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Credit Card Fraud Prediction using Machine Learning

#artificialintelligence

With the COVID-19 pandemic, a new digital normal has emerged from the disruption to regular routines and behaviors. Individuals and businesses have been driven by unforeseen circumstances to expedite digital transformation and adopt innovative approaches in response to a volatile and uncertain situation. As consumers, our shopping patterns have evolved with the boom in the e-commerce sector, thus making credit card payments for online grocery shopping and food deliveries, the new convenience. There has been a proliferation of real-time payments fraud, as new near-instant payment platforms, including person-to-person (P2P) transfers and mobile payment platforms grow across Asia Pacific. We recently conducted a survey with banks in the region and found that 4 out of 5 (78 percent) have seen their fraud losses increase. Further to this, almost a quarter (22 percent) say that fraud will rise significantly in the next 12 months, with an additional 58 percent saying they expect a moderate rise in fraud.


Thucydides And The Dragon: Artificial Intelligence And Sino-US Rivalry

#artificialintelligence

"Made in China" used to mean cheap and poor quality, and probably involving the theft of intellectual property somewhere along the line. That perception has been out of date for many years now. Counterfeiting by Chinese manufacturers is still a major problem in some industries, but the best Chinese companies are world leaders in quality and in innovation. European telecoms utilities are alarmed by Trump's demand that they exclude Huawei components from their 5G rollout programmes: if they comply, their 5G services will be late and expensive. China's two mobile payments giants, Alibaba's Alipay and Tencent's WeChat Pay, both have many more active users than PayPal and Apple Pay combined.


Samsung Pay Card offers rival to Apple Wallet and credit card

The Independent - Tech

Samsung has partnered with London-based fintech startup Curve to launch a digital payments card later this year. The Samsung Pay Card will allow users to link all of their bank and loyalty cards to a single digital card on their phone, the tech giant said. It will also allow people with Samsung smartphones to control their money and view all their spending from a single place. The company is also working with Mastercard to launch the new feature. The announcement continues a growing trend of technology firms such as Google and Apple offering a variety of digital payment solutions on their smartphones – last year Apple launched its own credit card for the first time through its Apple Wallet payments app.


Deep Learning for Financial Applications : A Survey

arXiv.org Machine Learning

Computational intelligence in finance has been a very popular topic for both academia and financial industry in the last few decades. Numerous studies have been published resulting in various models. Meanwhile, within the Machine Learning (ML) field, Deep Learning (DL) started getting a lot of attention recently, mostly due to its outperformance over the classical models. Lots of different implementations of DL exist today, and the broad interest is continuing. Finance is one particular area where DL models started getting traction, however, the playfield is wide open, a lot of research opportunities still exist. In this paper, we tried to provide a state-of-the-art snapshot of the developed DL models for financial applications, as of today. We not only categorized the works according to their intended subfield in finance but also analyzed them based on their DL models. In addition, we also aimed at identifying possible future implementations and highlighted the pathway for the ongoing research within the field.


Artificial Intelligence: A Trusted Partner for the Financial Industry

#artificialintelligence

The first Model Artificial Intelligence Governance Framework in Asia was released by Singapore in January this year, in collaboration with the World Economic Forum's Centre for the Fourth Industrial Revolution. AI, an emerging frontier in technology that allows technical systems to simulate human intelligence and behaviors, has vast applications in many fields. As part of its «Smart Nation» pursuits, Singapore launched its National Artificial Intelligence (AI) Strategy at the Singapore FinTech Festival and Singapore Week of Innovation and TeCHnology (SFF x SWITCH) conference. Within the next three years, AI-powered chatbots will become the first point of contact for residents to report issues with city services while marking systems in schools will soon be automated. Across the financial landscape, AI has also weaved itself into the workings of the industry.


Gartner's strategic predictions for 2020

#artificialintelligence

Technology, in all its guises, is changing the way we live and what exactly it means to be humans. From artificial intelligence (AI) to cryptocurrency and e-commerce, CIOs and IT leaders must ensure they are helping their organisations adapt in this rapidly changing world. In Japan, a restaurant is trialling AI robotics technology to allow employees with limited mobility to remotely pilot robotic waiters. Companies such as JPMorgan Chase, Microsoft and Ford are hosting virtual career fairs tailored to the needs of neurodiverse candidates. Enterprise Rent-A-Car has implemented braille-reader technology into its booking system for blind employees.


Vietnam's IT Sector: 5 Industries to Watch - Vietnam Briefing News

#artificialintelligence

As Vietnam moves from low-tech manufacturing to a service-oriented economy, the country's information technology (IT) market is increasingly gaining traction, giving competition to IT firms in China and India. This has partly been encouraged by the growth of Vietnam as a regional market for domestic enterprises and global technology vendors. As Vietnam adopts Industry 4.0 across all industries, investors should consider the benefits of locating their IT business to the country. Most of the industry is foreign-invested, with multinationals funding projects to build electronic components in the country. At least 86 percent of total IT revenues in 2017 were derived from hardware.


The Politics of Artificial Intelligence in Financial Markets

#artificialintelligence

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.


Art 4.0

#artificialintelligence

Tech artist Jordan Wolfson is the author of a controversial simulation of virtual reality, explicitly titled Real Violence, in which the viewer, located in New York (United States), observes how the author strikes a man to death. Rachel Rossin manages to take the audience to a point diametrically opposite in Man Mask, a meditation exercise guiding us through the video game Call of Duty: Black Ops without appreciating the slightest sign of aggressiveness. Between the anguish generated by Wolfston's beating and the surrealist paradise of Rossin, there are many examples in which the fundamental innovations of the fourth industrial revolution are put at the service of cultural creation: blockchain, robotics, the internet of things, virtual reality and increased, etc. Alex Reyval became interested in photography in 2012 thanks to drones. Since then he has managed to reflect with his snapshots views that are just unthinkable without the assistance of these unmanned aerial devices. The renowned sculptor Anish Kapoor has come to reduce - virtually - the audience on a microscopic scale so that it can travel the human body.


Middle East tech: What does 2019 have in store?

ZDNet

The Gulf states are set to be global leaders in the deployment of 5G networks, with many expected to launch commercial 5G services in 2019. According to a recent GSMA Intelligence report, 5G will account for 16 percent of mobile connections across the six Gulf states by 2025 -- slightly ahead of the global average. Early 5G offerings in the region are likely to focus on enhanced mobile broadband services and 5G-based fixed-wireless -- especially in regions with limited fiber penetration. However, there is also an opportunity to use 5G to drive developments in immersive reality, e-sports, and enhanced in-venue digital entertainment. On the enterprise side, 5G will enable operators and governments to collaborate on smart city initiatives, focused, for example, on addressing population-related challenges.