banking & finance


Investment in UK artificial intelligence startups soars

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Venture capital (VC) investment in the UK's growing artificial intelligence (AI) sector leapt almost six-fold from 2014 to 2018, with funding comprising almost as much as the rest of Europe combined. According to research prepared for Tech Nation and the Digital Economy Council by Dealroom, investment in UK AI startups reached US$ 1.3 billion in 2018. Notable deals in 2018 included Bristol-based Graphcore which raised US$200m. Throughout 2018, Dealroom recorded 82 venture capital fundraisings across UK companies, compared to 70 in the previous year-- that's a continuation of a trend that's seen investment in AI companies grow sharply over the last five years. "These statistics are further confirmation that the UK is Europe's undisputed number one tech hub," said the UK digital secretary, Jeremy Wright.


Understanding How Artificial Intelligence Can Make Blockchain Safer and Smarter

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In scripted environments like video games, you can train an AI based on a limited number of pre-defined actions, reading the code of the game and in this kind of environment, machine learning algorithms can make decisions based on that. In open and non-scripted environment, things are a little bit more complicated. For example, in social media AI's have to deal with fake news, self-reported data, bots and so on. You can create algorithms that are smarter enough to recognize some of them, but, remember in this case you need a lot, I mean "A LOT" of computational power to run every calculation, so at the end of the day it's incredibly expensive and at the same time with a vast percentage of errors. Usually, the most useful AIs in open environments are made by the same Company that owns the platform, because they can read their scripts that they own servers are running every time users make specific actions, understanding the quality of data and how to use it as well.


Sberbank creates algorithm to do data scientists' job

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It seems that even data scientists are not immune to the corrosive impact of artificial intelligence on the jobs market. Russia's Sberbank claims to have created an algorithm - Auto ML (machine learning) - that "acts like a data scientist", creating its own models that then solve application tasks.


Seven of the Coolest–and Best-Paying–Jobs in Emerging Tech

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In the Digital Age, we often contemplate which professions today won't exist five or 10 years from now. But, fortunately, innovation is creating new ones to replace them, with many of these positions commanding salaries well into six-figure territory. Even better, a great deal of jobs in emerging tech qualify as "very cool"; they're all about pursuing intriguing discoveries while using the latest versions of IT tools. To find out which seven stand out as the very best, consider this list of the "Hottest Emerging Tech Jobs in 2019" from FitSmallBusiness.com. They include R&D test engineers for self-driving cars, machine learning experts and blockchain developers.


Seven of the Coolest–and Best-Paying–Jobs in Emerging Tech

#artificialintelligence

In the Digital Age, we often contemplate which professions today won't exist five or 10 years from now. But, fortunately, innovation is creating new ones to replace them, with many of these positions commanding salaries well into six-figure territory. Even better, a great deal of jobs in emerging tech qualify as "very cool"; they're all about pursuing intriguing discoveries while using the latest versions of IT tools. To find out which seven stand out as the very best, consider this list of the "Hottest Emerging Tech Jobs in 2019" from FitSmallBusiness.com. They include R&D test engineers for self-driving cars, machine learning experts and blockchain developers.


SK Telecom and Deutsche Telekom to collaborate on blockchain ID

ZDNet

SK Telecom and Deutsche Telekom will collaborate to create a new blockchain ID that will borderless, they said. SK Telecom and Deutsche Telekom will collaborate to create a blockchain ID with the aim to ease authentication processes, the companies have announced. The South Korean telco will sign an memorandum of understanding to that effect with its German counterpart's research arm, T-Labs, at the upcoming Mobile World Congress (MWC). The two will use blockchain technology to create a mobile digital ID that can be used for authentication, entry control, transactions, and contracts. The ultimately aim will be to make a "borderless" ID, much like a passport, that can used across different countries.


Artificial Intelligence: The Next 24 Months TechNative

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Recent developments are poised to move AI to center stage, leading to revolutions across businesses around the globe. However, challenges remain, and an uncertain future makes it difficult to predict exactly where and how AI will be most effective. Protiviti and ESI ThoughtLab recently conducted a survey of 300 senior executives across the globe to uncover just how AI is being implemented and what to expect in the coming years. According to the survey, just 16 percent of businesses report gaining significant value from AI. Over the next two years, however, this number is expected to more than triple, potentially leading to a majority of businesses relying on AI.


Derisking machine learning and artificial intelligence

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The added risk brought on by the complexity of machine-learning models can be mitigated by making well-targeted modifications to existing validation frameworks. Machine learning and artificial intelligence are set to transform the banking industry, using vast amounts of data to build models that improve decision making, tailor services, and improve risk management. According to the McKinsey Global Institute, this could generate value of more than $250 billion in the banking industry.1 1.For the purposes of this article machine learning is broadly defined to include algorithms that learn from data without being explicitly programmed, including, for example, random forests, boosted decision trees, support-vector machines, deep learning, and reinforcement learning. The definition includes both supervised and unsupervised algorithms. For a full primer on the applications of artificial intelligence, we refer the reader to "An executive's guide to AI."


Who is winning the artificial intelligence race?

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In a recent talk at Stanford, Kai-Fu Lee says China has taken the lead. Lee is a venture capitalist and author of "AI Superpowers: China, Silicon Valley and the New World Order." Who's winning the worldwide competition to develop and exploit artificial intelligence? Not the U.S., says Kai-Fu Lee, a venture capitalist and author of AI Superpowers: China, Silicon Valley and the New World Order. Although researchers and tech companies in the U.S. hold the lion's share of AI patents and are responsible for key breakthroughs in the field, the game has changed, and China is taking the lead.


Kairos gets a $4 million lifeline for its facial recognition software

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Kairos, the facial recognition startup that found itself in turmoil following the ouster of founder and then-CEO Brian Brackeen last October, has raised $4 million in funding from E. Jay Saunders, CEO of Domus Semo Sancus. This brings Kairos's total funding to $17 million. As of November, Kairos had just enough money to get through Q1 of this year. At the time, Brackeen was looking to raise $5 million for the company and had already secured $3.5 million from Beyond Capital Markets, contingent upon Brackeen rejoining the company. Fast-forward to today and Brackeen is still out of the company and the interim CEO, Melissa Doval, has been appointed permanent CEO.