AI Articles and Analysis about Business intelligence and analytics

According to the Automated Imaging Association (AIA), machine vision is a combination of hardware like cameras, image sensors, and image processing software that can help automate applications like inspection and analysis by allowing machines (such as robots) to ‘see’ their surroundings.  

Stockbrokerage might be viewed by investors as a traditionally human-based service allowing them to buy and sell equities. When looking at the shift in how stock brokerage is different today compared to the early 2000s, the largest change seems to be in software-based automation. Put simply, a lot of what was being done by humans (such as executing trades, giving advice to investors, discretionary trading) can now be done through software.

Telehealth (or Telemedicine) is a growing sector of the healthcare industry which has steadily gained traction and formed a profitable sector, according to Transparency Market Research. The market research firm projects that total US revenue will hit $19.5 billion in 2025 up from $6 billion in 2016.

A collaborative report by Moore Stephens and WARC estimated the size of the martech industry around $34.3 billion dollars in 2018. It follows that AI would find its way into the marketing world. Marketing experts agree that AI will have a significant impact on the marketing world in the coming years. As of now, numerous companies claim to assist marketers in aspects of their roles from garnering insights from dashboards to automating spend on ad networks.

In recent years, artificial intelligence has enabled pricing solutions to track buying trends and determine more competitive product prices. While static pricing keeps prices absolute, dynamic pricing adjusts prices to offer customers different prices based on external factors and their individual buying habits.

In a 2017 symposium in Harvard’s Institute for Applied Computational Science, R. Martin Chavez, Deputy Chief Financial Officer of  Goldman Sachs explains that the company’s US cash equities trading division used to employ over 600 human traders back in 2000. Today that number is down to just two human traders, with the rest of the jobs being taken over by automated trading platforms that are managed by around 200 computer engineers.

Today, customers interact with banks and financial institutions across several different channels which has lead to an explosion in customer data being collected by these organizations. This data can be effectively leveraged using AI to gain insights on current and future customer behavior.

Health insurance is a critical component of the healthcare industry with private health insurance expenditures alone estimated at $1.1 billion in 2016, according to the latest data available from the Centers for Medicare and Medicaid Services. This figure represents 34 percent of the 2016 National Health Expenditure at $3.3 trillion.