Securities and Exchange Board of India (SEBI) announces its plans to use artificial intelligence and machine learning solutions to boost its surveillance and investigative capabilities considerably.
The statutory body has decided to invest a massive chunk of money in upgrading its technologies for improving its operations. SEBI’s annual report mentioned that in the coming years, it would make major information technology changes and adopt new technologies to enhance its day-to-day operations like policy-making and regulating the market.
According to the report, various artificial intelligence machine learning rule-based algorithms will be used by SEBI and will be implemented for analyzing unstructured data on its data lake platform.
SEBI officials said, “SEBI will also perform external penetration testing of public domain websites of MIIs and select securities market intermediaries in order to proactively advise these entities on strengthening their cybersecurity.”
In recent years, the number of cyberattacks in the financial market has increased drastically that has given rise to more fraudulent activities. SEBI wants to put a check on these illegal actions by improving the cybersecurity of public domain websites.
The regulatory body mentioned that these new technologies would be used by various departments of SEBI to maintain a healthy financial market environment. SEBI will use artificial intelligence systems to train human intelligence algorithms that would refine its fraud detection system. The body has already established a separate department for the automation of mutual funds.
SEBI said, “The division aims to add new alerts and cover the entire gamut of quantitative aspects of inspections. Further, in-spirit violations would also be identified and added for surveillance.” The new technologies adopted by SEBI will have the capability of detecting complex manipulation techniques used by fraudsters.
Japanese multinational company Fujitsu announces that it will power the new Galileo XAI solution from LARUS. The companies plan to use Fujitsu’s Finplex artificial intelligence scoring platform to power Galileo XAI to provide finance solutions for businesses across the globe.
Fujitsu’s platform enables enterprises to generate accurate graph-structured data using deep tensor machine learning technology. The new platform is an artificial intelligence-powered data analytics and visualization tool capable of displaying explainability outputs generated by Finplex in a very user-friendly manner.
Galileo XAI is expected to be launched in August 2021 in the global market, while Fujitsu plans to offer similar services in Japan.
The combined technology will be able to provide graph-structured data at a rapid pace that other standard technologies can not generate. This would allow businesses to get accurate graphical insights and help them plan their financial strategies.
Senior Vice President of Financial and Retail Solutions at Fujitsu, Masaru Yagi, said, “To ease people’s concerns about AI and further Fujitsu’s goal to make AI trustworthy, we’ve added explainable graph AI `Deep Tensor’ technology to `Finplex EnsemBiz,’ which offers users the ability to understand and verify the reasoning behind the outputs of a system’s decision-making processes.”
He further mentioned that their explainable artificial intelligence platform is completely transparent, allowing customers to embrace innovations that deliver an edge in business.
Apart from the finance industry, the companies also plan to launch their solution for other sectors like education, pharma, and manufacturing in the future.
CEO of LARUS, Lorenzo Speranzoni, said, “We look forward to our continued partnership and the expansion of our offering to customers in the Japanese and global markets.”
NVIDIA announces that its Inception platform for artificial intelligence startups has crossed over 8500 members globally. NVIDIA’s platform accounts for more than half of the total startups in the world.
Inception has become one of the largest artificial intelligence startup ecosystems in the world, having members spread across 90 countries. The platform was first launched in 2016 and has grown exponentially since then.
Inception has also raised a total funding of $60 billion. NVIDIA says that the healthcare industry has the largest number of startups, followed by the entertainment and retail industries. The Inception platform also has members from the robotics and information technology industry.
The NVIDIA report points out that the United States accounts for around 27% of artificial intelligence startups globally and has raised more than $27 billion in funding rounds cumulatively.
The report also mentioned that California has the highest number of startups in the US, having 42% of the total startups, out of which 29% are based in San Francisco. Trailing behind the United States is China that accounts for 12% of Inception members, followed by India, having 6% of the total artificial intelligence startups.
Other countries like the United Kingdom, Germany, France, Netherlands, Japan, Russia, and South Korea account for less than half of the NVIDIA inception members. Among the IT startups, computer vision and predictive analytics companies top the chart. Medical imaging and artificial intelligence biological firms account for the largest segment in the healthcare industry.
Inception is a free accelerator program for artificial intelligence startups that helps companies grow faster and does not require them to pay equity to join. The platform witnessed an increase of 26% in new memberships in the year 2020.
Robotics has changed the facet of farming in recent years with its revolutionary capabilities. From strawberry picking robots to automatic weed plucking, robots have helped fill the labor shortage in the agriculture industry. As robots are becoming a key part of modern automated farming practices, scientists have found yet another application of robots in this domain — Pollination robots! As the name suggests, these droids will enable the pollination of plant flowers both in farms and in the wild.
All flowering plants need pollination for reproduction. In planets, the male flower parts, called stamens, generate pollen, which gets fertilized by female flower parts, called pistils, to form seeds. The stamen discharges pollen directly onto the pistil in self-pollinating flowers. However, in cross-pollination, pollen movement occurs from one plant to another, which depends on vectors like bees, butterflies, dragonflies, etc. When bees and other insects eat on flowers, pollen sticks to their bodies and is then deposited on the next plant they visit. Cross-pollination is an important part of planet reproduction as they help in enhancing genetic diversity. It also helps in improving the quantity and quality of crops.
Bees are responsible for around 80% of all pollination on the planet. Bees pollinate more than 70% of the top 100 crops, which provide roughly 90% of the world’s nourishment. Sadly, today their lives are in danger. Researchers have noticed that the population of bees is declining due to Colony Collapse Disorder, Varroa mites, use of neonicotinoid pesticides, and loss of habitat. One chemical compound found in pesticides, called Thiamethoxam, is said to prevent queen bumblebees from laying eggs. According to predictions based on a mathematical model, this could lead to the extinction of local wild bee populations. In 2016 alone, the United States reported a loss of 44% of all honeybee colonies. Moreover, seven species of yellow-faced bees in Hawaii are on the verge of extinction.
To solve the impending danger of acute food shortage due to the dwindling number of bees, scientists have turned to robotics to help address such woes and minimize dependency on bees. Thanks to advancements in the deep learning algorithm of artificial intelligence, robots can quickly and accurately identify flowers for pollination.
Arugga AI Farming, an Israel-based company, develops robots that can automatically go down a greenhouse row, leveraging artificial intelligence and cameras to recognize tomato flowers that are ready to be pollinated. The robot features an air nozzle system that sprays a calibrated pulse of air on the selected flowers, ‘shaking’ them to mimic bumblebee buzz pollination. Unlike some other crops, Tomato blossoms pollinate themselves when vibrations shake pollen loose, eliminating the need for cross-pollen transmission between flowers.
Apart from pollination, these pollination robots reduce the risk of disease transmission because the air blast pollinates the flowers without coming into contact with them. Other advantages this technology has over the bumblebee include its capacity to work efficiently under artificial lighting and in extreme hot or cold conditions, both of which are detrimental to the insects’ pollination performance.
This year, Arugga has raised US$4 million in pre-Series A funding. The round was led by Cresson Management, with Biobest Group, Terra Venture Partners, Equicelar, and Smart Agro, among the other investors, to take part.
In 2018, inspired by bees, a team of West Virginia University researchers built BrambleBee, an autonomous robot that can pollinate bramble, blackberry, and raspberry plants, in a greenhouse setting. This robot uses cutting-edge LIDAR mapping and localization techniques, along with additional visual perception, path planning, motion control, and manipulation tools. LIDAR operates similarly to radar, except instead of sending out radio waves, it produces pulses of infrared light (called invisible lasers) and detects how long it takes for them to return after colliding with adjacent objects.
BrambleBee, Image Credit: Gu et al
BrambleBee first obtains up-to-date information on flower cluster locations and pollination readiness by doing an ‘inspection pass’ of the greenhouse. During this, its onboard camera detects adjacent flower clusters. The identified clusters’ positions are subsequently documented on a map of the plant rows. Bramblebee then selects where it will pollinate flowers once this initial assessment step is over. This choice is made by balancing the number of accessible flower clusters that are ready for pollination while reducing the distance driven.
When BrambleBee deems that a flower is ripe for pollination, it will gently stroke the blossom with a tiny 3-D printed brush containing flexible polyurethane bristles on the end of its arm. In this way, pollens are transferred from the anthers to the pistils. BrambleBee robot uses precise motions to maneuver this mechanism, spreading pollen into pistils while avoiding damage to the flowers. The robot even remembers which flowers it has already struck, allowing it to proceed with other plants in the greenhouse.
The above-mentioned examples are not the only way of pollinating crop flowers. For example, pollination might be outsourced to automated drones that carry pollen grains to specific flowers, according to materials scientist Eijiro Miyako of the Japan Advanced Institute of Science and Technology in Nomi. While his initial plan entailed rubbing grains into flowers with a pollen-coated drone, he quickly discovered that the procedure was damaging the blossoms.
Last year, while playing bubbles with his son, Miyako realized a solution to perfect the drone problem. He concluded that his team could use pollen-laden soap bubbles sent from the drone and gently land on the blooms for a more gentle approach. The researchers used this approach to hand-pollinate pear trees in an orchard to evaluate the viability of their pollen-loaded bubbles. According to the researchers, the trees produced almost the same amount of fruit as plants pollinated by manual pollination.
Image Credit: iScience
A start-up from the United States called Dropcopter uses unique pollination delivery technologies and specialized drones with cutting-edge algorithms. This drone is already pollinating apples, almonds, cherries, and pears at a rate of 20 acres per hour per drone. The average pollination cost per acre across the board, according to the company, is around US$300.
Image Credit: Dropcopter
Bees are vital to ecosystems and agricultural pollination, which is why the IUCN (International Union for Conservation of Nature) is urging immediate investment in new research to find methods to reverse this decline. Pollination robots may not replace bees nor restore ecological balance but can certainly address the pollination crisis.
While pollination robots may seem like an avant-garde solution, it is still not economically feasible on a large scale or at least 4-5 years away from commercial release. Furthermore, even the existing models need more fine-tuning to be able to pollinate without harming flowers, enable more cross-pollination, etc. However, the silver lining is that these pollination robots offer something that bees don’t — data. The data gathered while attempting to pollinate plants can be utilized to boost agricultural practices.
New job openings from IT companies have touched a five-year high in India. Top IT firms of India have hired more than 1.21 lakh individuals in the first half of this year. Experts say this development has come after the surge in demand for software and cloud solutions amidst the COVID-19 pandemic.
The pandemic has forced industries to carry out their operations online that resulted in a massive demand for technological solutions to meet the requirements.
In these challenging times, IT giants like TCS and Wipro have witnessed double-digit growth, and they intend to grow further with increased human resources. Industry leaders suggest that IT firms will hire more than 2 lakh people in India by the end of this year.
Vice-chancellor for professional learning at Krea University, Ramkumar Ramamoorthy, said, “With large and mid-sized IT services companies bouncing back to double-digit revenue growth, as well as global captives feverishly expanding their base in India, we are seeing an unprecedented war for talent.”
He further mentioned that the pandemic had accelerated the digital transformation goal of businesses, creating an opening for new-age skills, which has resulted in this massive hiring.
India’s Textile Minister, Piyush Goyal, mentioned in a tweet that the Prime Minister’s Digital India mission has accelerated the country’s digital shift and is likely to stay like this. The market is currently seeking roles in data science, cybersecurity, artificial intelligence, and cloud architecture.
PM @NarendraModi ji vision of Digital India has accelerated our digital shift, & the momentum is here to stay.
Top 10 IT companies in India hire 1.21 lakh people in 6 months till Jun’21 despite COVID-19. This is highest in this period in last 5 years.
Tech giant Accenture mentioned that it would hire more than 34,000 new employees for data analytics, cloud computing, and network security roles. On average, the pay range of jobs in data science is around ₹1.2 lakh per month. The companies also plan to hire 1.1 lakh freshers in 2021 to tackle attrition.
A former IT employee said, “We are seeing multiple technologies such as AI, IoT, robotics, cloud, and 5G coming into the fore. The needs are high in the current context because of the heterogeneity of technologies.”
The United States-based healthcare startup CitrusTech launches its new open healthcare artificial intelligence model named Medictiv. It is the world’s first artificial intelligence model directory that provides cross industry collaboration.
With this new technology, CitrusTech wants to boost the adoption of artificial intelligence and machine learning solutions in the healthcare industry. The platform has more than 250 tested artificial intelligence and machine learning models that can be used by organizations in a plug-and-play manner.
The models have been carefully handpicked by CitrusTech after intensive research work. The company already has a client base of over 50 deemed healthcare organizations. Medictiv offers artificial intelligence models for various purposes like revenue cycle management in healthcare, medical imaging, denial management, chronic condition management, and clinical natural language processing.
President of CitrusTech, Bhaskar Sambasivan, said, “As the demand for viable and proven healthcare AI models grows, Medictiv will deliver significant value to analytics, data science and digital innovation teams that are focused on solving key business challenges – by providing a collaborative ecosystem and helping democratize AI in healthcare.”
He further added that artificial intelligence, machine learning, and predictive analysis would play a vital role in revolutionizing the healthcare sector. CitrusTech was founded in New Jersey by Jagdish Moorjani and Rizwan Koita in 2005. The company specializes in developing artificial intelligence-powered data management and predictive analytics software. It has a workforce of more than 4000 experienced professionals worldwide. CitrusTech is a unicorn company that has a revenue of more than $200 million.
Vice Senior President of data science at CitrusTech, Shridhar Turaga, said, “Healthcare organizations are struggling with ROI for their AI/ML initiatives, as they often underestimate the cost of data, development, and validation.”
He also mentioned that organizations could use pre-existing artificial intelligence models to boost research speed and improve the overall return on investment.
American healthcare company Abbott receives clearance from the Food and Drug Administration (FDA) for its artificial intelligence imaging technology. The company’s technology is capable of recognizing comprehensive blood flow in coronary arteries and blockages using its optical coherence tomography (OCT) solution.
The platform is powered by Abbott’s in-house developed software named Ultreon. This platform will significantly help doctors to make accurate decisions while diagnosing and treating patients suffering from several heart diseases.
Abbott had received the CE Mark approval in Europe earlier this year. With this new clearance, the firm is now set to widely deploy artificial intelligence tools in the healthcare industry to assist physicians at a larger scale.
Director of the DeMatteis Cardiovascular Institute at St. Francis Hospital and Heart Center in New York, Ziad Ali, said, “Abbott’s new Ultreon Software for OCT provides an automated, comprehensive view of the artery that facilitates physician decision-making. Ultreon Software guides stents to be placed with precision. These types of innovative technologies are instrumental in providing the best care for our patients.”
The company unveiled its artificial intelligence software at the EuroPCR 2021 event held in France. The software quickly received approval from the Japanese government after the event.
According to research conducted by Abbott, more than 83% of surveyed physicians believed that new technologies like optical coherence tomography could help improve the quality of treatment for cardiac patients.
Managing Director and Chief Medical Officer at Abbott’s vascular business said, “As cardiologists continue to adopt OCT and move away from traditional imaging methods such as angiography, emerging technologies are pivotal to determine the best course of patient care.”
He also mentioned that artificial intelligence enables the company’s software Ultreon to automatically detect calcium deposition and blood vessel diameter, which helps doctors use stents at precisely calculated locations.
Microchip manufacturing giant Intel launches its new AI for Workforce program in the United States. Intel launched this program under its Digital Readiness initiative to train future workers in artificial intelligence.
Eighteen community colleges across various regions of the country will host the AI for Workforce program. Intel has collaborated with Dell Technologies to design this unique program to teach the future workforce the necessary artificial intelligence and machine learning skills that the industry currently demands.
According to the company officials, more than 80,000 students would be able to benefit from this program. CEO of Intel, Pat Gelsinger, said, “The next-generation workforce will need skills and training in AI to develop solutions to the world’s greatest challenges, and community colleges play a huge role in unleashing innovative thinking.”
He further added that he started his career at a community college where he developed his interest in technology, and that led him to his dream job at Intel. The course would focus on some fundamentals of artificial intelligence and other related aspects like computer vision, data collection, artificial intelligence model training, ethical use of artificial intelligence, natural language processing, social impact, and coding.
It is a 200 hours long comprehensive course designed for students to increase their chances of employment. No prior knowledge of coding is required for participating in this course. The program was first started back in 2019 at Maricopa community college in Arizona and then steadily expanded to other regions like New Mexico, Michigan, and California.
Vice President and General Manager of Dell Technologies, Jillian Mansolf, said, “Higher education institutions are a catalyst for change by providing expertise and training in emerging fields. By collaborating with Intel, Dell is able to deliver AI learning experiences to these students, helping to prepare the future workforce for impact and success.”
The Headquarters building of the United States Department of Defence Pentagon announces that it has developed an artificial intelligence model that can predict world events days in advance.
The Pentagon conducted an advanced research named Global Information Dominance Experiment (GIDE) that used artificial intelligence and cloud computing to predict events in advance.
With this technology, the United States DoD wants to achieve ‘information dominance’ and ‘decision-making superiority.’ According to the officials, this technology could help the US military and the government plan and carry out its operations much more informedly.
The artificial intelligence system uses satellite images to predict an event by meticulously analyzing the recent activities of different nations.
Command Leader General, Glen VanHerck, said, “This gives us days of advanced warning and ability to react. Where, in the past, we may not have put eyes on with an analyst of a GEOINT satellite image, now we are doing that within minutes or near real-time. That’s the primary difference that I’m talking about.”
He further added that the technology gathers information through various sources and uploads it to a cloud server. Artificial intelligence and machine learning systems then analyze the data, the results are then quickly transmitted to the decision-makers allowing them to have decision superiority over the enemies.
Earlier military strategy analysts would take days to predict a new development, but with this technology, better predictions can be made in a very short time. VanHerck mentioned in a statement that the new technology would soon be available for the United States military to use at a larger scale.
Experts believe that in the near future, artificial intelligence technologies will play a crucial role in war strategies and decision-making due to the availability of vast amounts of data and data processing systems.
The National Science Foundation (NFS) announces its plans to conduct research on the use of artificial intelligence for understanding dynamic systems under the leadership of the University of Washington (UW).
Under the new initiative of NSF, eleven new National Artificial Intelligence Research Institutes will be built across forty states. NSF has already received funding of $220 million for this purpose.
Earlier this year, NSF had collaborated with Amazon Web Services for its Fairness in Artificial Intelligence Program.
The research program will focus on the fundamentals of artificial intelligence and machine learning and develop real-time learning applications for controlling complex dynamic systems.
An associate professor at the University of Washington, Steve Brunton, said, “We literally live and breathe inside of a working fluid, and so do nearly all of our machines. But because of the multiscale complexity of the fluid, which involves a cascade of increasingly smaller eddies, we still have an incredibly hard time predicting what fluids will do outside of idealized and controlled settings.”
He further added that they want to explore the possibility of training machine learning and artificial intelligence systems that would enable them to learn partially known or unknown physics concepts.
The collaborative research will develop data-enabled artificial intelligence solutions to tackle several challenges in the field of science and engineering. Apart from research, the collaboration would also train future researchers by providing them the necessary support and assistance.
They intend to tie up with high schools and offer artificial intelligence projects to educate students and would also actively recruit fresh college graduates from underrepresented regions of the United States to train them.
An applied mathematics professor at UW, Nathan Kutz, said, “Importantly, we will provide AI ethics training for all involved in the institute. We will also make this training available to the community at large, thus enforcing a disciplined approach to thinking about AI.”