Starting this week, we’re putting together a list of data, customer experience (CX), and artificial intelligence (AI) stories we’re reading here at Finalytics.ai. We hope these are helpful in supporting your members, customers, and businesses.
Data issues in banking digital transformation:
According to Gartner one-third of banking CIO’s cite digital transformation as their top business priority. With modern digital payments systems like PayPal and Apple Pay, consumers expect instant transactions. Yet slow, sometimes manual and legacy data infrastructure is holding back many core back-end bank business processes including account changes and inter-bank funds transfers, etc.
Clark goes on to talk about how “an active/active database implementation is an underlying data architecture that makes transformation possible, affordable and resilient.”
How fast is fast?
We were blown away reading about the world’s fastest AI supercomputer that delivers “nearly four exaFLOPS of AI performance.” One exaFLOPS is equivalent to one quintillion (1018) floating-point operations per second. To match this computer, you’d have to perform one calculation every second for 126,755,060,000 years. If you want to read more, here is the article about the world’s fastest AI supercomputer.
The state of data
We are a little afraid of sharing Gil Press‘ article on the state of data in Forbes with our Chief Data Officer, Mark Ryan. We may not see him for days. Press quotes over 50 stats that paint a picture of the current state of big data, AI, robotics, and other data fields. Here is an example of one.
30 million: the number of predictions per second a single AI model can make in order to match Pinterest users’ interests with relevant ads [WSJ]
Shifting attitudes towards AI
James Alty, Managing Director and Founder at Apteco, has a great article in IT Portal about the impact of the pandemic on attitudes towards AI. Alty notes that “some industries have pushed ahead with their use of AI and machine learning, but plenty of others have seen little change in their attitudes towards the technology.” He points to healthcare, education, and fitness as industries that have accelerated the use of AI and machine learning.