TRANSFORMING INSIGHT INTO AUTOMATED ACTIONS AT SCALE

| June 11, 2018

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The Challenge: Driving Business Value at Scale. 71% of Industrial IoT Projects are stuck in "Pilot Purgatory" due to lack of resources or knowledge to scale. Manufacturers have been automating their processes and equipment for decades, yet more manufacturers operate below 45% efficiency than above 85%. IoT data analysis still largely relies on human intervention. Creating and acting on insights to drive business value currently lacks scale.

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NexLP

Founded by a team of data scientists, programmers, and eDiscovery experts, NexLP uses Artificial Intelligence and Machine Learning to derive actionable insight from unstructured and structured data. Powered by a proprietary cognitive computing engine, NexLP uses next generation text analytics to help corporations uncover answers in their data.

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Man Vs. Machine: Peaking into the Future of Artificial Intelligence

Article | March 15, 2021

Stephen Hawking, one of the finest minds to have ever lived, once famously said, “AI is likely to be either the best or the worst thing to happen to humanity.” This is of course true, with valid arguments both for and against the proliferation of AI. As a practitioner, I have witnessed the AI revolution at close quarters as it unfolded at breathtaking pace over the last two decades. My personal view is that there is no clear black and white in this debate. The pros and cons are very contextual – who is developing it, for what application, in what timeframe, towards what end? It always helps to understand both sides of the debate. So let’s try to take a closer look at what the naysayers say. The most common apprehensions can be clubbed into three main categories: A. Large-scale Unemployment: This is the most widely acknowledged of all the risks of AI. Technology and machines replacing humans for doing certain types of work isn’t new. We all know about entire professions dwindling, and even disappearing, due to technology. Industrial Revolution too had led to large scale job losses, although many believe that these were eventually compensated for by means of creating new avenues, lowering prices, increasing wages etc. However, a growing number of economists no longer subscribe to the belief that over a longer term, technology has positive ramifications on overall employment. In fact, multiple studies have predicted large scale job losses due to technological advancements. A 2016 UN report concluded that 75% of jobs in the developing world are expected to be replaced by machines! Unemployment, particularly at a large scale, is a very perilous thing, often resulting in widespread civil unrest. AI’s potential impact in this area therefore calls for very careful political, sociological and economic thinking, to counter it effectively. B. Singularity: The concept of Singularity is one of those things that one would have imagined seeing only in the pages of a futuristic Sci-Fi novel. However, in theory, today it is a real possibility. In a nutshell, Singularity refers to that point in human civilization when Artificial Intelligence reaches a tipping point beyond which it evolves into a superintelligence that surpasses human cognitive powers, thereby potentially posing a threat to human existence as we know it today. While the idea around this explosion of machine intelligence is a very pertinent and widely discussed topic, unlike the case of technology driven unemployment, the concept remains primarily theoretical. There is as yet no consensus amongst experts on whether this tipping point can ever really be reached in reality. C. Machine Consciousness: Unlike the previous two points, which can be regarded as risks associated with the evolution of AI, the aspect of machine consciousness perhaps is best described as an ethical conundrum. The idea deals with the possibility of implanting human-like consciousness into machines, taking them beyond the realm of ‘thinking’ to that of ‘feeling, emotions and beliefs’. It’s a complex topic and requires delving into an amalgamation of philosophy, cognitive science and neuroscience. ‘Consciousness’ itself can be interpreted in multiple ways, bringing together a plethora of attributes like self-awareness, cause-effect in mental states, memory, experiences etc. To bring machines to a state of human-like consciousness would entail replicating all the activities that happen at a neural level in a human brain – by no means a meagre task. If and when this were to be achieved, it would require a paradigm shift in the functioning of the world. Human society, as we know it, will need a major redefinition to incorporate machines with consciousness co-existing with humans. It sounds far-fetched today, but questions such as this need pondering right now, so as to be able to influence the direction in which we move when it comes to AI and machine consciousness, while things are still in the ‘design’ phase so to speak. While all of the above are pertinent questions, I believe they don’t necessarily outweigh the advantages of AI. Of course, there is a need to address them systematically, control the path of AI development and minimize adverse impact. In my opinion, the greatest and most imminent risk is actually a fourth item, not often taken into consideration, when discussing the pitfalls of AI. D. Oligarchy: Or to put it differently, the question of control. Due to the very nature of AI – it requires immense investments in technology and science – there are realistically only a handful of organizations (private or government) that can make the leap into taking AI into the mainstream, in a scalable manner, and across a vast array of applications. There is going to be very little room for small upstarts, however smart they might be, to compete at scale against these. Given the massive aspects of our lives that will likely be steered by AI enabled machines, those who control that ‘intelligence’ will hold immense power over the rest of us. That all familiar phrase ‘with great power, comes great responsibility’ will take a whole new meaning – the organizations and/or individuals that are at the forefront of the generally available AI applications would likely have more power than the most despotic autocrats in history. This is a true and real hazard, aspects of which are already becoming areas of concern in the form of discussions around things like privacy. In conclusion, AI, like all major transformative events in human history, is certain to have wide reaching ramifications. But with careful forethought these can be addressed. In the short to medium term, the advantages of AI in enhancing our lives, will likely outweigh these risks. Any major conception that touches human lives in a broad manner, if not handled properly, can pose immense danger. The best analogy I can think of is religion – when not channelled appropriately, it probably poses a greater threat than any technological advancement ever could.

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How Incorta Customers are Leveraging Real-Time Operational Intelligence to Quickly & Effectively Respond to 3 Likely Scenarios Caused by COVID-19

Article | March 30, 2020

Most businesses do not have contingency or business continuity plans that correlate to the world we see unfold before us—one in which we seem to wake up to an entirely new reality each day. Broad mandates to work at home are now a given. But how do we move beyond this and strategically prepare for—and respond to—business implications resulting from the coronavirus pandemic? Some of our customers are showing us how. These organizations have developed comprehensive, real-time operational intelligence views of their global teams—some in only 24-48 hours—that help them better protect their remote workforces, customers, and business at hand.

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Data Analytics: Five use cases in telecom industry

Article | May 27, 2021

The telecom industry has witnessed spectacular growth since its establishment in the 1830s. Enabling distant communications, collaborations, and transactions globally, telecommunication plays a significant role in making our lives more convenient and easier. With enhanced flexibility and advanced communication methods, the telecom industry gains more customers and creates new revenue streams. According to Grand View Research, the global telecom market size would expand at a compound annual growth rate (CAGR) of 5.4% between 2021-2028. With the rapidly growing digital connectivity, the communication service providers (CSPs) have to deal with large datasets. Datasets that can allow them better to understand their customers, competitors, industry trends and derive valuable insights for decision making.

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WHY IT’S TIME FOR BUSINESS LEADERS AND DATA SCIENTISTS TO COME TOGETHER

Article | March 21, 2020

In today’s digital revolution, the realm of data is growing at an unprecedented rate and will continue to rise as businesses will leverage more smart technologies or devices. However, maintaining and processing these myriad amounts of data require massive computing power and the knowledge to use it. Moreover, companies these days are utilizing data to make data-driven decisions and this pursuit of data-driven decision-making can make them to seek out data science.

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Spotlight

NexLP

Founded by a team of data scientists, programmers, and eDiscovery experts, NexLP uses Artificial Intelligence and Machine Learning to derive actionable insight from unstructured and structured data. Powered by a proprietary cognitive computing engine, NexLP uses next generation text analytics to help corporations uncover answers in their data.

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