SMBC Nikko Securities Inc. said it will launch a service Friday to advise individual customers on investment in Japanese stocks utilizing artificial intelligence. The unit of Sumitomo Mitsui Financial Group Inc. hopes to gain a wide range of customers, including novice investors, through the online service designed to propose an optimum asset management method. SMBC Nikko will operate the service jointly with Japanese AI technology developer Heroz Inc. The AI-based service will show stock prices expected a month ahead of all firms listed on Japanese stock exchanges for more than one year, based on their earnings data and daily stock price movements. It will propose the best portfolios for customers according to how much loss they can accept.
Apple unveiled a host of new subscription services at a star-studded event in Cupertino, California, on Monday morning. The event marked the debut of a new era for a company that built its brand on hardware and software; just last week, Apple announced new products with little fanfare, saving its firepower for Monday's celebration of services, from its attempt to take on Netflix to a new Apple credit card. Steven Spielberg, Reese Witherspoon, Jennifer Aniston, Steve Carrell, Kumail Nanjiani, and Big Bird were on hand to promote new creative projects that will be released through Apple's new subscription television service, Apple TV . Spielberg's Amazing Stories will resurrect the 93-year-old brand of a science fiction magazine that inspired the director as a child. Witherspoon and Aniston announced The Morning Show, described by Aniston as "an honest look at the complex relationship between women and men in the workplace".
Finance industry commentators believe that artificial intelligence (AI) will replace many existing financial services positions. Along with blockchain, digital transformation and regulation, AI is a technology set to roil banks now and in the coming years. Join us in this article as we dive into the topic of AI in finance and what its growth and sophistication mean for financial professionals. The most menial of positions will likely come under AI threat first. These positions that rely on repetition, which are more easily "taught" to a program include: By replacing repetitive positions with sophisticated algorithms, engineers can enable financial institutions to generate massive efficiencies, notably in lowering overhead costs and boosting productivity.
Almost 1.5million jobs are at risk of being replaced by robots, a new survey by the Office of National Statistics (ONS) has revealed. Women and young people are at higher risk than other demographics in their jobs. A total of 7.4 per cent of all jobs are under threat, a figure which is slightly down from the 8.1 per cent number from 2011. Almost 1.5million jobs are at risk of being replaced by robots, a new survey by the Office of National Statistics (ONS) has revealed. The ONS analysed the jobs of 20 million people from 2011 and 2017 in England and found that that 7.4 per cents are at high risk of automation.
Artificial intelligence is your new insurance claims agent. For years, insurance companies have used "InsurTech" AI to underwrite risk. But until recently, the use of AI in claims handling was only theoretical. The advent of AI claims handling creates new risks for policyholders, but it also creates new opportunities for resourceful policyholders to uncover bad faith and encourage insurers to live up to their side of the insurance contract.Most readers are familiar with Lemonade, the InsurTech start-up that boasts a three-second AI claims review process. However, as noted in a Law360 article last year, Lemonade deferred any potential claim denials for human review, so the prospect of AI bad faith is still untested.
The increased sophistication of fintech poses many policy concerns, especially when harnessing A.I. in asset management. Currently, there is a lack of international regulatory standards for A.I. and machine learning in asset management. Since A.I. is already being used by investment managers to improve operational structure, investment strategy, and trading efficiency, the need to address this policy gap is urgent. On March 25, the Institute of Electrical and Electronics Engineers (IEEE), the world's largest professional organization devoted to engineering, is launching Ethically Aligned Design (EAD1e), a set of guidelines for the design and use of intelligent systems. The initiative is a step in the right direction because it begins to provide the ethical foundations for designing transparent and impartial systems--but more must be done.
First, a couple of pointers to keep in mind when searching for datasets. Kaggle: A data science site that contains a variety of externally contributed interesting datasets. You can find all kinds of niche datasets in its master list, from ramen ratings to basketball data to and even seattle pet licenses. Although the data sets are user-contributed, and thus have varying levels of cleanliness, the vast majority are clean. VisualData: Discover computer vision datasets by category, it allows searchable queries.
Visiting Nobel Peace Prize laureate Malala Yousafzai urged world leaders Saturday to further promote the empowerment of women through education and financial support. Her call came on the first day of the joint World Assembly for Women and Women 20 (W20) summit, which was held in Tokyo with Prime Minister Shinzo Abe in attendance. "If you want to create a world where all women and girls can shine, where women are driving innovation, or succeed in government and business, our leaders must invest in girls' education," Malala said in her opening keynote speech. "This week, I'm asking G20 leaders to commit new funding to girls' education" and for the development of the "skills that they need to prepare for the future workforce," she added. In his opening speech, Abe echoed the need to invest in women's education and made clear his commitment to make it a high priority in the agenda for this year's Group of 20 summit, to be held in Osaka in June.
CFOs are planning to implement advanced technologies, including artificial intelligence, drones, robots and blockchain, at a rapid rate, according to a new survey by Grant Thornton. For the study, GT and CFO Research polled 378 senior finance executives about the ways technology is transforming nearly every division in their organization, especially the finance function. One out of four of the respondents said they use AI, compared to just 7 percent last year. Significant proportions of senior financial execs are currently implementing advanced analytics (38 percent) and machine learning (30 percent). Within two years, senior financial execs plan to roll out a battery of new technology, such as AI (41 percent), blockchain (40 percent), robotic process automation (41 percent) and drones and robots (30 percent), at their organization.
If one types in "define blockchain" into Google, this is the definition they receive: A system in which a record of transactions made in bitcoin or another cryptocurrency are maintained across several computers that are linked in a peer-to-peer network. Likewise, if one searches for "define artificial intelligence," they receive the following answer: The theory and development of computer systems able to perform tasks normally requiring human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages. As noted by Kailash Nadh at LiveMint, these two technological advancements aren't related -- and shouldn't be shoehorned together. Examine almost any whitepaper for an initial coin offering (ICO) from 2017 or 2018 and there's a good chance you will find that the project plans on miraculously marrying the blockchain to artificial intelligence in order to not only provide business solutions but also solve all of the world's problems. Throw in some stock images of astronauts and robots, and you've got the complete package.