Artificial Intelligence for Institutional Investors

natpressclub

Venue – the National Press Club, 13th floor ballroom

The Markets Group runs events for institutional investors. I took part in a panel about Artificial Intelligence and Machine Learning, and in a round table discussion.

Diagrams and useful background sources listed below.

Definition of Artificial Intelligence, to illustrate that machine learning is a subset of AI. Sourced from the thorough review of AI in the NHS  http://www.reform.uk/wp-content/uploads/2018/01/AI-in-Healthcare-report_.pdf

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Examples of AI and ML in use

At least 75% of the audience uses Netflix – which applies machine learning to improve its users’ experience of streaming as well as for content selection. Its results are driven by an extreme emphasis on keeping existing and attracting new customers. The data its customers generate by using it are used to make recommendations to them. Artwork personalization https://medium.com/netflix-techblog/artwork-personalization-c589f074ad76  Image discovery https://medium.com/netflix-techblog/ava-the-art-and-science-of-image-discovery-at-netflix-a442f163af6

View story at Medium.com

Alibaba and Tencent Unlike the US companies, they have built their support for retailing primarily based on the customer’s mobile device; so they use facial recognition for identification, image scanning and matching for item selection, precise location specification in shopping venues and integration with payment apps to enhance the customer’s buying experience, both online and in person at a store.  http://technode.com/2018/02/14/alibaba-new-retail/ http://www.bain.com/publications/articles/embracing-chinas-new-retail.aspx (joint report – Bain and Alibaba)

Recent reviews – longer reads  Recent developments are a direct result of the enormous improvement in computing capability at drastically reduced costs, a direct result of Moore’s Law – which continues.

Longer term effects of automation – 10 – 20 year horizon – Bain March 2018 http://www.bain.com/publications/articles/labor-2030-the-collision-of-demographics-automation-and-inequality.aspx

13 artificial intelligence trends reshaping industries and economies – CBInsights February 2018 https://www.cbinsights.com/reports/CB-Insights_State-of-Artificial-Intelligence-2018.pdf

Capabilities at the end of 2017 – summary in slide format from Jeff Dean (Stanford, Google Brain team) http://learningsys.org/nips17/assets/slides/dean-nips17.pdf

History

1950 Alan Turing asked “Can Machines Think”  Computing Machinery and Intelligence paper https://www.csee.umbc.edu/courses/471/papers/turing.pdf
1956 Initial definition of Artificial Intelligence at a workshop  at Dartmouth College https://en.wikipedia.org/wiki/Dartmouth_workshop   Remember the AI Winters in the 1970s, 1990s