Source: Protech Insights

In the fast-paced world of technology, the fusion of artificial intelligence (AI) and cloud computing has given rise to a powerful paradigm known as “Serverless AI.” This innovative approach allows businesses to create smarter and more efficient applications without the complexities of traditional server management. In this blog, we will explore what Serverless AI is and how it’s transforming the landscape of application development. 

Understanding Serverless AI 

Serverless AI combines the benefits of serverless computing and artificial intelligence. It enables developers to build AI-powered applications without the need to provision, manage, or scale server infrastructure. Instead, cloud providers handle the underlying infrastructure, allowing developers to focus solely on writing code and developing AI models. 

Key characteristics of Serverless AI include

  1. No Server Management: Developers are relieved from the burden of server provisioning, maintenance, and scaling. The cloud provider manages the infrastructure automatically. 
  2. Event-Driven: Serverless AI functions are event-driven, triggered by specific events, such as HTTP requests or database changes. This pay-as-you-go model ensures cost-efficiency. 
  3. Scalability: Applications built with Serverless AI can scale automatically in response to increased workloads. Resources are allocated dynamically, ensuring optimal performance. 
  4. AI Integration: Developers can easily integrate AI services, such as natural language processing, image recognition, or machine learning, into their applications using pre-built APIs or custom AI models. 

Advantages of Serverless AI 

Here are some crucial advantages of serverless AI:

1. Cost-Efficiency 

Serverless AI follows a pay-as-you-go model, where you only pay for the computing resources used during the execution of your application. There are no upfront infrastructure costs, making it cost-efficient, especially for applications with varying workloads. 

2. Reduced Development Time 

Developers can focus solely on coding application logic and AI model development, as the cloud provider manages the underlying infrastructure. This accelerates the development process and reduces time-to-market for AI-powered applications. 

3. Automatic Scaling 

Serverless AI functions automatically scale in response to incoming requests or events. This ensures that your application maintains optimal performance, even during traffic spikes. 

4. Simplified Operations 

Serverless AI eliminates the need for server management, allowing development teams to allocate their resources to innovation and feature development rather than infrastructure maintenance. 

5. AI Integration 

Easily integrate AI capabilities into your applications using cloud provider services like AWS Lambda, Azure Functions, or Google Cloud Functions. This enables you to leverage AI for tasks like data analysis, image recognition, or chatbot development. 

Use Cases for Serverless AI 

Serverless AI is well-suited for various applications, including: 

  1. Chatbots and Virtual Assistants: Develop AI-powered chatbots that provide real-time customer support or virtual assistants that automate tasks. 
  2. Data Processing and Analysis: Use Serverless AI for data analysis, transforming raw data into valuable insights in real-time. 
  3. Image and Video Processing: Implement image recognition and video analysis for applications like content moderation, object detection, or video recommendations. 
  4. Natural Language Processing: Build applications that understand and process human language, such as sentiment analysis, language translation, or speech recognition. 
  5. IoT and Edge Computing: Apply Serverless AI to process data from IoT devices at the edge, enabling real-time decision-making and automation. 

Challenges and Considerations 

While Serverless AI offers many advantages, it’s essential to consider the following challenges: 

  1. Cold Start Latency: Serverless functions may experience initial latency (cold start) when triggered for the first time. 
  2. Vendor Lock-In: Using a specific cloud provider’s Serverless AI services may result in vendor lock-in, limiting portability to other platforms. 
  3. Limited Execution Time: Serverless functions often have a maximum execution time, which may be insufficient for certain compute-intensive AI tasks. 
  4. State Management: Serverless functions are stateless by design, requiring external storage or databases for maintaining application state. 

Embracing Serverless AI 

Serverless AI is reshaping the way applications are developed and powered by AI. It offers a cost-effective, scalable, and developer-friendly approach to integrating AI capabilities into your applications. By leveraging the advantages of Serverless AI, businesses can create smarter, more efficient, and innovative applications that enhance user experiences and drive digital transformation in various industries. As AI and cloud technologies continue to evolve, Serverless AI is positioned to play a pivotal role in the future of application development. 

Source: Protech Insights

Artificial Intelligence is no longer a futuristic concept; it’s rapidly becoming an integral part of our everyday lives, including the way we work. As AI technology continues to advance, its impact on jobs and industries is profound, reshaping traditional roles, processes, and business models. In this blog, we’ll delve into how AI is revolutionizing the future of work, the opportunities it presents, and the challenges it poses. 

Automation of Routine Tasks 

One of the most significant impacts of AI on the future of work is the automation of routine, repetitive tasks. AI-powered systems and algorithms can perform tasks such as data entry, data analysis, and customer service more efficiently and accurately than humans. This automation frees up employees to focus on more strategic, value-added tasks, leading to increased productivity and innovation. 

However, the automation of routine tasks also raises concerns about job displacement and the need for upskilling and reskilling. While some jobs may be eliminated due to automation, new opportunities will emerge in areas such as AI development, data science, and digital marketing, requiring workers to adapt and acquire new skills. 

Augmentation of Human Capabilities 

AI has the potential to augment human capabilities, enabling workers to perform tasks more effectively and efficiently. For example, AI-powered tools can assist healthcare professionals in diagnosing diseases, analyzing medical images, and developing personalized treatment plans. In industries such as finance, AI algorithms can enhance decision-making by analyzing vast amounts of data to identify patterns and trends. 

By leveraging AI to augment human capabilities, organizations can improve decision-making, increase accuracy, and deliver better outcomes for customers and stakeholders. However, this augmentation also requires careful consideration of ethical and privacy implications, as well as the potential for bias in AI algorithms. 

Transformation of Industries 

AI is driving significant transformation across industries, from manufacturing and retail to healthcare and finance. In manufacturing, AI-powered robots and automation systems are revolutionizing production processes, leading to greater efficiency and cost savings. In retail, AI-driven personalization and recommendation engines are enhancing the customer shopping experience and driving sales. 

Similarly, in healthcare, AI is transforming how diseases are diagnosed, treatments are administered, and patient care is delivered. From predictive analytics to virtual assistants, AI-powered solutions are helping healthcare organizations improve patient outcomes, reduce costs, and enhance operational efficiency. 

New Opportunities for Innovation 

AI is opening up new opportunities for innovation and entrepreneurship, enabling startups and established companies alike to develop groundbreaking products and services. From AI-driven chatbots and virtual assistants to autonomous vehicles and smart cities, the possibilities are endless. 

Innovation in AI also presents opportunities for job creation and economic growth. As demand for AI technologies and solutions grows, so too will the need for skilled professionals in AI development, data science, and related fields. By fostering an ecosystem of innovation and entrepreneurship, countries and organizations can harness the full potential of AI to drive prosperity and competitiveness. 

Challenges and Considerations 

While the future of work with AI holds great promise, it also presents significant challenges and considerations. These include concerns about job displacement, the ethical use of AI, data privacy and security, and the need for regulatory frameworks to govern AI development and deployment. 

Addressing these challenges requires collaboration between governments, businesses, academia, and civil society to ensure that AI is developed and used responsibly and ethically. It also requires a commitment to lifelong learning and upskilling to prepare workers for the jobs of the future. 

Conclusion 

In conclusion, AI is poised to have a profound impact on the future of work, transforming industries, creating new opportunities, and driving innovation. While AI presents challenges, it also offers immense potential to improve productivity, efficiency, and quality of life. By embracing AI responsibly and proactively addressing its challenges, we can shape a future where humans and machines work together to achieve greater prosperity and well-being for all. 

IT Sustainability has gained significant traction lately due not only to environmental concerns, but also as a way to boost operational resilience and financial performance. This has also been driven by The Corporate Sustainability Reporting Directive (CSRD) which came into effect on January 5th, 2023.  The directive will require almost 50,000 EU companies to report their environmental impact starting in the 2024 financial year.  They must also ensure all their suppliers comply within certain parameters of real data, reporting and due diligence to develop a sustainable supply chain.    

It is imperative for companies to invest in sustainable IT to comply with regulations, cut costs and reduce environmental damage. And according to a recent study where 78% of customers say environmental practices influence their decision to buy from a company, investing in sustainability also makes excellent business sense. That’s why sustainability has been identified as a top-three driver of innovation and a primary consideration in IT procurement. In fact, a recent study of 3,250 IT decision-makers showed that 79% indicated at least half of future IT investments would be directed towards achieving their sustainability initiatives.   

There are four key areas that enterprises can invest in to reach their sustainable IT goals; artificial intelligence, green computing, automation, and supply chain. This blog will detail how your business can also benefit from adapting more sustainable technologies. 

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At the beginning of the year, Google sent out a message to users about changes to its policy in relation to a forthcoming “sensitive event;” the World Health Organisation (WHO) sent out warnings of a new Disease “X”, and the academics, billionaires, politicians, and corporate elites of the world gathered at the World Economic Forum (WEF) in Davos, Switzerland to under girder such warnings and throw in a few predictions of their own. 

It must be an election year! 

“Rebuilding Trust” was the theme of the annual WEF gathering which covered areas such as security, economic growth, Artificial Intelligence (AI), and long-term strategies for climate, nature, and energy. Knowledge Exchange previously reported, the explosion of Artificial Intelligence (AI) upon society presents both potential benefits and threats, including increased mis-information and disinformation that looks set to increase this year. 

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A common misconception about artificial intelligence is that it is expensive, complex, or requires technical l expertise to put into practice. In reality, SMEs can integrate low risk, affordable, easy-to-customise AI tools and platforms that gives them the opportunity to level the playing field with larger enterprises.  

While there are a vast number of AI tools that can help SMEs maximize their efficiency and productivity, here are three areas of your business where you can integrate AI and see benefits to your business right away. 

Customer Experience (CX): 

Employing AI chatbots and customer service automation allows SMEs to enhance their CX by delivering more efficient and satisfying customer service, which in turn generates customer loyalty and drives business growth. AI also allows SMEs to scale their customer engagement and free up resources needed for more critical customer interactions with tools such as: 

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Source: Protech Insights

In recent years, the financial industry has been undergoing a digital revolution, with emerging technologies reshaping the way businesses operate and interact with their customers. One such technology that is making significant waves in the finance sector is ChatGPT, a language model powered by artificial intelligence. ChatGPT, developed by OpenAI, has demonstrated its transformative potential in various fields, and the finance industry is no exception. This article explores the role of ChatGPT in finance business and the benefits it brings to financial institutions and their customers. AI in finance can be extremely powerful when optimized correctly.

Role of ChatGPT in Finance Industry

Here are some essential points to know about the role of ChatGPT in finance business: 

Enhanced Customer Service

Customer service is paramount in the finance industry, and ChatGPT has emerged as a valuable tool for enhancing customer interactions. With its natural language processing capabilities, ChatGPT in finance can engage in conversations with customers, answer their queries, and provide personalized assistance. This technology enables financial institutions to offer round-the-clock support and improve customer satisfaction. Whether it’s addressing account inquiries, explaining financial products, or assisting with basic transactions, ChatGPT can handle a wide range of customer service tasks efficiently.

Improved Financial Advisory

Investment and financial advisory services often require complex analysis and expert guidance. ChatGPT can be trained to understand financial concepts, analyze market trends, and provide insightful recommendations to investors. It can assist customers in understanding investment options, portfolio diversification, risk assessment, and other financial planning aspects. By leveraging ChatGPT in finance, financial advisors can provide timely and accurate information, helping clients make informed decisions and achieve their financial goals.

Efficient Compliance and Risk Management

The finance industry is heavily regulated, and compliance with laws and regulations is of utmost importance. ChatGPT can play a vital role in ensuring compliance and managing risks. It can be trained to understand regulatory frameworks and provide guidance on compliance-related matters. By using natural language processing capabilities, ChatGPT can review and analyze vast volumes of financial data, identifying potential risks and anomalies. This helps financial institutions detect fraud, money laundering, and other illicit activities more efficiently, contributing to a safer and more secure financial ecosystem.

Automated Process Automation

Streamlining operations and reducing manual effort is a priority for finance businesses. ChatGPT can automate routine tasks, such as data entry, report generation, and document processing. This automation frees up valuable time for finance professionals to focus on more strategic activities. By integrating ChatGPT with existing systems and workflows, financial institutions can achieve greater operational efficiency and cost savings.

Enhanced Data Analysis

Data analysis is a crucial component of finance business decision-making. ChatGPT can assist in analyzing large volumes of financial data, identifying patterns, and generating insights. It can provide real-time information on market trends, customer preferences, and investment opportunities. By leveraging ChatGPT’s analytical capabilities, financial institutions can make data-driven decisions, mitigate risks, and capitalize on emerging market trends.

Challenges and Considerations

While ChatGPT offers numerous benefits, there are challenges and considerations to address. One of the primary concerns is ensuring data privacy and security. Financial institutions must implement robust security measures to protect customer information and prevent unauthorized access. Additionally, careful training and monitoring of ChatGPT are necessary to avoid biases and ensure accurate responses. Financial professionals should exercise caution when relying solely on ChatGPT recommendations and consider them as supplementary information rather than definitive advice.

Conclusion

ChatGPT is transforming the finance business by enhancing customer service, improving financial advisory, streamlining compliance and risk management, enabling process automation, and enhancing data analysis. Financial institutions that leverage this technology can gain a competitive edge, deliver better customer experiences, and make more informed decisions. However, it is crucial to address security and privacy concerns and exercise human oversight to ensure the responsible use of ChatGPT in the finance industry. As technology continues to advance, ChatGPT is poised to play an increasingly significant role in shaping the future of the finance business.

The EU’s landmark AI Act gained momentum last week as negotiators from the EU parliament, EU commission and national governments agreed rules about systems using artificial intelligence. The proposal will be passed in the new year by the European Parliament, but what does it mean for the AI technological revolution? 

The draft regulation aims to ensure that AI systems placed on the European market and used in the EU are safe and respect fundamental rights and EU values. This landmark proposal also aims to stimulate investment and innovation on AI in Europe. 

“This is a historical achievement, and a huge milestone towards the future! Today’s agreement effectively addresses a global challenge in a fast-evolving technological environment on a key area for the future of our societies and economies. And in this endeavour, we managed to keep an extremely delicate balance: boosting innovation and uptake of artificial intelligence across Europe whilst fully respecting the fundamental rights of our citizens.” – Carme Artigas, Spanish secretary of state for digitalisation and artificial intelligence. 

Key Points of the provisional agreement: 

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This month’s Knowledge Exchange will examine both the benefits and the potential dangers of unregulated Artificial Intelligence on Enterprise resourcing, business IT platforms, sales and marketing strategies and also on customer experience. It will also ask if it is possible to pause AI development to roll out ethical and regulated AI that protects and enhances jobs rather than potentially replace them; protects personal data, privacy, and preferences rather than manipulate it for nefarious reasons and that doesn’t spiral us into a “Terminator” or “Matrix” like future where the machines are in control!

The Good Side of AI

As we discussed in last month’s Knowledge Exchange on Hybrid Cloud, Artificial Intelligence (AI) has some compelling usages for ITDMs especially when it can help tame IT complexity by automating repetitive and time-consuming tasks. It can also be used to learn and write code from past data and be used to autogenerate content and images from multiple sources by mimicking human intelligence and human labour. As the technology develops, there seems to be a whole raft of plug-ins and algorithms that people such as Microsoft’s chief executive, Satya Nadella believes will: “Create a new era of computing.”

Copilot (sic) works alongside you, embedded in the apps millions of people use every day: Word, Excel, PowerPoint, Outlook, Teams, and more…it (sic) is a whole new way of working.

Microsoft 365 head I Jared Spataro


And as corporations and investors are constantly looking at growth, efficiencies and ultimately profit, the lure of AI to support this new paradigm must be insatiable proposition right now, especially as we are seeing a lot of economic pressure from various financial, energy and geopolitical crises.

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In today’s hyperconnected world, AI has revolutionized the way we work. But as more and more information and data flows seamlessly, cyberthreats are becoming ever-more sophisticated and traditional cybersecurity measures are no longer sufficient.

Cyberattacks are on the rise, and although on one hand, threats have become more sophisticated due to advancements in AI and Machine Learning (ML), AI has also become an indispensable tool in cybersecurity. This is due to its ability to analyse vast amounts of data, detect anomalies, and adapt to evolving threats in real-time.

AI revolutionising cybersecurity

Benefits of using AI in Cybersecurity:

Artificial Intelligence (AI), Machine Learning (ML), and Deep Learning (DL) have multiple applications in cybersecurity to make threat detection and prevention strategies more robust and effective. Some benefits of their use include:

Phishing detection and prevention

AI powered algorithms can detect email phishing by analysing vast amount of data to thwart phishing attacks. ML models can be trained to flag suspicious details of the mail such as the sender’s address, links and attachments and the language used in the message to determine if it is from a trustworthy source or not.

Password protection

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The power and threat of AI powered Large Language Models.

Disinformation is defined as “false information deliberately and often covertly spread (as by the planting of rumors) in order to influence public opinion or obscure the truth”.

While most commonly used in politics and public health discourse, disinformation campaigns can be used to target businesses of all sizes and can have damaging effects on reputation and revenue. And in an age where disinformation can be easily spread via the internet, it is feared that tools such as ChatGPT will make it easier to create and circulate false narratives on a larger scale than ever before. But what threat does AI engineered disinformation pose to businesses’ integrity, reputation and most importantly security?

Concerns over AI:

AI has revolutionized many aspects of human life, both in personal and professional aspects, and as of late, Large Language Models (LLMs) have been one of the main focal points of AI development. With the popularity of OpenAI’s ChatGPT, there has been an arms race between tech companies to develop and launch similar tools. OpenAI, Microsoft and Google are leading the way, but IBM, Amazon and other key players are close on their tails.

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