In the past, we’ve explored the need for insurance companies to adapt to millennial buying preferences through customized policy offerings and a more personalized customer experience. AI could help to these ends, but how could insurance carriers reach this point of AI transformation?
We researched the military and defense space to discover how and where AI is utilized today by the world’s militaries and intelligence organizations as well as the capabilities artificial intelligence could bring to the sector shortly.
It is clear the United States government has recently taken a strong stance in attempts to proliferate artificial intelligence technology innovations for the United States Department of Defense. There are those who believe that the US, Russia, and China have entered into a modern day Space Race-style competition to develop and harness artificial intelligence technologies.
It is clear the US military has taken an interest in exploring the capabilities of autonomous vehicles for the battlefield. Michael Griffin, Under Secretary of Defense for Research and Engineering for the US Department of Defense, reported to lawmakers in the United States Congress that 52% of casualties in combat zones have been attributed to military personnel delivering food, fuel, and other logistics.
In this article, we’ll take a look at several military drones and UAVs with AI capabilities. There are a variety of use cases for AI when it comes to drone technology. The military seems to commonly apply AI for allowing its drones to fly on their own, which requires machine vision.
As we've done with our article on AI at the top 5 US defense contractors, this report discusses the artificial intelligence initiatives at the top four military defense contractors of Israel by revenue. Although Israel is a nation just 70 years old, it possesses one of the most modern militaries in the world.
Due to the popularity of our recent report on AI at the top 5 US defense contractors, we decided to broaden our scope of AI in the world's militaries. This report attempts to illuminate the current artificial intelligence projects at Europe’s largest private defense contractors.
wikiMany of the pivotal technologies utilized by the public today have their roots in military projects. The internet’s first successful message transfer was due to a U.S. Department of Defense-awarded contract in 1969 for the development of the “ARPANET project.” Global Positioning System (GPS) technology utilized in smartphones today was put in place and created in the 1970s for accurate military positioning, coordination, and tracking.
Lockheed Martin offers numerous artificial intelligence solutions to the US military. The company claims to help military operators effectively complete both routine and critical missions with less risk of endangering the lives of military operators. In 2017, Lockheed Martin reported $51 billion in revenue, $35.2 billion reported from contracts with the US Government. This makes Lockheed Martin the largest contractor for the US military and the largest defense contractor in the world.
Boeing offers a number of autonomous vehicles to the military, which it claims can help military operators effectively complete both routine and critical missions with less risk of endangering the lives of military operators. In 2017, Boeing Defense, the predominantly non-commercial division of Boeing that focuses on government contracts, reported 29.5 Billion dollars in revenue. This makes it the second largest defense contractor for the US military and the world. Boeing, established in 1916, is a publicly traded company that employs over 120,000 people.
This report attempts to highlight the wide array of real-world use cases of machine vision in the military. Several militaries claim to leverage machine learning, working with contractors and companies in some cases to deliver AI solutions. We found that these solutions help highlight the wide breadth of current and near-term military applications of machine vision. The companies and organizations discussed in this report help various militaries with at least one of the following:
Moore Stephens estimated the size of the marketing technology or martech industry around $24 billion in 2017. It follows that AI would find its way into the martech world. Numerous companies claiming to assist organizations in their marketing; we wrote a report on marketing and AI detailing this connection.
KPMG estimated the size of the automotive insurance is expected to shrink by 70% due to the rise in demand for autonomous cars and the shift in liability then being placed on the car manufacturer. With the rise of AI in most sectors, it follows that AI would find its way into the automotive insurance world. AI may allow car insurance companies to keep up with an evolving consumer base that is looking for faster service, faster payouts, and policy prices tailored to them.
According to Deloitte and the Economist, global annual health spending should reach $8.734 trillion dollars by 2020, and, as mentioned in our previous report on AI for Healthcare in Asia, InkWood Research estimated the size of the artificial intelligence market in the healthcare industry at around $1.21 billion in 2016. As of now, numerous AI vendors claim to help healthcare professionals diagnose patients using machine vision. Other AI vendors claim to offer solutions for increasing adherence to drug therapy programs.
NASDAQ estimates more than $5 trillion is traded every day in what it describes as “the most actively traded market in the word:” foreign exchange, or forex. Business leaders might expect AI to make its way into the forex world the way it has into finance and banking broadly. Most companies claim to assist foreign exchange traders by predicting when to trade or hold onto currencies. As it turns out, however, Most of the AI vendors in the forex space are in fact only claiming to use AI. There is strong evidence to suggest that their claims are illegitimate.
It should come as no surprise that AI has found its way into radiology in a similar fashion to most other medical fields. Many AI vendors selling into the radiology field are just beginning to gain regulatory approval. We researched the use of AI in radiology to better understand where AI comes into play in the industry and to answer the following questions: