[AI]nnovation News: Jan 2021

The world of Artificial Intelligence is evolving at an exponential rate - it can be difficult to stay up to date with what's happening! As AI is ElementX’s primary focus, our team gathers monthly to share and collaborate over the latest and greatest (and weirdest) AI tools and use cases. Here’s a recap of what we’ve discovered in health, finance, fashion and beyond.

Dropbox slashes costs with machine learning

Dropbox has converted the predictive power of machine learning into a massive cost savings for the organisation. By optimising the Dropbox Previews feature, which allows users to view a file without downloading the content, they have created an annual $1.7 million infrastructure costs savings. 

“While not all our ML applications are directly visible to the user, they still drive business impact in other ways.”  

- Win Suen, Machine Learning Engineer, Dropbox

Finessing and financing the future of fashion

The days of fashion trends being solely dictated by haute couture houses and traditional fashion publications, like Vogue and Elle, have long gone with social media and online influencers paving the way in what’s en vogue. Startup Finesse have raised $4.5 million in funding to predict fashion trends with AI, in an effort to reduce the immense amount of waste produced by the fashion industry and streamline design and manufacturing decisions. 

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Deep learning for early eye disease detection

Diabetes Singapore has deployed an AI system to detect early signs of diabetic eye conditions. Known as Selena+, the deep learning technology has slashed processing time for eye scans detecting three types of eye disease from an hour to just a few minutes. This has empowered them to strive to conduct 11,000 screenings in the upcoming year, compared to 8,000 conducted last year.

FinRL = Automated Stonks?!

With the craze surrounding GameStop shares and r/WallStreetBets, we’ve discovered FinRL - a deep reinforcement learning library for quantitative finance. Imagine creating a tool that can automatically trade stocks for you...!

#Stonks #DiamondHands #ToTheMoon

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A new and UneeQ platform for personalised customer experiences

Digital humans are popping up all over the place - we've helped build a few ourselves!

UneeQ Creator has been launched, giving you the ability to design your own customised, AI-powered digital human into everyone’s hands regardless of coding ability.

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Facebook AI expands speech recognition research beyond English

Facebook AI is set to release Multilingual LibriSpeech (MLS). This is a large-scale data set that will help advance research in automatic speech recognition. Designed to help the speech research community’s work in languages beyond just English, MLS contains more than 50,000 hours of audio across eight languages: Dutch, English, French, German, Italian, Polish, Portuguese, and Spanish. With this open source library, more people around the world can benefit from improvements in a wide range of AI-powered services.

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