Category Archives: Artificial Intelligence

Ford is investing $1-billion into a new artificial intelligence company.

The investment will go towards developing a virtual driver system for Fords upcoming self-driving cars, with the potential to license the technology to other companies. The $1-billion investment is in Argo AI, founded by former Google and Uber leaders and features a team of experts in robotics and artificial intelligence led bycompany founders Bryan Salesky and Peter Rander.Salesky serves as CEO of Argo AIand was previously a leader on the self-driving car team of Google, while Rander is company COO and formerly had a similar role as Salesky at Uber.

The current team working on Fords virtual driver system will be combined with the roboticstalent and expertise of Argo AI. The virtual driver system is a machine-learning software that acts as the brain of autonomous vehicles. Both companies hope to bring SAE level 4 self-driving vehicles to Fords lineup.

SEE ALSO:Ford Turns its Attention Back to US Manufacturing, Dumps Plans for Mexico Plant

The automaker hopes to have fully autonomous vehiclesto marketin 2021 and by becoming majority stakeholder in Argo AI, it moves one step closer to that goal. The investment will bemade over five years.

The next decade will be defined by the automation of the automobile, and autonomous vehicles will have as significant an impact on society as Fords moving assembly line did 100 years ago, said Ford President and CEO Mark Fields. As Ford expands to be an auto and a mobility company, we believe that investing in Argo AI will create significant value for our shareholders by strengthening Fords leadership in bringing self-driving vehicles to market in the near term and by creating technology that could be licensed to others in the future.

Discuss this story on our Ford Forum

Original post:

Ford Invests $1-Billion in Artificial Intelligence - AutoGuide.com

More and more, health technologies originally viewed as futuristic have become reality. Photograph: Carmen Murillo/Getty Images/iStockphoto

Last year, it was reported that supercomputer IBM Watson diagnosed a rare form of leukaemia in a patient at a University of Tokyo-affiliated hospital whose case had baffled her medical team.

The cloud-based, artificial intelligence-powered supercomputer is capable of cross-referencing and analysing data from tens of millions of oncology papers from research institutes all over the world. From vast volumes of data, it can instantly pull out the information it needs, much faster than humans can.

The University of Tokyo reported that the 60-year-old Japanese woman was correctly diagnosed in just 10 minutes by Watson, after her genetic data was cross-referenced with the computers own database.

More and more, health technologies originally viewed as futuristic like virtual avatars and chatbots have become reality. These technologies use artificial intelligence (AI) to mimic conversation with people, interact on the internet and perform other tasks that would normally require human intelligence.

One example of this is Sensely, a mobile triage smartphone app currently being trialled by the National Health Service (NHS) in the United Kingdom.

Olivia, Senselys artificially intelligent virtual nurse, guides patients naturally through their personal healthcare needs on demand 24/7, 365 days a year. The blue-eyed, dewy skinned young woman in blue NHS scrubs, gathers information by listening to the patient and asking questions, similar to a person-to-person interaction with a clinician.

Sensely was developed by a Californian start-up, but as Richard Corbridge, chief executive of eHealth Ireland points out, theres no need to go to California to see examples of how AI is revolutionising healthcare. Five out of the top 10 start-ups in Dublin last year were in the digital health arena, he says.

Corbridge will be speaking at this weeks Dublin Technology Summit 2017 (February 15th to 16th) on the topic of Health Reality, Not Science Fi.

Things are moving so fast that technologies we would have regarded as sci-fi last year, will become a reality this year. Over the last couple of years, Ireland has made some really big strides in digital healthcare, he says.

We are still the last first world country not to have a national electronic health record (EHR) in place, yet we are way ahead in other areas, like DNA genome sequencing.

The eHealth Epilepsy Lighthouse Project has developed the infrastructure to sequence the genome (figure out the order of DNA nucleotides in a complete set of genes) in patients and to record this information for clinicians to use in the delivery of care. The significance of sequencing the genome is that it can be used by healthcare systems across the world to predict what will happen to an individual patients health.

Corbridge remarks: Take a patient with epilepsy who has had an epileptic seizure every day for 20 years at least. By taking a sample of that patients DNA, we can sequence the genome and enter the information into his/her EHR.

The multidisciplinary team can then use this data to change or adapt the patients care plan. Within a week of one patient on the project changing his diet, he went a full day without having a fit for the first time in 20 years.

Over the past few weeks, every maternity hospital in Ireland has been visited by teams from eHealth Ireland to identify where the gaps are in their digital health capabilities and to close them.

Going forward, every newborn baby in hospital will have three devices in their cot, monitoring respiration, temperature and heart rate. All of this information is automatically transferred to the babys EHR.

Instead of constantly checking these levels in individual patients, each nurse has a tablet PC where they can see the vital information on all the babies in their care at their fingertips, including requests for tests and scans and results. Within the next two years, every hospital in Ireland will have this technology. Its an amazing leap for Ireland in a short space of time, says Corbridge.

With an increased emphasis on getting patients to self-manage their health where possible, rapid advances are being made in smartphone and wearable devices. Another eHealth project is an app for patients with bipolar disorder which uses a chatbot to engage with the user, monitor their mood and try to keep them on the right track. With the patients consent, the app can contact their carer or GP if it feels they need support.

Dublin-based start-up TickerFit enables health professionals to prescribe, educate and monitor a heart patients recovery from a distance through a wearable device. Founder Avril Coleman is another of the speakers at this weeks summit which brings global leaders in innovation, technology and business together to shape the future of global trends and technologies. The two-day summit will host 10,000 members of the tech community at the Convention Centre Dublin this Thursday and Friday.

Fabian Bolin, cofounder of War on Cancer, will be talking about waroncancer.com, an online storytelling community to help people deal with the mental challenges that come with a cancer diagnosis.

Musics new role in healthcare and the evolving world of HealthTunes will be explored in a session entitled When Medicine Rocks, with the panel discussing the possibility of a time when music, given its undeniable influence on our emotions, could be prescribed along with conventional medicines.

To learn more visit dublintechsummit.com.

Read the original:

The artificial intelligence revolutionising healthcare - Irish Times

A much discussed area in technology these days is artificial intelligence, a type of machine learning. Artificial intelligence is a workload that requires an immense amount of processing power, which is why companies like microprocessor giant Intel (NASDAQ:INTC) -- a company that brings in tens of billions of dollars from sales of processors -- see this market as an interesting long-term growth opportunity.

Interestingly, although Intel is a major supplier of processors for artificial intelligence workloads, the company doesn't get nearly as much attention for its efforts in this market as does graphics specialist NVIDIA (NASDAQ:NVDA) -- a company that has seen significant revenue and profit growth from artificial intelligence applications as its long-term investments in this space are paying off.

Intel CEO Brian Krzanich at the company's AI day back in November 2016. Image source: Intel.

Intel went over its artificial intelligence strategy at its Feb. 9 investor meeting. Let's look at what the company had to say about the market and how it plans to win in it.

According to Intel, only 7% of server sales in 2016 were used for artificial intelligence workloads, but it is the "fastest-growing data center workload."

Within that 7%, the company says that 60% of those servers were used for "classical machine learning" while the remaining 40% were used for "deep learning."

The company then went on to show that of the servers used for classical machine learning, 97% used Intel Xeon processors to handle the computations, 2% used alternative architectures, and 1% used Intel processors paired with graphics processing units (likely from NVIDIA).

Among servers used for deep learning applications, the chipmaker says that 91% use just Intel Xeon processors to handle the computations, 7% use Xeon processors paired with graphics processing units, while 2% use alternative architectures altogether.

The point that Intel is trying to make is that its chips overwhelmingly dominate the market for servers that run artificial intelligence workloads today.

Intel clearly views graphics processors from the likes of NVIDIA as a threat to its position in the artificial intelligence market -- a reasonable viewpoint considering that NVIDIA's data center graphics processor business continues to grow at a phenomenal rate (revenue was up 145% in the company's fiscal year 2017).

The risk is that that those graphics processors, though usually paired with Intel Xeon processors, will reduce the demand for said Xeon processor (i.e., if some number of Xeon processors can be replaced by one Xeon processor and some smaller number of graphics processors, then Intel loses).

Intel's strategy, then, appears to be to cast a very wide net with a wide range of different architectures and hope that it can offer better solutions for specific types of artificial intelligence workloads than the graphics chipmakers like NVIDIA can.

Intel's broad AI product portfolio. Image source: Intel.

Look at the slide above and you'll notice Intel has different solutions for different types of workloads. It's promoting its next-generation Xeon processor (known as Skylake-EP) as the standard, general-purpose artificial intelligence processor.

From there, the offerings get more targeted. For some workloads, it will offer a specialized version of its Xeon Phi processor called Knights Mill. For others, it's going to offer combined Xeon processor with Field Programmable Gate Array (FPGA) chips. And, for still others, the company plans to offer a chip that combines a Xeon processor with a specialized deep learning chip called Lake Crest (based on technology that Intel acquired when it picked up start-up Nervana Systems).

Intel's strategy looks as solid as it can possibly be as it seems to be throwing its entire technical arsenal at the problem -- I'd say the company is well positioned to profit from the continued proliferation of artificial intelligence workloads.

What will only become evidence in time, though, will be how much market share Intel will ultimately be able to capture in this market. The underlying market growth should mean that Intel's revenue and profits here will grow, but obviously, the magnitude of that growth will depend on its ability to defend its market share while at the same time defending its average selling prices.

Ashraf Eassa owns shares of Intel. The Motley Fool owns shares of and recommends Nvidia. The Motley Fool recommends Intel. The Motley Fool has a disclosure policy.

Read more here:

Inside Intel Corporation's Artificial Intelligence Strategy - Motley Fool

In a 2015 interview with Elon Musk and Bill Gates, Musk argued that humanitys greatest concern should be the future of artificial intelligence. Gates adamantly voiced his alignment with Musks concerns, making clear that people need to acknowledge how serious of an issue this is.

So I try not to get to exercised about this problem, but when people say its not a problem then I really start to get to a point of disagreement, Gates said.

The fears surrounding unchecked advances in AI are rooted in the potential threat posed by machine superintelligence an intelligence that at first matches human-level capabilities, but then quickly and radically surpasses it. Nick Bostrom, in his book Superintelligence, warns that once machines possess a level of intelligence that surpasses that of our own, control of our future may no longer be in our hands.

Once unfriendly superintelligence exists, it would prevent us from replacing it or changing its preferences. Our fate would be sealed, Bostrom said.

For Musk, Gates and Bostrom, the arrival of superintelligent machines is not a matter of if, but when. Their arguments seem grounded and cogent, but their scope is too far-sighted. They offer little in the way of what we can expect to see from AI in the next 10 to 20 years, or of how best to prepare for the changes to come.

Dr. Michael Mauk, chairman of the UT neuroscience department, has made a career out of building computer simulations of the brain. His wide exposure to AI has kept him close to the latest developments in the field. And while Mauk agrees in principle with plausibility of superintelligent AI, he doesnt see its danger, or the timeline of its arrival, in the same way as those mentioned before.

I think theres a lot of fearmongering in this that is potentially, in some watered-down way, touching a reality that could happen in the near future, but they just exaggerate the crap out of it, Mauk said. Is (the creation of a machine mind) possible? I believe yes. Whats cool is that it will one day be an empirically answerable question.

For Mauk, hype of the sort propagated by Musk, Gates and Bostrom is out of balance, and doesnt reflect what we can realistically expect to see from AI. In fact, Mauk claims that current developments in neuroscience and computer science are not moving toward the development of superintelligence, but rather toward what Mauk calls IA, or Intelligent Automation.

Most computer scientists are not trying to build a sentient machine, Mauk said. They are trying to build increasingly clever and useful machines that do things we think of as intelligent.

And we see evidence of this all around us. IA has grown rapidly in recent years. From self-driving cars to Watson-like machines with disease diagnosing capabilities superior to that of even the best doctors, IA is set to massively disrupt the current social and economic landscape.

Students and professionals alike should sober any fears about a future occupied by superintelligent AI, and instead focus on the very real, and near future reality where IA will be profoundly impacting their career. And theres a beautiful irony to this. As humanity works to adapt to a world with greater levels of Intelligent Automation, along with its many challenges increased social strife, economic restructuring, the need for improved global cooperation it will inadvertently be preparing itself to face a potential future occupied by superintelligent AI.

Hadley is a faculty member in biology and a BS 15 in neuroscience from Southlake.

Continued here:

Artificial intelligence predictions surpass reality - UT The Daily Texan

By Debkumar Mitra

In 2016, a driverless Tesla car crashed killing the test driver. It was not the first vehicle to be involved in a fatal crash, but was the first of its kind and the tragedy opened a can of ethical dilemmas.

With autonomous systems such as driverless vehicles there are two main grey areas: responsibility and ethics. Widely discussed at various forums is a dilemma where a driverless car must choose between killing pedestrians or passengers. Here, both responsibility and ethics are at play. The cold logic of numbers that define the mind of such systems can sway it either way and the fear is that passengers sitting inside the car have no control.

Its us versus them, C3

Any new technology brings a new set of challenges. But it appears that creating artificial intelligence-driven technology products is almost like unleashing the Frankensteins monster. Artificial Intelligence (AI) is currently at the cutting-edge science and technology. Advances in technology, including aggregate technologies like deep learning and artificial neural networks, are behind many new developments such as that Go playing world champion machine.

However, though there is great positive potential for AI, many are afraid of what AI could do, and rightfully so. There is still the fear of a technological singularity, a circumstance in which AI machines would surpass the intelligence of humans and take over the world.

Researchers in genetic engineering also face a similar question. This dark side of technology, however, should not be used to decree closure of all AI or genetics research. We need to create a balance between human needs and technological aspirations.

Much before the current commotion over ethical AI technology, celebrated science-fiction author Isaac Asimov came up with his laws of robotics.

Exactly 75 years ago in a 1942 short story Runaround, Asimov unveiled an early version of his laws. The current forms of the laws are: 1. A robot may not injure a human being or, through inaction, allow a human being to come to harm 2. A robot must obey orders given it by human beings except where such orders would conflict with the First Law 3. A robot must protect its own existence as long as such protection does not conflict with the First or Second Law

Given the pace at which AI systems are developing, there is an urgent need to put in some checks and balances so that things do not go out of hand.

There are many organisations now looking at legal, technical, ethical and moral aspects of a society driven by AI technology. The Institute of Electrical and Electronics Engineers (IEEE) already has Ethically Aligned Designed, an AI framework addressing the issues in place. AI researchers are drawing up a laundry list similar to Asimovs laws to help people engage in a more fearless way with this beast of a technology.

In January 2017, Future of Life Institute (FLI), a charity and outreach organisation, hosted their second Beneficial AI Conference. AI experts developed Asilomar AI Principles, which ensures that AI remains beneficial and not harmful to the future of humankind.

The key points that came out of the conference are: How can we make future AI systems robust, so that they do what we want without malfunctioning or getting hacked? How can we grow our prosperity through automation while maintaining peoples resources and purpose? How can we update our legal systems to be more fair and efficient, to keep pace with AI, and to manage the risks associated with AI? What set of values should AI be aligned with, and what legal and ethical status should it have?

Ever since they unshackled the power of the atom, scientists and technologists have been at the forefront of the movement emphasising science for the betterment of man. This duty was forced upon them when the first atom bomb was manufactured in the US. Little did they realise that a search for the atomic structure could give rise to nasty subplot? With AI we are at the same situation or maybe worse.

No wonder at an IEEE meeting that gave birth to ethical AI framework, the dominant thought was that the human and all living beings must remain at centre of all AI discussions. People must be informed at every level right from the design stage to development of the AI-driven products for everyday use.

While it is a laudable effort to develop ethically aligned technologies, it begs another question that has been raised at various AI conferences. Are humans ethical?

DISCLAIMER : Views expressed above are the author's own.

See the article here:

Creating artificial intelligence-driven technology products is almost like unleashing the Frankenstein's monster - Economic Times (blog)

John Greim/LightRocket via Getty Images

Wells Fargo has created a team to develop artificial intelligence-based technology and appointed a lead for its newly combined payments businesses, as part of an ongoing push to strengthen its digital offerings.

Wells Fargo's AI team will work on creating technology that can help the bank provide more personalized customer service through its bankers and online, the bank said on Friday. It will be led by Steve Ellis, head of Wells Fargo's innovation group.

Well Fargo's AI focus comes as banks and other large financial institutions increase their investment in the emerging technology which seeks to train computers to perform tasks that would normally require human intelligence.

Projects range from systems that can spot payments fraud or misconduct by employees, to technology that can make more personal recommendations on financial products to clients.

The bank also announced that it had appointed Danny Peltz, head of treasury, merchant and payment solutions, to head business development and strategy for its combined payments businesses.

For more about Wells Fargo, watch:

Pelz's group, which comprises of the bank's consumer, small business, commercial and corporate banking payments businesses, will also be tasked with establishing relationship with other companies in the payments landscape. It will also be in charge of the bank's new API (application program interface) services, or technology that allows customers to integrate Wells Fargo products and services into their own applications.

Both teams will report into Avid Modjtabai, head of payments, virtual solutions and innovation. Modjtabai's division was set up in October as part of efforts to enhance the bank's digital products and services by combining its innovation teams with some of the businesses most affected by changes in technology such as payments.

Read the original:

Wells Fargo Pushes Into Artificial Intelligence - Fortune

For a fleeting moment, the humans thought they had a chance.

Four professional poker players were convinced they found a flaw in the sophisticated artificial intelligence software that was beating them in a tournament of no-limit Texas Hold em. If they bet in odd sizes, it seemed to trip up the computer. Within a day or two, though, that weakness vanished.

It became very demoralizing showing up every day and losing this hard, said Jason Les, who has played professional poker for a decade.

When the 20-day tournament was done, the artificial intelligence, called Libratus, won a princely $1,766,250.

All four professional players Dong Kim, Daniel McAulay, Jimmy Chou and Les finished in the negative (although no money will change hands).

The win demonstrates the increasing sophistication of artificial intelligence software as computer scientists work to digitally replicate the human thought process. In this case, scientists demonstrated that AI can outwit the human brain in situations where at least some of the information needed to make smart decisions is unknown.

Artificial intelligence systems have mastered and beaten humans at other strategy games, such as Go and chess, in which both players have a full view of the game board. But poker is tricky: The computer doesnt know the hands that opponents have been dealt, or what decisions other players might make as a result.

The tournament was conducted for research purposes by the computer science department at Carnegie Mellon University. Prof. Tuomas Sandholm and doctoral student Noam Brown hope Libratus can ultimately be used in a number of game theory scenarios, such as business negotiations, cybersecurity attacks or military operations.

This is not necessarily replacing humans, but its taking their negotiation and strategic reasoning ability to another level as a support tool, Sandholm said.

Sandholm and Brown said the tournaments outcome will help determine those next steps for their research and expect the AI to be a support tool.

Here is the original post:

An artificial intelligence gamble that paid off - Minneapolis Star Tribune

New York Times

Ford to Invest $1 Billion in Artificial Intelligence Start-Up New York Times Ford Motor announced on Friday its plans to invest $1 billion over the next five years in Argo AI, an artificial intelligence start-up formed in December that is focused on developing autonomous vehicle technology. The move is Ford's biggest effort to ... Ford spending $1 billion on self-driving artificial intelligenceCNET Ford to invest $1 bln in artificial intelligence startupAl-Arabiya Ford to invest $1 billion in artificial intelligence for your carWashington Post SFGate -Ford Media all 114 news articles »

Original post:

Ford to Invest $1 Billion in Artificial Intelligence Start-Up - New York Times

I cant wait to push some paper today! Said no one ever. The mind-numbing work to keep the wheels of commerce rollingfilling out invoices, deciphering hand-written memos, processing insurance claimscan be a real grind. Its been that way since the time when Ebenezer Scrooge refused to provide another lump of coal to help warm overworked clerk Bob Cratchit. Lacking frailty of mind and body, artificial intelligence for business process automation appears to be a no-brainer.

In fact, a number of companies are employing AI techniques such as machine learning, computer vision and natural language processing to automate business processes. White-collar outsourcing is no longer going to Indiaits moving to the cloud.On one hand, that means job losses in the short term. Its already happening. The tech-loving Japanese are among the first to be replaced. For example, IBM Watson is now doing the job of more than 30 employees at an insurance company by calculating payouts. On the other hand, theres a lot of money in outsourcing. Global business process outsourcing was worth $63.5 billion in 2015, according to Statista. Companies rolling out artificial intelligence for business processes say automation will free employees from mundane tasks for more dynamic work, like checking Facebook more often.

You may recall that a few months ago we expressed some healthy skepticism about this new, so-called digital workforce. Our complaint was that much of this seemed like software automation repackaged with buzzwords like robotic process automation, cognitive technologies and desktop automation. However, we promised to dive further into this sector. In this article, well look at a couple of startups and a couple of veteran companies claiming to useartificial intelligence for business process automation.

New York-based WorkFusion is fresh off a $35 million Series D in January 2017. That brings the total investments to about $71 million since the company was founded in 2010. The latest series was led by Georgian Partners with participation from existing investors Mohr Davidow Ventures, iNovia, Nokia Growth Partners, Greycroft and RTP Ventures.

WorkFusion claims its machine learning platform can eliminate up to 90 percent of back-office business work and its AI-powered bots can increase service center capacity fivefold. Clients can reportedly enjoy a 50 to 80 percent ROI within the first year.

How does WorkFusion work its magic? Remember that machine learning is all about improving computer performance through experience rather than pre-programmed software. Its AI platform learns on the job. It has already studied the habits of 35 million users on its platform on how to do business-related processes, according to a story in Business Insider.

Last year, WorkFusion partnered with VirtusaPolaris, the market-facing brand created when Virtusa Corporation (NASDAQ: VRTU) acquired Polaris Consulting & Services a year or so ago. VirtusaPolaris provides IT consulting and outsourcing support in the banking and financial services market. That would seem to open up bigger opportunities for fledgling WorkFusion. Though we wonder where this partnership might eventually go. Virtusa has been on a shopping spree since 2009, acquiring seven companies during that time.

Another startup from the Big Apple using artificial intelligence for business process automation is HyperScience. It comes to the table with nearly $19 million in funding, most recently a second Series A in December 2016 that netted $8 million, led by Felicis Ventures. Thats also when it announced its existence to the world with the launch of its website.

The company initially focused on back-office automation. Its first product, HS Forms, is meant to replace the tedium of data entry. Its machines can read and understand any kind of text, apparently even our atrocious scribble. Such automation speeds up the processing of products like mortgage applications or medical records faster than any human, even with a double espresso each morning. HyperScience says HS Forms uses advanced computer vision techniques to process documents, identify content types, and extract the content.

The company also lists two additional, more sophisticated products. HS Freeform can take unstructured data, whether digital or handwritten, and read, understand and digitize the information. HS Evaluate goes one step further, reviewing files and applications with human-like judgment. The company says its AI software can automatically review an extensive claim file, eliminate duplicate entries, assess eligibility, and then deliver precise adjudication decisions. Judge Judy, youre fired.

Apparently the water in New York isnt just good for making bagels. Yet another company applying AI to business process automation is IPsoft, a private company with offices in 11 countries. Its been around since 1998 as an autonomic and cognitive solutions service provider, but recently went full AI with Amelia. Amelia isnt just another chatbot, according to the company, but an artificial intelligence platform that can automate just about any business process currently done by bipedal cubicle critter. Amelias digital job resume includes everything from helping customers open new bank accounts to processing insurance claims.

Calling her a cognitive agent, IPsoft says Amelia can emulate human intelligence, making her capable of natural interactions with people. She can understand human language, learn through observation and determine what actions to take in order to fulfill a request or solve a problem.

In one case study, for example, Amelia was able to take over nearly 20 percent of all incoming IT service desk tasking for a European bank after only 45 days of training. And the multi-tasking cognitive agent proved to be a fast learner as a mortgage broker as well. Within two weeks, Amelia could answer three-quarters of all questions with an 88 percent success rate.

Meet Amelia in this video:

From across the Pond we found publicly traded Blue Prism (LON: PRSM). The U.K.-based company, with offices across three time zones in the United States and Australia, debuted on the AIM market of the London Stock Exchange in March 2016. So far, the companyat least its stockhas performed admirably. An investment of 10,000 at the companys first closing bell on March 16 would have netted you nearly 40,000 less than a year later.

Founded back in 2001 by a group of process automation experts, Blue Prism counts more than 150 enterprise clients, including ten top global banks such as Barclays Africa Group, BNY Mellon, Commerzbank, Nordea, ING and Westpac, as well as several of the worlds leading insurers including Zurich, Swinton Insurance and Aegon. Other big names in various industries include Maersk, Siemens, IBM, Procter & Gamble and Nokia.

Heres how Blue Prism explains its robotic process automation (RPA) platform:

Blue Prisms RPA is built as the transactional platform, with its software robots helping AI turn decisions into actions. The cognitive decision making built into these software robots brings AI to life and also enables knowledge transfer between the robots and third-party AI applications as the two engage and interface with one another allowing the robots to recognize items and take action with no external intervention.

We see quite a bit of momentum in AI-powered business process automation. More than a few Global 2000 companies are signing up with players like Blue Prism and IPsoft. It wont be long before youre conversing with Amelia rather than John in Mumbai.

In a sense, this sort of automation has been around for a while, as we noted earlier. Its the artificial intelligence piece thats new. And like with many of the pieces we write on this topic, we want to caution you that anyone can slap AI on their website and call it machine learning. Its like seeing the word natural on a food label. You have to be sure to read the ingredient list first.

Looking to buy shares in companies before they IPO?A company called Motif Investing lets you buy pre-IPO shares in companies that are led by JP Morgan. You can open an account with Motif with no deposit required so that you are ready to buy pre-IPO shares when they are offered.

More here:

Artificial Intelligence in Business Process Automation - Nanalyze

By Anna Irrera | NEW YORK

NEW YORK Wells Fargo & Co has created a team to develop artificial intelligence-based technology and appointed a lead for its newly combined payments businesses, as part of an ongoing push to strengthen its digital offerings.

Wells Fargo's AI team will work on creating technology that can help the bank provide more personalized customer service through its bankers and online, the bank said on Friday. It will be led by Steve Ellis, head of Wells Fargo's innovation group.

Well Fargos AI focus comes as banks and other large financial institutions increase their investment in the emerging technology which seeks to train computers to perform tasks that would normally require human intelligence.

Projects range from systems that can spot payments fraud or misconduct by employees, to technology that can make more personal recommendations on financial products to clients.

The bank also announced that it had appointed Danny Peltz, head of treasury, merchant and payment solutions, to head business development and strategy for its combined payments businesses.

Peltz's group, which comprises of the bank's consumer, small business, commercial and corporate banking payments businesses, will also be tasked with establishing relationship with other companies in the payments landscape. It will also be in charge of the bank's new API (application program interface) services, or technology that allows customers to integrate Wells Fargo products and services into their own applications.

Both teams will report into Avid Modjtabai, head of payments, virtual solutions and innovation. Modjtabai's division was set up in October as part of efforts to enhance the bank's digital products and services by combining its innovation teams with some of the businesses most affected by changes in technology such as payments.

(This version of the story was refiled to correct paragraph 6 typographical error to Peltz instead of Pelz)

(Reporting by Anna Irrera; Editing by Lisa Shumaker)

Facebook Inc said it would provide information about ads displayed on its platform for an audit, months after the social network admitted to overstating key ad metrics.

WASHINGTON The U.S. Federal Communications Commission said Friday that bidding in the wireless spectrum auction has ended at $19.6 billion, significantly less than many analysts had initially forecast.

SAN FRANCISCO Ford Motor Co plans to invest $1 billion over the next five years in tech startup Argo AI to help the Detroit automaker reach its goal of producing a self-driving vehicle for commercial ride sharing fleets by 2021, the companies announced on Friday.

Originally posted here:

Wells Fargo sets up artificial intelligence team in tech push - Reuters