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AI-powered robo advisor takes aim at the richest clients

#artificialintelligence

It's another step in the march toward advice that erodes investors' needs for human help: A robo advisor focused on serving the high-net-worth client, powered by artificial intelligence and designed to automate their specific tax management concerns. Meeting the complicated needs of the wealthy requires a deep knowledge of tax rules and regulations says Hedgeable CEO Mike Kane. "Technology and AI systems can interpret and learn from these rules better than humans can, without our emotional biases." Doubling down on its embrace of Asian themes, Hedgeable's newest offering in its robo platform is a feature called'Tax Samurai,' run by an AI bot called'Katana.' For 30 basis points, it will work for client accounts with a minimum of $1 million to analyze their securities, aggregate all of their financial data, create tax efficient transfers, apply automated downside protection on any current holdings, and perform tax efficient trading and tax-loss harvesting.


A big Dutch bank's fancy new AI system is here to help human traders--for now

#artificialintelligence

Bond traders have had a rough time recently, as their ranks have thinned since the financial crisis due to stricter regulations and the decline in manually intensive voice trading. They now face their toughest challenge yet, with AI-enabled automation threatening jobs across the industry. Goldman Sachs recently reported three consecutive quarters of decline in revenue at its bond-trading division. Overall, the number of fixed-income traders on banks' desks last year fell by 7%, to 17,500, double the rate of cuts from the previous year, according to Coalition. Things are picking up a bit this year, but few expect a return to the heady days when bond traders were known as the "Masters of the Universe."


This bank is using artificial intelligence to help, not replace traders

#artificialintelligence

ING has introduced a new tool to help its traders that's powered by artificial intelligence in the latest fintech move for the dutch bank. Rather than replacing a human, the bot is designed to help them make better investment decisions, predicting the best bond prices when they're being bought and sold. Read more: L&G's digital chief on why startups shouldn't be focused on disruption Katana, as the tool is called, has already been tested at the banks emerging markets desk in London and will now be rolled out further. The trial found 90 per cent of trades could be made quicker and that costs were reduced by 25 per cent. And the AI can learn from trading history to better improve its predictions for prices.


Creative Sound BlastX Katana review: The soundbar finally makes its way to PCs

PCWorld

By and large, the PC has stuck to 3.5mm input dual-speaker systems, occasionally with a subwoofer included. But for some reason the soundbar hasn't made its way to desktop PCs, even as it's become a hit with everyone else. Razer sort-of made an attempt with its Leviathan a few years ago, but even that was more geared towards the living room. So Creative isn't stretching the truth too far when it calls its new Sound BlasterX Katana the first "Under-Monitor Audio System." Sure, you could still use it in your living room--it's got all the necessary inputs, and it gets damn loud (more on that later). The Katana is meant for desks though.


AI-powered robo adviser takes aim at the richest clients

#artificialintelligence

It's another step in the march toward advice that erodes investors' needs for human help: A robo adviser focused on serving the high-net-worth client, powered by artificial intelligence and designed to automate their specific tax management concerns. Meeting the complicated needs of the wealthy requires a deep knowledge of tax rules and regulations says Hedgeable CEO Mike Kane. "Technology and AI systems can interpret and learn from these rules better than humans can, without our emotional biases." Doubling down on its embrace of Asian themes, Hedgeable's newest offering in its robo platform is a feature called'Tax Samurai,' run by an AI bot called'Katana.' For 30 basis points, it will work for client accounts with a minimum of 1 million to analyze their securities, aggregate all of their financial data, create tax efficient transfers, apply automated downside protection on any current holdings, and perform tax efficient trading and tax-loss harvesting.