All posts in "News"

Former AIB chief banks on AI as he takes on UK big four

David Duffy plans digital strategy to increase Clydesdale and Yorkshire market share

For David Duffy and the Clydesdale and Yorkshire banking group (CYBG) that he leads, the future is digital, with a capital ’B’.

B is the name of CYBG’s recently-launched current account, instant savings account and app that is designed to change how customers manage their money. Using artificial intelligence, it learns how your manage your money over time and builds the capability to warn you if you have insufficient funds in your account or to tell you about ways to avoid unnecessary charges.

It’s at the heart of CYBG’s plan to use digital as a means of attacking the market share of the four big banks in the UK – Barclays, HSBC, Lloyds and Royal Bank of Scotland.

On a trip to Dublin last week, Duffy told The Irish Times that customers could open an account with B in just 11 minutes. “It’s the fastest in the UK,” he boasted.

“We want to change the face of UK banking. It sounds grandiose but it’s not meant to be. Banking is a push-product, volume model that charges customers for a lot of things it shouldn’t. What if you create a customer-pull model in a relationship where technology is just servicing that model?”

Studio B is an offshoot of this brand – a physical hub that is designed to act as an incubator for new technologies, an advisory centre for retail and SME customers, while also providing transactional services, sometimes with tellers, sometimes not.

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IBM teams up with ABB to offer industrial AI IoT products

Suite of products will focus on manufacturing and smart grids

IBM is teaming up with engineering and manufacturing giant ABB to develop industrial artificial intelligence (AI) products for end users.

The new products will bring together ABB's Ability platform with IBM's Watson Internet of Things (IoT) cognitive capabilities, with the first two products focusing on "real-time cognitive insights" on the factory floor and in so-called smart grids.

IBM and Switzerland-based ABB hope that the new products will help companies to address some of their biggest industrial challenges, such as improving quality control, reducing downtime and increasing the speed and yield of industrial processes.

For example, the two technology companies want to use AI to help find defects using real-time production images that are captured through an ABB system, and then analysed using IBM Watson IoT for Manufacturing. They claimed that, previously, these inspections were done manually, which was often a cumbersome and error-prone process.

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AI Doctors On The Rise: British Startup Babylon Health Secures £50m For iOS & Android App

The startup looks to combine machine learning, with image and video conversations to create the perfect doctor

Robots doctors could very much be a reality in the not so distant future, as British startup Babylon Health is looking to create the perfect doctor through the use of machine learning.

Babylon Health has been working on a digital healthcare app that combines machine learning tech with video and text consultations with doctors and medical specialists to enable triage advice via a smartphone, which the company plans to roll fully roll out this year.

Having raised around an additional £50 million in funding, the startup now plans to plough the money into building out the artificial intelligence (AI) capabilities of its app so it can provide a deeper medical diagnostic to its users.

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IBM Watson: The Face of Watson

Uploaded on 10 Feb 2011

Preparing Watson for the Jeopardy! stage posed a unique challenge to the team: how to represent a system of 90 servers and hundreds of custom algorithms for the viewing public. IBM, in collaboration with a team of partners, created a representation of this computing system for the viewing audience -- from its stage presence to its voice.

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Artificial intelligence survey finds UK public broadly optimistic

Support for ‘machine learning’ depended on what it would be used for, with mass unemployment among main fears

Apart from fears of mass unemployment, accidents with machinery, restrictions on freedom, increased economic inequality and a devalued human experience, the public are broadly optimistic about the arrival of artificial intelligence, according to one of the first surveys of British opinions about the technology.

Research by the polling firm Ipsos Mori found nearly a third of people believe the risks of “machine learning” outweigh the benefits, while 36% believe the risks and benefits are balanced.

Machine learning is technology that underpins internet searches, recommendations on Amazon and Netflix, and voice recognition on smartphones.

The findings provide a snapshot of UK views on what some researchers regard as the early stages of a major revolution that is poised to affect almost every aspect of life.

The research suggests that – while people are generally positive about the technology for improving medical treatments, guiding driverless cars and personalising education – substantial concerns remain.

With machine learning, computers do not churn out answers by following hard and fast rules that are programmed into them. Instead, they are fed huge amounts of data from which they learn through trial and error.

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IBM’s Watson AI to help Wall Street firms catch rogue traders

By Cecile Borkhataria For Dailymail.com

PUBLISHED: 23:27 BST, 24 April 2017 | UPDATED: 23:29 BST, 24 April 2017

IBM is set to pilot its Watson technology for tracking down rogue traders at financial firms.

Watson gained fame by defeating a pair of ‘Jeopardy!’ champions, including 74-time winner Jennings, in 2011.

The new Watson Financial Services product will analyze emails, chats and trading data for suspicious activity.

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The future of AI: 10 scenarios IBM is already working on

While there's fear about artificial intelligence taking jobs or wiping out humanity, IBM sees the future in far more practical terms. It's using AI to assist human problem-solving.

By | March 23, 2017, 2:50 PM PST

Artificial intelligence has emerged as the hottest buzzword in tech‚—despite the fact that it's been around since the dawn of computing. Countless startups are now grabbing onto AI to explain what they do and tech marketers are branding with AI to make simple things like algorithms and basic machine learning sound a lot smarter and more sophisticated.

"AI is a ridiculously broad umbrella these days," said Michael Karasick, IBM Research's vice president of cognitive computing (IBM's fancy terms for AI).

Karasick gave a presentation at IBM InterConnect 2017 this week in Las Vegas where he laid out IBM Research's roadmap for AI. The approach of Karasick's team is ridiculously practical, since their mandate is to incubate technologies that could be useful to businesses. As you'd expect, a lot of things they're working on boil down to automation and big data.

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Why Bill Gates and others think the robot that steals your job should pay taxes

Artificial intelligence and robotics are poised to disrupt many industries and displace workers. Bill Gates and some European lawmakers believe those robots should be paying income tax.

It’s no secret that the robot revolution is coming, and certain jobs will undeniably be casualties. Once those jobs are taken over by robots, one question that arises is what happens to the income tax that used to come from the human employee. Microsoft founder Bill Gates thinks the answer is simple: Tax the robots.

In a recent Quartz video, Gates explained that if, for example, a human worker does $50,000 worth of work, that income is taxed. “If a robot comes in to do the same thing, you’d think that we’d tax the robot at a similar level,” Gates said in the video.

 

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The Singularity: AI will make humans sexier and funnier, says Google expert

Unlike a number of famous experts, Ray Kurzweil isn’t worried about artificial intelligence / Getty

‘We’re going to expand our minds and exemplify these artistic qualities that we value’

The much-heralded technological singularity will happen in 2029, according to Google’s director of engineering.

Ray Kurzweil, a futurist who has made a name for himself through his predictions, shared his thoughts about what’s in store for humans and machines in an interview with SXSW in Texas.

He believes that the so-called singularity – the moment when artificial intelligence exceeds man’s intellectual capacity and creates a runaway effect, which many believe will lead to the demise of the human race – is little over a decade away.

 

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AI robots learning racism, sexism and other prejudices from humans, study finds

Artificially intelligent robots and devices are being taught to be racist, sexist and otherwise prejudiced by learning from humans, according to new research.

A massive study of millions of words online looked at how closely different terms were to each other in the text – the same way that automatic translators use “machine learning” to establish what language means.

Some of the results were stunning.

 

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