In a nondescript office tower a mile from the Las Vegas Strip, two women toil in a windowless room crammed with bikinis in every size, style, and hue. Down the hall, colleagues are working to break into China's red-hot market for surveillance software powered by artificial intelligence. Bikini.com is owned by Remark Holdings, a small public company with Hollywood producer Brett Ratner on its board and financial ties to TV's Dr. Mehmet Oz. Remark's leaders are trying to transform the unprofitable, debt-loaded website operator into a provider of corporate AI technology in Asia, particularly China. Remark's business and share price are struggling, but its peculiar AI project has made some progress.
A charitable assessment might have called it an experiment, really; an experiment to find out if the headwinds on the hardware and infrastructure services side of the house could be mitigated to some meaningful extent by perceived tailwinds on the software side of the house. A less charitable assessment might have called it a gamble... [...]
According to Global Market Insights, Artificial Intelligence (AI) in the Banking, Financial and Insurance (BFSI) Market is estimated to be worth over USD 2.5 billion in 2017 and is anticipated to grow at a Global CAGR of more than 30% from now through 2024. Not surprisingly, the Asia Pacific region driven by China is leading the way with an estimated CAGR of over 40%. AI has applications that vary widely in finance - from cost savings to improving customer experience and fraud detection - and right now there are already 2.5 million U.S. financial services workers whose jobs are directly impacted by AI. Finance was one of the first sectors to embrace AI. Sydney Swaine-Simon and Abhishek Gupta write: "The financial sector is one of the first domains to drive interest in using artificial intelligence, even before high computing machines were available. In the 1960s, a lot of research focused on Bayesian statistics, a method used heavily in machine learning. Some of its use cases included stock market prediction and auditing. It wasn't until the 1980s until the majority of commercialization opportunities were explored with expert systems. During that time, over two thirds of Fortune 1000 companies had at least one AI project being developed."
The information age (the period starting in the year 2000) could not have gotten off to a better start. Digital platforms have become pivotal in gathering market information including consumer behavior and new shopping trends. Alphabet Inc. (NASDAQ:GOOG)(NASDAQ:GOOGL)'s Google has become smarter, Facebook Inc. (NASDAQ:FB) and Twitter Inc. (NYSE:TWTR) have disrupted social media and Amazon.com Inc. (NASDAQ:AMZN)'s shopping search engine has grown to top Google search. To capitalize on the data obtained from users of the internet including from the platforms mentioned above, businesses have employed the use of big data tools and artificial intelligence to convert the data into useful information.
The graph represents a network of 1,840 Twitter users whose tweets in the requested range contained "#FinServ", or who were replied to or mentioned in those tweets. The network was obtained from the NodeXL Graph Server on Sunday, 11 November 2018 at 10:30 UTC. The requested start date was Sunday, 11 November 2018 at 01:01 UTC and the maximum number of days (going backward) was 14. The maximum number of tweets collected was 5,000. The tweets in the network were tweeted over the 5-day, 1-hour, 28-minute period from Monday, 05 November 2018 at 23:25 UTC to Sunday, 11 November 2018 at 00:53 UTC.
Imagine a country with an army of techies, a government that supports AI and blockchain by setting a mandate and investing billions, large scale tech companies that are rapidly experimenting and implementing at scale, and an abundance of data to feed the application of these technologies. This just about covers the AI and blockchain playground that is China. The gloves are off, and over the coming years some of the greatest advancements will emanate from the east. An ambitious AI strategic plan was laid by the China's State Council in July 2017, aiming to create a domestic 1 trillion yuan ($150 billion) AI industry by 2030. Following this, Chinese president Xi Jinping called upon his country to take the lead in developing new technologies like artificial intelligence, the internet of things, and blockchain.
There is not a huge difference in the RMSE value, but a plot for the predicted and actual values should provide a more clear understanding. The RMSE value is almost similar to the linear regression model and the plot shows the same pattern. Like linear regression, kNN also identified a drop in January 2018 since that has been the pattern for the past years. We can safely say that regression algorithms have not performed well on this dataset. Let's go ahead and look at some time series forecasting techniques to find out how they perform when faced with this stock prices prediction challenge. ARIMA is a very popular statistical method for time series forecasting. ARIMA models take into account the past values to predict the future values.
Mcmillion Capital Management Inc. lifted its position in shares of Global X Robotics & Artificial Intelligence Thematic ETF (NASDAQ:BOTZ) by 2.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 114,572 shares of the company's stock after buying an additional 2,989 shares during the quarter. Mcmillion Capital Management Inc. owned approximately 0.13% of Global X Robotics & Artificial Intelligence Thematic ETF worth $2,621,000 at the end of the most recent quarter. Several other large investors have also recently added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA purchased a new stake in Global X Robotics & Artificial Intelligence Thematic ETF in the 2nd quarter valued at about $2,488,000.
Japanese mega-conglomerate SoftBank has called out the contribution of its investment funds in helping the company increase its net income by 480 percent for its second quarter to 542 billion yen ($4.8 billion), or 605 percent for the first half to 870 billion yen. Of the 706 billion yen SoftBank reported as operating income for the three months to September 30, 392 billion was derived from its SoftBank Vision Fund and its Delta Fund. The company highlighted a 147 billion yen gain on the sale of Flipkart to Walmart earlier this year, as well as a gain of 504 billion yen as a result of increasing valuations of Nvidia and Indian hotel chain Oyo. "Investments totaling $28.1 billion to date at SoftBank Vision Fund amounted to fair value of $35.8 billion (excluding the sold investment)," SoftBank said in its results. The company said it had $91.7 billion of committed capital in the Vision Fund, $28 billion of which is from SoftBank.
Your 5G iPhone is unlikely to appear until 2020, an asteroid mining company gets some help from a new Blockchain owner, and drones get smarter at search and rescue. It's a match made in 2018. Planetary Resources just took an unusual turn on its path to asteroid mining -- selling itself to a blockchain company founded by Ethereum's Joe Lubin. Planetary Resources' Brian Israel said that Blockchain was a "natural solution" for commerce in space and an ideal way for people from various countries to coordinate efforts. It also adds some crucial funding to the space mining company, which had recently laid off employees.