In reality, machine-learning is already with us, evolving out of search engines like Google and seeping into our everyday lives without much fanfare. If you are an average investor, these systems will give you more reason to trust the value of your portfolio.
Equals 3 – Lucy, market research companion
Lucy knows the answer to 'How much did BMW spend month by month?' She can be asked for keyword research and she knows. The initial license for Lucy costs $50,000 for a year and allows for five users to operate within one brand or marketing category. Lucy comes with a basic set of knowledge and understanding from the get-go – U.S. Census Data, website analytics, social media management, keyword research – but will learn and adapt to the specific uses for which it is applied.
It appears inevitable that companions like Lucy will become the norm very shortly, and Equals 3 wanted to become an early option in the marketing space. They truly believe AI is going to drive a competitive advantage and those that adopt early will win out over those that don't, according to Litman of Equals 3.
Daisy Intelligence – Decision-making assistance
Primarily geared toward retail and insurance industry applications, this SaaS product offers itemized lists of decisions, ranging from the most optimal course of action to the least. "You send us your raw data, our machine analyzes it and spits out decisions", Gary Saarenvirta, CEO of Daisy Intelligence, told Business News Daily. If you can make smarter decisions it can drive your profitability. Saarenvirta claims Daisy could double retailers' profit-margins if used regularly.
In insurance, Daisy operates to detect fraud and provide underwriting recommendations. By identifying suspicious claims, or those that are vastly different than the average claim of its type, the machine signals a human to investigate further. The machine, unlike human beings that get tired and bored, puts as much effort into the 199th item as the first item. Daisy doesn't get tired bored.
Chime - AI for real estate
Chime is aiming to use machine-learning to connect real estate agents with leads that are more likely to pay off, and then streamline the transaction paperwork afterward. "The idea behind Chime was to «bring the real estate industry into the next generation," Matt Murphy, co-founder of the company, said, according to Business News Daily.. There's a lot of intelligence there to optimize workflows in the agents' lives to help increase productivity and minimize time spent on mundane tasks. Chime has been deployed for only several months, but there are already hundreds of clients using the system, Murphy said.
Restless Bandit – Human resources and hiring assistance
Restless Bandit is a SaaS product that automates the candidate-screening process and even reaches out to qualified people for vacant positions. "It will make recruiters more efficient," Steve Goodman, co-founder and CEO of Restless Bandit, said according to Business News Daily. They won't have to weed through the 80 percent of candidates that are clearly not a good fit. Using artificial intelligence, Restless Bandit finds, matches and ranks qualified candidates against the open positions in your organization.
Recruiters and hiring managers are sent daily lists of matches and rankings so they can determine with whom they'd like to follow up for each open position. Goodman says the system will not only save your recruitment staff time and enhance their productivity, but will help deliver higher quality talent to your company as well.
OutsideIQ -Automated regulatory compliance
The amount of time and money spent on filing the proper reports and paperwork with the appropriate levels of government can seem insurmountable and, perhaps, even prohibitive to many companies. However, failing to do so can lead to untold amounts in fines and legal fees, making regulatory compliance a necessary evil. But OutsideIQ is aiming to change that by automating the entire compliance process through artificial intelligence. Broadly, the exciting part is we're seeing actual commercialization of AI now.
Source: Business News Daily