Observations From L3C AI in Action: How Is Used
Without doubt AI has been propelled into the mainstream of business discussions and the boardroom. The convergence of processing power, ease of use frameworks and libraries, mathematical and data models, domain specific skills and knowledge, and lots and lots of data has enabled AI to become the next game changer in generating unprecedented acceleration in all kind of business initiatives.
As demand in general across the world continues to grow at unprecedented rates driven by people and society as a whole striving for enhanced wellbeing and prosperity, the supply side needs to find new ways to speed up the time to market of existing as well as new products/services. Additionally, better consumer awareness has led to demand for improved quality (e.g. reliability, safety, new features etc) and for products and services more tailored to their needs.
But how is AI really being used across industries and is it stepping up to the challenge?
At our recent L3C AI in ActIon conference industry leaders from finance, insurance, market information providers, HR and healthcare joined technology providers L3C, IBM, Microsoft, NVidia and Arrow to discuss with the audience at the Royal Institution, how AI was actually being used today, while legal experts Fieldfisher provided views on the legal implications.
From the full day discussion, where not a driverless car was in sight it was clear that AI is being used today to improve quality, speed, functionality of processes and products and drive top-line revenue growth.
We heard how in finance AI is being used today to drive better customer engagement with personalised offers; digital agents better directing enquiries to the correct person for immediate resolution; facial, voice and behavioural biometrics for smarter onboarding of clients. Robotic Process Automation is automating ledger reconciliations, while fraud detection and cybersecurity is being enhanced with AI and ML techniques.
While insurance, being driven by risk analysis, with extremes being the interest rather than the norm, is adapting models to use fewer assumptions, that are more data driven and to focus on extremities not the common averages.
In healthcare we saw how AI is being used to detect the onset of mental health issues and by enhancing care as we all grow a little older as well the Microsoft Seeing AI application. While Physitrack are enhancing the world of physiotherapy solutions and building a sustainable business.
Every organisation has data and the key is to adapt that data to use AI to drive competitive advantage. L3C AI Cloud, based on the market leading IBM Power9 and Nvidia Tesla and NVLink technologies provides a platform for companies and AI solution providers to develop and deploy AI models and solutions. A rich set of frameworks such as TensorFlow and Caffee and libraries such as Theano and Keras are precompiled and you can of course bring your own framework or library. Our team of experts provides support and guidance throughout.
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