Pros and Cons of Real-Time Transcription Software

Advancements in communication technology are rapid. Just a few years back, voice recognition technology was the hottest issue. Today, automatic transcription software is ”in.” Many transcription service providers are using AI-assisted program for their work, especially for niche business sectors such as academic, legal, and medical.

Additional to this is the real-time captioning for live lectures, presentations and conferences. The software is of great help for businesses to reduce costs and increase efficiency. While there are several benefits that real-time transcription software brings to companies and organizations, it is important to recognize the fact that there will also be a downside to the application.

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Amazon Transcribe can now automatically redact personally identifiable data

Amazon is adding a new privacy-focused feature to its business transcription service, one that automatically redacts personally identifiable information (PII), such as names, social security numbers, and credit card credentials.

Amazon Transcribe is part of Amazon’s AWS cloud unit and was launched in general availability in 2018. An automatic speech recognition (ASR) service, Transcribe enables enterprise customers to convert speech into text, which can help make audio content searchable from a database, for example. Contact centers can also use the tool to mine call data for insights and sentiment analysis. However, privacy issues have cast a spotlight on how technology companies store and manage consumers’ data.

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EU proposes rules for artificial intelligence to limit risks

The European Union unveiled proposals Wednesday to regulate artificial intelligence that call for strict rules and safeguards on risky applications of the rapidly developing technology.

The report is part of the bloc's wider digital strategy aimed at maintaining its position as the global pacesetter on technological standards. Big tech companies seeking to tap Europe's vast and lucrative market, including those from the U.S. and China, would have to play by any new rules that come into force.

The EU's executive Commission said it wants to develop a “framework for trustworthy artificial intelligence." European Commission President Ursula von der Leyen had ordered her top deputies to come up with a coordinated European approach to artificial intelligence and data strategy 100 days after she took office in December.


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AI platform helps developers spend less time on unit tests, bug fixes, documentation

Developers spend around half of their time on tasks other than coding, and French startup Ponicode is looking to change that with a little help from artificial intelligence. The company, which was founded in June 2019, has created a platform embedded with AI that learns from millions of lines of code. The Ponicode platform allows developers to write unit tests directly in the editor to help decrease the number of bugs at the production stage, according to Ponicode CEO and co-founder Patrick Joubert.

Coding has not changed in the past 30 years and while developers might have more libraries and tools at their disposal, "In the end, the quality of our code still only depends on our personal judgment and experience," Joubert said.

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Top 5 things to know about the state of artificial intelligence

Every year the Human-Centered Artificial Institute at Stanford puts together the Artificial Intelligence Index Report, relying on experts from around the discipline, including folks at Harvard, Google Open AI, and more, to try to pin down where we are with artificial intelligence (AI). You should definitely read all 290 pages, but for now here are five things to know about the state of AI.

1. People want to learn about AI: AI is now the most popular specialization among computer science graduates in North America at more than 21% of CS PhDs. That's twice as popular as number two--security.

2. Publish, publish, publish: From 1998 to 2018, there was a 300% rise in peer-reviewed papers on AI. China published more AI papers than any other nation. But, you can probably use ML to find the papers you need to cite.

3. The US cites, spends, and patents the most: In AI, US authors are cited 40% more than the global average, and we cash in on it. The US leads the world with $12 billion in private AI investment, almost double number two China's $6.8 billion. And the US files three times as many patents as number two Japan.

4. The investment is spread around: Autonomous cars lead the way with just less than 10% of global private investment at $7.7 billion. Medical research and facial recognition are at about $4.7 billion each. But the fastest growing field by dollars is robot process automation (RPA) at $1 billion, followed by supply chain management.

5. It's getting faster (and cheaper) to train algorithms: The time needed to train a machine vision algorithm on the dataset ImageNet took three hours in October 2017; in July 2019, it took just 88 seconds. And it got cheaper too, falling from a few thousand dollars to less than $100.

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How HR stands to benefit from artificial intelligence

Artificial intelligence (AI) promises to boost performance and efficiency across the business and, in the long run, yield a profound impact on an organization’s bottom line. Most business executives recognize the value AI brings, and are devising strategies to implement AI enterprise-wide. However, Human Resources (HR) is often overlooked, resulting in the department being a bit of a laggard when it comes to leveraging the new technology’s potential.

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