Category Archives: Ai

The coronavirus pandemic hit the global economy hard in 2020, but the economy may be close to consolidating years of technological advances and ready to take off in a burst of productivity growth.

Why it matters: Productivity is the engine that makes the economy grow for everyone. If long-gestating technologies like AI and automation really are ready to fulfill their potential, we'll have the chance to escape the great stagnation that has choked our economy and poisoned our politics.

What's happening: Hidden in part by the human and economic suffering of the pandemic, 2020 saw a collection of remarkable technological breakthroughs, including a mRNA vaccine for COVID-19 and advances in AI language generation.

Context: In a blog post published last month, the economist Tyler Cowen added in a few others, including affordable solar power and remote work, and asked whether total factor productivity (TFP) a rough approximation of the effect technological and strategic progress has on economic productivity in 2021 "will be remarkably high, maybe the highest ever?"

Flashback: After a few postwar decades of scorching growth, labor productivity began to decelerate sharply in the 1970s, and aside from a period of 3% growth in the mid-1990s to early 2000s which economists attributed to the widespread effects of the computer it's stayed mired at about 1.2% a year ever since .

It looks increasingly possible that the last decade plus of sluggish productivity growth isn't a sign that the benefits of new technology have permanently plateaued, but that businesses were using the time to invest in and adjust to those new advances and that we may now be ready to reap the benefits.

What they're saying: "Often times in the short term it can be costly to invest in new business processes and skills, and during that time you won't see productivity rising," Byrnjolfsson told me earlier this year.

By the numbers: A survey by the World Economic Forum in October found more than 80% of global firms plan to accelerate the digitization of business process and grow remote work, while half plan to accelerate automation.

The catch: If those gains don't filter down to workers or worse, end up eliminating jobs without replacing them with better ones even a faster, more productive economy won't ameliorate the inequality-driven political divisions that have dogged the U.S. in recent years.

The bottom line: As bad as 2020 has been, we may look back upon it as the year that finished the launchpad for a new Roaring '20s.

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The coming tech-driven productivity leap - Axios

Interested in the fast-growing field ofArtificial Intelligence(AI)? With so much under its umbrella, mastering the many aspects of AI can be cumbersome and even confusing. Truly understanding the vast world of AI meanslearning about its various subsets, how they are interconnected and what happens when they work together.

Its an exciting idea, but where does one start? Take it from here:become a certified AI scientistwith The Ultimate Artificial Intelligence Scientist Certification Bundle. The four featured courses are packed with 670 lessons covering Deep Learning, Machine Learning, Python and Tensorflow. Designed for all skill levels, the courses cover everything from the basics to real-world examples and projects. Over 1,000 students have already enrolled in this highly-rated bundle, which we break down below.

Deep Learning is at the heart of Artificial Intelligence, the key to solving the increasingly complex problems that will inevitably come up as AI advances. This course features a robust load of 180 lectures so you can gain a solid understanding of all things Deep Learning. For example, the course includes lessons on the intuition behind Artificial Neural Networks as well as differentiating between Supervised and Unsupervised Deep Learning. Youll work on real-world data sets to reinforce your learnings, including applying Convolutional Neural Networks and Self-Organizing Maps. Over 267,000 students have seen success from this course, with 30,368 positive ratings.

Learn from the best in this Machine Learning course, which was expertly designed by two data scientists. Take the reins on all the algorithms, coding libraries and complex theories with an impressive 40 hours of content. Youll Master Machine Learning on Python and R (two open-source programming languages) and also learn to handle advanced techniques like Dimensionality Reduction. At the end of this class, youll be able to build powerful Machine Learning models and know how to fuse them to solve even the most complex problems. The step-by-step tutorials have garnered 119,297 positive ratings from 653,721 students.

You've likely heard of Python, the super-popular and beginner-friendly programming language that any aspiring AI expert should be familiar with. The 73 lessons in this foundational course designed for all skill levels are crafted to build upon each previous lesson, ensuring you grasp and retain everything you learn. Get comfortable with the core principles of programming, learn to code in Jupiter Notebooks, understand the Law of Large numbers and more. By the time you take the last lesson, youll have a deep understanding of integer, float, logical, sting and other types in Python, plus know how to create a while() loop and a for() loop.Trust the 15,307 positive ratings from 111,676 students enrolled.

Consider this your complete guide to the recently-released Tensorflow 2.0. The course, complete with 133 lessons, starts with the basics and builds on this foundation to cover topics ranging from neural network modeling and training to production. Ultimately, youll be empowered with the know-how to create incredible Deep Learning and AI solutions and bring them to life. One really cool aspect of this hands-on course is that youll have the opportunity to build a bot that acts as a broker for buying and selling stocks using Reinforcement Learning. Take a cue from the 185 positive ratings from 1,579 students and follow suit.

This bundle is a great deal not only because buying even one of these courses separately would break the bank, but also because you'd only get a segmented view of the excitingly wide world of AI.

Right now, you can getThe Ultimate Artificial Intelligence Scientist Certification Bundlefor $34.99, down 95% from the original MSRP.

Prices subject to change.

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Become An Expert In Artificial Intelligence With The Ultimate Artificial Intelligence Scientist Certification Bundle - IFLScience

Artificial Intelligence will play a pivotal part in allowing the radiology departments to cope with the ever-increasing amount of diagnostic imaging procedures, considering the persistent lack of radiologists in many countries.

FREMONT, CA: Healthcare seems to be important in all areas where Artificial Intelligence (AI) is promising. This likelihood is because healthcare services are overwhelmed by workforce shortages, inadequate medication, increased patient burdens, and inaccurate diagnosis, all of which may help a degree by modern technologies.

Imminent prospects for AI in healthcare comprise health assistance and medication management, drug development, precision medicine applications, and helping people make healthy choices. There has been a spike in the volume of organizations working on the production of AI in healthcare.

Critical AI Applications in Healthcare

Several hundred companies are involved in the creation and marketing of AI technologies for the health sector in a variety of fields:

1. Workflow Solutions: With the mass of knowledge found in the EMRs and the intersection of AI to compile the information, doctors, practitioners, nurses, patients, and others can make more informed choices about health diagnosis, delivery, and personal wellbeing and disease management.

2. Population Health Management: Population health is a concept used to classify particular patients and groups of patients who are more likely to need medical intervention to remain healthy. If these patients have been detected, healthcare professionals will target them appropriately to obtain favorable outcomes.

The public health institution sees population health as an interdisciplinary, customizable strategy that enables health departments to connect practice to change policy locally. This strategy uses non-traditional collaborations between various community sectors, such as public health, business, academia, health care, local government, and others to achieve meaningful health results.

3. Diagnostics, Imaging, and Disease Management: It is becoming increasingly evident that AI will change the diagnostic imaging sector, both in terms of increased efficiency, increased diagnostic precision, more tailored patient planning, and, eventually, enhanced clinical outcomes. AI will play a pivotal part in allowing the radiology departments to cope with the ever-increasing amount of diagnostic imaging procedures, considering the persistent lack of radiologists in many countries. Following the implementation of deep-learning technology and inexpensive cloud computing (graphic processing units) and storage, the speed of product growth for AI-based medical image analysis software is faster than ever.

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Here's How AI is Lending a Hand in Healthcare - Healthcare Tech Outlook

Eli Kirshbaum | Dec 28, 2020

At the Center for Cancer and Blood Disorders in Texas, providers are utilizing artificial intelligence to determine risk paths for cancer patients, according to HealthITAnalytics. A survey revealed that cancer patients experience high levels of anxiety, depression and financial struggles. The AI system, provided by Jvion, aims to provide a holistic view of cancer patients health and identify at-risk patients based on clinical and socioeconomic factors.

We realized very quickly that if we were going to successfully control costs and provide high-quality healthcare for cancer patients, we would have to risk manage our patients, Ray Page, PhD, an oncologist and hematologist at the Center for Cancer and Blood Disorders in Forth Worth and Weatherford, told HealthITAnalytics. Its mandatory that we identify our most vulnerable patients the ones that are most likely to get sick and have adverse outcomes to better manage them.

In the aforementioned survey, 50.7 percent of cancer patients said they experienced anxiety symptoms and 46.8 percent said they experienced depression symptoms. HealthITAnalytics cites an additional study in which 38 percent of surveyed cancer patients said they have suffered financially because of the pandemic and have had difficulties paying for needed services.

According to HealthITAnalytics, caseworkers review and check in with at-risk patients on behalf of the organization. They make sure patients are doing well and offer them ancillary services.

The organization has numerous additional resources including a patient navigator, a social worker, a nutritionist, a psychologist, a pain doctor, an acupuncturist, on-site rehabilitation and pre-rehabilitation for patients about to get chemotherapy and radiation, Page told HealthITAnalytics.

Page said that the AI tool allows doctors to gain information on things like a cancer patients life situation, their finances or their nutrition. According to him, this information is not easily gained from short routine visits with patients.

Our physician board has, in essence, pre-prescribed orders, Page told HealthITAnalytics. If we have a case worker or a case manager that identifies one of our patients as being high risk in a certain vector, an automatic consult occurs. A physician doesnt have to make that call; its already a standing order. That makes the whole clinical workflow and the clinical process smoother and easier.

According to Page, AI will continue to improve and assist oncologists in providing better treatment for cancer patients.

As we learn and become more efficient with these tools, and we start analyzing more real-world data, the technology is going to continue to be integrated into cancer centers and clinics, he told HealthITAnalytics. AI will optimize outcomes and make cancer-related outcomes better for everybody. Tools like these allow us to proactively identify patients that are depressed, and approach and manage them so they can have the best mental state as theyre dealing with their cancer.

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A Texas facility is using AI to improve mental health outcomes for cancer patients - State of Reform - State of Reform

Sunday, December 27, 2020

Dr. Milind Antani, Darren Punnen and Shreya Shenolikar of Nishith Desai Associates have analysed the key regulations applicable to the Indian pharma, medical device and health-tech industry in a multi-part podcast series. The series starts off with the basics of pharmaceutical and medical device regulation and subsequently delves deeper into the regulation of various aspects of the industry. Each episode begins with an overview of applicable regulation, how the regulation applies to the industry and ends by providing some practical inputs on how stakeholders should approach this space.

Episode Introduction: In addition to common digital health tools such as e-pharmacies and telemedicine, Indias private sector is increasingly looking into emerging health-tech such as AI and 3D Printing. While these technologies are not specifically regulated as of yet, there is an ad-hoc regulatory framework that applies to them.

At present, the biggest hurdle to the adoption of AI for healthcare purposes is the lack of infrastructure to maintain electronic health records. Nonetheless, there also various initiatives in the pipeline to increase the adoption of digital health technologies in general.

In this podcast, Darren Punnen discusses the challenges in making AI and 3D Printing enabled tech a reality in India and the steps taken so far to overcome those challenges. This includes an in-depth discussion of the various digital health policies sought to be implemented in India and the impact of such policies.

Darren also covers the scope and potential of 3D Printing in India, including the different applications this technology may have in the manufacturing of personalised medicine and medical devices.

The podcast specifically covers:

The potential for AI in India and the hurdles towards AI becoming a reality in India.

The need for adopting electronic health records in India.

The initiatives taken by the government to encourage the adoption of digital health technologies in India e.g. National Health Stack and the National Digital Health Blueprint.

The regulation of 3D Printing under Indias existing drug and medical device regulatory framework.

Your browser does not support the audio element.

Nishith Desai Associates 2020. All rights reserved.National Law Review, Volume X, Number 362

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Digital Health in India: Emerging Technologies (AI and 3D printing) [Podcast] - The National Law Review

MIAMI, Dec. 28, 2020 /PRNewswire/ --Heru, Inc., a 3 Seasons Capital, LLC portfolio medical technology company, has received Class 1 listing with the U.S. Food and Drug Administration (FDA) registration for developing a next-generation, artificial intelligence (AI)-driven platform for vision diagnostics and augmentation. Heru is the first diagnostic application for visual field exams.

Under the direction of a physician, patients easily and quickly takeHeru'sAI-powered visual field test using cloud-based, augmented/virtual reality with a wearable device. Their physicians can then immediately access the results.www.seeheru.com

According to JAMA Ophthalmology, more than 50 million patients in the U.S. and 450 million worldwide experience visual field defects and strabismus from glaucoma, stroke(s),age-related macular degeneration (AMD), diabetesand retinitis pigmentosa. Heru's convenient, accurate and validated AI software platform is ideally positioned to enable exponential access and scale for critical eye health diagnostics, screening, and visual augmentation for these patients.

Heru'sAI platform was developed by the leading minds in ophthalmology from the Bascom Palmer Eye Institute, a University of Miami Hospital and Clinics facilityranked number one in ophthalmology and recognized as a global leader in vision research, medical education, and patient care to alleviate significant bottlenecks and gaps in current patient care. Most importantly, the platform provides cost-effective scale to reach every patient in need of care.

"Gone are the days where large and cumbersome devices occupy exam rooms and medical-grade furniture," saidEduardo C. Alfonso, M.D., Professor and Chairman of the Bascom Palmer Eye Institute."Heru'smodern approach to diagnostics enables eye care professionals to deploy light-weight cloud technology both virtually and in person, saving time and space while maintaining the clinical standard of care," added Dr. Alfonso.

With initial fundingby 3 Seasons Capital, LLC, Heru was founded in 2018 and is led by Mohamed Abou Shousha, MD, FRCS, PhD., an expert in vision diagnostics and augmentation. He is an Associate Professor of Clinical Ophthalmology, Electrical and Computer Engineering, and Biomedical Engineering at the Bascom Palmer Eye Institute and Director of the AI and Computer Augmented Vision Lab.

About3 Seasons Capital LLC

3 Seasons Capital LLCis anearly-stageventure capitalcompany led by Fred Drasner, Chairman.Three Seasons Capital LLC has investments in the Companies described below. Mr. Drasner serves asa Board member or ManagingMember of each Company.

Heru, Inc, adevelopment company in ophthalmology, with patented technology inAutonomous Diagnostics andAugmented Reality Eyewear powered by patented AI software that restores sight to individuals with diseases of the eye. http://www.seeheru.com

Resolve Ophthalmics LLC, a development company in ophthalmology, with patented diagnostic software for the diseases of the anterior segment of the eye and a new device for optical coherence tomography (OCT);

Cosmeceutical Technologies, LLC,acompany with patented consumer products in the nail health and skincare fields.www.doctorsklineandgreen.com

Vetceuticals LLC,a development company in the animal health fieldwww.thevetstore.com

Triggermaster, LLC,a company holding patented sensor technology for training in firearms proficiency for police and military and consumers.www.thetriggermaster.com

Three Seasons Healthcare LLC,a company providing personal protective equipment and sanitizer products in the consumer and commercial markets.www.3shc.com

Media Contact:Ken Frydman917-626-4270ken@sourcecommunications.net

View original content:http://www.prnewswire.com/news-releases/heru-inc-a-3-seasons-capital-llc-portfolio-medical-technology-company-receives-class-1-listing-with-the-fda-for-developing-a-next-generation-artificial-intelligence-ai-driven-platform-for-vision-diagnostics-and-augmentatio-301198806.html

SOURCE 3 Seasons Capital LLC

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Heru, Inc., A 3 Seasons Capital, LLC Portfolio Medical Technology Company, Receives Class 1 Listing With the FDA for Developing a Next-Generation,...

As video conferencing becomes the default way to engage others, the number of organizations that want a free video call to last more than 40 minutes is starting to rise.

RingCentral, as part of an effort to woo end users away from Zoom, is now offering a RingCentral Glip Pro service that allows a free video conferencing call involving as many as 100 people to last as long as 24 hours. Naturally, most of those calls wont last that long, but for organizations looking to run meetings that might last several hours thats going to be an attractive option.

Organizations will, for example, be able to easily reconvene a meeting during the day, says William Moxley, chief product officer for RingCentral. Meetings can persist to the next day, he adds.

Also read: SaaS Platforms to Help Kickstart a Small Business

There is, however, another reason why RingCentral also has a vested interest in encouraging users to stay on its platform. RingCentral has acquired DeepAffects, a provider of an artificial intelligence (AI) tool that analyzes and extracts insights from video conference conversations. The more conversations that occur on the RingCentral platform the more accurate those insights will become. Those platforms will soon employ a bevy of AI technologies to do everything from automatically transcribe notes to translate different languages spoken between participants.

In general, RingCentral is trying to position itself as a provider of carrier-grade collaboration services that are more secure than rival platforms. RingCentral requires end users to employ a browser that complies with the WebRTC transport protocol to encrypt data. That approach also creates a more seamless user experience because there is no need to install client software to access RingCentral services, says Moxley.

The irony in all this is that at one time RingCentral resold the Zoom service as part of its broader portfolio of collaboration tools. Now the company provides a video conferencing service that is more tightly integrated with the rest of its team messaging, file sharing, contact, task, and calendar management tools. Like every provider of the platforms, the goal is to expand way beyond providing video conferencing services. All of that data, of course, is also used to train AI models that promise to one day provide a better user experience. In effect, everyone will soon have their own equivalent of a digital assistant that knows a lot more about them than either Apples Siri or Amazons Alexa.

Of course, assistants also tend to know a lot about the people that hire them. In this case, the assistant is a cloud service that people are trusting with their secrets. If someone knows, for instance, when and where someone is meeting another person they can guess the intent of that meeting. In countries where kidnapping is a major issue such a breach might have some very dire consequences.

It may be awhile before everyone gets the equivalent of their own personal digital assistant. Most people will welcome them. However, it is also worth remembering that those digital assistants, like it or not, will soon know more about you than anyone else alive, including your loved ones.

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Collaboration Platforms Will Evolve into Digital Assistants Thanks to AI - IT Business Edge

Penn State University pals Brad Bogolea and Mirza Shah were living in Silicon Valley when they pitched Jeff Gee on their robotics concepts. Fortunately for them, the star designer was working at the soon-to-shutter Willow Garage robotics lab.

So the three of them - Shah was also a software engineer at Willow - joined together and in 2014 founded Simbe Robotics.

The startup's NVIDIA Jetson-powered bot, dubbed Tally, has since rolled into more than a dozen of the world's largest retailers. The multitasking robot can navigate stores, scan barcodes and track as many as 30,000 items an hour.

Running on Jetson enables Tally to be more efficient - it can process data from several cameras and perform onboard deep computer vision algorithms. This powerful edge AI capability enhances Tally's data capture and processing, providing Simbe's customers with inventory and shelf information more quickly and seamlessly while minimizing costs.

Tally makes rounds to scan store inventory up to three times a day, increasing product availability and boosting sales for retailers through reduced out of stocks, according to the company.

'We're providing critical information on what products are not on the shelf, which products might be misplaced or mispriced and up-to-date location and availability,' said Bogolea, Simbe's CEO.

Using Tally, retail stores are able to better understand what's happening on store shelves, helping them recognize missed sale opportunities and the benefits of improved inventory management, said Bogolea.

Tally's inventory data enables its retail partners to offer better visibility to store employees and customers about what's on store shelves - even before they enter a store.

At Schnuck Markets, for example, where Tally is deployed in 62 stores across the midwest, the retailer integrates Tally's product location and availability into the store's loyalty app. This allows customers and Instacart shoppers to determine a store's availability of products and find their precise locations while shopping.

This data has been helpful with addressing the surge in online shopping under COVID-19, enabling faster order picking through services like Instacart, helping to more quickly fulfill orders.

'Those that leverage technology and data in retail are really going to separate themselves from the rest of the pack,' said Bogolea.

There's an added benefit for store employees, too: workers who were previously busy taking inventory can now focus on other tasks like improving customer service.

In addition to Schnucks, the startup has deployments with Carrefour, Decathlon Sporting Goods, Groupe Casino and Giant Eagle.

AI is the key technology enabling the Tally robots to navigate autonomously in a dynamic environment, analyze the vast amount of information collected by its sensors and report a wide range of metrics such as inventory levels, pricing errors and misplaced stock.

Simbe is using NVIDIA GPUs from the cloud to the edge, helping to train and inference a variety of AI models that can detect the different products on shelves, read barcodes and price labels and detect obstacles.

Analyzing the vast amount of 2D and 3D sensor data collected from the robot, NVIDIA Jetson has enabled extreme optimization of the Tally data capture system and has also helped with localization, according to the company.

Running Jetson on Tally, Simbe is able to process data locally in real time from lidar as well as 2D and 3D cameras to aid in both product identification and navigation. And Jetson has reduced its reliance on processing in the cloud.

'We're capturing at a far greater frequency and fidelity than has really ever been seen before,' said Bogolea.

'One of the benefits of leveraging NVIDIA Jetson is it gives us a lot of flexibility to start moving more to the edge, reducing our cloud costs.'

Learn more about NVIDIA Jetson, which is used by enterprise customers, developers and DIY enthusiasts for creating AI applications, as well as students and educators for learning and teaching AI.

Disclaimer

Nvidia Corporation published this content on 28 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 December 2020 19:44:01 UTC

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AI on the Aisles: Startup's Jetson-powered Inventory Management Boosts Revenue - Marketscreener.com

in 2020, robotics and their artificial intelligence truly became humans best friends and even saviors in many instances. the bots proved to be more than just cool gadgets; they evolved to step in as doctors, law-enforcement and builders as the world was and still is battling to understand, control and live with COVID-19. our TOP 10 robotic and artificial intelligence stories of 2020 highlight these moments of positivity. they showcase our smart technologies in function, from artistic, musical and conceptual through to the down-right practical.

continuing ourTOP 10round-ups of 2020, we look back at 10 virtual and augmented reality stories that attracted our and, most importantly, designboom readers attention over the past 12 months.

images via bas uterwijk

based in amsterdam, bas uterwijk is a freelance photographer that uses GAN (generative adversarial network) to generate hyper-realistic portraits of famous historical figures.trained with thousands of photographs, these deep learning networks are able to generate photographs that look at least superficially genuine to the human eye. from michelangelos david and napoleon to the statue of liberty, uterwijk usesartificial intelligenceto create photography-type images that might give us an idea of how these people really looked like.

image courtesy of UVD robots

out TOP 10 robotic and artificial intelligence stories of 2020 needed to include our battle against coronavirus. as the world was faced with the initial challenge of COVID-19 as the pandemic first started robots began to be designed to help the fight by disinfecting hospital rooms with concentrated UV light.developed by danish companyUVD robots,the autonomous machines are used as part of regular cleaning cycles and are extremely helpful at preventing and reducing the spread of infectious diseases, viral infections, bacteria and other types of harmful organic microorganisms in the environment by breaking down their DNA-structure.

image courtesy of BBT

the business breakthrough university in tokyo, who werent allowed to have a traditional graduation ceremony due to coronavirus, used remote controlled robots to hold a virtual graduation. also referred to as avatar robots, students called into the ceremony using video-conferencing tool zoom to display their faces on the mobile devices. the newme telepresence robots were designed byANA group and work as remotely controlled, customizable avatars. the robots, which were dressed in typical graduation caps and gowns, used tablets in place of the face allowing the students to see one another.

screenshot the strait times

as a bot that featured many times throughout 2020, the boston dynamics spot dog was a must-feature in our TOP 10 robotic and artificial intelligence stories of 2020. the brand explored its many different uses: first we reported how the dog bot is protecting frontline healthcare workers by helping doctors treat infected patients by minimizing their exposure; then, the strait timespublished a video of how singapore is deploying them at the bishan-ang mo kio park to remind visitors of safesocial distancingmeasures.

image aaron hargreaves / foster + partners

architecture firmfoster + partners has also been using spot boston dynamics agile robot dog as a tool to capture and monitor construction progression on-site.the two companies have been working together to explore the potential of a robot in a dynamic environment such as a construction site, capturing changes on a regular basis, and being able to easily compare the as-designed models against the as-built reality.

image bylucianr/ BIG

terminus group, a chinese technology firm,unveiled a design by bjarke ingels groupfor its future headquarters in chongqing,china.named AI CITY, the development will be dedicated to terminus aspirations in the fields ofartificial intelligenceof things (AIoT),robotics, networking, and big data. the first phase of the hi-tech campus, dubbed cloud valley, takes inspiration from the regions undulating landscape.

edge innovations a san francisco-based design, development, and production studio has delivered some of the worlds most innovative, technical and artistic creations to visionaries including james cameron andfrank gehry.the team, led by formerwalt disney imagineeringcreatives, has been working on a hyper-realroboticdolphin intended on reimagining the entertainment, educational, and business potential of the marine animal industry. these real-time animatronics (or mechatronic puppets) bring together live puppeteering, programmed behavior, andartificial intelligenceto create a totally unique experience.

image courtesy of microsoft

bjrk collaborated with microsoft to create AI-generated music based on on the changing weather patterns and position of the sun. called krsafn, which means choir archive in icelandic, the composition will be played continuously in the lobby of sister city, a hotel in new yorks lower east side that opened in the spring of 2019.krsafn uses sounds from bjrks musical archives, which she has compiled over the last 17 years, to create new arrangements.

images courtesy of neofect

koreon start-up neofect developed a roboticglove which can help patients suffering from paralysis for grabbing and picking up the product prototype, named neomano, is a smart glove designed to help those rehabilitating after a stroke and spinal cord injuries (SCI).SCI can cause weakness or complete loss of muscle function and loss of sensation in the body below the level of injury, among others.

image courtesy ofpixabay

our TOP 10 robotic and artificial intelligence stories of 2020 would not be complete without mention of the black lives matter movement. a giant gundamrobot showed its first signs of life in footage shared on social media. modeled after a character from mobile suit gundam, a 1979 televised anime series, the 18-meter-tall (59 ft) robot has been under construction in the japanese city of yokohama for years. filmed at the gundam factory yokohama, the speeded-up video shows the automaton taking a knee before demonstrating its ability to move its arms, hands, and fingers.

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TOP 10 robotic and artificial intelligence stories of 2020 - Designboom

The shift to AI-powered technology is rapidly taking over the mortgage industry with leaders turning to machine learning to increase efficiency amid COVID-19. With the move toward a remote workforce and the real estate market booming, this technology is an important way to create a competitive advantage. Artificial intelligence can elevate your customer experience, reduce reliance on labor-centric solutions and streamline decision making.

In this discussion, John Heck, Senior Advisor of Lending Solutions for Capacity, sits down with Jim Albertelli, CEO of Albertelli Law, to discuss the unique ways AI can be leveraged in the mortgage industry.

John Heck: What are the benefits of an AI driven process to streamline and standardize data?

Jim Albertelli: When we talk about AI, what were really talking about is applying algorithms based on our knowledge and understanding of the industry to ingest information more consistently to help make better decisions. Over time, the data set grows and we can make better decisions based on that information.

A practical example is us working with Capacity in our call center. Part of our call center was really about developing a knowledge base and layering in AI to make better real-time decisions. Not only in deciding on the loan or the question that comes in and getting it into the right place, but replacing some of the less complex interactions and standardizing those interactions to allow us to make better decisions and assess our lending clients more effectively with fewer costs.

John Heck: Where do you see your strategic vision in regard to automating your helpdesk and the decision making?

Jim Albertelli: We say that iteration is innovation, so were applying AI initially to the help desk functionality. This allows us to take in data that examines how consumers communicate. Do consumers prefer Facebook Messenger or do they prefer some chat, email or even a telephonic conversation? Then we reach out using the appropriate methodology so we can start the conversation.

With our reps, we have the ability to look at all of the different standards or responses and quickly glean that information out of that large knowledge base. Being able to provide better, more standardized information to all consumers alleviates some of the concerns around discriminatory effects and provides more transparency for your compliance team.

John Heck: What do you see happening in the future with people currently in forbearance plans?

Jim Albertelli: You have a group of borrowers who are actively participating. Theyve taken their second six months forbearance and its going to lead them into March. Then you have another group of borrowers that hasnt done anything but because moratoria have been in place they havent had to do anything. It almost feels like theyve got relief, but they really havent. And so that group is going to wake up in January, to a number of filings that will probably spur them to re-engage. Then that will burn off, in March or so and then the 120 day process will begin.

I think youre going to really see a couple of different waves. Youre going to see a January/February wave increase, another one in March/April and then ultimately, in July before its fully baked, and you get an idea of the new normal.

John Heck: Is there a way to avoid this potential wave?

Jim Albertelli: PPP, as well as additional stimulus money, can certainly help consumers and lessen that burden. Weve had some good job reports. If we could get some of these other industries started again, that could ameliorate some of the negative effects.

We could be looking at a 2% or 3% default rate, instead of a 1%. But some of that is going to be determined by what additional stimulus is made available and how quickly other industries, such as airlines and hospitality, come back.

John Heck: What are you doing with AI in these areas to be strategic about whats to come?

Jim Albertelli: Were leveraging AI in a number of ways. Ultimately, we believe in the digital mortgage. When you have consumers, even intersecting in the call center, were developing the ability to decide at high volume around the various loss mitigation strategies. When you have all of the lending standards all digested, you really can become an active partner with the consumer.

So, were running the AI over portfolio retention, looking at the likelihood of a foreclosure in the future or the ability to re-perform. Were digesting that information, and being scalable is really what were building between now and the end of the year.

John Heck: Whats something mortgage professionals should know about integrating AI?

Jim Albertelli: What I really want people to understand is that you dont have to change your system of record to interface effectively. AI can save time, help you with compliance and help you engage effectively with consumers. There are ways to get creative, to actually pay for it, to engage it, be very targeted. If you integrate AI even in a small way, you can get a big result.

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How COVID-19 is driving AI in the mortgage industry - HousingWire