fintech


Investors eye Artificial Intelligence and Machine Learning Made in Switzerland

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Artificial intelligence (AI) is set to substantially disrupt the financial services industry, transforming how we bank, invest, and get insured. AI refers to machines that are capable of performing specific tasks that normally require human intelligence such as visual perception, speech recognition, decision-making, and language translation. AI and related technologies are made possible by the colossal volumes of data we are able to collect and process. AI has been all the buzz these past few years, and according to CB Insights, AI startups raised over US$2 billion in 2016 alone. In the area of financial services, AI is expected to bring major shifts in financial institutions' workforces.


Regtech to the rescue » Banking Technology

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Regulatory technology (regtech) is often cited as the answer to the rising cost of compliance, risk and reporting duties at banks. Will it help financial institutions escape IT silos and enhance control over data? Neil Ainger, Daily News at Sibos' reporter, investigates. The principle of applying technology, such as regtech, to significant business challenges is "not new", says Paul Ellis, global head of regulatory product development at HSBC Securities Services. What is new is that regtech promises to marry the new landscape of post-financial crisis regulation to the new landscape of digital technologies.


Marvelstone unveils plans for new AI hub in Singapore

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Marvelstone Group, the private investment firm behind Singapore-based fintech hub LATTICE80, has revealed plans to launch its first artificial intelligence (AI) hub in Singapore's central business district in 2018. This is in a bid to position Singapore as a global leader in AI technologies, which is anticipated to be a main growth engine of the future economy. Marvelstone's AI hub is also aligned with the government's Smart Nation vision. According to the press statement, in Singapore, many ideas in the area of AI are still research focused. Hence, there is a need for an incubator such as Marvelstone to bridge the gap to commercialise them for future use by companies and the government.


Non-traditional strategies for mid-career switch to #Datascience and #AI

@machinelearnbot

In this post, I explore strategies to switch to Data Science mid-career. This switch is not easy, but based on the experience of many who I have taught/mentored/recruited – it is possible. Most people consider PhD/MooC etc for switching their career to Data Science. But here, I will explore some non-traditional/unorthodox ways of switching to Data Science. Also, most algorithms improve previous benchmarks – but the task itself remains the same.


Everything you want to know about how AI is transforming banking but were too afraid to ask

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The rise of artificial intelligence (AI) is set to change the way banks and financial services operate, as well as the way consumers approach their personal banking. Powerful AI can replace humans with machines, improve customer experience and provide simplified cost-effective solutions for businesses. AI is the science of creating intelligent machines and computer programs that can replace human tasks. Computer programs have vast capabilities to execute tasks quicker than humans can, with embedded algorithms that leave less chance to make human error. Robert Smith, Chairman and CEO of Vista Equity partners said at The World Economic Forum: "Since the invention of computers, we have envisioned that computer systems will take the best of what we think and deliver real time solutions that are more efficient.


Fintech: Can machine learning be applied to trading?

@machinelearnbot

A new academic paper, Machine Learning for Trading, is the first conclusive study that shows success in having a machine learning-based trading strategy. The author, Gordon Ritter, Adjunct Professor in the Mathematics in Finance Program, New York University, constructed an artificial system which he knew would admit a profitable strategy, to see if a machine would find it. In order to train a machine-learning algorithm to behave as a rational risk-averse investor required appropriate reinforcement learning, specifically a mathematical technique called Q-learning (playing some sort of game where you are trying to maximise the reward function that may occur at several periods in the future). The machine learning agent found and exploited arbitrage opportunities in the presence of transaction costs in a simulated market proof of concept. Ritter explained: "I was really trying to answer the question, does machine learning have any application to trading at all, or no application; sort of a binary question.


[session] Machine Learning Intro for Anyone and Everyone @CloudExpo @BigDataTrunk #ML #AI #Cloud

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With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo, October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation. With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo @ThingsExpo, October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-4, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation. Join Cloud Expo @ThingsExpo conference chair Roger Strukhoff (@IoT2040), October 31 - November 2, 2017, Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, for three days of intense Enterprise Cloud and'Digital Transformation' discussion and focus, including Big Data's indispensable role in IoT, Smart Grids and (IIoT) Industrial Internet of Things, Wearables and Consumer IoT, as well as (new) Digital Transformation in Vertical Markets. Accordingly, attendees at the upcoming 21st Cloud Expo @ThingsExpo October 31 - November 2, 2017, Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, will find fresh new content in a new track called FinTech, which will incorporate machine learning, artificial intelligence, deep learning, and blockchain into one track.


Alibaba injects $15bn into IoT, FinTech & Quantum Computing - CBR

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If done right the hope is that the research project could help 100 billion companies create opportunities and help solve problems for billions of people around the world. A new global research and development program has been announced by Alibaba, with a huge investment being made from the company over the next three years. It will be carried out over the next three years, with Alibaba looking to hire 100 researchers from around the world to build partnership and open research labs. With our technology and capital and responsibility, we can build a world-class research institute and if done correctly, it could help 100 billion companies create opportunities and help solve problems for billions of people around the world."


The Next Phase for Fintech: Moving Beyond a Buzzword

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While the use of non-traditional, or alternative, data sources is gaining ground, information culled from social media remains a challenge especially for use in making lending decisions. For that reason, the FICO credit rating score remains "extremely powerful," said Spencer Robinson, head of strategy at Kabbage, a startup that uses algorithms based on large data sets to make lending decisions to small businesses. While the use of non-traditional, or alternative, data sources is gaining ground, information culled from social media remains a challenge especially for use in making lending decisions. Like the use of alternative data, fintech's foray into artificial intelligence (AI) and machine learning is an evolution, not revolution.


[session] Disruption, Amazon Style @CloudExpo @xopher5 #IoT #M2M #AWS #Cloud

#artificialintelligence

With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo, October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation. With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo @ThingsExpo, October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-4, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation. Join Cloud Expo @ThingsExpo conference chair Roger Strukhoff (@IoT2040), October 31 - November 2, 2017, Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, for three days of intense Enterprise Cloud and'Digital Transformation' discussion and focus, including Big Data's indispensable role in IoT, Smart Grids and (IIoT) Industrial Internet of Things, Wearables and Consumer IoT, as well as (new) Digital Transformation in Vertical Markets. Accordingly, attendees at the upcoming 21st Cloud Expo @ThingsExpo October 31 - November 2, 2017, Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, will find fresh new content in a new track called FinTech, which will incorporate machine learning, artificial intelligence, deep learning, and blockchain into one track.