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Its impossible to ignore the fact that advances in artificial intelligence (AI) is changing how we do our current jobs. But what has captured even more interest is how the increasing capability of this technology will affect future jobs.

In trying to determine the specific effects on which jobs and which sectors, many studies have been undertaking but its hard to capture this information.

To add further research to this topic theBrookings Institutionissued a reporton Nov. 20, presenting a new method of analyzing this issue.

By employing a novel technique developed by Stanford University Ph.D. candidate Michael Webb, the new report establishes jobexposure levelsby analyzing the overlap between AI-related patents and job descriptions, the report said. In this way, the research homes in on the impacts of AI specifically and does it by studying empirical statistical associations as opposed to expert forecasting.

The technique Webb used was able to quantify the overlap between thetext of AI patents and the text of job descriptions that can identify the kinds of tasks and occupations likely to be affected by particular AI capabilities.

We find that Webbs AI measures depict a very different range of impacts on the workforce than those from robotics and software. Where the robotics and software that dominate the automation field seem to mostly to involve routine or rule-based, tasks and thus lower-or-middle pay roles, AIs distinctive capabilities suggest that high-wage occupations will be some of the most exposed, the report noted.

Using patents are useful here because they provide timely predictions of the commercial relevance of specific technological applications. Occupational descriptions are also useful because they provide detailed insight into economic activities at the scale of the whole economy."

Findings

Based on these conclusions the report says that we have a lot to learn about AI, and that these are extremely early days in our inquiries.Whats coming may not resemble what we have experienced or expect to experience.

Society should get ready for a very different pattern of impact than those that accompaniedthe broad adoption of robotics and software. While the last waves of automation led to increases of inequity and wage polarization, its not clear that AI will have the same effects.

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What Jobs Will Artificial Intelligence Affect? - EHS Today

Discussions, articles, and reports about the AI opportunity across the financial services industry continue to proliferate amid considerable hype around the technology, and for good reason: The aggregate potential cost savings for banks from AI applications is estimated at $447 billion by 2023, with the front and middle office accounting for $416 billion of that total, per Autonomous Next research seen by Business Insider Intelligence.

Most banks (80%) are highly aware of the potential benefits presented by AI, per an OpenText survey of financial services professionals. In fact, many banks are planning to deploy solutions enabled by AI: 75% of respondents at banks with over $100 billion in assets say they're currently implementing AI strategies, compared with 46% at banks with less than $100 billion in assets, per a UBS Evidence Lab report seen by Business Insider Intelligence. Certain AI use cases have already gained prominence across banks' operations, with chatbots in the front office and anti-payments fraud in the middle office the most mature.

The companies mentioned in this report are: Capital One, Citi, HSBC, JPMorgan Chase, Personetics, Quantexa, and U.S. Bank

Here are some of the key takeaways from the report:

In full, the report:

Interested in getting the full report? Here are two ways to access it:

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AI IN BANKING: Artificial intelligence could be a near $450 billion opportunity for banks - here are the strat - Business Insider India

The Seattle Seahawks will now be utilizing Amazon Web Services in bringing artificial intelligence ... [+] and machine learning to their game preparation in hopes to make more efficient on the field decisions. (Photo by Lachlan Cunningham/Getty Images)

Amazon has deep roots in Seattle which are about to get deeper. The company announced it will be expanding its services within the NFL, after partnering with the Seattle Seahawks to provide the team with its cloud and machine learning/artificial intelligence offerings. In the comprehensive partnership, the company will move the vast majority of its infrastructure to AWS and will also provide wide-ranging services, including computing, storage and database, as well as analytics intended to drive game strategy decisions for the team.

Amazons NFL Next Gen Stats offering has been providing player tracking data throughout this season and the Seahawks will utilize their data, that tracks the position of the ball on the field as well as every player 10 times per second, to provide detailed information on each players impact on the field. With this new partnership, the Seahawks will be able to use its own player data internally to develop a custom analytics and proprietary statistics platform combining the Next Gen Stats offering.

In addition to making possible a deeper understanding of team performance through analytics, the team will also use Amazons ML Solutions Lab, the companys program around machine learning and predictive analytics. The Seahawks will implement new capabilities through the software that will provide deeper analytics and insights through video footage. Using the AWS ML services, the team will be able to combine footage from training camp through the postseason, including NFL Coaches Film that gives a birds-eye view of all 22 players on the field, with Amazons Rekognition service, to better identify and understand opponents defensive and offensive strategies.

As our official cloud provider, AWS will enable the Seahawks to become a data-driven organization that uses the power of technology to fuel future championships. We chose AWS because of their relentless focus on innovation, their broad array of machine learning services, and proven to experience in supporting large sports organizations and enterprises around the world at scale, said Chip Suttles, Vice President, Technology, Seattle Seahawks. AWSs breadth and depth of services will help us to extract and pinpoint every possible advantage from the vast amount of data we collect, delivering the actionable insights we need to positively impact our decision-making.

Another service the Seahawks will utilize is Amazons SageMaker platform that will help develop a fully managed service around the building, training and deploying of machine learning models. These models can analyze football statistical information such as quarterback hurries, knockdowns or sacks and are also able to judge how a quarterback handles pressure in the pocket or throws downfield when they are under heavy duress by a defense. These new capabilities will not only be able to provide insights to Seahawks coaches but will also be able to make data-driven recommendations to the team, once the system gets smarter through information being fed into its software.

The Seahawks previously used Microsofts services and its data environments were stored on Microsfts Azure cloud. Even with the Amazon tie-in, the team will continue to utilize Microsofts products and services through the teams partnership, as well as through Microsofts integration with the NFL.

Amazons relationship with the NFL has slowly but steadily expanded over time, with its streaming of Thursday Night Football for the past three seasons over Amazon Prime Video and the addition of games on Amazons Twitch platform. Amazon has aimed to enhance the fan experience through its Next Gen Stats offering and has used Seahawks quarterback Russell Wilson in its advertisements for the product. Amazon CEO Jeff Bezos was also reportedly endorsed by NFL owners to become an owner within the league in the near future.

Partnerships like this will become much more common going forward as data has proven to be the next frontier into the analysis of sports, not only from a game play perspective but also from a business perspective. Understanding how to get an edge on the field or utilizing a potential revenue stream makes these types of offerings very enticing and something each team will likely be engaging in the very near future.

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Seattle Seahawks Select Amazon In Utilizing Artificial Intelligence To Help Make Smarter Decisions On The Field - Forbes

With IoTanium Cloud and the IoTanium Developer Kit, were excited to help developers increase efficiencies and drive actual business value from their applications.

LAS VEGAS (PRWEB) December 02, 2019

Onica, a Premier Consulting Partner in the Amazon Web Services (AWS) Partner Network (APN) and AWS Managed Service Provider (MSP), announced today the launch of IoTanium Cloud, a collection of AWS CloudFormation resources that ease and accelerate the deployment of, and time to insight from Internet of Things (IoT) devices. The cloud native services provider boasts over 500 AWS certifications and 9 AWS Competencies, offering a full spectrum of cloud capabilities.

Onica has differentiated itself in the APN with their ability to accelerate the innovative capabilities of the cloud such as Artificial Intelligence (AI), Machine Learning (ML), Big Data, and IoT. At AWS re:Invent 2018, Onica launched a proprietary IoTanium Developer Kit, which provided physical IoT hardware to help customers quickly prototype connected devices. IoTanium Cloud, the next evolution of Onicas IoTanium suite, is a cloud configuration tool that is designed to codify best practices in building a serverless IoT backend on AWS to easily create serverless ingestion pipelines, device monitoring metrics, and accelerate data flow from IoT devices. Developers can gain preview access to IoTanium Cloud before it launches in AWS Marketplace starting on Monday, December 2nd at Onica.com/IoTaniumCloud.

Onicas IoT, AI, and ML capabilities will be on full display at AWS re:Invent 2019 as Onica has developed a hands-on interactive lab for attendees to work with the IoTanium Developer Kit and IoTanium Cloud. The Onica.create(AI.Magic) experience will guide attendees through the hardware assembly of an IoT-enabled magic wand. Participants will then leverage Amazon SageMaker to train wand gestures. After testing their models, their complete IoT experience can be realized as they use the Magic Wand to navigate a Wizard through a virtual maze using only the gestures trained into their magic wand. All participants who successfully complete the lab within the 30-minute time limit will take home their own IoTanium DevKit. The Onica.create(AI.Magic) lab can be found at AWS re:Invent 2019 in the Quad at ARIA, Booth 508. To learn more, please visit onica.com/reinvent.

The IoTanium Developer Kit along with IoTanium Cloud is designed to provide customers an opportunity to prototype IoT-enabled applications quickly and painlessly, letting them leverage the full suite of AWS analytics services for device data. IoTanium allows customers to spend more time focused on the business value of IoT applications, rather than the undifferentiated heavy lifting of connectivity, charging, provisioning, device management, and security.

With more than 25 billion connected devices in use by 2021, its critical that developers have access to the tools and services that will give their IoT applications a competitive edge, said Tolga Tarhan, Chief Technology Officer at Onica. With IoTanium Cloud and the IoTanium Developer Kit, were excited to help developers increase efficiencies and drive actual business value from their applications.

Earlier this year, Onica announced it had agreed to be acquired by Rackspace. The acquisition brings Onicas innovative professional services and strategic advisory expertise including application and infrastructure modernization, serverless development, containers, and IoT to the Rackspace portfolio, complementing its existing managed cloud services capabilities.

AWS re:Invent 2019 takes place from December 2-6 in Las Vegas. The Onica.create(AI.Magic) lab can be found at AWS re:Invent 2019 in the Quad at ARIA, Booth 508. To learn more about the Onica.create(AI.Magic) lab, please visit onica.com/reinvent.

About Onica

Onica is a cloud consulting and managed services company, helping businesses enable, operate, and innovate on the cloud. From migration strategy to operational excellence, cloud-native development, and immersive transformation, Onica is a full spectrum integrator, helping hundreds of companies realize the value, efficiency, and productivity of the cloud. Learn more at http://www.onica.com.

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Onica Showcases Advanced Internet of Things, Artificial Intelligence, and Machine Learning Capabilities at AWS re:Invent 2019 - PR Web

How businesses can use artificial intelligence (AI) to their advantage, perhaps even in a ... [+] transformative way, without turning the pursuit of AI advantage into a quixotic quest

Frankly, I was hoping an artificial intelligence (AI) algorithm would write this column for me, because who knows more about AI than the mysterious little gremlins that make machine learning possible? That, alas, didnt happen; so Im on my own.

Like most people in business, I dont need any convincing that artificial intelligence (for most companies in many areas of their operations) will become a game-changer.

Still, it remains a fluid, if not amorphous, concept in many respects. What, exactly, can we expect AI to do for us that were not already doingor how will it improve what were doing by doing it better, faster, cheaper, with greater insight or fewer errors?

As an important article (Winning With AI) in the MIT Sloan Management Review put it back in October, AI can be revolutionary, but executives must act strategically. [And] acting strategically means deciding what not to do. Thats not as easy as it sounds.

The problem I have with most discussions of artificial intelligence is that they assume the reader or listener already understands the promises and perils of AI. But based on my conversations with a lot of very intelligent people I dont think thats always the case.

As Amir Husain, founder and CEO of the Austin, Texas-based machine learning company, SparkCognition, explained to Business News Daily last spring, Artificial intelligence is kind of the second coming of software. Its a form of software that makes decisions on its own, thats able to act even in situations not foreseen by the programmers.

AI is so ubiquitous we hardly even think about it. As the Business News Daily article pointed out: Most of us interact with artificial intelligence in some form or another on a daily basis. From the mundane to the breathtaking, artificial intelligence is already disrupting virtually every business process in every industry.

Examples abound: online searches, spam filters, smart personal assistants, such as Alexa, Echo, Google Home and Siri, the programs that protect our information when we buy (or sell) something online, voice to text programs, smart-auto technologies, programs that automatically sound alarms or shut down operating systems when problems are identified, security alarm systems, even those annoying pop-up ads that follow us throughout the day. To one degree or another, theyre all based on or impacted by AI.

In other words, most of us are far more familiar with AIintimately sothan we give ourselves credit for.

The business question is (as the Sloan article correctly put it): How can executives exploit the opportunities, manage the risks, and minimize the difficulties associated with AI? Put another way, how can they use it to their advantage, perhaps even in a transformative way, without turning the pursuit of AI advantage into a quixotic questkeeping in mind that acting strategically involves deciding what not to do as well as pushing ahead and taking chances in some areas?

Some suggestions from the MIT Sloan Management Review article:

First: Dont treat AI initiatives as everyday technology gambits. Theyre more important than that. Run them from the C suite and closely coordinate them with other digital transformation efforts.

Second: Be sure to coordinate AI with the companys overall business strategy. One of the surest ways to come up shortas most AI initiatives do [from 40% to 70%, according to the Sloan article]is to focus AI narrowly on one set of priorities while the company is equally or more concerned with others. While AI can help companies reduce costs, for example, by identifying waste and inefficiencies, growing the business may be a higher priority.

The Hartford, Conn.-based insurance company, Aetna (now a subsidiary of CVS), for example, has been using AI to prevent fraud and uncover overpaymentstypical insurance company concerns. Its also been using AI to design products and increase customers and customer engagement. In one Medicare-related Aetna product, the article notes, designers used AI to customize benefits, leading to 180% growth in new member acquisition. More long term, Aetnas head of analytics, VP Ali Keshavarz, told the authors Aetnas goal is to use AI to become the first place customers go when they are thinking about their health.

Third: This may be obvious to the geeks among us, but perhaps less so to the more technology-challenged: Be sure to align the production of AI with the consumption of AI.

Fourth: Invest in AI talent, data and process change in addition to (and often more so than) AI technology. Recognize that every successful AI undertaking is the product of a great group of people. While some of this talent should be home grown, youll also have to hire from the outside: bring people in to develop and enhance your internal capabilities. Thats a fact of modern business life.

As with everything else in business, all companies are different. Their needs are different. Their available resources (financial, talent, patience) are different. And their goals and expectations should be different.

Its important to take the time to understand how to maximize the promise and minimize the pitfalls of AI. If you do, youre more likely to succeed.

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Maximize The Promise And Minimize The Perils Of Artificial Intelligence (AI) - Forbes