Latest AI Articles:

Rather than coming up with completely new processes or products that involve deep learning, companies say they are using this AI technology to expand on functions or tasks that already existed at their organization, according to a new report published by O’Reilly.

Virtual assistants operating in response to voice or text interactions have steadily gained traction and formed a profitable sector, according to Research and Markets. The market research firm projects that total revenue will hit $15.8 billion in 2021 up from $1.6 billion in 2015. The firm also estimates that total global consumers will reach 1.8 billion by 2021.

For large eCommerce, media and travel companies, running huge campaigns requires substantial effort and human oversight. Translating and laying out ads for dozens of languages is a challenge that one day machines may master — but they’ll do so with the help of constant human guiding and adjustments.

The fashion industry has grown at 5.5 percent annually in the past decade, according to the McKinsey Global Fashion Index, and in 2016 was estimated to be worth $2.4 trillion.

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.

Episode Summary: This week’s episode of the AI in Industry podcast focuses on two main questions. First, how should business leaders determine the most fruitful, potential applications of AI in their business? Second, how do they choose the right one into which to invest resources?

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.