Among the latest technological advancements, Artificial Intelligence stands foremost. Deep learning and machine learning startups are blooming and their valuations are increasing more than ever due to increased demand for their solutions. Intellipaat is well familiar with this trend and is poised to teach Artificial Intelligence course in Bangalore with live online videos on the importance of such technologies to young budding professionals looking to enhance their careers.
AI and ML technology have been particularly useful in the healthcare industry because it generates massive amounts of data to train with and enables algorithms to spot patterns faster than human analysts.
- Medecision developed an algorithm that detects 8 variables in diabetes patients to determine if hospitalization is required.
- An app called BiliScreen utilizes a smartphone camera, ML tools, and computer vision algorithms to detect increased levels of bilirubin in the sclera (white portion) of a person’s eye, which is used to screen people for pancreatic cancer. This cancer has no telltale symptoms, hence it has one of the worst prognoses of all cancers.
- NuMedii, a biopharma company, has developed a platform called Artificial Intelligence for Drug Discovery (AIDD), which uses big data and AI to detect the link between diseases and drugs at the systems level.
- GNS Healthcare uses ML algorithms to match patients with the most effective treatments for them.
A familiar application of AI in everyday life is seen with services like Netflix or Amazon, wherein ML algorithms analyze the user’s activity and compare it with that of other users to determine which shows or products to recommend. The algorithms are becoming intelligent with time—to the extent of understanding that a user may want to buy a product as a gift and not for himself/herself, or that different family members have different watching preferences.
- Financial services companies use AI-based natural language processing tools to analyze brand sentiment from social media platforms and provide actionable advice.
- Investment companies like Aidya and Nomura Securities use AI algorithms to conduct trading autonomously and robot-traders to conduct high-frequency trading for greater profits, respectively.
- Fintech firms like Kensho and ForwardLane use AI-powered B2C Robo-advisors to augment rebalancing decisions and portfolio management performed by human analysts. Wealthfront uses AI algorithms to track account activity and help financial advisors customize their advice.
- Chatbots, powered by natural language processing, can serve banking customers quickly and efficiently by answering common queries and providing information promptly.
- Fraud detection is an important application of AI in financial services. For example, Mastercard uses Decision Intelligence technology to analyze various data points to detect fraudulent transactions, improve real-time approval accuracy, and reduce false declines.
4. Data security
Cyber attacks are becoming a growing reality with the move to a digital world. There are also concerns about AI programs themselves turning against systems.
- Automatic exploit generation (AEG) is a bot that can determine whether a software bug, which may cause security issues, is exploitable. If a vulnerability is found, the bot automatically secures it. AEG systems help develop automated signature generation algorithms that can predict the likelihood of cyberattacks.
- PatternEx and MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL) have developed an AI platform called AI2 which claims to predict cyber attacks better than existing systems. The platform uses Active Contextual Modeling, a continuous feedback loop between a human analyst and the AI system, to provide an attack detection rate that is better than ML-only solutions by a factor of 10.
- Deep Instinct, an institutional intelligence company, says that malware code varies between 2%-10% in every iteration and that its AI model is able to handle the variations and accurately predict which files are malware.
5. Automotive industry
- Tesla introduced TeslaBot, an intelligent virtual assistant integrated with Tesla models S and X, allows users to interact with their car from their phone or desktop.
- Uber AI Labs is working on developing self-driven cars with the help of the best engineers and scientists. Uber has already tested a batch of self-driving cars in 2016.
- Nvidia has partnered with Volkswagen to develop “intelligent co-pilot systems” in cars that will enable safety warnings, gesture control, and voice and facial recognition.
- Ericsson predicts that 5G technology will improve vehicle-to-vehicle communication wherein sensors will be implanted in airport runways, railways, and roads.