Magazine article AI Magazine

Al in the News

Magazine article AI Magazine

Al in the News

Article excerpt

Artificial Intelligence: Past and Future. Hugh McKellar. KMWorld. April 2003 (www.kmworld.com). "Nearly 10 years ago, the Department of Commerce issued a technology assessment of the U.S. artificial intelligence (AI) market. ... The report estimated the 1993 global AI market - including technologies such as expert systems, neural networks, fuzzy logic, robotics, speech recognition, search, etc. -at about $900 million.... What a difference a decade makes.... In April, Business Communication Company (BCC) will release a thorough new study of the worldwide artificial intelligence market, which it predicts will reach more than $21 billion by 2007 with an average annual growth rate from 2002 to 2007 of 12.2%. In 2002 alone, BCC calculates the worldwide market was $11.9 billion...."

Fledgling Robot Industry Aims to Fly High. Kim Hyun-chul. The Korea Herald. September 29, 2003 (www.koreaherald.co. kr). "Will the day really come when 'intelligent' robots take over mundane household chores and give people more leisure time? ... There is no definition yet of the intelligent service robot. But according to the preliminary definition by the International Federation of Robotics, an industry group concerned with commercial robots, it is 'a robot which operates semi or fully autonomously to perform services useful to the well-being of humans and equipment, excluding manufacturing operations.' ... According to the International Federation of Robotics the global market for intelligent service robots is expected to grow to $2.2 billion in 2005 from $400 million this year. By 2010, the market is forecast to reach $24.3 billion worldwide, according to the organization. The Japan Machinery Federation predicts the market will expand to $20 billion in 2010, while Korea's Ministry of Commerce, Industry and Energy estimates it at $70 billion."

Money Laundering to Fuel $4.8bn Bank IT Bonanza. Andy McCue. silicon.com. October 2, 2003 (silicon.com). "Fraud and money laundering regulations and the Basel II accord will drive $4.8bn of investment in new technology by European banks by 2006, according to new research |from analyst Datamonitor]. ... Anti-money laundering guidelines from regulators such as the UK's Financial Services Authority will also push financial institutions to spend on automated artificial intelligence and analytics mechanisms to detect and prevent fraud, with investment in this area alone predicted to reach $420m by 2006."

Brokers Will Spend Big on Anti-Money Laundering. Jessica Pallay. Wall Street & Technology. May 1, 2003 (www.wallstreet andtech.com). "The brokerage industry will spend almost $700 million in the next three years on antimoney-laundering technologies, according to a recent report by Massachusetts-based consultants, TowerGroup. The 2001 USA Patriot Act requires financial institutions to establish anti-money laundering programs. ... Complex solutions include technology systems that offer artificial intelligence, [Robert Iati] says, using rules-based analysis, such as Manias or Searchspace. For example, if an investor suddenly changes investing behavior, and that investor uses a bank that has been known to transact terrorist funds, the technology would post an alert for the situation to be investigated."

Speech Industry Making Minor, Steady Gains. Matt Hicks. eWeek News. September 30, 2003 (www.eweek.com). "This year's SpeechTEK comes as analysts predict a rebound in the speech recognition market. …

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