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Holiday Season is Almost Here and Goizueta Business School has Holiday Experts Ready to Help
The holidays are the difference between operating in the red and operating in the black for many retail businesses. The Goizueta Business School has experts who can provide insight and expertise on a wide range of stories. Economics of the Holiday Season - Economist Tom Smith can discuss seasonal hiring, retail expectations, and the importance of the holiday season to retailers. Black Friday - Doug Bowman can discuss retail expectations and the importance of the holiday season to retailers. He expects this year shoppers will go to fewer stores and not travel long distances, delivery capacity will be an issue, and work from home/school purchases will be hot. AI Changing How We Shop - David Schweidel can discuss how new AI tools are changing how we shop and how brands are using AI to reach prospective customers. Product Reviews See Huge Increases: How Reviews Impact Holiday Shopping - What do reviews mean for the shopping experience and do reviews impact purchase? Reshma Shah can discuss the impact reviews have on the point of purchase. Product Returns - Marat Ibragimov can discuss the retail strategy and impact of holiday gift returns, comparing online returns to brick and mortar. Food and Travel Pricing - Saloni Firasta Vastani can discuss the cost of this year’s holiday dinners. What’s gone up and what’s gone down? She can also discuss the cost of travel this holiday season and what consumers can do to get a better deal. Avoiding Holiday Overspend - Rohan Ganduri can discuss how holiday shopping can expose consumers to credit products like store credit cards that offer various incentives to take up the credit card, often resulting in overspending. Ganduri can discuss his latest research paper on how taking up store credit cards can impact consumers’ future credit outcomes. Social Media & Advertising - David Schweidel can discuss how micro influencers work, how using product placement can cut through the advertising clutter, and the power of product reviews. The Constantly Changing Online Retail Experience - Styling videos, personal shoppers, messaging, and even Augmented Reality (AR) are being used to generate purchases. Doug Bowman can discuss how stores are reimagining the shopping experience to attract customers in person and online. Influencers Influencing Our Purchases - How are creators impacting the economy and are influencers impacting our purchasing decisions? Marina Cooley looks at the creator economy and how TikTok and Instagram are impacting our holiday wish lists and what it takes for a product to go from unknown to trending. She can also discuss how this holiday season will help normalize in-app TikTok shopping (something Instagram has struggled to execute on). How to Attract Customers to the Store this Holiday: Merging Online and In-person Experiences May be the Answer - Shopping looks different and it is up to retailers to stand out not just in the brick and mortar world but also online. The success of a business can balance on the customer experience. Reshma Shah can discuss the policies brick and mortar retailers need to have in place to successfully merge online shopping and the in-person shopping experience. To book your expert interview, call Kim Speece at (404) 849-6579 or email her at kim@leffassociates.com or simply click on the icon available. To find an expert on a specific topic, click the “Search” feature at https://goizueta.emory.edu/faculty/profiles. To check out other recent research, visit https://www.emorybusiness.com/faculty-research/.
Promoting your expertise just got easier with a host of new platform features. Well the world’s best platform for Expertise Marketing just got even better! We’ve just released the latest release of ExpertFile and it’s huge. Our newly designed, mobile-ready platform provides the most intuitive, collaborative solution for creating, managing, and showcasing your experts and insights. Whether you are managing content directly on your website or promoting it through one of our powerful distribution channels like our expertfile.com search engine used by leading media outlets, you will find a lot of great new features packed into this release. With a host of new and enhanced features, streamlined workflows and more advanced analytics we’ve made showcasing your expertise, capturing valuable inquiries, and tracking your results easier than ever. You will see some exciting improvements that enable you to create highly customizable, searchable directories and media-rich profiles and content features to sharing valuable expert insights with detailed Posts and Q&A. Built for marketing and communications professionals and compatible with your current systems we continue to take the burden out of managing your expert content, and eliminate the need for ongoing, costly or time-consuming IT projects. The following highlights some of the great new features and functionality that can be found across the platform. We hope you take a moment to explore the new ExpertFile. And please let us know what you think! Cheers, Robert ------------ Robert Carter Co-Founder & VP Product | ExpertFile A Quick Tour of What's New with the ExpertFile Platform Home Screen Experience the power of the ExpertFile Platform from the moment you log in. The *NEW* Home Screen is your gateway to a wealth of essential information related to your account, key analytics, recent activities and more. With intuitive menus and a new universal search bar for easy discovery, the Home tab is your jumping off point for effortlessly exploring all your expert content and quickly connecting with valuable inquiries. Our refined layout features clear tab structures, quick action buttons and links making it a breeze to create and manage your experts and their insights, whether creating detailed media-rich profiles, insightful posts, Q&A or other featured content. Plus, gain valuable insights and optimize your expertise marketing strategy with convenient access to resource links and tools to grow your online presence both on your website, through Google or by one of our powerful distribution channels. New Home Screen features include: Quick action buttons to access all frequent activities Universal search capabilities for all your expert content User/license overview Analytics summary Recent content & login activity People Tab Manage your experts and your team through the People tab. Quickly add users and create captivating mobile-ready profiles that showcase their knowledge and thought-provoking content. Effortlessly update experts profiles using our user-friendly inline editor or take advantage of bulk actions to make changes across your entire team. Easily create and assign your experts to categories and tags enhancing discovery and building of custom directories and featured content. Transition profiles seamlessly from drafts to public visibility, or establish private password-protected viewing for exclusive restricted access directories and targeted profile outreach. Build the perfect support network. Manage your experts, their content, and inquiries with ease, while collaborating with diverse teams. With unlimited admins and agent users, we allow for more efficient management and better visibility across your entire roster of experts or within specific groups of experts. Easily add users from a diverse range of departments such as marketing communications, digital, research, analyst relations, and more to help maintain fresh and engaging expert content and ensure you never miss valuable inquiries. Assign agents to make edits or handle inquiries on an expert or multiple experts behalf. Extend your reach with access to leading tools for leveraging your experts, including easy export functionality and variety of integrations options for your website and with external platforms. New People Tab features include: New user setup enhancements Streamlined profile status options Advanced filtering capabilities People specific activity log Post Tab The Post tab is the starting point for sharing your organization’s insights on current news, trending topics and more by creating shareable Posts that connect back to your experts. Interactive and mobile-ready, Posts let you quickly deliver expert, SEO friendly content to your audiences on any device at any time. Quick links allow you to create drafts including using our new AI Brainstorming feature to help generate ideas and initial drafts. For more interaction with your expert Posts streamline content discovery and expand your content distribution capabilities by tagging your Posts. Whether you choose to publish immediately or schedule for future release, you have the flexibility to align your content with breaking news, important announcements, cyclical trends or your marketing calendar. Finally increase the power of Posts by assigning individual experts to each post to better connect your insights to your experts, driving more profiles views and valuable inquiries. New Post Tab features include: Quick create button with AI brainstorming Advanced filtering capabilities Bulk action management options Connected “experts” visibility Enhanced tag management Post specific activity log Q&A Tab The Q&A tab makes leveraging the power of Q&A easy. Deliver insights through expert curated Q&A, either with a single question and answer from an expert or organization, or allow for multiple experts to provide a variety of answers. By connecting your answer to your experts, you’ll drive profile views and capture valuable inquiries. Streamline content discovery and expand your content distribution capabilities by tagging your Q&A. New Q&A Tab features include: Quick create button Advanced filtering capabilities Bulk action management options Connected “experts” visibility Enhanced tag management Q&A specific activity log Analytics Tab Track your performance with the customizable features of the new Analytics Tab. Access current metrics across all important areas from your people to Posts, Q&A and inquiries. Define your view by type and time period. Quickly export your monthly PDF reports or create custom exports to allow for detailed reporting that matches your organization’s reporting cycles. Easily export all your metrics to create additional reports in other systems you currently use. New Analytics Tab features Include Content-type specific reporting Date range filtering Customizable graphing capabilities Enhanced data exports Downloadable monthly reports Bulk actions & Filtering Inquiries Tab The Inquiries tab provides access to all the capabilities you need for viewing, managing and responding to your opportunities. The layout lets you quickly understand the nature of your incoming inquiries whether they’re related to media, speaking, research, customer/business requests and more. Quickly view key details of all incoming inquiries including time-sensitive requests that require immediate follow-up. Activate only the type of inquiries you’re looking to receive through our inquiry type setup. At the same time keep unwanted messages away from your experts with our AI Quarantine function that monitors all your incoming inquiries and proactively blocks messages that can be reviewed later. Ensure total visibility with our mailing list functionality that enables inquiries to be seen by type beyond the specific setup for each expert. New Inquiry Tab features include: Enhanced AI Quarantine protection Organization wide blocking Network level blocking Enhanced inquiry filtering Inquiry specific activity log Settings The new Settings section provides easier more intuitive access to a wide variety of account customizations and system settings to tailor your implementation. This includes access to integration options from Custom API to Embeds and our WordPress plugin. New Settings Section features Include Enhanced brand management capabilities Improved asset uploader Refined layout New “Customer Success” resources
The Role of Artificial Intelligence in Customer Experience
Gaurav Jain, assistant professor of marketing at the Rensselaer Lally School of Management, examines how individuals make judgments, estimates, and decisions in the absence of complete information. Previously, Jain served as the chief marketing advisor at multiple firms. Below are his thoughts on the impact of artificial intelligence (AI) on customer experience. Voice of the Customer In today's hyper-connected world, the voice of the customer (VoC) is louder and clearer than ever. But how do we sift through this cacophony to understand what our customers are really saying? Enter AI. It's revolutionizing the way customer experience teams handle VoC programs, and as a marketing leader, I find this incredibly exciting. Take direct customer feedback, for example. We're no longer just collecting survey responses and storing them in a database for quarterly review. AI algorithms, particularly those using natural language processing, are helping us instantly categorize and prioritize this feedback. Imagine an e-commerce platform that can immediately flag a customer's mention of "late delivery" in a post-purchase survey. That's not just efficient; it's customer-centric. But what about the things customers are saying when they're not directly talking to us? That's where AI-driven sentiment analysis comes in. These tools can scan social media, forums, and review sites to gauge the sentiment behind a customer's words. I've seen hotel chains use this technology to monitor travel forums and review sites. If a guest mentions "noisy rooms," even without lodging a direct complaint, the brand can proactively look into soundproofing solutions. Then there's inferred feedback, the kind you get by reading between the lines. AI can analyze customer behavior, like frequent page visits without conversion or cart abandonment, to suggest what might be going wrong. For instance, an online fashion retailer could use AI to figure out why a particular dress gets a lot of views but few purchases. Maybe it's the sizing, maybe it's the price, but the point is, you get to know without having to ask. And it doesn't stop at gathering feedback. AI is helping us turn this raw data into actionable insights. We can predict future behavior, like churn rates, based on past feedback. This allows us to be proactive rather than reactive, which is a game-changer in customer experience management. Finally, let's talk about what happens after we've gathered all this feedback. AI is ensuring that every customer who takes the time to share their thoughts receives an immediate and appropriate response. Chatbots can handle common queries or concerns, making the customer feel heard and valued right away. So, from the perspective of a marketing leader, it's not just about the efficiency that AI brings to VoC programs. It's about the opportunity to deepen our connection with customers. By truly understanding their words, their sentiments, and even their behaviors, we can craft experiences that resonate on a human level. And in a world that's increasingly digital, that human touch is what sets a brand apart. Customer Service It's truly intriguing to observe how AI is weaving its way into the customers’ experience. Online, chatbots are making waves. Chatbots are not just digital tools; they're our first point of contact, bridging the gap between brands and consumers. However, there was always the question of accuracy versus efficiency while managing these chatbots – AI has answered that question. AI chatbots provide real-time yet accurate assistance, making the digital shopping journey feel more interactive. Companies can reduce customer dropout while avoiding the expense of managing a large human customer service team. AI is revolutionizing phone-based customer service as well. Voice recognition allows natural language processing for easier navigation, while predictive analysis anticipates caller needs based on their history. Enhanced personalization means customers no longer repetitively provide account details, and emotion detection aids in gauging caller mood. The result? Reduced wait times, more efficient interactions, and a significantly improved telephonic customer experience. In essence, AI is bridging the gap between technology and human touch in the retail world, making our interactions with brands more meaningful and personalized. Again, companies can do this in a cost-effective manner. Jain is available to speak with media - - simply click on his icon now to arrange an interview today.
Back to School: Experts Available to talk ChatGPT, Food Insecurity and Education Leadership
With the school year starting very soon, the University of Delaware media team have rounded up some education stories, experts and research to consider for feature/publication. Experts: Gary Henry is dean of the University of Delaware’s College of Education and Human Development and professor in the School of Education and the Joseph R. Biden, Jr. School of Public Policy & Administration. He specializes in education policy, educational evaluation, educator labor markets, and quantitative research methods. Gary can lend context and steps to take to reverse/adapt to this new educational landscape. Allison Karpyn is an associate professor who can speak to topics related to hunger, obesity, school food, supermarket access, food insecurity, healthy corner stores and strategies to develop and maintain farmer’s markets in low-income areas. She has spoken extensively about food in schools and can offer context to those subjects. Joshua Wilson is an associate professor and has been featured in WaPo for his AI/ChatGPT knowledge in the past. His research broadly focuses on ways to improve the teaching and learning of writing and specifically focuses on ways that automated writing evaluation systems can facilitate those improvements. Stories: UD professor partners with Sesame Workshop to create Stories with Clever Hedgehog Among the casualties of the Ukraine war are 2 million-plus children. In an effort to restore some sense of normalcy to their education years, University of Delaware professor Roberta Golinkoff—a nationally recognized expert in childhood literacy—has partnered with Sesame Workshop and others to develop Stories with Clever Hedgehog, a website with free interactive e-books, games and other resources. Books are available in both Ukrainian and English, prompting a global experience for readers of any background. There are photos and video ready for this coverage. Golinkoff and Sesame Workshop leadership are open for interviews. Research: Study finds teachers’ anxiety in mathematics and science was associated with the mathematics and science anxiety of their low-SES students To reach out to specific experts, please click on their "View Profile" button.
Artificial intelligence has been hogging headlines around the world in recent months. In late March 2023, an unprecedented coalition of tech CEOs signed an open letter calling for a moratorium on AI training. The race to empower powerful artificial minds should be paused, argued signatories (including Elon Musk) to give humanity time to review and reassess the potential risks of developing “human-competitive intelligence”–intelligence that “no one–not even their creators–can understand, predict, or reliably control.” Concerns about the unchecked rise of AI are not new, and global media is increasingly sounding the alarm, citing concerns that range from invasion of privacy to an existential threat to human existence. Weighing in on this with compelling new evidence around the “unintended consequences” of AI is research by Goizueta’s Ramnath Chellappa and Information Systems PhD candidate, Jonathan Gomez Martinez. Uncovering the Threat Their paper, Content Moderation and AI: Impact on Minority Communities, takes a hard look at how the use of AI in social media could disadvantage LGBTQ+ users. And what they find is worrying. Chellappa, who is Goizueta Foundation Term Professor of Information Systems & Operations Management, explains that he and Gomez Martinez homed in on Twitter to explore how unchecked artificial language moderation might (mistakenly) censor the use of “otherwise toxic” language by failing to understand the context or nuanced use of the LGBTQ+ lexicon. Examples of this include “reclaimed language”—verbiage that would be a slur in other contexts—but is reclaimed and prosocial if used by the originally targeted community. Their paper, Content Moderation and AI: Impact on Minority Communities, takes a hard look at how the use of AI in social media could disadvantage LGBTQ+ users. And what they find is worrying. Chellappa, who is Goizueta Foundation Term Professor of Information Systems & Operations Management, explains that he and Gomez Martinez homed in on Twitter to explore how unchecked artificial language moderation might (mistakenly) censor the use of “otherwise toxic” language by failing to understand the context or nuanced use of the LGBTQ+ lexicon. Examples of this include “reclaimed language”—verbiage that would be a slur in other contexts—but is reclaimed and prosocial if used by the originally targeted community. “This is a community that has ‘reclaimed’ certain words and expressions that might be considered offensive in other contexts. Terms like ‘queer’ are used within the community both in jest and as a marker of identity and belonging. But if used by those outside the community, this kind of language could be deemed inflammatory or offensive.” Gomez Martinez adds: “We wanted to measure the extent to which AI’s lack of a nuanced understanding of what is ‘acceptable’ affects minority users’ online interactions. As humans, we understand that marginalized communities have long used ‘reclaimed words’ both in jest and as a kind of rallying cry. Our intuition was that the machine simply wouldn’t understand this without context—context that is more immediately apparent to people.” Determining the Impact of AI-Based Moderation To test this, he and Chellappa looked at data from social media behemoth, Twitter. During the pandemic in 2020, the platform made a significant shift to AI-based content moderation to accommodate stay-at-home measures. Data from Twitter’s proprietary Academic Research API afforded Gomez Martinez and Chellappa access to a complete listing of historical tweets and replies before, during and after this period. Together they analyzed a total of 3.8 million interactions (1.8 million tweets and 2.0 million replies) from a panel of 2,751 users, of which 1,224 self-identified as LGBTQ+ in their Twitter bios. Their study ran over four months, from January to May 2020, before, during and after the switch to machine-based moderation. Using the same tools that Twitter moderators deploy to moderate interactions, Gomez Martinez and Chellappa were able to measure any increase or decrease in pro-social, in-group teasing and toxic language among LGBTQ+ users: terms such as “bitch” or “queer,” which research shows to be a form of ritualized insults—dubbed “reading” by the community—which can appear inappropriate or incoherent to outsiders, says Chellappa. “Analyzing the language, we find a notable reduction in the use of terms that could be considered toxic. When the AI moderation is in effect, you see these users’ language become more vanilla,” he adds. Quantifiably so, in fact. Chellappa and Martinez find a 27 percent reduction in the use of reclaimed language among LGBTQ+ users. And while that doesn’t sound like much, it’s significant for the community, says Gomez Martinez. Using in-language and reading each other is one way for this marginalized group to create a sense of community and social status. Not just that, we know from research that LGBTQ+ people use slurs and insults as a way of preparing themselves emotionally and psychologically for hostile interaction with heterosexual individuals. This kind of teasing and playing helps build resilience, so any reduction in it is significant.” Jonathan Gomez Martinez Good Intentions May Breed Unexpected Consequences So what does this mean for social media, for the LGBTQ+ community or any marginalized group for that matter, that might be prone to automated censorship? And how does any of this play out in the context of broader concerns around AI? For Chellappa and Gomez Martinez, there is a major hazard in granting technology any degree of control over how human beings interact. And it’s rooted in the mismatch between good intentions and unexpected consequences. Their paper, one of the first to dig into the impact of AI on actual business and society, lays bare some of the real-world impact AI has already had on marginalized people. While this study looks at the LGBTQ+ community, it could equally apply to any group that is prone to bias or exclusion—racial minorities or any other underrepresented demographic. “Wherever you have user-generated content, you are likely to find communities with their own, unique way of interacting. We looked at LGBTQ+ Twitter users, but you could also look at the African American community, for instance.” Ramnath K. Chellapa At a time when social media platforms have become almost newslike in their influence, this is a concern. On the one hand, censoring certain demographics might earn Twitter et al an unwanted reputation for being anti-LGBTQ+ or racist, he adds. But there are even bigger stakes here than bad publicity. “Twitter has long aspired to be a kind of global town square,” says Gomez Martinez. “But you end up pretty far from that scenario if only some voices are truly heard, or if you start reinforcing biases because you are using a time-saving technology that is not equipped yet to understand the complexity and nuance of human interaction.” AI isn’t there yet, say Chellappa and Gomez Martinez. And they caution against using AI indiscriminately to expedite or streamline processes that impact human communication and interchange. If we don’t keep track of it, their research shows that AI has the potential to start dictating and moving people into normative behavior—effectively homogenizing us. And that’s a problem. Looking to know more? Ramnath Chellappa is available to speak with media. Simply click on his icon now to arrange an interview today.
Expert Insight: The Voice of Alexa: How Speech Characteristics Impact Consumer Decisions
In the 2020 film “Superintelligence,” an all-powerful artificial intelligence attempts to take over the world, and it studies an average person, played by Melissa McCarthy, to decide if humanity is worth saving. The AI is voiced by James Corden—a voice it chooses because it knows it’s one McCarthy’s character will engage with. Rajiv Garg, associate professor of Information Systems & Operations Management at Emory’s Goizueta Business School, shows the “Superintelligence” trailer before his research presentations to set the tone. Garg conducts research that explores the impact of artificial intelligence voices on consumer behavior and purchase intent, along with Haris Krijestorac, a professor at HEC Paris, and Vijay Mahajan, a professor from The University of Texas at Austin. Garg’s research began when Amazon launched celebrity voices for its Alexa device in 2019. From Samuel L. Jackson to Shaquille O’Neal, users can now get their news and entertainment, while interacting with their favorite superstars. “I questioned if certain voices could get more engagement or more purchases from consumers,” Garg says. If Alexa starts talking to you in Samuel L. Jackson’s voice, will you continue the conversation? What could Samuel L. Jackson’s voice sell you that you would buy? Garg and his team began their research by collecting more than 300 celebrity voice samples, which they analyzed based on their sound characteristics, such as amplitude, frequency, and entropy. They looked at 20 sound characteristics and identified that all the voices could be segmented into six clusters: ostentatious, colloquial, friendly, authoritative, seductive, and suave. The team then created advertisements for select products using computer generated voices for each of the six clusters, opting for artificial intelligence-created speech instead of celebrity deep fakes due to permission legalities. They chose a shoe and an office chair as their products, and created two different advertisements for each product. One ad was simple, denoting the shoe as comfortable for all-day wear and the office chair as comfortable for sitting in for extended time periods. The other ad was hedonic, denoting the shoe as crafted with Italian leather and the office chair equipped with several massage features. They recorded the four advertisements using both a female and male voice for all six voice clusters. Study participants listened to each of the four advertisements in one of the 12 voices, which was randomly selected. After the advertisement was played, participants were asked if they wanted more information, and later, if they wanted to buy the product (omitting the price as to not add another factor to their decision making). Influencing Consumer Behavior For simple, utilitarian products, they found no significant effect of voice on information seeking behavior. Garg says once participants hear this type of advertisement, they simply decide to purchase or move on. Participants do, however, engage more in information seeking behavior for hedonic products when the voice is ostentatious, seductive, or authoritative. The team also found men were more likely than women to engage with ostentatious or seductive voices, and women were more likely to engage with friendly or colloquial voices. Overall, they found participants did not seek information with male voices. For information seeking, men and women only engage if the voices are female, which is somewhat intuitive. The industry is doing this—Alexa, Google, and Siri all have a female voice. In terms of purchase intention, they found ostentatious voices have higher yields for utilitarian products. Men, especially, were more likely than women to purchase a utilitarian product advertised in an ostentatious voice. Think about advertising a stapler. It’s a stapler—it staples paper—but you advertise it in a French accent to make it sound interesting. Conversely, for hedonic products, an ostentatious voice has a negative effect on purchase intent because Garg says it can make the product sound gimmicky. Their research shows colloquial voices do the best here because people focus more on the advertisement’s content. Across the board, they found seductive voices have a negative effect on purchase intent, but more so on utilitarian products compared to hedonic ones. Men were more likely than women to respond positively to seductive and suave voices. Applying the results Voices are another way smart device companies can personalize their customers’ experiences. Garg says these companies should be aware that there may be a certain voice that will garner the best engagement. Their findings are not isolated to business, but may apply to other industries, such as the media. Garg says, for example, if publications intend to increase reader curiosity and engagement, they should use a female colloquial voice on “click to listen” features. Although not yet tested, Garg says he wouldn’t be surprised if their results extend to real-world settings with real human voices as well. During their research, Garg’s team asked participants if they had heard the advertisement voices before, and about 15 percent of respondents says they had. "These were voices we’d created for the first time,” Garg says. “If they say they’ve heard the voice before, that means they were thinking of them as human voices. Although we didn’t study it that way, I do believe what we’re seeing will be relevant for actual human being’s voices and interactions.” Having researched this for years, Garg says every time he listens to a voice, whether a customer service representative or podcast host, he questions whether or not it is impacting his behavior. A lot of times when I’m making a decision, I know that I’m making that decision passively because of the voice. “I’m acting 50 percent based on the rational information in the voice, but the other 50 percent I just want to listen more. There is an inherent desire for a certain voice.” Garg says his favorite part of the research are those “aha moments,” whether they be the influence of voice in his own life or in the industry—such as large companies using female voices in their products to draw engagement. He says he hopes to continue doing this kind of research to help startups and other companies perform better, as AI-powered voices continue to change the way people interact with technology and consume information. “We’re finding these interesting phenomena that can help create new products that are more effective,” Garg says. “I am trying to increase the economic surplus, in some ways to improve society, and this technology presents numerous opportunities.” Looking to know more? Rajiv Garg from Emory’s Goizueta Business School is available to speak with media – simply click on his icon now to arrange an interview today.
Aston University establishes new independent investment company
Aston University is part of a group of eight universities which has established a new investment company Midlands Mindforge will accelerate the commercialisation of university research It aims to raise up to £250 million from investors. Aston University is one of eight research intensive universities in the Midlands to establish a new investment company to accelerate the commercialisation of university spinouts and early-stage IP rich businesses in the region. Midlands Mindforge Limited has been co-founded by Aston University, University of Birmingham, Cranfield University, Keele University, University of Leicester, Loughborough University, University of Nottingham and University of Warwick, collectively Midlands Innovation. This ambitious, patent capital investment company plans to raise up to £250 million from strategic corporate partners, institutional investors and qualifying individuals. It aims to transform ground-breaking science and technology into successful businesses with real-world impact. Midlands Mindforge will help to address the significant funding deficit for early-stage technology businesses in the region. Through the combination of additional capital and company-building skills, Midlands Mindforge will lay the foundations of a more vibrant ecosystem for emerging science-backed companies in areas such as Clean Technology, AI and Computational Science, Life Sciences and Health Tech. Professor Aleks Subic, Vice-Chancellor of Aston University, said: "Aston University has a strong track record in bringing together industry and academia to solve real world problems and drive innovation through applied and translational research. Â Investment raised through Midlands Mindforge will enable a step change that will ensure we get the very best outcomes for our research. "The impact of increased investment in research translation will be felt widely, with Midlands Mindforge supporting the growth of high value added businesses and jobs in the region and creating the right conditions to build future global companies. This is a hugely exciting time for Aston University and the wider Midlands Innovation group of universities, and I look forward to seeing the benefits that this strategic development will bring." Collectively, the eight founding universities have the most postgraduate students, the highest levels of annual income, more research disclosures and patents generated per unit of research spend in the last three years, in comparison to any other UK university grouping. Minister of State for Science, Research & Innovation George Freeman MP said: "Commercialising UK science & technology for global industrial adoption has never been more urgent for both the UK economy and the global resource challenges facing us. The Midlands Innovation universities are driving a new era of innovation from robotics and advanced manufacturing to life science and autonomous vehicles and much more. "As we in Government increase UK public R&D to a record £20 billion a year, the key is private finance backing spinouts and scale-ups. The Midlands is rapidly becoming a world class UK cluster of excellence and Midlands Mindforge will play a key role in bringing global investors to help back world class companies." Chairman of the Midlands Engine Partnership, Sir John Peace, said: "The Midlands has always been associated with exceptional invention and creativity, but has long experienced significant underinvestment and consequently productivity levels have lagged behind the rest of the UK. "This bold and ambitious initiative led by the Midlands Innovation universities has the potential to help close the investment gap, supporting our region to reach its true potential for sustainable economic growth. Midlands Mindforge will help to further fast-track commercialisation of research ideas, creating a more resilient economy and playing an important role in levelling up the Midlands." Andy Street, Mayor of the West Midlands, said: "A key part of my mayoral mission is to drive our regional recovery forward and help generate the high-quality jobs of the future in order to improve quality of life for local people. This exciting new investment vehicle will very much support that mission planting the seeds for long-term sustainable economic growth here in the West Midlands. "Many brilliant ideas and top businesses have spun out from Midlands universities and this new venture will help us to advance that agenda and retain more of our innovative success stories within our region. "Together we can better nurture the enterprising talent on our doorstep and this new endeavour creates a wonderful opportunity to do just that." For more information about Midlands Mindforge visit www.midlandsmindforge.com
Ask an Expert: Is the "AI Moratorium" too far reaching?
Recent responses to chatGPT have featured eminent technologists calling for a six-month moratorium on the development of “AI systems more powerful than GPT-4.” Dr. Jeremy Kedziora, PieperPower Endowed Chair in Artificial Intelligence at Milwaukee School of Engineering, supports a middle ground approach between unregulated development and a pause. He says, "I do not agree with a moratorium, but I would call for government action to develop regulatory guidelines for AI use, particularly for endowing AIs with actions." Dr. Kedziora is available as a subject matter expert on the recent "AI moratorium" that was issued by tech leaders. According to Dr. Kedziora: There are good reasons to call for additional oversight of AI creation: Large deep or reinforcement learning systems encode complicated relationships that are difficult for users to predict and understand. Integrating them into daily use by billions of people implies some sort of complex adaptive system in which it is even more difficult for planners to anticipate, predict, and plan. This is likely fertile ground for unintended – and bad – outcomes. Rather than outright replacement, a very real possibility is that AI-enabled workers will have sufficiently high productivity that we’ll need less workers to accomplish tasks. The implication is that there won’t be enough jobs for those who want them. This means that governments will need to seriously consider proposals for UBI and work to limit economic displacement, work which will require time and political bargaining. I do not think it is controversial that we would not want a research group at MIT or CalTech, or anywhere developing an unregulated nuclear weapon. Given the difficulty in predicting its impact, AI may well be in the same category of powerful, suggesting that its creation should be subject to the democratic process. At the same time, there are some important things to keep in mind regarding chatGPT-like AI systems that suggest there are inherent limits to their impact: Though chatGPT may appear–at times–to pass the famous Turing test, this does not imply these systems ’think,’ or are ’self-aware,’ or are ’alive.’ The Turing test aims to avoid answering these questions altogether by simply asking if a machine can be distinguished from a human by another human. At the end of the day, chatGPT is nothing more than a bunch of weights! Contemporary AIs–chatGPT included–have very limited levers to pull. They simply can’t take many actions. Indeed, chatGPT’s only action is to create text in response to a prompt. It cannot do anything independently. Its effects, for now, are limited to passing through the hands of humans and to the social changes it could thereby create. The call for a moratorium emphasizes ‘control’ over AI. It is worth asking just what this control means. Take chatGPT as an example–can its makers control responses to prompts? Probably only in a limited fashion at best, with less and less ability as more people use it. There simply aren’t resources to police its responses. Can chatGPT’s makers ‘flip the off switch?’ Absolutely – restricting access to the API would effectively turn chatGPT off. In that sense, it is certainly under the same kind of control humans subjected to government are. Keep in mind that there are coordination problems – just because there is an AI moratorium in the US does not mean that other countries–particularly US adversaries– will stop development. And as others have said: “as long as AI systems have objectives set by humans, most ethics concerns related to artificial intelligence come from the ethics of the countries wielding them.” There are definitional problems with this sort of moratorium – who would be subject to it? Industry actors? Academics? The criterion those who call for the moratorium use is “AI systems more powerful than GPT-4.” What does “powerful” mean? Enforcement requires drawing boundaries around which AI development is subject to a moratorium – without those boundaries how would such a policy be enforced? It might already be too late – some already claim that they’ve recreated chatGPT. There are two major groups to think about when looking for develop regulatory solutions for AI: academia and industry. There may already be good vehicles for regulating academic research, for example oversight of grant funding. Oversight of AI development in industry is an area that requires attention and application of expertise. If you're a journalist covering Artificial Intelligence, then let us help. Dr. Kedziora is a respected expert in Data Science, Machine Learning, Statistical Modeling, Bayesian Inference, Game Theory and things AI. He's available to speak with the media - simply click on the icon now to arrange an interview today.
Aston University and asbestos consultancy to use AI to improve social housing maintenance
• Aston University and Thames Laboratories enter 30-month Knowledge Transfer Partnership • Will use machine-learning and AI to create a maintenance prioritisation system • Collaboration will reduce costs, emissions, enhance productivity and improve residents' satisfaction. Aston University is teaming up with asbestos consultancy, Thames Laboratories (TL) to improve efficiency of social housing repairs. There are over 1,600 registered social housing providers in England, managing in excess of 4.4 million homes. Each of these properties requires statutory inspections to check gas, asbestos and water hygiene, in addition to general upkeep. However, there is not currently a scheduling system available that offers integration between key maintenance and safety contractors, resulting in additional site visits and increased travel costs and re-work. Aston University computer scientists will use machine-learning and AI to create a maintenance prioritisation system that will centralise job requests and automatically allocate them to the relevant contractors. The collaboration is through a Knowledge Transfer Partnership (KTP) - a collaboration between a business, an academic partner and a highly-qualified researcher, known as a KTP associate. This partnership builds on the outcomes of TL’s first collaboration with Aston University, by expanding the system developed for the company’s in-house use - which directs its field staff to jobs. The project team will improve the system developed during the current KTP to enable it to interact with client and contractor systems, by combining an input data processing unit, enhanced optimisation algorithms, customer enhancements and third-party add-ons into a single dynamic system. The Aston University team will be led by Aniko Ekart, professor of artificial intelligence. She said: “It is a privilege to be involved in the creation of this system, which will select the best contractor for each job based on their skill set, availability and location and be reactive to changing priorities of jobs." TL, based in Fenstanton, just outside Cambridge, provides asbestos consultancy, project management and training to businesses, local authorities, social housing and education facilities, using a fleet of mobile engineers across the UK. John Richards, managing director at Thames Laboratories, said: “This partnership will allow us to adopt the latest research and expertise from a world-leading academic institute to develop an original solution to improving the efficiency of social housing repairs, maintenance and improvements to better meet the needs of social housing residents.” Professor Ekart will be joined by Dr Alina Patelli as academic supervisor. Dr Patelli brings experience of software development in the commercial sector as well as expertise in applying optimisation techniques with focus on urban systems. She said: “This is a great opportunity to enhance state-of-the-art optimisation and machine learning in order to fit the needs of the commercial sector and deliver meaningful impact to Thames Laboratories.”
Cyber threats have become one of the leading issues for corporations, governments, and public institutions across America. With ransomware attacks, hackers, and other nefarious threats, the issue is becoming a daily occurrence and leading news story. Rensselaer Polytechnic Institute’s James Hendler, director of the Future of Computing Institute, Tetherless World Professor of Computer, Web, and Cognitive Sciences, and director of the RPI-IBM Artificial Intelligence Research Collaboration, weighs in on what we should all know about cybersecurity. Overview Think about cybersecurity the way you think about home security – the more valuables you have, the more security you need. A normal user needs the equivalent of a lock on the door, which most of our computers provide out of the box. However, a user with a fair amount of personal information, who keeps financial records or runs a small business, probably wants a firewall or other additional protection. We used to tell people to protect their computers with firewalls, malware detectors, and the like, but now it is much more important to protect your web access, be wary of external sites, and keep your passwords secure and not easily guessed. Use of a password manager program can be really helpful for people who use a lot of different accounts. Threats The biggest threat facing individuals is identity theft caused by someone getting into an account that you don’t control. Most malware or password stealing comes via a phishing attack (a fake email that convinces you to click a bad link), so if you see an offer that looks too good to be true, don’t believe it. Never give out a password or personal information without confirming that it is legitimate. We also recommend not using major accounts (like Google, Facebook, etc.) to log in to new apps where you aren’t completely sure of the reliability – you’re safer if you use a separate password. It’s also worth noting that these kinds of attacks are now happening on cell phones – if you get a text saying your Amazon, Netflix, or other services have been shut off, be very careful. These companies almost never send out such messages, and if they do, they come via email, not text. For businesses, ransomware is becoming an increasing challenge. Frequent backups and dual authentication are absolute musts for small businesses. Large businesses, and especially those with cyber-physical connections such as a manufacturing device, must have someone on the team who understands internet technology. Outside audits done annually, at least, are also highly recommended. The biggest danger in cybersecurity is that people, especially in businesses, think that the software industry will fix things and that they don’t have to worry. That’s like expecting auto manufacturers to stop car theft, or the government to prevent all crime – these organizations certainly need to help, but they cannot be perfect. So while there definitely needs to be a role for manufacturers and government, people need to understand that the threats are now coming from social interactions such as phishing, or serious criminal enterprises such as ransomware attackers, and not just maladjusted teenagers. They must be ready to pay for some security if they have things on their network that need protection. The Cloud Cloud-based services are a major boon to cybersecurity for individuals and small businesses if, and only if, people protect their access. If a breach is reported to you by a company, don’t ignore it, change your password, and, whenever possible, use dual authentication. The cloud companies can afford to spend more on security than you can and thus your information stored in these services tends to be quite secure. However, people need to be careful in using the cloud. Just as you may trust a bank with your money, you want to be sure not to be robbed on your way there. Future Computing Systems and Cybersecurity New technologies, such as artificial intelligence (AI), are arising all the time in today’s fast-moving cyber world. As these technologies arise, they can create new opportunities for cybersecurity, but can also create new challenges. Cybercrime will never disappear, and each new capability comes with a price. Increased education and awareness of emerging computing technologies (blockchain, quantum, etc.) are important not just for the expert, but also for the general public. It is important to stay informed and pay attention to what is being reported. Just as buying a new appliance can be a great advantage at home (I love my new air-fryer), you also have to be sure to be using it appropriately (used wrong, it can cause fires). Looking to learn more or connect with an expert for your questions and coverage? James Hendler is the director of the Rensselaer Future of Computing Institute, Tetherless World Professor of Computer, Web, and Cognitive Sciences, and director of the RPI-IBM Artificial Intelligence Research Collaboration. Hendler has authored over 400 books, technical papers, and articles in the areas of Semantic Web, artificial intelligence, cybersecurity, and high-performance processing. Hendler is available to speak with media - simply click on his icon now to arrange an interview today.
