19 October 2020HOW RECENT ADVANCEMENT IN AI HAS BEEN IMPACTING BUSINESSESBy Agustinus Nalwan, Head of AI and Machine Learning, carsalesWhat is AI? Artificial Intelligence (AI) has become a fundamental part of the technology industry and businesses are starting to reap the rewards of this function. Deep learning AI Recent advancement in AI technology, in particular, deep learning, enables businesses to solve problems that might have seemed impossible to solve previously. Businesses have seen profound impacts including improvement in operation efficiency, creation of new business opportunities and enhancements to customer experience.A couple of examples include: · Online retail companies use anomaly detection to scan millions of web log entries to identify an anomalous pattern that may suggest fraudulent activities. · Social media companies use object detection to identify the presence of offensive images and texts in users' posts to moderate online content automatically. · In the medical sector, Univfy, a California start up offers an IVF analytics service to predict the chance of success by analysing patient's lab tests such as BMI, age, fertility history and more. · Road and Transport Authorities in China optimise their traffic lights using reinforcement learning to reduce congestions by analysing traffic movement in the video footage obtained by cameras installed at various intersections in real time. ·Customer support centres automatically categorise support emails tailored to various departments and can auto-generate replies using NLP and text classification. Generative AI Generative AI is the latest breakthrough in AI techniques. What makes this type of AI special is the ability to learn a particular subject domain such as human faces, and then produce a totally new subject/face. In the media and entertainment industry, Amper Music and AIVA Technologies use generative AI to produce variations of music and can also generate new music based on the given style, mood and length. A pub using these tools to play music will no longer need to worry about paying expensive royalty fees to the music labels. One interesting use of Generative AI is Promethean AI, which allows game designers to automatically create 3D game scenes from a simple text description such as, "Create a nerdy, messy, '80s, teenager's bedroom". This is a game changer in the game development industry, as the CXO INSIGHTS
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