Welcome to our latest AI Forum weekly report. Each week we share AI news and insights, curated for professionals, board members and entrepreneurs. This week we focus on the Mobile World Congress, our latest market report “The State of AI in Financial Services”, the latest funding news and we look at Volodymyr Zelenskyy’s passion for AI.
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This week in AI
The Mobile World Congress has started in Barcelona. The Annual gathering of the mobile technology industry has six themes this year: 5G connectivity, AI, cloudnet, financial technology, Internet of Everything and the future of technology. There are also demonstrations and panels on cryptocurrency and the metaverse with ethics and safety for the development of AI also being addressed – Ethical AI is emerging as a common theme in many conferences this year.
The State of AI in Financial Services
Our latest market report has found that 61% in financial services organizations, use, or plan to use, AI, – but 31% are still waiting for Return on Investment. The report titled “The State of AI in Financial Services” is based on a global survey of over 600 senior business and technology managers, and looks at how AI is being applied to various business use cases.
In AI funding news
Bloomberg have reported that Foxo Technologies Inc plans to go public through a Special Purpose Acquisition Company or SPAC. The machine learning company examines thousands of models to find patterns of DNA methylation that measure human health, wellness, disease, and aging. With a combined value of 369 Million US dollars, new funding of over 200 Millions Dollars will be used to launch a direct-to-consumer life insurance service using saliva swabs, a less invasive method for home use. The service will detect markers that can be used to estimate life expectancy.
Red Sift, a UK technology firm led by serial entrepreneur Rahul Powar, offers email and cyber security products that leverage Machine Learning. With over 700 enterprise customers, their products include OnDMARC for business mail protection, OnINBOX to provide threat indicators for email traffic, and OnDOMAIN for shutting down phishing sites. Series B Funding of 54 million US Dollars will be used to expand into the USA.
AI conferences
The 36th conference from the Association for the Advancement of AI closed on Sunday with the bulk of the papers covering machine learning, computer vision, speech and NLP. The award for the outstanding paper award was given to Virginie Do, Sam Corbett-Davies, Jamal Atif and Nicolas Usunier for their paper entitled “Online Certification of Preference-Based Fairness for Personalized Recommender Systems”.
Congratulations to the team for this prestigious award.
In AI People, we highlight Volodymyr Zelenskyy, President of Ukraine
n November 2019, during a meeting with Jack Ma of Ali Baba in Kyiv, Zelenskyy said, “Ukraine has some of the best data analytics experts in the world and can offer truly strong expertise in creating a data analytics and artificial intelligence center”.
Due to the availability of skilled technologists and data scientists, over one hundred firms such as Samsung, Boeing, Ericsson, Huawei, Oracle and Siemens had setup operations in Ukraine.
It is hoped that Ukraine prevails against this illegitimate attack on a European democracy. Zelensky has been inspiring and re-building the Ukrainian AI sector, once the war is over, would be a fitting tribute to Zelensky’s vision for a modern and free Ukraine.
Нет войне
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That’s all for this week. Please let us know what topics you want us to cover in the future.
