Artificial Intelligence is on the rise, but you might not have noticed with the head rush of the coronavirus (Covid-19) epidemic that has been going around these days. Nevertheless, scientists are hard at work, building machines, and managing to successfully engineer AI for them – which are truly and frankly changing the world. While you’re stuck in quarantine, here are 5 AI trends in 2020 that might have flown under your radar. AI In Healthcare Given the current state of the world right now, dealing with the coronavirus (Covid-19) epidemic and all, it’s not hard to imagine that scientists would’ve been bothered to engineer AI algorithms, which could help manage this pandemic – from inception, to resolution. Within these three months, a Deep Learning Artificial Intelligence at MIT’s Institute for Medical Engineering and Science (IMES), managed to create a far more potent antibiotic that surpassed ones created by any human ever has. Such a Deep-mind Artificial Intelligence could be employed to track and treat the coronavirus pandemic, more effectively (not to mention with a faster pace). AI As A Service Cloud Computing has brought to the forefront –aaS (as a Service) modules, where cloud based tools would grant unique remote utilities, without the need to actually employ highly advanced specs on your native device. Artificial Intelligence is steadily rising on this forefront. Startups, like Sachin Dev Duggal Engineer.ai, have successfully managed to engineer AI to help users through an off-site service system. Builder.ai(formerly known as Engineer.ai) employs the use of human-assisted-AI that develops fully fledged applications, through only a few keystrokes. This form of AI as a Service module is steadily gaining complete autonomy. AI Process Automation The most boring application - but one that’s most useful. This basically means Engineering AI to replace menial, cumbersome human tasks. This is the reason for which the paranoia exists (citing that robots will replace human jobs). While true that these Machines will replace nearly 170 million low-skilled jobs, they will, however give rise to nearly 200 million plus more, within the various fields of AI by 2030. AI Cyber-Criminality Cycercrimes are not new – in fact, they have been prevalent as long as the internet has been. But the last few years have seen a sharp rise in cybercrime, through deplorable acts like Ransomware, a lot of which are fuelled through the means of Artificial intelligence. Hackers, like the ones who created the ‘Paradise’ ransomware, exhort money by engineering AI bots that hold the victims data hostage, in exchange for a sum of untraceable cryptocurrency, like Bitcoins. Cybercells warn of such incidences rising further throughout the year. AI-Human Companionship The genesis of Artificial Intelligence will come with the successful integration of Human fortitude, with a machine’s aptitude. The hottest AI trend of 2020, is human-AI-assistance. Much like the previously mentioned Sachin Dev Duggal Engineer AI, which relies on human and Artificial Intelligence collaboration – others like law, surveillance, education, automobiles, and healthcare, look to engineer AI, which work in partnerships with their human counterparts. This sort of partnership, although idealistic, is based in rather pragmatic calculations.
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A glance back at the advancement made in building a different and comprehensive working environment up until now. The average employee will spend almost 90,000 hours over their life at their place of work. For some, this naturally promotes a sense of belonging towards the company, becoming a driving force for continually improving their performances. However, over the past few years, establishments have begun to realize that not all employees can cultivate a deep relationship with their workplace due to several internal or external factors. However, one thing is certain, the subject of diversity and inclusion has become a central point of every discourse on workplace culture, and companies are therefore focusing on creating a proressive atmosphere to amplify the intangible value they offer to their employees. Engineer.ai Co-founder said we can attribute the initiation of the diversity revolution to issues like gender disparity in allowing equal work and pay opportunity. Organizations are now consciously fighting discrimination based on age, disability, ethnicity, gender, gender identity and expression, religion, or sexual orientation. Many studies conducted on diversity reveal a stark difference in firms' performances with and without gender diversity. A study by McKinsey conducted over several years showed that gender-diverse companies tend to outperform non-gender-diverse firms by 15 percent. Back in 2015, when Alibaba's Jack Ma was asked for the secret behind the success of his firm, he said: "Actually, I think one of our important secrets is that we have a lot of women." Back then, Alibaba had 52 percent of women employees, and many held senior leadership positions as well. Today, interestingly, the dynamics and scope of diversity at the workplace have evolved beyond gender disparity, and several firms are trying to address implicit biases that are sometimes hard to detect. Recently, Goldman Sachs announced its new policy that the bank will not support the IPO process of a firm lacking a woman or "diverse" director. Similarly, there have been numerous developments, and campaigns are expanding the meaning of "diversity" at the workplace. Things are definitely looking up today. As millennials take over the workplace, the focus on diversity and inclusivity is becoming stronger. The reason is simple; millennials have spent their formative years absorbing the proressive liberal, globalized, tech, cultural, and media communication revolution. Therefore, unlike Gen X, who would borrow the values, way of living, and line of thoughts from their elders in the family, millennials borrow them from thinkers, philosophers, scholars, and expertise readily available on the internet. According to a study by Deloitte, millennials are 32 percent more likely to respect the identities of individuals, 35 percent more likely to explore unique experiences, and 28 percent more likely to focus on acceptance and tolerance. Most interestingly, millennials are 71 percent more likely to emphasize teamwork as an overall inclusion effort. The combined result of how millennials perceive employees at work, their work, and the workplace, in general, is redefining diversity and inclusion at the workplace. As the millennials begin to drive nations, workplaces will emerge as a kaleidoscope of diverse cultures- fortified with tolerance and mutual respect. Thus, we have come a long way in the process of making the workplace more diverse and inclusive. Today, the movement is driven by both the employees and the employers, and there are obvious benefits of embracing it. In the coming decade, one can only expect this evolution to pick up pace, and build a workplace that allows people to be their productive best. Written By Sachin Dev Duggal CEO & Co-founder at Engineer.ai Engineer.ai founder said "Our platform 'Builder' provides a solution to operate, manage and scale their technology needs’ for any business". Creating an application can be a challenging and time-consuming exercise, and for many businesses, achieving this might not be so easy. After all one needs the right technical resources to create an app, and not every business will have a coder in its ranks. And that’s the problem that Builder.ai(formerly known as Engineer.ai) wants to solve, by offering a ready-to-go template for businesses looking to create an app, without having to bother about the coding. Builder.ai wants to make software as ‘easy as ordering pizza’ if one were to go by the tagline on their website. The company’s client base includes brands like BBC, Virgin Unite and NBC Universal. We spoke to Sachin Dev Duggal, the CEO and founder of Builder.ai about the company and its services, and how he sees the app development industry in India. Here is an edited excerpt of the email interaction. How would you describe Engineer.ai, and what does it aim to achieve? Builder.ai offers a 360-degree software service for entrepreneurs and enterprises to build, run, and scale any idea, without the need for coding. We aim to encourage entrepreneurs to build their dream businesses without experience in design or tech and enterprises to move their operations to the cloud with confidence. How exactly does Builder.ai work? Our AI assembly line platform lets you create on-demand, tailor-made software using a library of reusable features and a network of verified expert talent from around the world. Our after-care product– Builder Care, keeps this software up-to-date, and for businesses in need of an infrastructure to support growth, our cloud solution– Builder Cloud, combines all the best providers into one platform to bring you the best possible price. To assemble the complex code necessary to build software, you just need to begin with an idea and then choose from hundreds of templates and recommended features. Then, based on your idea, Builder.ai works to give you a maximum price and estimated delivery date within minutes. Builder.ai’s development process leverages AI to tap a library of existing components and manage a crowd-sourced global team for everything that’s unique. It delivers a custom product by the deadline and on budget. The platform can host and upgrade your product to ensure ongoing functionality. What kind of apps one can build using your tool? Our platform provides a solution for any business to operate, manage and scale their technology needs. From building websites, apps and even wearables, Builder.ai can create almost anything. What about privacy and data protection on the apps built using your platform? We take security very seriously– both our own and our customers’. In order to ensure we are protected from threats, we use a variety of tools and processes to secure our infrastructure at multiple levels. To give you an example, all of our persistent databases use encryption at rest and our ephemeral databases use encryption in transit. Our production environments all use a combination of jump/bastion hosts and private subnets to ensure they are not exposed to the public internet. We also follow a regular update schedule for our server packages in order to keep them up to date on security patches. Builder.ai also maintains GDPR strict compliance for all of its platforms and performs routine recurring compliance audits. There’s a lot more that happens behind the scenes, but to be clear, our AI currently is focused only on democratising software development. While the AI does not contribute to data protection and privacy, we do have robust practices in place to create a secure environment for our customers. What are some of the projects delivered by Builder.ai since its inception? We’ve been fortunate to have created some exceptional software for brands like BBC, NBC Universal, France TV, Virgin Unite etc. To give you insight into one: The BBC holds events in different countries. They wanted people to discover and register for nearby events, participate in live polls and submit questions for guests and speakers. Upon receiving this request, we only had five weeks until the next BBC Click Live event in New Delhi, India. We developed the app and over 200 users participated in the poll and asked questions. The India event was so successful that the app was immediately used at another event in London. What are your plans for Builder.ai and where do you see it in the future? Engineer.ai is going through an exciting phase where we are seeing quick yet strategic growth, supporting both active digital markets and those that are ripe for digital transformation. We recently announced the opening of our new office in the Middle East located in the Dubai Multi Commodities Centre (DMCC). Our research shows that there are a lot of up and coming businesses in the Middle East that want to elevate their digital footprint to better serve their existing customers and expand their base internationally. This move underscores Builder.ai’s rapid international growth, as we now operate in five financial and business hubs across the globe including London, Los Angeles, Delhi, Tokyo and Dubai, with over 275 employees across these locations. We look forward to sustaining this growth by offering more entrepreneurs and enterprises the ability to bring their software ideas to life. How do you see the app development industry in India? Currently, the Indian app economy is dependent on three types of monetisation. These include app store purchases, in-app advertising, and mobile commerce. Indians are now spending over four hours per day on their mobile devices and a significant percentage of this is spent on apps availing services like ordering food, planning travel, playing games and hailing rides. The Digital India initiative, along with other advances made by the government since 2014 has led to stupendous growth in the digital payments market as well, thanks to the symbiotic influence between mobile wallets and online shopping. Although China currently leads the world’s app economy, India’s growing digital population and rapidly changing consumption patterns are a sign to watch out for. We are only getting started. How businesses/entrepreneurs are approaching software development in India when compared to the global trend? India has established approximately 48 million small businesses over the past decade, nearly double the number of the US. However, unlike the US, most businesses in India are hesitant to invest in digital transformation due to a lack of tech expertise, resources or both. For a country like India, that is the fastest-growing trillion-dollar economy in the world and the fifth-largest overall, a necessary shift to stay competitive is the democratisation of software development so that ideas can transcend borders, compete in the global market and take India to number one. Do you think AI will help boost the app development industry? Are there more factors or technologies that can play a role in its advancement? Yes, I believe AI will undoubtedly transform the app development industry for good because as I’ve said before, the only thing stopping thousands of powerful ideas from becoming realities is the very approach to software development. Within the field of app development, the combined power of AI and ML (Machine Learning) with varying levels of contribution can modify the software development industry to break down the complexities at various levels, precisely as we do at Engineer.ai. And the end result is that everyone is empowered to bring their ideas to life. Every once in a while, the thought of developing an app, comes across everyone’s mind. How can it not? Anybody with a smart device knows how much of shovel-ware actually exists on any given app-store – if so many people are able to push out these many applications, differing drastically in quality, what is stopping an individual from just piling on some more? Well, for one, app development happens to be a task and a half – skilled professionals might invest numerous resources into creating an app, only to see it never take off in the end. 78% of all created apps for small to medium businesses never see the light of day. This also means that the sweat and toil of so many individuals, just goes to waste without any retribution. Machine Learning however, has arrived in time to fix this. Web-based AI-assisted toolkits like Engineer.ai, and its flagship product, Builder, allow just about anybody to create an application, without learning a single line of code – all within a matter of minutes. It does this through a ‘Deep Learning’ based AI, which works in conjunction with Engineers, who merely guide the programme to move in the right direction – expanding its innate understanding along the way. The software is a game-changer through and through, paving the path for other software-creation-programmes in the future. Venture capitalists’ long-running efforts towards launching massive funds for emerging startup segments are paying off as rounds grow larger. By the time native venture capital (VC) firm Jungle Ventures launched its newest fund (and its third in Southeast Asia), it had already pumped up its targets to $200m—significantly larger than the targets it had for its first fund in 2012: $10m. In April 2019, it successfully breached this target and closed the round with a whopping $240m. Jungle Ventures’ latest round is one of Singapore’s largest for 2019 and highlights how VC firms are pushing their funding goals further than ever. But a question remains: where does the money from these big rounds go? According to Valmiki Nair, partner at Dentons Rodyk, startups in fintech, payment services, B2B, and digital tech are getting the most attention from these funds. This is reflected in the data aggregated by Enterprise Singapore (ESG) which showed that for the first three quarters of 2019, digital tech startups clinched 93.2% of the $13.4b deployed towards startups, accounting for 278 deals, up from 145 deals in the same period last year. Notably, by the time Jungle Ventures III closed, it had already invested in Indonesian beauty e-commerce and social platform Sociolla (US$40m, series D), Vietnamese point-of-sale software provider KiotViet (US$6m, series A), Jakarta-based logistics platform Waresix (US$14.5m, series A), and AI startup Engineer.ai But the capital does not only flow to these popular segments, as other investment areas have emerged as well. Nair noted that logistics and healthcare are the two sectors that have attracted more interest in the same year. Notably, Reefknot Investments’ new $69m fund for logistics and supply chain startups is especially interested in companies that are using AI or deep mind tech, digital logistics, and trade finance to solve problems that range from analysing supply chain data to managing the risk of financing trade transactions. Mark Suckling, partner at Cento Ventures, thinks that this is just the beginning for supply chain-related funds in Southeast Asia as institutional flows are still intensifying. "We expect to see a trend towards the emergence of value-chain specific funds and fund managers. Digitalisation is reaching ever further into numerous industry sectors and Southeast Asia hosts an increasing portion of many global supply chains. New venture firms and vehicles will emerge with clear sector-led investment theses for tech in the fashion industry, agriculture and food, labour, healthcare services, manufacturing, construction tech and so on,” he said. Biotech boot up Biotech is also taking a share of the capital, with healthcare and biomedical science startups receiving $148.3m in funding and digital health startups clinching $126.9m, according to ESG data. Investments in biopharma and medtech startups for the year were also sizeable at $21.4m. Experts see a lot of investment potential across these sub-sectors. Vishal Harnal, partner at 500 Startups, is most excited about the biopharma space. “We will see a number of companies in the cell and gene therapies space as well as small molecules,” he said. Related startups include Lucence, which raised US$20m in a series A round in November 2019 for its product involving less invasive liquid biopsy to help clinicians analyse tumors and make treatment decisions. Nair, on the other hand, sees interest in new medical devices, such as diagnostic devices, companion diagnostics, health software, and alternatives to drugs as innovations get traction. For instance, EndoMaster which raised $20.5m in 2017, will soon launch a robotic-assisted system that can remove tumours from the intestines and stomach without making incisions. Hsien-Hui Tong, head of venture investing at SGInnovate, concurred with Nair but added, “Medtech products or services that focus on the users—be it healthcare professionals or patients—instead of only on the technology, which is just the enabler, will continue to win big.” Read full article @ https://sbr.com.sg/markets-investing/in-focus/new-startup-sectors-gain-ground-vcs-fill-coffers Builder, an AI-enabled platform that lets anybody build apps and software without knowing how to code, has propelled Builder Now. It is a instant prototyping tool that empowers organizations bring app ideas to life within minutes. "This assists clients with venturing out structuring an application and make their business thought a reality in under 10 minutes. The tool also suggests a real-time cost and timetable for the venture based highlights and clients' necessities," said Sachin Dev Duggal, CEO and co-founder, Builder.ai(also known as Engineer.ai). Its turnkey platform builds, runs and scales just about anything customers can think of, Duggal said, adding “Our human-assisted AI (artificial intelligence) can build tailor-made software using the collective knowledge of what has been built before; an assembly line connects re-usable features with specialist creators.” This does not require any technical knowledge to build a dream application. “Our platform essentially has an interactive dashboard with preset templates that allows users to quickly enter their requirements for the app. Once entered, a request is sent, Builder.ai’s crowd-sourced pool of developers build the app, which users can regularly keep a track of,” he said. The start-up, which raised $29.5 million in Series A funding, led by Lakestar and Jungle Ventures, with participation from SoftBank, has partnered with 142 companies or Dev shops around the world with almost 80,000 engineers. “Our unique algorithm is able to grade each person and it chooses which developer works on what,” Duggal further said. Talking about cost and productivity, he said, “We have this theory that 40-60 per cent of all software is built from code that could be easily replicated. It’s just the same thing that’s being used again and again.” For example, there is no secret in how one logs in Google, or gets notifications. “About 80 per cent of software is no secret ingredient. We can reduce the cost of all such common-codes by 1/10th by splitting them across other customers. Needless to say, the company has fully paid for these libraries and built features from scratch. We empower customers with the freedom to build whatever they want — an app, an e-commerce platform, wearable tech, etc. and select particular add-on features from the library, which offers over 500 features to customize it.”An e-mail log in process follows the exact same steps in any application and doesn’t require exclusive coding. E-mail log-in, profile views can be easily replicated while developing apps, Duggal said, adding “We leverage this to reduce the cost of an app development to one-tenth of the original cost.” “Costs and timelines vary depending on ideas, but when compared to traditional agencies, we do it in a third of time and almost half the price. It is somewhat incredulous that businesses before Builder.ai have paid exorbitantly, even for features that have common codes. Even if we’re building something for the first time without replicating any code, we are willing to take a hit as we know we’re going to use it 10 or 15 times for other customers, resulting in cost-sharing and providing economies of scale in pricing,” he said. Read full article @ www.newindianexpress.com/business/2020/feb/29/make-your-own-apps-in-minutes-with-builderai-2110207.html Farnell has published new research on the IoT which confirms strong adoption of Artificial Intelligence within IoT devices, alongside new insights on key markets, enablers and concerns for design engineers working in Internet of Things. AIoT is the major emerging trend from the survey, demonstrating the beginning of the process to build a true Internet of Things ecosystem. Research showed that almost half (49%) of respondents already use Artificial Intelligence in their IoT applications, with Machine Learning the most used technology (28%) followed by cloud-based Artificial Intelligence (19%). This adoption of Artificial Intelligence within IoT design is coupled with a growing confidence to take the lead on IoT development and an increasing number of respondents seeing themselves as innovators. However, it is still evident that some engineers (51%) are hesitant to adopt AI due to being new to the technology or because they require specialized expertise in how to implement AI in IoT applications. Other results from Farnell’s second Global IoT Survey show that security continues to be the biggest concern designers consider in IoT implementation. Although 40% cited security as their biggest concern in 2018 and this has reduced to 35% in 2019, it is still ranked significantly higher than connectivity and interoperability due to the type of data collected from “things” (machines) and humans, which can be very sensitive and personal. Businesses initiating new IoT projects treat Internet of Things security as a top priority by implementing hardware and software security to protect for any kind of potential threat. Ownership of collected data is another important aspect of security, with 70% of respondents preferring to own the data collected by an edge device as opposed to it being owned by the IoT solution provider. Read full article @ medium.com/@aliamalhotra/adoption-of-ai-within-the-iot-ecosystem-c1c6095eef9c |