Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘AI’

Robotization Without Taxation?

Posted by hkarner - 23. März 2017

Posted in Artikel | Verschlagwortet mit: , , , , | Leave a Comment »

Sorry, a Robot Is Not About to Replace Your Lawyer

Posted by hkarner - 20. März 2017

Date: 20-03-2017
Source: The New York Times

James Yoon, a partner at Wilson Sonsini Goodrich & Rosati in Palo Alto, Calif., says people are willing to pay for his experience. “What clients don’t want to pay for is any routine work.”

Impressive advances in artificial intelligence technology tailored for legal work have led some lawyers to worry that their profession may be Silicon Valley’s next victim.

But recent research and even the people working on the software meant to automate legal work say the adoption of A.I. in law firms will be a slow, task-by-task process. In other words, like it or not, a robot is not about to replace your lawyer. At least, not anytime soon.

“There is this popular view that if you can automate one piece of the work, the rest of the job is toast,” said Frank Levy, a labor economist at the Massachusetts Institute of Technology. “That’s just not true, or only rarely the case.”

An artificial intelligence technique called natural language processing has proved useful in scanning and predicting what documents will be relevant to a case, for example. Yet other lawyers’ tasks, like advising clients, writing legal briefs, negotiating and appearing in court, seem beyond the reach of computerization, for a while.

“Where the technology is going to be in three to five years is the really interesting question,” said Ben Allgrove, a partner at Baker McKenzie, a firm with 4,600 lawyers. “And the honest answer is we don’t know.”
Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , , , | Leave a Comment »

Supersmart Robots Will Outnumber Humans Within 30 Years, Says SoftBank CEO

Posted by hkarner - 3. März 2017

Date: 02-03-2017
Source: The Wall Street Journal

Futuristic forecast spurs investment wave from Japanese telecom company

koSoftBank CEO Masayoshi Son

BARCELONA—Within 30 years, artificial intelligence will be smarter than the human brain.

That is according to Masayoshi Son, chief executive of SoftBank Group Corp., who says that supersmart robots will outnumber humans and more than a trillion objects will be connected to the internet within three decades.

These beliefs underpin the wave of large and surprising deals the Japanese internet and telecommunications company has pulled off in the past year, he said Monday. These include starting a $100 billion technology-investment fund with a Saudi sovereign-wealth fund, buying British microprocessor designer ARM Holdings PLC for $32 billion and acquiring U.S. asset manager Fortress Investment Group PLC for $3.3 billion.

This 30-year forecast created urgency, Mr. Son said in a speech at the telecom industry’s biggest trade show, Mobile World Congress. “That is why I’m in a hurry to aggregate cash to invest.”

In a brief interview after his speech, Mr. Son said his $100 billion project with the Saudis, dubbed the SoftBank Vision Fund, was bigger than the $65 billion in combined investments from the venture-capital world. He said the SoftBank Vision Fund would be focused. “Artificial intelligence, Internet of Things, smart robots: Those are the three main things I’m interested in,” he said. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , , , , , , | Leave a Comment »

GOLDMAN SACKED: HOW ARTIFICIAL INTELLIGENCE WILL TRANSFORM WALL STREET

Posted by hkarner - 28. Februar 2017

Date: 27-02-2017
Source: NewsWeek
High-earning traders will quickly become an endangered species as AI takes over the financial sector.

Will The Wolves Of Wall Street Be Out Of A Job Soon?
For the past year, we as a society have been worried sick about artificial intelligence eating the jobs of 3 million truck drivers. Turns out that a more imminently endangered species are the Wall Street traders and hedge fund managers who can afford to buy Lamborghinis and hire Elton John to play their Hamptons house parties.

So maybe “hooray for AI” on this one?

Financial giants such as Goldman Sachs and many of the biggest hedge funds are all switching on AI-driven systems that can foresee market trends and make trades better than humans. It’s been happening, drip by drip, for years, but a torrent of AI is about to wash through the industry, says Mark Minevich, a New York-based investor in AI and senior adviser to the U.S. Council on Competitiveness. High-earning traders are going to get unceremoniously dumped like workers at a closing factory.

“It will really hit at the soul of Wall Street,” Minevich tells me. “It will transform New York.” Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , , , , | Leave a Comment »

Mapping the Future of AI

Posted by hkarner - 24. Februar 2017

Posted in Artikel | Verschlagwortet mit: , , , , , , | Leave a Comment »

An AI-Fueled Credit Formula Might Help You Get a Loan

Posted by hkarner - 16. Februar 2017

Date: 15-02-2017
Source: Technology Review

Startup ZestFinance says it has built a machine-learning system that’s smart enough to find new borrowers and keep bias out of its credit analysis.

Credit ratings have long been the key measure of how likely a U.S. consumer is to repay any loan, from mortgages to credit cards. But the factors that FICO and other companies that create credit scores rely on—things like credit history and credit card balances—often depend on having credit already.

In recent years, a crop of startup companies have launched on the premise that borrowers without such histories might still be quite likely to repay, and that their likelihood of doing so could be determined by analyzing large amounts of data, especially  data that has traditionally not been part of the credit evaluation. These companies use algorithms and machine learning to find meaningful patterns in the data, alternative signs that a borrower is a good or bad credit risk. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , , , , , , | Leave a Comment »

Will Hyper-Digitization Drive The Next Industrial Revolution?

Posted by hkarner - 23. Januar 2017

By on January 18, 2017  RGE EconoMonitor

The next wave of smart technologies—from the Internet of Things and wearables to robotics, and artificial intelligence—will boost worker productivity, reinvent business, and add trillions of dollars to worldwide GDP growth. Research recently conducted by Roubini ThoughtLab and Cognizant’s Center for the Future of Work estimates that these smarter technologies will turbo-boost the digital revolution and rewrite the next chapter in the story of business – how companies generate revenue, control costs, engage customers, and manage work.

Our study, The Work Ahead, reveals that companies are rapidly moving from the initial phase of digital transformation, spurred by SMAC technologies (social, mobile, analytics, cloud), to a second phase of hyper-digitization. In this next phase, which will carry us into the next decade, businesses will harness these smarter, game-changing technologies to become hyper-digitalized organizations that will enjoy leaps in revenue growth, cost savings, productivity and worker engagement. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , , , , , , , | Leave a Comment »

The Promise of Ethical Machines

Posted by hkarner - 17. Dezember 2016

Posted in Artikel | Verschlagwortet mit: , , , , , | Leave a Comment »

Artificial Intelligence Makes Strides, but Has a Long Way to Go

Posted by hkarner - 6. Dezember 2016

Date: 05-12-2016
Source: The Wall Street Journal

Creating systems that can be used for a variety of problems could take decades

Artificial intelligence is having a moment.

Startups that claim to be using AI are attracting record levels of investment. Big tech companies are going all-in, draining universities of entire departments. Nearly 140 AI companies have been acquired since 2011, including 40 this year alone.

AI is showing up in our everyday lives, as voice-recognition technology in our devices and image recognition in our Facebook and Google accounts.

Now, Google parent Alphabet Inc., Amazon.com Inc. and Microsoft Corp. are making some of their smarts available to other businesses, on a for-hire basis. Want to make your app or gadget respond to voice commands, and answer in its own “voice?” These services can do that. Need to transcribe those conversations so they can be analyzed? This new breed of services can do this and many other things, from face recognition to identifying objectionable content in images. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , | Leave a Comment »

How Artificial intelligence and Robots Will Radically Transform the Economy

Posted by hkarner - 2. Dezember 2016

Date: 01-12-2016
Source: NEWSWEEK

Next time you stop for gas at a self-serve pump, say hello to the robot in front of you. Its life story can tell you a lot about the robot economy roaring toward us like an EF5 tornado on the prairie.

Yeah, your automated gas pump killed a lot of jobs over the years, but its biography might give you hope that the coming wave of automation driven by artificial intelligence (AI) will turn out better for almost all of us than a lot of people seem to think.

The first crude version of an automated gas-delivering robot appeared in 1964 at a station in Westminster, Colorado. Short Stop convenience store owner John Roscoe bought an electric box that let a clerk inside activate any of the pumps outside. Self-serve pumps didn’t catch on until the 1970s, when pump-makers added automation that let customers pay at the pump, and over the next 30 years, stations across the nation installed these task-specific robots and fired attendants. By the 2000s, the gas attendant job had all but disappeared. (Two states, New Jersey and Oregon, protect full-service gas by law.)

That’s hundreds of thousands of jobs vaporized—there are now 168,000 gas stations in the U.S. The loss of those jobs was undoubtedly devastating for the individuals who had them, but the broader impact has been pretty positive for the rest of us. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , , , , , , | Leave a Comment »