Technology is and has always been a crucial part of finance. From the first promissory notes (banknotes) in the Netherlands and China, there was a race with counterfeiters that parasitically undermined trust. As in political communication, technology is the message, rather than merely "a tool": when it comes to money, trust is not just instrumental, it is fundamental. With cashless payments being the norm and social media platforms weαving an additional layer of involvement in our social data web – Amazon, Google, Facebook, Apple – Artificial Intelligence (AI) is already in our wallets, business, and financial affairs. In a non-western setting, one may refer to the Chinese "social rating" system, which allows the state to value and evaluate social behaviour patterns, creating a link to individual credit rating.
The Hong Kong Fintech Week was staged at the Hong Kong Convention and Exhibition Centre, and saw HKUST faculty engaging in lively discussions with senior executives and business leaders on the digital future of the financial services industry. The audience heard three important talks on related themes. First, Professor Mike So, from the Business School's Department of Information Systems, Business Statistics & Operations Management, spoke on the "Use of Smart Data in High Frequency Finance and Risk Management". He began by describing how high-frequency stock trading works. "Once there is a profitable signal from the market, an algorithm is used by high-speed computers to perform trades."
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.
HONG KONG--(BUSINESS WIRE)--iClick Interactive Asia Group Limited ("iClick") (NASDAQ:ICLK), a leading independent online marketing technology platform in China, today announced a partnership with i-House.com, a pre-eminent global real estate blockchain cloud platform. The collaboration will allow i-House.com to reach a more targeted audience in its range of blockchain-enabled real estate projects. For iClick, this extends its data-based business intelligence solutions to the real estate sector and offers the potential for more personalized and value-added solutions in the future. The partnership demonstrates tangible value from combining the two exciting technologies of data analytics and blockchain, revealing potential areas for this sector and beyond. Developing business intelligence ("BI") capabilities is meeting the latent needs of brands to maximize the value of their proprietary data and to provide actionable insight from such data.
This article was written by Kwon Sok Oh, a Financial Analyst at I Know First. Israel currently has over 7000 thousand startups, living up to its reputation as the "startup nation." Israel is considered the most venture capital intense country, with the highest investment funds per capita in the world. Israel's unique combination of innovative and entrepreneurial mentality, technology-oriented ecosystem, government support, and international investment has driven the proliferation of the startup environment. Over 350 multinational companies, including technology giants, such as Intel, Apple, Microsoft, Amazon, and Samsung, and global financial institutions, such as JP Morgan, Citibank, and Barclays, have established R&D Centers in Israel to take advantage of the advent of novel startups and innovative technologies that solve existing problems.