AI Risk – Artificial Intelligence is the future of growth for every business and mankind. There is sure to be at least one article in the newspaper/internet/blogs daily on how big and revolutionary advancements made in the field of Artificial Intelligence. Ironically the magnitude of misunderstanding between learning and cognition is even bigger. It is not wrong to say many of us misnomers Artificial Intelligence. On high-level yes it’s true that machine learning and deep learning (subfields of AI) are disrupting the standards industries like Fintech, Banking, Medicine, Law etc for good and bad both.


AI as a disrupter

Digital banking teams of all modern banks either planning or in the process to transform their customer experience with AI-based chat-driven intelligent virtual assistant i.e. bots. As AI is promising benefits like cost reduction, automation and many more but it also putting urgent challenges if not threats. Historical evidence suggests in crystal clear manner that when anyone mixes intelligence and cognition, emotions cant be left out. State of mind intentions can overwhelmingly cut imagination and creativity and result in unwanted elements. 

These challenges cut across all industries and business. Information technologies, customer care, medicines, law or even in factory manufacturing work. The need of the hour is to upgrade the skill that prepares us to exploit AI rather than to compete with it or shy away. Accenture recently published research showing that AI has the potential to boost corporate profitability by an average of 38 per cent, and lead to an economic boost of $US14 trillion across 16 industries in 12 countries by 2035.

Business Technology

Amalgamating the latest technology of artificial intelligence like predictive analytics and cognitive messaging to serve millions of customers is now a new winning strategy. AI and regulation are paving the way for Fintech. Artificial intelligence is a new factor of production and has the conceivable potential to introduce new sources of growth, reinventing the business in place, changing how work is done and reinforcing the role of people to drive growth in business.

Historical evidence suggests in crystal clear manner that when anyone mixes intelligence and cognition, emotions cant be left out. State of mind intentions can overwhelmingly cut imagination and creativity and result in unwanted elements.  Ironically the magnitude of misunderstanding between learning and cognition is even bigger. It is not wrong to say many of us misnomers Artificial Intelligence. On high-level yes it’s true that machine learning and deep learning (subfields of AI) are disrupting the standards 

With technology advancing at breakneck speeds and demystifying robotics and artificial intelligence with new applications, machinery, and ultra-fast process in business, factories and homes in short from teleportation to autonomy.


Is Artificial Intelligence permanently Impenetrable?

Artificial Intelligence has become a very popular term today. Banks behind-the-scenes glimpse into the technology that’s designed to grow and develop with customers over time. The lexicographical work of banking & artificial intelligence-related buzzwords are rising every now and then. But it amazed me to think that if how many people still think that all their queries and questions, especially in 24X7 online chat support, are answered by human but fact is human did not respond to these people, its a bot working which does not need of any break or food or rest. It’s astonishing what we don’t know and what we learn by interacting.

Is Artificial Intelligence permanently Impenetrable? 60 years ago when the term ‘AI’ was coined. The whole idea and the ambition were to build smart and emotional machines that can learn, interact, work and put forward reasoning like humans. After several decades of trying, today the original vision is almost getting faint or got abandoned. Today’s machines largely work on a model to predict the future, as long as the future doesn’t look too different from the past. But the goal is to move towards artificial consciousness & machine consciousness where no computer program will be needed. What is the real risk here?

In today’s time i.e. talking era of artificial intelligence; it’s impossible to predict what is going to come next. AI and its subfields like machine learning, neural networks and deep learning are getting advanced every day. But its 100% up to us how these technologies will behave in future.

As said by someone; how technology or robot (end product) will behave depends upon who create or design them with what mindset. Thus Risk is for real if not artificial intelligence. A new study in the journal Intelligence reports that highly intelligent people have a significantly increased risk of suffering from a variety of psychological and physiological disorders.


For AI Everything is Data

In the industry usually, data mean “numbers and stats”. However, the text is also data. AI offers huge space to innovate, re-innovate, and create a creative mess for improving customer experiences. Applications of AI and its related techniques like machine learning and deep learning are improving day by day though.

Right vision and determined mindset will create the best intelligent customer interface that can thrust businesses on an accelerated maturity path to help the digital transformation of the organisation with purpose and customer-centricity. As on date AI has got some breakthrough at a base level and able to perform below activities.

  • FinTech: Predicting customer rating, defaulting in repayment etc. Credit scoring or direct lenders are using AI for credit scoring and lending applications.
  • Insurance: Predicting the rate of death or likely date of death for funeral insurance business.
  • Finance: This category rely on AI chatbots, mobile app assistant applications in order to monitor personal finances and predicting fraudulent activity on a credit card
  • E-commerce: Predicting customer churn
  • Healthcare: Predicting patient diagnostics
  • Social Network: Predicting certain match preferences on a dating website
  • Biology: Finding patterns in gene mutations that could represent cancer

Major reasons of this paradigm shift and increasing adoption of artificial intelligence chatbots (AI driven bots as the best example) for use as virtual agents or assistants are changing customer expectations, falling customer satisfaction, and the promise of lower operating costs. Banking, financial services, FinTech services and insurance services are major gainers of AI and clearly taking the lead here. All these players are using AI to monitor regulatory framework adherence, compliance, & Fraud Detection.


AI Developments Across The Globe

Artificial intelligence is the only technology, which is going directly from disappointment to deadly with being beneficial in between. Most cognitive architectures developed in the past are highly modular for example, distinct modules for short-term memory (STM), long-term memory (LTM), parsing, inference, planning, etc.

HDFC Bank India has an AI chatbot called “Eva”, built for it by India based AI research company, which has “successfully addressed over 2.7 million customer queries in the six months since its inception”. AI can detect fraudulent and abnormal financial behaviour, and/or improve general regulatory compliance matters and workflows.

AI uses a large volume of data stored and can be utilized for automation, intelligent actions, cloud robotics and machine learning. While this technology may sound revolutionary, it’s actually been around for years in industries like trading.

Robots can fail; as reason is very simple; which is machine learning models are not sufficiently accurate or can’t be accurate without lots of data and lots of training. Artificial Intelligence with cloud computing adds advancements using new use cases to improvise the systems developed so far. Robots or AI-enabled AI taking our job is still far not in the next 50 years or so. It has to pass basic 4 tests. Turning test i.e needs to acquire a college degree, needs to work as an employee for at least 20 years and perform well to get promotions and attain ASI status.

Nowadays almost all AI work relates to narrow, domain-specific, human-designed capabilities. Lemmatization of artificial intelligence has many names i.e. narrow, strong/general or super also its subsets i.e. machine learning, machine intelligence, machine consciousness, deep learning etc.


Robots and AI

Robots are well suited for work where human are at significant risk, the economics or menial nature of the application result in inefficient use of human workers, and for humanitarian uses where there is a great risk. The current AI cloud landscape is categorized into two groups-AI cloud services and cloud machine learning platforms, which provide future Market Insights, and almost accurate research services provide valuable intelligence necessary to gain an edge over the competition.

Can we really stop this storm of artificial intelligence answer is definitely no as innovations have no stop button? Can we regulate it; the answer is yes for sure it can be regulated. Regulation can define boundaries and limits the usage level of AI in each domain of today’s work. Word of caution regulatory framework should not be taken as a benefit or money producing a machine for some or a few people or to kill it.

Staying acquainted with the latest and emerging market trends renders companies the competitive advantage they need. HDFC Bank India has claimed that in Sept-2017 its chatbot OnChat able to register a 160% month-on-month growth in transactions. This encouraged us to build a complete ecosystem around Natural Language Understanding (NLU) so that our solutions can talk to clients in their native natural languages.

Please note: I am the big fan; follower and lover of everything about AI, which can bring only the best things as just good enough. AI will help and do betterment for humanity. This kind of revolution tells us where we are heading.  Analytics reveals in the collected data; how AI-driven apps are influencing consumer behaviour on smartphones. An expanding universe of bots – impacting our daily digital behaviours, like shopping, browsing the Internet, and consuming content?


Wait but Where is AI anyway?

If you’re waiting for A.I, look around you-you will find some form of artificial intelligence at work almost everywhere/ Though its pinnacle will take around 50 or more years; machine consciousness is indomitable will happen sooner or later. The other side of it for people involved here specifically, those with a high intellectual capacity (hyper brain) possess over-excitabilities in various domains that may predispose them to certain psychological disorders as well as physiological conditions involving elevated sensory and altered immune and inflammatory responses (hyper body).

History doesn’t lie anyways robots were used in the military and industry invested in robotics in order to build nuclear weapons and power plants, this is where things would go tribally wrong. High intelligence is touted as being predictive of positive outcomes including educational success and income level. However, little is known about the difficulties experienced among this population.


Points to Note:

All credits if any remains on the original contributor only. AI is a bundled technology here which is powering every single business. Artificial intelligence is a broad and active area of research, but it’s no longer the sole province of academics; increasingly, companies are incorporating AI into their products.


Books & Other Material Referred

  • Open Internet & Live conferences feedback and interactions.
  • AILabPage (group of self-taught engineers) members hands-on lab work.


Feedback & Further Question

Do you have any questions about Deep Learning or Machine Learning? Leave a comment or ask your question via email. Will try my best to answer it.



Conclusion – So it’s not a problem to make everything as Smart or Intelligence but it’s about the mindset, intentions, temperament and emotions one bring into smartness or intelligence. We should see in the next couple of years a vast improvement in current state-of-the-art machine learning via cyber-security, payment intelligence and info-security. Instead, a business will silently gravitate toward these subtasks that have an implicit performance impact. The classic example for this in AI is a critical tool to improve customer experience i.e. facial recognition technology, which is 10 to 15 times more accurate than human beings at identifying people. Innovation, which is fueled by advances in computing power and connectivity, the fields of robotics and artificial intelligence have grown rapidly.

#MachineLearning #DeepLearning #ArtificialIntelligence #ML #DL #ArtificialNeuralNetworks #ANN #Robots

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Posted by V Sharma

Technology specialist in Financial Technology(FinTech), Photography, Artificial Intelligence. Mobile Financial Services (Cross Border Remittances, Mobile Money, Mobile Banking, Mobile Payments), Data Science, IT Service Management, Machine Learning, Neural Networks and Deep Learning techniques. Mobile Data and Billing & Prepaid Charging Services (IN, OCS & CVBS) with over 15 years experience. Led start ups & new business units successfully at local and international levels with Hands-on Engineering & Business Strategy.


  1. Artificial Intelligence Team October 31, 2017 at 21:12

    Risk is for real that’s for sure I respect your views on who make technology decides future



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