The Journey of Spare Bank's AI Research Institute

Table of Contents

1. Introduction
2. The Journey of Spare Bank
3. The Artificial Intelligence Research Institute
   • 3.1 Basic Research
     • 3.1.1 Creating New Algorithms
     • 3.1.2 Symbolic Approaches
     • 3.1.3 Automated Theory Improvement
     • 3.1.4 Developing AI Benchmarks
     • 3.1.5 Large-Scale Multi-modal Multi-task Models
   • 3.2 Applied Research
     • 3.2.1 AI for Health
     • 3.2.2 AI for Science
     • 3.2.3 AI for Engineering or Industries
4. AI for Health
   • 4.1 Medical Imaging Analysis
   • 4.2 Vaccine Development
5. AI for Science
   • 5.1 The Changing Landscape of Research
   • 5.2 Combining Fundamental Laws of Nature with ML
   • 5.3 Material Generation with Desired Properties
6. AI for Engineering or Industries
   • 6.1 Digital Avatars and Twins
   • 6.2 Predictive Maintenance and Process Optimization
7. The Importance of Ethical AI
8. Collaboration and Partnerships
9. Conclusion

The Journey of Spare Bank and its AI Research Institute

Since its inception, Spare Bank has been at the forefront of harnessing the power of AI and machine learning technologies. With a team of over 100 research professionals, including doctors of science, professors, and postgraduates, Spare Bank's research institute is dedicated to exploring new uses of AI to tackle both societally significant and scientifically significant tasks. In this article, we will Delve into the journey of Spare Bank and explore the various projects undertaken by its Artificial Intelligence Research Institute.

Introduction

In today's rapidly evolving technological landscape, AI and machine learning have become integral parts of our lives. These technologies serve as the foundation for creating high-tech products and services. Recognizing the potential of AI, Spare Bank decided to invest in a robust research and development team. This led to the establishment of the Artificial Intelligence Research Institute, which has made significant advancements in the field of AI.

The Journey of Spare Bank

Before diving into the projects undertaken by the Artificial Intelligence Research Institute, it is essential to understand the journey of Spare Bank. Several years ago, Spare Bank embarked on an experiment to substitute classical scoring models with machine learning models. This groundbreaking experiment yielded exceptional results, surpassing all expectations. The financial impact was substantial, making it the first experiment of its kind in the banking sector.

Encouraged by this success, Spare Bank scaled up its data scientists' function and introduced centralized governance. By 2016, Spare Bank had established teams specializing in critical areas such as asset liability management and macroeconomic analysis. These teams played a pivotal role in analyzing customer experiences and providing the best commercial proposals for banking products.

Building upon its success, Spare Bank decided to establish its dedicated AI and machine learning team, known as the AI Lab. The AI Lab focused on product research and the application of machine learning and deep learning techniques. This initiative laid the foundation for Spare Bank's wider-Scale AI transformation program, integrating AI into all critical banking processes.

The Artificial Intelligence Research Institute

Within a year, the AI Lab evolved into the Artificial Intelligence Research Institute, comprising a diverse team of 100 researchers, including experts in AI, data analysis, and neuroscience. This institute operates under the guidance of an international scientific advisory board led by Jurgen Schmidt.

The primary objective of the Artificial Intelligence Research Institute is twofold. Firstly, the institute aims to conduct state-of-the-art research on AI, pushing the boundaries of what is possible. Secondly, the institute strives to advance research and scientific progress and bring AI technology into our daily lives.

Basic Research

The institute's basic research stream focuses on creating new and more powerful algorithms. The researchers explore various areas, including:

1. Creating New Algorithms

The team works tirelessly to develop algorithms that are more universal and stronger. These algorithms form the basis for future AI advancements.

2. Symbolic Approaches

Symbolic approaches to AI involve using symbols and rules to represent knowledge and solve problems. The institute explores the potential of symbolic approaches in various applications.

3. Automated Theory Improvement

One of the institute's key projects involves automating the improvement of theories in various domains. This research holds the potential to accelerate scientific progress.

4. Developing AI Benchmarks

Assessing the progress towards Artificial General Intelligence (AGI) requires specific benchmarks. The institute undertakes research to develop benchmarks in Natural Language Processing (NLP) and multi-modal tasks.

5. Large-scale Multi-modal Multi-task Models

The institute also focuses on creating large-scale multi-modal multi-task models. These models have the ability to process and interpret various forms of data, including images, Texts, and audio files. The Fusion brain platform, powered by these models, enables solving complex problems such as visual question answering and code translation.

Applied Research

In addition to basic research, the Artificial Intelligence Research Institute also engages in applied research. The institute aims to leverage AI for practical purposes and tasks in various domains. The applied research stream encompasses three key areas:

1. AI for Health

The institute has dedicated teams working on AI applications for healthcare. Medical imaging analysis is a prominent area of focus. The goal is to develop algorithms that can accurately identify pathologies and abnormalities in medical images. Additionally, the institute explores the potential of AI in vaccine development, enabling a deeper understanding of viral structure and immunizing powers.

2. AI for Science

The institute recognizes the changing landscape of scientific research. Traditional approaches involving observation, theory, and calculations are being revolutionized by AI. Research teams are working to combine fundamental laws of nature with machine learning methods. The objective is to Create algorithms that produce accurate and reliable predictions while adhering to the laws of nature. This research has implications for predicting the properties of molecules, solubility, and toxicity, among other scientific applications.

3. AI for Engineering or Industries

The application of AI in engineering and industries has the potential to revolutionize processes and improve efficiency. The institute focuses on the development of digital avatars and twins, which provide real-time information to operators. These digital representations enable predictive maintenance and process optimization, leading to enhanced productivity and cost-effectiveness.

The Importance of Ethical AI

As AI technology continues to advance, ethical considerations become increasingly crucial. The Artificial Intelligence Research Institute recognizes the ethical implications of AI and has established an ethical committee to validate and approve its research initiatives. With over 100 experts on board, the institute ensures a responsible approach to AI development.

Collaboration and Partnerships

The Artificial Intelligence Research Institute acknowledges that collaboration is vital for Meaningful progress. The institute actively seeks partnerships with research and scientific institutes, inviting professionals and researchers to join their efforts. By fostering collaboration, the institute aims to enhance user experiences, improve business indicators and address global challenges with AI technology.

Conclusion

The Artificial Intelligence Research Institute at Spare Bank is at the forefront of AI research and development. With a dedicated team of experts and a commitment to ethical AI, the institute continues to push the boundaries of what is possible with AI technology. Through basic and applied research, the institute strives to create new algorithms, solve practical problems, and contribute to scientific progress. By embracing collaboration, the institute invites professionals and researchers to join their journey towards a future powered by AI.