitigation of risks that are posed by new technologies.

This report explores how RRI could help to address the humanitarian and strategic risks that may result from the development, diffusion and military use of artificial intelligence (AI) and thereby achieve arms control objectives on the military use of AI.

The report makes recommendations on how the arms control community could build on existing responsible AI initiatives and export control and compliance systems to engage with academia and the private sector in the governance of risks to international peace and security posed by the military use of AI.

Contents

1. Introduction

2. Addressing the risks posed by the military use of AI

3. Responsible research and innovation as a means to govern the development, diffusion and use of AI technology

4. Building on existing efforts to promote responsible research and innovation in AI

5. Key findings and recommendations

Luke Richards is a Research Assistant working on emerging military and security technologies.

Kolja Brockmann is a Researcher in the SIPRI Dual-Use and Arms Trade Control programme.

Dr Vincent Boulanin is a Senior Researcher on emerging military and security technologies.

Excerpt from:
Responsible Artificial Intelligence Research and Innovation for International Peace and Security - World - ReliefWeb

November 02, 2020 -Eighty-three percent of healthcare organizations have implemented an artificial intelligence strategy, while another 15 percent are planning to develop one, according to a recent survey conducted by Optum.

Fifty-nine percent of leaders said they believe AI will deliver significant cost savings within three years, a 90 percent increase since 2018.

The results of the survey show that the healthcare industrys increase in AI adoption is driven by executives seeing more tangible benefits from the technology including improved business performance and patient outcomes.

These insights demonstrate that as those in late-stage AI implementation grow more familiar with AI as well as the benefits it yields they in turn become more comfortable and confident, generating momentum in which AI grows more beneficial more quickly, researchers stated.

With AI, the more quickly organizations in early or middle stages of AI deployment move forward, the sooner they will overcome uncertainty and unlock the rewards of this powerful business tool.

READ MORE: Expanding Access to Mental Healthcare with Artificial Intelligence

The survey also revealed that the current healthcare crisis has catalyzed the use of AI in medical settings. More than half (56 percent) said that their response to COVID-19 has caused them to accelerate or expand their AI implementation strategies.

Additionally, of those who reported being in the late stages of AI development, 51 percent believe theyll achieve a return on AI investments faster because of their pandemic response.

The need to have a strategy in place may have come into sharp focus during the COVID-19 pandemic, when organizations scrambled to use every tool at their disposal to overcome the unprecedented strain being placed on the industry, the team said.

AIs ability to automate workflows and help simplify the communication and analysis of complex data can help alleviate that burden.

Researchers also noted that organizations who take too long to plan or deploy AI strategies are at risk of falling behind their tech-savvy counterparts: Fifty-five percent of companies with $1 billion or more in revenue have an AI strategy in place, compared to just 37 percent of their lower-revenue peers.

READ MORE: Applying Artificial Intelligence to Chronic Disease Management

In addition to cost savings, healthcare executives are looking forward to improve patients health. Fifty-five percent of leaders rank improving health outcomes as the greatest impact of AI investments, while another 55 percent rank improving patient experiences as the top impact.

Executives emphasis on the consumer-focused benefits serves as a reminders that health care is first and foremost an industry focused on the well-being of those it serves and that AI has implications for real people most in need, researchers said.

To realize these benefits, healthcare leaders are planning to apply AI to a range of tasks. Forty percent plan to monitor data from Internet of Things (IoT) devices such as wearable technologies, while 37 percent want to accelerate research for new therapeutic or clinical discoveries.

Another 37 percent want to use AI tools to assign codes for accurate diagnoses, facilities, and procedures.

These applications are all well-suited to advanced analytics technologies, the team noted.

READ MORE: Enhancing Cervical Cancer Screenings with Artificial Intelligence

Internet-connected remote patient monitoring devices enable more complete virtual health offerings, and AI can identify signals and trends within those data streams; AI can help prioritize potential investigative targets for treatments or vaccines; and automating business processes can enable organizations to achieve more even when resources are under duress, researchers said.

While the industry appears to be increasingly adopting and deploying AI technology, several barriers to use and implementation still exist. Seventy-three percent of respondents said they had concerns about AI because of a lack of transparency in how the data is used or how the technology makes decisions. Just under 70 percent said the role of humans in the decision-making process was a top concern.

These findings highlight ongoing concerns that AI will take over the jobs of human clinicians, or come to conclusions that may not be based in evidence or provider expertise.

As executives prepare to infuse AI into their operations, they should ask system designers to include an explainable interface whenever possible to help recipients of AI-driven predictions better understand whats influencing those recommendations, researchers said.

Likewise, while routine processes can be targeted for automation, complex decisions should always include a human perspective within the workflow. That means the AI is augmenting human capabilities and helping individuals work at the top of their license. Peoples judgment remains the deciding factor and the human touch of health care is maintained.

Many leaders have also recognized the importance of integrating social determinants of health data into AI algorithms. Fifty-nine percent have already incorporated non-clinical information into their AI plans to improve predictions about future health needs, while another 36 percent plan to do so.

The results of the survey demonstrate the steadily increasing prevalence of AI in healthcare, as well as the significant benefits the technology can bring.

As AI grows more and more popular across all industries, healthcare executives will see increasing opportunities to capitalize on the insights it offers, setting the stage to radically alter their industry from the bottom line all the way to patient experience, the researchers concluded.

The results of this survey capture not only how AI is becoming increasingly the norm at a more rapid pace, but how its benefits as well as the ways in which the industry can overcome pitfalls will be more widespread as familiarity with AI grows.

Read more:
Over 80% of Health Execs Have Artificial Intelligence Plans in Place - HealthITAnalytics.com