Artificial intelligence as a service (AIaaS) emerges as an excellent tool to solve existing issues from various sectors such as healthcare, education, and defense. Technology firms, startups, and leading companies have launched their innovative solutions to improve the overall productivity of organizations and enhance customer experience. Different issues have been identified and AI-driven solutions have been developed. Among all the solutions, improving customer experience remains the priority.
Market players integrated their service platform with AI-based services to ensure seamless operations and enhance the overall experience. In addition, AI-assisted conversational assistants have been deployed to handle the surge in the volume of queries in the healthcare and educational sectors. One of the most essential uses of AI-based services is related to maintaining national security. AI-based facial recognition apps have been developed and deployed to identify citizens during difficult situations such as war.
The implementation of AIaaS will increase in the coming years as companies try to develop innovative solutions to solve existing issues. According to the report published by Allied Market Research, the global artificial intelligence as a service market is expected to reach $77.04 billion by 2025. Following are some of the trends and activities taking place across the world.
Market players have been acquiring the services of AIaaS providers to improve the capabilities of their platforms. Newgen Software integrated Microsoft Azure Applied AI services for enabling automation and intelligent document processing. Under this integration, Newgen will implement automation solutions such as Azure Form Recognizer for gaining AI/ML-driven automation. The company integrated these solutions for empowering its end-to-end content management platform for its customers along with providing scalability and security benefits.
Many companies are implementing intelligent automation solutions for availing productivity gains and reshaping the workplaces with cloud and other emerging technologies. In addition, many enterprises are looking forward to digitizing content-driven processes, enhancing productivity, and improving customer services. The integration of Microsoft Azure in Newgen will enable enterprises in managing content processes in a secure and scalable manner. Moreover, enterprises can simplify the complex content management processes to achieve flexibility and reliability. The solutions built on Azure will be influential in speeding up the adoption of the cloud, modernizing applications, and improving customer experience. The integration activities of AI services will continue to enhance business processes.
Market players have been expanding their product portfolio and offering AI services to various sectors. Startups have been widening their products and providing services to the healthcare sector. Conversational AI startup Kore.ai launched a new service called HealthAssist for the healthcare sector. The startup plans to expand its services beyond standard customer service. With an experience of handling more than a billion conversations with the help of AI assistants, its new service will help the healthcare providers in testing, developing, and deploying voice-based and text-based AI assistants for customer service. This assistant will interact with patients, insurance providers, and healthcare service providers to solve their queries and direct them to human staff if required. The company gained HIPAA compliance, which implies that it has access to patient records, billing information, and others. This will reduce the tasks of human workers.
Raj Koneru, the CEO at Kore.ai highlighted that its AI assistant and technology have been adopted by a lot of healthcare providers across the world. Its new solution is focused on solving various challenges faced by healthcare providers. It will fill the gap between processes, improve access to care, and enhance customer experience. Conversational AI solutions will emerge for highly regulated, complex, and dynamic processes in the next few years.
The trend of launching new products involving AI-driven assistants continues as the requirements in various sectors emerge. Along with the healthcare sector, there is another sector that needs to solve the queries of people. It is the education sector. As new admission processes begin, there is a huge demand for help on different processes. Educational institutes have been struggling to offer support to people opting for the admission process and do not possess enough manpower to solve the queries of every student. SuperBot launched an AI-based admission helpline for enabling educational institutes to provide around-the-clock support for queries. This platform is AI-driven and powered by natural language processing platforms. It has the ability to handle nearly one million calls every day and offer support in nine regional languages in India.
The newly-launched solution will enable educational institutes in scaling up operations and eliminate the need to hire manual labor. In addition, they do not need to spend more on infrastructure expenditure. The requirement to set up call centers, expand sales departments, and hire new labor will be eliminated with the implementation of the AI-based assistant. SuperBot trained its conversational bot for more than 1,000 intents. Moreover, it directs the students to human staff if there is a need for advanced help. The company developed cutting-edge technology for providing personalized and scalable solutions to handle a surge in query volumes. New AI-driven solutions will be launched to solve different issues existing in the educational sector.
Identification of citizens and preventing misinformation are crucial factors in ensuring the security of any country. AI service providers are providing biometric apps for helping countries maintain security. ClearView AI provides facial recognition app to the Ukrainian Defense Ministry for assisting in the identification of citizens at checkpoints. Moreover, this app can be utilized for the identification of deceased people. As the war situation intensifies in Ukraine, the government has been seeking support from various governments along with AI provider companies of the world.
Hoan Ton-That, the CEO at ClearView AI, highlighted that its AI-based facial recognition system can identify people better than fingerprint biometrics. Moreover, it works even if citizens suffered facial injuries. The company executive outlined that the company developed this app for reuniting the families that have been separated during the war. The Ukrainian government will deploy the app in the near future. The company will ensure that there will be no misuse of the application and it complies with international standards such as the Geneva Convention. As technology firms strive to solve the existing problems, the effective utilization of technology during difficult times such as war will prove to be a boon for ensuring security and saving people.
Netrush Acquires Sellozo, AI-driven martech company supporting billions in transactions
Netrush, the eCommerce accelerator partnering with premium brands providing teams, technology, strategy, and infrastructure to thrive on Amazon, has acquired Sellozo in a deal believed essential for supporting today’s digital-first brands.
Sellozo is an AI-driven Amazon PPC software platform engineered to support, automate and optimize global growth, for sellers and vendors across the North American, European, and Asia-Pacific markets.
Netrush will build on the current Sellozo success of innovating to maintain a best-in-class automated ad platform and create new value for existing partners, whilst generating benefits for Sellozo clients in supply chain, creative, data analytics, finance, brand protection and more.
Netrush CEO and Co-founder, Brian Gonsalves says, “The days of blind investment and paying a share of spend are over. With the acquisition of Sellzo alongside our current demand-side-platform advertising, creative and supply chain capabilities we have a truly integrated platform. Marketers can now use the Netrush platform for a full funnel view including brand building, new customer acquisition, repeat customer experience, in-market PPC efficiency, in-the-box experience and loyalty. It is a win-win for all involved.”
Sellozo CEO, Nic Delorme adds “Sellozo saw an opportunity in the market for greater effectiveness in advertising spend while increasing the transparency and accessibility for enterprise brands, as well as the growing number of successful seller entrepreneurs. Joining Netrush is a catalyst moment – combining our teams will spark a flurry of innovation and enhancements to both platforms, resulting in a comprehensive world class ecommerce growth platform.”
Gonsalves concludes “The ecosystem of ecommerce services is highly fragmented. A truly integrated advertising approach needs to work seamlessly with profitability, inventory availability, multi-channel data, and customer lifetime value data. The speed of decision making and the dollars required mean that advertising can no longer be managed off to the side. When advertising actions are continually assessed through transactions then advertising investments can be assessed alongside the many effective levers for growth. Brands need to know where to spend the next dollar of investment and verify the effectiveness of that investment.”
Netrush is an online retailer that partners with premium brands to provide the teams, technology, strategy, and infrastructure needed to thrive on Amazon and other e-commerce platforms. With headquarters in Vancouver, Washington, and processing facilities in Kentucky and Canada, Netrush provides a full suite of capabilities ranging from supply chain to creative services that make brands stand out across the shopping journey.
Sellozo is a platform that enables Amazon sellers and agencies to automate and improve the profitability of Amazon product advertising. The platform includes a machine learning algorithm that determines and sets the optimal bid for every keyword and target every day based on a Target ACoS goal. Every day Sellozo executes over 500,000 bid updates on behalf of their customers and manages over $20M in ad spend every month.
5 Reasons To Leverage AI in Metal Fabrication
Emily Newton is the Editor-in-Chief of Revolutionized, an online magazine showing how technology is disrupting many industries.
There’s growing interest in using artificial intelligence (AI) in manufacturing to achieve numerous benefits ranging from better worker productivity to less machine downtime. Here are five specific advantages that AI can bring to metal fabrication. They’ll show you what’s possible.
Laser cutting is a popular and reliable metal fabrication technique. Implementing manufacturing automation while using it could lead to even better outcomes. Many laser cutters on the market work with metals and numerous other materials. They typically include cameras as identification measures. It’s essential that the laser cutter correctly recognize the material. A mistake could create messes or even release hazardous chemicals. In this scenario, having a safety kit including things like gloves manufactured by a company that evaluates what users really need and provides products to meet these needs, and preparing different kits for different hazards, becomes really important.
AI and computer science professionals at MIT recently developed the SensiCut system. It identifies 30 materials with deep learning and an optical method that examines a material’s microstructure with a laser. It can also suggest cutting adjustments or handle surfaces containing multiple materials.
Mustafa Doga Dogan, a doctoral candidate working on the project, said, “By augmenting standard laser cutters with lensless image sensors, we can easily identify visually similar materials commonly found in workshops and reduce overall waste.”
People interested in applying AI to get this benefit should first take the time to see which practices or materials typically cause the most waste. That information can guide the next steps concerning how and when to use AI to cut down on waste.
Unexpected equipment failures can become costly problems for metal fabricators and other industrial factories. That’s a primary reason why more companies use AI in manufacturing with the goal of cutting down those outages.
If leaders get notifications of impending equipment failures soon enough, they can adjust workflows, order parts or take other proactive steps to stop equipment problems from causing shutdowns. Moving ahead with AI-based maintenance gets factories closer to the zero-downtime goal. It can also aid decision-makers in choosing when to replace aging machines and see the best return on investment.
A company’s budget may limit its ability to invest in AI for the improved maintenance of all equipment. In such cases, the ideal approach is to determine which machines fail most often or are out of service for the longest periods. That information gives a good starting point when selecting where AI would get the best results when minimizing maintenance.
AI is also useful for helping metal fabricators deal with increasingly high workloads. For example, aluminum is a diverse material used in everything from disposable food trays to fitness equipment. It’s in continually high demand, but certain societal trends can make people want it even more.
During the COVID-19 pandemic, many people bought recreational vehicles to travel and stay away from home safely. Aluminum and other metals are key components in RVs.
Some metal fabricators publicly disclose their annual production capabilities. For example, one aluminum company offering billet casting and specialty alloy manufacturing can make more than 200 pounds every year at two of its facilities.
It’s worthwhile for factory leaders to see which factors severely limit production ramp-up efforts. From there, they can further explore how AI and manufacturing automation could reduce those obstacles.
Committing to using AI in manufacturing may encourage metal fabricators to investigate other advanced technologies that could cause a wider future-oriented transformation. For example, 3D printing with metals can create prototypes more quickly or make on-demand products for customers.
Company leaders interested in using AI in manufacturing may even find existing options for combining it with 3D printing. Massachusetts company Markforged has a cloud-based platform for additive manufacturing that uses AI to function. Incorporating machine learning into the product reportedly makes it smarter with every new part produced. The cloud-based model also means that a 3D printer automatically receives software updates.
If metal fabricators are interested in pursuing AI, additive manufacturing or both of those but lack in-house resources, they should think about working with a service provider. Doing that could mean getting access to purpose-built technologies and well-known companies rather than hiring people with the expertise to create the tools from scratch.
Manufacturing automation can also bring significant gains to quality improvement efforts. In one recent example, John Deere partnered with Intel to use AI to spot defective welds on its tractors and other industrial equipment.
Finding defecting welds is a challenging task, especially due to the fast-paced nature of most industrial assembly lines. However, this AI application uses advanced algorithms to detect problematic welds and stop a robotic welder after finding them.
More specifically, a neural network-based inference engine can spot issues in real-time and make the necessary adjustments before continuing. Plus, the computer-vision camera used for this application is just 12-14 inches away from the welded material.
When people want to get quality improvements with AI, choosing metrics to track before moving ahead with any new product is a good idea. Then, it’ll be easier to determine if the expected gains happen to the expected extent.
These potential use cases should help people feel excited about the potential of using AI and other manufacturing automation options to enhance operations. Before finalizing any decisions, the affected parties should remember that the advantages may not be immediately apparent. Still, they typically become obvious if leaders allow enough time to investigate how to best use the technology.
Y Combinator-Backed AI Startup Lofty AI Launches Tokenized, Liquid Marketplace for A.I.-Vetted Real Estate on Algorand
Lofty AI today announces the launch of its liquid real estate marketplace on the Algorand blockchain, including the introduction of a sixth tokenized property listing as it gains momentum in disrupting access to real estate ownership. Lofty AI’s model allows anyone to become a direct owner in real estate and earn rental income for as little as $50 per token and in as few as five minutes, made possible with its blockchain-based solution on Algorand. Unique to Lofty AI, properties listed within the marketplace are vetted by both their local investment team and proprietary artificial intelligence, designed to more accurately evaluate market indicators that drive appreciation, including social media data, retail trends, and more.
Lofty AI’s mission is to bring liquidity and accessibility to the notoriously illiquid real estate market. Algorand’s blockchain technology enables this via minimal transaction fees, advanced smart contracts that allow for the automation of many functions, and industry-leading transaction throughput speed. These factors allow investors to participate with significantly lower minimums and to liquidate their investments at any time of their choosing, thereby reducing risk.
Property tokens on Lofty AI can be purchased via credit card or ACH transfer, and soon, will be eligible for purchase using Algorand-based currencies. Rental income is distributed to owners in USD, with forthcoming options for rental income to be sent directly to a user’s Algorand wallet.
“We believe that real estate investing should not just be reserved for the ultra-wealthy. Our team ran into this issue when investing in real estate personally, so we set out to create a platform that makes it super easy to invest in vetted properties in minutes, for only $50,” said Max Ball, COO of Lofty AI. “Building on top of Algorand was a no-brainer for us––honestly it was probably the easiest decision we’ve had to make so far.”
“We are excited about Lofty AI’s success on Algorand, and congratulate them on today’s sixth tokenized property launch,” said David Markley, Director of Business Solutions at Algorand. “We believe that blockchain technology is the key to democratizing finance, including real estate investment opportunities, and have designed our protocol to facilitate the ease of use, speed, scalability, and true decentralization needed to enable this future.”
The sixth property to be listed on the Lofty AI marketplace goes live today, with 2509 tokens available for investment.
About Lofty AI
Lofty AI lets people invest in tokenized investment properties for only $50. All properties are vetted by their local investment team and proprietary artificial intelligence, and tokens can be sold anytime for no penalties or fees. Lofty AI has raised over $5M in total funding and is backed by leading investors including Y Combinator, Rebel Fund, Jason Calacanis, Hustle Fund, and more.
About Algorand Inc.
Algorand is building the technology to power the Future of Finance (FutureFi), the convergence of traditional and decentralized models into a unified system that is inclusive, frictionless, and secure. Founded by Turing Award-winning cryptographer Silvio Micali, Algorand developed a blockchain infrastructure that offers the interoperability and capacity to handle the volume of transactions needed for defi, financial institutions and governments to smoothly transition into FutureFi. The technology of choice for more than 700 global organizations, Algorand is enabling the simple creation of next generation financial products, protocols and exchange of value.
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