Banking » Fintech » Tech update featuring Adobe, Google and SAS

Google adds tools to attract more corporate customers
Social media giant, Google’s G Suite is upgrading its set of email, productivity and collaboration tools as its aims to acquire more commercial customers. Most of the features include capabilities powered by AI. In March, Google deployed machine-learning software that identifies key documents on a G-Suits user’s drive automating the grouping process by adding related files in a single dashboard among other features.
The new features are now launched to attract corporate customers to Google Cloud’s business including the apps available in G Suite and other services that offer computing power and storage for rent over the internet. Nearly five million businesses have paid to access G Suite, some of which include Whirlpool, Nielsen Holdings and Airbus among others. The decision to focus on building apps and cloud services that support an enterprises’ IT needs.

DeepMind losses mount as Google spends heavily to win AI arms race
DeepMind, Google’s AI company, has incurred debts of more than £1bn while it fights for supremacy in artificial intelligence research and development. Their costs have increased due to the parent company, Alphabet, hiring academics, researchers and developers in order to beat its competitors, including hiring former City of London bankers and Silicon Valley developers.
DeepMind’s accounts say that they have written assurance from Google that the latter will support them for another year and help to pay off their debts. Although the company has faced criticism for trying to tempt Oxford and Cambridge scholars away from academia and into the private sector, DeepMind still faces stiff competition in terms of hires from Silicon Valley companies such as Apple and Facebook.

IBM launches new toolkit to boost understanding of and trust in AI
IBM Research is rolling out AI Explainability 360, an open source tool kit of algorithms that support the interpretability of machine learning models. AI Explainability 360 has eight new algorithms with quantitative metrics to measure explainabilty. The IBM Research Blog stated that just like in our daily lives, we rely on examples, rules and prototypes, users expect the same expressiveness when interacting with AI.

Adobe unveils AI-Powered technology previews
Adobe will offer its advanced AI capabilities to brands in an accelerated fashion with Technology Previews. Technology Previews facilitates organisations by providing leading solutions for real-time data insights and analytics to personalise the end-to-end customer experience. With Technology Previews a customer’s journey is reimagined with AI using Adobe Sensei that helps brands surface insights and address data anomalies. Tapping into machine learning to identify the ideal audience is the next highlight that relies on machine learning to understand the analysts’ understanding of data and delivering first-of-its- kind precision for audience segmentation. Another highlight is saying one step ahead of the customer with intelligent forecasting wherein Technology Previews accelerates a brand’s capacity to predict a customer’s future action.

SAS achieves big jump in AI software revenues: analyst
Analytics firm, SAS has seen a 105% growth in AI revenues in 2018. David Schubmehl, Research Director, Cognitive/Artificial Intelligence Systems at IDC said: “SAS had impressive growth in the artificial intelligence market, no doubt as a result of its leadership in analytics. As organisations migrate from experimentation to production in AI to solve their business problems, most are in search of a trusted vendor that offers analytics expertise and domain knowledge. SAS’ embedded AI capabilities and integration with open source technologies enables organisations to take advantage of the technology to automate processes, without the heavy lifting of training AI models. SAS also aims to invest $1 billion in AI over the next three years focusing on R&D to increase success of SAS’ global AI efforts, education initiatives and addressing customer needs to understand their benefit from AI and services to optismise return on AI projects.

Standard Chartered launches fintech innovation lab in Shanghai
Multinational banking and financial services company Standard Chartered has launched an innovation lab in Shanghai to tap into China’s tech environment and expertise in AI. The multinational bank already has labs open in Singapore, Hong Kong, Kenya, London and San Francisco. The latest lab will highlight collaboration between the bank’s employees, corporate clients and fintech partners to offer new financial services for businesses. The bank has signed an agreement with Linklogis to use the Chinese B2B blockchain-enabled supply chain platform to deepened client relationships in China.

Google opens applications for AI/ML startups for Launchpad Accelerator
Google has begun applications for its third Launchpad accelerator in India. It is known for mentoring early stage start-ups on aspects of their businesses, technology, product strategy, marketing UX/UI and leadership. The company aims to target start-ups using AI/ML to eliminate systematic errors. The company should also have raised seed funding using advanced technologies including AI and ML. The cohort will receive the best of Google in AI/ML, Cloud, UX, Android, Web, Product Strategy and Marketing as membership and startups will also receive Google Cloud Credits worth $20K to $100K each. 10 start ups were shortlisted from the industry to solve product and growth challenges.

 

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