Global Scans · Intelligence · Weekly Summary

WHAT'S NEXT?: There will be an increased demand for software and services that deliver intelligence, personalization, and specialization. Artificial intelligence could become a $15+ bn opportunity by 2025. Combining human and machine cognition for engagement decisions could yield the precision and reliability of automation without sacrificing the robustness and flexibility that humans bring. The first effect of machine intelligence will be to lower the cost of goods and services that rely on prediction.

• [New] Finance leaders are buzzing about the transformative potential of generative AI tools like ChatGPT and Google Gemini. SaaSWorks, Inc.
• [New] 95% of firms believe technology like AI and automation will significantly impact claims processing in the next five years. The Fintech Times
• [New] Google will need to continuously invest in cutting-edge research and attract top talent in AI to maintain its competitive edge. GizChina Media
• [New] Recognizing the transformative potential of AI in shaping tomorrow's computing platforms and devices, Google is establishing a new division called Platforms & Devices. GizChina Media
• [New] Fujitsu will deploy Oracle Alloy, a cloud infrastructure platform that provides more than 100 Oracle Cloud Infrastructure services, including generative AI, as part of its Fujitsu Uvance Hybrid IT portfolio, which supports customers with on-premises and cloud-based infrastructure. Fujitsu Global
• [New] The proportion of people who believe AI will dramatically affect their lives within the next three to five years has increased from 60% to 66% over the past year. Unite.AI
• [New] Google will be moving its Responsible AI teams from its Research department to DeepMind in order for it to be closer to where its AI models are being built. Verdict
• [New] More than half of the physicians Wolters Kluwer surveyed - 54% - said they believe generative AI will save them 20% or more time looking for data to assist in clinical decisions, while more than two-thirds - 68% - said genAI helps them quickly search medical literature. Healthcare IT News
• [New] As AI continues to advance, we can expect to see even more specialized positions that harness the power of technology to bridge communication gaps and create transformative impact on a global scale. Lion People Global
• [New] As AI models, real-time data, and cloud-native approaches continue to become more accessible, they have introduced a variety of new ways to build intelligent applications that have the potential to serve millions of users and fuel billion-dollar businesses. Datanami
• [New] Zurich North America has implemented AI in its medical bill review process, showcasing AI's potential to streamline the handling of medical bills for workers' compensation, automotive, and general liability claims. Digital Insurance
• [New] The US National Guard will use Google's AI to analyze disaster zones Just in time for the summer wildfire season. MIT Technology Review
• [New] Gen AI could lift productivity by 3% to 5% across the banking sector, delivering value equal to an additional US$ 200 billion to US$ 340 billion in annual revenues. Fintech Singapore
• [New] The introduction of gen AI presents new risks, requiring financial institutions to embrace a new approach to risk management and controls. Fintech Singapore
• [New] Gen AI has the potential to transform the way banks manage risks over the next three to five years by allowing functions to move away from routine tasks towards partnering with business departments to prevent strategic risks from the start of new customer experiences. Fintech Singapore
• [New] Generative artificial intelligence, also known as gen AI, is expected to significantly impact risk management over the next five years, allowing financial institutions to automate tasks, accelerate processes and improve efficiencies. Fintech Singapore
• [New] Europe must seize the opportunity to become a global leader in the industrial internet, capitalizing on the potential of emerging technologies like AI, quantum computing, and 5G Standalone connectivity. IBM Newsroom
• [New] The statement from the technology leaders asserts that Europe has the potential to lead the industrial internet globally by harnessing emerging technologies such as artificial intelligence, quantum computing, and 5G Standalone connectivity. investing.com
• [New] Artificial intelligence has the potential to automate most tasks in knowledge-based professions by 2030, dramatically increasing the average worker's productivity. ARK Invest Europe
• [New] Budget 2024 proposes to provide $50 million over five years, starting in 2024-25, to create an AI Safety Institute of Canada to ensure the safe development and deployment of AI. Gowling WLG
• [New] Despite ethical concerns and data security risks, the future of AI promises significant advancements in every field, creating new opportunities and challenges. India Today

Last updated: 23 April 2024