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How Companies can speed up on AI adoption?
Artificial intelligence (AI), sometimes called machine intelligence, is intelligence demonstrated by machines, in contrast to the natural intelligence displayed by humans and other animals. In computer science AI research is defined as the study of “intelligent agents”; any device that perceives its environment and takes actions that maximize its chance of successfully achieving its goals. Colloquially, the term artificial intelligence is applied when a machine mimics cognitive functions that humans associate with other human minds, such as “learning” and “problem solving”.
From Amazon and Facebook to Google and Microsoft, leaders of the world’s most influential technology firms are highlighting their enthusiasm for Artificial Intelligence. Amazon CEO Jeff Bezos wrote, “how big of an impact AI is going to have on society over the next 20 years.” We hope this guide cuts through the hype and explains why?—?whether you’re a consumer or executive, entrepreneur or investor?—?this emerging trend will be important for us all.
Artificial intelligence is not in itself a commercial field, but a science and a technology. As an academic discipline, it is a collection of concepts and ideas which are appropriate for research, but which cannot be marketed. However, artificial intelligence is the scientific foundation for several growing commercial technologies The three most important are robotics and vision natural language processing, and knowledge engineering. Supporting markets are forming which will provide hardware and software tools for use in these three areas.
Companies can work on development in Commercial Markets:
Some typical industrial applications are in scheduling, production planning, maintenance, process control, and quality assurance. Many of the systems you are likely to have heard about, in the oil industry, mining, manufacturing, etc. are likely to fall into this category. In the service sector, some typical applications are in automation of routine advice, standardization of service, quality control, labour productivity, advice on accessing and using computer systems, and training. Perhaps the most interesting of these applications are the first two, automation of routine advice and standardization of service. Knowledge based systems can handle relatively routine questions that require a minimum of intelligence.
Recent Reports on how AI is being effective:
The Monetary Authority of Singapore (MAS) announced it is teaming up with the trio of the Economic Development Board (EDB), Info com Media Development Authority (IMDA) and Institute of Banking and Finance (IBF) to accelerate the adoption of artificial intelligence (AI) in Singapore’s financial sector.
The quartet aims to foster a “thriving AI ecosystem” and jointly facilitate research and development of new AI technologies and the adoption of AI-enabled products, services and processes for the financial sector.
Their efforts will be along three key thrusts: develop AI products, match users and solution providers, and strengthen AI capabilities.
EDB’s participation will give a leg up to MAS’s Artificial Intelligence and Data Analytics (Aida) program by providing support for AI solution providers locally and globally to create new AI products and services for Singapore’s financial sector, the MAS said.
The partnership will encourage leading AI solution providers to conduct both upstream research and product development activities for the financial sector.

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