Big Data Analytics Solutions | Financial Services in India |Decimal Point Analysis
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Finance

AI To Now Check Tax Returns

India has become one of the first countries in the world to employ AI technology on a bigger scale in public tax assessment. The system is going faceless. Thus, there will be no corrupt officers and everything will be on the record. For instance, if an individual has TDS deducted of Rs. 10 lakhs, but did not show equivalent income in Income Tax Returns filing, the system will start probing into finances. e-Verification will be carried out and the AI might send the case to an officer for further investigation. Read More

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Risk Management

AI To Help Detect Frauds in Financial Transactions

Mashang Consumer Finance Co Limited has launched a self-developed new AI system, aiming to leverage the technology to further enhance the industry’s anti-fraud capabilities and offer more intelligent financial services to its customers. The lip-reading identification system, which integrates a variety of AI technologies such as facial recognition, machine vision, speech recognition and natural language processing, can achieve a pass rate above 96% for online user identification. This intelligent risk control system runs through the whole business process, including pre-loan, in-loan and post-loan management and a real-time intelligent online identity verification platform for all its business scenarios. Read More

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Insurance

Now AI Photo Appraisal for Accident Recovery

Tractable, along with a few partners, has developed an AI algorithm for damage appraisal and collision repair in North America. The use of AI is expected to cut days out of the average cycle time and simplify the auto claim and repair process, helping consumers to get back on the road more quickly and safely. A visual AI assessment means many necessary decisions can now occur sooner i.e as soon as the driver submits photos of their car. With AI and these partnerships, every American consumer can now have an unbiased auto appraiser on their phone, in their pocket. Read More

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Healthcare

AI Can Design A Drug in Just 21 Days

Hong Kong-based Insilico Medicine announced that its deep learning system could identify potential treatments for fibrosis. The system, called generative tensorial reinforcement learning (GENTRL) was able to find six promising treatments in just 21 days, one of which showed promising results in an experiment involving mice. Insilico used GENTRL to design new drug candidates, which were then synthesized, and a leading candidate was successfully tested in mice. It took about 21 days for the AI system to design molecules, and the total time for design, synthesis and validation was about 46 days. Read More

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Healthcare

AI to Aid in Medical Decision Making

MIT computer scientists are hoping to accelerate the use of AI to improve medical decision-making, by automating a key step that’s usually done by hand — and that’s becoming more laborious as certain datasets grow ever-larger. The field of predictive analytics holds increasing promise for helping clinicians diagnose and treat patients. Machine-learning models can be trained to find patterns in patient data to aid in sepsis care, design safer chemotherapy regimens and predict a patient’s risk of having breast cancer or dying in the ICU, to name just a few examples. Read More

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Data Management

AI to Help Data Centres Run Far More Efficiently

A novel system developed by MIT researchers automatically “learns” how to schedule data-processing operations across thousands of servers — a task traditionally reserved for imprecise, human-designed algorithms. Doing so could help today’s power-hungry data centers run far more efficiently. Data centers can contain tens of thousands of servers, which constantly run data-processing tasks from developers and users. Cluster scheduling algorithms allocate the incoming tasks across the servers, in real-time, to efficiently utilize all available computing resources and get jobs done fast. Read More

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Wildlife Conservation

AI Researchers Create a Facial-recognition System for Chimps

Researchers from the UK’s University of Oxford and Japan’s Kyoto University have developed a facial recognition system that works with chimpanzees. The AI system showcased an impressive recognition accuracy level of 92.5%. It was able to correctly identify a chimp’s sex 96.2% of the time. In a competition against humans, the system was 84% accurate when asked to identify chimps in 100 random still images. This system has been developed to help researchers who are tracking chimpanzees in the wild. Read More

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