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Data science and its relationship to big data and data-driven decision-making – Times of India

Businesses in virtually every industry are focusing on data exploitation to gain a competitive edge, thanks to the volume of data presently available. It has become more difficult to analyse large amounts of data manually or even with standard databases. Because of advances in computing power and widespread use of networking, it is now possible to conduct research of unprecedented depth and breadth using algorithms that connect databases. As a result of the convergence of these phenomena, data science is currently being applied in an increasing number of commercial applications.

Data-driven decision making (DDD), refers to the process of making decisions based on data analysis rather than intuition. A marketer, for example, could choose advertisements solely based on their extensive knowledge of the industry, and their intuition for what will be successful. Alternatively, they could base their decision on the findings of a data analysis of how customers respond to various advertisements. They may also use a combination of the strategies. DDD is not an all-or-nothing strategy; rather, different companies engage in it to varying degrees and intensities.

There are essential principles that drive the methodical extraction of information and knowledge from data using data science techniques. Data mining is perhaps the most closely related concept to data science since it involves the actual extraction of information from data using technologies that adhere to these principles. There are hundreds of distinct data-mining algorithms and a large degree of methodological depth in the subject. However, a far smaller and more compact set of fundamental principles lies behind all these specifics.

Data science encompasses the principles, procedures, and methods for comprehending phenomena through (automated) data analysis. Recently, economist Erik Brynjolfsson and his colleagues from MIT and Penns Wharton School did a study on the impact of DDD on corporate performance. They established a DDD metric that grades companies based on the extent to which they use data to make company-wide decisions.

Data-driven companies are more productive, even when accounting for a wide range of potential confounding circumstances. This is demonstrated statistically. This is shown statistically. As a result, a single standard variation higher on the DDD index is linked to a 46 percent increase in productivity. Additionally, DDD relates to higher asset utilisation, market value, return on equity, and return on assets, and the relationship appears to be causative.

Data scientists have identified a set of core concepts governing the pragmatic extraction of knowledge from data in relation to big data and data-driven decision-making.

More time must be given to determine if data science will emerge as a subject because the veracity dimension, which may be closest to this goal in terms of relevance, is being overlooked. The necessity for data scientists has been recognised by businesses, which have understood that data can be utilised to aid in decision-making, particularly on a large scale where precision can make a company more competitive

There is abundant evidence that data-driven decision making, big data technologies, and data-science methodologies based on big data can substantially improve corporate performance. Data science facilitates data-driven decision making, and occasionally permits automatic decision-making at large scale, and is reliant on technology for big data storage and engineering. However, the data science principles are unique and must be studied and articulated clearly for data science to reach its full potential.

Views expressed above are the author's own.

END OF ARTICLE

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We need a new Prozac: The demand for brain drug innovation – The Pharma Letter

An Expert View from Emer Leahy, chief executive, and Dani Brunner, chief innovation officer, of PsychoGenics, on the challenges involved in tackling mental disorders.

One of the greatest burdens for society, affecting millions of people, is created by unmet mental health needs. Difficult-to-treat diseases such as bipolar disorder, depression, anxiety, and schizophrenia not only affect individuals,but also their families. According to recent statistics,

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user pleaselogin. If your trial has come to an end, you cansubscribe here.

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Powering Customer Experience Through Conversational AI, Analytics and Good Data – CMSWire

Delivering exceptional customer experiences that give consumers control comes down to the right tools and good data.

Customers today demand a personalized, seamless experience throughout their preferred channels and they want to control the narrative.

By using conversational artificial intelligence (AI) along with good data and analytics, brands can provide an exceptional customer experience based on the customers previous interactions and data from current sessions.

This article will look at the ways brands can create such an experience, along with the challenges that often come about during the process.

Conversational AI that uses natural language processing (NLP), automatic speech recognition, advanced dialog management, deep learning and machine learning (ML) is advanced enough that it's likely to pass the Turing Test. This test determines if a computer program can perform well enough to fool a human into thinking they are talking to another human. As such, conversational AI provides a much more realistic experience than traditional chatbots.

Evan Macmillan, CEO of Gridspace, a contact center automation platform, told CMSWire that conversational AI was not very conversational until recently, and that previously, brands had to program hard rules for every possible customer intent and response.

Today large, pre-trained language models cannot fully understand language, but they are extremely useful tools, said Macmillan. Instead of programming rules, brands can use these models to flexibly and accurately recognize meaning and converse in a more natural, less scripted way.

AI-driven chatbots can be predictive and personalized, with more complex, fluid responses that are similar to human decision-making. These AI bots have access to a customer's previous interactions, typically through customer relationship management (CRM) software, can observe user-specific traits (location, age, mood, gender), learn conversational styles from past interactions and even take actions using tools such as robotic process automation (RPA).

Whether or not conversational AI is right for a brand depends on each brands specific use cases. Conversational AI is just a tool, sometimes the right one and sometimes not, it all depends on the job to be done, said Macmillan.

Related Article:4 Ways Conversational AI Is Improving the Customer Experience

Customer trust in AI has been improving greatly over the past few years. A Capgemini report indicated that 54% of customers have daily AI-based interactions with brands, and 49% of those customers found their interactions with AI to be trustworthy.

The trust in AI isnt limited to customers either employees trust AI too. An Oracle and Future Workplace [emailprotected] report revealed that 64% of employees would trust an AI chatbot rather than their manager, and 50% have used an AI chatbot rather than going to their manager for advice.

It also appears the majority of people enjoy having conversations with AI chatbots 65% of employees surveyed said they are optimistic, excited and grateful about potentially having AI "co-workers" and almost 25% said they have a comfortable relationship with AI at their workplace.

When used appropriately, conversational AI can be an effective tool in a brands customer service toolbox. Customers want to be in control of their own narrative and prefer to solve their problems without having to speak to a live agent, provided that their issue is relatively minor.

Anthony Chavez, founder and CEO at Codelab303, a team of digital experience designers, engineers and producers, told CMSWire that conversational AI can be seen as a digital agent, a brand representative that is no less critical than a teammate working on-site in a brick-and-mortar location.

"Digital agents, albeit the meta equivalent of a teammate in a store, can also create hospitable, memorable and efficient interactions with guests and customers," he said.

Data can be bad if it is unstructured, inaccurate, inconsistent, incomplete or contains duplications. Because data comes from a myriad of sources some of which are siloed, while others are in different formats or databases and yet others are unformatted there is no consistency, and it must be brought together in a structured, consistent way to be useful.

Good data, within the context of conversational AI, means data that supports NLP, NLU (Natural Language Understanding) and ultimately intent identification that is to say, the machine needs to understand what the user is asking, and then provide a human-like answer that the user is looking for, explained Chavez.

To turn bad data into good data, it must be cleansed. Data cleansing is the process of fixing bad data in a data set, which involves identifying any errors and then updating, fixing or removing them, which improves the quality of said data.

Jory Hunga, business development manager at iPaydayLoans, an online payday loans provider, told CMSWire that most brands usually have a very large amount of customer data stored in their CRM systems, which is comprised of past interactions, transactions and chat and call session transcripts.

However, said Hunga, a huge amount of this data often comes in an unstructured format like verbatim comments that can often prove to be difficult for human agents to sift through for insight.

Through the use of conversational AI bots, brands are able to make use of advanced machine learning to quickly analyze their databases and find links between pieces of information much faster and more accurately than any human agent ever could.

Related Article:How to Prepare Data for Ingestion and Integration

Customer analytics begins with aggregating and unifying data from all possible sources, including websites, mobile apps, email, chat, social media, customer service tickets and in-store visits. Once brands unify and structure that data, they can use it to create a holistic 360-degree view of each customer.

Using analytics to determine whether a user finds the answer theyre seeking is the key to crafting the best experiences, said Chavez. The best sets of data for this purpose are a blend of quantitative metrics and qualitative metrics; after all, every user will have a unique fundamental opinion about having a conversation with a machine.

Companies can use customer analytics to create personalized customer experiences and assist with customer service inquiries. Real-time data can help funnel live inquiries to the most appropriate agents at the beginning of the interaction with the customer. By interpreting and analyzing this data, brands can make the next best decision in the customer journey.

Ben Hookway, CEO of UK-based Relative Insight, a text analysis software provider, told CMSWire that effective and efficient analytics are critical to ensure that brands are delivering experiences that consumers want.

"Conversational AI is a great leap forward but absolutely key to success is a willingness from businesses to leverage the untapped gold mine that is unstructured text data as a whole the likes of customer reviews, call transcripts and survey open ends, said Hookway, who added that its customer data that holds the answers to new engagement strategies.

With the ongoing and ever-increasing deprecation of third-party cookies, the effective use of first-party data is more important than ever.

To engage effectively with consumers in an increasingly competitive and noisy landscape, Hookway added, businesses need to look at the major repositories of data which they already have and which they are generating all the time.

Because third-party cookies will eventually be phased out, marketers are looking for innovative ways to understand their audiences, he explained. Theres no doubt that technology-driven analysis surrounding first-party data often in the form of conversations with your customers will be fundamental to future success.

Brands today want to stand out for the exceptional customer experiences they provide, so they must be able to monitor and improve experiences on a minute-to-minute basis. This real-time personalization creates an emotionally positive connection and shows the responsiveness of the brand.

That said, there are many challenges to creating such an experience, especially for companies using disparate technologies.

Tom Summerfield, retail director at Peak, a decision intelligence company, told CMSWire that hes seen a number of businesses that have been approaching these challenges by designing and procuring point solution tooling to enable scaled personalized messaging, i.e., content management systems, customer data platforms, apps, website search and merch toolings, etc.

All of these tools contribute to the modern customer stack, said Summerfield, but they arent integrated and they dont talk to each other. Theyre optimising channels in silos and, without a connected approach, risk enhancing one at the expense of another.

A much better solution for brands interested in creating a seamless experience is a connected approach to personalization. Thats achieved by adding an agile SaaS (software as a service) layer between incumbent backend systems of record and stacks of point solutions.

Increasingly, this is an AI/ML platform that can identify trends and add a layer of intelligence into those processes, explained Summerfield, who believes that this represents the future of CRM: a central, agile intelligence layer fueling automated segmentation and product recommendations via an application programming interface (API).

On the other hand, Hookway told CMSWire that brands can layer data and compare it, allowing them to get more value out of it and gain rounder and more accurate views of audiences.

Doing this successfully, however, is not easy. First up, he said, it calls for a rethinking of the labels of what is thought of as marketing data and what is customer experience data. It also requires a mindset change; a process of true collaboration with leadership ready to grasp and encourage the opportunities that effective data mining and analysis presents. We cant rely on any one tool to give us all the answers.

Given that there are multiple open-source and licensable tools for NLP, NLU and intent prediction that exist today, the technology has become the easy part, according to Chavez. Designing the experience, however, in a way that is differentiated and competitive, will always be a more nuanced and persistent challenge for businesses because, in essence, you are designing a brain.

Related Article:What's Next for Artificial Intelligence in Customer Experience?

Once marketers have cleansed, structured and optimized customer data, AI, ML and NLP can analyze and use it to enhance the customer experience.

Conversational AI enables brands to provide customers with digital agents that know their shopping, purchasing and service details, facilitating a personalized conversation while enabling live agents to handle more complex inquiries all while allowing customers to control their own narrative.

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Powering Customer Experience Through Conversational AI, Analytics and Good Data - CMSWire

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East Star Resources awarded three new licenses – Global Mining Review

Save to read list Published by Will Owen, Editor Global Mining Review, Monday, 15 August 2022 10:00

East Star Resources Plc has announced the award of three new licences comprising 55 blocks (1794-EL, 1795-EL, 1799-EL) on the Rudny Altai volcanogenic massive sulfide (VMS) belt in Kazakhstan.

Alex Walker, East Star CEO, comments:

The best place to find a new mine is around an existing one, so expanding our footprint to include more licences with historical mines is extremely exciting. The Pokrovskoye mine for example reportedly mined out in 1979 contained average grades of 11.5% copper, 3.3% lead, and 12% zinc. We dont believe these areas have been fully explored, especially considering changes in economic cut-off over the last 40 years and new geophysical methods such as downhole electromagnetics to explore for additional conductors which do not outcrop at surface. We are still collecting data on these areas, both in the field and via historical reports which, along with the processing of our HEM data, will dictate our exploration programme going forward.

We are grateful to the Akimat of Shemonaikha for their support of our applications and intended work plan, having received their required letters of support in just a matter of weeks after meeting with them.

Read the article online at: https://www.globalminingreview.com/mining/15082022/east-star-resources-awarded-three-new-licenses/

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Alkemy Capital Investments plc has announced that its wholly owned subsidiary, Tees Valley Lithium Ltd, has entered into a memorandum of understanding with Weardale Lithium Ltd to provide a secure and sustainable domestic supply of lithium in Weardale, County Durham.

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Pricemoov and Intelligence Node Team Up to Deliver Enhanced Price Optimization Powered by Real-time Competitive Market Data – Business Wire

SAN FRANCISCO--(BUSINESS WIRE)--Global Retail Data and Analytics leader, Intelligence Node, today announced a strategic partnership with Pricemoov, the cloud company that powers intelligent pricing decisions, to enable real-time pricing optimization informed by competitive price movements. With this partnership, retailers and brands are able to discover and rapidly act on competitive price movements in order to capture sales, margin and market share across the increasingly dynamic eCommerce landscape.

"We are thrilled to partner with Pricemoov to offer real-time optimization solutions for brands and retailers grappling with the need to continuously deliver transparent and dynamic pricing across their owned stores and marketplaces, said Sajeev Sularia, CEO of Intelligence Node.

Pricemoovs focus on powerful data science technology coupled with deep subject matter expertise in pricing has produced one of the most innovative pricing platforms that retailers and brands can implement to power digital commerce and unlock revenue potential. Intelligence Node will provide AI-driven competitive data feeds that will connect into Pricemoovs platform. Intelligence Node captures competitive data through an award-winning approach to data mining that leverages AI, computer vision and advanced rules to deliver product matches at 99% accuracy. The combined solution furthers the ability of brand and retail companies to dynamically deliver resonant prices to shoppers that factor in customized price logic by product and channel.

With the challenges of modern commerce, brands and retailers must keep up with an increasing number of products, channels and competitors. We are excited to partner with Intelligence Node to provide our customers with the most complete and accurate competitive insights and product matching capabilities to enable intelligent pricing decisions, said Pierre Hbrard, CEO at Pricemoov.

About Intelligence Node

Intelligence Nodes mission is to provide the most comprehensive data-rich eCommerce perspective of the consumer buying journey to retailers and brands so they can thrive in the age of digital commerce.

Intelligence Node is a real-time retail eCommerce intelligence platform that empowers businesses to drive product-level profitability and grow margins using data-driven competitive insights, AI-driven pricing, MAP monitoring and more. Intelligence Node has the worlds largest product and pricing dataset with unmatched accuracy, at 99%, which feeds the growth of more than $600 billion in retail revenue globally. Proprietary patented algorithms are delivered via SaaS portal, file feed, or APIs, providing rapid plug-and-play accessibility. Intelligence Node is used by global retailers and brands, including category leaders like Nestle, Lenovo, LIDL, Prada, LVMH, and many others. Learn more about the company at http://www.intelligencenode.com

About Pricemoov

Pricemoov is a global provider of next-generation price optimization and management solutions that help companies power digital commerce, adapt to market dynamics and empower sales teams. Featuring powerful data science, end-to-end automation and advanced pricing strategies, the cloud-native Pricemoov platform enables B2C and B2B enterprises to manage and optimize their prices across all channels with ease, and at scale. Leading companies worldwide trust Pricemoov to make the switch to intelligent pricing and unlock their revenue potential. Learn more about how Pricemoov powers intelligent pricing decisions at pricemoov.com

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Pricemoov and Intelligence Node Team Up to Deliver Enhanced Price Optimization Powered by Real-time Competitive Market Data - Business Wire

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How the US toppled the world’s most powerful gold trader – MINING.COM – MINING.com

The FBIs airport ambush described by Trunz was a crucial step in the pursuit by US prosecutors of JPMorgans precious metals desk, leading up to last weeks climax the conviction on 13 counts of the man who was once the most powerful figure in the gold market, the desks former global head Michael Nowak.

Watched with a mixture of fascination and horror by precious metals traders around the world, the case has shone a light on how JPMorgans traders including Nowak and the banks long-time lead gold trader Gregg Smith for years allegedly manipulated markets by placing bogus orders designed to wrongfoot other market participants, principally algorithmic traders whose high-speed activity became a major source of frustration.

Nowak has become one of the most senior bankers to be convicted in the US since the financial crisis, and faces the prospect of decades in prison, although it could be far less.

Nowaks lawyers contend Nowak wasnt a criminal mastermind and said they will continue to vindicate his rights in court. A lawyer for Smith said during closing arguments last month that his clients orders were legitimate, and there are other explanations to buy and sell futures contracts at the same time on behalf of customers.

It took three weeks in court for the government to persuade a jury of Nowak and Smiths guilt. (Jeffrey Ruffo, a salesman who was tried with them, was acquitted.)

But whispers of spoofing had hung over JPMorgans trading desk for at least a decade many years before the FBI first approached Trunz in 2018.

Alex Gerko, the head of an algorithmic trading firm, complained about Smiths activity in the gold market as early as 2012 to CME Group Inc., which owns the futures exchanges where the US alleged thousands of spoof trades took place. But Smith and Nowak continued working at the bank until 2019, when the US unsealed charges against them.

The wheels of justice are moving, slowly, Gerko tweeted last month.

At the Justice Department, the road to JPMorgan began with a decision to begin hunting down traders who made bogus offers to buy and sell commodities that they never intended to execute. The criminal fraud unit hired data consultants to go through billions of lines of trades to spot patterns of market manipulators.

As the vast quantities of data was scrutinized, there were certain traders that stood out. And they worked at JPMorgan.

With the data in hand, investigators went looking for cooperators, which they found in Trunz and his former colleague John Edmonds. Both relatively junior traders pleaded guilty to their own misconduct and agreed to testify against the desks boss.

Nowak was arrested in September 2019, sending a shock wave through the metals world, but the Covid pandemic meant it would be another three years until the trial finally took place.

In his testimony, Edmonds, whod started in an operations role at JPMorgan, described spoofing on the desk as a daily phenomenon and felt obliged to take part because it was part of the normal strategy.

The Justice Departments move against JPMorgans most senior bullion bankers was celebrated in some corners of the gold and silver markets, where investors and bloggers have long accused the bank of a large-scale scheme to manipulate prices lower. Those allegations prompted multiple investigations by the Commodity Futures Trading Commission, the most recent of which was closed in 2013 after finding no evidence of wrongdoing.

The case against Nowak and Smith made no allegations of a systematic plot to suppress prices, instead arguing that they spoofed markets over very short periods of time, and in both directions, to benefit JPMorgans most important hedge fund clients.

And while the convictions are a victory for the prosecutors, the jury rejected the governments most sweeping charges brought under the Racketeer Influenced and Corrupt Organizations Act, or RICO that the men were part of a conspiracy and that JPMorgans precious metals desk was a criminal enterprise.

At JPMorgan, Edmonds said the practice was referred to as clicking rather than spoofing, and the traders never discussed it as being illegal despite the firms own compliance policies making it plain. Trunz even spoke of a running joke involving Smith, who would click his mouse so fast to place and cancel orders that his colleagues would urge him to put ice on his fingers.

In 2012, Gerko, who is the founder of quantitative trading firm XTX Markets Ltd., complained to the CME about Smiths trading in gold futures by rapidly entering and canceling orders. The CME began an investigation, which dragged on for three years before concluding hed likely been spoofing.

It took a long time after 2010 to get consistent enforcement, Gerko said in a tweet, referring to the Dodd-Frank act in which spoofing was defined and made illegal.

After another JPMorgan trader, Michel Simonian, was fired in 2014 for spoofing, Nowak called his traders into his office to ask if theyd been doing the same, according to Edmonds. No one said anything. The incident shocked Edmonds, he said, as Nowak knew it had been going on for years.

During the trial, Nowak appeared largely impassive, his face hidden behind a Covid mask. Industry insiders described him in 2020 as introverted and brainy, and testimony during the trial painted him as a well-liked manager, who became friendly with Trunz while the two did a stint working out of JPMorgans London office.

During trial, Trunz was asked whether he liked Nowak, the former trader responded: I loved him.

However, the relationship became more complicated after Trunz was approached by authorities. When he contemplated making a deal with the government, Nowak told him not to, according to Trunz, who became audibly choked up as he gave the testimony.

Defense lawyers painted Trunz and Edmonds as unreliable proven liars who were testifying against their clients in order to avoid lengthy prison sentences.

Nowak and Smith wont be sentenced until next year. For comparison, two Deutsche Bank AG traders convicted of spoofing in 2020 were each sentenced to about a year in prison.

Last weeks conviction represents the pinnacle of the US Justice Departments crackdown on the illegal trading practice known as spoofing. So far, prosecutors have managed to convict ten traders at five different banks.

JPMorgan has already paid $920 million to settle spoofing allegations against it.

Even though the jury rejected the conspiracy and RICO charges, they will consider this a win, said Matthew Mazur, an attorney at Dechert LLP who defended one of the Deutsche Bank traders. This is probably the end of the precious metals sweep that was done, but I do think there will continue to be cases.

Even after the crackdown, some market participants say spoofing still takes place. Back when commodity futures traded in the pits, brokers had to trade face-to-face. Hiding behind a screen makes it much easier to place and pull orders at will.

We still see spoofing on a regular basis, said Eric Zuccarelli, an independent commodities trader who began working on the floor of the New York Mercantile Exchange in 1986. But back then if a person spoofed everybody would come over and punch you in the face and the floor committee would come over and fine you for being an asshole.

(By Eddie Spence, Joe Deaux and Tom Schoenberg, with assistance from Yvonne Yue Li)

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Virginiamycin Market Forecast Research Report 2022-2028: Who Will Survive the Next Industry Change | Hongcong Xinrunde Chemical Co., Ltd, Xiamen…

New Research Study Virginiamycin Market2022 analysis by Market Growth(Drivers, Constraints, Opportunities, Threats, Challenges andBusinessOpportunities), Size, Share and Outlook has been added to Coherent Market Insights. The study examines the worldwide Virginiamycin industry growth rate and market value in light of market dynamics and growth-inducing variables. The research covers every aspect of the industry, from regional development to prospective market growth rates. The research gives a complete assessment of the market, market size, geographical overview, and profit predictions for the industry. It includes revenue models, competitive spectra, and vendor strategies defined by significant vendors and industry participants.

The study focuses on the size of the Virginiamycin market, current trends and development status, investment possibilities, market dynamics (e.g., driving drivers, growth factors), and industry news (e.g. mergers, acquisitions and investments). Technological improvements and innovations will further enhance the products performance, allowing it to be employed in more downstream applications. Furthermore, Porters five force analyses (possible entrants, suppliers, substitutes, customers, and industry rivals) are useful in understand the Virginiamycin market.

Leading Virginiamycin Market Players are as followed:

Hongcong Xinrunde Chemical Co., Ltd, Xiamen ShengLang SaiChuang Biological Technology Co., Ltd., Manus Aktteva Biopharma, Alfanzyme, Phibro Animal Health Corporation, Merck Animal Health, Zoetis, Elanco, Virbac, Ceva, and Vetoquinol.

Market segmentation of Virginiamycin market:

Virginiamycin market is divided by type and application. For the period 2022-2028, cross-segment growth provides accurate calculations and forecasts of sales by Type and Application in terms of volume and value. This analysis can help you grow your business by targeting qualified niche markets.

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Regional Outlook:

The Asia Pacific, North America, Europe, Latin America, and the Rest of the World are examined in the geographical analysis of the worldwide Virginiamycin market. Because of its well-established Healthcare service providers and big consumer base, North America is the worlds leading/significant area in terms of market share. Over the projected period 2022-2028, Asia-Pacific is expected to have the greatest growth rate/CAGR.

Method of Research

The report provides first-hand information performed by key players using quantitative & qualitative assessment as per the parameters of the Porters Five Force Model. It throws light on the macro-economic indicators, parent market trends, and growth factors. Primary (surveys, interviews, and questionnaires) & secondary researches (SEC filings, white paper references, and published reports) have been carried out to provide a better understanding of the market. The data used in the report has passed multi-step verification to assure both the authenticity as well as the quality of the insight that is provided. Bottom-up & top-down approaches are also used for ensuring the credibility of the valuations and market segments.

The following are the study objectives for this report:

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Table of Contents with Major Points:

1. Executive Summary1.1. Market Snapshot1.2. Global & Segmental Market Estimates & Forecasts, 2022-2028 (USD Billion)1.2.1.Virginiamycin Market, by Region, 2022-2028 (USD Billion)1.2.2.Virginiamycin Market, by Type, 2022-2028 (USD Billion)1.2.3.Virginiamycin Market, by Application, 2022-2028 (USD Billion)1.2.4.Virginiamycin Market, by Verticles, 2022-2028 (USD Billion)1.3. Key Trends1.4. Estimation Methodology1.5. Research Assumption

2. GlobalVirginiamycin Market Definition and Scope2.1. Objective of the Study2.2. Market Definition & Scope2.2.1. Scope of the Study2.2.2. Industry Evolution2.3. Years Considered for the Study2.4. Currency Conversion Rates

3. GlobalVirginiamycin Market Dynamics3.1.Virginiamycin Market Impact Analysis (2022-2028)3.1.1. Market Drivers3.1.2. Market Challenges3.1.3. Market Opportunities

4. GlobalVirginiamycin Market Industry Analysis4.1. Porters 5 Force Model4.1.1. Bargaining Power of Suppliers4.1.2. Bargaining Power of Buyers4.1.3. Threat of New Entrants4.1.4. Threat of Substitutes4.1.5. Competitive Rivalry4.1.6. Futuristic Approach to Porters 5 Force Model (2022-2028)4.2. PEST Analysis4.2.1. Political4.2.2. Economical4.2.3. Social4.2.4. Technological4.3. Investment Adoption Model4.4. Analyst Recommendation & Conclusion

5. GlobalVirginiamycin Market, by Type5.1. Market Snapshot5.2. GlobalVirginiamycin Market by Type, Performance Potential Analysis5.3. GlobalVirginiamycin Market Estimates & Forecasts by Type 2022-2028 (USD Billion)5.4.Virginiamycin Market, Sub Segment Analysis

6. GlobalVirginiamycin Market, byApplication6.1. Market Snapshot6.2. GlobalVirginiamycin Market by Application, Performance Potential Analysis6.3. GlobalVirginiamycin Market Estimates & Forecasts by Application 2022-2028 (USD Billion)6.4.Virginiamycin Market, Sub Segment Analysis6.4.1. Others

7. GlobalVirginiamycin Market, byVerticles7.1. Market Snapshot7.2. GlobalVirginiamycin Market by Verticles, Performance Potential Analysis7.3. GlobalVirginiamycin Market Estimates & Forecasts by Verticles 2022-2028 (USD Billion)7.4.Virginiamycin Market, Sub Segment Analysis

8. GlobalVirginiamycin Market, Regional Analysis8.1.Virginiamycin Market, Regional Market Snapshot8.2. North AmericaVirginiamycin Market8.3. EuropeVirginiamycin Market Snapshot8.4. Asia-PacificVirginiamycin Market Snapshot8.5. Latin AmericaVirginiamycin Market Snapshot8.6. Rest of The WorldVirginiamycin Market

9. Competitive Intelligence9.1. Top Market Strategies9.2. Company Profiles9.2.1.Keyplayer19.2.1.1. Key InDurationation9.2.1.2. Overview9.2.1.3. Financial (Subject to Data Availability)9.2.1.4. Product Summary9.2.1.5. Recent Developments

10. Research Process10.1. Research Process10.1.1. Data Mining10.1.2. Analysis10.1.3. Market Estimation10.1.4. Validation10.1.5. Publishing10.2. Research Attributes

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Virginiamycin Market Forecast Research Report 2022-2028: Who Will Survive the Next Industry Change | Hongcong Xinrunde Chemical Co., Ltd, Xiamen...

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Artificial Intelligence and Inventorship: Federal Court of Appeals Determines That Patent Inventors Must Be Human – JD Supra

Inventions such as the wheel, the printing press, light bulb, telescope, microscope, transistor, microchip, and the Internet, are amazing in and of themselves. However, these, and thousands of other inventions have also provided an indispensable foundation, and a toolkit, for other, newer inventions, leading to a pace of innovative progress unlike anything seen before. For example, the microchip, leading to the computer, has helped humans conceive of and find new inventions by helping them process information more efficiently. But the computer, until recently, has only helped to solve inventive problems framed by humans and arrive at solutions that are, in some sense, only anticipated by humans. Until now, prior inventions have only provided assistance to the inventive activity of human beings; historically, the human mind has ultimately been the source of invention.

That paradigm, however, is changing. Recent advances in computer technology, as well as the exponential growth in available data, are leading to the advent of artificial intelligence and machine learning. Some have said that most of the data ever created has been created in the last several years. What we call artificial intelligence represents a massive increase in the power of computer problem solving that has been enabled by massive amounts of new data. Data is like fuel the more data available to computer algorithms, the more powerful those algorithms become in operations that approach machine learning. And, with this new power, machines are becoming increasingly able to formulate problems and imagine (i.e., invent) solutions in ways that were previously reserved for human beings.

The possibility that a machine can be an inventor raises interesting questions for how we think about incentivizing inventorship and the kinds of monopolistic protection we afford to inventions in the future. Patent law is the body of law that deals with, and specifically, provides certain protections for, inventions. The concept of inventorship is core to patent law, and, with the change in the inventorship paradigm noted above, the question naturally arises who, or what, under the law can be an inventor? Can a machine be an inventor? More specifically, can artificial intelligence software be listed as an inventor on a patent application? This is the question that was recently addressed by the United States Court of Appeals for the Federal Circuit on Aug. 5.

In Thaler v. Vidal, the Appellate Court held that an inventor must be a naturalized person. Put another way, only human beings can be inventors. This case arose when Thaler tried to acquire patents for inventions developed by his Creativity machine known as DABUS. The United States Patent and Trademark Office (USPTO) denied Thalers applications, claiming that there must be a human inventor. Similarly, patent courts in the European Union, the UK, and Australia, all ruled against Thaler. Only South Africa allowed for an artificial intelligence inventor and granted Thaler a patent.

Here, in the United States, Thaler appealed the USPTO decision to the US District Court before appealing to the Appellate court. Both the District Court and the Appellate Court made the same conclusion that non-human entities cannot be inventors. No other American courts have addressed this issue, and unless the United States Supreme Court has an opportunity to consider the issue (in Thalers case or in a future case), the Federal Circuit Court of Appeals is the final authority on patent matters.

In its analysis of the issue, the Court of Appeals declined to engage in an analysis of the nature of an invention or the rights that might be attributed to artificial intelligence. Instead, the court left these issues open in favor of the safer, if perhaps no less controversial, practice of statutory interpretation. The Patent Act states that an inventor is the individual, or, if a joint invention, the individuals collectively who invented or discovered the subject matter of the invention. Because the patent statute does not define individual, the appellate court instead relied upon a previous United States Supreme Court case, Mohamad v. Palestinian Authority, in which the Supreme Court held that the word ordinarily refers to a human entity. Thus, the Appellate Court ultimately held that the term individual in the Patent Act refers only to natural persons and that artificial intelligence does not count as an inventor on a patentable invention.

The Mohamad case dealt with the application of the word individual as it pertains to the Torture Victim Protection Act of 1991 (the VPA). It is also worth emphasizing that in Mohamad, the Supreme Court held only that the term individual ordinarily means [a] human being, a person, and that its holding with regard to the VPA does not mean that the word individual invariably means natural person. Furthermore, the Supreme Court opinion dealt with whether a corporate or governmental agency could be considered an individual, and did not address the applicability of the word to a singular, individual, artificial intelligence.

The Appellate Court buttressed its decision denying the title of inventor to artificial intelligence by noting that nothing in the law shows or implies that the legislature intended the word individual to mean anything other than a natural person. The Court pointed to the fact that the Patent Act uses pronouns such as himself or herself when referring to inventors, indicating that congress did not intend to allow non-human inventors. The act does not use itself, which is the term that the court reasons Congress would have used if it intended to permit non-human inventors.

However, these are not the only ways in which the legislature could have illustrated an intent that the term individual be interpreted broadly. Indeed, as Thaler argued before the court, limiting innovation to natural persons is contrary to the general policy behind the Patent Act, namely to encourage innovation and public disclosure. As already stated, artificial intelligence could facilitate innovation at a rate and efficiency previously unseen. By limiting patent protections to inventions created purely by a human mind, the Appellate Court removes much of the incentive to utilize what promises to be the most powerful innovative tool in our toolbox. However, the court rejected this argument, and briefly categorized it as speculative, before referring again to its textualist approach.

Because the court relied on this textualist approach and did not consider the nature of inventorship, several questions remain to be answered. For example, because Thaler actually listed DARBUS as the inventor, Thaler presented no fact question regarding inventorship; he was simply asking the Court to determine that DARBUS could be an inventor. The Court expressly acknowledges this point: We are not confronted today with the question of whether inventions made by human beings with the assistance of AI are eligible for patent protection. So where, exactly, does the involvement of artificial intelligence in the inventorship process cross the line into an inventive activity that deprives the invention of patentability? How will companies navigate that line and structure their R&D to optimize the benefits of massive computing power and the potential for patent protection?

Additionally, Patents can only be granted if the invention is new and non-obvious. With the advent of powerful computers that can anticipate many inventions of which a human is capable, will those innovations, when eventually created by a human being, be determined to lack novelty and non-obviousness on the grounds that artificial intelligence as already thought of it? Will we reach a point in which artificial intelligence preempts the ability of a natural person to acquire a patent when that person eventually comes up with the invention on his own? And if that is the case, what effect will that have on the ultimate incentives for innovation generally?

Thaler plans to appeal to the US Supreme Court and argues that the Federal Circuit adopted a narrow and textualist approach that ignores the purpose of the Patent Act with real negative social consequences. Apart from any possible future action by the Supreme Court, further legislation is always possible after lawmakers, policymakers, think tanks, and academics have had the opportunity to re-evaluate existing law and its impact on innovation in light of growing experience with AI and emerging technologies. The Department of Commerce, which houses the USPTO, will no doubt continue to monitor this issue very closely and issue periodic reports. For further exploration of issues related to inventorship as related to artificial intelligence, see the USPTOs report here; and see generally, the USPTOs AI website.

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Artificial Intelligence and Inventorship: Federal Court of Appeals Determines That Patent Inventors Must Be Human - JD Supra

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Artificial intelligence is growing rapidly in China, but there are still wide gaps in industrial application – SupChina

Artificial intelligence is growing rapidly in China, but there are still wide gaps in industrial application SupChina Skip to the content

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Artificial intelligence is growing rapidly in China, but there are still wide gaps in industrial application - SupChina

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Artificial Intelligence in Maritime – a learning curve helping you get the competitive edge. – All About Shipping – All About Shipping –

Artificial Intelligence (AI) is a critical technology for giving maritime companies a performance edge, but how can it be used to get ahead of the market? And how can AI accelerate digital transformation and meet the challenges of the upcoming energy transition?

Lloyds Registers new report, Artificial Intelligence in Maritime a learning curve, explores the current state of AI in the maritime industry, including market sizing and use cases, and explains how AI has the potential to revolutionise maritime operations and create significant competitive advantages for those companies that embrace it.

Written by maritime innovation consultancy Thetius, the report looks at how integration of AI in autonomous shipping, safety and navigational support systems, and vessel optimisation solutions will deliver immense value to users when implemented properly and efficiently.

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Artificial Intelligence in Maritime - a learning curve helping you get the competitive edge. - All About Shipping - All About Shipping -

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