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What Changes When AI Is So Accessible That Everyone Can Use It?

What Changes When AI Is So Accessible That Everyone Can Use It? | wealth business & social media | Scoop.it

Mazin Gilbert has an ambitious goal. As vice president of advanced technologies at AT&T, Gilbert wants to make AI technologies widely available throughout the corporation, especially to those who might not have a computer science background and may not even know how to program. Call it the “democratization of AI.” To accomplish that goal, AT&T is building a user-friendly platform with point-and-click tools that will enable employees — up to one-quarter of the company’s workforce — to build their own AI applications.

 

AT&T and a host of other companies are trying to address a crucial issue in business: the severe shortage of AI talent. According to some estimates, only about 10,000 programmers in the world have the necessary expertise to develop advanced AI algorithms. But that’s barely a drop in the bucket for what companies will need in their future workforces. Tools like AT&T’s platform will help spread AI technologies well beyond just a limited number of “haves” and reach the “have nots” that may lack the technical knowledge and experience.

 

This democratization of AI will happen in two ways. First, it will enable employees across a large organization like AT&T to develop their own AI applications to make them better at their jobs. But it will also allow smaller firms to deploy some of the same AI capabilities that have heretofore been limited to large corporations. Think of how spreadsheets like Lotus 1-2-3 and Excel helped democratize data analysis, enabling even mom-and-pop shops to perform invaluable “what-if” analyses.


Via The Learning Factor
David Stapleton's insight:
Enabling even mom-and-pop shops to perform invaluable “what-if” analyses.
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The Learning Factor's curator insight, January 30, 4:24 PM

Off-the-shelf tools will shift competitive advantage.

Graphics Design's curator insight, January 31, 5:38 AM

It's miserable to see that the utilization of custom business card design is vanishing in the present advanced age. In any case, since no single alternative has sufficiently increased the drive to supplant this straightforward advertising device, it is as yet critical and irreplaceable to keep a decent stock in your wallet, pocket or portfolio to ensure you get the chance to present yourself successfully when the shot comes.

Graphics Design's curator insight, January 31, 5:47 AM

That is valid, yet at the same time, there are different contemplations that you have to consider. One of them is the substance of the card. Content, all things considered, is above all else. You have to guarantee that your message and contact subtle elements are the first rates on the custom business card design.

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Artificial Intelligence: JP Morgan is showing the way...

Artificial Intelligence: JP Morgan is showing the way... | wealth business & social media | Scoop.it
In news more suited to the likes of Amazon, JP Morgan is set to look at customers’ spending histories in order to sell them future products or services.

Via Huy Nguyen Trieu
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Huy Nguyen Trieu's curator insight, January 31, 2017 2:31 AM

Artificial Intelligence in finance is a topic that raises a lot of interest. Although AI is predicted to change whole sectors in finance (from asset management to compliance), I've always thought that the first applications of AI in banks would be much less spectacular - but much more useful - and that would be the tried and tested recommendation engine a la Amazon

CBR and FT reported yesterday that JP Morgan is launching a smart system to assist their sales people and suggest trades to clients - in other words, a recommendation engine for the trading floor

This is a very welcome news - banks are finally using a technology that has been around for more than a decade and brings a real value to their clients. Of course, even if the technology is tried and tested, the main challenge will be to access, clean and aggregate customer and trade data that reside in dozens of different systems.

My guess is that we will start to see more and more banks applying similar technologies - not only because it's the normal evolution of the sales/client relationship, but also because they wouldn't want to see JP Morgan have a competitive edge...

I've been saying for years that the AI needs to come to banking through customer relationship and I'm glad JP Morgan is showing the way. Let's see who's next...

 

PS: coincidentally, we discussed this exact topic last week on Around Fintech in 80 days. If you want to learn Fintech, follow our fun experiment...

 

If you want updates on Disruptive Finance and Fintech:
– You can enter your email address to receive an email whenever I write a new post
– You can also follow me on Twitter here
Don’t hesitate to share if you like this post

 

 

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Artificial Intelligence: JP Morgan is showing the way...

Artificial Intelligence: JP Morgan is showing the way... | wealth business & social media | Scoop.it
In news more suited to the likes of Amazon, JP Morgan is set to look at customers’ spending histories in order to sell them future products or services.

Via Huy Nguyen Trieu
more...
Huy Nguyen Trieu's curator insight, January 31, 2017 2:31 AM

Artificial Intelligence in finance is a topic that raises a lot of interest. Although AI is predicted to change whole sectors in finance (from asset management to compliance), I've always thought that the first applications of AI in banks would be much less spectacular - but much more useful - and that would be the tried and tested recommendation engine a la Amazon

CBR and FT reported yesterday that JP Morgan is launching a smart system to assist their sales people and suggest trades to clients - in other words, a recommendation engine for the trading floor

This is a very welcome news - banks are finally using a technology that has been around for more than a decade and brings a real value to their clients. Of course, even if the technology is tried and tested, the main challenge will be to access, clean and aggregate customer and trade data that reside in dozens of different systems.

My guess is that we will start to see more and more banks applying similar technologies - not only because it's the normal evolution of the sales/client relationship, but also because they wouldn't want to see JP Morgan have a competitive edge...

I've been saying for years that the AI needs to come to banking through customer relationship and I'm glad JP Morgan is showing the way. Let's see who's next...

 

PS: coincidentally, we discussed this exact topic last week on Around Fintech in 80 days. If you want to learn Fintech, follow our fun experiment...

 

If you want updates on Disruptive Finance and Fintech:
– You can enter your email address to receive an email whenever I write a new post
– You can also follow me on Twitter here
Don’t hesitate to share if you like this post

 

 

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What do finance professionals think of AI?

What do finance professionals think of AI? | wealth business & social media | Scoop.it

"AI and machine learning will undoubtedly alter both the headcount and the nature of skills required in the industry. A significant minority of survey respondents fear the effects on the workforce will be negative within the next few years. But wholesale displacement of humans is for the longer term – nearly seven in ten believe AI will bring complete or substantial change to their own jobs over the next 15 years. Even in trading, where automation is already widespread, human roles will remain critical in areas such as algorithm validation and monitoring, as well as compliance. At this point, few believe machine learning models can or should drive financial-market operations completely independently of human control...."


Via Huy Nguyen Trieu
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Huy Nguyen Trieu's curator insight, May 9, 2016 2:15 AM

A while ago, I wrote that AI and machine learning was more and more used in our daily lives - but that finance had so far failed to embrace these techniques. 

Euromoney Thought Leadership just published a very interesting report, where they surveyed 400 senior managers in finance and analysed their views about AI.

I was actually slightly suprised by the results: the majority of participants thought that the main impact would be on 1) trading strategies, 2) credit scoring and 3) compliance. For trading strategies and credit scoring, we could argue that this is business as usual - these businesses already are big users of algorithms, and AI/machine learning, etc will be just another tool to improve their models (although it introduces some ethical/regulatory issues because of the vast amount of data used). So it feels that it would be more incremental than a real game changer in my opinion.

On the other hand, tools such as recommendation engines a la Amazon (rumored to be reponsible for 1/3 of Amazon sales) would be much more disruptive in my opinion - since they have rarely been used before in finance.

In a world where proprietary trading and creating alpha is much more challenging, using AI to improve sales and customer relationship might be an easier strategy than optimizing trading strategies. 

 

PS : thanks to Tom Upchurch for the document

 

If you want updates on Disruptive Finance and Fintech:
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– You can also follow me on Twitter here
Don’t hesitate to share if you like this post