How Artificial Intelligence and Machine Learning save the world

Thoughts on artificial intelligence appeared in the seventeenth century by Rene Descartes and Thomas Hobbes, but technically it was possible to create a device simulating the process of human perception only three hundred years later. Everyone knows IBM, Microsoft, Toshiba, Samsung, NEC, Fujitsu, Hitachi, Panasonic, Canon. They were the first to register AI patents. Innovative companies for financial industry, like SimCorp, continue to work on automation and the replacement of human labor by machine.

 Nowadays, when the whole world was quarantined at once, involving machines in workflows turned out to be the same need as driving a car or shopping.

AI & ML - What Is What?

Before getting to the heart of the matter, let’s take over the definitions. There are two main concepts.

 The first one refers to artificial intelligence (AI), sometimes called machine intelligence, meaning the ability of machines to demonstrate the imitation of human cognitive functions, such as reasoning, planning, learning, etc.

Another relative notion is machine learning, or ML, describing a class of artificial intelligence methods, aiming at training machines to find solutions to many similar problems without operating by a human. Speech and gesture recognition, fraud detection, credit scoring and financial supervision are examples of applying ML in life and business. Tesla tries to teach machines how to drive autonomously, stockbrokers teach an inanimate system to trade successfully on exchanges. Robots paint pictures and write poetry...

 AI entered our life and even became a part of it imperceptibly for ourselves. Scenes from science fiction movies no longer seem so fantastic as earlier, because in reality machines save our world during a pandemic.

ML for Coronavirus Disease Detecting

In current situation a true breakthrough is considered automated medical diagnostics system, capable to search for illnesses instead of doctors. The recognized peak of progress in this area belongs to a neural network detecting signs of pneumonia caused by COVID-19.

Since fast test systems are not yet widespread, specialists are looking for other ways to detect coronavirus. The Innopolis University, which is engaged in artificial intelligence exploration, have suggested using an AI system, which is able to diagnose COVID-19 based on many typical cases analysis.

 Ramil Kuleiev, head of the Innopolis University Center for Artificial Intelligence, explained that at the moment scientists are training the neural network to distinguish coronavirus pneumonia from common pneumonia. For this purpose, an open database on the Github website is used. It contains X-ray images of the lungs belonging to patients with proved COVID-19 diagnosis.

 On X-ray images the artificial intelligence system analyzes the following:

●      blur, which is noticed to be typical for frosted glass syndrome

●      blackouts, which point at inflammation in lungs and alveolar structure disorder

 It takes some time to train the neural network to diagnose coronavirus symptoms. Anyway, soon we’ll get a high-level diagnostics machine eliminating the need in doctors at least on the stage of diagnosis. 

ML for Business and Economic Prosperity

 Economic prosperity is a key to well-being of every individual. Small and medium industries are, in fact, the core of all national economies. How to do a successful business today is a big question! The new reality demands distancing and quick response. It is possible only in conditions of fully automated work processes.

 The great news is that businesses will be supported by innovations and cooperation between companies. For example, SimCorp and Alkymi’s created a joint-project, the main goal of which is to help managers meet the challenge armed. Companies have announced a partnership and will supply industries with ML-based tools for everyday management requirements.

About Heroes in Brief

SimCorp is a Danish software developer and leading implementer of front-to-back platform for faster and more informed decision-making business processes. Their experience is about 50 years. Their multifunctional product is SimCorp Dimension giving advanced solutions for investment management companies. Their clients are financial services industries worldwide. You can turn to their office directly throughout the Nordic region as well as in Austria, Belgium, France, Germany, Switzerland, Great Britain, Hong Kong, Australia, Ukraine, Singapore, Canada and the USA.

 Alkymi is an American provider of an ML-based platform, which explores the whole working system and automatically transforms arduous data processing into valuable insights.

What Institutional Investors Get

As a result of SimCorp and Alkymi cooperation institutional investors receive a range of benefits, as follow:

●      Remote control of AI-based workflows

●      Clear problem solving

●      Real-time access to data-pool

●      Faster progressing to goals

 As you can see, nowadays humanity tends to get ahead of time and come up with a solution for future problems in advance. We have already created technologies, which are urgently required in current circumstances. The next step is adaptation of the world’s economy, including each entity, to the new management model.

Detective Fiction Story by AI

We are distrustful of the new. Until recently, no one thought that the World Wide Web would be a significant player in human life, but now it’s obvious. We’ve got the same story with artificial intelligence.

 The Irish company IdenTV reported that AI solve a 58-year-old Alcatraz escape mystery! With the help of artificial intelligence it was possible to find out that the Anglins brothers who had escaped from the famous prison in 1962 did survive. The program analyzed a 1975 photograph and issued a verdict: with a probability of 99.7%, the prisoners of the Devil’s Island are considered missing.

A self-training visual face recognition program analyzed a huge number of images and pointed to a 1975 photograph taken in Brazil. Despite the fact that the picture shows two men in sunglasses and with curly hair, the program showed that with a probability of 99.7% it was John and Clarence Anglin.

 Power of artificial intelligence is exciting! So, it should be clear why recently EU Commission claimed that they will invest € 20 billion each year in the development of artificial intelligence until at least 2030.

 Tesler's Theorem says "AI is whatever hasn't been done yet." Indeed, AI is what the mankind has already successfully implemented and what is likely to save us from many crises. Good for us that we have got ready solutions for business and develop ones for health care system. This gives us a lot - the belief, which makes us move forward with confidence.

Best regards,

Sergii Oliinyk

?? SimCorp Dimension Business Analyst & Project Manager