10 hours ago | Venture BeatAI Weekly: Watson Health and semi-autonomous driving failures show the dangers of overpromising AI
This week in AI, reality came knocking — both for AI health tech and semi-autonomous driving systems. IBM agreed to sell the assets from its Watson Health business to investment firm Francisco Partners, following the division’s steeply declined performance. Meanwhile, the Insurance Institute for Highway Safety (IIHS), a nonprofit financed by the insurance industry, announced a new ratings program designed to evaluate how well “partial” automation systems like Tesla’s Autopilot provide protections to prevent misuse. The twin developments are emblematic of the AI industry’s perennial problem: acknowledging AI’s limitations. Slate’s Jeffrey Funk and Gary Smith do a thorough job of recapping overly optimistic AI predictions in recent years, including Ray Kurzweil’s pronouncement that computers will have “human-level” intelligence and “the ability to tell a joke, to be funny, to be romantic, to be loving, to be sexy” by 2029.
15 hours ago | AI NewsDeepMind co-founder Mustafa Suleyman departs Google
DeepMind co-founder Mustafa Suleyman has departed Google after an eight-year stint at the company. Suleyman co-founded AI giant DeepMind alongside Demis Hassabis and Shane Legg in 2010 before it was acquired by Google in 2014 for $500 million. DeepMind has become somewhat of an AI darling and has repeatedly made headlines for creating neural networks... Read more » The post DeepMind co-founder Mustafa Suleyman departs Google appeared first on AI News.
15 hours ago | MIT NewsComputing for ocean environments
MIT ocean and mechanical engineers are using advances in scientific computing to address the ocean’s many challenges, and seize its opportunities.
18 hours ago | Venture BeatAI models are becoming better at answering questions, but they’re not perfect
Let the OSS Enterprise newsletter guide your open source journey! Sign up here.Late last year, the Allen Institute for AI, the research institute founded by the late Microsoft cofounder Paul Allen, quietly open-sourced a large AI language model called Macaw. Unlike other language models that’ve captured the public’s attention recently (see OpenAI’s GPT-3), Macaw is fairly limited in what it can do, only answering and generating questions. But the researchers behind Macaw claim that it can outperform GPT-3 on a set of questions, despite being an order of magnitude smaller.Answering questions might not be the most exciting application of AI. But question-answering technologies are becoming increasingly valuable in the enterprise. Rising customer call and email volumes during the pandemic spurred businesses to turn to automated chat assistants — according to Statista, the size of the chatbot market will surpass $1.25 billion by 2025. But chatbots and other conversational AI technologies remain fairly rigid, bound by the questions that they were trained on.
18 hours ago | MIT NewsSeeing into the future: Personalized cancer screening with artificial intelligence
Scientists demonstrate that AI-risk models, paired with AI-designed screening policies, can offer significant and equitable improvements to cancer screening.
19 hours ago | Venture BeatHow Anonybit plans to crack honeypots storing identity data
Here’s one way to protect personal and business biometric data so that bad guys can’t find it and make money off it: Don’t store it all in one honeypot – whether it’s a primary or backup database.Startup Anonybit, which launched on Tuesday and announced a $3.5 million Series A funding round, has developed what it calls a “breakthrough decentralized biometrics infrastructure” that it claims addresses a market need for improved management of personal data and digital assets across a wide range of vertical industries.This is not a purely SaaS or on-premises security solution. Anonybit dices up sensitive identity data, including biometrics, private keys, and other digital assets, into anonymized bits that are distributed throughout a peer-to-peer network of nodes. The system then applies multi-party computing in a proprietary, patented manner in order to reconnect the bits in a decentralized way. In this way, there is never any identity data for hackers to use for creating false credentials.
Jan 20, 2022 | MIT NewsScientists make first detection of exotic “X” particles in quark-gluon plasma
The findings could redefine the kinds of particles that were abundant in the early universe.
Jan 20, 2022 | Venture BeatDiversio focuses on AI-enabled diversity, equity, inclusion framework, gets $6.5M
Diversio, a New York-based data-driven people intelligence platform that measures, tracks, and improves diversity, equity, and inclusion (DEI) for organizations, today announced it raised $6.5M.Diversio claims it combines AI, advanced data analytics, and knowledgeable subject matter expertise to accurately diagnose an organization’s DEI pain points, benchmark against peers, and create robust action plans to improve diversity, equity, and inclusion.Diversio founder and CEO Laura McGee told VentureBeat in a chat that the company developed a set of “inclusion metrics” that are academically validated to reflect an inclusive employee experience. McGee said its proprietary Inclusion Score framework includes things like inclusive culture, fair management, and a safe work environment.
Jan 20, 2022 | AI NewsAI bias harms over a third of businesses, 81% want more regulation
AI bias is already harming businesses and there’s significant appetite for more regulation to help counter the problem. The findings come from the State of AI Bias report by DataRobot in collaboration with the World Economic Forum and global academic leaders. The report involved responses from over 350 organisations across industries. Kay Firth-Butterfield, Head of... Read more » The post AI bias harms over a third of businesses, 81% want more regulation appeared first on AI News.
Jan 19, 2022 | Venture BeatMcKinsey donates machine learning pipeline tool Kedro to the Linux Foundation
Let the OSS Enterprise newsletter guide your open source journey! Sign up.The Linux Foundation, the nonprofit consortium that provides a vendor-neutral hub for open source projects. today announced that McKinsey’s QuantumBlack will donate Kedro, a machine learning pipeline tool, to the open source community. The Linux Foundation will maintain Kedro under Linux Foundation AI & Data (LF AI & Data), an umbrella organization founded in 2018 to bolster innovation in AI by supporting technical projects, developer communities, and companies.“We’re excited to welcome the Kedro project into LF AI & Data. It addresses the many challenges that exist in creating machine learning products today and it is a fantastic complement to our portfolio of hosted technical projects,” Ibrahim Haddad, executive director of LF AI & Data, said. “We look forward to working with the community to grow the project’s footprint and to create new collaboration opportunities with our members, hosted projects and the larger open-source community.”
Jan 19, 2022 | Venture BeatReport: 92% of IT decision-makers think process automation is ‘vital’
According to a new report by Camunda, more than nine in 10 (92%) IT decision-makers describe process automation as a vital element of digital transformation. The same percentage considers process automation critical to achieving business optimization and efficiency, and to helping them free up employees to take on more complex, strategic jobs. They support increases in investment in process-related technologies and expect their organizations to put a higher priority on applying automation across operations, revealing that process automation is taking on an increasingly important role in their organizations.However, the survey also shows the fact that organizations continue to face challenges in their efforts to leverage process automation to its full potential. Just 12% of respondents say they’ve been implementing process automation as planned this year, citing a reliance on outmoded technology, lack of knowledge of how to get started, and confusion over industry terms such as hyperautomation and robotic process automation (RPA). And while increased investment is a positive indicator for continued progress, in order to maximize the impact of this investment, organizations must focus on overcoming the challenges that continue to limit even further success.
Jan 19, 2022 | AI NewsWhy AI needs human intervention
In today’s tight labour market and hybrid work environment, organizations are increasingly turning to AI to support various functions within their business, from delivering more personalized experiences to improving operations and productivity to helping organizations make better and faster decisions. That is why the worldwide market for AI software, hardware, and services is expected to... Read more » The post Why AI needs human intervention appeared first on AI News.
Jan 19, 2022 | Venture Beat5 ways AI and ML will improve cybersecurity in 2022
Cyberattacks are happening faster, targeting multiple threat surfaces simultaneously using a broad range of techniques to evade detection and access valuable data. A favorite attack strategy of bad actors is to use various social engineering, phishing, ransomware, and malware techniques to gain privileged access credentials to bypass Identity Access Management (IAM) and Privileged Access Management (PAM) systems.Once in a corporate network, bad actors move laterally across an organization, searching for the most valuable data to exfiltrate, sell, or use to impersonate senior executives. IBM found that it takes an average of 287 days to identify and contain a data breach, at an average cost of $3.61M in a hybrid cloud environment. And when ransomware is the attack strategy, the average cost of a data breach skyrockets to $4.62M.
Jan 19, 2022 | Venture BeatStructionSite raises $10 million to apply AI to construction project management
After sustaining a major blow from a pandemic-ravaged economy, the global construction industry has come roaring back. On the commercial side, while the demand for new office space remains tepid, retailers are investing significant capital in logistics infrastructure, like warehouses. On the residential side, the segment is continuing to add jobs thanks to the housing boom — recovering over 80% of the jobs lost over the course of the pandemic as of March 2021.The industry faces a new set of challenges, however, including the rising cost of raw materials. Project management remains one of the most difficult aspects of construction, with recent studies finding that construction projects exceed their budget by 16% at a minimum (and often far more). Beyond budget, project managers run up against poorly-defined objectives, poor time management, labor shortages, and unrealistic expectations from stakeholders. One study focused on Saudi Arabia’s construction industry found that 70% of projects took longer than expected to complete.
Jan 19, 2022 | Venture BeatAmbient’s computer vision detects dangerous behaviors, but raises privacy concerns
Computer vision, a technology that uses algorithms to “see” and evaluate objects, people, and events in the real world, is a rapidly expanding market within the broader AI sector. That’s because the applications are practically limitless, ranging from agricultural crop monitoring to medical diagnostics and driverless vehicle testing. Allied Market Research anticipates that computer vision product vendors will be worth a combined $144.46 billion by 2028.Digital transformation in the enterprise, spurred by the pandemic, has further accelerated the growth. For example, Zebra Medical Vision, a computer vision startup focused on health care, was acquired in August 2021 in a deal worth $200 million. Meanwhile, Landing AI has secured tens of millions for its visual inspection dashboards that enable engineers to train, test, and deploy computer vision to devices such as laptops.
Jan 19, 2022 | Venture BeatCapacity, which taps AI to automate customer service response, raises $16M more
As pandemic headwinds beset brands, they’ve had to deal with increasing customer service challenges ranging from providing a consistent experience during digital transformations to scaling service teams in response to influxes in support requests. Businesses are under pressure to perform — a Harvard Business Review report found that customers who had the best past experiences with a brand spend 140% more compared with those who had the poorest. Moreover, nearly three out of five consumers say that good customer service is vital for them to feel loyalty toward a brand.Disorganization behind the scenes threatens to exacerbate the challenges in customer service, however. Forty-two percent of service agents told Aspect in a recent survey that they’re unable to efficiently resolve customer issues due to disconnected systems, archaic user interfaces, and multiple applications. Improvements to these call center systems is a logical solution — doing so can theoretically boost the productivity of agents. But so is adding a self-service option. A separate study from Accenture found that companies like utilities, which see many requests a day about the same topics, could realize $1 million to $3 million in annual savings from adding self-service.
Jan 19, 2022 | Venture BeatTuring Labs lands $16.5M to bring AI to product formulation
The consumer packaged goods (CPG) industry has struggled to grow over the past decade. That’s partly because companies have tended not to economize when it comes to R&D spending. For example, producers of home and personal care goods surveyed by Accenture in 2014 on average invested 2.3% of their total revenue in R&D. Yet according to IRI, most new CPG products fail to capture more than $10 million in sales in their first year.The declining cost of computing, however, promises to improve product design, prototyping, and testing — particularly with the explosive growth of cloud computing. These trends have catalyzed the launch of startups like Turing Labs, which are applying AI to assist CGP companies with product design and formulation. Investors believe in their potential — Turing today announced that it raised $16.5 million in venture capital, bringing its total raised to over $18.25 million.
Jan 19, 2022 | Venture BeatPersonetics, an AI-powered customer engagement and insights platform for banks, raises $85M
Personetics, an AI-powered platform used by some of the world’s biggest banks to issue tailored advice and insights to customers, has raised $85 million.As banks and financial institutions grapple with digital transformation in a world that has rapidly transitioned to online-first, knowing how to engage with customers and stay ahead of the competition is perhaps more vital than ever — this is where Personetics enters the fray with a data-driven approach to delivering personalized customer engagement.“Banks are increasingly moving from a passive to a proactive relationship with customers, and looking for new ways to help them improve their financial well-being,” Personetics cofounder and CEO David Sosna told VentureBeat. “They are sitting on a wealth of data that can allow them to anticipate their customers’ needs, and Personetics’ AI helps them turn this into personalized insights.”
Jan 18, 2022 | MIT NewsWhen should someone trust an AI assistant’s predictions?
Researchers have created a method to help workers collaborate with artificial intelligence systems.
Jan 18, 2022 | Venture BeatReport: How AI and ML optimize the diagnosis process in health care
A new report by CSA reveals that rapid developments in AI, ML, and data mining have allowed technology and health care innovators to create intelligent systems in order to optimize and improve the diagnosis process, quickly capturing unforeseen patterns within complex and large datasets.According to the Agency for Healthcare Research and Quality, 10% of patient deaths are a direct consequence of misdiagnosis. By using AI and ML, health care service providers can improve the precision of each diagnosis. Medical diagnostics using AI and ML are rapidly expanding, and automation is increasingly helping to detect life-threatening conditions in their earliest stages.For example, ML helps oncologists not only pinpoint the location of a tumor, but can also accurately determine if it’s malignant or benign in milliseconds. Although computer-based predictions aren’t error-free, new research has indicated that its accuracy of classification hovers around 88%. ML can also aid oncological diagnosis and treatment by improving the precision of blood and culture analysis, mapping the diseased cells, flagging areas of interest, and creating tumor staging paradigms.
Jan 18, 2022 | Venture BeatWhy games may not be the best benchmark for AI
In 2019, San Francisco-based AI research lab OpenAI held a tournament to tout the prowess of OpenAI Five, a system designed to play the multiplayer battle arena game Dota 2. OpenAI Five defeated a team of professional players — twice. And when made publicly available, OpenAI Five managed to win against 99.4% of people who played against it online.OpenAI has invested heavily in games for research, developing libraries like CoinRun and Neural MMO, a simulator that plops AI in the middle of an RPG-like world. But that approach is changing. According to a spokesperson, OpenAI hasn’t been using games as benchmarks “as much anymore” as the lab shifts its focus to other domains, including natural language processing.
Jan 18, 2022 | Venture BeatProton.ai raises $20M to optimize wholesale distributors’ sales operations
During the pandemic, sales teams have been stretched by the resource-intensive transition to digital. To bridge the gaps in service, some enterprises are adopting AI and automation technologies — to great success. According to a McKinsey survey, 79% of respondents agree that AI adoption in marketing and sales has helped to increase business revenue. Even before the pandemic, according to sales leaders, AI adoption in sales was expected to grow by 155% in 2020, according to a 2018 Salesforce report.A number of vendors offer AI-powered sales solutions tailored to particular industries. One rising to prominence is Proton.ai, which offers tools for wholesale distributors to help sales reps and customers navigate managing products across channels. Founded in 2018 by Benjamin Cohen, Proton connects distributors’ customer, product, and transactional data, analyzing the data with machine learning models to provide sales recommendations.
Jan 18, 2022 | Venture BeatVectice raises $12.6M to help enterprises document their data science assets
Spurred by its revenue-boosting potential, companies are increasingly embracing AI technologies across their organizations. Harris Poll, working with Appen, found that 55% of businesses accelerated their AI strategies in 2020 due to the pandemic. But a data science skills gap threatens to stymie progress. In a recent O’Reilly report, a lack of skilled people topped the list of challenges in AI, with 19% of respondents citing it as a “significant” barrier.The skills gap isn’t the only barrier standing in the way of AI deployment. Data scientists at companies don’t always have sufficient documentation, or a platform that makes their experiments reproducible and data assets discoverable. Likewise, managers sometimes lack a way to automate reporting or facilitate data science project reviews and processes. According to O’Reilly, holistic solutions for metadata creation and management, data provenance, and data lineage are uncommon even among companies implementing AI systems.
Jan 18, 2022 | Venture BeatServiceNow’s new AI-powered service aims to support digital transformation efforts
Digital transformation — the adoption of digital technologies, broadly speaking — is accelerating in the enterprise. In 2020, worldwide spending on digital transformation reached $1.3 trillion, growing at a 10.4% rate year-on-year, according to Statista. The benefits of digital transformation can be substantial, with McKinsey estimating that transformation with a focus on customer experience can generate a 20% to 30% increase in customer satisfaction. But it’s also fraught with challenges. A 2018 Everest Group study found that 73% of enterprises fail to derive any business value whatsoever from their digital transformations.The reasons for failure in digital transformation range from a lack of upfront commitment to overly technical approaches. Regardless, companies are looking to maximize their investment in new talent and technologies as the pandemic drives business online. A recent WalkMe report found that 42% of organizations rate the lack of technical knowledge and skills as their number one barrier to successful digital transformation, underlining the hurdles to overcome.
Jan 18, 2022 | Venture BeatClockwise raises $45M to help employees better manage time
To state the obvious, the shift from in-office to remote and hybrid work hasn’t been easy for organizations. While the majority of workers say they prefer the emerging hybrid remote-office models, some managers complain of growing challenges with time management and productivity. The empirical evidence on this is mixed, but other problems cut across remote, hybrid, and in-person work. One study of U.K. office workers found that workers spend up to two hours per day browsing through their email inbox.Growing awareness around workplace productivity has fueled a market for time management apps that could be worth $4.55 billion by 2026, according to Fortune Business Insights. Platforms like Woven, ReclaimAI, and Tempo tap AI and automation to optimize workers’ calendars and cut down on wasteful work. So does Clockwise, which today announced that it raised $45 million, bringing the company’s total capital raised to $76 million.
End of News List
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