Financial Technology

Bankers are rushing to take Oxford University's fintech courses before robots take their jobs Markets Insider


Bankers are rushing to take Oxford University's courses on fintech, blockchain strategy, algorithmic trading, and artificial intelligence before robots take their jobs. More than 9,000 people from upwards of 135 countries have taken the online open courses, which focus on digital transformation in business, at the university's Saïd Business School, a spokesperson told Markets Insider. The fintech course, the first of five to be launched, has run 12 times and attracted nearly 4,300 students in less than two years. The average age of participants across the courses is 39, and two-thirds of them came from the financial services sector, suggesting experienced professionals are returning to school to understand how their industry is being disrupted and learn the skills needed to weather the changes. Bankers' fears of being replaced by robots are well founded.

Blockchain for KYC: As a FinTech Problem Solver - Cygnet


The most significant fears for financial institutions and banks are regulatory compliances. In the past, regulation was seen as a barrier to enter into Financial Services. Compliances were complex, difficult to comply with, and impossibly intricate for new organizations to adopt. It is a mandate for financial institutions to clearly identify and create a risk profile for each of their customers. Let's think of a situation, where a financial organization's KYC (Know-your-customer), which is a critical part of client onboarding, fails to show up a suspicious transaction done by another financial institution due to insufficient validation of the primary documents.

Fintech Infographic of the Week: Ethical AI - Fintech Hong Kong


Artificial intelligence (AI) is set to play a key role in the future of financial services and more broadly in what UBS and the World Economic Forum refer to as the "Fourth Industrial Revolution." The global economy is on the cusp of profound changes driven by "extreme automation" and "extreme connectivity." In this changing economic landscape, AI is expected to be a pervasive feature, allowing to automate some of the skills that formerly only humans possessed. In the financial services industry in particular, there has been a lot of noise around the potential of AI and data supports that investors are excited about the impact the technology could have across the industry. VC-backed fintech AI companies raised approximately US$2.22 billion in funding in 2018, nearly twice as much as 2017's record.

Blockchain and AI Bond, Explained


The two technologies may have evolved separately, but they show impressive potential when combined and are already being integrated. Considering the enormity of both trends across the tech world, it was only a matter of time until their trajectories merged. At their core, both technologies are centered around managing and communicating data, though they solve different parts of the puzzle. One of the byproducts of the digital revolution is that we generate massive troves of data from millions of touchpoints every day. AI is designed to quickly collect, analyze and correctly interpret the data, and react to it without any human interaction.

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MATRIX AI Network shows that blockchain and artificial intelligence go hand-in-hand -


Whether it's artificial intelligence (AI), machine learning, robotic process automation or the blockchain protocol, emerging technologies are moving at an incredible pace. However, these emerging technologies are still functioning in a somewhat fragmented nature – especially in the cryptocurrency and blockchain technology arena. Recognizing the need to utilize these emerging technologies within the future of decentralization, MATRIX AI Network has built an innovative blockchain protocol that embraces the many benefits of AI and machine learning. One of the overarching concerns of the blockchain space is the amount of energy required to keep networks operational 24/7. In fact, with 90% of Bitcoin mining costs attributable to energy consumption, the platform required a whopping 30 terrawatt hours of electricity in 2017 alone.

Crypto-ML Machine Learning for Cryptocurrency Traders


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The White Paper by Satoshi Nakamoto review – the future of cryptocurrency

The Guardian

Eight years ago, Visa, Mastercard and PayPal, which together make up more than 97% of the global market for payment services, cut off funding to WikiLeaks (you could still donate to the Ku Klux Klan, the English Defence League or Americans for Truth about Homosexuality). The blockade, backed by Republican senators, was political: WikiLeaks had published Chelsea Manning's material documenting US military drone strikes and civilian killings in Iraq; stopping inflowing cash silenced Julian Assange's outfit, albeit temporarily. Perhaps it was time for a cryptocurrency to stride from the proverbial phone booth, underpants over its tights, and save the day? After all, bitcoin's philosophy was that it would cut out the middleman, whether state functionary or corporate lackey, and realise a radical future in which, for instance, Afghan women, prohibited from opening bank accounts, might work and get paid in bitcoin. Certainly, in December 2010 there was much enthusiasm from cypherpunks for WikiLeaks to link to bitcoin on their website for donations.

Samsung looking at 6G, Blockchain and Artificial Intelligence Technologies


Samsung is looking at investments in sixth-generation mobile networks, system semiconductors, blockchain and artificial intelligence technologies, Bloomberg recently reported. In the report, Samsung's Vice Chairman Jay Y. Lee noted that the company is facing challenges due to the global environment causing pressure on the company's profits. Executive Opinion Bloomberg quoted Jay Y. Lee of VC of Samsung Electronics, saying that, "We should challenge ourselves with a resolution to make new foundations, moving beyond the scope of protecting our past achievements." Samsung's Plans Bloomberg quoted an emailed statement by Samsung, where it was noted discussions among company leaders on collaboration with platform companies on 6G mobile networks, blockchain technologies and artificial intelligence. Maybe the rivals of the company (mainly Apple Inc. and Huawei Technologies Co.) led Lee in making this first ever public statement for 6G technology as these tech giants race to commercialize 5G network services, which launched in South Korea during the month of April.

Dell Planning Blockchain, Artificial Intelligence Investments To Drive Server Growth


Dell EMC, subsidiary of Dell Technologies brands, said Wednesday it was looking into investing in emerging technologies like artificial intelligence, blockchain, data analytics, and cloud-compliance. "The clients are looking to tap these technologies, which is why we are bringing in servers that allow them to optimize on traditional workloads as well as invest into new age workloads such as cloud, artificial intelligence, analytics, and blockchain," said Manish Gupta, senior director and general manager of Infrastructure Solutions Group, Dell EMC India, the Economic Times, an Indian daily, reported. The clients of Dell EMC India include major local IT firms, banks, financial organizations, and insurance companies. This list also includes the Indian government which is reportedly taking a keen interest in blockchain applications. Dell EMC's servers and networking business posted revenue of $5.1 billion in the second quarter of 2018, a 34 percent increase from 2017.