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1
Anal yt i csi nF i nance
6
I mpactofI Ti nbank i ngs ect or
12 Anal yt i cs-Br oaderPer s pect i ve 16 Count er f ei t i ngofmedi cal pr oduct s 20 Ar t i ďŹ ci al I nt el l i gence-AnOppor t uni t y 27 Qui z i t i cs 29 News byt es
1
Themas s i v ebur geoni ngofdat aand t hei nv es t or s ’ k nowl edgeoft hemar k et newt ec hnol ogi c aladv anc espr ol ong and af f ec t st he t r adi ng dec i s i ons . t oal t ert hewayi ndus t r i esc ompet e. Ac c or di ng t oI BM,us er s ov ert he wor l d gener at es 2, 500, 000 t r i l l i on by t esofdat aev er yday .Thi sr api d
F i nanc i al or gani z at i ons ar e al s o i nc r eas i ngl yus i ngt heWebc hannelt o di s t r i but edat adi r ec t l yt os t ak ehol der s andi ndus t r ypar t i c i pant si nt hef or m of
gr owt h c r eat es numer ous pr es sr el eas es , per i odi c( ec onomi c ) oppor t uni t i es i n pr oc es s i ng and r epor t sand newsr epor t son v ar i ous anal y t i c s . F i nanc ei safiel d, whi c hhas el ement soft hec ompany . F orex ampl e, been deal i ng wi t ht he s t r uc t ur ed t her ear emor et han20, 000f ol l ower s dat a s i nc e t he s t ar t . The mos t and mor et han 600 t weet s on t he pr omi nent ex ampl ei s al gor i t hmi c t r adi ng, whi c hus esdat at omax i mi z e por t f ol i or et ur ns . Howev er , wi t hs uc h benefit s , t her ear ec hal l engesaswel l .
of fic i alI BM t wi t t er ac c ount .Boei ng Ai r pl anes has ov er 55, 000 Twi t t er f ol l ower sand ov er3, 000t weet s .The us e of News Anal y t i c si n t r adi ng
Ast hi sv ol ume ofdat ar equi r esa hi ghl yac c ur at e modelt o gener at e meani ngf uli ns i ght s .Wewi l ll ookat t wo as pec t s of financ e wher e anal y t i c sc anbemos tus ef ulandc an
i nv ol v est hr eepr i mar yf unc t i ons : ( i )t he ex t r ac t i on of news dat a, ( i i )t he r epr es ent at i on ofnewsdat a,and ( i i i ) t he aggr egat i on of t hi s dat ai nt o ac t i onabl ek nowl edge.
mak et hemax i mum r et ur n. We c an anal y z e any news s t or y by Oneoft hemos tc r i t i c alas pec t sof f ol l owi ng t hi sappr oac h:Ast o begi n t r adi ng i s mar k et s ent i ment .The wi t ht hes t epwemeas ur et hec ont ent news updat esc ont i nuous l yc hanges ofnewsi nt oa‘ c ont entfinger pr i nt ’ t hat
2
F i gur e1. Gener alf r amewor kf ornewsanal y t i c s
appear s ,f ordi v er s e newsc at egor i es , c at egor i es t hat s how t he degr ee t o whi c h eac hc l as si s r epr es ent ed wi t hi n t he ex ami ner r epor t .Ouri nv es t i gat i on ofnews i s bas ed on t he Common I nqui r er di c t i onar y . Onc e ev al uat ed, t he finger pr i nt sar emapped t ov al uesof t heMSCIEur ol i s tus i ngaf uz z ymodel . Thec hoi c ef ors uc h amodeli s ,t oa gr eatex t ent ,pr opel l edbyi t sc apac i t y t oc apt ur e nonl i near i t y ,a c apabi l i t y t hat we c annot pr ohi bi tf r om t he r el at i ons hi p we ex ami ne. We t hen c ont i nue t o ampl i f y i ng ourappr oac h byl ook i ngatf uz z yl i ngui s t i cus epar t s – mor ec ompl exc ons t r uc t st hatc apt ur e i mpor t antwor dsf r om s ubs t anc e
up
i n
c onj unc t i on wi t h ec onomi ct er ms– i ns t eadofex c l us i v el ywor dshav i nga pl ac e t o di s t i nc t i v e s ubs t anc e c at egor i es wi t h no r egar df ort he s et t i ng.Onc emor e,t hemappi ngof t hes ubs t anc efinger pr i nt st ov al ues oft hefil ei sdonebyempl oy i ng a f uz z y model .The ex ec ut i on ofour appr oac h i n f or es eei ng financ i al pat t er nsbas edondat af r om r el at ed c ont enti smeas ur edi nt er msoft he ex ac t nes s ofpr edi c t i ng upwar d or des c endi ng dev el opment s of t he s t udi edi ndex .
organon
3 er ms of ac c ompl i s hed per f or manc e F or t he aggr egat i on s c heme of t us t ed f or t he haz ar dt ak en.The mar k et s ugges t i ons ,t he out put adj
pepr opor t i oni sc omput edf oreac h aggr egat ed Shar hor t at i on s or t ,i . e. ,pur c has e,hol d, r ec ommendat i on i nt he f or m of ex el l . ei t herapr opos alt opur c has e,hol d ands Howev er , i naddi t i ont ohi ghl i ght i ng ors el l . c ompr i s es of an
F i gur e2Themar k etr ec ommendat i onsaggr egat i ons y s t em
Thi s aggr egat ed r ec ommendat i on t ak es i nt o ac c ount t he pas t ex ec ut i on oft he ex ami ner s bei ng c ons i der ed. I n c omput i ng t hi s per f or manc e, we adj us t t he ac c ompl i s hed r eas onabl er et ur n of pr edi c t or sbyt hes t andar ddev i at i on of t hos e r et ur ns . The r es ul t i ng degr ee, k nown as t he Shar pe pr opor t i on ( Shar pe,1966) ,gi v esa quant i ďŹ c at i on oft he ex ec ut i on i n
t he meas ur abl e added i mpor t anc e of us i ngnewsi nt r adi ngs t r at egi es ,t hes e ďŹ r s tt woc hapt er sal s or ec ogni z eaneed t o mor e s y s t emat i c al l y r epr es ent ( t empor ar y )i nf or mat i on, whi l eenabl i ng f or c ons i s t enc y c ont r ol s and r epr es ent at i oni nf er enc es . Sec ond ar eawher eanal y t i c swi l lhav e t he mos t i mpac t i s i n der i v i ng meani ngf uli ns i ght sf r om ďŹ nanc i alaudi t
4 I n Mar c h, Del oi t t e’ s audi t pr ac t i c e
c ommi t t ee member s( 48%)whos e
s ur v ey ed300ex ec ut i v esand100audi t c ompani esdonotc ont i nuous l yus e c ommi t t eemember s .Ac c or di ngt ot he
i nf or mat i on f r om t hei rr ev i ews do
s ur v ey , ov er79% ofmanager sand91% of audi tc ommi t t ee member ss ay
nothav e pr oc es s es i nputt of or m ut i l i z eoft hebi t sofk nowl edget hat
audi t soffinanc i als t at ement si dent i f y
c anbet ak enf r om as ur v ey .
pos s i bi l i t i es f or i mpr ov i ng c ompany ef fic i enc y . Near l yhal fofmanager sand ev enmor emember soft heaudi tpanel ( 62%)c l ai mt hati ft heaudi thad not t ak en pl ac e,i ti satl eas ts omewhat pr obabl et hatt heywoul dhav emi s s ed s i gni fic anti deas .
Wei s s enber gpr opos edt hataudi t or s , management ,and audi tboar dst o ens ur et hatt hec l i entget smax i mum v al uef r om t heaudi tc oul d us et he f ol l owi ngt ac t i c s :
Whet her i t ' s j our nal ent r y t es t i ng, anal y z i ngmul t i l eas ec ont entac r os sa bus i nes sorgat her i ngi nf or mat i onf r om v ar i ous agr eement s , dat a anal y t i c s gi v esaudi t or st hec apac i t yt oi dent i f y anomal i esand di s c ov eri nef fic i enc i es t hatmi ghthav ebeenc onc eal edi nt he pas t .
audi t c ommi t t ees , and audi t or s adv ant age f r om f r equent l y c ommuni c at i ngt oc r eat ebey ondany doubtt hec ompanyi sawar eofand t ak i ng adv ant age of t he bi t s of k nowl edge t hat audi t or s find.By t ak i ngaf t erupandc hec k i ngi nwi t h admi ni s t r at i on and t he r ev i ew
1.Communi c at i on: Admi ni s t r at i on,
c ommi t t ee, audi t or s c an mak e bey ond any doubt t hat t hei r ex per i enc eshav ebeenc aughton.
I nanyc as e,financ i als t at ementaudi t s of t enr epr es entami s s ed oppor t uni t y f orc ompani es .Mor et hanoneoutof eac ht hr eec ompani es( 35%)r ar el yor 2.Tr ai ni ng audi t or s f or new nev erempl oy ment st he dat a got t en pr oc es s es : Ac c or di ng t o f r om t hei r monet ar y ar t i c ul at i on Wei s s enber g,weneedt opr oc eedt o
r ev i ews t o pr ogr es st hei r bus i nes s , wor kon [ c r eat i ng]t heapt i t udesi n c onc ur r i ngt ot heDel oi t t es t udy . About ourgr oupss ot hatt heyc anc onv ey organon hal fofof fic i al s( 45%)andaudi t
5 c ompani es ar e embr ac i ng enor mous dat aanal y t i c si nar r anget opr es er v ea
c ompet i t i v e edge.Thr ough s t r uc t ur ed and uns t r uc t ur ed i nf or mat i on,
c onv ol ut ed c al c ul at i ons c an ex ec ut e ex c hanges empl oy i ng s ev er al
i nf or mat i ons our c es . Humanf eel i ngand pr edi s pos i t i on c an be mi ni mi z ed t hr ough mec hani z at i on;i n any c as e, ex c hangi ngwi t henor mousi nf or mat i on
i nv es t i gat i onhasi t sownpar t i c ul ars et
ofc hal l engesThef ac t ualc omesabout c r eat eds odi s t anthasnotbeenwhol l y gr as ped due t o t he ďŹ el d’ sr el at i v e oddi t y . Nev er t hel es s , as budget ar y
admi ni s t r at i ons dr i f t t owar ds v as t
i nf or mat i on and c omput er i z at i on,t he adv anc ementoff ac t ualpr oc edur eswi l l i nc r ementex ac t nes s .
6
I n t oday ’ st i mes ,i ts eems near l y i mpos s i bl et ot hi nk ofany t hi ng t hat hasnotbeenaf f ec t edbyt ec hnol ogyi n a bi g way .That bei ng s ai d,i ti s i nev i t abl et hatt ec hnol ogy pl ay ed a maj orr ol ei nt he wor l d offinanc e, par t i c ul ar l yt hebank i ngs ec t or .
Thi shashadat wowayef f ec t .F i r s t l y , t he c l i ent sar e bei ng s er v ed f as t er andi namor eef fic i entmannert han ev erbef or e.Ands ec ondl y ,t hebank s t af f ’ sr es pons i bi l i t i eshav ec hanged f orbet t er .Ther ei sl es ss c ope f or humaner r orandt her edundanc yi n wor khasgoneex ponent i al l ydownas Tec hnol ogyhasal r eadyc hanged t he t hel abourwor kget st ak enc ar eofby wayt hebus i nes s esoper at eandi ss t i l l t he c omput er s whi l et he human c ont i nui ngt odos oaswegot hr ough r es our c es c an be us ed f or mor e t hi s wr i t eup.F i nTec h has c hanged meani ngf ulwor k . f r om bei ng a buz z wor d t o a c ommonpl ac e.A c oupl e ofdec ades Ast he ar t i c l e pr ogr es s es ,we’ l ls ee ago, bankr el at edt as k smeantt i r es ome how t he t ec hnol ogy has had a paperwor kands t andi ngi nqueuesat pos i t i v easwel lasanegat i v ei mpac t y ourbank ’ sbr anc h. Ov ert i me, i thasal l ont hebank i ngs ec t or . Pos tt hat , we’ l l ev ol v edt odi gi t i z edbank i ngs y s t ems . organon
7 t wi c eaboutgoi ngi nf ors mal ll oans .By hav i ng adat abas eabouteac h oft he
c us t omer s and pos s es s i ng anal y t i c al c apabi l i t i es ,t hebank seas i l ydeďŹ net he
c r edi t l i mi t s f or t hei r c us t omer s i ndi v i dual l yandr educ et her i s kofNPAs .
8
organon
9
10 j obshav ebeenl os tt ot hemuc hf amed t r ai ned pr of es s i onal st o guar dt hei r Chat bot s .A maj ors t udybyF i nanc i al as s et s ,i ti ss t i l lnots af et o as s ume Ti mes r ev eal ed t hati n 2015 al one, t hat y our money i s c ompl et el y al mos t1, 00, 000bankj obswer el os tt o s af eguar dedwi t ht hebank . t ec hnol ogy ,whi l et heEx Bar c l ay sCEO Ant onyJ enk i nshaswar nedt hatwor l d
Ac c or di ng t o F i nanc i al Conduc t
wi l ll os e hal fofi t sbank i ng j obsby 2025.
Aut hor i t y ,t he bank si n UK s aw a ďŹ v ef ol di nc r eas ei nc y berat t ac k si n
2018, wi t h 145 br eac hes bei ng r epor t ed. Wi t hal lt hebuz zhappeni ngar ound i n bank i ng,i ti si nev i t abl et hatt he f ut ur e hol ds a l ot mor e. The Bl oc k c hai ni sr egar ded bymanyas t henex tbi gges ti nnov at i onaf t ert he i nt er neti t s el f . . Whati tbas i c al l ydoes
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11 tf r om Bl oc k c hai n, bank i ngs er v i c es does i s dec ent r al i z et he ďŹ nanc es Apar l ls t ar tget t i ng r ender ed onawi der f r om c ent r al aut hor i t i esands pr eadi t wi i c ess uc h aswear abl e ac r os s a wi des pr ead net wor k of numberofdev mar twat c hes .Mor eov er ,i n or dert o c omput er s . The name Bl oc k c hai n s
t r ac tt hebes toutoft het ec hnol ogy , c omesf r om t hef ac tt hatt hedat a, ex ompani eswoul dneedt opar t nerwi t h whi c hi sďŹ nanc i alt r ans ac t i onsi nour c c as e,bei ng pr oc es s ed t hr ough t he bl oc k c hai n net wor k get s br ok en downi nt os mal l bl oc k sofdat awhi c h getaddedt ot hec hai nofc omput er c ode whi l e get t i ng enc r y pt ed.Thi s r es ul t si nmuc hmor eaut onomyf or t he s enderand t he r ec ei v erwhi l e
eac h ot her .F ori ns t anc e,c r edi tc ar d pr ov i der sc anpar t nerwi t hmaj orbank s t o getac c es st oc us t omerdat a and pr ov i de t ai l or ed s er v i c es f or t hei r c l i ent s .
Al lt hi sandal otmor et hatwec annot ett hi nkof ,hasal r eadyhappenedand al s oac hi ev i ngex t r emel yhi ghl ev el s y ei spoi s edt ohappeni nt henear ofc y bers ec ur i t y .Weal lk now t he mor ut ur e. s ens at i on t hat t he Bi t c oi n had f c r eat ed and i nt er es t i ngl y ,i ti st he es ,t he i mpac t of i nf or mat i on Bl oc k c hai n t ec hnol ogy i t s el f on So y ec hnol ogyont hebank i ngs ec t orhas whi c h t he Bi t c oi n and ot her t beenphenomenal . c r y pt oc ur r enc i esr un.
12
I nov eradec ade, t heonl yc ons t antt hat one has obs er v ed i n t he v ar i ous phenomenaac r os st hewor l di s–Dat a. The t r end i sal s ov er yc l ear ,dat ai s i nc r eas i ngex ponent i al l y–Anupwar d s l opi nggr aphwhi c hi sbot hdr amat i c
bec omesadeadl yc ombo.Tomak e t hi s met hodol ogy ev en f as t erand s mar t er ,wei nt egr at et het eam wi t h anot herc onc eptc al l ed,“ Aut omat i c Bas el i ni ng” .And when t hes et hr ee f or c esc ombi ne,i ti seas yt os eet hat
and i ns pi r i ng.And i nt he l as thal fa dec ade, c r eat i ngs of t war et os c ant hes e l ar ge amount s of dat a i t s el f has bec ome a gr owi ng i ndus t r y . Upgr adat i onoft hes of t war eoni t sown i sa c ont i nuouspr oc es s ,ast he dat a k eepsgr owi ng l ar ger ,and anal y z i ng
t hes es of t war epr ogr amsmak ev er y f ewmi s t ak es , bec aus eoft hei rhi gher power t o det ec t anomal i es and r ec t i f yt hes eer r or sbef or ehand,t hus mak i ng t hem hi ghl y power f uland hi ghl yr el ev anti nt hes ef as t pac ed t i mes .
s uc h huge amount s of dat a wi t h mi ni mal er r or s needs a v er y s ophi s t i c at edal gor i t hm,whi c hi sbot h f as tandef fic i ent .
Thenex tl ogi c al s t ept os uc hak i ndof ev ol ut i on i s , unex pec t edl y and undeni abl y , Aut onomous Dat a Anal y t i c s , wher e t he dat a i t s el f omess os mar tands el f c ons c i ous The mos t pr omi s i ng t ec hnol ogi c al bec hati tl et sy ou k now i fs omet hi ng adv ant age t hat t hes e moder n t mpor t anthappensi nt hegi v endat a ul t r as ophi s t i c at eds of t war epr ogr ams i et .Thati s ,wi t houtanyquer yf r om ar e bas ed on,i ss t i l lr oot ed i nt he s he out s i de,t he dat a woul dl etus omni pot ent“ Mac hi ne L ear ni ng” .And t now anyanomal y ,anypat t er n,any when MLi st eamed up wi t hi t sfir s t k organon c ous i n,“ Ar t i fic i alI nt el l i genc e” ,t heni t
13 t her i nc r eas i ng t he number of out l i eri ts eesi ni t s el f ,muc hl i k ea ei us t omer s , orbyi nc r eas i ngt henumber humanbei ngwhoi ss el f awar e.Thi s c epeat pur c has es made by a nex ts t ep pr ov i des ,i n addi t i on t o of r us t omer ,orbyi nc r eas i ngt hedur at i on manyot herongr oundappl i c at i ons , c he c us t omeri nt er ac t i on wi t ht he r eal t i me al er t s and f or ec as t s oft fir m. Thi s di r ec t l y l eads t o pr ofit r el ev antdet ai l si nagi v enc ont ex t . max i mi z at i onoft hefir m,whi c hi st he tr el i abl equant i t at i v emet r i ct os ee Wi t habet t erc ol l ec t i onofdat a,wi t h mos hes us t ai nabi l i t yoft hefir m. So, mer el y abet t eranal y s i sofdat a,andwi t ha t i ngAIandMLi snott heway ,t he bet t er out c omec ent r i c pr oc es s i ng adopt m needst oens ur et hatt hi sadopt i on ofdat a,anyfir mc aneas i l yac hi ev e fir esr ealbus i nes ss ens ef ori t s el fand i t s 21s t c ent ur y mot i v e – An mak s al i gned wi t h t he or gani z at i on’ s ex hi l ar at i ng c us t omerex per i enc e.I f i ongt er mv i s i on. t he endc us t omeri ss at i s fied,t he l
fir m i s aut omat i c al l y mas s i v el y er ys ec t ori nt hec ur r entec onomy , be pr ofit abl e.And i nauni v er s ewher e Ev t r et ai l ec ommer c e, bank i ng, c ompet i t i on i s fier c e,i nt ens e and i r ans por t at i on,financ i als er v i c es and dy nami c , ev er y phas e of t he t ,ev ent hought heyc at ert oa c us t omer ’ sj our ney and i nt er ac t i on whatnot der angi ngv ar i et yofs egment swi t ha wi t ht he c ompany needs t o be wi moni t or ed. And t hi s moni t or i ng needst obes ubt l eandwel l c at er ed t o. The onl y goal of s uc h a moni t or i ng s houl d bet o pr ov i dea bet t erc us t omers er v i c eandk eept he endc ons umers at i s fied. L ear ni ngt oadoptAIandMLi snot t heend.I ti sameanst oac hi ev et he end – A hi gh Cus t omer L i f et i me Val ue. Thi sCL Vc anbe i nc r eas edby
di f f er ent i at ed t ar getc us t omer gr oup whohav et hei rownni c heneeds ,al lof t hem hav e one under l y i ng c ommon gr ound - Dat a.Wi t h dat a and i t s anal y s i s bei ng ubi qui t ous , i t i s under s t andabl et hatt hedat aanal y t i c al s of t war ear ebei ng us ed i n al mos tal l t hes ec t or sc ur r ent l y .Thi si nc r eas est he needf ort al ent eds ubj ec tmat t erex per t s i nt hi sfiel d who c anc ont r i but et o an ent i r eec onomyofanat i on, i ft heyk now
14 howt or eadandanal y z edat a.
fir msi nt henex tf ew y ear s .Tr y i ngt o
I mage r ec ogni t i on & pr oc es s i ng has
s y s t em c an do,and t hen t r y i ng t o
t ak enov ert hewor l d,andi ti sex c i t i ng t o s ee i t s pr ac t i c al appl i c at i ons ongr ound.The fiel d of Comput er Vi s i on,whi c h ev ol v ed i nt he l as t02 dec adeshasc ont r i but edt oav ar i et yof ongr oundpr oj ec t s . Ev enwhenwepay f orourc of f eef r om t hel oc alc ant een us i ng QR c odesv i av ar i ouspay ment wal l et s , we ar e us i ng s uc h s ophi s t i c at ed s of t war e and har dwar e i nt er ac t i on t hati ti si ns pi r i ng t os ee howmuc hwehumans ,asac i v i l i z at i on hav egr ownwi t hi nj us tadec ade.Thi s ev ol ut i oni sj us tgoi ngt os peedupand ex ponent i al l ygr ow,wher ewewi l ls ee mor es uc ht ec hnol ogi c alr ev ol ut i ons andc hal l engesi nt henearf ut ur e. Tos peakofwhi c h,t henex tc hal l enge t hatt hewor l di st r y i ng t os ol v ei na mor eef fic i entandpr ofit abl emanneri s t he, Rev er s e I mage Sear c h. Ev en t hought her ear emanys ear c hengi nes wor k i ng on i t ,i nc l udi ng Ti nEy e, Sauc eNAO,Googl eI mageset c . ,t hey ar es t i l latanas c ents t age;andl ot sof l eaps and bounds c an be ex pec t ed f r om t hes et ec hnol ogi c al l y adv anc ed
r epl i c at e what t he human v i s ual aut omat ei ti sa c hal l enge wor t h s ol v i ng.Wi t hc ut t i ng edger es ear c h bei ngappl i edonal ar ges c al e,t hes e ut i l i t i eswhi c hwet houghtwer enex t t oi mpos s i bl ej us t20y ear sago,hav e bec omet oday ’ sr eal i t y . I ti s i mpor t ant t o anal y z e t hi s phenomenon f r om a br oader c or por at ebus i nes spoi ntofv i ew, asi t hasbec omebenefic i alf ort hes eni or ex ec ut i v est of oc usont ec hnol ogi c al anal y t i c s , es pec i al l y i n ar eas of mac hi ne l ear ni ng, ar t i fic i al i nt el l i genc e,bi gdat aandot hers uc h 21s t c ent ur y i nnov at i ons . Thes e t ec hnol ogi es ar e di s r upt i ng s t at us quosonadai l ybas i s ,andi n t hepr oc es s ,t heyar emak i ngfir msa l otofmoney .Hav i ngafir s tmov er s ’ adv ant agei nt hes egr oundbr eak i ng t ec hnol ogi es wi l lboos tt he fir m’ s bot t oml i nes t o a l ar ge ex t ent . Under s t andi ngandappl y i ngt hem i n r eal l i f e i s wher e our ent i r e s er v i c es bas ed wor k f or c ei smov i ng t owar ds . I nc ont empor ar yt i mes ,
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15 i t has bec ome pr udent t hat al l gener al i s templ oy eesi nafir m al s o hav e a bas i ck nowl edge i nt hes e s pec i fic r ev ol ut i onar yc onc ept s ,t o boos tt hei rown c ar eer s ,t o boos t t hei rc ompany ’ sec onomi c gr owt h, and t o boos t humani t y ’ s ov er al l k nowl edgepool . Anal y t i c si st heundeni abl ef ut ur ef or ushumans ; andt hef ut ur ei sher e. Andi ti sher et os t ay .
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17 Thegr eat es tc onc er nf ormos tt y pes ofc ount er f ei tpr oduc t si st heheal t h s af et yr i s k st hatt hey pos et ot he us er s . I nc ount er f ei tphar mac eut i c al s , t he wor l d heal t h or gani z at i on r epor t edl yes t i mat est hatmor et han 120, 000 peopl e di e eac hy ear i n Af r i c a al one as a r es ul t of f ak e ant i mal ar i aldr ugs( The WHO has r ec ent l y r epl ac ed t he t er m
“ c ount er f ei t ” wi t h“ f al s i fied” when r ef er r i ng t o qual i t y c ompr omi s ed medi c at i ons ) .Ac c or di ng t o aWHO r epor t ,1i n10medi c alpr oduc t si n dev el opi ng c ount r i es i s c ount er f ei t ed or f al s i fied. Thes e s t udi esi ndi c at et hatl owi nc omeand mi ddl ei nc omec ount r i eshav emor e pr ev al enc e of c ount er f ei t medi c al pr oduc t sand henc e ar e atgr eat er r i s k .
18 f ur t herdi s eas es , wi l l c er t ai nl yr epr es ent amongs tt hec i t i z ensoft heMi ddl e awas t ageofmoney . Henc e, f orget t i ng andL owi nc omec ount r i es . av i ewofdi r ec tc os t satt hehous ehol d l ev elr equi r esi nf or mat i onont hel i k el y heal t hi mpac t of poor pr oduc t i on, degr adat i onand f al s i fic at i onf oreac h dr ugc l as s .Thi shast obemer gedwi t h i nf or mat i onont hepr i c eofmedi c i nal pr oduc t i n eac h c l as s and t he pr opor t i on of t he c ount er f ei t or f al s i fied medi c alpr oduc t st hathav e been pai df oroutoff ami l ybudget s . Thi s fluc t uat es gr eat l y by c ount r i es . Heal t h i ns ur anc e and medi c al i ns ur anc et o ac hi ev e uni v er s alheal t h c ov erar ewel l es t abl i s hedi ndev el oped c ount r i es , t hi sr educ est hes pendi ngon heal t hf r om heal t hbudget s( Ter medas Out of poc k ets pendi ng) . The awar enes sabouts ubs c r i bi ng t o heal t hi ns ur anc ei sex pandi ng r api dl y i ns ev er almi ddl ei nc ome c ount r i es . Thathasl edt oamoder at edr opi nt he out of poc k ets pendi ng.But ,s t i l lt her e i sa s t agger i ng di f f er enc e i n t he out of poc k ets pendi ngi nheal t hc ar e bet ween Hi ghi nc ome c ount r i es and Mi ddl ei nc ome and L owi nc ome c ount r i es . Thi s has l ed t o f ur t her depr i v at i onoft hebas i chumanneeds
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moni t or i ng s y s t em f or t he hi ghi nc ome and ount er f ei t ed and f al s i fied medi c i nes , c ount r i es . The pr obl em c an be c ac c i nesandi nv i t odi agnos t i ct es t si n t ac k l edwel lonl yi fwec angaugei t , v ul y 2013.The gov er nment s of t he henc et her es houl d be c ons i s t ent J ddl ei nc ome and l owi nc ome dat a and s t r at egi c i nf or mat i on mi ount r i ess houl dwor kt oer adi c at et he gat her i ng.Thi swi l lhel pi nfil l i ngt he c c i t i z ens f r om
gaps t hat i mpede our abi l i t yt o under s t and t he ex ac t nat ur e and ex t ent of t he t hr eat pos ed by c ount er f ei t ed medi c alpr oduc t s .I n or der t o s t op c ount er f ei t i ng, c ompani es need t o adopt mor e c ompr ehens i v eappr oac h.Theef f or t
c ount er f ei t i ng ofmedi c alpr oduc t s ,as t hey hav e di r ec theal t hi mpl i c at i ons . The gov er nment c an c ons i der mor e s t r i c t l yr egul at i ng t he phar mac eut i c al i ndus t r y .The gov er nment smus tal s o
wor kont hes pr eadi ngofawar enes son t hebenefit sofheal t hi ns ur anc eandal l hec i t i z enss houl d beenc our aged t o madebymedi c alc ompani ess houl d t ubs c r i be t o at l eas t one medi c al be mul t i pr onged, t hat i s ,t hey s ns ur anc epol i c yasi twi l ls i gni fic ant l y s houl d bot hs t op t he of fli ne and i r eas et hei rout of poc k ets pendi ng onl i nec ount er f ei t i ng. Thec ompani es dec t h. s houl di nv es ti nmak i nguni quel ogo onheal and pac k agi ng,t hey s houl d al s o mak es ur et hatc ons umeri smade wel lawar eoft hebr anded medi c al pr oduc t di f f er ent i at or s . The c ompani esal s oneedt ofinds ol ut i on t ot heonl i nes el l i ngofc ount er f ei t ed medi c al pr oduc t s f or whi c h c ons ul t ant sneed t o be hi r ed and t i mel yi nt er nalas wel las ex t er nal audi tneedst obec onduc t ed..WHO i s al s o wor k i ng t owar ds fight i ng c ount er f ei tmedi c alpr oduc t s ,WHO hasl aunc hedi t sGl obals ur v ei l l anc e
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l i v es eas i er and bet t er wi t h t he adv anc ementoft ec hnol ogy .AsAI emer ged,i tdi v er s i fied i nt os ev er al fiel ds ,appl i c at i onsanddai l yut i l i t i es s uc h asMobi l e Apps ,Ec ommer c e, Bus i nes s , Manuf ac t ur i ng, Gami ng, Medi c al Sc i enc es , Bank i ng and F i nanc i alSy s t ems ,Ai rTr ans por tet c . AIac t sasas uppor t i ngt oolf orust o wor kef fic i ent l yand mak ei nf or med dec i s i ons .Al s o,i tenabl esmac hi nes t ot hi nkandr educ eshumanef f or t s byaut omat i ngt i mec ons umi ngt as k s s uc h ashi r i ng pr oc es s ,pr oduc t i on pr oc es set c . I nr ec enty ear s , maj orent er pr i s esand c or por at i onshav ec omeupwi t ht hei r AIs ol ut i onsanddev i c est hatar e
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24 •A r epor tbyI HSMar k i tc l ai mst hat byt heendofy ear2020, t her ewi l lbe 7bi l l i onAIenabl eddev i c es . •Gar t ner ,ar es ear c hc ompany ,s t at es t hat by 2020, 85% of Cus t omer i nt er ac t i onsi nbus i nes swi l lbet ak en c ar eofbyc hat bot s ,v i r t ualadv i s or s andot herdi gi t alas s i s t ant s . •I nf ut ur e,c arac c i dent swoul d be pr ev ent ed orwemi ghts eeas t eep f al li nt hei rf r equenc yofoc c ur r enc es . Per hapss el f -dr i v i ngwoul dt ak eov er . A dat ar epor tofTes l ac l ai mst hat 40% of Tes l ac ar Ac c i dent s hav e r educ ed af t ert he i ns t al l at i on ofi t s aut opi l ots el f dr i v i ngs of t war e. •Ac c or di ng t o ar ec entr epor tby Adobe,i nv es t ment smadebyVCsi n AI power edSt ar t upshav ei nc r eas ed s i xf ol dt i mess i nc e2000. •Mons t er . c om c l ai ms t hr ee mos t popul ar j ob s k i l l s of t oday ar e mac hi nel ear ni ng,deepl ear ni ngand nat ur all anguage pr oc es s i ng.Thr ee oft hem ar ec r uc i alc omponent sofAI r es ear c h. •A r epor tbyAc c ent ur es t at est hat i mpac t of AI t ec hnol ogy on bus i nes s es i s t hat i t i nc r eas es bus i nes spr oduc t i v i t yand ef fic i enc y
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Q1 _ _ _ _ _ _ _ _ _hi dest hel i mi t at i onsofJ av abehi nd apower f uland c onc i s e Cl oj ur eAPIf orCas c adi ng. 1) Sc al di ng 3) Hc at al og
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B)RedHat , I BM
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7)X,i st hel ar ges tonl i nes oc i almedi aands oc i alnet wor k i ngc ompanyi nt he wor l d,hass t ar t edac y pt oc ur r enc ypr oj ec tY.28c ompani eshav es hownt hei r i nt er es tt oj oi nY. I dent i f yc or r ec tpai r A)L i br a, VI SA, Al f r edF . Kel l y , J r . B)L i br a, Mas t erCar d, Phut hiMahany el eDabengwa C)Cr y pt o, Pay pal , Dani elSc hul man D)Cr y pt o, Rupay , I r eneRos enf el d 8) Xhasi nv es t ed$1Bi nYf ors uper c omput i ngt ec h.Ywi l ldev el opAI bas ed s uper c omput i ngt ec hnol ogi esf orX' sAz ur ec l oudc omput i ngs er v i c easpar tof t hedeal . I dent i f yX, Y. A)Mi c r os of t , OpenAI C)Googl e, OpenAI
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