Talkwalker builds on commanding lead in AI applications for social analytics with a new visualization tool that uncovers and maps topics visually from millions of social media conversations.
1/22/2020: Talkwalker, a social listening and analytics company, today announced the launch of Conversation Clusters, a data visualization tool that enables marketers, PR professionals, and consumer insight analysts to instantly uncover, understand, and visualize the context around any topic at a glance.
The launch marks a significant development in the social listening and analytics space, enabling users to take full advantage of assisted data exploration with the help of augmented analytics. For the first time, the latest advances in machine learning research can be utilized at speed and scale for use cases such as trend research, content creation and consumer insights.
Achieving industry-leading time-to-insight, Talkwalker’s data science team mastered high dimensional data reduction and streamlined processing power to display a map of complex connections within minutes. “Automated data segmentation holds massive revenue potential for enterprises. An analysis that would take weeks or months to build can now produce actionable results in minutes,” said Todd Grossman, Talkwalker CEO Americas.
Conversation Clusters is based on a powerful machine learning algorithm that groups results semantically. “Our algorithm first identifies relevant word patterns and topic structures in the results taken from our annotated database of billions of articles, and then plots them so that results with many similarities are shown close to each other,” said Dr BenediktWilbertz, Head of Data Science at Talkwalker. “Using a massively parallel infrastructure, we are able to analyze and represent tens of thousands of links and connections between data points in little more than one minute.”
Talkwalker is one of very few companies that have the data science expertise and technical infrastructure to be able to run advanced computations for clients on this scale. Unlike many legacy solutions that rely on time consuming importing and exporting of data sets, Talkwalker provides access to a vast media, consumer and social database for analysis. Additionally, it has a user-friendly option to add and analyze custom data instantly, like call center, email, chat or survey data.
“Businesses need data to be able to answer ever more detailed questions that are tailored to their unique situation, whether it be on consumers, campaigns or brands. A contextual AI solution like Conversation Clusters enables users to train custom AI models using business-specific data sets – fast and easy, without the need for costly user training,” said Grossman. “We’re really excited for users to experience this next stage of social listening. It’s never been so easy to map hidden patterns within any topic to create trending content, find consumer insights or leverage the next big trends for content creation.”
Africa dominates crypto searches, demonstrates huge potential for uptake of blockchain technologies
It is becoming more apparent that crypto markets will grow exponentially and not only in financially sophisticated markets with secure internet connection, high mobile penetration rates and a highly skilled labour force but even more so in developing countries where the use of cryptocurrencies for remittances, ecommerce and payments is more out of necessity than choice. LocalBitcoins and Paxful are peer-to-peer Bitcoin trading platforms that are popular among crypto users in Africa connecting as buyers and sellers. Despite recent setbacks such as the announcement by LocalBitcoins that the entity was suspending user accounts and implementing geo-restrictions in Ethiopia, Ghana, Botswana, Tunisia, Libya, and Nigeria, uptake of these new digital assets is still on the rise.
We’ve seen a lot of positive sentiment this year and a spike in interest in all things blockchain and cryptocurrency related. Google trends shows Nigeria and South Africa as the top countries in the world with the highest searches for terms such as Bitcoin. Uganda is also among the very top of the list of countries worldwide with the highest search interest in cryptocurrencies. Searches for blockchain are also on the rise worldwide with countries like Ghana leading the search traffic.
“This in addition to on-the-ground proof of interest makes us as the United Africa Blockchain Association certain that the future for deploying blockchain technologies in these key African markets is bright. Our first blockchain community engagement event for 2020 had over 200 attendees,” explained Grey Jabesi, UABA’s biz dev director and host of the Survival Skills podcast.
Africa to dominate crypto markets in the future? A closer look at the facts:
- By 2025, nearly two-thirds of the estimated 303 million African households will have discretionary income.
- Africa Annual report by Ornico Group expects consumer spending on the continent to rise to US$1 trillion by 2020.
- Consumer expenditure on the continent has grown at a compound annual rate of 3.9 percent since 2010 and reached $1.4 trillion in 2015. This figure is expected to reach $2.1 trillion by 2025, and $2.5 trillion by 2030.
- In sub-Saharan Africa, annual growth rate is expected to average 12% through 2035.
- In Africa’s eight largest markets, private consumption is expected to grow at 5% a year (in real terms) to $1.25 trillion in 2025.
- By 2025, almost half of Africans will be living in cities and mobile penetration – currently over 950 million mobile subscribers in Africa, according to telecommunications researcher Ovum.
- in Africa is estimated at over 90%.The African continent’s population is expected to reach 2 billion by 2050, accounting for 24% of the world’s population.
- The working-age population in Africa is growing at a clip of 2.7 percent each year. 53% percent of income earners in Africa are between 16 and 34 years old – these consumers will contribute to more than $400 billion in total consumption growth in the next decade.
Blockchain adoption challenges
“Political instability and conflict, poor infrastructure, linguistic diversity, differences in consumer behaviour, fragmented markets, and low data availability and quality could pose some challenges to adoption of some blockchain powered innovations,” said Gareth Grobler, founder and ceo of iCE3X, one of the first digital asset exchanges to launch in South Africa and Nigeria. “Despite all those potential challenges, South Africa is still one of the leading countries worldwide as far as trying to find a way to create a digital asset friendly environment.
Our COO, Eugene Etsebeth was the inaugural Chairperson for the Intergovernmental Fintech Working Group back in 2016 during his tenure at the South African Reserve Bank. The wheels of government, unfortunately, do not turn as fast as we would like, but we are moving in the right direction and we look forward to being a licensed crypto-asset service provider (CASP). I personally have been consulting with the financial regulator since 2012 and I can honestly say that it is one of the best jurisdictions in which to operate,” Grobler explained.
Examining factors that can influence or inhibit blockchain technology’s adoption and proliferation within the African markets is key. This includes analysing social factors and characteristics of adopters in terms of identifying behavioural barriers to adoption within different markets across the region. In addition, analysing the rate at which diffusion of innovation takes place in order to be able to device strategies and processes by which innovation is communicated through particular channels is critical.
Measuring the extent to which potential adopters perceive an opportunity to experiment with the blockchain-based innovations prior to committing to usage is necessary. Real market penetration can only be fully realised if companies consider factors that affect the rate of adoption of innovation including the extent to which the technology is perceived as difficult to understand and use, and also the degree to which the innovation may be experimented with on a limited basis, as well as the degree to which the results of those new products and services are visible to the potential adopter.
Ultimately, the extent to which these new 4IR technologies are perceived as being consistent with the existing values, past experiences, and needs of potential adopters will have a significant impact on which blockchain businesses will succeed in potentially the most important market for global businesses in the future just based on population growth the fastest growing consumer base on in the world.
Success in most markets, particularly those across sub-Saharan Africa requires companies to tailor their offerings to local needs and preferences of the different demographics of potential adopters. Understanding local needs and preferences that drive mass adoption of products and becoming aware of not only local product preferences but also local buying behaviours in order to maximise on first-mover advantages in a growing consumer market such as Africa could be the key to an effective market penetration strategy for companies developing blockchain-based products.
Written by: Heath Muchena is an author, journalist and the principal at Proudly Associated which advises international blockchain companies developing technologies that have use cases focused on emerging economy development, particularly in Africa.
Visit: Heath Muchena
Gareth Grobler, Founder and CEO of iCE3X on the role of Digital Asset Exchanges in Africa
Gareth Grobler is a digital currency entrepreneur and founded the cryptocurrency exchange iCE3X in 2013. He is a founding member of the UK Digital Currency Association. Gareth has over 15 years of experience in IT infrastructure and architecture development. He started iCE3X as a proof of concept and has been involved with other ventures including Merkeleon, a software company that builds exchange and processing software based out of Austria, with offices in Minsk and London. In this exclusive interview with Heath Muchena of Business Africa Online, Grobler provides clarity on developments in the industry within Africa and shares his views on cryptocurrency adoption on the continent. Excerpts:
Heath: What impact do you think cryptocurrencies will have on how people trade especially in Africa considering that a huge number of people on the continent remain unbanked and excluded from the traditional financial system and cross-border trade is slow and inefficient?
Gareth: It is a double-edged sword. Crypto gives more people access to more options but also creates a void where unscrupulous entities fleece consumers who are not as financially savvy due to the fact that they have not had regular exposure to financial products and or have no experience with investments.
Heath: What government issued African fiat currencies does your platform currently support?
Gareth: The iCE3X platform currently supports two fiat currencies, the Nigerian Naira (NGN) and the South African Rand (ZAR) in addition to the more than 10 cryptocurrencies.
Heath: iCE3X has been operational since 2013. What prompted the early move in the space especially in African markets you operate in i.e. South Africa & Nigeria?
Gareth: iCE3X began as a proof of concept for the SaaS exchange product but now we have more functionality and features than any other exchange in Africa. Our focus is on being the best trading platform and not a cryptocurrency custodian since our vision is to give end-users more options especially when it comes to storing cryptos and do not advocate storage on our exchange, only responsible trading.
We have a loyal user base and are very proud to be one of the few exchanges with legitimate trades and volumes. We take a customer-centric approach to development and delivery of our offerings. Our primary focus is user education with regards to both cryptos and fiat money and blockchain technology adoption. An example is our free crypto trading platform feature which allows users to learn how to trade in real markets using demo tokens native to our exchange.
Heath: How is the cryptocurrency industry developing in South Africa?
Gareth: iCE3X is the abbreviation for “Internet Currency Evolution” so we understand that the industry still has a long way to go and we will see many transitions as the industry develops. We are constantly working on new ways to educate users about the underpinning technologies behind cryptocurrencies and are pleased with the trajectory.
Crypto markets are maturing and user security and knowledge is the main focal point for most honest operators. Part of the downside to the success of bitcoin has been the rise of scams being perpetrated under the bitcoin banner by opportunists looking to defraud unsuspecting ecosystem participants.
Heath: You’re part of the group helping to advise the South African Reserve Bank with respect to cryptocurrency regulations. How would you ideally like to see them approach regulating the industry particularly crypto exchanges?
Gareth: We see cryptos such as Bitcoin as complementary financial instruments rather than replacements for traditional fiat. The SARB have been doing a great job in taking great care to understand the industry and any new challenges it faces, both technically and socially. It is pretty clear to everyone that cryptocurrency such as bitcoin itself cannot be regulated or controlled, but rather that the interaction of fiat money and cryptocurrency should and can be regulated.
Ultimately citizens require consumer protection and the best way to provide this is by vetting and licensing the operators who facilitate the interaction of FIAT and Cryptocurrency. The wheels of government, unfortunately, do not turn as fast as we would like, but we are moving in the right direction and we look forward to being a licensed crypto-asset service provider (CASP).
Heath: How would you describe the progress in South Africa in terms of regulating the industry?
Gareth: South Africa is one of the leading countries worldwide in this respect. Our COO, Eugene Etsebeth was the inaugural Chairperson for the IFWG (Intergovernmental Fintech Working Group) back in 2016 during his tenure at the South African Reserve Bank. I’ve been consulting with the financial regulator since 2012 so overall as a whole RSA have been keeping on top of the curve, yet have been very careful not to tie the industry with unnecessary red-tape so I can honestly say that it is one of the best jurisdictions in which to operate.
Heath: What are some of the legal and regulatory guidelines you currently follow and how will the organisation monitor emerging regulatory considerations? For example Anti-money laundering (AML) laws; and know your customer (KYC) laws.
Gareth: We are proud to have been ahead of the game since inception. We have in fact set the standard in some respects. We follow Financial Action Task Force (on Money Laundering) (FATF) recommendations and already comply with all the suggested government regulations in terms of KYC and AML, even though these requirements are not yet legal requirements. We are also fortunate as I am a FATF recognised private sector expert and as a result, get to not only influence regulatory thinking on an international level but also benefit from first-hand exposure to the direction regulators are taking.
Heath: What can you tell us about the product roadmap for the exchange? You continue to release new features and list new digital assets, what upcoming features are you most excited about rolling out?
Gareth: There are a host of new features, functionality and assets scheduled for release during 2020. This includes stable coins, auto trading, 5 new order types, completely revamped and unique rewards system, new mobile apps, gamification and more deposit and withdrawal options. We are most excited about Artificial Intelligence Coin, our native utility token which will take cryptocurrency adoption and use in South Africa to a whole new level. This is due for release towards the end of Q1 2020.
Neil Sahota, IBM Master Inventor and UN Artificial Intelligence advisor to speak at AI Expo Africa 2020
The AI Media Group, organisers of Africa’s largest AI Business Event – AI Expo Africa – is pleased to announce that IBM Master Inventor and UN Artificial Intelligence advisor Neil Sahota will speak at AI Expo Africa 2020.
AI Expo Africa is the continent’s largest B2B trade-focused artificial intelligence (AI) business event. The expo, which is now in its third year, will be held at Century City Convention Centre in Cape Town 3-4th September 2020.
AI Expo Africa Event Director Roy Bannister stated, “We are really excited to welcome Neil Sahota to our community, he has amassed 20+ years of business experience in a multitude of domains and has 17 awards, 26 publications and 15 patents under his belt. His thought leadership around helping clients and business partners create next generation products powered by emerging technology will be highly valued by our community.
Besides lecturing at UC Irvine in the US, he is also a keynote speaker and author on topics that include emerging technologies like artificial intelligence (AI) and blockchain, as well as entrepreneurship, intrapreneurship, innovation and social good.
Sahota stated, “I am very excited to gain insights from the African AI community. The AI Expo Africa 2020 event gives both myself and many business leaders the opportunity to immerse themselves in 2 days of real-world AI debate, talks and hands on demos of the 4IR technologies that are changing business and society, it’s the largest event of its kind on the continent and looking forward to making a contribution”.
During AI Expo Africa 2020 Sahota will deliver talk on “The AI Frontier: A Great Divider or A Solution?” in which he will discuss techniques and tools which organizations and under-served communities can use to ideate and implement value added solutions. In addition, he will be hosting a master class on AI for Good coupled to social innovation models and joining an expert panel discussing ethics in AI.
AI Expo Africa Event Co-founder Dr Nick Bradshaw stated, “His work experience spans multiple industries including legal services, healthcare, life sciences, retail, travel and transportation, energy and utilities, automotive, telecommunications, media, communications and government. He is also co-author of the best-selling book “Own the A.I. Revolution: Unlock Your Artificial Intelligence Strategy to Disrupt Your Competition” which will be made available at the show to delegates that attend.
Sahota joins a growing list of leading figures and companies that have engaged with the AI Expo Africa community, including the likes of AWS, Microsoft, Google Cloud, IBM, PWC, Kenyan Government, ITU, Nvidia, Intel, SA Government, Dimension Data, UiPath, Blue Prism, Vodacom, Hikvision, SAP, SAS, French Embassy, Telkom, Deloitte, Accenture, EY, Persistent Systems, ABSA & Standard Bank.