Home » News » Artificial Intelligence, Fintech, Tech business news and insights – May 2022

Tuesday, 3 May, 2022

Artificial Intelligence, Fintech, Tech business news and insights – May 2022

LIVE document – More coming soon – Updated throughout month. Pop back for latest updates

Artificial Intelligence is one of the most important technologies this century.

The development and application of AI technology changes daily. In order to be ahead of the curve, I spend a lot of time analysing, filtering and distilling the latest insights for all my clients.

Here are just a few interesting AI, ML, Big data, analytics, business, and technology news and articles that caught my eye this month. Please note that this news is going to focus more on business rather than technology.

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AI in business  – May 2022

  • Google manufacturing solutions – Google launch two new technologies to help enable manufacturers to connect assets, process and data for the factory floor.
  • AI simulation – It is important way of recreating possible future scenarios. Brief insights – There has been a huge rise in ‘digital twins’ to help try different approaches, speed up advancement and reduce risk.
  • British Telecom and AWS – BT and AWS partner up to reduce costs and improve AI capability. Brief insights – Infrastructure is crucial to the success of your AI project. In the past, most big companies had their own IT departments. Today, these are being outsourced to reduce costs and improve technology and efficiency. It is estimated this will help towards BT’s £2bn savings.
  • Autonomous cars in China – Baidu and Pony AI have been given the green light for driverless taxis in Beijing.
  • AI boosts semiconductor sales – AI is helping fuel the growth in semiconductors. The industry is reputed to be nearly worth $1Trillion dollars.  Brief insights – We have only scratched the opportunity with semiconductors and AI edge technology. Along with 5G and remote processing, this will increase demand further.
  • Future of AI, cloud etc – Interesting WSJ discussion with Arvind Krishna (CEO of IBM).
  • 5 rules for fixing AI in business – Article by BCG to help make sure your AI is delivering your objectives.

AI in business use cases – May 2022

  • Mars AI ingredient discovery – Mars group have teamed up with PIPA to discover new plant-based ingredients for human, animal and supplementary markets. Brief insight – Partnerships are a good move in AI development. Some companies are leaders in the field and allow quick route to market.
  • Stronger and greener concrete – Meta AI with University of Illinois have developed new formula for concreate that uses 40% less carbon.
  • AI improves complex supply chain management – Supply chains are getting ever complex. With global buying it is prone to many potential issues. Brief insights – With all logistics companies there are tons of information to process. AI is able to handle all of this dynamically and in real time. Tasks can also be automated as requested.
  • Ericsson using AI to help with sustainability – Every company has their part to play in environmental sustainability. In this use case, Ericsson look at using AI to help reduce their CO2 emissions.

AI in retail – May 2022

  • AI in retail – Some trends and ensuring AI for monitoring stock conditions.
  • Talk to Linda Leopold – Linda is the head of responsible AI & data at H&M Group. Interview looking at the importance of responsible AI in retail. Interview by Mark Minevich.

AI fintech – May 2022

  • Quin AI raises $582K – Quin are a user prediction AI service for a range of business sizes. Brief insight – Traffic to websites are valuable resource. Most traffic comes and goes without fully understanding why. Using AI can help process across many data points and recommend changes to increase revenue.
  • Synthesis AI raises $17M – Pioneer in synthetic data technology.  Brief insight – AI is dependent on data and in some occasions, existing data is not enough. Synthetic data is key to growth of AI in the future.
  • Kinetix raises $11M – Paris based Kinetix has raised $11 for their AI 3d animation platform.
  • Galileo raises $5.1M – Galileo jumps out of stealth mode for funding. Galileo is an very interesting as you can add a few lines of code to your your AI project and Galileo checks AI code for issues.  Brief insight – As more companies implement AI many models, this will save lots of time and money in development.
  • Traceable AI raises $60M – Traceable AI, an API security and observability company, today announced it has raised $60 million in Series B funding. Brief insight – Using AI as surveillance to continually monitor patterns of use or misuse is a great application. The volumes of data and methods can be extremely complex. AI  can silently monitor and flag up issues quickly. This is a growth area as compliance and security are increasingly more important today.
  • Accern raises $20M – Accern raises 20m for its No Code NLP from documents. Brief insights – Legacy companies have a huge wealth of data they can tap into from paper documents. Having AI technology with bolt on NLP capability has huge potential with unstructured data.
  • Imagene raises $21.5M – Tel Aviv AI start-up has secured funding for cancer research.

AI technology – May 2022

  • Neuro-symbolic AI –  More interest has been given to Neuro-symbolic AI. Brief insight – Most AI is focussed on outcomes rather than causality. Neuro-symbolic AI helps understand why or a cause of an action. ANN’s are perfect for complexity. If both techniques were combined, they would give a powerful way to get accuracy and understanding. This would then lead to better decisions, technology and outcomes.
  • Meta release 175 billion transformer – Meta release Open Pretrained Transformer (OPT-175B) which has been trained on publicly available data sets.
  • AI heart monitor – researchers at the Mayo clinic develop an app for Apple Watch to monitor heart disease. Brief insight – There are huge opportunities for health AI to monitor and flag up health issues. This can be combined with other metrics to give a powerful global picture of health.

AI learning – May 2022

  • Difference between Data science and data analytics – Interesting article defining each discipline and how you can get the best out of each.
  • Yannic discusses a new paper on how you can integrate robots with NLP. It demonstrates the huge possibilities with this technology.

AI in government – May 2022

Tech stories/articles

  • Q1 cloud wars – Great article by Bob Evans on the size and growth of the big cloud vendors in this first quarter this year.
  • Robots and jobs – Interesting article on ‘The robots aren’t coming for your jobs’.
  • Why billions are pouring into robots – In 2021 funding globally on robotics have grown to $14.9 billion. This is fuelled by the demand for factory automation.
  • PayPal migration to Google Cloud. Great conversation with Bruno Aziza (Google) and Bala (PayPal)

AI Surveys and research – May 2022

  • Artificial Intelligence ethics – Over 75% of companies have not implemented an AI ethics policy.  Brief insight – This is critical step in the development and for society. Every company should do this as it not only strengthens the AI development, but future proofs it. As legislation comes, those who do not have a policy will have to implement one at extra cost to the company.

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