Advanced Analytics and Ai - Impact, Implementation, and the Future of Work

Be prepared for the arrival of automated decision making
 
Once thought of as science fiction, major corporations are already beginning to use cognitive systems to assist in providing wealth advice and also in medication treatment. The use of Cognitive Analytics/Artificial Intelligence (AI) Systems is set to accelerate, with the expectation that it'll be considered 'mainstream' in the next 5 - 10 years. It'll change the way we as individuals interact with data and systems--and the way we run our businesses.
 
Cognitive Analysis and AI prepares business users for the era of cognitive analytics / artificial intelligence. Building on established texts and commentary, it specifically prepares you in terms of expectation, impact on personal roles, and responsibilities. It focuses on the specific impact on key industries (retail, financial services, utilities and media) and also on key professions (such as accounting, operational management, supply chain and risk management).
* Shows you how users interact with the system in natural language
* Explains how cognitive analysis/AI can source 'big data'
* Provides a roadmap for implementation
* Gets you up to speed now before you get left behind
 
If you're a decision maker or budget holder within the corporate context, this invaluable book helps you gain an advantage from the deployment of cognitive analytics tools.

List of contents

Acknowledgements xi
 
Preamble: Wellington and Waterloo xiii
 
Introduction xv
 
Prologue: What Do We Mean by Work? 1
 
Summary 1
 
Introduction 1
 
Slavery or Freedom? 2
 
The Rise of Industrialisation 4
 
Gen Z and the Flat White Society 8
 
The Impact of Unemployment 9
 
Replacing the Need to Work 12
 
Conclusion 13
 
Notes 14
 
CHAPTER 1 Introduction to Analytics 15
 
Summary 15
 
Introduction 15
 
Business Intelligence 17
 
Advanced Analytics 20
 
Prescriptive Analytics 25
 
Business Rules 27
 
Cognitive Analytics 29
 
The Accuracy of Analytical Outputs 31
 
Conclusion 34
 
Notes 35
 
CHAPTER 2 Artificial Intelligence 37
 
Summary 37
 
Introduction 37
 
The Turing Test 38
 
The Dartmouth Event 40
 
Post-Dartmouth, the AI Winter, and Singularity 41
 
Springtime for AI? 43
 
How Does AI Work? 45
 
Can Computers Be Creative? 48
 
Conclusion 50
 
Notes 51
 
CHAPTER 3 The Impact of AI on Leading-Edge Industries 53
 
Summary 53
 
Introduction 53
 
Financial Services 57
 
Retail Banking 57
 
Commercial Banking 59
 
Investment Banking 60
 
Wealth Management 62
 
Insurance 63
 
Automobiles 67
 
AI Implementation Timeline 68
 
Key Developments 69
 
Innovating to Zero 71
 
AI and Motor Manufacturing 72
 
Media, Entertainment, and Telecom 77
 
Retail 79
 
Conclusion 83
 
Notes 84
 
CHAPTER 4 The Impact of AI on Second-Mover Industries 88
 
Summary 88
 
Introduction 88
 
Construction 89
 
Augmented Reality 90
 
Drones and Remote Imagery 91
 
Contractor Plant and Equipment 92
 
Employee Behaviour 92
 
Cultural Change in Construction 94
 
Utilities and Infrastructure Resilience 95
 
Construction Industry Summary 96
 
Utilities 97
 
Electrical Power 97
 
Gas 98
 
Water 98
 
Wastewater 99
 
Smart Homes, Smart Infrastructure? 99
 
Interconnectivity, Poverty, and Famine 100
 
Public Services 101
 
Education 104
 
Policing 107
 
Healthcare 108
 
Agriculture 109
 
Technology Industry 111
 
Conclusion 113
 
Notes 114
 
CHAPTER 5 The Impact of AI on Professions 117
 
Summary 117
 
Introduction 117
 
Work and Professions 118
 
The Importance of Competences 122
 
The Morevec Paradox and Why it Threatens Professionals 122
 
Management 124
 
Office of Finance 125
 
Legal Profession 127
 
Sales and Marketing 130
 
Retailers 131
 
Commercial Media 133
 
Creative Arts 134
 
Publishing 135
 
Transportation 137
 
The Digital Railway 137
 
Autonomous Flight and Virtual Pilots 138
 
Air Traffic Controller 139
 
Engineers and the Built Environment 140
 
Building Engineers 140
 
Building Planners 141
 
Medical Profession 142
 
General Practitioners 143
 
Dentists 143
 
Neurosurgeons 143
 
Data Centres 145
 
Entrepreneurs 147
 
Conclusion 150
 
Notes 151
 
CHAPTER 6 Risk and Regulation 155
 
Summary 155
 
Introduction 155
 
What Is Risk? 156
 
Techno

About the author

TONY BOOBIER is a former worldwide executive at IBM focusing on financial services. With over 30 years of experience, he is a frequent writer and international public speaker. He possesses a deep understanding of how to apply business intelligence and analytics to enhance the management and delivery of products and services in numerous industries. A recognised expert in customer analytics, risk and operational effectiveness, he's a strong advocate for enterprise-wide analytics to improve service and reduce cost. A Fellow of the Chartered Institute of Civil Engineers and the Chartered Institute of Marketing, coupled with qualifications in insurance and supply chain management, he is also the author of Analytics for Insurance.

Summary

Be prepared for the arrival of automated decision making

Once thought of as science fiction, major corporations are already beginning to use cognitive systems to assist in providing wealth advice and also in medication treatment. The use of Cognitive Analytics/Artificial Intelligence (AI) Systems is set to accelerate, with the expectation that it'll be considered 'mainstream' in the next 5 - 10 years. It'll change the way we as individuals interact with data and systems--and the way we run our businesses.

Cognitive Analysis and AI prepares business users for the era of cognitive analytics / artificial intelligence. Building on established texts and commentary, it specifically prepares you in terms of expectation, impact on personal roles, and responsibilities. It focuses on the specific impact on key industries (retail, financial services, utilities and media) and also on key professions (such as accounting, operational management, supply chain and risk management).
* Shows you how users interact with the system in natural language
* Explains how cognitive analysis/AI can source 'big data'
* Provides a roadmap for implementation
* Gets you up to speed now before you get left behind

If you're a decision maker or budget holder within the corporate context, this invaluable book helps you gain an advantage from the deployment of cognitive analytics tools.

Product details

• Authors: T Boobier, Tony Boobier, Boobier Tony
• Publisher: Wiley, John and Sons Ltd
• Languages: English
• Product format: Hardback
• Released: 31.05.2018
• EAN: 9781119390305
• ISBN: 978-1-119-39030-5
• No. of pages: 304
• Series: Wiley Finance; Wiley Finance Editions; Wiley Finance; Wiley Finance Editions
• Subjects: Guides > Law, job, finance; Natural sciences, medicine, IT, technology > IT, data processing > IT; Informatik, Künstliche Intelligenz, Artificial Intelligence, Finanzwesen, computer science, Allg. Finanz- u. Anlagewesen, Finance & Investments, Finanz- u. Anlagewesen