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Category Archives: Automation

The Evolving Landscape of APIs: Integration, Automation, and AI – EnterpriseTalk

Posted: March 4, 2024 at 7:32 am

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Gen AI isn’t the only tech driving automation in banking – Finextra

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Artificial Intelligence (AI) has surged into the mainstream and is poised to revolutionize operations in the banking sector. Several factors have fueled this surge, notably the exponential growth in data volume and complexity, heightened pressure for swift and precise decision-making, and the imperative for transparency. While generative AI is going to be invaluable with helping banks summarize large populations of data, and you may need to whisper this, its not the only technology driving automation in the banking sector.

AI Begins with Context

In risk modeling, selecting input data points, or features, holds paramount importance, often surpassing the choice of model or algorithm. In an industry bound by stringent regulatory requirements for modeling transparency and explainability, the scope for model selection is frequently constrained, elevating the significance of input features as the primary determinants of model success or failure. Therefore, the pivotal inquiry becomes: how can we imbue our features with maximal contextual relevance?

Network-based features emerge as a strong mechanism for infusing copious amounts of information into models while upholding the imperative for transparency and explainability. One effective approach entails leveraging bespoke document-entity networks to generate features that delineate the interconnectedness of businesses and individuals. For example, utilization of network features, depicting relationships between companies and their directors, can serve as pivotal inputs for machine learning shell company detection models, in some cases yielding a 20% enhancement in performance compared to relying solely on record-level features.

The outputs of such models predictions pertaining to shell companies and the agents orchestrating their formationhold implications for bolstering risk detection efforts across Anti-Money Laundering (AML), Know Your Customer (KYC), and Fraud mitigation domains.

By leveraging a composite AI tech stack banks can integrate subject matter expertise with a range of machine learning and deep learning techniques, alongside access to vast structured and unstructured industry data. This comprehensive approach enhances adaptability, accuracy, and effectiveness of models. Leveraging expertise and domain knowledge throughout the model development process ensures high accuracy and trust in solving complex business problems. In short, banks looking to implement AI should avoid relying on one model, technique or approach. Doing so can lead to limitations in perspective, adaptability and performance.

The Importance of Network Features

Networks offer a versatile framework for modeling entity relationships across various contexts. For instance, networks depicting payment transactions between parties can unveil telltale signs of financial malfeasance. By scrutinizing specific patterns within the networksuch as cycles of transactions with similar magnitudesbanks can unearth risks that would otherwise evade detection when examining transactions in isolation. Moreover, when supplemented with a repository of known instances of fraud, network features like the frequency of U-turn or cyclic payments can fortify supervised learning models, augmenting their predictive capacity for future risk scenarios.

One particularly salient network for modeling corporate risk is the organizational legal hierarchy, encompassing directors, shareholders, and subsidiaries. Fundamental attributes such as network size, connection density, and hierarchical layers serve as invaluable dimensions for segmentation and feature generation in supervised learning models, enhancing our ability to discern and mitigate potential risks effectively.

For investigators and analysts, its here that graph analytics comes into its own by allowing them to analyze, visualize and understand hidden connections across disparate datasets. Crucially its scalable and intuitive, allowing teams to traverse billions of edges without compromising on throughput with high frequency querying.

Entity Resolution is Transforming Bankings Future

Entity resolution leverages advanced AI and Machine Learning techniques to parse, cleanse, and standardize data, enabling the identification of entities across disparate datasets reliably. This process involves clustering related records, aggregating attributes for each entity, and establishing labeled connections between entities and their source records. Compared to traditional record-to-record matching approaches, entity resolution offers significantly enhanced efficacy.

Rather than attempting to directly link every source record, organizations can introduce new entity nodes as central points for connecting real-world data. High-quality entity resolution not only facilitates linking internal data but also enables the integration of valuable external data sources, such as corporate registries, which were previously challenging to match accurately.

Integration of entity resolution technology within the banking sector marks a significant leap forward, enabling banks to transition from batch-based processes to nearly real-time product-and-service offerings across omnichannel service frameworks. This evolution can go beyond counter-fraud to encompass all customer interactions through various touchpoints, including call centers, branches, and digital channels, ensuring a seamless and dynamic customer experience.

Generative AI has an important role to play

Over the next year, I do expect to see generative AI assistants leveraging Large Language Models (LLMs) to become increasingly prevalent within banking. Generative AI allows an intuitive and conversational interface, enhancing efficiencies for analysts engaged in risk identification within investigations. For organizations, the potential advantages are substantial, as this AI assistant empowers all analyst personnel to perform at the level of the most seasoned investigators. Many of these assistants will be LLM-agnostic, allowing businesses the flexibility to employ their preferred models, whether proprietary, open source, or commercially available models like ChatGPT from OpenAI. When integrated with other aspects of the composite AI stack it will support entity resolution, graph analytics, and scoring capabilities, unlocking unprecedented potential by enabling natural language queries and prompts.

Crucially, all generative AI products cannot act as a bolt-on or in isolation to wider AI automation. The results that it will generate are only as good as the data, context and entity resolution technology on which its built. Banks looking to implement generative AI should think more broadly about how different technologies fit into their AI automation tech stack.

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Navigating the Future: The Shift Towards Level 3 Automation in the Automotive Industry – Medriva

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Navigating the Future: The Shift Towards Level 3 Automation in the Automotive Industry  Medriva

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Automation and Controls Market is Rapidly Growing with Huge Application Scope and Opportunities by 2030 – EIN News

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Automation and Controls Market is Rapidly Growing with Huge Application Scope and Opportunities by 2030  EIN News

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Winning the Game: Essentials skills to survive AI, LLMs and Automation – DataDrivenInvestor

Posted: at 7:32 am

We are all living somewhere in between these words. Bounded by a legitimate fear of what's true and whats fake, it is fascinating and frightening at the same time to witness these technological miracles. I only thought CGI existed in movies. But like seriously! Is this even happening, I mean what went so right that AI today can make reality morph?

Back in 2019 when I was 1 year deep into conversation designing, somebody could have asked me at gunpoint, can I imagine a world in 4 to 5 years where all your content needs will be taken care of, realistic images can be generated with just a few lines of text and your job getting haunted by AI? I would have thought they had too many pints last night. How can someone be so ready to figure out the possibilities these AI systems would bring?

It took me a whole lot of time and thinking to figure a way out rather way in this changing wind and rising tides. I even rode the layoff train. What worked out for me was a small mindset that is: I have the skills to navigate. What are those you might ask! In this article, Ive tried accumulating my thoughts to live the big buck dream. Unless you are a genius, an awesome content creator, or blessed with a utopian life, these pointers might help:

Dont think the winning shot requires you to work hard. That is already getting taken care by AI. Work smart. Swap out those outdated strategies stuck to your head. Dont just strive for perfection by rigor alone. Show you are unique in your approach and thought process. People love these traits. Learn, unlearn and relearn the world and what is changing.

AI might get you from point A to point B but the road taken might not always be the road to be taken. Consequence of actions is still something only we humans can determine and figure out. Your emotional intelligence is the ultimate playlist. As these innovations create more independence and dependency on tech, its high time to connect with people and understand emotions. Only then you can bring that unique human touch to roles where algorithms fear to tread.

As AI takes center stage, ethical considerations become the heartbeat of the party. You need to navigate the moral maze of bias, transparency, and responsible tech. There are tons of examples where AI getting biased and saying something its not meant to. While these AI systems play around, someone needs to mark the boundaries and create rules of engagement, something that has created a lot of interest and in turn opportunities.

Think about building bridges not just cubicles. Forget traditional silos, dress codes and strict log-in times. Its time to collaborate with everyone around you. Master the art of interdisciplinary teamwork, something that is not only good for any business but its gonna take you places. Cue the fireworks!

Nothing beats the aura of a creative flair in your work. AI can automate, LLMs can generate but nothing can bring sense without your creative virtuoso. It's a priceless skill, something no one can take it away from you. Just perfect it with time. Thrive in style.

Today I work as Senior Experience Designer with Publicis Sapient. I design conversations everyday. Automation and AI didnt make me helpless, oh darn well it could. My bridge is into creating experiences for people who rely on humans to figure out kinds of stuff unless done by AI. Wish this helps!!

PS: This article is ChatGPT free, written with pure grit and creativity.

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Industrial Metrology Market Set to Hit $17.96 Billion by 2030, Driven by Automation and Quality Demand – BNN Breaking

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Industrial Metrology Market Set to Hit $17.96 Billion by 2030, Driven by Automation and Quality Demand  BNN Breaking

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Industrial Metrology Market Set to Hit $17.96 Billion by 2030, Driven by Automation and Quality Demand - BNN Breaking

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Automation tools Archives – Milwaukee Community Journal – The Milwaukee Community Journal

Posted: at 7:32 am

By Lauren Victoria Burke, NNPA Newswire Contributor

Tyler Perry was planning an $800 million expansion of his studio in Atlanta. Now the plans are on hold. Why? Because a new text-to-video artificial intelligence (AI) model. The new AI model by ChatGTP entitled Sora creates video from a text prompt.

In an interview with the Hollywood Reporter on Feb. 23, Perry, who is worth over $1 billion, said that the new technology will cause job loss in the movie industry. The question of how artificial intelligence technology will impact employment across fields is a growing concern.

In the creative fields around special effects and animation design, artificial intelligence is all but certain to cause impact and create job loss. But there are other jobs that are likely to be impacted.

With the rise of e-commerce and automated checkout systems, traditional retail roles may diminish. Cashiers: Similar to retail salespersons, automated checkout systems are reducing the need for human cashiers. Telemarketers: AI-driven chatbots and voice recognition systems are increasingly handling customer inquiries. Data Entry Clerks: Automation tools can handle routine data entry tasks more efficiently. Bookkeepers and Accounting Clerks: AI can automate many financial tasks, potentially reducing the need for manual bookkeeping.

Over the years, Tyler Perry has expanded his talents from filmmaking, television production, and writing. He established Tyler Perry Studios, one of the largest film production studios in the United States, located in Atlanta, in2006. Perrys films often explore themes of faith, family, and resilience, resonating strongly with Black audiences.

Some of Perrys notable films include: Diary of a Mad Black Woman (2005), Madeas Family Reunion (2006), Why Did I Get Married? (2007), and For Colored Girls (2010).

In addition to his film work, Perry has created successful television series such as Tyler Perrys House of Payne and The Haves and the Have Nots.

Now like so many others in an ever-changing industry impacted by changing technology, Perry will navigate changes brought on by AI.

Lauren Victoria Burke is an independent investigative journalist and the publisher of Black Virginia News. She is a political analyst who appears regularly on #RolandMartinUnfiltered. She can be contacted at[emailprotected]and on twitter at @LVBurke

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Industrial Automation Market to Receive Overwhelming Hike In Revenue That Will Boost Overall Industry Growth – EIN News

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Industrial Automation Market to Receive Overwhelming Hike In Revenue That Will Boost Overall Industry Growth  EIN News

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Lutra AI launches to make building automated AI workflows easy – SiliconANGLE News

Posted: December 9, 2023 at 1:58 pm

A new startup named Lutra AIlaunched today with a platform aimed at helping users create personal artificial intelligence workflows and automate repetitive tasks without the need for deep technical expertise.

Lutra is led by co-founder and Chief Executive Jiquan Ngiam, who previously worked at Google LLC and the online education provider Coursera Inc. He saw an opening to use AI to provide nontechnical users a path to build automation projects for tasks that can connect workflows.

The companys goal is to integrate AI with already existing tools such as Slack, Microsoft Outlook and Google Workspace to allow users to describe what they do day-to-day and have an AI assistant prepare a workflow for them. This could be something such as managing incoming emails, performing financial research or summarizing and extracting data from PDF documents for a reporting system thats done daily.

Ngiam said his time working at Coursera and Google gave him the insight that users needed something to simplify the process of automating workflows. So he got together with friends, including the companys co-founder Vijay Vasudevan, who also worked at Google, to look at AI models that could become assistants for nontechnical users by allowing them to use conversational English to describe what they need.

It made me think about the ability of these models to generate code and reasoning, then figure out the environment about making it more useful for non-engineers, Ngiam toldTechCrunch. There was this question about can these models now code in a way that interconnects all the software we use to then do very useful things for us reliably and securely.

What Lutra developed is a code-first AI assistant that allows users to describe their workflow and goals in natural language to an AI assistant, which will then ask follow-up questions to refine the automation. This means that essentially, its like talking to a coworker or developer who is writing code to connect apps to automate tasks.

The idea behind the AI assistant is to deliver an automated workflow to users as if they are programming in English. By describing the workflow that they want, the AI assistant guides them through the process and gives them visibility end-to-end in the code that it produces. Lutra says that because the AI models produce working software code for production-ready environments that connects enterprise data and apps, it can be done in a secure, reliable way.

Lutra recently raised $3.8 million in a seed funding round led by Coatue Ventures, with participation from Hustle Fund, Maven Ventures and a group of angel investors. The platform is currently in private beta as the team focuses on expanding it to more customers, but there is a waitlist for users interested in early access.

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AI meets materials science: the promise and pitfalls of automated discovery – VentureBeat

Posted: at 1:57 pm

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Last week, a team of researchers from the University of California, Berkeley published a highly anticipated paper in the journal Nature describing an autonomous laboratory or A-Lab that aimed to use artificial intelligence (AI) and robotics to accelerate the discovery and synthesis of new materials.

Dubbed a self-driving lab, the A-Lab presented an ambitious vision of what an AI-powered system could achieve in scientific research when equipped with the latest techniques in computational modeling, machine learning (ML), automation and natural language processing.

However, within days of publication, doubts began to emerge about some of the key claims and results presented in the paper.

Robert Palgrave is an inorganic chemistry and materials science professor at University College London. He has decades of experience in X-ray crystallography. Palgrave raised a series of technical concerns on X (formerly Twitter) about inconsistencies he noticed in the data and analysis provided as evidence for the A-Labs purported successes.

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In particular, Palgrave argued that the phase identification of synthesized materials conducted by the A-Labs AI via powder X-ray diffraction (XRD) appeared to be seriously flawed in several cases and that some of the newly synthesized materials were already discovered.

Palgraves concerns, which he aired in an interview with VentureBeat and a pointed letter to Nature, revolve around the AIs interpretation ofXRD data a technique akin to taking a molecular fingerprint of a material to understand its structure.

Imagine XRD as a high-tech camera that can snap pictures of atoms in a material. When X-rays hit the atoms, they scatter, creating patterns that scientists can read, like using shadows on a wall to determine a source objects shape.

Similar to how children use hand shadows to copy the shapes of animals, scientists make models of materials and then see if those models produce similar X-ray patterns to the ones they measured.

Palgrave pointed out that the AIs models didnt match the actual patterns, suggesting the AI might have gotten a bit too creative with its interpretations.

Palgrave argued this represented such a fundamental failure to meet basic standards of evidence for identifying new materials that the papers central thesis that 41 novel synthetic inorganic solids had been produced could not be upheld.

In a letter to Nature, Palgrave detailed a slew of examples where the data simply did not support the conclusions drawn. In some cases, the calculated models provided to match XRD measurements differed so dramatically from the actual patterns that serious doubts exist over the central claim of this paper, that new materials were produced.

Although he remains a proponent of AI use in the sciences, Palgrave questions whether such an undertaking could realistically be performed fully autonomously with current technology. Some level of human verification is still needed, he contends.

Palgrave didnt mince words: The models that they make are in some cases completely different to the data, not even a little bit close, like utterly, completely different. His message? The AIs autonomous efforts might have missed the mark, and a human touch could have steered it right.

Responding to the wave of skepticism, Gerbrand Ceder, the head of the Ceder Group at Berkeley, stepped into the fray with a LinkedIn post.

Ceder acknowledged the gaps, saying, We appreciate his feedback on the data we shared and aim to address [Palgraves] specific concerns in this response. Ceder admitted that while A-Lab laid the groundwork, it still needed the discerning eye of human scientists.

Ceders update included new evidence that supported the AIs success in creating compounds with the right ingredients. However, he conceded, a human can perform a higher-quality [XRD] refinement on these samples, recognizing the AIs current limitations.

Ceder also reaffirmed that the papers objective was to demonstrate what an autonomous laboratory can achieve not claim perfection. And upon review, more comprehensive analysis methods were still needed.

The conversation spilled back over to social media, with Palgrave and Princeton Professor Leslie Schoop weighing in on the Ceder Groups response. Their back-and-forth highlighted a key takeaway: AI is a promising tool for material sciences future, but its not ready to go solo.

Palgrave and his team plan to do a re-analysis of the XRD results, intending to produce a much more thorough description of what compounds were actually synthesized.

For those in executive and corporate leadership roles, this experiment is a case study in the potential and limitations of AI in scientific research. It illustrates the importance of marrying AIs speed with the meticulous oversight of human experts.

The key lessons are clear: AI can revolutionize research by handling the heavy lifting, but it cant yet replicate the nuanced judgment of seasoned scientists. The experiment also underscores the value of peer review and transparency in research, as expert critiques from Palgrave and Schoop have highlighted areas for improvement.

Looking ahead, the future involves a synergistic blend of AI and human intelligence. Despite its flaws, the Ceder groups experiment has sparked an essential conversation about AIs role in advancing science. Its a reminder that while technology can push boundaries, its the wisdom of human experience that ensures were moving in the right direction. This experiment stands as both a testament to AIs potential in material science and a cautionary tale. Its a rallying cry for researchers and tech innovators to refine AI tools, ensuring theyre reliable partners in the quest for knowledge. The future of AI in science is indeed luminous, but it will shine its brightest when guided by the hands of those who have a deep understanding of the worlds complexities.

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