In the news this week, deep learning algorithms attempt to draw similar conclusions as humans would by continually analysing data with a given logical structure. Read what you should know.
Welcome to The Digital Eye, your weekly roundup of the latest technology news.
Our team of experts have scoured the internet for the most exciting and informative articles so that you can stay up-to-date on all things digital, data, blockchain, AI & analytics.
This week’s the Top Reads:
- Deep Learning Trends that You Should Know
- AI investments see the largest growth in 20 years
- CIO agenda: Six make-or-break priorities
- Digital Transformation: NO Shortcuts
- Insurtech Market to Reach $53.91 Billion By 2028
Bonus Article:
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VIDEO – What is NLP?
We hope you find this information valuable and would appreciate your help in sharing it with others who may also be interested.
Deep Learning Trends that You Should Know
Deep learning is an artificial intelligence (AI) function that imitates workings of human brain in processing data & creating patterns for use in decision making
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“Deep learning is an artificial intelligence (AI) function that imitates the workings of the human brain in processing data and creating patterns for use in decision making.
Deep learning algorithms attempt to draw similar conclusions as humans would by continually analysing data with a given logical structure. To achieve this, deep learning uses a multi-layered structure of algorithms called neural networks. The design of the neural network is based on the structure of the human brain. Just as we use our brains to identify patterns and classify different types of information, neural networks can be taught to perform the same tasks on data. The individual layers of neural networks can also be thought of as a sort of filter that works from gross to subtle, increasing the likelihood of detecting and outputting a correct result. The human brain works similarly. Whenever we receive new information, the brain tries to compare it with known objects. The same concept is also used by deep neural networks.”
shared by @analyticsinme
AI investments see largest growth in 20 years
1st – USA; large talent pool, & stellar research initiatives
2nd – China; Govt strategy + Infra
3rd – UK; home-grown researchers & strong AI startup scene
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“According to the latest report by Tortoise Intelligence, worldwide investment into AI companies has increased by 115% since 2020, marking the largest year-on-year growth in AI investment for at least two decades. Total AI investment reached $77.5 billion in 2021, a substantial increase from the previous record set last year of $36 billion.”
shared by @VentureBeat
CIO agenda: Six make-or-break priorities
1. Know your customer as well as your tech
2. Put cloud at centre of your tech strategy
3. Make developer experience cornerstone of talent strategy
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“With the post-pandemic economy taking shape, CIOs can evolve IT’s mission to shape the business.
“I’m more concerned about not being bold enough than about being too cautious.” That quote from a CEO summarizes a dominant strain of executive angst as companies emerge from the pandemic amid signs of accelerating economic recovery.
For CIOs, the challenge is how to match that boldness so they can not only enable the business’s aspirations for growth but also shape them. That challenge is all the more seminal because even a quick glance under the hood of the top goals of many businesses reveals that their goals are unreachable without technology. Like it or not, CIOs are in the spotlight.”
shared by @McKinsey
Digital Transformation: NO Shortcuts
“Transformation success relies on a comprehensive approach and ROI more likely the more leadership actions that are taken
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“After 15 years of original McKinsey research on organizational transformations,1 the results from our latest McKinsey Global Survey confirm an enduring truth: the more transformation actions a company takes, the greater its chances for success.2 Yet success remains the exception, not the rule. While we’ve known for years that a comprehensive approach to organizational transformation is more conducive to lasting change, the average success rate has remained persistently low. Less than one-third of respondents—all of whom had been part of a transformation in the past five years—say their companies’ transformations have been successful at both improving organizational performance and sustaining those improvements over time.”
shared by@McKinsey
Insurtech Market to Reach $53.91 Billion By 2028
“Growth attributed to acceptance of IoT, machine learning, & blockchain technologies by insurers, & presence of large customer base”
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“Increasing investment by insurance companies in digitization to improve payments system functionality is a significant factor driving growth of the insurtech market.
Insurtech Market Size – USD 2,750.9 Million in 2020, Market Growth – at a CAGR of 44.3%, Market Trends – Advancement in technology
The global insurtech market is expected to reach a market size of USD 53.91 Billion by 2028 and register a high CAGR during the forecast period, according to a latest report by Reports and Data. Rapid growth of the insurtech market can be attributed to increasing investment by insurance companies in digitization to improve payments system functionality. Insurtech helps insurance companies to offer an integrated billing system that can accept diverse payment forms enabling greater customer flexibility and thereby improving billing system efficiency. The automated billing systems can notify and remind clients/customers of approaching dates of payment for premiums, and thus reduced unintended defaults.”
shared by @digitaljournal
Bonus Article
VIDEO – What is NLP?
Featuring intelligence of @GoogleAI @BritannicTech @Kofax
👁️🗨️ WATCH HERE
Take a look and please let me know what you think
The DiGITAL EYE