Shamayita Acharya

By John P. Desmond, AI Trends Editor The financial services industry has compiled a track record in the use of AI for fraud detection, with AI applications at Visa and Experian being two notable examples. The multinational Visa reports saving an estimated $25 billion annually from use of AI applications for fraud detection, according to Melissa McSherry, a senior VP and global head of data for Visa, according to an account in VentureBeat . The path to AI Visa chose may have lessons for other companies thinking about how to launch their automation projects. “We have definitely taken a use case approach to AI,” McSherry stated. “We don’t deploy AI for the sake of AI. We deploy it because it’s the most effective way to solve a problem.” Melissa McSherry, Senior VP and Global Head of Data, Visa The Visa Advanced Authorization (VAA) platform scores every transaction that goes across the network, rating each one based on the likelihood it is fraudulent. This allows more transactions

By AI Trends Staff The number one issue in lithium-ion batteries powering products from e-bikes and power tools for consumers, to self-driving cars and submarines, is to enhance battery safety , Dr. Rachid Yazami told an audience at the virtual International Battery Seminar from Cambridge EnerTech this week. Dr. Yazami, founder of Singapore startup KVI, which is developing smart chips to enhance battery performance and safety, is known for his critical role in the development of lithium-ion batteries. In a talk on whether AI can help address battery issues, he outlined the challenges in a battery market that is projected to reach $35 billion in value by 2025. “The market is growing very fast,” he said. Dr. Rachid Yazami, founder of KVI and contributor to development of the lithium-ion battery Short circuits in lithium-ion batteries are caused when a thin slip of polypropylene that keeps electrodes from touching is breached, so that the electrodes come in contact and generate he

By AI Trends Staff As researchers continue to find security flaws in smart home hub IoT devices, part of an immature security infrastructure. One researcher suggests AI can be helpful to address the vulnerabilities. A cybersecurity team from ESET, an internet security company based in Slovakia, found bugs in three different hubs dangerous enough to trigger remote code execution, data leaks and Man-in-the-Middle attacks, according to a recent account from ZDNet .  The hubs were: the Fibaro Home Center Lite, eQ-3’s Homematic Central Control Unit (CCU2) and ElkoEP’s eLAN-RF-003. The issues were reported to the vendors, and ESET did some follow up evaluation later. “Some of the issues appear to have been left unresolved, at least on older generations of devices,” ESET stated in its report. “Even if newer, more secure generations are available, though, the older ones are still in operation […] With little incentive for users of older-but-functional devices to upgrade them, they [users]

By Lance Eliot, the AI Trends Insider Walk or drive? That’s sometimes a daily decision that we all need to make. A colleague the other day drove about a half block down the street from his office, just to get a coffee from his favorite coffee shop. You might assume that foul weather prompted him to use his car for the half-block coffee quest rather than hoofing the distance on foot. Nope, there wasn’t any rain, no snow, no inclement weather of any kind. Maybe he had a bad leg or other ailments? No, he’s in perfectly good health and was readily capable of strutting the half-block distance. Here in California, we are known for our car culture and devotion to using our automobiles for the smallest of distances. Our motto seems to be that you’d be foolhardy to walk when you have a car that can get you to your desired destination, regardless of the distance involved. Numerous publicly stated concerns have been raised about this kind of mindset. Driving a car when you could have w

By AI Trends Staff This week, the Office of the Director of National Intelligence (ODNI) released the first of an evolving set of principles for the ethical use of AI. The six principles, ranging from privacy to transparency to cybersecurity, were described as Version 1.0 and were approved by John Ratcliffe, Director of National Intelligence. The six principles are positioned as a guide for the nation’s 17 intelligence agencies, especially to help them work with private companies contracted to help the government build systems incorporating AI, according to an account in Breaking Defense . The intelligence agency principles complement the AI principles adopted by the Pentagon earlier this year. “These AI ethics principles don’t diminish our ability to achieve our national security mission,” stated Ben Huebner, head of the Office of Civil Liberties, Privacy, and Transparency at ODNI. “To the contrary, they help us ensure that our AI or use of AI provides unbiased, objective and act

Smart technology is a growing trend. These devices help you navigate your everyday life — whether you're getting directions or locking your doors from your phone while on the go. When you put these innovations together, you get a smart home. In these homes, artificial intelligence (AI) plays a significant role in bringing "smartness" to the next level.The Rise of Smart HomesTechnology has been growing on somewhat of an exponential curve in the last decade. With the rise of smartphones, tech has taken the world to new and groundbreaking places. Lately, there's been an increasing trend with residential households being "smart" — which experts predict will surpass 300 million homes in 2023. Technology that only did one or two jobs is now going above and beyond to cater to personal needs and preferences to create more energy-efficient homes that have better security and health features like monitoring filtered water and air quality. Two factors contribute to thi

Artificial Intelligence or AI is the technology that is used to make intelligent machines. AI is used specifically for intelligent computing solutions. Artificial Intelligence is all about making the tools to mimic human intelligence. With the help of the AI-based tools, the users can perform similar activities as that of humans. The AI-based programs are meant to mimic human intelligence. Although, artificial intelligence is not only limited to mimicking human intelligence. Artificial Intelligence is not restricted to biologically observable techniques. Instead, the experts keep evolving AI to make newer and more useful AI-based tools and programs. Though the use of AI is increasing day by day, only the ethical use of AI will turn out to be beneficial for the world. Superb benefits of artificial intelligence Artificial Intelligence empowers computers to mimic human intelligence. The AI-based tools are made using machine learning, deep learning, logic, decision trees, etc. Artificial I

Data science has grown by leaps and bounds in the past few years. According to Research & Markets, nearly 90% of business professionals say data and analytics will be a key part of their digital transformation, so it’s not surprising that there is a constant demand for data science professionals across the industry. Not to mention, the good paycheck, promising growth, and consistently challenges at work make data science career extremely fulfilling. However, what’s challenging, is becoming a data scientist. A data scientist needs an extensive set of skills. Below are the skills that you need to get started in data science. Mathematics StatisticsProgrammingMachine Learning and Advanced Machine Learning (Deep Learning)Data VisualizationBig DataData IngestionData MungingTool BoxData-Driven Problem SolvingLet’s delve into each skill one by one. 1. Mathematics A common assumption among aspirants is if you’re not good at maths, you will not be a good data scientist. Mathematics is a cr

Electronic bill presentment and payment have made ecommerce faster, easier and more secure for both the seller and the buyer. The millennial population is looking for a redefined online payment solution. There are different companies offering electronic bill presentment and payment solutions. Every company wants to develop a payment solution for the future and be the first to enter the market with its solution. If you have been receiving online payments for the past couple of years, you already know that e commerce does not stand still. You and other online sellers are always in search of a payment solution that delivers better customer experience. Payment processing companies and electronic bill presentment and payment solution providers work relentlessly to provide solutions that are beneficial for both the online seller and buyer. They explore the scope of online payment to identify the trends that can change the future of electronic payments. Mobile Wallets The percentage of users

Outsourcing is the shifting of non-core business functions from in-house to an outside third-party company or contractor. Given how widespread it’s becoming, you may find yourself wondering if a career as an outsourced employee could be right for you. When it was initially introduced, the practice of outsourcing focused on lower-level functions like data entry and payroll. However, it has expanded to include higher-level functions like research and various IT services (see Bairesdev). This diversity of skills makes being an outsourced worker a realistic choice for a long-term career. Job Stability The stability of the outsourcing industry is demonstrated by its growth. The global outsourcing market grew from $45.6 billion in 2000 to $92.5 billion in 2019. This increase is largely driven by the cost savings, increased efficiencies, and access to expertise and advanced technology that companies achieve through the use of this staffing strategy. Those benefits aren’t likely to cha

A software development project is sometimes a difficult thing to track in terms of meeting specific quantifiable goals. While business and project owners would undoubtedly say that they want to reach these goals, they fail to implement the necessary metrics into the software development process. Instead, the development process runs its course and the project may be completed but often at the cost of poor quality and many missed deadlines. Why Use Software Development Metrics? Software metrics are game-changers for both a software development company (such as BairesDev) and clients alike. Metrics empower teams with the ability to make the most efficient choices based on objective data instead of their own personal feelings. Metrics are similar to measurements but are more complex and require different measurements themselves. In the software development process itself, metrics represent a set of quantifiable parameters and measurements that help teams track a variety of aspects d

Artificial Intelligence has enabled organizations to achieve some massive breakthroughs in the past decade. From its use in the Supply Chain and ECommerce to Research and Development, artificial intelligence has brought about massive transformation changes in business workflow and has led to an increasing demand among firms for implementing AI-based solutions.As per Gartner, around 37 percent of organizations are using AI in some form making it a 270 percent increase compared to last year. Another stat from Gartner predicted that around 80 percent of the emerging technologies will be based on AI, clearly showing that AI implementation will be greatly responsible for business growth.Artificial Intelligence is used to simplify business activities in different industry verticals. From automating tasks with RPA to speeding up decision making with useful insight comings from Predictive Engines– AI offers tremendous capabilities for businesses. And thus, AI Development Companies worldwide ha

Frequent business disruptions in the form of storms, pandemics, lockdowns, etc., pose risk to seamless operations and revenue generation in service industries. One day of operation disruption leads to losses worth millions. Semi-automation is not able to stop the cascading business effects of an unprecedented business disruption. Services such as banks, financial services, insurance, healthcare, information technology services, etc., cannot afford the risk of downtime. Chatbots powered by Intelligent Automation is that indispensable solution in the omni-channel customer interface that keeps the business moving 24x7 even in the face of a major business disruption such as long prevailing pandemic.How do Intelligent Automation powered Chat-bots offer seamless business continuity? Chatbots engage diverse skill sets such as Robotic Process Automation (RPA) and Artificial Intelligence (AI) / Machine Learning (ML), in short Intelligent Automation, and offer a lifeline to the service indust

Accessible web design has slowly come to the forefront for businesses—but doing it right is still proving to be a challenge.Users representing myriad communities have been vocal about the lack of accessibility while accessing online resources and this is finally leading to change.No matter what business sphere one exists in, being able to reach more users by incorporating accessible design is good business practice.Not everyone accesses the online world in the same ways. Users with impairments—cognitive, hearing, motor, speaking, and visual—interact with sites differently.We share a complete guide to adopting accessible design practices in 2020.Simplifying Design SourceSimplicity in design isn’t just important for accessibility—it also leans into the graphic design trend of minimalism that is taking over in 2020.The clearer the visual layout, the better the user experience—this is because it creates a definitive hierarchy of elements on the page.To create a simple and accessible des

Data quality is top of mind for every data professional — and for good reason. Bad data costs companies valuable time, resources, and most of all, revenue. So why are so many of us struggling with trusting our data? Isn’t there a better way? The data landscape is constantly evolving, creating new opportunities for richer insights at every turn. Data sources old and new mingle in the same data lakes and warehouses, and there are vendors to serve your every need, from helping you build better data catalogs to generating mouthwatering visualizations (leave it to the NYT to make mortgages look sexy). Not surprisingly, one of the most common questions customers ask me is “what data tools do you recommend?” More data means more insight into your business. At the same time, more data introduces a heightened risk of errors and uncertainty. It’s no wonder data leaders are scrambling to purchase solutions and build teams that both empower smarter decision making and manage data’s inherent

Businesses today are facing the toughest challenges across the world. Most of the countries are encouraging entrepreneurship and creating a favourable business environment for investors. The advancement in technology has caused a lot of sprains on small and medium enterprises. The SMEs are in heavy competition against the large corporations that have the capacity to eat of the market pie.Especially the latest and the most promising AI technology is what the large corporations around the world are eyeing for to stay efficient and win the competition. However, AI technology has always been expensive and mostly out of reach for small and medium businesses.Enter ONPASSIVE, a unicorn AI technology company that is dedicated to providing cutting edge AI technology products to the world. Mainly, it focuses on enabling small and medium enterprises to adopt AI in their operations and stand up against the massive competition offered by large companies.The companies that already have adopted AI

With the effective use of business intelligence tools, the process management became very easy for the entrepreneurs to gather and collect the insights from the data to improve their business needs. As the technical trend is moving towards big data and analytics, the BI software tools plays the smart role in identifying the context in data with dimensions and facts. The BI tools are categorized into storage and extract, analyze and model, interpret and process, visualize and report by using dashboards etc. The most widely used BI tools in the market are 1. SisenseThis tool is also applicable for analyzing the cloud data. It enables the users with the features of drag and drop functionality to analyze and visualize the big datasets from various sources. The tool is designed supporting the SQL Platform which can run the SQL queries to visualize the datasets. Sisense also uses Python and R for interpreting the business data2. Microsoft Power BIIt is the web based tool which can be accesse

By the turn of 2025, the world is expected to need 2.5 million data science professionals to work with organizations and governments in a structured manner. They will help organizations achieve the capacity to do things correctly at the first attempt itself, and will also facilitate quicker and more accurate decision-making driven by data.To make a move toward attaining this goal, the World Data Science Initiative (WDSI) has been set up. WDSI is working together with a number of technical schools and universities across the world, and the target is to have 250,000 talented data science professionals by the year 2022. In order to attain this goal, it will offer more than USD 300 million in grants for universities, which they can use to obtain accreditations for themselves and also assist their students in obtaining good certifications on the most advanced vendor-neutral standards in data science in the world.The main goal of data science is to facilitate quicker and better decision-maki

By Lance Eliot, the AI Trends Insider A veritable sea of yellow cabs. It used to be that if you booked a yellow cab for picking you up at a busy airport or similar venue, the odds were that a slew of other yellow cabs was also vying for picking up passengers there too. As such, you would have a tough time trying to figure out which among the multitudes of yellow cabs was the one designated just for you. The cabs sometimes had a number displayed on the outside of the vehicle, and in theory, you could then spot your particular yellow cab, but possessing the number was one tricky aspect and the other was the arduous difficulty of trying to clearly see the number among the blur of so many cabs. There was pretty much little point in reserving a cab beforehand and instead, it seemed wiser to take a chance at randomly hailing a cab. Today’s world is a sea change, as it were. When you wait for today’s Uber or Lyft ridesharing pick-ups, you are informed via your mobile app that the car i

By John P. Desmond, AI Trends Editor The pandemic is an excuse for many things. If ever there was a time to supplement (or replace, unfortunately) workers in meatpacking plants in the US, this might be it. But whether the robots are smart enough is a question posed by at least one professor. The coronavirus has set up the acceleration of a move to have robots do more work in meat cutting plants. In April and May, more than 17,300 meat and poultry processing workers in 29 states were infected and 91 died, according to the US Centers for Disease Control and Prevention (CDC), as quoted recently in The Wall Street Journal . US beef and pork production was reduced by more than a third in April as a result. The work is dangerous for humans, using knives and saws to work on carcasses moving down production lines, for an average pay of $16 per hour, according to the Bureau of Labor Statistics. The meatpackers have invested to make the workers safer, with protective equipment and workplace

By AI Trends Staff Workers for Hertfordshire, a home county in southern England, are using AI to monitor road conditions, picking up potholes using onboard cameras and enhancing productivity while coronavirus-related social distancing is in effect. Last year Hertofdshire filled 17,000 potholes, according to a recent account in Bishop’s Stortford Independent . The county last year adopted RoadAI to conduct safety inspections. The county was concerned about maintaining the safety of workers while continuing to manage the roadways. RoadAI is from Vaisala of Vantaa, Finland, a global leader in weather, environmental and industrial measurements, and a firm representing the trend of AI and high tech being applied to local government operations including road maintenance. “It allows us to continue with essential road maintenance during lockdown and in line with Government recommendations,” stated Kevin Carrol, divisional manager of Ringway, the county’s highways contractor. “Social dis