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Applications of Artificial Intelligence and Machine Learning in Businesses

According to a report by BofA Merrill Lynch, the Robots and Artificial Intelligence solutions market will grow to $153 billion dollars by 2020 – comprising 83 billion dollars for robot and robotics and 70 billion dollars for AI-based analytics. As Venkat Viswanathan, chairman and founder at LatentView Analytics states, "What can be automated should be. In rule based processes, AI is more efficient than human interaction. However, we are far away from AI being center stage. I estimate that on an average about 90 percent of analysis today is done by humans and 10 percent by machines. As we build technology that helps machines get smarter, this will change. In another 10 years, machines will do 50 percent of analysis." With this in mind, LatentView Analytics outlines how organizations can begin implementing AI with the Applications of Artificial Intelligence and Machine Learning in Businesses Infographic.

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IT Convergence

IT Convergence is a global Oracle software services provider with core competencies in Consulting, Managed Services, Development, Education, and Hosting Services. Our comprehensive full-service value offering allows you to streamline the process of implementing, upgrading or customizing an application, supporting your environment and effectively managing your enterprise software lifecycle.

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Application Development Platform

Empowering Industry 4.0 with Artificial Intelligence

Article | March 15, 2024

The next step in industrial technology is about robotics, computers and equipment becoming connected to the Internet of Things (IoT) and enhanced by machine learning algorithms. Industry 4.0 has the potential to be a powerful driver of economic growth, predicted to add between $500 billion- $1.5 trillion in value to the global economy between 2018 and 2022, according to a report by Capgemini.

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Application Development Platform

How Artificial Intelligence Is Transforming Businesses

Article | March 1, 2024

Whilst there are many people that associate AI with sci-fi novels and films, its reputation as an antagonist to fictional dystopic worlds is now becoming a thing of the past, as the technology becomes more and more integrated into our everyday lives. AI technologies have become increasingly more present in our daily lives, not just with Alexa’s in the home, but also throughout businesses everywhere, disrupting a variety of different industries with often tremendous results. The technology has helped to streamline even the most mundane of tasks whilst having a breath-taking impact on a company’s efficiency and productivity

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API Management, IDE

The advances of AI in healthcare

Article | June 28, 2024

With the Government investing £250 million into the project, the Lab will consider how to use AI for the benefit of patients – whether this be the deployment of existing AI methods, the development of new technologies or the testing of their safety. Amongst other things, the initiative will aim to deliver earlier diagnoses of cancer. It is estimated that in excess of 50,000 extra patients could see their cancer being detected at an early stage, thus boosting survival rates. More specifically, a study has shown that AI is quicker in identifying brain tumour tissue than a pathologist.This would have a positive knock-on effect in other areas, such as enabling money to be saved (that otherwise would have been spent on further treatment) and reducing the workload of staff (at a time when there is a crisis in NHS workforce numbers).

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Three Keys to Successful AI Adoption

Article | February 10, 2020

Over the past several years, we have begun to see the emergence of artificial intelligence (AI) in businesses. According to a study for the AI Index 2019 Annual Report, more than half of respondents report their companies are using AI in at least one function or business unit. Thirty percent report they have AI embedded across multiple areas of their business. As businesses continue to develop their understanding of what is possible with AI, we can expect to see a continued increase in AI adoption.

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Application Development Platform

Application Development Best Practices for Improved Efficiency

Article | March 15, 2024

The next step in industrial technology is about robotics, computers and equipment becoming connected to the Internet of Things (IoT) and enhanced by machine learning algorithms. Industry 4.0 has the potential to be a powerful driver of economic growth, predicted to add between $500 billion- $1.5 trillion in value to the global economy between 2018 and 2022, according to a report by Capgemini.

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Application Development Platform

Transforming Development Workflows with Integrated Environments

Article | March 1, 2024

Whilst there are many people that associate AI with sci-fi novels and films, its reputation as an antagonist to fictional dystopic worlds is now becoming a thing of the past, as the technology becomes more and more integrated into our everyday lives. AI technologies have become increasingly more present in our daily lives, not just with Alexa’s in the home, but also throughout businesses everywhere, disrupting a variety of different industries with often tremendous results. The technology has helped to streamline even the most mundane of tasks whilst having a breath-taking impact on a company’s efficiency and productivity

Read More
API Management, IDE

Best IDE Testing Platforms for Secure Systems in 2024

Article | June 28, 2024

With the Government investing £250 million into the project, the Lab will consider how to use AI for the benefit of patients – whether this be the deployment of existing AI methods, the development of new technologies or the testing of their safety. Amongst other things, the initiative will aim to deliver earlier diagnoses of cancer. It is estimated that in excess of 50,000 extra patients could see their cancer being detected at an early stage, thus boosting survival rates. More specifically, a study has shown that AI is quicker in identifying brain tumour tissue than a pathologist.This would have a positive knock-on effect in other areas, such as enabling money to be saved (that otherwise would have been spent on further treatment) and reducing the workload of staff (at a time when there is a crisis in NHS workforce numbers).

Read More

Three Keys to Successful AI Adoption

Article | February 10, 2020

Over the past several years, we have begun to see the emergence of artificial intelligence (AI) in businesses. According to a study for the AI Index 2019 Annual Report, more than half of respondents report their companies are using AI in at least one function or business unit. Thirty percent report they have AI embedded across multiple areas of their business. As businesses continue to develop their understanding of what is possible with AI, we can expect to see a continued increase in AI adoption.

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IT Convergence

IT Convergence is a global Oracle software services provider with core competencies in Consulting, Managed Services, Development, Education, and Hosting Services. Our comprehensive full-service value offering allows you to streamline the process of implementing, upgrading or customizing an application, supporting your environment and effectively managing your enterprise software lifecycle.

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Software

BMC Software Announces AIOps in BMC Helix for AI-Optimized IT Ops

BMC Software | November 06, 2023

BMC Software's new AIOps capabilities in BMC Helix Operations Management use AI for quick IT issue resolution. The solution boosts IT operations in hybrid, multi-cloud environments, enhancing visibility and service performance. New features like service blueprints, causal AI-powered explainability, and AIOps situation fingerprinting expedite incident resolution and risk recovery. BMC Software, a global leader in IT solutions, announces new AIOps capabilities for its BMC Helix Operations Management solution using the BMC HelixGPT capability. The solution uses advanced AI to find problems' root causes more quickly. It changes the way IT works by adding dynamic service modeling, situation explainability, and deep container auto-detection to better understand containerized environments. As businesses grapple with complex hybrid, multi-cloud environments and increasing data volume and complexity, the need for advanced AI and machine learning to drive visibility, observability, and optimum business service performance is paramount. Nancy Gohring, research director for IDC's Enterprise System Management, Observability and AIOps program, emphasized the importance of modernizing IT operations in line with the adoption of hybrid and cloud-native technologies. AIOps capabilities that leverage AI to pinpoint problem causes, guide users to the correct response, and predict potential future issues are key to ensuring service delivery aligns with business outcomes. The BMC Helix Operations Management solution combines advanced causal AI to identify issue root causes, predictive AI for proactive problem identification and resolution, and generative AI for automating event summaries and best action recommendations for complex problems. These innovations enable IT operations to deliver higher service availability and resilience to businesses, driving efficient operational performance with greater tool silo visibility and superior AI-driven insights for significantly improved problem identification and repair times. The new BMC Helix Operations Management innovations include out-of-the-box service blueprints, situation explainability powered by causal AI, and AIOps situation fingerprinting powered by AI, GPT, and NLP. These features ensure accurate service models in ever-changing IT environments, swift incident resolution, and faster recovery from service outages and other potential risks. While the new AIOps capabilities in BMC's Helix Operations Management solution offer a host of benefits, they also present potential challenges. The complexity of AI systems can lead to difficulties in understanding and controlling their operations, which could pose challenges in troubleshooting and rectifying issues. Additionally, the heavy reliance on AI might reduce the level of human oversight in IT operations, which could be risky in certain scenarios. The effectiveness of the solution is also heavily dependent on the quality and quantity of data it receives, which might not always be optimal in real-world scenarios. On the brighter side, the benefits of this solution are substantial. The use of advanced AI capabilities allows for swift identification and resolution of IT issues, greatly improving operational efficiency. The solution's ability to enhance IT operations in complex hybrid, multi-cloud environments is a significant advantage, as it provides much-needed visibility and service performance. The new features, including out-of-the-box service blueprints, causal AI-powered explainability, and AIOps situation fingerprinting, ensure swift incident resolution and faster recovery from potential risks. These innovations lead to higher service availability and resilience, which are crucial for businesses in today's digital age. Overall, despite some potential challenges, the BMC Helix Operations Management solution's new AIOps capabilities present a promising advancement in the field of IT operations management.

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General AI

Deloitte Strengthens ERP Efficiency via AI Integration in SAP BTP

Deloitte | October 13, 2023

Deloitte integrates Generative AI into SAP BTP to optimize ERP services. The Clean Core + Edge Innovation strategy streamlines cloud development and AI in SAP BTP. Deloitte's AI commitment evident in training 120,000 professionals, recognized by SAP. Deloitte's latest move involves an expansion in its practices for the SAP Business Technology Platform (SAP BTP) by incorporating generative AI solutions for its clients. The integration of these advanced technologies aims to streamline processes and provide data-driven insights, ultimately enhancing the value delivered to clients within the enterprise resource planning (ERP) domain. Deloitte's strategy, known as Clean Core + Edge Innovation, emphasizes the fusion of cloud application development and AI capabilities within the SAP BTP framework. The goal is to enable clients to derive tangible business outcomes while minimizing technical complexities. By leveraging SAP BTP's capabilities in conjunction with Generative AI, Deloitte anticipates delivering tailored solutions optimized for cloud-based ERP platforms. Chip Kleinheksel, Enterprise Performance Generative AI Leader and SAP Chief Technology Officer at Deloitte Consulting LLP, reportedly emphasized, Our efforts to drive innovation and value for clients remain at the forefront of our strategy. Expanding our SAP BTP practices is the next step in our journey, bolstering our AIOPS.D micro-solutions and enabling SAP AI Services to facilitate autonomous processes within industry-specific cloud solutions. [Source – CISION PR Newswire] Juergen Mueller, Chief Technology Officer and Executive Board Member of SAP SE, highlighted the significance of SAP BTP in fostering generative AI-powered applications across various business functions. He reportedly stated, Deloitte's Clean Core + Edge Innovation approach can accelerate opportunities for transformation through generative AI, particularly in conjunction with SAP S/4HANA and SAP BTP. This expansion highlights our commitment to continuously innovating and unlocking new value for customers. [Source – CISION PR Newswire] Furthermore, Deloitte's Clean Core + Edge Innovation approach aims to reduce technical debt and facilitate agile innovation through SAP BTP's capabilities, such as low-code application extensions and API-driven integration. The integration of generative AI applications, including agent-based simulation, virtual assistants, predictive analytics, computer vision, and natural language processing, seeks to bolster enterprise productivity and expertise. Deloitte's commitment to advancing its generative AI capabilities is underscored by its investment in training over 120,000 professionals through the AI Academy, as well as its substantial financial commitment to global technology learning and development initiatives. With the recent recognition from SAP through the SAP Pinnacle Award and the Premium Supplier Designation for Cloud Managed Services, Deloitte remains dedicated to delivering innovative solutions to its clients, solidifying its position as a leader in the professional services landscape.

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Docupace Releases Developer Portal to Catalyze Fintech Innovation

Docupace | September 22, 2023

Docupace Technologies, renowned for its cloud-based fintech solutions tailored to the wealth management sector, has introduced the Developer Portal, a comprehensive hub designed to empower developers. It serves as a one-stop shop for developers to access and utilize Docupace's APIs and associated developer resources. It is set to facilitate innovation and collaboration within the financial technology industry. The Developer Portal provides an extensive array of resources, including detailed API documentation, tutorials, widgets, and practical examples. Developers can also perform tasks such as creating accounts, generating API keys, and testing their applications with Docupace's live APIs through this portal. Liz Pavlik, Executive of Product Management for Docupace, reportedly expressed excitement, stating, We are excited to launch our Developer Portal and make it easier for developers to build innovative solutions using our APIs. Our goal is to provide developers with the resources they need to be successful, and we believe the Developer Portal will play a key role in achieving that goal. [Source – Cision PR Newswire] Key features of the Docupace API Developer Portal: Comprehensive Documentation: In-depth insights into each API, including usage instructions, endpoints, parameters, authentication methods, and response formats. Tutorials and Examples: Resources to assist developers in getting started with Docupace's APIs Self-Service Account Management: Developers can create accounts, generate API keys, and manage subscriptions within the portal. Live API Testing: A platform for developers to test their applications against live APIs Interactive Code Samples: Real-world code samples in multiple programming languages to aid integration with the Docupace Platform. Robust Testing Environment: Controlled sandbox environment for efficient code validation and troubleshooting. Community Collaboration: A platform for developers to discuss, share knowledge, and collaborate on projects Matt Fields, Vice President of Research and Development at Docupace, affirmed the company's commitment to ongoing development and encouraged developers to provide feedback and suggestions through the portal's AI chatbot. About Docupace Docupace, headquartered in Los Angeles, California, is a leading digital operations technology provider specializing in streamlining and digitizing processes for wealth management firms. Its secure, cloud-based Docupace Platform offers solutions for client onboarding, document management, advisor transitions, cybersecurity, and regulatory compliance. With a focus on efficiency and compliance, Docupace serves a diverse range of financial firms, including some of the industry's largest players. Its expertise lies in web-based solutions, imaging, workflow management, and SaaS offerings, making them a valuable partner for financial services organizations seeking operational enhancements.

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Software

BMC Software Announces AIOps in BMC Helix for AI-Optimized IT Ops

BMC Software | November 06, 2023

BMC Software's new AIOps capabilities in BMC Helix Operations Management use AI for quick IT issue resolution. The solution boosts IT operations in hybrid, multi-cloud environments, enhancing visibility and service performance. New features like service blueprints, causal AI-powered explainability, and AIOps situation fingerprinting expedite incident resolution and risk recovery. BMC Software, a global leader in IT solutions, announces new AIOps capabilities for its BMC Helix Operations Management solution using the BMC HelixGPT capability. The solution uses advanced AI to find problems' root causes more quickly. It changes the way IT works by adding dynamic service modeling, situation explainability, and deep container auto-detection to better understand containerized environments. As businesses grapple with complex hybrid, multi-cloud environments and increasing data volume and complexity, the need for advanced AI and machine learning to drive visibility, observability, and optimum business service performance is paramount. Nancy Gohring, research director for IDC's Enterprise System Management, Observability and AIOps program, emphasized the importance of modernizing IT operations in line with the adoption of hybrid and cloud-native technologies. AIOps capabilities that leverage AI to pinpoint problem causes, guide users to the correct response, and predict potential future issues are key to ensuring service delivery aligns with business outcomes. The BMC Helix Operations Management solution combines advanced causal AI to identify issue root causes, predictive AI for proactive problem identification and resolution, and generative AI for automating event summaries and best action recommendations for complex problems. These innovations enable IT operations to deliver higher service availability and resilience to businesses, driving efficient operational performance with greater tool silo visibility and superior AI-driven insights for significantly improved problem identification and repair times. The new BMC Helix Operations Management innovations include out-of-the-box service blueprints, situation explainability powered by causal AI, and AIOps situation fingerprinting powered by AI, GPT, and NLP. These features ensure accurate service models in ever-changing IT environments, swift incident resolution, and faster recovery from service outages and other potential risks. While the new AIOps capabilities in BMC's Helix Operations Management solution offer a host of benefits, they also present potential challenges. The complexity of AI systems can lead to difficulties in understanding and controlling their operations, which could pose challenges in troubleshooting and rectifying issues. Additionally, the heavy reliance on AI might reduce the level of human oversight in IT operations, which could be risky in certain scenarios. The effectiveness of the solution is also heavily dependent on the quality and quantity of data it receives, which might not always be optimal in real-world scenarios. On the brighter side, the benefits of this solution are substantial. The use of advanced AI capabilities allows for swift identification and resolution of IT issues, greatly improving operational efficiency. The solution's ability to enhance IT operations in complex hybrid, multi-cloud environments is a significant advantage, as it provides much-needed visibility and service performance. The new features, including out-of-the-box service blueprints, causal AI-powered explainability, and AIOps situation fingerprinting, ensure swift incident resolution and faster recovery from potential risks. These innovations lead to higher service availability and resilience, which are crucial for businesses in today's digital age. Overall, despite some potential challenges, the BMC Helix Operations Management solution's new AIOps capabilities present a promising advancement in the field of IT operations management.

Read More

General AI

Deloitte Strengthens ERP Efficiency via AI Integration in SAP BTP

Deloitte | October 13, 2023

Deloitte integrates Generative AI into SAP BTP to optimize ERP services. The Clean Core + Edge Innovation strategy streamlines cloud development and AI in SAP BTP. Deloitte's AI commitment evident in training 120,000 professionals, recognized by SAP. Deloitte's latest move involves an expansion in its practices for the SAP Business Technology Platform (SAP BTP) by incorporating generative AI solutions for its clients. The integration of these advanced technologies aims to streamline processes and provide data-driven insights, ultimately enhancing the value delivered to clients within the enterprise resource planning (ERP) domain. Deloitte's strategy, known as Clean Core + Edge Innovation, emphasizes the fusion of cloud application development and AI capabilities within the SAP BTP framework. The goal is to enable clients to derive tangible business outcomes while minimizing technical complexities. By leveraging SAP BTP's capabilities in conjunction with Generative AI, Deloitte anticipates delivering tailored solutions optimized for cloud-based ERP platforms. Chip Kleinheksel, Enterprise Performance Generative AI Leader and SAP Chief Technology Officer at Deloitte Consulting LLP, reportedly emphasized, Our efforts to drive innovation and value for clients remain at the forefront of our strategy. Expanding our SAP BTP practices is the next step in our journey, bolstering our AIOPS.D micro-solutions and enabling SAP AI Services to facilitate autonomous processes within industry-specific cloud solutions. [Source – CISION PR Newswire] Juergen Mueller, Chief Technology Officer and Executive Board Member of SAP SE, highlighted the significance of SAP BTP in fostering generative AI-powered applications across various business functions. He reportedly stated, Deloitte's Clean Core + Edge Innovation approach can accelerate opportunities for transformation through generative AI, particularly in conjunction with SAP S/4HANA and SAP BTP. This expansion highlights our commitment to continuously innovating and unlocking new value for customers. [Source – CISION PR Newswire] Furthermore, Deloitte's Clean Core + Edge Innovation approach aims to reduce technical debt and facilitate agile innovation through SAP BTP's capabilities, such as low-code application extensions and API-driven integration. The integration of generative AI applications, including agent-based simulation, virtual assistants, predictive analytics, computer vision, and natural language processing, seeks to bolster enterprise productivity and expertise. Deloitte's commitment to advancing its generative AI capabilities is underscored by its investment in training over 120,000 professionals through the AI Academy, as well as its substantial financial commitment to global technology learning and development initiatives. With the recent recognition from SAP through the SAP Pinnacle Award and the Premium Supplier Designation for Cloud Managed Services, Deloitte remains dedicated to delivering innovative solutions to its clients, solidifying its position as a leader in the professional services landscape.

Read More

Software

Docupace Releases Developer Portal to Catalyze Fintech Innovation

Docupace | September 22, 2023

Docupace Technologies, renowned for its cloud-based fintech solutions tailored to the wealth management sector, has introduced the Developer Portal, a comprehensive hub designed to empower developers. It serves as a one-stop shop for developers to access and utilize Docupace's APIs and associated developer resources. It is set to facilitate innovation and collaboration within the financial technology industry. The Developer Portal provides an extensive array of resources, including detailed API documentation, tutorials, widgets, and practical examples. Developers can also perform tasks such as creating accounts, generating API keys, and testing their applications with Docupace's live APIs through this portal. Liz Pavlik, Executive of Product Management for Docupace, reportedly expressed excitement, stating, We are excited to launch our Developer Portal and make it easier for developers to build innovative solutions using our APIs. Our goal is to provide developers with the resources they need to be successful, and we believe the Developer Portal will play a key role in achieving that goal. [Source – Cision PR Newswire] Key features of the Docupace API Developer Portal: Comprehensive Documentation: In-depth insights into each API, including usage instructions, endpoints, parameters, authentication methods, and response formats. Tutorials and Examples: Resources to assist developers in getting started with Docupace's APIs Self-Service Account Management: Developers can create accounts, generate API keys, and manage subscriptions within the portal. Live API Testing: A platform for developers to test their applications against live APIs Interactive Code Samples: Real-world code samples in multiple programming languages to aid integration with the Docupace Platform. Robust Testing Environment: Controlled sandbox environment for efficient code validation and troubleshooting. Community Collaboration: A platform for developers to discuss, share knowledge, and collaborate on projects Matt Fields, Vice President of Research and Development at Docupace, affirmed the company's commitment to ongoing development and encouraged developers to provide feedback and suggestions through the portal's AI chatbot. About Docupace Docupace, headquartered in Los Angeles, California, is a leading digital operations technology provider specializing in streamlining and digitizing processes for wealth management firms. Its secure, cloud-based Docupace Platform offers solutions for client onboarding, document management, advisor transitions, cybersecurity, and regulatory compliance. With a focus on efficiency and compliance, Docupace serves a diverse range of financial firms, including some of the industry's largest players. Its expertise lies in web-based solutions, imaging, workflow management, and SaaS offerings, making them a valuable partner for financial services organizations seeking operational enhancements.

Read More

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