Industry leaders such as Blockbuster, Toys 'R' Us, Borders, and Pan Am all ignored warnings to pivot, then quickly failed to exist
Real Intelligence LLC, an authority on the dynamic American financial landscape, warns against behaviors that will lead uneducated and under-trained Financial Advisors into irrelevancy as AI rises
With the rise of zero-dollar commissions at custodians and low cost robo-advisors, the financial industry - and Financial Advisors - are at a competitive disadvantage to artificial intelligence. By 2030, an estimated 80 percent of heritage financial services companies will go out of business, struggle for relevance, fail to use technology to change their business model, or become commoditized.
Real Intelligence LLC, a financial services firm in Connecticut, is warning Financial Planners of this potential outcome plagued by technology enhancements, like robo-advisors. Real Intelligence, however, is executing a real-time solution that provides a patented dynamic mapping system in conjunction with human effort...
To succeed and fully understand the capabilities of artificial intelligence (AI), it's important to know and debunk the biggest myths about AI in business
"The market for AI is growing at an unprecedented rate. Market Watch released a report last year showing that the market size is growing about 55% a year over the course of the decade between 2016 and 2025.
The sudden growth of AI is not at all surprising. Businesses in all industries are starting to realize the potential AI (artificial intelligence) can bring to their sectors, strengthening decision-making while automating complex and time-consuming tasks..."
More and more problems are being solved by using machine learning tools. The use of machine learning solutions is spreading, and it is not limited to researchers
"Node.js is one of the most popular frameworks for writing server side applications now, and machine learning is rapidly gaining popularity...
Software developers are also starting to gain ML knowledge and skills. In this talk, Tamar Stern will give you an intro to machine learning in Node.js. Tamar Stern will go over some machine learning fundamentals, the useful libraries that you can work with when writing an ML server in Node.js, and architecture tips about how you should design your server according to the nature of machine learning systems combined with Node.js capabilities. After this session, you will have a good basis to get into the area of machine learning and how to write and design your server..."
While Robotic Process Automation makes plenty of sense for repetitive finance tasks, functions such as marketing, HR, and IT are also finding RPA use cases. Let's examine a few
"Finance is commonly mentioned as a business unit ripe with opportunities for Robotic Process Automation (RPA). It makes sense: RPA is often a fit for repetitive, high-volume, computer-based tasks. Finance is full of those, from invoice processing to financial reporting and plenty more.
When Gartner interviewed more than 150 corporate controllers last year about RPA, the vast majority (88 percent) said they expected to have some form of RPA implementation in place in 2020. By Gartner's count, a corporate finance department could save its accounting team around 25,000 hours of manual rework each year caused by human error each year in their financial reporting processes alone. That 25,000 hours of rework costs a company with a 40-person accounting team $878,000 annually, according to the research firm..."
Less than half of organizations have a privileged access management strategy in place for digital transformation technologies, like RPA, according to a CyberArk report
"The report provides practical recommendations from information security executives based on their first-hand experiences. They share key recommendations for how organizations can securely adopt RPA while mitigating potential risks, including:
- Limiting access for reprogramming robots - Reduce the risk that comes with RPA permissions - like the ability to reprogram robots - by securely managing credentials to RPA tools and training RPA teams on secure software development practices
Geoffrey Hinton, Yann LeCun, Yoshua Bengio- these three names don't need a separate introduction
"Best known as the godfathers of AI or godfathers of Deep learning, they came together during the 34th annual AAAI conference, speaking to a group of reporters about many AI-related topics, from ethics in the Artificial intelligence world and how to fix the flaws in the field. And these are the highlights of the entire discussion..."
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