Financial Inclusion, Cryptocurrency and the Developing World – Cointelegraph

Beyond rapidly changing how we create, store and transfer value, cryptocurrencies are accelerating financial inclusion in a way that traditional financial institutions have either been unwilling or unable to. Yet cryptos possibilities go way beyond banking the unbanked. It allows developing nations and those without access to financial services to avoid the bank completely and transact and grow small businesses using just a mobile phone.

Even today, almost 2 billion people around the world have no access to financial services. Thats approximately one-fourth of the global population. Having nowhere to place savings and not being able to get a bank card, obtain credit or avail of basic services such as life insurance is a horribly crippling disadvantage. These people are effectively unable to take part in their local economies at least, in meaningful ways.

Gaining access to financial services will allow financially excluded people to improve their lives, increase their earnings, raise their household income and even stash away some savings for troubled times such as the ones were living in currently. Entrepreneurs can gain access to credit to start a business and families can acquire land and livestock and ensure that the roofs over their heads are safe. Quality of life can be improved for all.

Further still, impoverished parents can begin to send their children to school, offer them improved living conditions and access healthcare services. Financial inclusion can even lead to the creation of jobs as small businesses expand and need to take on additional personnel. Were talking about a massive section of the global population that could substantially motor the economy through financial inclusion.

The vast majority of financially excluded individuals live in developing regions. Yet this also coincides with a young, largely tech-savvy population. In parts of Africa, for example, mobile phones are more common than access to electricity. They have long been used as a primary tool for daily life exchanges and, more recently, for cryptocurrency use.

Across Africa, some 200 million people are between the ages of 15 and 24. This makes them generally well-versed in technology and a naturally captive audience for cryptocurrency adoption. This is mirrored by the population in many developing countries including Indonesia, Turkey and India. A tech-savvy population with a high mobile phone penetration rate and a pressing need for financial services: This creates the perfect conditions to accelerate the adoption of cryptocurrencies.

As many people cant access the traditional banking system, being able to earn, save and transact in cryptocurrencies directly from a telephone is hugely beneficial.

India is currently one of the most promising markets for cryptocurrency adoption and financial inclusion right now. With the regulatory framework improving this year with the Supreme Court of India overturning the Reserve Bank of Indias ban on cryptocurrency, adoption in the worlds second-most populated country could really take off.

Indias national currency, the rupee, has steadily declined in value against the United States dollar over the last decade. And with the COVID-19 pandemic causing increased money printing in India just as in other parts of the world, the rupee is being devalued further. Declining confidence in the national fiat currency as well as the government could be a large catalyst for cryptocurrency adoption in India and in many parts of the world.

Along with Africa and Indonesia, Indias population is young and very familiar with technology. In fact, around 8% of Indias gross domestic product comes from its well-developed IT outsourcing industry. The country has the skills and technical talent to make crypto startups flourish here. And with the largest remittance market in the world, crypto is the perfect use case for unshackling people from the high fees and lengthy delays involved in sending money home.

Of course, the right conditions and the potential dont make crypto adoption a done deal. There is still much work to be done. The scene is being set for more and more crypto startups, remittance companies, exchanges and applications to appear across the developing region. At OKEx, we see the giant potential for crypto adoption in these parts of the world, and we want to be at the forefront of it. This is why our partnership with Paxful, the leading peer-to-peer Bitcoin (BTC) marketplace, is all the more significant.

Paxful has an extensive payment method infrastructure that allows local people to select how they pay for their Bitcoin from more than 300 different ways. This could be gift cards, store points, cash on delivery or indeed any local method deemed acceptable by the seller. This kind of flexibility allows it to onboard people into cryptocurrency more easily.

They can then send and receive Bitcoin for goods and services and, through OKEx, earn interest on their BTC savings through high-interest accounts as well as make their money work for them accessing advanced trading tools.

As regulation becomes more favorable and the peoples needs are still repeatedly ignored by traditional finance, a young population with high mobile penetration will help financial inclusion to finally become a reality. The next wave will soon be onboarded to crypto, and its the developing world that will be leading the charge.

The views, thoughts and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Jay Hao is a tech veteran and seasoned industry leader. Prior to OKEx, he focused on blockchain-driven applications for live video streaming and mobile gaming. Before tapping into the blockchain industry, he already had 21 years of solid experience in the semiconductor industry. He is also a recognized leader with successful experiences in product management. As the CEO of OKEx and a firm believer in blockchain, Jay foresees that the technology will eliminate transaction barriers, elevate efficiency and eventually make a substantial impact on the global economy.

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Financial Inclusion, Cryptocurrency and the Developing World - Cointelegraph

The Benefits of Cryptocurrency Trading Crypto Benzinga – Benzinga

Benzinga Money is a reader-supported publication. We may earn a commission when you click on links in this article. Learn more.

Many people think of cryptocurrency as a simple store of value, but there is much more to the idea. Bitcoin is rooted in financial rebellion, not as another way to pay for a pizza. There are many benefits implied within a decentralized, trustless, immutable system of record-keeping and value transference. Political and financial leaders around the world are taking note, and you should as well.

Even if you dont plan to get involved in cryptocurrency as anything more than a portfolio hedge, youll definitely enjoy knowing just how crypto will change the financial and political world of the future.

If you have ever been annoyed waiting for a cash transfer from a bank account, you may want to consider using crypto. Transfers are instant with lower fees than platforms like Paypal. Using crypto also eliminates fraudulent chargebacks because payments on a blockchain cannot be reversed.

Using crypto also frees you to send money wherever you want with no middleman scrutinizing your transaction history. This includes international recipients who will also happily avoid Paypals expensive currency conversion fees.

The concept of the micropayment, or pay as you go, on-demand payment structure, is another advantage of using cryptocurrency. The built-in fees that you pay when using a credit card disappear with crypto, making per-second or per-minute micropayments a reality. Instead of paying a subscription fee for a streaming service, for example, crypto allows you to pay only when you watch a movie. As a matter of fact, Streamium is a video streaming service that does just that.

Even if youre not a huge crypto buff, you likely heard of the Bitcoin mania that took place around Christmas 2017. Bitcoin exploded in value, almost touching $20,000 USD per coin. At that time, it was literally the best financial investment of all time. Bitcoins value relative to the dollar has receded since then, but crypto bulls believe it can top its 2017 performance and bring the rest of the crypto market with it.

More investors than ever both individuals and institutions are holding some sort of crypto in a portfolio. This includes very public crypto skeptics like Jamie Dimon, CEO of JPMorgan Chase. The Chicago Mercantile Exchange (CME) offers options on Bitcoin futures, giving the market mainstream viability it didnt have before its breakout 2017 year. The crypto market has all of the markings of a solid potential growth investment: rising visibility and sentiment, a relatively low market cap compared to traditional asset classes and consistently increasing utility.

Many investors in the U.S. think of crypto as a volatile investment. This may be because the U.S. dollar is the worlds reserve currency and still one of the most stable currencies on the planet. To a country like Venezuela, crypto actually represents a more stable form of money. This notion is more than a pipe dream or an experiment Nigeria, Australia, Spain and Canada have all doubled their use of Bitcoin year over year.

In countries like Venezuela, the population is literally using Bitcoin to save its life. The government cannot exercise nearly as much control over cryptocurrency as it can a fiat currency. Russia is trying to create its own crypto and criminalize any other nonsanctioned competitor. The people of Zimbabwe prefer crypto to the gold-backed currency the government is pushing.

Imagine never having to pay a lawyer to do good business again. Imagine a real estate transaction with no escrow fees. This is a world that proponents of Ethereum say is quite possible. The smart contract, built on the Ethereum platform and quantified through the Ether cryptocurrency, brings the unchangeable, fraudless blockchain into the realm of law. Smart contracts create a 100% safe way to conduct an agreement sans the judicial system.

The idea of smart contracts is so well received that Ethereum has actually outpaced Bitcoin in terms of new users over the past year. Ethereum developers say that Ethereum will soon beat Bitcoin in the number of developers, daily value transfers and transactions per second.

Facebook and Twitter have recently created controversy because of their willingness to police its platform. Depending on who you ask, we lose. One of the inventive uses of cryptocurrency is to serve as the basis of a decentralized social network. In this structure, there is no central authority to blame for censoring or not censoring controversial content.

Decentralized social media also gets rid of the data privacy controversy because there is no central authority present to gather and sell private data. Cryptocurrency micropayments replace invasive ads as the platforms funding mechanism. Spam is still unwelcome, but it is moderated through a smart contract rather than a mod, who can be influenced to be subjective.

To get the most out of crypto, you need to be able to get your hands on more than 1 kind of coin. You can do this most efficiently through a trading platform. Take a look at the feature sets of the brokers below.

Although you may certainly use Bitcoin, Ether or altcoin as cash, the real benefits of crypto are much broader. Even if the current generation of cryptocurrencies phases out as money, the social and financial ideas they brought to the mainstream cannot quickly be forgotten. The ideas mentioned above represent only the tip of the digital iceberg in terms of potential social and financial utility.

Avail yourself of the more technical benefits of value stores, smart contracts and other crypto utilities. They will certainly play a major part in peoples lives in the very near future. The more you learn today about what crypto can really do, the more your life will benefit tomorrow. You may even be inspired to create a use of your own for cryptocurrency in this still quite new and wide-open space.

Finding the right financial advisor that fits your needs doesn't have to be hard. SmartAsset's free tool matches you with fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is legally bound to act in your best interests. If you're ready to be matched with local advisors that will help you achieve your financial goals, get started now.

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The Benefits of Cryptocurrency Trading Crypto Benzinga - Benzinga

Phishing and cryptocurrency scams squashed as one million emails are reported to new anti-scam hotline – ZDNet

A service that allows people to flag phishing and other suspicious emails has been sent over a million reports of scam messages so far.

In two months since the service was launched by the UK's National Cyber Security Centre (NCSC) it has been receiving 16,500 emails on average every day, which has resulted in 10,000 links to online scams either blocked or taken down by authorities.

NCSC said 10% of the scams were removed within an hour of an email being reported, and 40% were down within a day of a report. Over 10,200 malicious URLs linked to 3,485 individual sites have been removed.

SEE: Security Awareness and Training policy (TechRepublic Premium)

A wave of cryptocurrency investment scams makes up more than half of all online scams detected as a result of reporting,the agency said.

Cryptocurrency investment scams have been recognised as a growing problem, leading to millions of pounds in losses annually as scammers masquerading as a crypto exchanges or traders trick people into handing over money. Over 27 million was lost to scams involving crypto and foreign exchange investments in 2018/19 according to the Financial Conduct Authority, with victims losing on average over 14,600.

Other scams detected include fake online shops and bogus messages claiming to come from TV Licensing, HMRC, Gov.uk and the DVLA.

To use the reporting service, people are asked to forward suspect emails to report@phishing.gov.uk. If they are found to link to malicious content, it will be taken down or blocked.

Commander Karen Baxter, from the City of London Police, said phishing emails are often the first step in a lot of fraud cases because they provide the initial gateway for criminals. "Unquestionably, a vast number of frauds will have been prevented," she said.

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Phishing and cryptocurrency scams squashed as one million emails are reported to new anti-scam hotline - ZDNet

NetCents Technology paves the way for mainstream cryptocurrency adoption by offering daily settlements to merchants – Proactive Investors USA &…

The ability to offer daily settlements removes a major pain point for enterprises using cryptocurrency by speeding up the payment process

Technology Inc () (OTCQB:NTTCF) announced Wednesday that it is now providing daily settlements for US-based merchants.

The ability to offer daily settlements removes a major pain point for enterprises using cryptocurrency as a form of payment by speeding up the payment process and paving the way for mainstream adoption, the Vancouver-based company told shareholders.

NetCents said it is laser focused on streamlining and enhancing the merchant experience to keep driving mass adoption of cryptocurrency as a payment method in a bid to overcome the perception that the digital payment system is less trustworthy, according to CEO Clayton Moore.

"The ability to offer daily settlements to merchants is another feather in our cap in the eyes of our merchants, as they can get their money faster, which really increases the confidence level in our products, Moore said in a statement.

Earlier this year NetCents debuted daily settlements for enterprise merchants that process more than $100,000 per month in crypto transactions. After a successful trial period, and integration into the banking Automated Clearing House (ACH)that lets approved parties transfer money with no added costs, the firm launched the capability to all US-based merchants.

Recent moves to improve the merchant experience include adding Lightning Network as a payment method, additional enterprise invoicing services for SaaS and B2B merchants, enhancing business intelligence reporting and expanding onboarding support.

The company also expanded its refund functionality for merchants and enhanced the merchant gateway and terminal APIs for custom integrations.

"(The) interest in using crypto as a payment mechanism, as well as touchless, and cashless payments has really put a spotlight on our platform both in the eyes of the end consumer, merchants, and financial intermediaries," Moore added.

NetCents technology is deployable across millions of terminals worldwide.

Contact Angela at [emailprotected]

Follow her on Twitter @AHarmantas

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NetCents Technology paves the way for mainstream cryptocurrency adoption by offering daily settlements to merchants - Proactive Investors USA &...

Artificial Intelligence (AI): 8 habits of successful teams – The Enterprisers Project

The adoption ofartificial intelligence(AI) in the enterprise continues: More than half (58 percent) of respondents to McKinsey & Companys recentglobal AI surveysay their organizations have embedded at least one AI capability into a process or product in at least one function or business unit, up from 47 percent in 2018. Those increases were reported across all industries. Whats more, nearly a third (30 percent) are using AI in products or processes across multiple business units and functions, McKinseys data says.

But, as the McKinsey research and others point out, some organizations are much further along in scaling their AI initiatives.

[ Do you understandthe main types of AI?Read also:5 artificial intelligence (AI) types, defined.]

What are teams succeeding with AI doing that others can emulate to propel their efforts? Here are 8 habits to consider:

65 percent of AIhigh performers report having a clear data strategy, McKinsey data says.

The organizations that McKinsey identified as AI high performers were deliberate about their plans to scale AI and were more likely to have addressed key issues like business alignment and data. Nearly three quarters (72 percent) of respondents from AI high performers said their companys AI strategy aligns with their corporate strategy, compared with 29 percent of respondents from other companies. Similarly, 65 percent from the high performers report having a clear data strategy that supports and enables AI, compared with only 20 percent from other companies.

[ Get our quick-scan primer on 10 key artificial intelligence terms for IT and business leaders:Cheat sheet: AI glossary.]

Being successful with AI programs requires that organizations create working teams with representation from multiple disciplines, says Seth Earley, CEO ofEarley Information Scienceand author ofThe AI-Powered Enterprise.

The particular mix of skills required will vary based on the flavor of AI.

Vodafone, for example, tried to build their AI capability by looking for cognitive engineers. The problem is that cognitive engineer is a new job role and there were none on the market, says Earley. Instead, they built their own by assembling a team consisting of data scientists and programmers (obviously), but also linguists, information architects, user experience experts, and subject matter experts from the business.

The particular mix of skills required will vary based on the flavor of AI. Predictive analytics would not likely require a linguist, for example, Earley notes.

Think of as many business use cases for an AI solution as possible.

Companies looking to implement AI-enabled solutions need to ensure they arent being limited by their own creativity, says Dan Simion, vice president of AI and analytics atCapgemini. He advises AI teams to think of as many business use cases for a solution as possible. While there may be examples of AI-enabled use cases that organizations have implemented previously, there are likely additional cases that have never been thought of. If aligned properly with unique business needs, they could immediately solve an organizations burning issues, Simion says.

Casting a wide net of use cases can determine how far the new AI-enabled solution might go and help the organization identify which use cases are going to offer the quickest payback. If sequenced correctly, the initial use cases can bring immediate ROI, helping to self-fund future use cases within the program as it progresses, says Simion.

Successful AI projects model what users actually need and determine this through actual working sessions with users, observations, and process mapping, Earley explains. These need to be specific and testable.

AI systems built based on generic use cases like personalizing the customer experience will not be testable unless they specify the details of the user, the scenario, and exactly what personalized content and a personalized experience looks like, says Early.

Lets look at four more best practices:

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Artificial Intelligence (AI): 8 habits of successful teams - The Enterprisers Project

Artificial Intelligence in Healthcare Market with COVID-19 Impact Analysis by Offering, Technology, End-Use Application, End-user and Region – Global…

Dublin, June 25, 2020 (GLOBE NEWSWIRE) -- The "Artificial Intelligence in Healthcare Market with Covid-19 Impact Analysis by Offering (Hardware, Software, Services), Technology (Machine Learning, NLP, Context-Aware Computing, Computer Vision), End-Use Application, End User and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The AI in healthcare market is expected to be valued at USD 4.9 billion in 2020 and is likely to reach USD 45.2 billion by 2026; it is projected to grow at a CAGR of 44.9% during the forecast period.

The major factors driving the growth of the market are the increasing volume of healthcare data and growing complexities of datasets, the intensifying need to reduce towering healthcare costs, improving computing power and declining hardware costs, a growing number of cross-industry partnerships and collaborations, and rising imbalance between health workforce and patients driving the need for improvised healthcare services.

Another major driving factor fueling the market growth currently is the adoption of this technology by multiple pharmaceutical and biotechnology companies across the world to expedite vaccine or drug development processes for COVID-19. The major restraint for the market is the reluctance among medical practitioners to adopt AI-based technologies and lack of a skilled workforce.

MPU processor segment expected to hold the largest share in AI in healthcare in 2020

An MPU contains all or most of the CPU functions and is the engine that goes into motion when the computer is on. A microprocessor is specially designed to perform arithmetic and logic operations that use small number-holding areas called registers. Typical microprocessor operations include adding, subtracting, comparing two numbers, and fetching numbers. These operations are the result of a set of instructions that are part of the microprocessor design.

AI in the healthcare market for machine learning projected to grow at the highest CAGR during the forecast period

Growing adoption of deep learning in various healthcare applications, especially in the areas of medical imaging, disease diagnostics, and drug discovery, and the use of different sensors and devices to track a patient's health status in real-time are supplementing the growth of the market.

Patient data & risk analysis segment to capture the largest share of AI in the healthcare market

The growth of the patient data & risk analysis segment is attributed to the increasing adoption of EMRs and various advantages offered by AI systems to healthcare service providers, patients, pharmaceuticals companies, and payers.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary3.1 Covid-19 Impact Analysis: AI in Healthcare Market3.1.1 Pre-COVID-19 Scenario3.1.2 Realistic Scenario3.1.3 Optimistic Scenario3.1.4 Pessimistic Scenario

4 Premium Insights4.1 Attractive Opportunities in AI in the Healthcare Market4.2 AI in Healthcare Market, by Offering4.3 AI in Healthcare Market, by Technology4.4 Europe: AI in Healthcare Market, by End-user and Country4.5 AI in Healthcare Market, by Country

5 Market Overview5.1 Introduction5.2 Market Dynamics5.2.1 Drivers5.2.1.1 Influx of Large and Complex Healthcare Datasets5.2.1.2 Growing Need to Reduce Healthcare Costs5.2.1.3 Improving Computing Power and Declining Hardware Cost5.2.1.4 Growing Number of Cross-Industry Partnerships and Collaborations5.2.1.5 Rising Need for Improvised Healthcare Services Due to Imbalance Between Health Workforce and Patients5.2.2 Restraints5.2.2.1 Reluctance Among Medical Practitioners to Adopt AI-Based Technologies5.2.2.2 Lack of Skilled AI Workforce and Ambiguous Regulatory Guidelines for Medical Software5.2.3 Opportunities5.2.3.1 Growing Potential of AI-Based Tools for Elderly Care5.2.3.2 Increasing Focus on Developing Human-Aware AI Systems5.2.3.3 Growing Potential of AI-Technology in Genomics, Drug Discovery, and Imaging & Diagnostics to Fight Covid-195.2.4 Challenges5.2.4.1 Lack of Curated Healthcare Data5.2.4.2 Concerns Regarding Data Privacy5.2.4.3 Lack of Interoperability Between AI Solutions Offered by Different Vendors5.3 Value Chain Analysis5.4 Case Studies5.4.1 Mayo Clinic'S Center for Individualized Medicine Collaborated With Tempus to Personalize Cancer Treatment5.4.2 Microsoft Collaborated With Cleveland Clinic to Identify Potential At-Risk Patients Under Icu Care5.4.3 Nvidia and Massachusetts General Hospital Partnered to Use Artificial Intelligence for Advanced Radiology, Pathology, and Genomics5.4.4 Microsoft Partnered With Weil Cornell Medicine to Develop AI-Powered Chatbot5.4.5 Partners Healthcare and GE Healthcare Entered into 10-Year Collaboration for Integrating AI Across Continuum of Care5.4.6 Ultronics, Zebra Medical Vision, Ai2 Incubator, and Fujifilm Sonosite Are Using AI Platform for Enhancing Medical Imaging Analysis5.4.7 Numedii, 4Quant, and Desktop Genetics to Use AI for Research and Development5.4.8 Nuance Launched Dragon Medical Virtual Assistant5.4.9 GE Healthcare Launched Command Center for Emergency Rooms and Surgeries5.4.10 AIserve Offers AI Wearable for Blind and Partially Sighted5.5 Impact of Covid-19 on AI in Healthcare Market

6 Artificial Intelligence in Healthcare Market, by Offering6.1 Introduction6.2 Hardware6.2.1 Processor6.2.1.1 Mpu6.2.1.2 GPU6.2.1.3 Fpga6.2.1.4 Asic6.2.2 Memory6.2.2.1 High-Bandwidth Memory is Being Developed and Deployed for AI Applications, Independent of Its Computing Architecture6.2.3 Network6.2.3.1 Nvidia (US) and Intel (US) Are Key Providers of Network Interconnect Adapters for AI Applications6.3 Software6.3.1 AI Solutions6.3.1.1 On-Premises6.3.1.1.1 Data-Sensitive Enterprises Prefer Advanced On-Premises Nlp and Ml Tools for Use in AI Solutions6.3.1.2 Cloud6.3.1.2.1 Cloud Provides Additional Flexibility for Business Operations and Real-Time Deployment Ease to Companies That Are Implementing Real-Time Analytics6.3.2 AI Platform6.3.2.1 Machine Learning Framework6.3.2.1.1 Major Tech Companies Such as Google, IBM, and Microsoft Are Developing and Offering Ml Frameworks6.3.2.2 Application Program Interface (API)6.3.2.2.1 Apis Are Used During Programming of Graphical User Interface (Gui) Components6.4 Services6.4.1 Deployment & Integration6.4.1.1 Need for Deployment and Integration Services for AI Hardware and Software Solutions is Supplementing Growth of this Segment6.4.2 Support & Maintenance6.4.2.1 Maintenance Services Are Required to Keep the Performance of Systems at An Acceptable Standard

7 Artificial Intelligence in Healthcare Market, by Technology7.1 Introduction7.2 Machine Learning7.2.1 Deep Learning7.2.1.1 Deep Learning Enables Machines to Build Hierarchical Representations7.2.2 Supervised Learning7.2.2.1 Classification and Regression Are Major Segments of Supervised Learning7.2.3 Reinforcement Learning7.2.3.1 Reinforcement Learning Allows Systems and Software to Determine Ideal Behavior for Maximizing Performance of Systems7.2.4 Unsupervised Learning7.2.4.1 Unsupervised Learning Includes Clustering Methods Consisting of Algorithms With Unlabeled Training Data7.2.5 Others7.3 Natural Language Processing7.3.1 Nlp is Widely Used by Clinical and Research Community in Healthcare7.4 Context-Aware Computing7.4.1 Development of More Sophisticated Hard and Soft Sensors Has Accelerated Growth of Context-Aware Computing7.5 Computer Vision7.5.1 Computer Vision Technology Has Shown Significant Applications in Surgery and Therapy

8 Artificial Intelligence in Healthcare Market, by End-Use Application8.1 Introduction8.2 Patient Data and Risk Analysis8.3 Inpatient Care & Hospital Management8.4 Medical Imaging & Diagnostics8.5 Lifestyle Management & Remote Patient Monitoring8.6 Virtual Assistants8.7 Drug Discovery8.8 Research8.9 Healthcare Assistance Robots8.10 Precision Medicine8.11 Emergency Room & Surgery8.12 Wearables8.13 Mental Health8.14 Cybersecurity

9 Artificial Intelligence in Healthcare Market, by End-user9.1 Introduction9.2 Hospitals and Healthcare Providers9.3 Patients9.4 Pharmaceuticals & Biotechnology Companies9.5 Healthcare Payers9.6 Others

10 Artificial Intelligence in Healthcare Market, by Region10.1 Introduction10.2 North America10.3 Europe10.4 Asia-Pacific10.5 Rest of the World

11 Competitive Landscape11.1 Overview11.2 Ranking of Players, 201911.3 Competitive Leadership Mapping11.3.1 Visionary Leaders11.3.2 Dynamic Differentiators11.3.3 Innovators11.3.4 Emerging Companies11.4 Competitive Scenario11.4.1 Product Developments and Launches11.4.2 Collaborations, Partnerships, and Strategic Alliances11.4.3 Acquisitions & Joint Ventures

12 Company Profiles12.1 Key Players12.1.1 Nvidia12.1.2 Intel12.1.3 IBM12.1.4 Google12.1.5 Microsoft12.1.6 General Electric (Ge) Company12.1.7 Siemens Healthineers (A Strategic Unit of Siemens Group)12.1.8 Medtronic12.1.9 Micron Technology12.1.10 Amazon Web Services (Aws)12.2 Right to Win12.3 Other Major Companies12.3.1 Johnson & Johnson Services12.3.2 Koninklijke Philips12.3.3 General Vision12.4 Company Profiles, by Application12.4.1 Patient Data & Risk Analysis12.4.1.1 Cloudmedx12.4.1.2 Oncora Medical12.4.1.3 Anju Life Sciences Software12.4.1.4 Careskore12.4.1.5 Linguamatics12.4.2 Medical Imaging & Diagnostics12.4.2.1 Enlitic12.4.2.2 Lunit12.4.2.3 Curemetrix12.4.2.4 Qure.AI12.4.2.5 Contextvision12.4.2.6 Caption Health12.4.2.7 Butterfly Networks12.4.2.8 Imagia Cybernetics12.4.3 Precision Medicine12.4.3.1 Precision Health AI12.4.3.2 Cota12.4.3.3 FDNA12.4.4 Drug Discovery12.4.4.1 Recursion Pharmaceuticals12.4.4.2 Atomwise12.4.4.3 Deep Genomics12.4.4.4 Cloud Pharmaceuticals12.4.5 Lifestyle Management & Monitoring12.4.5.1 Welltok12.4.5.2 Vitagene12.4.5.3 Lucina Health12.4.6 Virtual Assistants12.4.6.1 Next It (A Verint Systems Company)12.4.6.2 Babylon12.4.6.3 MDLIVE12.4.7 Wearables12.4.7.1 Magnea12.4.7.2 Physiq12.4.7.3 Cyrcadia Health12.4.8 Emergency Room & Surgery12.4.8.1 Caresyntax12.4.8.2 Gauss Surgical12.4.8.3 Perceive 3D12.4.8.4 Maxq AI12.4.9 Inpatient Care & Hospital Management12.4.9.1 Qventus12.4.9.2 Workfusion12.4.10 Research12.4.10.1 Icarbonx12.4.10.2 Desktop Genetics12.4.11 Cybersecurity12.4.11.1 Darktrace12.4.11.2 Cylance12.4.11.3 LexisNexis Risk Solutions12.4.11.4 Securonix12.4.12 Mental Health12.4.12.1 Ginger.Io12.4.12.2 X2Ai12.4.12.3 Biobeats12.4.13 Healthcare Assistance Robots12.4.13.1 Pillo12.4.13.2 Catalia Health

Story continues

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Artificial Intelligence in Healthcare Market with COVID-19 Impact Analysis by Offering, Technology, End-Use Application, End-user and Region - Global...

73% of Retailers Believe Artificial Intelligence Can Add Significant Value to Their Demand Forecasting – Yahoo Finance

Study reveals clear variation in business performance for retailers who have implemented new analytics technologies

LLamasoft, the leading provider of AI-powered supply chain analytics software to 750 of the world's leading brands, today published the results of a global retail supply chain study which revealed that 73% of retailers believe AI and Machine Learning can add significant value to their demand forecasting processes, and over half say it will improve 8 other critical supply chain capabilities.

The research also found that while 56% of overperforming retailers, also known as retail winners*, use technology to model contingency plans for severe supply chain interruptions, a mere 31% of retailers who are not overperforming do the same. Overall, 56% of retailers surveyed are struggling with the ability to respond to rapid shifts and the lack of flexibility has cost them during the disruptions such as COVID-19, with many seeing a huge drop in revenue as a result.

In addition, 73% of retail winners have the foresight and ability to monitor capacity, which allows them to prepare for sudden shifts in demand and supply, compared to 35% of other or under-performing retailers. This is a clear indication that retail winners are outmaneuvering the competition by predicting and preparing for the future. However, without the ability to adapt to these sudden spikes and troughs with contingency planning, the forecasting would be of little use. Therefore, the two must be married together to produce a retail winner.

COVID-19 has further illustrated that, moving forward, retailers must rapidly adjust to the never normal world we find ourselves in and they must act to consistently enable faster responses to succeed. There will always be market variations and disruptions, meaning that retailers must be able to forecast for these changes and adapt quickly. Ultimately, this is nothing new. While COVID-19 has accelerated certain changes, such as the move to e-commerce, retail habits were already shifting and the need to adapt was a pressing concern.

The study found the following when looking at what retail winners are doing to overachieve:

Rather than implementing newer AI and analytic technologies which enable organizations to better prepare for the future, underperforming retailers are struggling to move away from strategies designed to find the lowest-cost point of manufacture on a product-by-product basis. The contrast is clear: those who can prepare for the unexpected win, while those unable to adapt falter.

While some retailers are ahead in terms of their technical ability, the study shows the retail industry as a whole still has much room for improvement. For example, more than 50% of all retailers surveyed said their current systems were causing a big or somewhat of a problem in all 10 supply chain capabilities presented to them, yet 13% of retailers have not even planned to invest in technology.

"In the shadow of COVID-19, without a vaccine or successful treatment, shoppers will tire of hunkering down at home and start to visit stores as they re-open across the globe in phases, but in far different ways (and in far fewer numbers) than pre-outbreak. So, retailers are in a 'new never normal' environment," said Brian Kilcourse, Managing Partner, RSR. "With such unpredictability, the ability to be agile and model potential outcomes becomes even more important. Retailers need AI-enabled predictive models for things such as labor and transportation costs across the supply chain or finding optimal DC-to-customer locations to lower costs while still satisfying rapidly changing customer needs. AI isnt even the future anymore; it is already here."

With retail habits changing, a process accelerated by the impacts of COVID-19, the current winners in retail are prepared to overachieve once more. Shopping behaviors are rapidly shifting to that of e-commerce, a change which will undoubtably contribute to fluctuations in demand and supply. Retailers with the technology to forecast these changes, model contingency plans and options, and quickly adapt their supply chain strategy to meet new demand and avoid excess supply will win. Those that cannot, risk being left behind with below-target sales figures and losses incurred from waste.

Story continues

"Retailers and other businesses across the world should now embrace that we are in a never normal world. Being prepared for uncertainty, such as continued disruptions from COVID-19, Brexit, trade wars, new market entrants or changing customer preferences must be part of company core competencies," said Sandra Moran, Chief Marketing Officer of LLamasoft. "However, accepting this is not enough: retailers must act to prepare for the unprecedented. This research demonstrates there are clear performance variations between retail winners who have leveraged predictive technologies and enterprise decision platforms to deliver faster and smarter responses to disruptions and new opportunities, and those that have not."

Webinar

Join LLamasoft and RSR for a live webinar on June 30, 2020 at 11:00am EDT titled, "The Case for an AI-Enabled Supply Chain" a deep dive into the study and the results.

Register here: https://llamasoft.com/retail-webinar-with-rsr/

Methodology

For this research, conducted online by Retail Systems Research (RSR) between February 2020 and March 2020, senior figures within the retail industry were targeted, with answers coming from 82 retail executives. Download and read the full report with RSRs recommendations: https://llamasoft.com/retail-benchmark-report/

*In RSR benchmark reports, RSR frequently cites the differences between over-performers in year over-year comparable sales and their competitors. RSR finds that consistent sales performance is an outcome of a differentiating set of thought processes, strategies and tactics. They call comparable sales over-performers "Retail Winners." RSRs definition of these Winners is, assuming industry average comparable store/channel sales growth of 4.5 percent, they define those with sales above this hurdle as "Winners," those at this sales growth rate as "average," and those below this sales growth rate as "laggards," "also-rans," or "all others."

About RSR Research

Retail Systems Research ("RSR") is the only research company run by retailers for the retail industry. RSR provides insight into business and technology challenges facing the extended retail industry and thought leadership and advice on navigating these challenges for specific companies and the industry at large. To learn more about RSR, visit http://www.rsrresearch.com.

About LLamasoft, Inc.

LLamasoft delivers the science behind supply chains biggest decisions. Over 750 of the worlds most innovative companies rely on LLamasoft to design operational strategies to achieve profitability and growth goals. Powered by AI and advanced analytics, LLamasofts decision platform enables business leaders solve problems in new ways and make smarter decisions faster as their business and operating models change. With a true digital twin of the extended supply chain, LLamasoft deploys decision solutions through enterprise ready applications and an extensible no-code App Studio that enables LLamasoft or its customers to rapidly build their own business applications. Its customers have identified more than $16B in value leveraging insights from LLamasofts solutions. And to reach its goal to positively impact 100 million lives by 2022, LLamasoft partners with humanitarian organizations, government entities and the World Economic Forum to design and optimize health supply chains.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200625005480/en/

Contacts

LLamasoft, Inc.Lisa Hajralisa.hajra@llamasoft.com

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73% of Retailers Believe Artificial Intelligence Can Add Significant Value to Their Demand Forecasting - Yahoo Finance

A researcher from Salinas is using artificial intelligence to make college admissions more equitable. – Monterey County Weekly

A little over a week ago, AJ Alvero was thinking about Confederate monuments.

Specifically, he read that a monument honoring Confederate General Robert Selden Garnett was removed from the lawn in front of Colton Hall in Monterey. And then he read the monument was replaced with a plaque that still named Garnett as the designer of the state seal of California, but left out his Confederate legacy. Not good enough, Alvero thought.

A few days later, someone tore out the new plaque and left a sign behind, saying Celebrate real heroes. No place of honor for racists.

Alvero, a doctoral student at Stanford University, says hes not the one who did it. I was very strongly toying with the idea but someone beat me to punch, he says.

It wouldnt be the first time that Alvero acted to strip a Confederate name from a public space.

Growing up in Salinas, Alvero often crossed an intersection that was officially known as Confederate Corners. In the wake of the deadly neo-Nazi rally in Charlottesville, Virginia in 2017, he organized a community effort to change the name of the intersection, enlisting the support of the Monterey County Board of Supervisors. He wanted to call it Campesino Corners to honor the areas farmworkers. The board selected the name Springtown.

The intersection is unremarkable in appearance, and the fact it has a name is not very widely known which is why Alvero thought that renaming would be low-hanging fruit in the effort to undo American racism. But he was wrong and did not anticipate the backlash and vitriol against him.

Now, a few years removed, Alvero is still focused on the power of words and language in our public life. But hes leading a more sophisticated and systemic charge on bias. His target is college admissions and his instrument of change is artificial intelligence.

He recently published a groundbreaking peer-reviewed study that argues its possible to combat bias in the admissions process by analyzing the language used in application essays to detect demographic patterns.

Days before the killing of George Floyd on May 25, which triggered a national reckoning on racism, the University of California took a giant step to address stark disparities in college admissions. By a 23-0 vote, the university systems governing board decided to phase out the use of the SAT and ACT in the admissions process because evidence shows that they drive inequity. A few weeks later, the board voted, unanimously again, to support the restoration of affirmative action in California, which had outlawed the practice in 1996 through Proposition 209.

For university admissions officers, these two decisions increased the focus on evaluating personal essays and circumstances of the hundreds of thousands of applicants they screen each year.

The U.S. Supreme Court, while not exactly endorsing affirmative action, has ruled that consideration of race in admissions is constitutional, as part of a highly individualized, holistic review of each applicants file, giving serious consideration to all the ways an applicant might contribute to a diverse educational environment.

A recent and closely watched lawsuit against Harvard University challenged the use of race as a factor in admissions, claiming the university discriminates against Asian American students. Ultimately, a federal judge, Allison Burroughs, rejected the lawsuit.

In her decision, Burroughs wrote that Harvards process of weighing test scores alongside subjective personal essays survives strict scrutiny.

But, she added, the process could be improved: admissions officers should receive training on recognizing implicit bias. Statistical analysis should be used to discover and counter race-related disparities.

The decision enshrined the continued consideration of race while also raising the bar on what admissions officers must do to achieve fairness. Heres where Alveros research comes in.

Alvero, who studies education, sociology, language and data science, teamed up with other Stanford graduate students to explore how a more equitable future for college admissions might be achieved.

In other words, if SAT scores become obsolete, and personal essays become more central, how can the selection process be improved to survive new constitutional challenges?

Like most scholarly research, the starting point of Alveros academic paper is data.

In this case, the data was 283,676 application essays submitted by 93,136 applicants who identified as Latino or Latina. In the first study of its kind, Alveros team used computational analysis to discover patterns across a mass corpus of essays.

By running the essays through relatively simple computer algorithms, the team found, they could correctly predict the gender and income level of an applicant about four out of five times.

In another fascinating finding, the paper showed which words are more likely to be used by different demographic groups male versus female and low-income versus high-income applicants. And the purpose of admissions essays, it turns out, was originally to keep certain students out.

In an interview with the Weekly, Alvero spoke about his findings and what they mean.

AJ Alveros academic career started at San Diego State University but he soon dropped out. He came back to Salinas to lick his wounds and start over. Eventually, Alvero (left) made his way to Stanford University where he is a fourth-year Ph.D. student studying education and data science. (right) Alvero pushed the U.S. Geological Survey to change the name of this intersection in Salinas from Confederate Corners to Springtown.

Weekly: Artificial Intelligence and big data are complicated topics even for people who have grown up with technology. How would you start explaining your research to your grandparents?

Alvero: Lots of studies argue that standardized tests like the SAT and ACT are biased, by race, by social bias, by gender in certain ways, and that we shouldnt use them in college admissions.

So if thats the case, what about the admissions essay? We have this idea that the admissions essay gives students a chance to talk about their true selves. Yet so far, the essays havent been placed under scrutiny, as the test scores have. Thats where my research comes in.

Why would a language performance, like writing an essay, be less biased or more biased than a test score?

How did you get interested in answering that question?

Ive always been interested in language and social issues. I read about the history of college admissions essays, and they were actually designed at Harvard [in the early 20th century] to filter out Jewish applicants. Its pretty incredible. The president of Harvard was one of these old-money Boston families and he decided, We have too many Jewish students on campus.

He realized that all of his old clientele, which are the very wealthy, white Protestant elites of New England those applicants are not passing the entrance exam. So he created the personal statement, introduced extracurricular activities, introduced the letters of rec all these subjective measures to give WASP elite students a chance. It worked. Jewish enrollment was cut in half.

Thats the history. And I thought, well, these essays are still being used widely.

I also reflected on my time as a high school teacher in Miami helping students write these essays. Students from immigrant backgrounds tended to write about certain things. Students who worked with Teach for America teachers, they tended to write about certain things. So I noticed there was a lot of patterning in the types of narratives that students were deploying in their personal statements.

At Stanford, I got really interested in learning about just using text as big data in computational methods of analysis. There have been advances in computational methods to analyze texts.

But in part, it was me being at the right place at the right time.

What do you mean?

The idea of using written texts as a form of data has become a very popular idea at Stanford, you see a lot of researchers in many different departments and fields leveraging text as data.

But the texts in your study are not Wikipedia articles. What you obtained was much more exclusive, even confidential: Nearly 300,000 admissions essays by self-identified Latino applicants. How rare is that and how did you get them?

I dont want to toot my own horn or anything, but its extremely rare. So, to our knowledge in my lab, were the first ones to use these computational methods on a large collection of admissions essays.

What I did was email a couple of admissions officers, and only one of them got back to me. I can only tell you which university off the record.

Deal. I wont reveal more than what it says in your study, that it was a large public university system. Did the data come with strings attached?

They did come with strings attached. My original pitch was, What are the Latinx kids writing about? There are lots of people under this umbrella, I figured I could get a lot of data, and its a category and a group of people that Im very interested in, partly because Im part of that umbrella as a Cuban American.

So, I asked them, Can I get admissions essays written by Latinx students? And they said, Sure, how many do you want? I said, Ill take all of them. Eventually, I learned they had an interest specifically in Latinx student essays in hope of increasing Latinx enrollment.

So they wanted your expertise, meaning that others could have asked and gotten the essays. Youre the one who went ahead and tried.

I think every university wants to get better at reading these essays. And no one wants to be subject to that kind of lawsuit like Harvard. No one wants to face that kind of scrutiny.

You ran the essays through the algorithms and found that they were able to predict something really interesting. Can you tell me about that?

We found that even a relatively simple machine learning algorithm was able to predict the gender of the applicants about 80 percent of the time and whether or not they were above or below the median income, which was a proxy for higher or lower income, about 70-something percent of the time.

Boy Scouts and foreign countries, thats basically what the higher income applicants are writing about (see diagrams, p. 26). And with boys, some of the words most associated with them were hardware, chess, Lego and Rubiks Cube. If we were to survey every single college admissions essay reader in the country and ask, what do you think about if a student wrote about chess? How would you describe that student? They might read chess, Rubiks Cube, hardware, Legos. And they might think, Wow, this is a very intellectual person.

What the data is showing is that are also words that boys are just using much more often than girls. Do our admissions readers realize this? Are they being trained to recognize this? On the flip side, theres makeup and cheerleading. Do people think makeup is also intellectual and very engaging? I dont think so.

I also found it fascinating that girls are talking about being girls, using words like Latina, daughter and female but boys are not bringing up their gender.

Yes, and are our admissions officers being trained for this? Do they even know this? I think the answer is no. Im hoping to connect this research to actually practice in college admission.

An analysis of word frequencies across nearly 300,000 personal essays revealed which words were most characteristic of different demographic groups.The top left were the words favored by female applicants, the top right by male applicants. The bottom left were words used more frequently by higher-income applicants, the bottom right by lower-income applicants. (ELD and ETS are acronyms related to English language learners.) The size of each word reflects the frequency of use.

How would you do it?

Its very complicated and no ones really sure if and how its going to work. But a common practice in college admissions right now is when an application reviewer is looking at test scores and GPAs from an applicant, theyll also have some contextualization.

For example, lets say a kid gets a pretty solid but not fantastic SAT score. How did everyone else at that school do? Maybe that kid didnt get a perfect score but its way better than everyone else did at their school. Then an admissions reviewer could take that into account. That would be the idea: trying to contextualize the essays. Because at the moment, we dont have anything close to that.

What if you took potential insight from the algorithm, and combined that with human insight? Maybe thatll be better. We have got to find out. So thats what Im trying to be the person to find out.

How does this pursuit connect to the fact that you are Latino and were born and raised in Salinas?

I dont want to just straight-up talk smack about Salinas. But there was a lot of prejudice and there were a lot of biases and stereotypes and racism against Mexican people and Central American people.

The way it would work for me was almost like two-factor authentication, like where you first type in your password, but then it needs a code from your phone. Im fair-skinned and have light eyes. And a lot of people will look at me and be like, Oh, yeah, no, youre not Mexican.

But then I start talking, or mention Im Cuban. Ah, you pass the first password. But the second, no ones answering the call. Lots of my friends growing up, they never got past that first step of the password. But for me, I was able to move in and out of the crowd.

Seeing the treatment of Mexican Americans always bothered me so much. And, I always hoped that I could be in a position where I can speak out on it and people would hear me. Im hoping this research can be my first big way to do that.

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A researcher from Salinas is using artificial intelligence to make college admissions more equitable. - Monterey County Weekly

Twitter is bringing in more in-stream ads using Artificial Intelligence – Digital Information World

Lately, people have noticed an increase in the number of ads in their Twitter feed (and even on users profile pages). Twitter has slowly been increasing its ad load for some time now, but it seems that in recent weeks, it had increased more than usual.

Twitter was asked about this, and they responded that their team regularly experiments and makes changes to their advertisement experience while also holding up their principles and standards for a high-quality experience for the users. Also adding that they are constantly testing and innovating, and will keep doing it and learn from it.

This means that as Twitter is trying new display methods, users are looking at more ads in their Twitter feed. One reason for this can be Twitters need to address slowing ad spend as a result of COVID-19. In its Q1 report earlier this year, Twitter reported a slight decline in ad spend. It noted that the advertising income reduced by 27% Year-over-Year from March 11th until March 31st. This is because of events around the world canceling and sheltering in place in the US.

Twitter is being affected by fewer businesses in operation because of the lockdowns, specifically from fewer sports and events taking place. In order to generate more revenue, it needs to increase the number of ads while simultaneously capitalizing on increased usage during the outbreak.

There is a 24% increase in usage reported in Q1, meaning that ad exposure opportunity for the remaining operating businesses is present, and with increased usage, Twitter can capitalize on this. So, the users can expect to see more Promoted tweets in-stream while the advertisers can have more opportunities to increase exposure to the Twitter audience which is more active than usual.

Twitter will likely maintain such increases in ads to maximize revenue generation if usage levels remain stable. And if they remain stable, you can bet that Twitter will look to maintain any such increases moving forward, as a means to maximize revenue potential. Additionally, Twitter has announced that it will show users more relevant content, based on their activity.

Twitter explains that in the apps default configuration, the users home timeline will show the top Tweets first. The system uses a machine learning model to predict what tweets will interest them the most based on their activities. The model needs to learn this via training and must be constantly updated due to user interest changing all the time. Twitter also added that they have reduced the time required to refresh this model from 7 days to about a day by redesigning the data logging pipeline. This upgrade will make Twitter feed more up-to-date with rapidly changing interests and time.

Twitter says that their new model is much better as compared to their old model in terms of training and real-world prediction after the refresh of the model. Also adding that newer data and models are favored by users, who come to Twitter for the most up-to-date information.

Although there will be more ads in-stream, it will be more relevant in general, based on the new algorithms. Twitter does seem to give more relevant information (except a few tweets that pass through the filter) based on the topics selected displayed in the Explore tab. It will still interesting to see if it changes with the upcoming updates.

Photo: Omar Marques/SOPA Images/LightRocket via Getty Images

Read next: Twitter Is Testing An Instagram-Inspired Feature To Sift Unwanted Messages

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Twitter is bringing in more in-stream ads using Artificial Intelligence - Digital Information World

When will artificial intelligence come to the commercial greenhouse industry? – Urban Ag News

Watching news reports on the COVID-19 pandemic one quickly realizes the importance accurate data plays in our everyday lives. Most industries are data-driven, whether this data relates to business management or specific production-related operations.

For the horticulture industry, data is an integral part of ensuring greenhouse facilities operate at maximum capacity. Unfortunately, growers have limited access to the data being collected in their greenhouses and are unable to utilize this data in a way that could help them increase operation efficiency and yields.

The data being collected by greenhouse growers is being siloed, meaning the data is stored in different closed systems, said Ken Tran, founder of Koidra LLC. These closed systems dont communicate with each other and growers do not have a way to unify the data for whatever purpose or whatever analysis they might want to do. This can be greenhouse environmental data, biological data or business management data.

For climate control data, it is not uncommon to have this type of data living in different systems as well. For example, growers can have climate control data such as temperature and relative humidity in one system. The data for lighting supplied by another company may be in a different system. There are many lighting companies that provide their own controls. Most companies that growers are familiar with dont want to expose the data that is being collected in a way that the systems can talk to each other.

Limiting data analysis

Another critical problem with data being siloed is even if the growers data is in one system growers may not be able to do data analysis. In most cases, the only way the data is available is to export it to Excel files, which is very limiting.

Climate control data is collected automatically and put in a system, Tran said. Depending on the type of climate control system that is used, data is collected in a database that is hidden under the interface of the climate control company. Growers are limited by what the climate control company interface will provide.

If growers want to use the data, the systems can only provide limited capability in terms of data analysis. Growers may be only able to look at the data from one seasons crop. But the climate control software will not allow growers to build predictive models from the data. The only way growers can build predictive models is to be able to access the database. Growers should be able to use their data however they want.

Giving growers access to their data

Tran said most growers are dealing with multiple databases depending on the type of data that is being collected.

If a companys expertise is in climate control management it makes sense that the company doesnt focus on biological management data or business management data, he said. The best way to move forward is for these companies to open their data interfaces to the growers so that growers truly own their data. This would allow growers to access the databases so that they can hire third party companies to do data integration.

Even though this is the best way for growers to access their data, its not the only way. Koidra offers data integration service as part of its umbrella autonomous greenhouse product to overcome this problem. It doesnt necessarily require the companies maintaining the data to open their data interfaces.

According to Tran, this situation is not unique to horticulture and is common in industries that have fallen behind in the technology curve. Some industries are more advanced when it comes to being tech savvy. Agriculture and some older manufacturing industries may have issues with the digital transformation curve.

Tran said many climate control companies see the trend toward artificial intelligence (AI) and they want to be able to expand their capabilities to the growers.

The notion of data management and leveraging data analytics and machine learning are new, he said. A few years ago these topics werent even being considered by these companies. I havent yet seen the need for data management. There hasnt been a demand from the growers to have access to this data. Even if they had access to this data what would they do with it? Most growers dont have the capabilities to build their own predictive models.

Some growers would like to work with companies that can do the analytics. Only a very few well-funded indoor vertical farm companies have chosen to develop complete in-house systems so that they can have more control over their data. Many companies want to have more control over their data and would like to do more with their data.

Tran said growers can only truly own their data when:

1. They can store and transfer their data however they want.

2. They can query their data to get better insights however they want.

3. They can use whatever tools on their data as they want.

All of these require a programmatic interface to the data storage systems, which is currently lacking.

Building an autonomous greenhouse

The internet of things (IoT) is a network of interconnected devices that is embedded in sensor software that enables them to collect and exchange data making them responsive.

IoT can be thought of as a system that enables automated, real-time and high-frequency data collection, Tran said. One type of device is a temperature sensor. Using this sensor there wouldnt be a need to have humans collecting and inputting data. The sensor is connected to a network and it can transfer the data to the growers database automatically. It can communicate temperature data to growers or to their systems. IoT can be thought of as systems that enable automated, real-time and high-frequency data collection.

Every business is connected to the internet. With the right data management infrastructure, growers should be able to get the right information at the right time from anywhere and on any device. Once full situational awareness of the business occurs, the business can effectively be managed remotely.

Manual data collection or no data collection at all is the opposite of IoT. Manual data collection is not done in real time, is done infrequently and is expensive to do.

IoT is an enabler for high-speed, high-volume and low-cost data collection, Tran said. This would allow growers to develop AI applications that leverage big data. AI capabilities can only be realized after the right information infrastructure (IA) is created. As the AI community tends to say, There is no AI without IA. The fact that IoT is being adopted heavily in the greenhouse industry makes AI even more attractive.

Tran said what will drive the development of autonomous greenhouses is what greenhouse owners and operators want.

They want higher profits and yields and lower operational costs, he said. During the first International Autonomous Greenhouse Challenge in the Netherlands it was shown that an autonomous greenhouse program can produce higher yields and higher resource usage than expert growers.

During the competition the winning Project Sonoma team, led by Tran, outperformed a team of expert Dutch growers. The Sonoma team produced more than 55 kilograms of cucumbers per square meter. The net profit on the cucumbers for the Sonoma team was 17 percent higher than for the team of Dutch growers.

But not every autonomous greenhouse is efficient.

An autonomous greenhouse can be less efficient than a good grower, Tran said. This was shown by the results of the Autonomous Greenhouse Challenge. The Sonoma team was the only one that outperformed the expert growers. All the other teams did worse than the growers.

All companies want their businesses to be more automated, more scalable and more efficient. This is where AI, built upon rich IoT and crop management data, can help. A good AI program not only provides the value of automation, but higher efficiency as well.

Is the commercial greenhouse industry ready for AI? Tran thinks so.

Its already happening, demonstrated by the Autonomous Greenhouse Challenge, he said. Innovative companies that offer both data integration and AI services can help make that reality faster for greenhouse growers.

For more: Ken Tran, Koidra LLC, (512) 436-3250; ken@koidra.ai.

This article is property of Urban Ag News and was written by David Kuack, a freelance technical writer in Fort Worth, Texas.

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When will artificial intelligence come to the commercial greenhouse industry? - Urban Ag News