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This A.I. Bot Writes Such Convincing Ads, Chase Just ‘Hired’ It to Write Marketing Copy

Here are two headlines. One was written by a human. One was written by a robot. Can you guess which?

  • Access cash from the equity in your home. Take a look.

  • It’s true–You can unlock cash from the equity in your home. Click to apply.

Both lines of marketing copy were used to pitch home equity lines of credit to JPMorgan Chase customers. The second garnered nearly twice as many applications, according to the Wall Street Journal. It was generated by Persado’s artificial intelligence tool.

This is why Chase just signed a five-year deal with Persado Inc., a software company that uses artificial intelligence to tweak marketing language for its clients. After a trial period with the company, Chase has found Persado’s bot-generated copy incredibly effective. “Chase saw as high as a 450 percent lift in click-through rates on ads,” Persado said in a statement.

That email might have been written by a bot.

Chase says it will use Persado’s tool to rewrite language for email promotions, online ads, and potentially snail mail promotions. It’s also looking into using the tool for internal communications and customer service communications.

When asked if this might lead to downsizing, a Chase spokesperson told AdAge: “Our relationship with Persado hasn’t had an impact on our structure.”

Persado’s tool starts with human-written copy and analyzes it for six elements (narrative, emotion, descriptions, calls-to-action, formatting, and word positioning). It then creates thousands of combinations by making tweaks to those elements.

Kristin Lemkau, chief marketing officer at JPMorgan Chase, is fully on board with Persado. Chase began experimenting with its software three years ago. Sometimes the tool would recommend a wordier headline, which goes against marketing 101. But that longer headline garnered more clicks.

“They made a couple of changes that made sense and I was like, ‘Why were we so dumb that we didn’t figure that out?'” she told the Journal.

By: Betsy Mikel Owner, Aveck @BetsyM

Source: This A.I. Bot Writes Such Convincing Ads, Chase Just ‘Hired’ It to Write Marketing Copy

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The Amazing Ways Dubai Airport Uses Artificial Intelligence

As one of the world’s busiest airports, (ranked No. 3 in 2018 according to Airports Council International’s world traffic report), Dubai International Airport is also a leader in using artificial intelligence (AI). In fact, the United Arab Emirates (UAE) leads the Arab world with its adoption of artificial intelligence in other sectors and areas of life and has a government that prioritizes artificial intelligence including an AI strategy and Ministry of Artificial Intelligence with a mandate to invest in technologies and AI tools.

AI Customs Officials

The Emirates Ministry of the Interior said that by 2020, immigration officers would no longer be needed in the UAE. They will be replaced by artificial intelligence. The plan is to have people just walk through an AI-powered security system to be scanned without taking off shoes or belts or emptying pockets. The airport was already experimenting with a virtual aquarium smart gate. Travelers would walk through a small tunnel surrounded by fish. While they looked around at the fish that swim around them, cameras could view every angle of their faces. This allowed for quick identification.

AI Baggage Handling

Tim Clark, the president of Emirates, the world’s biggest long-haul carrier, believes artificial intelligence, specifically robots, should already be handling baggage service including identifying them, putting the bags in appropriate bins and then taking them out of the aircraft without any human intervention. He envisions these robots to be similar to the automation and robotics used at Amazon.com’s warehouses.

Air Traffic Management

In a partnership with Canada-based Searidge Technologies, the UAE General Civil Aviation Authority (GCAA) is researching the use of artificial intelligence in the country’s air traffic control process. In a statement announcing the partnership in 2018, the director-general of the GCAA confirmed that it is UAE’s strategy to explore how artificial intelligence and other new technologies can enhance the aviation industry. With goals to optimize safety and efficiency within air traffic management, this is important work that could ultimately impact similar operations worldwide.

Automated Vehicles

Self-driving cars powered by artificial intelligence and 100% solar or electrical energy will soon be helping the Dubai Airport increase efficiency in its day-to-day operations, including improvements between ground transportation and air travel. Imagine how artificial intelligence could orchestrate passenger movement from arrival to the airport to leaving your destination’s airport. In the future, autonomous vehicles (already loaded with your luggage) could meet you at the curb. Maybe AI could transform luggage carts to act autonomously to get your luggage to your hotel or home, eliminating any need for baggage carousels and the hassle of dealing with your luggage.

While much attention is given to the process of vetting passengers to ensure safe air travel, artificial intelligence can also improve the staff clearance process. Some airports see the most significant security threat airports, and airlines face is with airport personnel. An EgyptAir mechanic, baggage handler and two police officers were arrested in connection with the bombing of Metrojet Flight 9268 where all 224 people on board died. There have been several arrests in Australia of border force officers linked to international drug smugglers. Part of these efforts to improve the staff clearance process includes enhancing staff entrances to enable greater control with biometrics, advanced facial recognition and the use of artificial intelligence rather than just CCTV cameras and police monitoring which is used now. Artificial intelligence can look for areas of concerns with a staff member’s behavior and record for crime and violence even before they are hired. After they are hired, AI algorithms can continue to look for changes that could indicate a security problem.

AI Projects Being Explored for the Future

Emirates is developing AI projects in its lab at the Dubai Future Accelerators facility. Some of these include using AI to assist passengers when picking their onboard meals, scheduling a pickup by a taxi as well as personalizing the experience of every Emirates passenger throughout the entire journey. They are also exploring how AI can help Emirates teach cabin crew. We can expect that artificial intelligence will be put to work to solve the problems of airplane boarding by looking at the issue in a way humans have been unable to. The goal would be for AI to architect a queue-less experience.

AI at Other Airports

The first biometric airport terminal is already running at the Hartsfield-Jackson Atlanta International Airport, and a similar system is running at Dubai International Airport for first- and business-class passengers. Here are some other ways airports and airlines around the world are using artificial intelligence or plan to:

·         Cybersecurity: Airports and airlines have shifted from identifying cybersecurity to preventing cybersecurity threats with an AI assist in response to the expansion of digitalization across aviation.

·         Immersive experiences: Augmented reality might be the future of helping travelers find their way through an airport.

·         Voice recognition technology: At Heathrow Airport, passengers can already ask Alexa to get flight updates. United Airlines allows travelers to check in to their flight through Google Assistant by simply stating, “Hey Google, check in to my flight.”

As innovation gets pushed by the UAE, Dubai International Airport and other technology innovators around the world, there will be opportunities for abuse and privacy considerations when using these new AI tools and capabilities for air travel. But, if artificial intelligence can remove the biggest headaches from travel, some people (possibly most) will be more than ready to exchange a bit of privacy for a better experience when AI takes over.

 

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Bernard Marr is an internationally best-selling author, popular keynote speaker, futurist, and a strategic business & technology advisor to governments and companies. He helps organisations improve their business performance, use data more intelligently, and understand the implications of new technologies such as artificial intelligence, big data, blockchains, and the Internet of Things. Why don’t you connect with Bernard on Twitter (@bernardmarr), LinkedIn (https://uk.linkedin.com/in/bernardmarr) or instagram (bernard.marr)?

Source: The Amazing Ways Dubai Airport Uses Artificial Intelligence

How AI Is Revolutionizing Healthcare

Great strides are being made by AI in the healthcare sector. The AI market in healthcare is due to increase tenfold by 2025, becoming a $13 billion industry, according to Global Market Insights. But currently, advances are generally tied to frontline medicine, rather than back-office administrative and finance functions. “Most of the machine learning and artificial intelligence gains we’re seeing right now are on the clinical and diagnostic sides,” explains Brian Sanderson, National Managing Principal of Healthcare Services at the accounting, consulting and technology firm Crowe.

But there’s a value opportunity to be gained from harnessing machine learning and AI beyond the bedside, too. It’s one that can help hospitals save money on administration and allow health system leadership to focus more on what should be at the core of everything they do: keeping people healthy. While the revolution is well underway in frontline medicine, hospital administrators are just beginning to recognize the power and applications of AI. Here, explore three areas of back-office healthcare where the chance for revolution, aided by AI, is ripe: exceptions management, hospital administration and revenue cycle operations.

1. Exceptions Management: Reducing Errors All Around

For decades, hospital business office personnel have been attempting to recognize, resolve and prevent billing exceptions, i.e. claims that did not smoothly complete the payment cycle. But with machine learning and AI, it’s possible to put actual computing power to work spotting patterns that even the most skilled humans cannot.

Working with a large health system, Crowe used AI to analyze a large health system’s credit balances — patient accounts that did not resolve to zero. “They had anomalies, and they had exceptions,” says Sanderson. “There shouldn’t be any if your manufacturing process is running correctly.” The system had 17 people working on resolving and processing credit exceptions.

As soon as Crowe put AI on the case, it discovered that a single compliance issue was occurring thousands of times per month. “We found 16,000 of them by using AI, and were able to turn it off and fix it,” says Sanderson. “Suddenly 16,000 exceptions stop coming.”

“Cost-driven automation,” as Sanderson calls it, is a transformative innovation for the healthcare space.

2. Administration: Keeping Hospital Operations From Flatlining

Current C-suite staff focused on finance are tasked with juggling plenty of plates. The chief financial officer (CFO) keeps an eye on revenues, while the chief operating officer (COO) has to look at the bottom line and keep costs low. But aided by AI, the CFO can oversee both sides of the equation with ease, freeing up the COO to keep services running smoothly on a day-to-day basis. This kind of leadership and staffing efficiency is essential because hospitals are always at risk of taking their eye off the main goal: keeping people healthy and ensuring that the day-to-day operation of healthcare systems runs smoothly.

The AI revolution will involve feeding in and parsing data from entire specialty wings and specific beds within a hospital or hospital group to better allocate resources automatically, Sanderson believes. “I think you will be able to look at the trends and diagnoses that are within the four walls of your hospital and be able to use that as an operational managerial tool,” he says. “You’ll be able to determine what your labor needs are, your food supplies and your medications” — all with better precision than ever before.

This is just around the corner, he notes, and is likely to manifest in the next few years. “It’s about as hot as it can be right now, with respect to interest and applicability,” he says of the AI buzz in hospital finance. Crowe, for one, is using technology that helps CFOs at its client organizations get a better handle on what financial position they’ll finish the year in. That use of technology is likely to expand in the near future, using information at present (including its current financials, sickness levels and hospital performance) and broader trends in the industry to project what a healthcare company’s financial performance will be in the future.

Better prediction and projection can help health systems take better risks, too, says Sanderson. Bolstered by big data, hospitals know when to take the plunge on investing several million in a new wing or diagnostic machine, for example, and when they’ll need to funnel all resources into keeping pace with more immediate concerns. “It can incorporate things like what happens when flu season hits, if there are implications from weather or if competitors open up particular facilities.”

3. Revenue Cycles: It’s a Journey To Automation

“Every health system has to become more efficient to reduce costs,” explains Sanderson. It’s a simple fact of business. But to truly bolster the revenue cycle, health systems must follow a multi-stage journey to reach maximum efficiency, according to Crowe. The first step in the process is to recognize people and processes that set the standard for optimal operations.

The second is to standardize processes to mimic highest achievers: encourage everyone to follow the path that one high achiever takes. “A lot of consulting sort of stops there,” says Sanderson: “‘This is the way you should be doing it; we want everybody doing it this way.’” But taking it a step further — and systematizing your processes — can unlock even greater efficiency. Utilizing the appropriate technology, either by ensuring the effective use of systems already in place or investing in technology that enables your teams to complete, and repeat, the correct process, is essential. Enhancing standardized human workers by giving them access to AI tools and big data helps compel them to work smarter. However, it’s still not the most efficient method of handling the revenue cycle. That comes with automation: utilizing AI across organizations to determine the best industry practice and delegating redundant tasks to machines through RPA, thus freeing up human workers to take on more uniquely human problems and relying on fewer staff to monitor machine performance.

“Where are most [organizations] on that spectrum?” asks Sanderson. “Most are somewhere in the middle of that journey.” Progress is linear and must incorporate every step, he says. It’s not possible to skip straight to automation, since the processes in place and being automated might incorporate glitches.

But as more health systems progress further along that journey, feeding more data into the bigger picture, the benefits become greater too. Crowe currently has access to 1,200 hospitals’ data, across a wide geographic span, and is leveraging that to improve performance across the board. It allows the company to take in the entire scope of current innovation — and help clients learn from best practices and peers. “The future is an amalgamation of data to allow for the best of the best,” says Sanderson. “The idea is to take an entire industry worth of data and build something scalable, and adoptable, for the industry.” In so doing, healthcare organizations allow their professionals to focus on the real goal: keeping people healthy and providing better care for all.

Crowe Contributor Crowe Contributor Brand Contributor

Crowe LLP is a public accounting, consulting, and technology firm with offices around the world.

Source: How AI Is Revolutionizing Healthcare

The Soup Has a Familiar Face: How Artificial Intelligence Is Changing Kroger, Walgreens And Others

In their efforts to eliminate marketing misfires in the aisles, more retailers are investing in ways to physically connect with their customers within their stores. From cooler doors that recognize a face to dressing room mirrors that can dim the lights, retailers are investing in artificial intelligence (AI) for one key purpose: to accurately anticipate customer behavior at scale. This was a theme recently of the National Retail Federation’s Big Show in New York. Specifically, retailers are using AI, facial recognition and other advanced technologies for their physical tracking capabilities………………

Source: The Soup Has a Familiar Face: How Artificial Intelligence Is Changing Kroger, Walgreens And Others

China’s Ping An Insurance Firm Partner With Sanya City Authorities to Build DLT-Powered Smart City – Ogwu Osaemezu Emmanuel

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Ping An Insurance Group, a highly reputed China-based insurance corporation has joined forces with the Sanya municipal government to develop a “smart city” that would be powered by blockchain technology, artificial intelligence (AI) and other new technologies,” according to a local news source, People’s Daily on November 14, 2018. Per sources close to the matter, in a bid to contribute its bit to urban development in China, Ping An Group has reportedly inked a strategic agreement with Sanya Municipal People’s Government to construct a “Smart City” run entirely by innovative technologies including the revolutionary blockchain technology, big data, artificial intelligence, and others…………..

Read more: https://btcmanager.com/chinas-insurance-dlt-powered-smart-city/

 

 

 

 

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These 5 Innovative AI Companies Are Changing The Way We Live – Rosie Brown

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It’s 2018 and the world doesn’t quite look like a scene from “The Jetsons.” However, technological innovation spurred by advancements in computing has allowed for artificial intelligence to bring significant changes to the way businesses operate, impacting our everyday lives. Here are five industries impacted by AI…….

Read more: https://www.forbes.com/sites/nvidia/2018/11/01/these-5-innovative-ai-companies-are-changing-the-way-we-live/#2dc9a60e5a7f

 

 

 

 

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A.I. Is Helping Scientists Predict When and Where the Next Big Earthquake Will Be – Thomas Fuller & Cade Metz

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Countless dollars and entire scientific careers have been dedicated to predicting where and when the next big earthquake will strike. But unlike weather forecasting, which has significantly improved with the use of better satellites and more powerful mathematical models, earthquake prediction has been marred by repeated failure. Some of the world’s most destructive earthquakes China in 2008, Haiti in 2010 and Japan in 2011, among them……..

Read more: https://www.nytimes.com/2018/10/26/technology/earthquake-predictions-artificial-intelligence.html

 

 

 

 

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AI Innovators: This Researcher Uses Deep Learning To Prevent Future Natural Disasters – Lisa Lahde

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Meet Damian Borth, chair in the Artificial Intelligence & Machine Learning department at the University of St. Gallen (HSG) in Switzerland, and past director of the Deep Learning Competence Center at the German Research Center for Artificial Intelligence (DFKI). He is also a founding co-director of Sociovestix Labs, a social enterprise in the area of financial data science. Damian’s background is in research where he focuses on large-­scale multimedia opinion mining applying machine learning and in particular deep learning to mine insights (trends, sentiment) from online media streams. Damian talks about his realization in deep learning and shares why integrating his work with deep learning is an important part to help prevent future natural disasters……..

Read more: https://www.forbes.com/sites/nvidia/2018/09/19/ai-innovators-this-researcher-uses-deep-learning-to-prevent-future-natural-disasters/#be6f7b16cd16

 

 

 

 

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The Success of Your Business Depends On The Relationship Between IT & Finance – Damon Fletcher

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Thirty-eight percent of CFOs are responsible for IT departments, but many finance departments operate separately from their IT counterparts. As CFO duties evolve to include greater technology responsibilities, it is vital for modern finance departments to prioritize a data strategy. In fact, digital transformation is a necessity. Without evolving the relationship between finance and IT to prioritize data and actionable insights, your business risks falling behind competitors and achieving full potential……

Read more: https://qz.com/1413303/the-success-of-your-business-depends-on-the-relationship-between-it-and-finance/?utm_source=pocket&utm_medium=firefox_placement

 

 

 

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Is Artificial Intelligence Replacing Jobs In Banking – Vishal Marria

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Over the past 12 months, the banking industry has become increasingly excited about AI. Virtually every leading consultancy has published research on the impact AI will have on the sector and investment continues to pour into developing innovative solutions. But, alongside all the buzz comes the inevitable concern that the implementation of this technology will reduce the need for actual human workers. The notion here is simple – if a bank can automate a process then surely they don’t need a human to do it….

Read more: https://www.forbes.com/sites/vishalmarria/2018/09/26/is-artificial-intelligence-replacing-jobs-in-banking/#63e9c0fa3c55

 

 

 

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