AI News, BOOK REVIEW: 19 Artificial Intelligence Examples You Should Know
If You Were Worried DJs Were Working Too Hard, This Idiotic AI Literally Picks Songs for Them
Called “DJUCED,” the AI algorithm can automatically select songs to put together a fun, dance-oriented playlist for DJs who have too much stage fright to, you know, pick songs.
DJUCED is based on a mix of “scientific literature and DJ common sense” that Hercules’ development team used to determine which qualities of songs made them best fit together in a tracklist.
In response to questions, a company spokesperson said that the AI’s recommendations “remain suggestions — it is always up to the DJ to listen to the tracks, know the audience, and find a perfect fit between the two.” But given that a DJ’s singular job is to, um, select and mix songs, it remains unclear what those choices actually are.
AI and the bottom line: 15 examples of artificial intelligence in finance
If there's one technology that's paying dividends, it's AI in finance. Artificial intelligence has given the world of banking and the financial industry as a whole a way to meet the demands of customers who want smarter, more convenient, safer ways to access, spend, save and invest their money.
A recent study found 77% of consumers preferred paying with a debit or credit card compared to only 12% who favored cash. But easier payment options isn't the only reason the availability of credit is important to consumers. Having good credit aids in receiving favorable financing options, landing jobs and renting an apartment, to name a few examples. With so many of life's important necessities hinging on credit history, the approval process for loans and cards is more important than ever.
Artificial intelligence solutions are helping banks and credit lenders make smarter underwriting decisions by utilizing a variety of factors that more accurately assess traditionally underserved borrowers, like millennials, in the credit decision making process. Here are a few examples of companies helping the financial industry rethink the underwriting process.
ZAML is an end-to-end platform that institutions can implement and scale quickly. Industry impact: Auto lenders using machine-learning underwriting cut losses by 23% annually, more accurately predicted risk and reduced losses by more than 25%, according to ZestFinance.
Currently scoring over 100 million customers, Scienaptic's Ether connects myriad unstructured and structured data, smartly transforms the data, learns from each interaction and offers contextual underwriting intelligence. Industry impact: Working with one major credit card company, Scienaptic boasted $151 million in loss savings in just three weeks.
Time is money in the finance world, but risk can be deadly if not given the proper attention. Accurate forecasts predictions are crucial to both the speed and protection of of many businesses. Financial markets are turning more and more to machine learning, a subset of artificial intelligence, to create more exacting, nimble models. These predictions help financial experts utilize existing data to pinpoint trends, identify risks, conserve manpower and ensure better information for future planning.
Industry impact: Traders with access to Kensho's AI-powered database in the days following Brexit used the information to quickly predict an extended drop in the British pound, according to a 2017 Forbes article. In March 2018, S&P Global announced a deal to acquire Kensho for roughly $550 million. View Jobs + Learn More
Additionally, 41% are 'very willing' to use computer-generated banking advice. AI assistants, such as chatbots, use artificial intelligence to generate personalized financial advice and natural language processing to provide instant, self-help customer service. Here are a few examples of companies using AI to learn from customers and create a better banking experience.
Shape Security's Blackfish network also uses AI-enabled bots to detect compromised login credentials, alerting both customers and companies to security breaches instantly. Industry impact: Shape's solutions have helped one major bank protect customers from account highjacking and detected one million credential stuffing attacks in the first week of use, according to information provided on the company's website.
Industry impact: In a highlighted case study on the company's website, global financial software firm Ipreo deployed Darktrace to protect its customers from sophisticated cyber attacks. Ipreo saw immediate results in real-time threat detection and defense against internal and external threats.
Vectra's platform automates threat detection, reveals hidden attackers specifically targeting financial institutions, accelerates investigations after incidents, and even identifies compromised information. Industry impact: A Vectra case study provides an overview of its work to help a prominent securities exchange prevent malware attacks.
Surgical robots, new medicines and better care: 32 examples of AI in healthcare
Artificial intelligence simplifies the lives of patients, doctors and hospital administrators by performing tasks that are typically done by humans, but in less time and at a fraction of the cost. One of the world's highest-growth industries, the AI sector was valued at about $600 million in 2014 and is projected to reach a $150 billion by 2026.
Whether it's used to find new links between genetic codes or to drive surgery-assisting robots, artificial intelligence is reinventing — and reinvigorating — modern healthcare through machines that can predict, comprehend, learn and act.
The company’s deep learning platform analyzes unstructured medical data (radiology images, blood tests, EKGs, genomics, patient medical history) to give doctors better insight into a patient’s real-time needs.
The scientists used 25,000 images of blood samples to teach the machines how to search for bacteria. The machines then learned how to identify and predict harmful bacteria in blood with 95% accuracy.
Adam scoured billions of data points in public databases to hypothesize about the functions of 19 genes within yeast, predicting 9 new and accurate hypotheses.
BERG recently presented its findings on Parkinson’s Disease treatment — they used AI to find links between chemicals in the human body that were previously unknown — at the Neuroscience 2018 conference.
Location: Cambridge, Massachusetts How it's using AI in healthcare: Combining AI, the cloud and quantum physics, XtalPi’s ID4 platform predicts the chemical and pharmaceutical properties of small-molecule candidates for drug design and development.
Additionally, the company claims its crystal structure prediction technology (aka polymorph prediction) predicts complex molecular systems within days rather than weeks or months.
Atomwise’s AI technology screens between 10 and 20 million genetic compounds each day and can reportedly deliver results 100 times faster than traditional pharmaceutical companies.
Location: London, England How it's using AI in healthcare: The primary goal of BenevolentAI is to get the right treatment to the right patients at the right time by using artificial intelligence to produce a better target selection and provide previously undiscovered insights through deep learning.
A 2016 study of 35,000 physician reviews revealed 96% of patient complaints are about lack of customer service, confusion over paperwork and negative front desk experiences.
New innovations in AI healthcare technology are streamlining the patient experience, helping hospital staff process millions, if not billions of data points, faster and more efficiently.
The company’s technology helps hospitals and clinics manage patient data, clinical history and payment information by using predictive analytics to intervene at critical junctures in the patient care experience.
Location: Cleveland, Ohio How it's using AI in healthcare: The Cleveland Clinic teamed up with IBM to infuse its IT capabilities with artificial intelligence. The world-renowned hospital is using AI to gather information on trillions of administrative and health record data points to streamline the patient experience.
Since implementing the program, the facility has seen a 60% improvement in its ability to admit patients and a 21% increase in patient discharges before noon, resulting in a faster, more positive patient experience.
Additionally, the inability to connect important data points is slows the development of new drugs, preventative medicine and proper diagnosis. Many in healthcare are turning to artificial intelligence as way to stop the data hemorrhaging.
Location: Seattle, Washington How it's using AI in healthcare: KenSci combines big data and artificial intelligence to predict clinical, financial and operational risk by taking data from existing sources to foretell everything from who might get sick to what's driving up a hospital’s healthcare costs.
The company’s software helps pathology labs eliminate bottlenecks in data management and uses AI-powered image analysis to connect data points that support cancer discovery and treatment.
How it's using AI in healthcare: When IBM’s Watson isn’t competing on Jeopardy!, it's helping healthcare professionals harness their data to optimize hospital efficiency, better engage with patients and improve treatment.
Location: Shenzhen, China How it's using AI in healthcare: ICarbonX is using AI and big data to look more closely at human life characteristics in a way they describe as “digital life.' By analyzing the health and actions of human beings in a “carbon cloud,' the company hopes its big data will become so powerful that it can manage all aspects of health.
Robots equipped with cameras, mechanical arms and surgical instruments augment the experience, skill and knowledge of doctors to create a new kind of surgery. Surgeons control the mechanical arms while seated at a computer console while the robot gives the doctor a three dimensional, magnified view of the surgical site that surgeons could not get from relying on their eyes alone.
Being the first robotic surgery assistant approved by the FDA over 18 years ago, the surgical machines feature cameras, robotic arms and surgical tools to aide in minimally invasive procedures.
Under a physician’s control, the tiny robot enters the chest through a small incision, navigates to certain locations of the heart by itself, adheres to the surface of the heart and administers therapy.
Location: Eindhoven, The Netherlands How it's using AI in healthcare: MicroSure’s robots help surgeons overcome their human physical limitations. The company's motion stabilizer system reportedly improves performance and precision during surgical procedures.
Location: Caesarea, Israel How it's using AI in healthcare: Surgeons use the Mazor Robotics' 3D tools to visualize their surgical plans, read images with AI that recognizes anatomical features and perform a more stable and precise spinal operation.
- On 21. oktober 2021
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