Innovating for Dollars: AI / ML / Deep Learning / Cognitive for Financial Institutions

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When Letterman was still hosting the Late Show, from time to time he’d say: “And if all THAT weren’t enough…and by golly, don’t you think it ought to be,” and would go on to mention something else that was noteworthy about the show or a guest.

Bear with me, I’ll go back to that in a moment, and it will tie into our discussion…which is about AI. AI is forecast to drive GDP gains of $15.7 trillion globally by 2030.* No organization can afford to miss out on its share of those trillions in opportunity. Adoption is low thus far, however. In Stratecast’s 2017 Big Data and Analytics Survey, only 20% of organizations said they are considering, planning, implementing, or using it. We think one part of it is market confusion; another is organizations not seeing the link between AI and revenue—both growth and retention.

Let’s first dispel some confusion surrounding AI. My practice analyzes big data and analytics (BDA), and here is where AI fits at a functional level: the Business Process and Strategic Analytics (BPSA) area of the BDA market. BPSA represents about one-quarter of the overall BDA market, which we assessed at more than $53 billion in 2017, and which we forecast to grow to nearly $68 billion by 2019.

Now let’s talk about other linkages between AI and money. Ever heard of Alexa and Siri? Amazon? Facebook, Google, Netflix, Tesla, and Uber? These and a multitude of others are making money right now by applying AI to their businesses. But wait, you say, what about financial institutions? Well, how about one of the largest online financial trading services in the world? It has used AI to reduce support costs by 80%. Or consider how, with hundreds of forms and more than 350 online apps, associates at a top-10 Wall Street investment firm were spending an average of 20–30 minutes looking for each form or app. The firm is now saving an estimated $32 million annually by applying AI to those and related processes. Even these examples, however, reflect a financial services market that is only beginning to scratch the surface of all the ways AI can benefit financial institutions. Customer-facing applications of AI include learning customer patterns and motivations to help guide them toward better financial decisions. In the back office, AI can, similarly, guide a financial institution’s own investment decisions. AI can automate tasks in many areas including underwriting, reconciliation, the development of risk models, and basic handling of incoming data and queries.

Sounds good, right? But delivering on the promise of AI requires a vision for applying smart analytics to the business. Nowhere is that concept more fitting than when talking about Tableau. Tableau provides the foundation underpinning the adoption of new and emerging technologies with an enterprise platform that covers all the bases in governance and security to help financial service companies guard against security breaches and ensure privacy compliance. Tableau offers rapid performance against massive datasets, an effect now accelerated by Hyper, its fast main-memory database system designed for simultaneous OLTP and OLAP processing (transactions and analysis in a single system) without compromising performance. Powerful, self-service analytics drive innovation, encouraging employees to discover opportunities for new products and services, contributing to customer and revenue growth—and enabling them to quickly run scenarios to assess the impacts of new business models such as blockchain.

Back to Letterman: “And if all THAT weren’t enough…and by golly, don’t you think it ought to be,” Tableau also has a vision for smart analytics that transcends AI-supporting BDA firepower with some pretty impressive AI building blocks. On the NL front, Tableau acquired Cleargraph and is combining Cleargraph’s NLP capabilities with Tableau’s existing Eviza natural language interface; and the company has partnerships with Automated Insights and Narrative Science to add NLG capabilities to the mix. In development are Tableau’s new Recommendations Engine, which will enable discovery, help users reuse the work of others, and leverage knowledge of their communities; Model Automation, which will offer smart defaults, saving time and providing ease of use; and Automated Discovery, to help customers discover hidden insights and answer more complex questions.

Planning on revenue growth? Failure to harness the power of AI could be a showstopper. Tableau has the content and the connections to ensure that the show will go on.

*PwC, AI to drive GDP gains of $15.7 trillion with productivity, personalization improvements, available here

A life well lived: I finally made it into the New York Times

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NY Times Biz masthead
1st guy, seeking directions on a New York City street: “How do you get to Carnegie Hall?”

2nd guy: “Practice, practice.”

In my past work in marketing and public relations I’ve gotten a client or two placed in the New York Times, but now my own name appears in “those hallowed halls”–which is a phrase I reserve for those pages where the Times is not trying to tell us how we should all feel about politics. No, these are the informative-and-topical hallowed halls of the Times. A Travel feature in the Business Day section.

And wow, it’s a WHOLE paragraph. At the very end of an article. But it IS the New York Times. When you get your name in the Times, you salute the flag and say, “Thank you, Sir, may I have another [mention in the Times someday]?”

Typical for a major media outlet, the person who interviewed me spoke with me for about a half-hour, yet most readers can polish off my Paragraph of Fame in seconds. Did I tell them who I work for, and provide my title, and spell it all out for the interviewer? Yes. Did I ever once say I was “a business consultant”? No. But again..it’s…the New York Times.

And they spelled “Cotrupe” correctly. MAJOR bonus points for that.

Here’s the link to my moment in the sun. Enjoy.

Trotting to 24:56 in the Oceanside 5k

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1On October 27 I powerwalked and ran (about half & half) my first 5k, the Surf City 10 in Huntington Beach, CA, in 28:45.

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3For yesterday’s Oceanside Turkey Trot I had a goal: “25”…and I did it! Ran all the way and finished in 24:56. #576 out of 5,799 (top 10%) – #42 Age group Men – #48 Age group Men + Women.

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DSCF0451Also learned this: keep your cool! Less than a mile in, two guys dumped right in front of me; I got mad, “flew” past ‘em—and spiked the left hamstring! Told my hurt hammy two things: “25;” and what my CrossFit & Olympic lifting mentor Jimmy Baker says: “C’mon now, I know you got it in you,” and enjoyed the rest of the flight…

6Thanx to older daughter Michelle for the photos, and to my wife Joanne for getting me there, and joining Michelle in cheering me on!

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“Dropped 40 pounds in a year, Jeff? How did you do it?”

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UPDATE: -47 pounds and counting | The world is my treadmill…

Me: November 2011 Me: November 2011

In the months leading up to my Grissom High School Reunion in July 2012, I knew I wanted to do something to get in shape. When our younger daughter Heather returned home from college for the summer, she suggested juicing: blending fruits and vegetables in a specially-made juicing machine, and drinking the juice as a meal replacement. So we did that juicing “cleanse” for a month before the Reunion.

Two dear lifetime friends were, in my eyes anyway, the hit of the Reunion: Karen Cass Gill and Carol Baldwin Butterworth. Karen is in amazing shape, and you know those long distance runners from Kenya who compete in the summer Olympics? Well, Carol was in better shape than anyone I’ve ever seen other than, pretty much, those runners from Kenya.* Carol is Association Director Of Youth Teen and Families for a network of YMCAs in Virginia, and here’s what she said about it: “If I’m telling everyone to get in shape, how can I be anything less?” Everyone at Reunion marveled at her. A few days later, done marveling (at least for the moment), I asked her what she does to stay in such, um, marvel-ous shape. She told me several things, but the most important one was this: “I try to always get my 10,000 steps a day.”

I’ve worked in my home office for years, and at that point I figured I was probably getting, oh, 400 steps some days. I also knew that…

Continue reading

Sweet Home Alabama, and other thoughts

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Since around March 1 I’ve been working remotely from my personal favorite venue among the places I’ve lived and worked thus far in my lifetime: Huntsville, AL, USA. (You may find that quite a statement from someone whose current home base is Oceanside, CA, USA, just north of “perfect weather central,” San Diego.) The Rocket City, designated as such due to the omnipresence of NASA and other aerospace organizations and facilities in the metropolitan area, is home to my high school alma mater, Virgil I. Grissom High School, named after one of the three astronauts who lost their lives in the fiery Apollo 1 disaster.

Stratecast on Twitter

By contrast with the final mission of those three brave souls, my stay here has been a wild and wonderful ride that is not over yet. My current job as a global program director at Stratecast enables me to work remotely from anywhere with an Internet connection and an airport. So I’ve been working throughout the trip on my syndicated research reports, and growth consulting projects for great clients such as HP, based on the Big Data, analytics, and business intelligence market. I’ve even handed out my first technology innovation award for the year, which seems appropriate in a world-renowned hotbed of technology innovation such as Huntsville.

Big Spring Park in Huntsville, AL, USAMy mission on this trip has been personal as well as professional. Being in town from Wednesday through Sunday last July for my Grissom High School Reunion gave me just enough of a taste of the town to drive me crazy waiting for a return engagement. So my non-working hours have been chock-full of fun with friends, both lifetime and new, at Drake’sWatercressConnorsDing How II, The Mellow Mushroom, Humphrey’s, Grill 29, and beyond.

2013-03-04 17.59.46I’ve walked Monte Sano and Green Mountain, as well as Big Spring Park, where I did battle with a duck I am certain was the size of at least one model in the Kia fleet of vehicles.

I walked in the Huntsville St. Patrick’s Day Parade and rocked out that night at The Sports Page to great bands including power-rockers Black Label, who were so good I found myself virtually stage-jumping to the raw sonic fury. Along the way I’ve unleashed MarketPOWER+ social sizzle to help bring #SoMeT13US to Huntsville, and to thank The Rocket/95.1FM for tearing the roof off the Rocket City.

A Jeff's iPhone-eye view of walking in St. Patrick's Day Parade in Huntsville, AL, USAIt’s been a trip filled with work and play and discovery. Time to get back to it…

Newtown calls for new answers | Introduction & Part 1

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A dear cousin has a childhood friend whose daughter attends Sandy Hook Elementary in Newtown, Connecticut, USA. As I understand it, their young daughter was home sick on that fateful day, just before Christmas 2012, when a cowardly, misguided and, we learned, likely mentally deranged gunman sent 26 souls, 20 of them children, to Heaven.

If there is a God and if anything I have ever learned in my life means anything, when that gunman gutlessly turned the gun on himself, he sent his own soul to hell. I continue to petition our Lord and Savior to allow me 26 minutes in that inferno, one for every victim, to address the gunman directly and personally.

My cousin’s friend’s entire family is now sick themselves: sick with sorrow knowing they were spared the Newtown tragedy while so many they care about were not.

I am sick over this myself. Not because a friend of a close relative is at ground zero of this horrifying nightmare, although that certainly brings it closer to home. No, it is because while this cowardly, evil gunman acted alone, and in that sense he is the only one to blame for those 26 beautiful souls being swept from this earth, the factors that have brought us to this place as a nation — where it would now be a shocking week that did not include a shooting at a public place — make clear that in many ways, he did anything but act alone. In this situation, and so many sickening others at schools and malls across the U.S., it appears that things “fell through the cracks.” And while so many people in my lifetime have spoken those words to me, it seems as if we as a nation are so busy covering our political asses that we are letting this nation’s lifeblood and future fall through the cracks.

Partisan “Answers” Are What Got Us Here in the First Place

I am a registered Independent. Not because I’m “on the fence,” or indecisive, or don’t have an opinion. Actually, as you may learn if you bravely read on, I’m one of the most decisive people you may ever encounter, rabidly unafraid to stake out a position. No, I am a registered Independent because I simply cannot sell my political soul to one side or the other. You know the “sides”: Democrats versus Republicans. Liberals versus conservatives. Is our democracy at its core about the right of free speech, and more broadly than that, free ideas? You bet it is. Is robust debate a healthy ingredient in our democracy? Yep again. Yet here is what I believe had better STOP being a part of our democracy, this noble experiment, this shining city on a hill: this business of far too many Americans waking up every day “already knowing who they hate.”

…and my point is? Simple: if you’re reading along expecting someone who cannot wait to pounce on Newtown and other tragedies for partisan political advantage, you can forget it. If you hope to add partisan politics to it, through the kinds of vicious comments that make their way onto some of talk radio and The Daily Kos — well, daily — I have the only vote that counts when it comes to posting them here. Frankly, I am sick of it, and about it. Let the well-funded, entrenched idiocracies keep right on being part of the problem, creating and reinforcing political gridlock: the any-gun-for-any-reason NRA lobby, the every-criminal-has-a-heart-of-gold apologists, the any-abortion-at-any-time NOW lobby, the everyone-is-a-victim lobby. They’re all happy to keep “doing their worst”* to keep tearing this nation apart, and they’re doing a killer job of it.

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I live by this crazy principle, in political matters and all things: “Don’t tell me who you are. Show me what you DO.” We need all the great ideas, specific plans, hard work, and action we can get, or we’re not going to survive as a nation. The Chinese, the terrorists, the global economy are not going to wait around for us to figure this out. As Bill Clinton once said: “We don’t have a single person to waste.” And as a great many have said over our history: “time’s a wastin’.”

So on with the plan. Below is part 1:

GUNS AND PROTECTION OF FAMILY AND LIVELIHOOD

1) Immediate need: tighter gun control, and a ban both on assault weapons and the high-capacity ammunition they use. Federal law. We were at long last smart enough as a nation to end the idiocy of “drinking age 21 in this state, drinking age 19 in an adjacent state” that sent underage drinkers speeding across state lines to their death, and causing the deaths of untold others. Let’s figure out what we can all agree on and get it done. This business of “We’re not gonna enforce any gun control laws here in our county if we decide they’re unconstitutional”: hey, have the balls to go ahead and secede from your state, or the Union. As long as you’re part of THIS household…I mean, nation…you obey our rules.

2) If anyone breaks into your home or business, or pulls a gun or knife on you or anyone in your home or business, you or anyone acting on your behalf has the right to injure or kill them without being prosecuted for it. Federal law. Banning assault weapons and placing other limits on guns also removes a deterrent: witness gun-free zones such as schools and college campuses where most of these senseless mass killings are occurring; and much larger “zones” where it is illegal to carry a gun, such as, um, New York City. Right now killers know they are operating from a position of power against defenseless victims. It is time to take back the power.

3) Redefine the ridiculously limited current notion of “self-defense.” Federal law. Self defense is no longer to be construed as, “he was coming at me with the threat of immediate death or serious bodily harm to me — but if he stops, or turns away, I cannot do anything to him.” Let’s get real and stop pretending we don’t know what we all know: that anyone who would threaten violent death on others will be back. We are perfectly within our rights to eliminate that person so they will never again bring harm to us, our loved ones, or anyone else. We are under no obligation to stand by and wait ’til they come back to finish the job.

4) No one who is hurt or killed while they themselves were in the commission of a criminal act, nor their families or friends, nor anyone else on their behalf, shall be allowed to bring a lawsuit or negative action of any kind against those who hurt or killed the criminal. Federal law.

The cumulative effect of the changes in this first section, provisions 1-4, would be to show that we actually are serious and thoughtful enough not to simply place any weapon in anyone’s hands for any reason — while at the same time letting anyone contemplating a violent criminal act know that they are not cleverly preying on innocents. Instead they will know clearly that if they break into or otherwise enter anyone’s home or business with intent to commit a criminal act, it may well be the last thing they ever do.

* Thank you, Monty Python troupe

!mB for animation

“Newtown calls for new answers” is a five-part blog series, each of which focuses on specific areas I believe we must address, together, to help stem the rising tide of violence in America.

Introduction & Part 1 | NEXT: Part 2 | Part 3 | Part 4 | Part 5 & Conclusion

Slash & Myles, Far And Away: The Real Lyrics

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Slash & Myles: Apocalyptic Love
Slash featuring Myles Kennedy and the Conspirators
FAR AND AWAY
Apocalyptic Love

There are a zillion lyrics pages out there. (Okay, more.) Why create one for this song? Because even the best of the best lyrics sites have not, in my good listening ear’s opinion, captured the true lyrics for this epic piece of music. Many come quite close but fall short a “give it tomorrow” here or an “I’m so alone” there. I believe I’ve captured the correct intersection of lyrical sets here.

Those who know me best know I love music across the spectrum from heart-wrenching symphonic movie soundtracks to smooth jazz to rockin’ country to crash-and-burn, deliciously vicious hard rock and metal. What I love most, though, are intelligently-constructed minor key cavalcades, melodic and molten and beautiful, and capable of shaking arenas and stadiums off their foundations. Continue reading

“The Run For Your Life”: American Cancer Society’s Relay For Life

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[below: “Infinite Love,” living art created by Michelle & Heather Cotrupe in honor of their grandmother, Ramona Cotrupe, on the beach in Oceanside, CA, on a recent 4th of July]

My previous blog entry was about my Mother, Ramona Ann Cotrupe, who joined relatives and friends in Heaven just before Thanksgiving 2011 after a brave 12-year battle with colon cancer. Pretty much whatever I chose to follow it with would be so comparatively trivial as to border on ludicrous.

Except this: an invitation to join me at the American Cancer Society’s Relay For Life (RFL), 21-22 April 2012, Mira Costa College, Oceanside, CA, USA. This is not a cause we recently adopted after Mom passed away. RFL, which I have joyously referred to as “The Run For Your Life” around those I know best, has been a labor of love for my family since the early 2000s. Continue reading

Ramona Ann Cotrupe, 1935-2011: greatest person I have ever known

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It is hard to put into words what most of us feel when we lose a parent. My Mother was the sweetest, kindest, bravest, most caring, considerate, unselfish and pound-for-pound strongest person I have ever known. Life dealt her vastly more than her share of challenges…starting right in her own household with Dad, my brother, and me, and continuing when cancer snuck in like a cowardly thief in the night 12 years ago. Yet from her perpetually smiling face and sunny demeanor you would never know it.

So much of what passes for “conduct” in today’s world is people behaving like idiots. Ready to stomp their fellow human beings if it means being first in line at Starbucks. Braying like burros if one inconveniences their Supreme Highness for a second. My Mom was always about quiet strength, not making a loud spectacle of yourself, putting others first. Over the course of her life, and especially as she waged a 12-year battle with cancer, she endured things a thousand times worse than the complainers will ever see, yet through it all radiated class, grace, and patience they could not begin to comprehend. However, she would always chastise me–and I can feel her giving me her “I disapprove but I still love you” face right now–at the thought of me speaking ill of anyone. She did not throw “Jesus” and “religion” in your face, but she was devoutly religious and more importantly, the way she lived her life was the textbook example of what I believe our Creator put us all on this earth to do. She simply loved everyone. The one thing she would not tolerate? Someone hurting one of us. Do so and you had a small but lethal tornado heading rapidly in your direction.

There has never been anyone quite like my Mother, nor will anyone quite like her ever pass this way again. If you did not know her, you missed a great one…but hopefully through words such as these in venues such as this you can know her at least enough for the warmth of her heart and the power of her love to wash over you and comfort you. That is what she lived for.

I’ve said to family and friends that when I pass from this earth, if I am given serious consideration for Heaven it will only be because Mom pulled a favor with God to get me in. That and, if for reasons unknown (and indefensible) in the cosmos my Mom were not in the company of God in Heaven, then I don’t want to go. I want to be wherever she is. 

 

My pilgrimage to the musical motherland: U2

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…and other dispatches from Dublin during Management World 2011

Aye and Begorrah. The week I traveled to Ireland, President Obama did as well. Honestly not sure why he did not consult with me to sync up schedules…at any rate, the big news of the week for me professionally was attending an event-within-an-event, featuring the team I lead at Stratecast, at the world’s largest IT show for the communications industry. The Innovation Spotlight at Management World 2011 was built around the Rat Pack/10 to Watch report our team publishes each year identifying and analyzing the market’s hottest emerging companies. Check out some great videos from the event here.

Management World (MW) was chock-full of meetings each day plus working breakfasts and dinners, but in a few brief free moments I was able to snap a decent pictorial’s worth of pertinent pix. Continue reading