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In the heart of downtown Seattle lies Amazon Go — a store concept that grabbed headlines after its beta phase opened to the public this year. Its concept could mean that the retail industry could slowly be powered y AI. But the concept already faces competition as tech startups emerge to introduce similar technologies to autonomous retail stores. For starters, Amazon Go ‘Just Walk Out’ technology allows users to scan and go, making them dodge lengthy wait lines, dismissing any interactions with human cashiers (because there are none). Through the Amazon Go app, users scan QR codes as hundreds of regular and infrared cameras, camouflaged with the colorRead More →

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Wall Street is looking towards Silicon Valley for a more automated environment and a tech-driven approach. A July 2016 report by CB Insights showed that 41 startups may be introducing AI to fintech. Of the many big names, Goldman Sachs remained dominant in backing as many as four companies that use AI in financial technology. As many as 658 AI deals were closed and $5021 billion was spent on funding the AI startups in 2016, according to the report. With total AI investment gaining momentum across different industries, an increasing number of companies are branching out to offer a variety of services that range from creditRead More →

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From advertising and promotion to selling and feedback, marketing chatbots are reducing the cost for companies, saving time, increasing efficiency and creating larger awareness for brands. Here are five reasons why chatbots are a perfect companion for marketing : 1. Personalized Advertising Chatbots get rid of the biggest hurdle that advertising faces — unwanted promotional emails. In a 2017 survey conducted by Adobe Digital Insights, a little more than two-thirds of respondents preferred personalized ads. Personalized chatbots ensure a high level of accuracy for personalizing offerings according to customers’ needs. Established brands like eBay and 1–800-Flowers were early adopters of personalized marketing system but with IBM Watson, more and more companies are adopting similarRead More →

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While a reliable method to accurately identify suicidal patients is missing from medical literature, researchers are continually striving for AI-solutions to predict and prevent suicidal attempts. Suicide is cited as the 10th leading cause of death and is one of three leading causes on the rise, according to the Centers for Disease Control and Prevention (CDC). AI tools are diligently being deployed to address the rising suicide risk. Machine Learning for Identifying Suicidal Thoughts In a recent research, researchers from Vanderbilt University applied machine learning (ML) to overcome the limitations of traditional methods that predict suicide attempts by looking into the electronic health records of adult patients. The outcomes showedRead More →

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Financial technology, or fintech, refers to innovations aimed at new ways of delivering financial services. With the goal of changing lives, fintech startups in Africa are moving people forward on a digital route. Fortunately, such firms have no lack of funding. According to a recent report from Disrupt Africa, the overall funding from venture capitalists jumped by 51 percent to $195 million from 2016 to 2017, with fintech funding accounting for one-third of the funds. The regions that were considered the top three investment destinations were South Africa, Nigeria, and Kenya. Over the past several months, the African tech scene has trended in a positive directionRead More →

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Originally Published on Digitalist Magazine With the advent of robo-advisors, artificial intelligence (AI), and virtual assistants, the next wave of the financial technology revolution could arrive sooner than anticipated. A report by EY, “Unleashing the Potential of Fintech in Banking,” highlights that collaborations with startups (and not competition) can provide fresh tech solutions for banks. Shared services and knowledge will improve product offerings through data analytics tools like predictive analytics, offering deeper engagements with customers. How are banks currently leveraging fintech? Albeit independently, banks are building in-house technology in response to the growing fintech challenge. In 2017, JPMorgan appointed a new team for the automation ofRead More →

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When Starbucks (SBUX) announced the closure of all of its 379 Teavana stores by the spring of 2018, it came as a warning signal to many analysts. But for long-term investors, Starbucks future growth prospects could look more promising. Acquired in 2012 for $620 million, Teavana stores are set to close due to declining foot traffic in malls. As a result of this retrenchment, Starbucks incurred asset impairment and goodwill charges of roughly $100 million during the third quarter. Following the news, Starbucks shares fell 1.2% to $58.80 in after-hours trading. For the 3rd fiscal year 2017, the Seattle-based company reported earnings of $691.6 million, downRead More →