AI News and Insights – October 2021

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Ai news and insights October 2021

(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 articles that caught my eye this month. Please free free share with others.

AI business news – Oct 2021

GAP acquires AI company

GAP retail has acquired AI start-up CB4 with its strategy to use AI in all its retail operations. CB4 is being used by Levis, Urban outfitters, Lidl etc.

Insights:

  • Many retailers have been using analytics for many years. AI gives another level of insights.
  • With huge amounts of retail data, AI can be leveraged to get better understanding of everything from supply to demand.
  • Today, many retailers are using AI, in some shape or form, to advance their retail analysis.
  • By owning this company, GAP will have full control of the technology as well as have the ability to licence it out out and receive another valuable revenue stream.

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Rain prediction with AI

Deepmind technologies (London) is working with UK weather service The MET office to predict weather.

Insights:

  • There has been weather computer modelling since 1950’s.
  • Weather prediction can help many industries and businesses forecast and plan ahead.
  • AI is able to model huge amounts of data from satellite imagery, barometers, thermometers, doppler readings, radiosondes, buoys and legacy data.
  • AI algorithms can process huge amounts data to predict with speed.
  • Future AI weather reporting will allow longer term forecasting.

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AI tech news – Oct 2021

AI virus prediction

A new study by Glasgow University is using ML/AI to predict what viruses can jump from animals to humans.

Insights:

  • It is said COVID was possibly transmitted from bats.
  • Using AI/ML technology is a great way of looking through millions of Genomes for characteristics of a virus.
  • ML models can do this easily and perfectly and in some cases outperform conventional means of checking.

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About AI – Oct 2021


AI finance news – Oct 2021

AI biotech dream worth $2.9bn

Andrew Hopkins thought of starting an AI biotech company (Exscientia) while he walked home from his laboratory. The company uses AI to develop medicines. It was floated on the stock market and now worth $2.9bn.

Insights:

  • AI is transforming medicine.
  • ML models are used from drug development selection to testing.
  • Drugs normally tested against millions of variables or protein libraries, checking for suitability and safety.
  • AI/ML models speeds up process, reduces costs.
  • AI/ML could make tailor made drugs.

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Synthetic data company raises $35m

Tonic.ai is a company that produces data with fake data. They announced that they have raised over $35 in a series B funding round.

Insights:

  • Synthetic data is becoming big business.
  • Every company using AI/ML will need data for training models.
  • Often data is either in short supply or not at the quality required. Creating fake data is often faster and cheaper than creating and capturing data in the first place. Fake data mimics real-world data and comes pre-labelled which means it can be used instantly. However, there are many concerned on its accuracy as apposed to ‘live’ data.

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Other AI, ML, Bigdata and tech news


Thank you so much for reading. If you would like advice with anything to do with AI, finding the best technology partners (The AI finder) to organising an AI strategy, please don’t hesitate to contact me.

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