Föhrenbergkreis Finanzwirtschaft

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Posts Tagged ‘AI’

What AI can and can’t do (yet) for your business

Posted by hkarner - 14. Januar 2018

Artificial intelligence is a moving target. Here’s how to take better aim.
Artificial intelligence (AI) seems to be everywhere. We experience it at home and on our phones. Before we know it—if entrepreneurs and business innovators are to be believed—AI will be in just about every product and service we buy and use. In addition, its application to business problem solving is growing in leaps and bounds. And at the same time, concerns about AI’s implications are rising: we worry about the impact of AI-enabled automation on the workplace, employment, and society.

A reality sometimes lost amid both the fears and the headline triumphs, such as Alexa, Siri, and AlphaGo, is that the AI technologies themselves—namely, machine learning and its subset, deep learning—have plenty of limitations that will still require considerable effort to overcome. This is an article about those limitations, aimed at helping executives better understand what may be holding back their AI efforts. Along the way, we will also highlight promising advances that are poised to address some of the limitations and create a new wave of opportunities.

The whole report: What-AI-can-and-cant-do-yet-for-your-business(1)

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Google and Others Are Building AI Systems That Doubt Themselves

Posted by hkarner - 10. Januar 2018

Date: 09-01-2018
Source: Technology Review

AI will make better decisions by embracing uncertainty.

The most powerful approach in AI, deep learning, is gaining a new capability: a sense of uncertainty.

Researchers at Uber and Google are working on modifications to the two most popular deep-learning frameworks that will enable them to handle probability. This will provide a way for the smartest AI programs to measure their confidence in a prediction or a decision—essentially, to know when they should doubt themselves.

Deep learning, which involves feeding example data to a large and powerful neural network, has been an enormous success over the past few years, enabling machines to recognize objects in images or transcribe speech almost perfectly. But it requires lots of training data and computing power, and it can be surprisingly brittle.

Somewhat counterintuitively, this self-doubt offers one fix. The new approach could be useful in critical scenarios involving self-driving cars and other autonomous machines. Den Rest des Beitrags lesen »

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2018 will be the year that big, incumbent companies take on big tech

Posted by hkarner - 7. Januar 2018

Date: 04-01-2018
Source: The Economist: Schumpeter

Conventional firms have at last got their technology act together

ACCORDING to Ginni Rometty, IBM’s boss, the digital revolution has two phases. In the first, Silicon Valley firms make all the running as they create new markets and eviscerate weak firms in sleepy industries. This has been the story until now. Tech firms have captured 42% of the rise in the value of America’s stockmarket since 2014 as investors forecast they will win an ever-bigger share of corporate profits. A new, terrifying phrase has entered the lexicon of business jargon: being “Amazoned”.

The second phase favours the incumbents, Ms Rometty believes, and is starting about now. They summon the will to adapt, innovate to create new, digital, products and increase efficiency. The schema is plainly self-serving. IBM is itself fighting for survival against cloud-based tech rivals and most of its clients are conventional firms. Yet she is correct that incumbents in many industries are at last getting their acts together on technology.

Enough time has elapsed for even the dopiest to see the threat. It is 11 years since Netflix began streaming video and five since Tesla unveiled the Model S. The evisceration by tech firms of some mid-sized businesses, such as department-store retail, has concentrated minds. Lagging share prices have helped. In 2017 Ford fired its boss, Mark Fields, despite near-record profits. Its board concluded he was complacent about technological change. Den Rest des Beitrags lesen »

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Google and Intel Beware: China Is Gunning for Dominance in AI Chips

Posted by hkarner - 5. Januar 2018

Date: 04-01-2018
Source: The Wall Street Journal

With more than 750 million people online, China provides plenty of consumers and data for firms to use

China is seeking to dominate the global market for processors that use artificial intelligence.

The silicon part of Silicon Valley needs to watch out. Competitors in China think it’s finally their turn to shine.

As the world’s largest market for semiconductors, China has tried mightily—without much success—to challenge the dominance of Intel Corp. and Qualcomm Inc. in making central processing units, the brains of computers and smartphones.

Now, some ambitious Chinese companies see an opportunity to take the lead in building processors that use artificial intelligence to make phones, cars and home appliances interact with us more seamlessly. Think of home air conditioners that can recognize family members and adjust to their temperature preferences. Den Rest des Beitrags lesen »

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The Great AI Paradox

Posted by hkarner - 27. Dezember 2017

Date: 25-12-2017
Source: Technology Review

Don’t worry about supersmart AI eliminating all the jobs. That’s just a distraction from the problems even relatively dumb computers are causing.

You’ve probably heard versions of each of the following ideas.

1. With computers becoming remarkably adept at driving, understanding speech, and other tasks, more jobs could soon be automated than society is prepared to handle.

2. Improvements in computers’ skills will stack up until machines are far smarter than people. This “superintelligence” will largely make human labor unnecessary. In fact, we’d better hope that machines don’t eliminate us altogether, either accidentally or on purpose. Den Rest des Beitrags lesen »

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Globalisation may soon accelerate again – time to get domestic policies right

Posted by hkarner - 20. Dezember 2017

Professor of International Economics, Graduate Institute, Geneva; President of CEPR; Vox Editor-in-Chief

Managing Director of the Research Institute of the Finnish Economy (ETLA)

Richard Baldwin, Vesa Vihriälä 19 December 2017, voxeu

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The new engine of change: CEOs

Posted by hkarner - 17. Dezember 2017

McKinsey Quarterly, Dec. 2017

Perhaps the most unique aspect of this technology trend is that digital transformation is being driven from the top, personally mandated by the CEO. This is something new.

In the past 70 years of computing, the world advanced from the vacuum tube to the transistor to the semiconductor, from mainframe computing to minicomputing to personal computing to the Internet. Software evolved from bespoke custom programming to on-premises, packaged enterprise application software and then to software as a service (SaaS)—cloud-resident solutions. Among the fruits: increased productivity and profitability, a lower cost of operation, and economic growth.

I witnessed many of these tech-adoption cycles over the past 30 years. With the promise of performance improvements and productivity increases, such innovations were introduced to industry through the IT organization. Over months or years, and after multiple trials and evaluations, each gained the attention of the chief information officer, who was responsible for technology adoption. The CEO was periodically briefed on the cost and result. Den Rest des Beitrags lesen »

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Automatic Job Storm Coming

Posted by hkarner - 10. Dezember 2017

The monthly jobs report isn’t like that. Yes, any single month doesn’t tell us much. Yes, the Labor Department’s methodology has some flaws, both major and minor. But imperfect as it is, the jobs report is our best look at the economy’s pulse. Jobs matter in a visceral way to almost all of us, as you know well if you’ve ever lost one. Almost any survey that asked questions around employment would reveal the angst that many Americans feel about the possibility of losing their jobs.

Right now, automation tops the list of things that might threaten our jobs. Artificial intelligence and robotics technology are rapidly learning to do what human workers do, but better, faster, and cheaper.

I’ve use the following chart before, but it’s a compelling illustration of how technology is reducing employment. It shows the rising rig count in the oil patch since mid-2016 – and yet the number of workers on those rigs is actually still falling. This is the impact of a new robot called an iron roughneck: Tasks that used to require 20 people now need only five. And the iron roughneck is not even that widely deployed in the oil and gas industry – the trend will hit hard in the coming decade. Roughneck jobs are relatively high-paying; it takes a great deal of training and skill to be able to do them. Den Rest des Beitrags lesen »

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Hedge funds embrace machine learning—up to a point

Posted by hkarner - 9. Dezember 2017

Date: 07-12-2017
Source: The Economist

In investing, more artificial intelligence need not mean less of the human kind

ARTIFICIAL intelligence (AI) has already changed some activities, including parts of finance like fraud prevention, but not yet fund management and stock-picking. That seems odd: machine learning, a subset of AI that excels at finding patterns and making predictions using reams of data, looks like an ideal tool for the business. Yet well-established “quant” hedge funds in London or New York are often sniffy about its potential. In San Francisco, however, where machine learning is so much part of the furniture the term features unexplained on roadside billboards, a cluster of upstart hedge funds has sprung up in order to exploit these techniques.

These new hedgies are modest enough to concede some of their competitors’ points. Babak Hojdat, co-founder of Sentient Technologies, an AI startup with a hedge-fund arm, says that, left to their own devices, machine-learning techniques are prone to “overfit”, ie, to finding peculiar patterns in the specific data they are trained on that do not hold up in the wider world. This is especially true of financial data, he says, because of their comparative paucity. Share-price time series going back decades still contain far less information than, say, the image data used to train Facebook’s facial-recognition algorithms. Den Rest des Beitrags lesen »

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Europe’s Chance to Lead on Robotics and AI

Posted by hkarner - 8. Dezember 2017

Guy Verhofstadt

Artificial intelligence could be either the best or the worst thing that ever happened to mankind. To prepare for the profound changes to lives and livelihoods that lie ahead, the European Union should start establishing rules to protect all Europeans – and give the rest of the world a model to follow.

BRUSSELS – At least since Mary Shelley created Victor Frankenstein and his iconic monster in 1818, humans have had a morbid fascination with man-made beings that could threaten our existence. From the American television adaptation of “Westworld,” which depicts an amusement park populated by androids, to the “Terminator” films, in which super-intelligent machines aim to destroy mankind, we often indulge the paranoid fantasy that our own technological creations might turn on us. Den Rest des Beitrags lesen »

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