Artificial Intelligence for a Better Life

Artificial Intelligence for a Better Life

Cristina Petrescu

Executive Vice President, Public, Healthcare & Welfare at Tieto

Views 764

Artificial Intelligence for a Better Life

19.06.2017 10:30 am

Artificial Intelligence is taking great strides forward. Some people associate the concept with only industrial or technological contexts. Yet, it may produce its greatest benefits for the society, especially within the public, health and welfare sectors.

We have the data, but we don’t leverage it

Today we have huge amounts of data but we have a problem putting it to good use. Data is only as good as the intelligence we can glean from it. Artificial Intelligence analyses vast amounts of information in seconds, finding patterns and cross-references without breaks and in real time. When we can combine data from different sources and analyse it like this, our decision-making processes will improve and lead to much better and more intelligent decisions.

Artificial Intelligence (AI) particularly shines in its capability to learn over time. This enables it to predict outcomes of decisions. The more data is available, the more accurate these predictions become. Traditional history- and statistics-based predictions are much less accurate. This is why we are working on a number of test projects together with our customers, who are learning how to put the combination data and AI into good use for creating value for society.

Let’s take a look at how this can change our everyday lives.

Targeting the resources of a city more efficiently while improving the quality of life for an individual

We have just started an exciting experiment with one of our big city customers. In the experiment data from early childhood education, social and health care are combined. The aim of the data analysis is to find ways to provide services in a more proactive manner and to prevent, for example, exclusion.

One of the goals of the experiment is to combine the previously separated data files to create totally new type of customer and service paths.  AI will be used to identify those inhabitants that are in greatest need of social and health care.  In the future, it may be possible to target the resources of the city more efficiently while at the same time improving the quality of life for the individuals of the city. 

Valuable old age

The longer a person can live at home, the happier she typically is. Smart devices together with efficient analytics will provide better senior years. Sensors and a location bracelet send information on the person’s physical condition, location, movement and other factors necessary to track her wellbeing. Easy-to-use video conferencing devices give an opportunity for a face-to-face experience with care personnel, friends and advisors.

AI uses this data for predictive analysis, enabling timely intervention when needed. Any sudden change from the normal will trigger an automatic response from appropriate care personnel. This kind of human condition monitoring keeps people feeling more secure at home longer while reducing the need for costly and resource-stretching hospital treatment through more effective predictive care. 

Data-driven traffic

Communities around the world are trying to reduce air pollution and road congestion. In one of the recent experiments motorists installed affordable Android camera phones on their dashboards. Cameras sent real-time video from different parts of the city to cloud-based analysis. AI recognises what types of vehicles are moving in which direction at which location and at what speed.

This more accurate picture of the traffic situation in turn enables automatic adjustment of traffic control elements. Traffic planning can use the data gathered for better future predictions of traffic.

Healthier schools with better learning results

Sensors measure classroom temperature, lighting, noise levels and indoor air quality. AI can then find correlations between environmental factors and learning results. Humidity-related or heating problems are detected early on for cheaper, easier preventive repairs.

At a more personal level, analysis of pupil data from different sources can help individual learning, finds bottlenecks and helps teachers predict individual motivation and learning progress. 

Balance between individual wellbeing and societal cost

All the above points to one conclusion. AI can help us have a safe and happy childhood, boost learning, prevent social exclusion and alienation, stay healthier, enjoy good public services, live in a more pleasant place and spend our later years feeling happier, and more secure.

What is more, AI can help create better services and better experiences in many aspects of our lives while increasing productivity. The only way to make this equation work is to start using the combination of data and AI in public, healthcare and welfare services.

Big data, the Internet of Things and AI hold a lot of promise to create more value for our everyday lives and our society.

This article originally appeared on perspectives.tieto.com.

Latest blogs

n/a n/a

Tips on How to Successfully Trade CFDs

A CFD or contract for difference is a financial product that allows a trader to speculate on asset classed without owning a portion of the underlying asset. A CFD trade is not an investment but high-risk speculation that carries the risk of losing Read more »

Patrick McKinney and Joe Fuchs Wolters Kluwer Finance, Risk & Regulatory Reporting

Building an Integrated Data Management System: A Guide for Digital Banks

Digital banks and other FinTechs are emerging as more nimble competitors to established legacy banks. The digital banks that are on their way to becoming fully chartered have the opportunity to setup fully automated processes and systems without Read more »

n/a n/a

How COVID-19 Is Ushering In a New Era of Cashless Technology

  Image source: https://www.pexels.com/photo/person-shopping-online-3944405/   Cashless technology isn't a completely fresh concept. People have been using credit cards for decades, and the market for fintech services has been Read more »

Jean Shin tyntec

Using WhatsApp for 2FA is the Future of Banking

From user authentication and password resets to transaction verification, two-factor authentication (2FA) offers basic but useful protection for consumers. The 2FA process typically sends an SMS sent to the customer with a one-time password (OTP). Read more »

Amir Ghodrati App Annie

The Role of Fintech Apps in Navigating This Period of Financial Insecurity

Economic instability has been ricocheting throughout the stock market in the wake of the global coronavirus pandemic. Its effects have been felt across all industries, with winners and losers’ across different sectors. So, how has fintech Read more »

Related Blogs

Francesca Campanelli Axyon AI

How Fund Managers Can Use AI to Retain Current Investors and Rebuild Client Confidence

After months of market volatility and challenging conditions, fund managers are starting to see a light at the end of the Covid-19 tunnel. Countries are starting to relax their lockdown measures and restart economies, with stock markets reacting Read more »

Chak Kolli DXC Technology

How Can Insurers Realise the True Value of AI?

As Artificial Intelligence (AI) and digital transformation find their way into every aspect of our daily lives, we are gradually seeing changes taking place in different sectors. Progressively, AI is permeating the insurance value chain and it is Read more »

Huw Kwon Cognizant

Entity v process: The collective power of AI

Most, if not all, financial institutions are exploring how the range of new and emerging technologies collectively known as artificial intelligence (AI) can improve their performance across a range of activities and processes.  AI offers methods and Read more »

Michael Allen Dynatrace

How AI Can Prevent Online Banking Users from Being Cashless and Cut off

As their customers have become increasingly reliant on online and mobile services in the past few years, banks have undergone massive transformation. The ongoing quest to offer better experiences for today’s digital-first consumers has forced banks Read more »

Asavin Wattanajantra Sage

AI and Automation in the Workforce

AI and Automation in the Workforce Artificial Intelligence (AI) and automation have grown to become more efficient and practical in everyday use, and this smart technology is bringing innovation to industries as companies implement AI and automation Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel