Google’s new ‘RankBrain’ AI wants to really get to know you

27 Oct 2015 | Author: | No comments yet »

Gold Holds Four-Day Decline as Investors Await Fed Rate Decision.

Treasuries held a gain on expectations the Federal Reserve will keep its benchmark interest rate at a record low at a two-day meeting that starts Tuesday, after China’s decision last week to cut borrowing costs highlighted risks to the biggest economies. Valeant Pharmaceuticals International Inc. failed to provide satisfactory answers to an inquiry about its price increases for medications it acquired, Senator Claire McCaskill said.

Gold held a four-day drop as investors await this week’s Federal Reserve decision and assess the effect of a slowing global economy amid easing monetary policy in China and Europe.Staples Inc.’s planned takeover of Office Depot Inc. could overcome U.S. antitrust hurdles with a side deal involving Essendant Inc., according to a report from Bank of America Corp.Google has just gone public with the details of a new artificial intelligence called RankBrain, which the search giant is using to handle difficult queries.

When Google-parent Alphabet Inc. reported eye-popping earnings last week its executives couldn’t stop talking up the company’s investments in machine learning and artificial intelligence.People around the globe make more than 3.5 billion Google searches every day, and a small percentage of these are queries that have never been made before. Signs of slowing U.S. growth are driving demand for government securities, with economists forecasting a report today will show durable-goods orders fell for a second month in September. The loss by Odey European, a $1.4 billion fund betting on rises and declines in stocks, brings the drop for the year through Oct. 16 to 17.4 percent, said the person, who asked not to be identified because the information is private. During tests, Google engineers who design the algorithms correctly ranked 70 per cent of sites from a range of search terms while RankBrain achieved a score of 80 per cent.

Valeant didn’t provide information on its expenses associated with two drugs, Isuprel and Nitropress, and didn’t give McCaskill a list of other medications whose prices have more than doubled, she said. The FTC has contacted a corporate purchaser of office products to discuss the idea, which would resolve the antitrust investigation and clear the merger, the analysts said. “The FTC is clearly continuing to evaluate the situation, with apparent efforts being made to vet a solution involving a capable industry participant,” according to the report. The People’s Bank of China reduced its benchmark lending rate on Friday. “The PBOC decided to cut rates because of the slowdown in the Chinese economy,” said Hiroki Shimazu, the senior market economist in Tokyo at SMBC Nikko Securities Inc., a unit of Japan’s second-largest bank. “Market participants believe the rate hike will come next year” in the U.S.

Essendant Chief Executive Officer Robert Aiken said on an earnings call last week that he couldn’t comment on a possible settlement in the Staples case but his company “would be open to acquisitions.” The FTC’s investigation of the Staples takeover, which would unite the No. 1 and No. 2 office supply retailers, has focused on whether the creation of just one national supplier would harm competition and raise prices for large corporate customers who buy under contract. Bloomberg’s Jack Clark, who spoke with Google research scientist Greg Corrado about the new AI service, explained that “if RankBrain sees a word or phrase it isn’t familiar with, the machine can make a guess as to what words or phrases might have a similar meaning and filter the result accordingly, making it more effective at handling never-before-seen search queries.” According to Corrado, RankBrain has become the third most important signal determining what search results a user sees. The company is under scrutiny after a short seller raised questions about its relationship with a mail-order pharmacy Valeant has an option to acquire. While U.S. central bankers are weighing growth, inflation and labor-market data to decide whether to tighten policy, the outlook for China’s economy — and what it means for the U.S. and the rest of the world — is expected to feature prominently in discussions at the two-day Federal Open Market Committee meeting beginning Tuesday. Odey European posted a record monthly loss of 19 percent in April — described as “bloody” by Odey in an investor letter — before recovering in the following five months.

Every time it makes these guesses, it monitors how the person making the searches responds to the results and can adjust its filtering process accordingly. In June, researchers from the tech giant trained a computer to have conversations before posing a series of questions about technical support, general knowledge and even philosophy. The probability the central bank will increase the benchmark by its December policy meeting is about 34 percent, according to futures data compiled by Bloomberg. The drugmaker held a conference call Monday morning to mount a defense of the company’s arrangement to sell medications through the pharmacy, Philidor RX Services, explaining how it accounts for the inventory that moves through its business partner.

Depending on the questions being asked, it can gather information from various sets of data, either based on an IT helpdesk manual, a movie and subtitles database, book quotes and so on. In 2012, he got planning permission to build a 130,000-pound ($200,000) Palladian-style chicken house on his country estate a two-hour drive northwest of London. Earlier this week Facebook revealed it was taking on Google by indexing every single public post made on the site – which currently stand at 2 trillion. The site said its users are already making over 1.5 billion searches per day and it will now start serving personalised results to these users, based on their privacy settings For example, during a technical support question and answer session the machine was able to diagnose a problem with a user’s virtual privacy network, and solve the problem of a browser crashing. Once it had been trained, researchers asked more complex and advanced questions that either involved using a larger database for the general knowledge quiz, to more obscure answers such as the meanings of morality, ethics and life.

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