Abhishek Singh, Author at Exhibit Tech

Mi Band 6 Overview: Enhanced Health Indicators

It’s MY band. A band that can keep me health conscious. The way health consciousness has captured the world is interesting. And, why won’t it be considering that one single virus and its constant and notorious mutation has clearly brought frustrations? Now, you just can’t open an e-Commerce store and order some heavy machines to use at home. Hence, you need something lightweight and easy to carry and track your health profile. For this purpose, the new Mi Band 6 can help you out. To know more about this new wristband, Exhibit is ready to take you on a Mi Band 6 overview.

Color Funk & Display

Jony Ive’s perception about colors in the movie JOBS and bringing them into the real world was correct. And, Mi Band 6 correctly follows this principle. This new band can offer you a wide range of color variants (a total of six). So, you can choose the choice that renders the funk quotient through olive, black, blue, orange, yellow, and ivory. All these colors comply with the latest styles. In addition to this, Mi Band 6 has a larger AMOLED display of 326 PPI (50% more than Mi Band 5). This display helps you to set a background theme. Pick a picture that you want to see every day whenever you wear this smart band.

SpO₂ Tracking

Economics tracks inflation in the form of demand and supply. The price of anything can go up if the demand increases or the supply goes down. And, humanity never thought that oxygen could become a part of economics. The way the second wave hit and brought the gigantic catastrophe, you would have understood the importance of oxygen. But, the new Mi Band 6 has taken care of this by providing appropriate biological sensors that can track SpO₂ is commendable.

Breathing When You Sleep

Breathing is important. Don’t you think? Ask Hrithik Roshan, who survived scuba diving in ZNMD. Well, Mi Band 6 has worked a lot on your breathing monitoring. Even when you are sleeping? What? Yeah, this new band can track your breathing during your sleep and evaluate your breathing score.

I Know When My Heart Rate is Pumping More

That’s just amazing, considering how the sensors and other equipment in this gadget can check out what you are doing. Before going to bed, you can check when the heartbeat rate was more compared to other times when it was low. For all these things, you can give credit to its activity intelligence feature.

MY Band is MY Trainer

Ohh Yes. If this is what you are looking for, Mi Band 6 is the perfect option. This new band has acquired the power of 30 fitness modes. If you think of Zumba, HIIT, pilates, etc., you get them here apart from normal exercises. Mi Band 6 can shrink the world of many trainers who are there out on YouTube and other platforms. In addition to this, the technology inducted in this gadget can automatically track your six fitness modes.

Stylish Design, Advanced Health Monitoring System, and Sophistication are the most crucial elements of Mi Band 6.

Water Resistance & Stroke Recognition

Al Pacino, you are no more El classico. Why? Mi Band 6. This new band has a 5 ATM waterproofing rating. What does it mean? It means if you are in Goa, Florida, or Gold Coast, buy this band and get ready for your swimming experience on beaches. Apart from this, it helps to track your swimming time as well due to stroke recognition.

Magnetic Charging

Mi Band 6 comes with magnetic charging. In addition to this, the battery that Mi has added to it is simply commendable. It is because it can have a battery life of 5 days after heavy use. That’s a whopping figure for sure. Get ready to give a standing ovation to this 125mAh Lithium polymer battery.

Launch Date & Price

If you are not a curious cat but a human, you must have started opening a new tab in your browser to check its release date. Well, hurry up. Set a reminder on your smartphone for tomorrow. Ohh! Great. 12 July is the date when this new band will hit the Indian market. But wait? Can price hit you badly? No, not at all. It’s just INR 4490/-.

Mi Band 6 Overview – Conclusion

That is something cool coming out. Well, such a rich set of features can enlarge the eyes of this band’s competitors. So, till the time, nothing new comes out, Mi Band 6 will have the monopoly due to features and traits.

Affordable Laptops for Students: Graduation Days

Not on my watch. A perfect line by Nestor Carbonell creates an impact to ensure that the story of Batman: The Dark Knight Rises starts on a high note. The same line can make many hinging points when you are beginning your graduation. If you need a laptop that can cater to your requirements and resolve your budgetary constraints, this article is perfect for you. Why? Because this Exhibit blog will provide a comprehensive list of affordable laptops for students. Let’s begin.

#1 Lenovo IdeaPad Duet Chromebook

A brand like Lenovo can make you LEANOver your thoughts due to the sophisticated specifications it brings through their wide range of laptops. This laptop can serve your needs properly by letting you use it during the lectures when your professor is taking the session. It is because this laptop has the capability to switch to tablet mode. Hence, you also get a stylus when you want to use it as your laptop. Apart from this, you get this laptop in two variants – ice blue and iron-grey. The RAM may bring hiccups to you as it is merely 4 GB, along with 128 GB internal memory, but care about the price too. You can order this laptop at INR 26999/-.

#2 ASUS VivoBook 14

They claim it as the world’s smallest colorful 14 inches UltraBook. You have never seen color variants for sure. Okay, if the color doesn’t matter to you, check out the processor – i5 Core. If it’s about play, track the graphics card – NVIDIA. You name it, and you will get it for sure. Even for memory ASUS VivoBook 14 can provide a dual storage system. What about ergonomics? Ahh, now you hit the bull’s eye. With this laptop, you get a better typing position due to the 2-degree keyboard tilt. But wait! considering such damn fantastic features can stop you due to its price. Order it at INR 30999/-!

#3 HP 245 G8

The Stones of Venice writer John Ruskin was right about quality. He rightly said that quality could never be an accident but a constant intelligent effort. And, with HP, you get that intelligent effort and quality as well. Why? Because the newly launched HP 245 G8 has everything that you need. A Ryzen 3 processor, 1 TB hard disk, AMD Radeon, 7 hours of standard battery life, etc., can definitely save your day when it comes to work or play. If the weight of an HP laptop is what concerns you, think again! This 1.7 kg chap is available at INR 31,490/- and is an essential contender in the list of affordable laptops for students.

#4 Acer Aspire 3 Athlon

Wimbledon 2021 has witnessed one of the finest games. The Serbian and global star Novak Djokovic showcased how to win a match in 46 seconds. 46 seconds? But how? ACES. And, Acer must be having the same ideology to deliver aces of laptops which is true for Acer Aspire 3 Athlon. This INR 25863/- laptop may feel deserted as it may not have those specifications. But that’s not the case at all. Why? The 1.9 kg laptop has an AMD Radeon graphics processor with an Athlon Dual Core processor. Security is the major top-notch slot in this slot due to the Firmware Trusted Platform Module. Think again if you feel that a hard disk drive won’t be big at such a price – 1 TB.

#5 HP Chromebook x360

Portable. Versatile. Compact and stylish design. This laptop has ChromeOS in it. The Intel Celeron processor provides a speed of 1.1 GHz. Even if you are not charging it, you can use it for at least 9 hours. This laptop allows you to go for multiple logins. If the screen size of 12 inches is worrying, consider the price again – INR 29,9990/-.

Affordable Laptops for Students

Get ready to combat your college days with the laptops that bring affordability, durability, and quality. One of these laptops will surely create wonders for you.

Android Smartphone Data Recovery Using DroidKit

Imagine you are using your smartphone. And, suddenly, there comes a technical snub due to which you lose all your contacts and data. What will be your first reaction? Well, there’s no way to blame Thomas Gabriel as that was a fictional character in Die Hard 4 (Live Free or Die Hard). So, before taking out your list of curses and slang languages, all you need is some resilient solutions or a way out through which you can restore and recover the lost data. A person claiming all these statements can get a tag of being insane from you, but hey, wait! It’s possible. If it’s Android Smartphone, you can stretch your legs and get back into your peace mode without taking any antidepressants pills. This Exhibit article is all about Android smartphone data recovery using iMobie’s DroidKit.

Don’t let the serotonin in your body go down. Just download the DroidKit application and regain your lost data.

How can iMobie DroidKit recover lost data?

DroidKit is the last resort or automated external defibrillator for Android smartphone users that can even bring dead phones to life. DroidKit is a software application that scans your device and virtually connects to your smartphone. When it comes to data recovery, DroidKit has a solution named the Quick Recovery technique. Next, it tries to assess what could be the important data that you want to retrieve. Through this, there’s an assurance that you can get back 13 types of data. These data can be in the form of WhatsApp chat, pictures, phone contacts, messages, and many others.

Step-by-Step Guide for Android Smartphone Data Recovery

Through your PC, launch a web browser.
On the address bar, click on the link – https://www.imobie.com/droidkit/.
Select the Free Download option to download the DroidKit setup.
Once downloaded, run the setup file for installation (ensure that an application icon gets created on the Desktop).
After the installation gets completed, double-click on the DroidKit icon to start the application.
Connect your Android smartphone using a USB cable.
After DroidKit finds your data, go to the menu section present on the left side of the application and select the option “Recover Lost Data” or “Extract Needed Data.”
Give permissions that DroidKit asks for and let it make a recovery for you.

Benefits

The best part about iMobie’s DroidKit Android tool is that it does it in an organized manner when it starts extracting lost data. Hence, you don’t need to go for any kind of arrangement or ordered formation as it eases the entire process. DroidKit can help you retrieve data from crashed phones and SD cards that got formatted due to any mistake. So, if you just met an accident with your smartphone completely in a tarnished stage, don’t panic. Apart from this, DroidKit lets you have a deep recovery mode. This methodology is based on NO-DATA-LOSS technology, where there is a high success probability to regain lost data. So, next time if you want to go for Android smartphone data recovery, all you need is DroidKit.

Flemish Scrollers Tracks Parliamentarians’ Smartphones Usage

Frank Underwood always used to have files on politicians on his Mac. But what if he gets to know that someone is tracking him. Well, one cannot change the storyline of “House of Cards,” but the way artificial intelligence is expanding its horizon, politicians do need to be scared. An AI model has come to the floor that can assess how anyone (especially politicians) is using their smartphones in the middle of the sessions. If you think you want privacy in the public domain, think again. Because AI can bamboozle your privacy for sure. So, next time be aware and vigilant in the meetings like the one who presides and convenes them can provide remarks for the same. This Exhibit article will satisfy the geek in you and let you know what artificial intelligence tool Flemish Scrollers is all about.

Artificial Intelligence Tool Flemish Scrollers

Italy may have broken many Belgian hearts in the Euro 2020, but Belgians never stop producing something that can be worth it. Flemish Scrollers is an artificial intelligence tool developed by a Belgian Developer, Dries Depoorter. This technique checks how much time a politician gets distracted by their small but most usable gadget – smartphone. The language used to make this methodology is Python. The tool, when it came live, has started to attract many eyes. The news about the same came out through Twitter, where it showcased a video of one of their parliamentarians, Bart Somers, thought to use in the middle of the session.

How does this tool work?

A nerd Python developer might have understood how things are going on. But if you don’t even know the ‘P’ of Python, here’s a chance for you to have a nag for technology and understand in the most layman manner. Basically, Senaat (Belgian Parliament) goes live on YouTube. Now, the Flemish Scrollers (a Python application) has inducted a YouTube API code. Through this code it tries to assess the live video feeds through small buffers. During this, this tool tries to track face recognition and hand movements. After training the tool for a long time, this AI model has learned what is in the hands of legislators. The amount of time of the video feed in which the legislators’ hands on their smartphones gets collected. Once evaluated, it can provide the time in percentage about the person who was using their smartphone.

The potential of Flemish Scrollers

In a nutshell, Depoorter’s new artificial intelligence tool, Flemish Scrollers, can become the new norm of working culture soon in the future. Gone were the days when people came out on the roads to ask for rights, among which one was privacy. Little Tommy has to understand that privacy will not be in their hands if this AI tool can enhance its scalability. Many businesses can induct this tool in their ERP and CRM applications to track their workers’ performance. Even during the meetings, this tool will help you to know who is showing that top-notch awareness. Hence, it will be too early to predict what Flemish Scrollers can achieve.

Artificial Intelligence Model to Evaluate Universe’s Shape

How to kill Thanos? Time GPS. Who created Time GPS? Tony Stark, with the assistance of Jarvis. Who’s Jarvis? An AI system built by Mr Stark. Imagine what it takes to defeat super planetary devils. Well, AI has the potential to showcase what it can do for you and the entire humanity. Now, AI has just done some more wonders by scrounging the shape of the Universe through different algorithms, computational and astronomical rules. Well, if you are a space tech nerd, you know that it is not easy for artificial intelligence to knock on the doors of heaven and learn from Albert Einstein his Theory of Relativity. This article will help you know how artificial intelligence helped evaluate this Universe’s shape and what it means to us.

What’s the news about this artificial intelligence technique?

The National Astronomical Observatory of Japan devised an AI model through which they calculated and verified the shape of the Universe. This model helped to segregate the shape noise (the one that occurs due to gravitational lensing distortion) that their Subaru Telescope has collected in the past few years. In addition to this, Japanese astronomers took the help of the ATERUI II supercomputer to generate and create catalogs of more than 25000 galaxies. These catalogs were produced after studying the data obtained from the Subaru Telescope. In the end, to evaluate the perfect shape, the scientists and astronomers added the realist shape noise to the data sets. Then, the AI model was trained on the mock data to deliver the visual information related to the Universe’s shape.

Why is this breakthrough essential?

Tackling out the shape of the Universe is not a cup of coffee. You need to accumulate a bulk of data to ensure that you have an ample amount of observations regarding the planetary objects, galaxies, etc. Now, if you think that it’s easy, stop and assess it again. There’s nothing like ideal. Any event in the space may create noise. Due to unscrupulous signals that reach your end that can hamper all the observational facts and figures. Hence, you need to think about realistic options. And, lastly, you need to add all these data into a model. This model can analyze everything before coming out with concrete conclusions. These models should process fastly as the bulky data may give rise to latency. Therefore, you will like to have hi-speed supercomputers that have the capability to hold voluminous data.

Inference

The AI model created the visuals of the foreground of dark matter and other massive objects distributions. The observations clearly helped to understand the Universe’s shape complies with cosmological rules and conventions. Thank God! Einstein calculations have not kept the entire astronomical fraternity in the dark. But, with these details, there are several positives attached to it, one of which is to understand the evolution of the Universe through this. However, it is also important to understand whether the Big Bang or the death of a star to transform into a black hole created any sort of disturbance in shape. Hence, there is more to go even after understanding the shape of the Universe.

OnePlus Nord: The Future of smartphones is here!

Just witnessed the much-hyped AR launch by Lewis Hilsenteger of Unbox therapy and Carl Lau – CEO of OnePlus and well the product is good but the hype around the launch was a little stretched. The AR presentation though went off smooth, but it was not rocket science or Elon Musk personally ejecting himself to the moon in his capsule. In a nutshell, it was a great work of video editors who have been working on developing games. Now let’s get to the real deal which is the price and it’s quite reasonably priced for the specs it comes packed with.

OnePlus when it started was priced below the 20K mark and let’s be honest they have been able to establish a premium positioning. It’s a brand everyone is comfortable to be seen with, unlike Vivo and Oppo where some might draw their eyebrows and throw in the Chinese comparison. In Spite of it being from the same family of BBK, OnePlus perception has always been disruptive and a community feeling. It uses Qualcomm Snapdragon 765G SoC and will be offered in Blue Marble and Gray Onyx colours. Other specifications of the phone include a 6.44-inch full-HD+ Fluid AMOLED screen with a 90Hz refresh rate which is what Carl harped on for a long time, and is very important for a seamless experience. With specs going up to 12GB of RAM, and 256GB of onboard storage with the RAM being used is – LPDDR4X, and the onboard storage is UFS 2.1.

Now the camera looks like they have taken a clean shot at loads of mid-rangers with its quad-camera setup that is headlined by a 48-MP main camera, along with an 8-megapixel wide-angle shooter, a 2-megapixel macro camera, and a 5-megapixel depth sensor. The front hole-punch cutouts include two selfie cameras – 32-megapixel main camera + 8-megapixel wide-angle camera. All of them look very promising, we are yet to test it though so will reserve the comments on this

Further, there is a 4,115mAh battery onboard that supports Warp Charge 30T fast charging technology, which enables the phone to charge from zero to 70 percent in 30 minutes flat. Of course, an in-display fingerprint sensor, 5G support, and NFC are part of standard features these days.

OnePlus Nord will run on Android 10-based OxygenOS 10.5 which has been making a lot of waves with its UI. Nord gets company at the launch with the OnePlus wireless earbuds which claim to have ten hours of battery life on a 10-minute charge. The runtime increases to 30 hours when recharged using the battery in the case. The case is also confirmed to support Warp Charge. It also includes a 13.4mm dynamic driver as well as 3D stereo support with Dolby Atmos and it weighs 4.6 grams each and the charging case weighs 36 grams and comes dressed in white, Nord Blue and Gray colours.

PRICING

OnePlus Nord will start at Rs. 24,999 in India for the base 6GB + 64GB model. The 8GB + 128GB and 12GB + 256GB models will retail at Rs. 27,999 and Rs. 29,999, respectively. The OnePlus Nord will go on sale via Amazon India and OnePlus.in starting August 4. But very smartly, the Nord buyers will only get to choose from 8GB RAM and 12GB RAM models and the entry-level will drop only in September. No word on the availability of the OnePlus Buds but it has been priced very aggressively at Rs. 4,990 to rock the boat.

Samsung Galaxy S20 – The Near Perfect Phone

With all the outrage against Chinese manufactured phones, the market is ready to welcome phones with other countries of origin. When the market was dominated by Chinese phones in low, mid and high range sections – it was increasingly difficult for other brands to compete.

Let see how the Korean brand has delivered its proposition to change Indian mentality of – Cheap and Best.

Albeit, not as impressive as its variant Galaxy S20 Ultra – this phone is powerful with ergonomic and attractive design. With the introduction of new features like 5G and 120Hz display this phone is something that looks promising.

Quick Facts with Pros & Cons and General Opinion

Pros

Fantastic display
Strong camera performance
Lots of power and 5G-ready

Cons

Price on the higher side and have good alternatives.
Does not support all 5G networks

Marketed as a 5G phone, it is cheaper than Galaxy S20 Ultra. With a sleek 6.2-inch screen and fast 120Hz refresh rate, 5G download speeds , high-spec 108 MP camera, and a big battery to boot, this phone has a novelty element in the features.

Chipset

This phone is equipped with a powerful new chipset, Qualcomm Snapdragon 865 or Exynos 990 (based on your country) as well as either 8GB or 12GB of RAM, depending on whether you buy the 4G or 5G phone. If you’re in the US you’ll get Qualcomm’s top-end Snapdragon 865 chipset, while the rest of the world gets Exynos 990. As for India, the Exynos 990-powered S20, is powerful enough to do everything whether that’s playing games or loading apps quickly.

When compared with S10, this newly launched handset has a multi core score of 2699 while the S10 5G from 2019, returned an average result of 2197, and the OnePlus 7T Pro, scored 2584. These scores won’t mean a lot for the average user, but it’s a positive result for the Galaxy S20.

The 5G variant comes with 12GB of RAM while the 4G version has 8GB of RAM. The Galaxy S20 is running Android 10, the latest and greatest version of Google’s operating system. Samsung’s indigenous One UI looks different to the software you may have used on other Android phones that aren’t made by Samsung, but the design is attractive and it’s easy to use.

Camera

Let’s talk about the camera. Perhaps one of the USPs of the phone is the camera. With an embedded triple camera on the rear the picture and video quality have been improved (including increased pixel sizes to improve night time photography by allowing more light in), and there are also a few software tweaks to improve the overall experience.

A major upgrade from the predecessor Galaxy S10, the telephoto lens allows you to shoot high quality 3x optical zoom or 30x digital zoom. The 12 MP main camera has an f/1.8 aperture.

However, there is an increase in the size of individual pixels here, from 1.4 microns to 1.8 microns. There’s also a new 64MP telephoto camera, which is a huge upgrade over last year’s 12MP telephoto camera.

Battery life

Being a 5G supported device, Samsung Galaxy S20’s battery consumption is humongous. Hence, Samsung has equipped the Galaxy S20 with a 4,000mAh power pack, a notable increase over the 3,400mAh capacity on the S10. Galaxy S20 has a solid battery life that will easily see you through a full day of typical use. However, when the phone was used with a high brightness and the 120Hz refresh rate turned on.

With fast charging from 0-100% in less than an hour, using the optimum display should not be looked down upon provided you are using a high end phone. While the 15W wireless charging is not as fast as the wired variety it’s always a useful option to have.

Final Words

With new improved battery life, chipset and camera this phone is a near perfect phone as suggested in the title. You can buy this phone if you want to be futureproofed in terms of connectivity. It’s not something that’s essential for most users right now, but it’s something you’re likely to appreciate as 5G networks become more ubiquitous.

Some of the Fascinating Predictions in Science Fiction That Came True

Do you believe everything that you read, hear or see? Is it even the right thing to do? Who would have imagined Issac Asimov’s description of robots will be a thing of future? In the video where Sophia interacts with CNBC’s Andrew Ross Sorkin at a Future Investment Institute panel in Saudi Arabia, it was a giant leap in the field of robotics.

It is rightly said, humans are as creative as they can imagine. Perhaps the only thing that distinguishes us from other animals. What you see today was imagined by someone years ago. For example, the flying machines, tanks are some of the things imagined by the great inventor Leonardo Da-Vinci. You can find so many references to the same in his writings and designs.

If you read about a cyborg from the future or armies made of robots guarding our borders that is a plausible concept. Today, the artificial intelligence (AI) revolution has taken innovation to the next level but it will be unfair to not credit the writers/thinkers who imagined them at the first place.

Let us see some of the characters from the past that came out as an innovation in the present era.

1.K9 from Doctor Who and IBM Deep Blue

The brainchild of writers Bob Baker and Dave Martin K9 is the name of the fictional robotic dog in the long-running British science fiction television series Doctor Who, first appearing in 1977.

The dog was smart enough to defeat his master in the game of chess. Back then it was something that no one had imagined that the same could be possible.

Fast forward to 1996, IBM’s supercomputer Deep Blue defeated champion Garry Kasparov and won its first game against world chess grandmaster. With Grandmaster Joel Benjamin as a part of the development team, Deep Blue was a part of the ChipTest project at Carnegie Mellon University. Its development began in 1985.

2.The Jetsons and Facebook Portal

Aired from September 23rd, 1962 to March 17th, 1963, Jetsons was way ahead of its time. With high-tech house gadgets, robotic household help and flying vehicles, it was all fictional back then. In an episode, there is the depiction of phone calls accompanied by an image in TV, something that we know as video calls today.

A similar device is available now that we know as Facebook Portal. It is a smart home device built for video calling and coupled with the voice control it is possible to check who’s at the front door, listen to music, watch the news and more.

3.Rosie the Robot Maid from the Jetsons & Tin Cat from Tom and Jerry and iRobot Roomba

One of the criticisms that we commonly hear about AI is that it will take away manual jobs. And the first time we saw this was in Tom and Jerry, where Tom was replaced by a mechanised tin cat. Also, we were fascinated to see something like a robotic household help (Rosie the Robot Maid) in Jetsons. But, back then no one imagined that this can be the future!

iRobot Roomba is a robotic vacuum cleaner that can clean the house with zero human interference. Similar to iRobot Roomba there is Moley Robotic kitchen that can prepare any dish from scratch and then clean afterwards.

4. Star Trek’s Universal Translator and Google Assistant interpreter

Imagine being a polyglot! How cool that would be? Where you interact in the local language where you are visiting. Keeping the same concept in mind, Star Trek’s creators thought of a universal translator. If you think this to be a novel fascination, you should know that the idea was first mentioned in Murray Leinster’s 1945 novella “First Contact”.

However, Star Trek’s Universal Translator is not yet completely available as it operated by scanning brain-wave frequencies and using the results to translate them into words. Captain Kirk used a handheld translator to communicate with the Companion (the cloudlike entity that kept famed scientist Zefram Cochrane alive) in 2267.

But a part of it has been manifested in reality and is known as Google Assistant interpreter. Google Assistant’s interpreter mode can translate conversations in 27 languages.

Conclusion

A lot has been going on in the technology space in the last few decades. What felt like fiction is only a matter of time to be manifested in reality. So next time you have ideas like teleporting yourself to different location don’t undermine your imagination, maybe someone somewhere is working hard to make that dream come true.

How AI is changing the BFSI Sector – An Analysis of Trends America’s Top Banks | AI for Banks and Fintech

In this article, Read about the growing dependence of tech talent to revolutionize AI for Banks and Fintech. While companies like Facebook, Google and Microsoft continue to be the forebearer of cutting-edge technologies, the rise and rise of artificial intelligence in the BFSI sector is showing how this has become everyone’s favourite child. This is true even for traditional businesses, that thrived decades without slightest of technological reforms.

Reasons are many. However, the most common one is that, that emergence of AI in the BFSI range from automation and potential to cut jobs to startup acquisitions. In this article read about how top banks and other financial institutions have analysed the applications of AI in their regular day to day operations.

C-suite executives are eager to leverage AI for automating risk management processes, such as fraud detection and regulatory compliance. Following are the part of the bigger picture.

What applications are used by big shots like JPMorgan Chase and Wells Fargo?
What is the scope of penetration of AI tools by customers and employees in these organizations
What is the common thread that binds innovation in AI in companies like these and what does that mean for the future of banking?
How much has been invested in AI and emerging tech innovation across leading US banks?

In this article, let’s delve deeper into the implementation of AI by the seven leading commercial banks in the U.S. as ranked by the Federal Reserve. Since a lot of businesses are dependent on a flawless financial infrastructure, we will also see how this paradigm shift will also impact business and commerce.

If you are to see the prioritization of AI applications by the seven leading US commercial banks to better serve their customers, improve performance and increase revenue, the trend has multiplied in the past few years. For the industry’s leading giants, the future of finance will be heavily influenced by emerging fintech and AI applications.

Read about Elon Musk and his relation with AI

Banks Will Have Trouble Acquiring AI Talent

According to a report, there is an interesting trend that fancied our attention. Only larger US banks seem to have the resources to build robust AI applications for addressing business problems. This may reflect the tremendous difficulty of obtaining and retaining machine learning and AI talent.

Tech giants (Amazon, Google, and Facebook) are more generous than their financial counterparts. With their reputation for innovation and higher profit-per-employee ratios, allowing them to shower top talent with higher salaries and excellent perks, it’s increasingly difficult for mid-sized banks to hire talent to drive innovation. It’s unlikely that even behemoths like JPMorgan Chase or Wells Fargo will be able to compete well against the tech giants in the AI talent war of the next decade.

Banking Chatbots Are Hype

Trends in AI like “Chatbots” and “conversational interfaces” inspire enthusiasm and excitement in the banking world. However, they make up roughly 13.5% of the product offerings in banking. It is way less than expected, given that they make up nearly 39% of the AI use-cases across the top 100 banks.

Customer-facing functions like Customer Service, Wealth Management, Marketing, and Sales made up only 25%. In contrast, risk-related Functions including Online Fraud and Cybersecurity, Compliance, Risk Management, and Financing and Loans made up 56%. Banks are understating their use of AI for other use-cases, most banks are investing in AI for compliance and risk monitoring more than any other business area.

Internal Document Search – Contract Intelligence (COiN) and Predictive Analytics – Emerging Opportunities Engine by JPMorgan Chase

JPMorgan Chase increased its technology budget to $11.4 billion in 2019. In 2017, JPMorgan Chase designed a chatbot (COiN) to analyze legal documents and extract important data points and clauses thereby automating the process and reducing human intervention that typically takes 360,000 hours for 12000 contracts.

We Misunderstand Elon Musk’s interpretation of AI. But why?

It won’t be an exaggeration to say that Elon Musk’s interpretation of AI is widely misunderstood.

You might want to call Elon Musk as someone who is a revolutionary inventor and one of the brightest minds in Silicon Valley, but when it comes to AI, he is pessimistic. However the same is not true for other technologies. In his speech at MIT in 2014, he called AI as ‘Humanities biggest existential threat’ and compared it with Frankenstein.

If you are someone who follows the tech entrepreneurs of the silicon valley, then you have definitely heard of the love-hate relationship of AI and Elon Musk. Before you completely brand him as anti-AI or Conservative, read below before forming a bias.

Being one of the early proponents of AI, Elon Musk is one of the first investors in DeepMind. He also set up the $1 billion OpenAI research lab. But what is it that makes him tweet things like, AI is more dangerous than nukes or WWIII, more dangerous than nukes.

Read why Microsoft is Replacing employees with AI

Being a critique of AI, Musk’s comments are not well received by AI researchers. According to them, Musk’s statement, “ AI will soon become just as smart as humans and said that when it does we should all be scared as humanity’s very existence is at stake.” is nothing short of ludicrous.

One of the AI researcher at a U.K university on the condition of anonymity said,

“I instinctively fall on dislike, because he makes up such nonsense, But then he delivers such extraordinary things. It always leaves me wondering, does he know what he’s doing? Is all the visionary stuff just a trick to get an innovative thing to market?”

After his investment in Deepmind and it being acquired by Google, he set up a new $1 billion AI research lab named OpenAI in Silicon Valley, which has a particular focus on AI safety.

He tweeted in September 2017 that, most likely AI could be the cause of Third World War as a response to Putin’s statement who said that the nation who leads in AI would be the ruler of the world.

And this might sound like something straight from a sci-fi movie, Musk’s eyes had fancied another deep-tech startup Neuralink. The start-up wants to merge people’s brains and AI with the help of a Bluetooth enabled processor that sits in the skull and talks to a person’s phone. In July 2019, the company said human trials would begin in 2020.

Now the question that might come to your mind, if he is so intimidated by the emerging technology, what makes him invest in AI?

The probable answer is, he wants to keep things closer which he thinks might pose risk to the existence of humankind. Maybe he is apprehensive of the fact that AI is turning humans into cyborgs and hence staying close to what he thinks is an ‘enemy’!