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'It's just a matter of time': why AI could help Europe create its own Apple or Google

The Guardian

Arthur Mensch is one of a new generation of entrepreneurs hoping to solve a longstanding problem with the European economy: its failure to produce a Silicon Valley-style tech behemoth. The 31-year-old Frenchman is chief executive of Mistral, a startup that achieved a €240m (£206m) valuation in its first round of financing – four weeks after it was founded. And he believes artificial intelligence (AI) will be the great leveller, putting Europe on a par with its previously uncatchable competitors across the Atlantic. Mistral develops large language models – the technology that underpins AI tools such as ChatGPT – and Mensch believes this could hand the initiative to a continent producing a new wave of fast-moving startups. "Given the new tools we have to hand, like large language models, everything has to be rebuilt around them. When something has to be rebuilt, it gives new players an advantage because they can go fast," he says.


IBM Sells Watson Health Assets to Investment Firm

WSJ.com: WSJD - Technology

The tech giant said its deal with Francisco Partners wouldn’t weaken its commitments to other artificial-intelligence technology and healthcare clients that use its IT services.


Council Post: A Push For Digital Transformation: The Global AI Investment Boom

#artificialintelligence

AJ Abdallat is CEO of Beyond Limits, the leader in artificial intelligence and cognitive computing. Artificial intelligence (AI) is making an impression on businesses and professionals. The impact has even been compared to the invention of the internet. We've only seen the tip of the iceberg of this technology's capabilities on macro and micro levels for individuals and venture groups to entire societies. AI interests have grown over the past decade, and we'll continue that trend as more digital transformation efforts are implemented.


NVIDIA: Building the Trader of Tomorrow With Artificial Intelligence

#artificialintelligence

John Harding is Regional Director, UK & amp; Ireland, at NVIDIA. Harding is passionate about global financial services and fintech and he leads the sales and developer teams responsible for growing the adoption of NVIDIA AI platforms across industry and the public sector. He looked at NVIDIA's findings that showed 83% of global financial services professions agree that'AI is important to my companies future's success', and 34% of respondents stated AI will increase their annual revenue by 20% or more", and in turn discussed how AI was found to have the largest impact on yielding more accurate models, creating a competitive advantage, developing new products and improving operational efficiencies: While stories about the seismic shift toward digital banking in the post-covid era abound, another technology revolution is taking place in capital markets: AI-powered trading. Recent market fluctuations and the impact of social media sentiment on stock prices have highlighted the need for active fund managers, traders and market makers to utilise AI in order to compete effectively in the future. These trends are apparent in some of the findings from NVIDIA's recent survey of financial services professionals from around the world. According to NVIDIA's "State of AI in Financial Services" report, 83% of global financial services professionals agreed with the statement that "AI is important to my company's future success."


Luminar's CFO Aims to Conserve Cash as Company Begins Commercial Production

WSJ.com: WSJD - Technology

The transaction provided Luminar with the infusion of capital it needed to begin producing lidar sensors that use lasers to measure distances and classify objects for self-driving vehicles at a commercial scale, according to Chief Financial Officer Tom Fennimore. As a public company, however, Luminar must be mindful of how it spends the cash, he added. Luminar has positioned itself in recent years to benefit from the expected rise of autonomous vehicles. It has announced partnerships with car makers including Volvo Cars, which is owned by China's Zhejiang Geely Holding Group, Daimler AG's trucks business and SAIC Motor Corp. Ltd. to incorporate its sensor technology into self-driving vehicle designs. The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team.


Artificial Intelligence Powers Mineral Rights Investing

#artificialintelligence

Traditionally, only large investors had the resources to invest in the land and professional services critical to reaping the benefits of mineral rights investing in the oil and gas market. Today, artificial intelligence (AI) technology has opened that potentially lucrative industry to individuals with as little as $300 at https://www.investinbraneinc.com. Brane Inc.'s cutting-edge technology is using AI to mine the reams of inefficiently collected, paper-based data of the oil well creation process to determine future well locations. As a result, investors of this technology may benefit from the potentially profitable mineral rights investing activities in these new locations. Although the oil and gas industry experiences price fluctuations common to the commodities market, mineral rights investing for oil and gas have historically generated positive returns for deep-pocket investors.


Application of RPA, AI, ML in Post trade Ecosystem

#artificialintelligence

Most of us are aware of buying and selling securities like equities, fixed income instruments, foreign exchanges and derivatives. These are widely spoken and covered by press in modern world. However very few discuss and illustrate how these trades are settled through post trade functions where the buyer ultimately receives the securities and seller receives cash. Business, technology, and regulatory changes has reshaped the industry practices, roles of market participants and the market structure. Market participants want themselves to be ahead of their competitors to remain competitive in marketplace.

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  Industry: Banking & Finance > Trading (0.83)

Council Post: How Artificial Intelligence Can Enable Ethically Driven Investments

#artificialintelligence

Individuals and investment firms are increasingly interested in more than a balance sheet when making investment decisions. "Put your money where your mouth is," is a popular ideal, whether it's addressing where you're purchasing a product or what company you're investing your money in. This attitude is increasingly evident with younger generations like my own. According to a 2017 Morgan Stanley survey, nearly 9 out of 10 millennials are interested in sustainable investing. I expect investments in companies with strong environmental, social and governance (ESG) practices will only grow in the future.


What Machine Learning Will Mean for Asset Managers

#artificialintelligence

Some industry experts argue that machine learning (ML) will reverse an increasing trend toward passive investment funds. But although ML offers new tools that could help active investors outperform the indexes, it is unclear whether it will deliver a sustainable business model for active asset managers. Let's start with the positives A form of artificial intelligence, ML enables powerful algorithms to analyze large data sets in order make predictions against defined goals. Instead of precisely following instructions coded by humans, these algorithms self-adjust through a process of trial and error to produce increasingly more accurate prescriptions as more data comes in. ML is particularly adaptable to securities investing because the insights it garners can be acted on quickly and efficiently.


AI Pioneers in Investment Management

#artificialintelligence

In this report, we seek to identify high-impact applications of artificial intelligence (AI) and big data in investments and best practice in their implementation by examining specific use cases. For this purpose, we conducted interviews with investment industry practitioners around the world and from different areas of investments, mostly in April and May 2019. We found that relatively few investment professionals are currently exploiting AI and big data applications in their investment processes. To provide a guidepost for investment firms and individuals seeking to move toward the latest technological frontier, we spoke with a selection of institutions across the globe that are currently using these technologies; these are among the AI pioneers in investment management. Their use cases are illuminating.