What’s new in the world of artificial intelligence?

Artificial intelligence is changing the course of our lives with its constant developments. Before the pandemic and now in the new normal, AI remains to be a key trend in the tech industry. It is reaching wider audiences as years pass and scientists, engineers, and entrepreneurs who involve themselves with modern technologies are reaping the benefits of AI and its branches, IoT and machine learning.

Organizations that overlooked digital transformation and the power of artificial intelligence are picking the pace of AI adoption. When COVID-19 was creating chaos across industries, it became evident that disruptive technologies and the automation that comes with it are more than crucial.

While 2020 was a great year for artificial intelligence working with its true potential, here are the latest advancements in the field of AI that are promising exciting times for the future of this technology.

1. An AI algorithm that can predict virus spread from animals to humans

Researchers from the University of Gothenburg have found an artificial intelligence model to predict what kind of virus can possibly spread from animals to humans. Using artificial intelligence, the algorithm studies the role of carbohydrates to understand the infection path. In scientific terms, carbohydrates are called glycans and they play a significant role in the way our bodies function. Almost all viruses first affect the glycans in our bodies, so did the coronavirus. Led by Daniel Bojar, assistant professor at the University of Gothenburg, the new AI model can analyze glycans with improved accuracy. The model analyses the infection process by predicting new virus-to-glycan interactions to better understand zoonotic diseases.

2. Another AI algorithm that can outsmart hackers with fake documents

The world is evolving with disruptive technologies and that includes hackers and cyber attackers. Cyberattacks have become more common amidst the remote working culture, where sensitive files and documents have become the prime targets. To deal with this pressing concern, V.S.Subrahmanian, a cybersecurity researcher at  Dartmouth College, created an algorithm called Word Embedding-based Fake Online Repository Generation Engine (WE-FORGE) that generates fake patents that are under development. This makes it difficult for hackers to find what they are looking for. The system generates convincing fakes based on the keywords of a given document. For each keyword it identifies, it analyses a list of related topics and replaces the original keyword with one randomly chosen related word.

3. DataRobot to launch a new enterprise AI platform to leverage business and customer’s value

DataRobot announced its second major platform launch, DataRobot version 7.1 with new MLOps management agents, time series model enhancements, and automated AI reports. With an aim to provide lifecycle management for remote AI and machine learning models, DataRobot’s new launch will offer feature discovery push-down integration for Snowflake and time series Eureqa model improvements. Through this, Snowflake users can use automatic discovery and computation of individual independent variables in the Snowflake data cloud. Apart from these additions, DataRobot also provides a no-code app builder that has the ability to convert deployed models into AI apps with no coding.

4. Exscientia is leveraging AI-powered drug discovery with Allcyte’s deep learning platform

Exscientia’s US$60M acquisition of Allcyte will boost AI-drug discovery. Allcyte is an Austrian company that is developing an artificial intelligence platform to study how cancer treatments work on different individuals. Post the acquisition, this technology will work with Exscientia’s native software that uses AI to identify potential drug targets, build the right drugs, and send them for trials. Exscientia will now be able to work with a precision medicine approach to design drug molecules, ensuring improved efficiency.

5. As a relief for asset managers, Redi2 and IBM Private Cloud Services pioneering a new solution

The creator of the SaaS delivery model for financial services billing solutions, Redi2 Technologies, has announced a collaboration with IBM Private Cloud Services to improve flexibility. The combination of these technologies will add strong value for Redi2 Revenue Manager clients. Top asset managers throughout the world can take advantage of the improvements like fast reaction options for clients who need quick responses to changes, move data from one country to another or expand their infrastructure requirements.

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The demise of big data and the emergence of smart data are helping comply with demands

The era of bigdata has come to an end. Data has been a vital component of creating strong, long-lasting, mutually beneficial relationships between businesses and customers for a long time. They provided a way for business executives to better understand the customers and fulfill their needs based on previous preferences. But very quickly, the night has changed. We have already bid farewell to bigdata in business, so what next? Yes, it is smart data. The emergence of smart data has leveraged a stronghold on companies to equip them to the improving demand.

‘Bigdata,’ the term that opens the door to over 800 million results in Google search has been ruling over us for the past two decades. Starting from offering a cost-efficient means of insight to optimizing return-on-investment and growth, bigdata in business has played a significant role. Unfortunately, all along the way, marketers had a hard time solving the riddles of data. Whether it is accumulating the right data, organizing it so it can be easily analyzed, or being able to extract useful insights, there are a number of challenges that data engineers are undertaking to extract insight. The technology sector is evolutionary. While some technologies garnered peak popularity at one instance of time, they gradually went on to evolve after being perceived that their data were over. The same thing is happening to bigdata. As the technology has reached a form of saturation, it is turning to be smart data. Data scientists have long been complaining about spending around 80% of their time cleansing, verifying, and preparing data. Fortunately, as smart data comes in handy with a well cleansed, verified and fertilized mechanism, the world finds it easy to handle.

Cremating big data

Bigdata is a great marketing term, but in reality, that’s all it is. The enormous amount of data is nothing useful without getting good insight from it. As companies become more familiar with data processing and service providers abstract away more complexity, bigdata in business will just become big. But data is not dead. It is just transforming to an easier form. By 2025, it is predicted that the global data sphere will be 175 zettabytes, up from 50 zettabytes in 2020. Henceforth, we are preparing for a future where the data explodes exponentially and we have sources to store and get the best out of it.

Why is bigdata becoming useless? Let me explain this with an example. Recently, the volume of data is drastically growing. People also rely on data for many situations. According to a survey of Fortune 1000 executives by the Harvard Business Review, reliance on bigdata initiatives is on the rise. Unfortunately, there are some cases where data reliance has impacted badly on certain scenarios. In a data wrong gone incident, the portal was using more data than was called for. OfficeMax has sent a letter to an individual in Illinois, addressed to Mike Seay. The letter reported the death of his daughter in a car crash. But the worst case was that Seay’s daughter was killed in a car crash one year earlier. The scenario was even ruined as Seay was on his way to attend a counseling group of grieving parents when he received and read this letter.

The rise of smart data

Smart data is digital information that is formatted so it can be acted upon at the collection point before being sent to a downstream data analytics platform for further data consolidation and analytics. The term smart data analytics is associated with the Internet of Things (IoT) and most of the data is extracted from smart sensor-embedded devices. To get the maximum out of smart data, one has to better understand the clues in the question around data. Besides from making data-driven decisions, smart data analytics pushes us to make creative initiatives.

Data analytics were dependent on the famous Vs (Velocity, Variety, and Veracity) that big data carried. However, smart data also revolves around Veracity and Value. With smart data, we focus on valuable data and often smaller datasets that can be turned into actionable data and effective outcomes to address customer and business challenges. By putting in the context of purpose and context, smart data analytics makes the analysis and interpretation of data easy. For example, smart data is used in Open banking where UK-regulated banks have to give customers the option to allow access and control of their personal and financial data to TPPs.

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