The use of of scalable machine learning and analytics systems across the mostcritical government as well as commercial institutions in the world to solvesome of the hardest (or not, depending on how you see it) analytical problemsof our times can be more easily seen now a days.

This augmentation and empowerment of the decision making process is quiteevident to the finance professionals throughout the global financial system andnot just limited to the fin-tech world.

From Robo advisory to research to reporting to deep analysis to buildingcomplex trading strategies and portfolio management with long tentacles tomimicking (perfecting) emotion free human intelligence & decision making andto presenting the all these causal inferences to mankind in a fraction of timethan possible earlier.

Artificial Intelligence and machine learning is now beginning to be effectivelybeing used to make a real impact in not just economics and health care but alsospace research and much more. The models that are being designed today arenot limited to certain amount of data but prepared for the unlimited bounds ofthe data that will only increase in size and dimension with time.

Artificial Intelligence, civilization’s newest technology, when used to its truepotential can and will better explain the solutions to the most complex human,social, economic problems as well as the scientific advances to a domain wheresuch problems do not exist. Several tech trends are currently driving the latest technology revolution,including:

  • Big Data
  • Artifi cial Intelligence and machine learning
  • 5 G
  • Self Driving Cars
  • Robotic advisors / (scientists with the basis of machine learning)
  • Computer Vision
  • Chatbots
  • Facial Recognition
  • Virtual Reality
  • Personalised service (through Alexa, Google search, Spotify music)
  • Secured Transactions

Some of these advancements would not be possible without the basetechnologies being available. Every analytical answer is hidden behind largevolumes of data and to successfully decipher, analyse and traverse through thisdata one requires the cognitive power beyond current human capability. Thishas now been made possible with the advent of large super computers withquantum processing powers and super large memories that can processTerabytes of data in milli-seconds.

In recent times, (2011), IBM’s Watson AI system beat two human contestants atthe game show Jeopardy! These were two of the most successful contestants atthe show. Last year Google announced with much fanfare that it had achieved “quantumsupremacy” –the point at which a quantum computer can perform a task thatwould be impossible for a conventional computer (or would take so long itwould be entirely impractical for a conventional computer).

Microsoft also revealed its Suphx AI that could also beat top players at thecomplex Chinese game Mahjong. Again, last year we found out that AI can now solve Rubik’s cube in 1.2 seconds– just over one third of the time taken by the current world record holder.However, this AI solution does suffer with the black box problem.

MIT announced an AI tool last year that can predict breast cancer up to 5 yearsearly. All these examples, while not much in themselves, go on to show the increasingcognitive abilities of modern computers and Artificial Intelligence going beyondhuman levels. Now, while we are at the infancy of human wearables and augmented humansbut the potential, once realised, will be huge and will dominate much of humanlife. It will not just be restricted to fitness tracker bands, smart watches,prosthetics or sports shoes.