WHY IT MATTERS: Digital Transformation
171.5K views | +34 today
Follow
WHY IT MATTERS: Digital Transformation
Get weekly or monthly digest of all posts in your inbox: https://fmcs.digital/wim-subscribe
Curated by Farid Mheir
Your new post is loading...
Scooped by Farid Mheir
Scoop.it!

Paying with your face now a reality at scale in China via WeChat & Alipay - while US retailers are still asking for signature on credit card paper slips

Paying with your face now a reality at scale in China via WeChat & Alipay - while US retailers are still asking for signature on credit card paper slips | WHY IT MATTERS: Digital Transformation | Scoop.it

By rolling out a device equipped with more advanced facial recognition technology, users can enjoy an even more convenient method of paying for goods and services without using smartphones. The Frog Pro features a 10.1-inch double-sided screen, a 3D depth-sensing camera for the facial recognition payment function and a QR code scanner

Farid Mheirs insight:

WHY IT MATTERS: this is the obvious killer app for facial recognition - it uses AI technology and similar hardware that iPhone uses to unlock your screen. You can now spend without any friction, not event the need to take your phone out of your pocket. Of course this raises obvious privacy and security concerns - but in China the concept of privacy appears different than in the West. But the most important factor is that Asia is deploying this *at scale* first, waaaaaaayyyy before the USA where you still have to sign paper slips for credit card transactions... Who is leading the techno war these days?

No comment yet.
Scooped by Farid Mheir
Scoop.it!

Facial Recognition Is Already Here: These Are The 30+ US Companies Testing The Technology via @CBInsights

Facial Recognition Is Already Here: These Are The 30+ US Companies Testing The Technology via @CBInsights | WHY IT MATTERS: Digital Transformation | Scoop.it

US corporates are currently using facial recognition for everything from fast food orders to trying on makeup to issuing life insurance policies, and more.

Farid Mheirs insight:

WHY IT MATTER: facial recognition used to be a very difficult thing to do but AI and machine learning specifically has blown this out the water opening the way for a slew of real world useful applications. 

The Media Lab's curator insight, June 12, 2019 8:48 AM
A great concept!
ECMFAD's curator insight, June 13, 2019 1:24 PM
Share your insight
Scooped by Farid Mheir
Scoop.it!

You must mention #AI in your earnings call otherwise you maybe seen as missing the boat - and do not mention Big Data or Cloud otherwise you will really show how far behind you really are #boardroo...

You must mention #AI in your earnings call otherwise you maybe seen as missing the boat - and do not mention Big Data or Cloud otherwise you will really show how far behind you really are #boardroo... | WHY IT MATTERS: Digital Transformation | Scoop.it

The graphs below show Artificial intelligence (AI) and Machine learning (ML) mentions in company earnings calls, by industry. The graph shows Artificial intelligence mentions by industries other than IT. Big data and Cloud mentions are added to put AI / ML mentions in perspective. This analysis uses only companies publicly traded on the New York Stock Exchange.

Farid Mheirs insight:

WHY IT MATTERS: digital technology is something that executives at the highest level must master. The AI report shows how often certain words are uttered in earnings calls of public corporations and it shows what is trendy: AI and machine learning. Big data and cloud are not. What does this mean: if you are not deploying actively big data and cloud solutions, you re behind. If you are not piloting AI or ML projects, then your investors will see you are behind the times and missing out.

No comment yet.
Scooped by Farid Mheir
Scoop.it!

Podcast on digital disruption by #Accountants gives an idea of how much #AI #Blockchain #Automation #Cybersecurity will impact their industry - as I believe it will all professional services includ...

Podcast on digital disruption by #Accountants gives an idea of how much #AI #Blockchain #Automation #Cybersecurity will impact their industry - as I believe it will all professional services includ... | WHY IT MATTERS: Digital Transformation | Scoop.it

You’re surrounded by disruption and rapid change. Maybe you’re looking for solutions. A way to seize opportunities. We all are. It’s a sprint to stay ahead of technology. Blockchain. Automation. AI. Cybersecurity. It will forever change the way accounting is done. And forever change those who do it. It’s time to reset, redefine and reskill. The way we learn. The way we work. And the way we move forward. Here, you’ll find what you need to not just survive, but adapt and thrive. And disrupt disruption.

Farid Mheirs insight:

WHY IT MATTERS: I've been blogging about digital disruption since Jan 2013, and doing it since the early days of Internet in 1995. It is refreshing to see it being picked up by non technology professionals. Maybe a sign of the times that this thing is starting to really impact people, businesses and whole industries...?

No comment yet.
Scooped by Farid Mheir
Scoop.it!

Deutsche Bank CEO: 50% of workers replaced by machines soon, social turmoil to increase in coming years #danger

Deutsche Bank CEO: 50% of workers replaced by machines soon, social turmoil to increase in coming years #danger | WHY IT MATTERS: Digital Transformation | Scoop.it

By next year, around 75% of financial firms will either explore or implement artificial intelligence technologies, according to a survey by Greenwich Associates. The research and consulting firm thinks some 15% of the industry’s jobs are at risk.

Farid Mheirs insight:

WHY IT MATTERS: social turmoil in the coming years. Trump has capitalized on coal workers fears of loosing their jobs. In 5 and 10 years, millions of workers in Finance, accounting, clerical jobs, but also truck drivers and warehouse workers will be out of a job - or fearing they will loose their jobs or seeing their salaries frozen or wages pressured in downward trends. They will be asked to retrain and maybe re-locate. Most won't and will expect their unions or their governments to do something against the business world and rich techies. We must - sadly - plan for social turmoil in the coming years.

No comment yet.
Scooped by Farid Mheir
Scoop.it!

How cognitive technologies are transforming capital markets @McKinsey

How cognitive technologies are transforming capital markets @McKinsey | WHY IT MATTERS: Digital Transformation | Scoop.it

Cognitive technologies are transforming capital markets. Once the preserve of IT experts, they are now moving to center stage—offering enhanced speed, accuracy, and efficiency, and creating 20 to 30 percent in additional capacity, as employees in areas such as post-trade processing are freed from automatable tasks to focus on higher-value activities. The challenge for market participants, facing an array of solutions, is to implement at scale and capture the maximum value at the lowest possible risk.

Farid Mheirs insight:

WHY IT MATTERS

AI is entering the financial industry in droves and as this article from McKinsey shows, using digital technology may become essential to survive for many organizations.

No comment yet.
Scooped by Farid Mheir
Scoop.it!

This chart shows where robots are going to replace humans on Wall Street

This chart shows where robots are going to replace humans on Wall Street | WHY IT MATTERS: Digital Transformation | Scoop.it

The robots are coming for Wall Street's jobs, and McKinsey & Co has an idea of exactly what jobs they are coming for.

  • Automated technologies could have a big impact on 60% of Wall Street jobs, according to a new report by McKinsey, the consulting firm.
  • Integration of new technology doesn't guarantee big revenue spikes, but it is necessary to keep firms afloat in the digital age. Some big firms are already taking action.
Farid Mheirs insight:

WHY THIS IS IMPORTANT

AI will impact the jobs market in all industries, including banking, Finance, legal, and accounting. As highlighted here, it may help focus humans on higher value activities but may - will? - also lead to job cuts. High paying job cuts. Watch out for possible human anger against the machines in the coming years.

No comment yet.
Scooped by Farid Mheir
Scoop.it!

Bank of America Merrill Lynch has become the latest bank to implement #AI

Bank of America Merrill Lynch has become the latest bank to implement #AI | WHY IT MATTERS: Digital Transformation | Scoop.it

HighRadius' solution uses AI, machine learning, and optical character recognition to identify a payer, match them to an uncontextualized payment, and match that to an open receivable. Moreover, it gives companies the option of sending an automatic prompt to customers whose debts are outstanding. By leveraging this solution, BAML aims to reduce costs for its large business clients.

Farid Mheirs insight:

WHY THIS IS IMPORTANT

AI is moving into back office operations in a big way, replace "traditional" human activities, reducing costs and improving performance. AI is being applied to receivables, credit scoring, customer service, compliance, trading and many other activities.

No comment yet.
Scooped by Farid Mheir
Scoop.it!

Investment firm ARK focus on digital disruption to invest - their 7 Big Ideas for 2017 provides great insight

Investment firm ARK focus on digital disruption to invest - their 7 Big Ideas for 2017 provides great insight | WHY IT MATTERS: Digital Transformation | Scoop.it
ARK Invest aims to identify large-scale investment opportunities resulting from technological change. We believe innovation is key to growth. From a broad spectrum of disruptive innovations, Big Ideas represents our annual breakout of technologies that we believe will accelerate significantly in the months ahead.
Farid Mheirs insight:

WHY THIS IS IMPORTANT

Investment firms tend to be very traditional in their approach. This one appears to be embracing the digital transformation and making very insightful research that - from what they claim - guides their investments. Great idea. Now we'll see if their assumptions prove right and generate more returns than other investment guidance. I have a feeling it will.

 

Topics covered: 3D printing, additive manufacturing, artificial intelligence, automation, autonomous taxis, autonomous vehicles, bitcoin, blockchain, CRISPR, cryptocurrency, deep learning, dna sequencing, fintech, genomics, machine learning, mobile, robotics, shared autonomous vehicles

No comment yet.
Scooped by Farid Mheir
Scoop.it!

Weekend read: 350 slides Mary Meeker’s 2017 internet trends report - eCommerce is killing traditional retail #1

Weekend read: 350 slides Mary Meeker’s 2017 internet trends report - eCommerce is killing traditional retail #1 | WHY IT MATTERS: Digital Transformation | Scoop.it

The most anticipated slide deck of the year is here. Key takeaways:

  • Global smartphone growth is slowing: Smartphone shipments grew 3 percent year over year last year, versus 10 percent the year before. This is in addition to continued slowing internet growth, which Meeker discussed last year.
  • Voice is beginning to replace typing in online queries. Twenty percent of mobile queries were made via voice in 2016, while accuracy is now about 95 percent.
  • In 10 years, Netflix went from 0 to more than 30 percent of home entertainment revenue in the U.S. This is happening while TV viewership continues to decline.
  • Entrepreneurs are often fans of gaming, Meeker said, quoting Elon Musk, Reid Hoffman and Mark Zuckerberg. Global interactive gaming is becoming mainstream, with 2.6 billion gamers in 2017 versus 100 million in 1995. Global gaming revenue is estimated to be around $100 billion in 2016, and China is now the top market for interactive gaming.
  • China remains a fascinating market, with huge growth in mobile services and payments and services like on-demand bike sharing. (More here: The highlights of Meeker's China slides.)
  • While internet growth is slowing globally, that’s not the case in India, the fastest growing large economy. The number of internet users in India grew more than 28 percent in 2016. That’s only 27 percent online penetration, which means there’s lots of room for internet usership to grow. Mobile internet usage is growing as the cost of bandwidth declines. (More here: The highlights of Meeker's India slides.)
  • In the U.S. in 2016, 60 percent of the most highly valued tech companies were founded by first- or second-generation Americans and are responsible for 1.5 million employees. Those companies include tech titans Apple, Alphabet, Amazon and Facebook.
  • Healthcare: Wearables are gaining adoption with about 25 percent of Americans owning one, up 12 percent from 2016. Leading tech brands are well-positioned in the digital health market, with 60 percent of consumers willing to share their health data with the likes of Google in 2016.
Farid Mheirs insight:

WHY THIS IS IMPORTANT

This is an annual bag of goodies.

Highlight #1: retail stores are closing at record pace while Amazon opens stores. This is such a huge trend because it transforms stores from a mini-warehouse into something else: a destination for experience, service, and training. Think Apple store with the highest sales per square foot, genius bar, classes and a showroom. Amazon has pushed its Amazon GO, no lines, no registers concept and it is rolling it out slowly. This is just the beginning...

No comment yet.
Scooped by Farid Mheir
Scoop.it!

#AI mobile app provides real-time #stock market insights @numenta

#AI mobile app provides real-time #stock market insights @numenta | WHY IT MATTERS: Digital Transformation | Scoop.it

HTM for Stocks monitors financial and social data (specifically stock price, stock volume and Twitter volume) for a couple hundred stocks and alerts you in real-time when a significant anomaly is occurring.

Farid Mheirs insight:

Describes an artificial intelligence solution that monitors stock market and raises notifications when things are different than the predicted behaviour of the stock.

 

WHY THIS IS IMPORTANT

Our brain is a massive prediction engine, based on the work that Jeff Hawkins has presented in his book On Intelligence http://amzn.to/2caWZuk 

 

Applications from this brain architecture theory have started to emerge with this stock market prediction being one of them.

No comment yet.
Curated by Farid Mheir
Get every post weekly in your inbox by registering here: http://fmcs.digital/newsletter-signup/