Goto

Collaborating Authors

Results


Few Ways Artificial Intelligence Will Transform Banking

#artificialintelligence

A New York publisher analyzed how he has an encounter with a humanoid AI robot acting as a staff member for more specific assistance. According to him, the robot bears the name'Pepper'. Pepper is a robot that recognizes faces and emotions. She can respond through voice or by displaying messages on a tablet embedded in her torso. Resembling a friendly futuristic doll, Pepper is not only a unique dialogue member, but a concrete pointer into the future of financial technology.


The Role of Social Movements, Coalitions, and Workers in Resisting Harmful Artificial Intelligence and Contributing to the Development of Responsible AI

arXiv.org Artificial Intelligence

There is mounting public concern over the influence that AI based systems has in our society. Coalitions in all sectors are acting worldwide to resist hamful applications of AI. From indigenous people addressing the lack of reliable data, to smart city stakeholders, to students protesting the academic relationships with sex trafficker and MIT donor Jeffery Epstein, the questionable ethics and values of those heavily investing in and profiting from AI are under global scrutiny. There are biased, wrongful, and disturbing assumptions embedded in AI algorithms that could get locked in without intervention. Our best human judgment is needed to contain AI's harmful impact. Perhaps one of the greatest contributions of AI will be to make us ultimately understand how important human wisdom truly is in life on earth.


Global Big Data Conference

#artificialintelligence

We've been told that there is nothing to worry about artificial intelligence, robots and technology. New technologies will only replace mundane, repetitive jobs and free up workers to do more meaningful work, claims the media and top management consulting firms. Last week, the House Financial Services Committee's Task Force on Artificial Intelligence conducted a meeting with university academics and Wall Street financial services professionals to discuss the impact of AI on trading, robo-advisory, market surveillance and other activities within the financial services sector. To set the tone, the report by Wells Fargo predicting 200,000 banking jobs in the U.S. will be lost over the next decade--due to the introduction of new technologies--was cited by the chairman of the AI Task Force, Rep. Bill Foster (D-Ill). According to Marcos Lopez de Prado, the former head of machine learning at AQR Capital Management, algorithms in electronic markets have already automated the jobs once dominated by thousands of traders.


Unbridled Adoption Of Artificial Intelligence May Result In Millions Of Job Losses And Require Massive Retraining For Those Impacted

#artificialintelligence

PricewaterhouseCoopers, the large accounting and management consulting firm, released a startling report indicating that workers will be highly impacted by the fast-growing rise of artificial intelligence, robots and related technologies. Banking and financial services employees, factory workers and office staff will seemingly face the loss of their jobs--or need to find a way to reinvent themselves in this brave new world. The term "artificial intelligence" is loosely used to describe the ability of a machine to mimic human behavior. AI includes well-known applications, such as Siri, GPS, Spotify, self-driving vehicles and the larger-than-life robots made by Boston Robotics that perform incredible feats. Craig Federighi, Apple's senior vice president of Software Engineering, speaks about Siri during an announcement of new products at the Apple Worldwide Developers Conference Monday, June 4, 2018, in San Jose, Calif.


Unbridled Adoption Of Artificial Intelligence May Result In Millions Of Job Losses And Require Massive Retraining For Those Impacted

#artificialintelligence

PricewaterhouseCoopers, the large accounting and management consulting firm, released a startling report indicating that workers will be highly impacted by the fast-growing rise of artificial intelligence, robots and related technologies. Banking and financial services employees, factory workers and office staff will seemingly face the loss of their jobs--or need to find a way to reinvent themselves in this brave new world. The term "artificial intelligence" is loosely used to describe the ability of a machine to mimic human behavior. AI includes well-known applications, such as Siri, GPS, Spotify, self-driving vehicles and the larger-than-life robots made by Boston Robotics that perform incredible feats. Craig Federighi, Apple's senior vice president of Software Engineering, speaks about Siri during an ... [ ] announcement of new products at the Apple Worldwide Developers Conference Monday, June 4, 2018, in San Jose, Calif.


People and Machines: Partners in Innovation

#artificialintelligence

The greatest impact of intelligent technologies won't be from eliminating jobs but from changing what people do and driving innovation deeper into the business. Thoughtful adoption of intelligent technologies will be essential to survival for many companies. But simply implementing the newest technologies and automation tools won't be enough. Success will depend on whether organizations use them to innovate in their operations and in their products and services -- and whether they acquire and develop the human capital to do so. In a recent Deloitte survey of 250 executives familiar with how their companies are thinking about intelligent technologies, nearly three out of four said that they expected AI to substantially transform their organizations within three years.1 Of course, the workforce will be deeply affected by all this change. Yet even as AI eliminates some jobs in the coming decade (it most certainly will), it may create as many positions as it kills and open up vast new opportunities for collaborations between humans and machines.


Top US-Based FinTechs Making a Difference Through Artificial Intelligence

#artificialintelligence

One of the two task forces announced to be formed by the US House Committee on financial services will be investigating the use of artificial intelligence technologies (AI) for FinTech. The focus of the task force will be to examine digital identification technologies using AI to reduce fraud. It will also look into issues such as regulating ML in the financial services industry, risks associated with algorithms & big data, and the impact of automation on jobs and the economy in the US. AI has been one of the hottest technologies used by emerging FinTech players. It is used in automation, social media analytics & intelligence tools, cybersecurity, fraud prevention, and other areas.


Don't be afraid of artificial intelligence managing your money - Daily Times

#artificialintelligence

Would you want a robot managing your money? Are you comfortable with a computer that could think and learn? While this might sound like a futuristic science fiction novel, it's already happening in financial services. Robots and smart computers are helping to manage your money, and they will enable banks to increase revenue and employment over the next five years, according to a report by Accenture on realizing the full value of AI . Artificial intelligence refers to computer systems that are able to perform tasks that historically required human intelligence, such such as recognizing images, understanding speech, translating languages and making decisions.


Wealth management in an era of robots, regulation, and new money

#artificialintelligence

By redirecting focus, wealth managers can successfully respond to challenges brought on by digital disruption, demographic shifts, and tighter regulation. Wealth managers have seen their fair share of ups and downs in recent years, and while challenges remain, advisers can drive business and growth by paying attention to demographic segmentation, how investors are using technology, and changes in regulation. In this episode of the McKinsey Podcast, Simon London first speaks with PriceMetrix chief customer officer Patrick Kennedy and McKinsey partner Jill Zucker about the North American wealth-management industry; he follows that with a discussion with senior partner Joe Ngai, on the industry in China. Simon London: Welcome to the McKinsey Podcast with me, Simon London. Today, we're going to be talking about financial advice and the people who provide it: financial advisers, or as they're sometimes known, wealth managers. Wealth management is a very big business--and also a business facing a number of challenges, such as new technology, changing demographics, and tighter regulation in a lot of countries. A little later, we're going to be getting a perspective on China. But we're going to start here in North America. For the first part of the conversation, I'm joined on the line by Jill Zucker, a McKinsey partner based in New York, and Patrick Kennedy, who's based in Toronto. Pat is chief customer officer for PriceMetrix, which provides data and analytics to the wealth-management industry.