5th U. N. Small, Medium Sized Enterprises Day.

One of the most important uses of entrepreneurship is raising-up underdeveloped economies which, in turn, creates jobs, raise standards of living, and improve sustainability.  The latter is a major objective of  the United Nations 2030 Sustainable Development Agenda for 17 interlinked global goals designed to be a “blueprint to achieve a better and more sustainable future for all”.  Among them are health, education, zero poverty and hunger, climate change and decent work and economic growth.   It is because the U. N. sees the latter, work and economic growth, as springboard to all other SDGs that entrepreneurship has reached a focus of importance.  As a consequence, five years ago a global small and medium-sized enterprise day was created.  Entrepreneurship’s own  International Council for Small Business (ICSB) has partnered with the U. N. to help promote entrepreneurship in furtherance of economic growth.

ICSB is the primary international entrepreneurship organization in the U. S., and its current President Ayman El Tarabishy from George Washington University was chiefly responsible for the day’s planning and execution for which we all owe a debt of gratitude.  Each year’s event corresponds with release ICSB’s Annual Global Micro-Small and Medium-Sized Enterprises Report full of important data.  Among topics are Top Ten Trends for 2022, How Digitalization Produces SME Growth, the arrival of an entrepreneurial revolution, and use of entrepreneurship ecosystems to catalyze ethical technology.   Those and other topics are inside the 110-page report available in PDF format and summarized here:  https://icsb.org/toptrends2022/.

The world is in a state of uncertainty with new Covid-19 variants and their effects on businesses and governments around the world. Resilience has been the most popular theme for 2021.  Nevertheless, MSMEs and other forms of sustainable, humane entrepreneurship provide the best framework for recovery.  They are, after all, the most flexible and the most in touch with their local communities which allows them to use innovation to expand what a recovery might look like.  Change in the role of the women entrepreneur, decentralized finance enabling more SMEs, application of A. I. (artificial intelligence) on top of digital marketing, and Solopreneurs are among examples.

By editor Clint Day who watched proceedings on U. N. TV.

 

The Importance of Woo-Woo to Entrepreneurship.

Kat Norton explains the Woo-Woo that powers entrepreneurship.  Catch ahold of it, and you can write your own future.  For years there has been an effort to link some kind of spirituality and subconscious thinking to success in entrepreneurship.  Kyle Garman came close in his book on The Entrepreneurial Mindset, but even it was on the conscious mind.  This gal Kat Norton has hit the nail on the head, linking success to re-programming her subconscious!. She is featured in this month’s Entrepreneur Magazine, and we quote  some of the interview.

Why is she suddenly famous?  Tik-Toc of course.  In her corporate past she used Excel worksheets to analyze corporate operations.  She was good at it, but employed by a consulting firm, was too scared to answer questions in meetings although she knew the answers.  In just two years she is alone at the Top 40 hip-hop Tic-Toc tracks while performing Excel functions.  She did was she was good at and had a passion for, but the explanation for her spectacular success is something core to entrepreneurship but rarely used.  Once mastered her techniques can help every entrepreneur become successful in work and life.

It’s Woo-Woo, my term adopted from the article.  At it basics, it asks you to change your energy transmission.  Science has proven we all emit energy, and we all have known or experience friends and co-workers with less and then excessive energy (think Energy Rabbit).  Entrepreneurs are drawn to magical thinking, best expressed for years as the entrepreneurial mindset, to see opportunity when other can’t and to be willing to take a calculated risk.  What Kat Norton did was read all she could after finding the Breaking the Habit book about being yourself by Joe Dispenza which argues your thoughts have consequence so they create your reality.  She bought the concept hook, line, and sinker.

Kat first used what she knew, Excel.  As she learned this method to “rewire her brain” to a higher energy field, she started a coaching business online for using Excel under the name Miss Excel. It morphed into a big following on Tic-Toc and Instagram to the point that just two years later at age 29, Kat to making…stand by…$100,00 per day from Excel webinars and platform advertisers.  The explanation is this Woo-Woo aspect of entrepreneurship which she used to completely transform her introverted personality in an outgoing, highly energized and positive person.  Studies have shown entrepreneurs are drawn to a higher level of thinking vs. the general population.  She is now convinced this Woo-Woo of a higher energy field has transformed her persona to a smiling, confident and rich young lady.

Are you interested in following suit?  The idea to put out positive, high energy that comes back compounded. If you project positive energy, people are attracted to it, you act more confident, stand taller, and smile wider.  Kat says if you put yourself into this higher level of energy, you become aligned where thoughts and actions are one.  She truly believes her success in Excel webinars on social media are because of “this high vibrational state”.  An expert in hypnosis, Lacy Phillips, writes one has to rewire their brain chemistry, “one should get all the visions of what they like, things that happened during your childhood.  And, as they come up you realize [there could have been another way to use your subconscious positively].”

Your editor knows there is a place for positive motivation in entrepreneurship.  As younger people and students see their vision, gain confidence, hone their personal human relations skills, and align their passion subconsciously to their goals they become another person and begin to live the life of an entrepreneur.  $100,000 per day at age 29 makes her system worth a try!

https://www.entrepreneur.com/article/423417

Written by Current blog editor Clint Day partially paraphrasing Entrepreneurs Magazine’s article by Paul Six in its April-May issue, page. 42-47.  I have used Kat’s technique in my early  startups and been surprised by what became reality.  This process is not Woo-Woo.

 

 

Be a Clydesdale Not a Thoroughbred.

“Entrepreneurs Aren’t All Unicorns – Some Are Clydesdales” suggests that there are various models of entrepreneurship. The author, Dr. Kasie Whitener, states that “…we have somehow hijacked the word ‘entrepreneur’ in the startup space. The startup ecosystem is often a short game fueled by venture capitalists looking to make money by betting on the right horse. The startup story has become one of speed, innovation, and serial founders. I submit that is not the only model of entrepreneurship.”

Entrepreneurship is not always about a billion or even a multi-million dollar exit.  Sometimes is is just about finding work to support your family, i.e. building something sustainable. As the authors states, “It’s slow and it’s purposeful and it’s not as sexy as the-next-big-thing. But it’s entrepreneurship. And we could use more of it.”

Courtesy of the Carlsen Center for Entrepreneurship, CSSU Sacramento

Note from Editor – My experience as a serial entrepreneur and decade teaching startups, I could not find a better description of the process.  Clydesdales can be sexy.

2022 Deshpande Entrepreneurship Symposium

The Deshpande Symposium is an annual gathering of like-minded professionals focused on accelerating innovation and entrepreneurship within higher education institutions and through partnerships with private, public and non-profit organizations. All were excited to gather in person  this year in Cleveland, where best practices were shared and learned for developing entrepreneurial ecosystems, and the importance that diversity, equity and inclusion to their success.

Philip Gaskin, VP of Entrepreneurship for the Kauffman Foundation, and Renu Khator, President of the University of Houston and a true example of crashing the glass ceiling, were featured as Keynote Speakers.  Anyone that has tried to shift university culture to integrate innovation and entrepreneurship recognizes it can be a daunting challenge, with a strongly entrenched culture, both immediate in the university but more broadly in the “academy” -the broader academic ecosystems of faculty and students.  The Deshpande Symposium is to the culture shift a source of ideas, a chance to share best practices, and a chance to reflect on initiative that did work or didn’t work.  It has become an important niche in the pantheon of university-related conferences as the “symposium of practice”
This year contributed to the sharing of best practices by hosting two plenaries, one on HBCUs (Historically Black College and Universities) as Entrepreneurial Change Agents, and another on the organizational makeup and innovative activities implemented by creative Renu Khator, Chancellor of the entire University of Houston system. The former’s panel included Bowie State’s innovation center director Johnetta Hardy, Morehouse C-Center director Dr. Tiffany Bussey, and Fayetteville State’s Director of Innovation & Entrepreneurship Carolin Glackin.  Each contributed to the evolving growth of HBCUs to the field of entrepreneurship.  Chancellor Khator’s theme “Dare to Ask, Dare to Act” governs her leadership.  During her tenure she has changed education by doubling graduation rates, added micro-credentialing to workforce development, and started after school K12 mentoring.  Dr. Khator has impacted health care in the Houston community through university backed underprivileged community clinics, and been a prime mover in social entrepreneurship through the Wolff Center, rated the no. 1 in the U. S. by the Princeton Review.  The latter is a immersive program of 1,000 businesses and 500 community mentors, and a boot camp which has trained 350 students.

As they say, save the best for last.  Venture Well (VW) sponsored the closing plenary which Phil Weilerstein (VW CEO) hosted virtually by interviewing the NSF (National Science Foundation) Assistant Director and new TIP (technology, innovation and partnerships) chief Erwin Gianchandani. This insightful, gifted public servant outlined advancements in emerging tech.  Among other TIP initiatives are new regional,” innovation engines” that will greatly expand the opportunity for grant projects.  It invites proposals to develop coalitions of academic institutions, nonprofits, for-profits, government entities and others to create innovation ecosystems “galvanizing use-inspired research, technology translation and workforce development”.  Here is the link more information the NSF Engines:

https://beta.nsf.gov/funding/opportunities/nsf-regional-innovation-engines-nsf-engines-program

Written by Editor Clinton Day who attended virtually (a first year option)

 

The $95 Billion Unicorn, The Collison Brothers’ Stripe.

Billionaire brothers John and Patrick Collison built Stripe into one of the world’s most-hyped, highest valued — and profitable! — startups, worth some $95 billion. Now they must stave off going from disruptor to disrupted.

It’s just before five o’clock, and Stripe cofounder John Collison is preparing to address his hundreds of Ireland-based employees on the top floor of his headquarters in Dublin’s “Silicon Docks” District.  Such regular Friday town halls, which are also simulcast to New York, San Francisco, Singapore and anywhere else its 7,000 employees want to tune in from over Zoom, are an almost sacred tradition at Stripe, the payments company that Collison cofounded with big brother Patrick in 2010. With Patrick away getting married, it’s up to John, 31 and with a dusting of gray hair now topping his boyish face, to field questions.

It could get contentious: There’s a social media “kerfuffle” playing out over Twitter this week: Stripe has been accused in a series of (since deleted) tweets by Zachary Perret, the billionaire cofounder of fellow fintech unicorn Plaid, of meeting with his company under false pretenses only to build a competing software tool.

Patrick, Stripe’s 33-year-old CEO, has interrupted his honeymoon to write a memo to the entire company (later shared publicly) warning that such scrutiny—and uncharitable interpretations of Stripe’s motives—will only increase over time. John, Stripe’s president, is prepared for the worst. But the staff question, when it comes, is just about a name. Is calling a new product Financial Connections a sign that Stripe is moving toward more boring monikers from now on? It’s a serious question. Artful names like Atlas (software to help with company formation) and Radar (fraud detection) sound better, John admits. But they’re terrible for search engine rankings. In the end, no one asks about the Twitter dustup. (Plaid declined to comment.)

“We will compete with a bunch of companies, and we’ll partner with a bunch,” John says with a shrug. “Everyone just needs to be a grownup and well-behaved about it.”

Even so, such “front page tests” of Stripe’s ethical reputation, as Patrick calls incidents that have the potential to bubble up in the popular press, will only prove more common as Stripe transitions from startup darling to tech dreadnought. The company, dual-headquartered in San Francisco and Dublin, processed $640 billion in payments last year across 50 countries. Its gross revenue, still mostly the 2% to 3% it collects on such volume, reached nearly $12 billion in 2021, according to sources with knowledge of its financials, up about 60% year over year. Net revenue, which excludes the cut Stripe passes along to partners like Visa and Chase, reached nearly $2.5 billion. And, unusually for a unicorn that’s still growing fast, Stripe finished the year with hundreds of millions in profit on an Ebitda basis, two sources add. Stripe declined to comment on its figures.

Its eye-popping financials explain why investors including Fidelity and Ireland’s sovereign development fund poured an additional $600 million into Stripe in March 2021, raising its total funding to date to $2.4 billion and valuing it at $95 billion. That puts Stripe behind only TikTok owner Bytedance, Chinese e-commerce juggernaut Shein and Elon Musk’s SpaceX for the title of the world’s most valuable startup. (Forbes estimates Patrick and John Collison each own about 10% of Stripe, making them worth $9.5 billion each.)

Courtesy Forbes by Alex Konrad, May 26, 2022

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Entrepreneurship Alive & Well in Latin America

 

From Mexico to Argentina and points in between, Latin America’s major cities have emerged as some of the world’s most vibrant centers for entrepreneurship. Region-wide, there are at least two dozen unicorns in industries ranging from on-demand deliveries to digital payments. Startups have sprung up everywhere to fill the void of access to services such as credit, health care and education. Yet millions upon millions of people, especially women, remain unserved. Where can technology break down barriers further? Who’s going to bankroll the next wave of innovation? At the Bloomberg New Economy Gateway Latin America, Angélica Fuentes, Founder and President, Muvop; Mate Pencz, Founder and Co-CEO, Loft; Sumita Pandit, Chief Operating Officer, dLocal, speak with Carol Massar, Anchor, “Bloomberg Businessweek”, Bloomberg Television and Radio

Entrepreneurship is the trend in Latin America


What does it take to become a Latin American Mark Zuckerberg, or even just someone who makes a living running a business out of his living room?

The motivation to become an entrepreneur is not always money. Whether it is through programs to attract entrepreneurs –such as Start-Up Chile in the so-called Chilecon Valley-, or through training to develop a business model, or even some simple but timely advice, any incentive serves to transform big ideas into lucrative businesses.

Youth opt to become entrepreneurs for a variety of reasons. According to the Global Entrepreneurship Monitor, nearly two of every three Latin American entrepreneurs are driven by opportunity rather than necessity.

The Latin American and Caribbean region has become a breeding ground for new businesses led by young people. It is now the second most enterprising region in the world.

Four of every 10 Latin American youth report a desire to become an entrepreneur, but not all of them take that first step.

https://www.worldbank.org/en/news/feature/2015/09/30/emprender-esta-de-moda-en-america-latinahttps://www.worldbank.org/en/news/feature/2015/09/30/emprender-esta-de-moda-en-america-latina

IMPORTANCE  –  The editor’s two Bar Charts, Entrepreneurship Quick Study Guide (general principles) and the newer Lean Entrepreneurship Guide (14 evidenced-based methods) are now translated into Spanish.  We only wait for a distributor to add a heading and a footing to publish.

Two charts shown in the Amazon Entrepreneurship Power Pack – https://www.amazon.com/Entrepreneurship-Power-Pack-Everything-Entrepreneur/dp/1631835653

The Future of Work, Empower Workers to Master New Technologies

Guided by a new social contract, here’s how you can develop working models that deliver for your shareholders, employees, and global communities.

Digital transformation. Automation. Globalization. A persistent productivity-wage gap — and the anger and activism it can engender in the workforce.  Those are just a few of the headwinds buffeting business leaders as they try to set a course for the work of the future. And that’s before accounting for pandemic- related shocks like supply chain disruptions, inflation, and the changing norms around hybrid work and geolocation.

Business leaders “need to build strong companies and good jobs in a globally competitive economy where technology is advancing, with the social diversity we find in our world.” That’s how MIT Sloan professor of management Thomas Kochan introduces his online executive education course, “Leading the Future of Work.”

Across industries, workers are worried that automation and artificial intelligence will steal their jobs, said Kochan, a member of the MIT Task Force on Work of the Future. Kochan shares those concerns, but also sees “tremendous” innovative potential in new technologies.  “We believe that we can harness advancing technologies to create a productive and more equitable future,” he said

In the U.S., nine out of 10 people born between the 1940s achieved a higher income and a higher standard of living than their parents. In contrast, only half of people born after 1980 have been able to achieve a standard of living that’s higher than what they grew up with.  Globalization, the presence of the “informal economy” of jobs without a social safety net, and the decline of union membership has led to “an imbalance of power at work that needs to be addressed,” Kochan said.

Courtesy of the MIT Sloan School of Management, below we offer the PDF from the series “Why Ideas Matter”, containing “Why Leadership is the Future of Management” by Meredith Somers, “Five Traits of the Workforce of the Future” by Kara Baskin., and “What ‘Work of the Future’ means to Five Business Leaders” by Sara Brown.
Guided by a news social contract, here’s how you can develop working models that deliver for your shareholders, employees, and global communities.
For many leaders, work of the future means integrating data and AI programs, honing empathy skills, and meeting worker’s wants and needs.

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Florida Venture Emerging Tech Award Winners


Exploration Park, Miami, and Tampa, Fla. (May 20, 2022) – 
Space Florida and the Florida Venture Forum, Florida’s largest statewide support organization for investors and entrepreneurs, are pleased to announce the award winners at the 2022 EmergingTech Showcase, held May 20 in Lake Nona. A panel of judges evaluated each eligible company’s presentation and supporting materials. Third place winner Brick Street Farms will take home $10,000 of Space Florida’s Accelerating Innovation (AI) Award. Second place winner Helicon will receive $20,000. First runner-up Kalogon will receive $30,000. Grand Prize Winner Hardee Nutritional, will receive $40,000.

Hardee Nutritional, Lake Delton, Wisconsin, will grow and extract value-added ingredients from two types of algae in Hardee County FL, specifically: Haematococcus pluvialis (aka Hp), a source of natural astaxanthin and its co-product defatted algal meal; and Spirulina, known for its complete protein content and as a source of natural blue food colourings. These algae/products have been validated in the marketplace and represent more-than $1 billion in annual global sales.  Helicon, Orlando, Florida, makes the most advanced propellant in the world. They are working with more than 70 percent of the rocket industry today to increase rocket performance by 20-40 percent. The DoD has endorsed them and has place to scale up production 100X this year.

Kalogon, Melbourne, Florida, has tested and proven their market-ready solution to pressure injuries – Smart Seating. Their smart cushions dynamically adjust the pressure distribution of the user and intelligently change their algorithms to suit the needs of the patient. Their product allows for easy software customization to offload locations of concern and has been designed to prevent pressure injuries and help heal existing injuries. This allows their users to sit for longer, without pain, and reduce the risk of developing life-threatening injuries.

The Florida Venture Forum is Florida’s largest statewide support organization for investors and entrepreneurs, helping fast-growth companies connect with sources of capital from across the country. Since 1984 more than 1500 companies have presented at Forum events and have gone on to raise upwards of $11B in equity capital, producing billions more in economic value to Florida. The Forum’s 250+ members represent a “who’s who” of venture capital and private equity dealmakers, including equity and debt investors at all stages, as well as major law, accounting, and investment banking firms, and large corporates active in the innovation ecosystem. The Forum provides programs and programming statewide throughout the year in addition to hosting major annual conferences like the Florida Venture Capital Conference, the Statewide Collegiate Startup Competition, the Early Stage Capital Conference, and industry-focused events including aerospace and healthcare. For more information, visit: http://www.flventure.org.

Courtesy Space Florida, Florida Venture Forum Press Release 5/20/2022

Artificial Intelligence and Machine Learning – Explained.

Courtesy of Steve Blank (Godfather of Lean Startup, Mentor to your editor and designer of Customer Development evidenced-based entrepreneurship).  

Hundreds of billions in public and private capital is being invested in Artificial Intelligence (AI) and Machine Learning companies. The number of patents filed in 2021 is more than 30 times higher than in 2015 as companies and countries across the world have realized that AI and Machine Learning will be a major disruptor and potentially change the balance of military power.

Until recently, the hype exceeded reality. Today, however, advances in AI in several important areas (here, here, here, here and here) equal and even surpass human capabilities.  If you haven’t paid attention, now’s the time.

Artificial Intelligence and the Department of Defense (DoD)
The Department of Defense has thought that Artificial Intelligence is such a foundational set of technologies that they started a dedicated organization- the JAIC – to enable and implement artificial intelligence across the Department. They provide the infrastructure, tools, and technical expertise for DoD users to successfully build and deploy their AI-accelerated projects.

We’re in the Middle of a Revolution
Imagine it’s 1950, and you’re a visitor who traveled back in time from today. Your job is to explain the impact computers will have on business, defense and society to people who are using manual calculators and slide rules. You succeed in convincing one company and a government to adopt computers and learn to code much faster than their competitors /adversaries. And they figure out how they could digitally enable their business – supply chain, customer interactions, etc. Think about the competitive edge they’d have by today in business or as a nation. They’d steamroll everyone.

That’s where we are today with Artificial Intelligence and Machine Learning. These technologies will transform businesses and government agencies. Today, 100s of billions of dollars in private capital have been invested in 1,000s of AI startups. The U.S. Department of Defense has created a dedicated organization to ensure its deployment.

But What Is It?
Compared to the classic computing we’ve had for the last 75 years, AI has led to new types of applications, e.g. facial recognition; new types of algorithms, e.g. machine learning; new types of computer architectures, e.g. neural nets; new hardware, e.g. GPUs; new types of software developers, e.g. data scientists; all under the overarching theme of artificial intelligence. The sum of these feels like buzzword bingo. But they herald a sea change in what computers are capable of doing, how they do it, and what hardware and software is needed to do it.  This brief will attempt to describe all of it.

New Words to Define Old Things
One of the reasons the world of AI/ML is confusing is that it’s created its own language and vocabulary. It uses new words to define programming steps, job descriptions, development tools, etc. But once you understand how the new world maps onto the classic computing world, it starts to make sense. So first a short list of some key definitions.

AI/ML – a shorthand for Artificial Intelligence/Machine Learning

Artificial Intelligence (AI) – a catchall term used to describe “Intelligent machines” which can solve problems, make/suggest decisions and perform tasks that have traditionally required humans to do. AI is not a single thing, but a constellation of different technologies.

Machine Learning (ML) – a subfield of artificial intelligence. Humans combine data with algorithms (see here for a list) to train a model using that data. This trained model can then make predications on new data (is this picture a cat, a dog or a person?) or decision-making processes (like understanding text and images) without being explicitly programmed to do so.

Machine learning algorithms – computer programs that adjust themselves to perform better as they are exposed to more data. The “learning” part of machine learning means these programs change how they process data over time. In other words, a machine-learning algorithm can adjust its own settings, given feedback on its previous performance in making predictions about a collection of data (images, text, etc.).

Deep Learning/Neural Nets – a subfield of machine learning. Neural networks make up the backbone of deep learning. (The “deep” in deep learning refers to the depth of layers in a neural network.) Neural nets are effective at a variety of tasks (e.g., image classification, speech recognition).rning neural net algorithm is given massive volumes of data, and a task to perform – such as classification. The resulting model is capable of solving complex tasks such as recognizing objects within an image and translating speech in real time. In reality, the neural net is a logical concept that gets mapped onto a physical set of specialized processors. See here.)

Data Science – a new field of computer science. Broadly it encompasses data systems and processes aimed at maintaining data sets and deriving meaning out of them. In the context of AI, it’s the practice of people who are doing machine learning.

Data Scientists – responsible for extracting insights that help businesses make decisions. They explore and analyze data using machine learning platforms to create models about customers, processes, risks, or whatever they’re trying to predict.

What’s Different? Why is Machine Learning Possible Now?
To understand why AI/Machine Learning can do these things, let’s compare them to computers before AI came on the scene. (Warning – simplified examples below.).

Machine Learning

In contrast to programming on classic computing with fixed rules, machine learning is just like it sounds – we can train/teach a computer to “learn by example” by feeding it lots and lots of examples. (For images a rule of thumb is that a machine learning algorithm needs at least 5,000 labeled examples of each category in order to produce an AI model with decent performance.) Once it is trained, the computer runs on its own and can make predictions and/or complex decisions.

Just as traditional programming has three steps – first coding a program, next compiling it and then running it – machine learning also has three steps: training (teaching), pruning and inference (predicting by itself.)

Machine Learning – Training
Unlike programing classic computers with explicit rules, training is the process of “teaching” a computer to perform a task e.g. recognize faces, signals, understand text, etc. (Now you know why you’re asked to click on images of traffic lights, cross walks, stop signs, and buses or type the text of scanned image in ReCaptcha.) Humans provide massive volumes of “training data” (the more data, the better the model’s performance) and select the appropriate algorithm to find the best optimized outcome. (See the detailed “machine learning pipeline” section for the gory details.)

What Does this Mean for Businesses?

Hang on to your seat. We’re just at the beginning of the revolution. The next phase of AI, powered by ever increasing powerful AI hardware and cloud clusters, will combine some of these basic algorithms into applications that do things no human can. It will transform business and defense in ways that will create new applications and opportunities.

Human-Machine Teaming
Applications with embedded intelligence have already begun to appear thanks to massive language models. For example – Copilot as a pair-programmer in Microsoft Visual Studio VSCode. It’s not hard to imagine DALL-E 2 as an illustration assistant in a photo editing application, or GPT-3 as a writing assistant in Google Docs.

AI in Medicine
AI applications are already appearing in radiology, dermatology, and oncology. Examples: IDx-DR,OsteoDetectEmbrace2.  AI Medical image identification can automatically detect lesions, and tumors with diagnostics equal to or greater than humans. For Pharma, AI will power drug discovery design for finding new drug candidates. The FDA has a plan for approving AI software here and a list of AI-enabled medical devices here.

Autonomous Vehicles
Harder than it first seemed, but car companies like Tesla will eventually get better than human autonomy for highway driving and eventually city streets.

Decision support
Advanced virtual assistants can listen to and observe behaviors, build and maintain data models, and predict and recommend actions to assist people with and automate tasks that were previously only possible for humans to accomplish.

Supply chain management
AI applications are already appearing in predictive maintenance, risk management, procurement, order fulfillment, supply chain planning and promotion management.

Marketing
AI applications are already appearing in real-time personalization, content and media optimization and campaign orchestration to augment, streamline and automate marketing processes and tasks constrained by human costs and capability, and to uncover new customer insights and accelerate deployment at scale.

Making business smarter: Customer Support
AI applications are already appearing in virtual customer assistants with speech recognition, sentiment analysis, automated/augmented quality assurance and other technologies providing customers with 24/7 self- and assisted-service options across channels.

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