Intuition, Emotional Skills of Humans Will Still Prevail in the Age of AI, Experts Say

From left to right: Matthew Keylock, Head of Data and Analytics, Connected Solutions, Mars Petcare; Dennis Becker,  Director, Global Data Science, Visa; Martin Ford, Author & AI Researcher; Natwar Mall, CEO, Cuddle.ai; Srikanth Velamakanni, co-founder & Group Chief Executive, Fractal Analytics PHOTO: FRACTAL ANALYTICS 

NEW YORK — Some good news (at last) for humankind. Artificial intelligence systems excel at collecting and processing data, but humans, blessed with the innate skills of understanding context, managing interpersonal relationships and having intuition, remain invaluable, said panelists Thursday at the AI.now workshop, hosted by Fractal Analytics.

Advanced AI systems are unable to explain how they make decisions — which means humans also will be needed to supervise.

“You don’t just need people to build AI systems, but you also need people that know how to work with that black box, that have intuition and understand the outcome,” Dennis Becker, director of global data science at Visa Inc., said at a panel event about AI and the future of work.

Many firms and analysts say the big value in AI comes when it’s paired with human workers, in what’s known as “AI augmentation.” In 2021, AI augmentation will generate $2.9 trillion in business value and recover 6.2 billion hours of worker productivity, according to forecasts from Gartner Inc.

IT executives at companies such as Nasdaq Inc. have said they’re developing AI systems  that will help analysts write portions of financial reports, freeing them up to spend more time providing deeper context and advising clients. “For now, the conservative approach is that it’s used as more of a productivity tool. We don’t see 100% elimination of the human,” Brad Peterson, Nasdaq’s chief information and chief technology officer, said in a recent interview.

AI will significantly augment human decision-making at pet food and veterinary health provider Mars Petcare, said Matthew Keylock, the company’s head of data analytics. An AI-enabled activity tracker, for example, could one day help pet owners and veterinarians identify potential diseases sooner, he said. But humans will still be essential especially in areas where intuition and emotion are necessary, he said.

“We can get machines to do some of the job … but human-to-human interaction is still critical. The art of selling, understanding relationships and understanding context is important and really hard,” Mr. Keylock said at the event.

AI could be particularly helpful in areas of health care such as radiology and pathology in which human health care providers currently rely heavily on tissue and imaging analysis, said Steven E. Goldberg, vice president of medical affairs and population health at Quest Diagnostics Inc.

In the future, one doctor could be in charge of 10,000 radiology or pathology-related cases per day that are all machine-reviewed first, said Dr. Goldberg, also chief health officer of health and wellness at Quest.

“You’re less likely to see that occurance in a primary care setting where the intimacy is a bit more important,” he said at a panel session on AI and business value.

Customer service representatives and salespeople could also benefit from AI systems that could predict what a customer might be calling about ahead of time, or offer a salient data point that helps sway prospective customers, said Kjell Carlsson, senior analyst at Forrester Research Inc., at the event.

Companies such as Sprint Corp. are developing such AI software programs, which can suggest the next best steps for call center employees to take during customer calls.

As AI progresses, humans shouldn’t lose sight of our inherent strengths, said Martin Ford, author of the book, Rise of the Robots: Technology and the Threat of a Jobless Future.

“I think it’s very important that we don’t lose our high-level cognitive decision-making and evaluation capabilities,” he said. “That’s something we need to prioritize.”

Attendees from a wide-range of industries will learn how to unlock and accelerate business opportunities through AI

NEW YORK CITY, NY — July 11, 2018 — Fractal Analytics, (www.fractal.ai), a global leader in AI solutions that power human decision-making in Fortune 500 companies, today announced the launch of ai.now, a brand-new conference focused on how Fortune 500 businesses can better leverage artificial intelligence for their organizations. The half-day event, which includes a number of sessions and roundtable discussions, will take place on Wednesday, July 18, 2018 at the One World Trade Center in New York City.

Fractal Analytics’ ai.now is the only industry event of its kind, designed to help Fortune 500 attendees from a wide-range of industries – CPG, financial services, healthcare, insurance, telecom, and retail – learn how to practically implement artificial intelligence for their business. Martin Ford, author of The New York Times bestseller “Rise of the Robots: Technology and the Threat of a Jobless Future,” will keynote. Ford will explore how AI and automation will usher in a new era of man and machine collaboration, with a realistic view of what the future of work, and our place in it, will look like, from education to law, agriculture to healthcare, management and beyond.

“As investments in AI, machine learning and data science surge among Fortune 500 companies, they are seeking ways to realize and maximize the full potential of these new technologies,” said Pranay Agrawal, Co-founder & CEO, Fractal Analytics. “By the end of our first-ever ai.now conference, attendees will be equipped with both an exciting vision for the future of AI in business and, even more importantly, a long list of best practices to start making very positive changes within their organizations.”

Since 2000, Fractal Analytics has been a leading provider of AI and analytics solutions for the world’s largest companies, powering human decision-making across the globe. Fractal has more than 1,200 employees in 14 global offices in the United States, Europe and Asia.

To review the full agenda and complete list of speakers for ai.now, or to register for the event, limited seats, visit: www.fractal.ai/ai-now/

About Fractal Analytics

Founded in 2000, Fractal Analytics is a strategic analytics partner to the most admired Fortune 500 companies globally and helps them power every human decision in the enterprise by bringing analytics & AI to the decision-making process.

Fractal has more than 1,200 employees spread across 14 global locations including the United States, UK and India. Fractal has been featured as a leader in the Customer Analytics Service Providers Wave™ 2017 by Forrester Research, a Great Place to Work by The Economic Times in partnership with the Great Place to Work® Institute, and recognized as a ‘Cool Vendor’ and a ‘Vendor to Watch’ by Gartner.

More than 10.4 million people were infected with tuberculosis in 2016, according to the Center for Disease Control and Prevention. Of those, 1.7 million died from resulting complications, many in developing regions of the world with limited access to radiology departments.

That’s why Qure.ai, an AI health care startup headquartered in Mumbai, developed qXR, a chest x-ray product that can identify 15 of the most common chest x-ray abnormalities. On Thursday, qXR received CE certification from the European Medical Device Directives, clearing the way for commercialization in 32 European countries.

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Fractal Analytics is funding the Qure.ai efforts and plans to invest up to $30 million over the next few years. Qure.ai’s dataset and AI validation are published.

Qure.ai launches AI system to read head CT scans and find abnormalities

Qure.ai, a healthcare startup funded by Fractal Analytics, has launched an artificial intelligence based system to identify abnormalities in head CT scans.

The effort is the latest example of how AI and machine learning are working through the health care industry. Qure.ai released a clinical validation study showing its algorithms were nearly on par with radiologists in a sample of 21,000 patients.

In addition, Qure.ai is making a dataset of 500 AI analyzed head CT scans available for download.

Qure.ai is aimed at a key supply and demand choke point in the healthcare system. Images from MRIs and radiology are outpacing the humans available to interpret them. The general idea is that AI can be used to interpret results and free physicians up for patient care. Speed is also an issue when it comes to interpreting a head CT scan of a stroke victim.

The Qure.ai model was trained with 313,318 anonymized head CT scans and their clinical reports. Out of that sample, 31,095 scans were used to validate the algorithms. From there, AI was clinically validated on 491 CT scans and compared against a panel of three radiologists.

According to Qure.ai, its algorithms were more than 95 percent accurate.

The results were published via Cornell University and the paper is publicly available along with the data set.

Fractal Analytics is planning to invest up to $30 million in Qure.ai in the next few years.

Here’s what a Qure.ai AI-driven CT analysis looks like.

Qure.ai launches AI system to read head CT scans and find abnormalities

Need To Structure Data Science Industry For Better Job Opportunities, Says Sameer Dhanrajani

When Shivaram KR, CEO at Curl Analytics said that when he wanted to see where the future of artificial intelligence lay, he read over 50 science fiction books. This statement by a machine learning expert with over 13 years of work experience, evoked peals of laughter at this year’s edition of Data Science Summit, held in Bengaluru on Friday. Shivaram was speaking about the future of AI and deep learning at the event.

The Data Science Summit event was organised by Institute of Product Leadership (IPL) and saw many noted names such as Atul Batra, CTO at Manthan, Dr Rakesh Mullick, chief scientist at GE, Nitin Sareen, SVP of Analytics at Aditya Birla Group and Sameer Dhanrajani CSO at Fractal Analytics, among others. Industry leaders spoke on a myriad of topics such as early adoption of AI in organisations, making India a key destination for new tech and myths and facts about data science, among others.

When asked about whether data science was merely a buzzword still, or had it gained ‘real’ acceptance as a core science and career in the industry, Sareen said during a panel discussion, “Data science is definitely a real career today. It was previously called analytics, now data science. While it may be more evolved today, it is fundamentally the same techniques at the core. Data science isn’t just a ‘good to have’ anymore. Businesses have realised the potential it has to enhance what they do. Data science is definitely viable and here to stay as a career.”

The response by Dr Rohini Srivathsa, a noted data science and AI leader, evoked peals of laughter from the attendees. She said, “Data science is quite like the garam masala in your kitchen. It has always been there, always adding value. The only difference now is that it is now explicitly being called out and brought to the forefront.”

Talking about career opportunities in data science and analytics, panelists said that most of the resumes were filled with the same keywords. Dhanrajani said, “The folly lies with us, as an industry as well. The challenge for our industry and industry experts lies in identifying what is needed and then standardising the job descriptions, which we put out. We need one voice for one job. With 1,000 odd job titles, expecting job seekers to send in the right resume isn’t possible. We need to work towards structuring the industry better. Ultimately, it is not the title or control that is important. The impact you can make to the client matters most.”

IPL, a Bengaluru-based institute is one of India’s first B-School for technology managers. The institute as well as the event aimed to introduce few key early adapters in AI, bust some of the myths surrounding jobs and career in data science, AI, ML and analytics.

Families in Shilonda village will not fear the upcoming summers and the possibility of water-cuts in their houses. Habitat for Humanity – a global NGO along with Fractal Analytics Pvt. Ltd. is distributing 634 waterwheels to women from marginalized tribal families in Dahanu. The waterwheel is a simple and an effective tool designed for people to carry 45 liters of water from one location to another. This will help the families who travel kilometers to get water for their basic needs.

Children, especially young girls, dropout of school, as they are required to walk long distances to fetch water for their family. With the help of waterwheel, families will now be able to carry 45 liters of water in one trip. This in-turn will save time and energy while also reduce the dropout rate of students from schools.

Habitat for Humanity in partnership with Fractal Analytics to distribute 634 waterwheels

Speaking about the initiative, Rajan Samuel, Managing Director – Habitat for Humanity India said, “At Habitat for Humanity we focus on providing a decent house and good sanitation facilities to families. With Fractal Analytics Pvt. Ltd. we will be able to provide families the means to get clean and hygienic water. These waterwheels are a hope for families to have access to clean drinking water, thus ensuring good health.”

Present at the distribution Chetana Kumar, HeadCorporate Social Responsibility, at Fractal Analyticsa provider of Analytics & AI, said, “Water is an essential resource for life and people travelling long distances every day to secure 10-15 liters of drinking water presents a big challenge.  Additionally, children often fall ill due to a lack of clean water. The waterwheels could be a very useful resource towards ensuring a healthy living for the many families navigating long distances to collect water. Fractal Analytics is happy to be able to support Habitat for Humanity India in this noble cause.”

Consumer Goods Technology (CGT) and RIS News (RIS) are excited to announce that Fractal Analytics, a global leader in artificial intelligence and analytics that powers decision-making in Fortune 500 companies, will be the Title Sponsor for the 2018 Retail and Consumer Goods Analytics Summit.

The 5th Annual Retail & Consumer Goods Analytics Summit (“RCAS”) will be held April 25-27, 2018, at The Drake in Chicago, IL. This event brings together retailers and consumer goods executives to discuss ways to better leverage analytics to improve collaboration and consumer engagement. Retailers and consumer goods executives both gain insights into techniques, technologies, and best practices that will improve sales and marketing, merchandising, supply chain, new product development and other key business initiatives.

For consumer goods and retail organizations, Fractal Analytics can identify future consumer and shopper needs, as well as market trends, through a trifecta of enterprise capabilities: augmented intelligence, artificial intelligence and behavioral science.

Fractal Analytics will be at RCAS to share recent, impressive work in artificial intelligence and machine learning, as well as in behavioral sciences. Fractal will present specific cases from the industry’s largest brands, showcasing how their technology and expertise have been used to drive positive results in the form of more sales, reduced costs, and beyond.

The consumer goods and retail industry is in the throes of a transformation as business models are reimagined based on demand creation and profitable growth. Fractal Analytics is experiencing this change first hand working with their clients.

“This is the right opportunity for analytics to lead the transformation and create profitable growth,” said Amitabh Bose, Chief Practice Officer, CPG & Retail, Fractal Analytics. “In our experience, the trifecta for leading this transformation have been i) digitizing data to augment business intelligence, ii) AI & ML applications for speed and scale, iii) applications of behavioral sciences in bridging the awareness action gap with consumers. We look forward to the event as a great learning place for sharing collective experiences and driving change in the industry.”

Albert Guffanti, Brand Director of CGT, said that having Fractal Analytics as Title Sponsor “brings a great deal of value to RCAS attendees: executives in the CG industry who are interested in finding ways to reach consumers more quickly, more profitably, and in highly personalized ways. Fractal Analytics can provide attendees with practical tools to do exactly that.”

To find out more about the Retail and Consumer Goods Analytics Summit, visit the event’s website.

About Consumer Goods Technology

Consumer Goods Technology, an integrated media brand, is the leading resource for consumer goods executives using technology to drive business transformation. Delivering content through print, online and events, CGT reaches an audience of more than 76,000 executives ranging from managers and directors to VPs and C- suite leaders across all major segments of the consumer goods sector, including packaged goods, consumer electronics, home appliances, and fashion.

About RIS News

RIS News is the leading source for business intelligence, thought leadership and technology insight for retail executives who are seeking engines of innovation and rapidly adapting to market forces that are disruptive and transformational. RIS helps retailers and vendor partners connect with relevant content, exchange ideas with peers and partners, and find best-in class business solutions and strategies that lead to smarter IT and business decisions. The RIS media portfolio includes summit conferences, websites, thought leadership reports, benchmark studies and research, white papers, newsletters and special reports.

About EnsembleIQ

EnsembleIQ is a premier business intelligence resource that exists to help people and their organizations succeed. It is structured to serve the business-to-business needs of retailers, consumer goods manufacturers, technology vendors, marketing agencies and retail service providers by using its integrated network of media and information resources designed to inform, connect and provide actionable marketplace intelligence. EnsembleIQ is a portfolio company of RFE Investment Partners, a private equity investor with more than 30 years of experience investing in growth companies in partnership with strong management teams.

About Fractal Analytics

Founded in 2000, Fractal Analytics is a strategic analytics partner to the most admired Fortune 500 companies globally and helps them power every human decision in the enterprise by bringing analytics & AI to the decision-making process.

Fractal has more than 1,200 employees spread across 14 global locations including the United States, UK and India. Fractal has been featured as a leader in the Customer Analytics Service Providers Wave 2017 by Forrester Research, a Great Place to Work by The Economic Times in partnership with the Great Place to Work Institute, and recognized as a “Cool Vendor” and a “Vendor to Watch” by Gartner.

Fractal Analytics buys Final Mile as AI, data science meld with behavioral science

Fractal Analytics’ purchase of Final Mile illustrates how multiple disciplines are melding together to advance artificial intelligence, analytics and data science.

By Larry Dignan for Between the Lines |  | Topic: Artificial Intelligence

Fractal Analytics, a data science, analytics and artificial intelligence company, is acquiring Final Mile, which aims to apply behavioral science to understand and influence human behavior to solve big problems.

Terms of the deal weren’t disclosed, but the big picture of how artificial intelligence, psychology and economics can blend together is worth noting. The upshot is disciplines such as cognitive neuroscience, behavioral economics, design, data science and engineering are going to comingle to advance artificial intelligence.

Indeed, the Fractal Analytics and Final Mile combination is another data point in the integration of disciplines trend. MIT recently launched an initiative collapsing various silos to develop artificial intelligence that will be more human-like.

Fractal Analysis has 1,200 employees and specializes in AI and analytics for large enterprises sees the social science value in Final Mile, which has worked on big issues such as HIV in Africa, train deaths in India and child trafficking. Final Mile bills itself as a behavioral architect.

According to Fractal Analytics CEO Srikanth Velamakanni the combination of data science and behavioral science can bolster client outcomes but also advance the human-machine interface going forward.

Here’s an example of how Fractal Analytics thinks about a customer interaction.

Fractal Analytics buys Final Mile as AI, data science meld with behavioral science

Final Mile also looks at the customer journey but delves into much deeper issues and researching behavior. Final Mile, founded in 2008, is led by Biju Dominic, said about the merger:

Data and AI can dramatically improve our understanding of human behavior,
inform better hypotheses, and complement our work with clients in
achieving sustained behavior change.

Final Mile’s approach revolves around economist Richard Thaler’s nudge theory, which dictates that changes in a consumer’s environment where they make choices can positively influence decision-making.

What is AI? Everything you need to know about Artificial Intelligence

The two companies had become partners in 2007. Fractal Analytics covers industries such as consumer packaged goods, financial services, healthcare, insurance, technology, media and retail. Final Mile also has financial services and insurance companies as clients. One Final Mile case study revolves around embedding integrity in an insurance company’s employees.

 

Global leader in human-centered AI adds the ‘nudge’ theory to its toolkit

NEW YORK, NY – March 14, 2018

Fractal Analytics (www.fractal.ai), a global leader in artificial intelligence and analytics that powers decision-making in Fortune 500 companies, today announced the acquisition of Final Mile. Final Mile is a pioneer in driving behavior change, integrating cognitive neuroscience, behavioral economics and design to solve critical business and developmental sector challenges.

“While artificial intelligence is becoming an integral part of products and services we consume, AI needs to incorporate better understanding of human behavior to improve human-machine interface, simplify information consumption and drive lasting behavior change,” said Srikanth Velamakanni, Group Chief Executive & Executive Vice-Chairman, Fractal Analytics. “With this acquisition, we are bringing data science and behavioral science together to drive better outcomes for our clients.”

Founded in 2008, Final Mile is a leader in the application of behavioral sciences to understand decision-making and influence consumer and social behavior. Final Mile has helped solve behavioral challenges in financial services, healthcare, consumer goods, ecommerce, and developmental and nonprofit sectors. An award-winning firm, Final Mile uses innovative research methods like games and simulations to truly understand the non-conscious reasons behind what people do and develop interventions to drive sustainable behavior change.

“The human decision-making process is complex,” said Biju Dominic, Co-founder and Chief Executive Officer, Final Mile. “To fundamentally address a challenge or shape the decision-making process, one must identify and understand what truly drives behavior. Organizations can achieve better outcomes by applying learnings from cognitive neuroscience, behavioral economics and design. That is our focus.”

At the cornerstone of Final Mile’s approach is the “nudge” theory created by Nobel prize-winning economist Richard Thaler. The nudge theory suggests that changes in a consumer’s “choice architecture” – the environment in which people make choices – can positively influence their decision-making and lead to better choices.

Explained Srikanth: “Final Mile’s track record in influencing human behavior through behavioral science, combined with Fractal’s data science and AI capabilities, will help our clients drive lasting behavior change internally and externally.”

Added Biju: “Data and AI can dramatically improve our understanding of human behavior, inform better hypotheses, and complement our work with clients in achieving sustained behavior change. We see extraordinary opportunities to deliver greater value to our clients in partnering with Fractal over the long term.”

The acquisition comes on the heels of a successful partnership between the companies that began in 2017.

For more information about Fractal Analytics please visit, www.fractal.ai.

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About Fractal Analytics

Founded in 2000, Fractal Analytics is a strategic analytics partner to the most admired Fortune 500 companies globally and helps them power every human decision in the enterprise by bringing analytics & AI to the decision-making process.

Fractal has more than 1,200 employees spread across 14 global locations including the United States, UK and India. Fractal has been featured as a leader in the Customer Analytics Service Providers Wave™ 2017 by Forrester Research, a Great Place to Work by The Economic Times in partnership with the Great Place to Work® Institute, and recognized as a ‘Cool Vendor’ and a ‘Vendor to Watch’ by Gartner.

About Final Mile

Founded in 2008, Final Mile Consulting pioneers the practice of Behavior Architecture – the application of behavioral sciences to understand decision making and influence consumer and social behavior. Final Mile has worked on behavioral challenges in financial services, healthcare, consumer goods, ecommerce, safety and sanitation. They have offices in United States and India and engagements across the globe.