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Event: A guest appearance at National Defense University

Date: October 24, 2018

Team Member: Daniel Faggella, Emerj CEO and Founder
What Happened
Through a variety of presentations for business and government personnel, I was put in touch with some of the leadership at the Defense Innovation Unit at the Department of Defense, which is essentially an arm of the Defense Advanced Research Projects Agency (DARPA). In talking to those folks, I was introduced to a professor at the National Defense University in Washington DC who was very interested in how to bake artificial intelligence use cases and understanding into their curriculum in order to help train military leaders on how to fruitfully leverage these technologies.

The International Financial Reporting Standards (IFRS) and Financial Accounting Standards Board (FASB) have introduced new financial and accounting standards which require financial institutions to compile all their lease agreements and accounting reports electronically. These new standards may require significant changes to a financial institution's lease and contract management processes.

Episode Summary: In this episode of the AI in Industry podcast, we interview Rajat Mishra, VP of Customer Experience at Cisco, about the best practices for adopting AI in the enterprise and how business leaders should think about the man-machine balance at their companies.

Broadly, artificial intelligence involves a machine doing something that only a human would be able to do. That said, computer scientists disagree on if certain computing capabilities from several years ago still constitute AI. Nowadays, many of these capabilities might just be called software.

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.

When searching Indeed at the time of writing this article, over 770 remote machine learning job listings were posted. A search on LinkedIn yielded over 1,200 results.

When it comes to planning an AI initiative, a business will need to determine the method by which to acquire the data necessary to meet their objectives. Data is essential when it comes to succeeding with AI. An effective AI strategy is built on top of data that is specific to the business problem a company is trying to solve.

InkWood Research estimated the size of the artificial intelligence market in the healthcare industry at around $1.21 billion in 2016. We surveyed more than 50 executives from healthcare companies previously and laid out the state of AI applications in the healthcare space. It seems AI-based healthcare innovations have made their way into Asia, led by developments in China, India, Japan, and South Korea. Numerous companies claim to assist healthcare professionals in Asia with aspects of their roles, including assisting in diagnostics, remote caregiving, and improving a patient's ability to manage their health using data from wearable devices.

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.

Episode Summary: In this episode of the AI in Industry podcast, we interview Nikhil Malhotra, Creator and Head of Maker's Lab at Tech Mahindra, about how artificial intelligence changed the nature of IT services and business services in general. Malhotra talks about what businesses should consider to make themselves relevant for the future. In addition, he discusses the philosophy shift that has to happen for people to be appreciative of the process of problem-solving, and to see profit and growth from AI. We hope business leaders in the IT services industry will take from this interview the low-hanging fruit applications in the IT services industry.