Predictive analytics and machine learning are extremely powerful tools used to predict future outcomes from large amounts of data. They help businesses gain insights, improve efficiency, and make informed decisions. With the big data space estimated to reach a value of $105 billion by 2027 (up from $37 billion in 2018), and 97% of organizations investing in big […]
How Biopharma Can Use Advanced AI and ML
The process of researching, developing, and ultimately commercializing a treatment for patients, regardless of the therapy area, is a long and costly one with slim chances for success. For example, the average R&D investment in developing a new drug treatment is $1.3 billion, the median development time is 5.9 to 7.2 years for non-oncology and 13.1 years for […]
AI and Machine Learning Trends to Watch in 2023
This article highlights 10 of the biggest trends triggered by technological advancements in artificial intelligence (AI) and machine learning (ML). These trends have collectively revolutionized the way businesses approach everything from education and economics to the environment. The broad AI and machine learning trends include the provisioning of cloud platforms for data activities – accelerating the use […]
How Federated Learning Is Helping to Overcome Obstacles in Machine Learning
Federated learning is a machine learning technique that allows multiple parties to train a model without sharing their data. It is being used across several industries, from mobile device keyboards to health care to autonomous vehicles to oil rigs. It is particularly useful in situations where data sharing is limited by regulation, or is sensitive or proprietary, […]
2023 Predictions for AI, Machine Learning, and NLP
It’s been an exciting year in AI, machine learning, and NLP, with text-to-image generators and large language models delivering some very impressive results and a lot of promise for the future – while noting all of the important caveats about their shortcomings including mitigating societal biases, the possibility of them being used to generate “fake […]
Health Care AI: A Failure of Ambition
Few fields are as aligned with technological development as medicine. It’s fair to say that medicine as a practice has been transformed by technology and now completely relies on it across all its facets, like drug development, medical diagnosis, and augmentation with prosthetic limbs. It’s been the source of new technology developments, such as MRI […]
2023 Predictions: The Rise of Data and AI
The increasing complexity of a digital-first world shows no sign of abating in 2023. And with looming economic uncertainty, organizations will turn to technology as they navigate concerns. We believe that data and AI will ultimately determine business success. Those organizations able to harness the vast volume of data and turn it into actionable insights […]
Data Quality Best Practices to Discover the Hidden Potential of Dirty Data in Health Care
Dirty data – data that is inaccurate, incomplete, or inconsistent – costs the U.S. $3.1 trillion per year, according to IBM. Along with the staggering cost, it prevents health care stakeholders from realizing the enormous potential value that they could be realizing from downstream analytics, including population health management, value-based care, and digital health. Health plans will […]
AI Trends for 2023: Sparking Creativity and Bringing Search to the Next Level
2022 was a big year for AI, and we’ve seen significant advancements in various areas – including natural language processing (NLP), machine learning (ML), and deep learning. Unsupervised and self-supervised learning are making ML more accessible by lowering the training data requirements. Large language models (LLMs) have shown impressive capabilities not just in natural language […]
How to Transform Customer Experience with Explainable AI
In today’s competitive landscape, customer experience can make or break a business, and companies need to know more about their customers than ever before. One way to do so is by using artificial intelligence (AI) and machine learning (ML). Companies collect all types of data from customer interactions, use that data to build AI/ML models, […]