Industry News

Industry News

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Industry News: Machine Learning and Artificial Intelligence News October 16, 2017

October 16, 2017

A.I. innovation is unlikely to come from a big bank, former Barclays CEO says

…Big banks have no advantage over financial technology start-ups when it comes to artificial intelligence, a former Barclays chief executive has said.
Antony Jenkins, who led the bank between 2012 and 2015, said that banks have a tendency to focus on mainframe data storage rather than seeking solutions on the cloud.
“I think the biggest myth of all… is that banks and other financial services providers are advantaged in this new world because the logic is that they have a lot of data and therefore t…
2017-10-11 00:00:00

Distribution Increasingly Key to Success in Asset Management

…rom today’s. To be among them, asset managers will need to seize opportunities to act boldly and transform the very way they work, through innovation that fully embraces advanced technologies such as artificial intelligence, machine learning, big data, and analytics. This will be especially true in investment management and distribution.”
Further, the report notes: “Players will need to become alpha shops, beta factories, solution providers or distribution powerhouses.”
eVestment’s five-step distribution framework outlines a strategic approach that can help firms identify and execute on opportunities efficiently a…
2017-10-04 11:02:58-04:00

As Advisors Jump Into AI, Experts Warn About Data

…(Image: Thinkstock)
Artificial intelligence (AI) is seen as becoming an increasingly important tool for financial advisors, but thought leaders in the field urge firms to use caution despite the lure of potential rewards.
It is likely that AI – as it continues to be developed – can help financial advisors better understand a client’s risk profile and spending habits.
“Advice can be provided faster [with AI],” says Reena Aggarwal, a profe…
2017-10-11 00:00:00

Ex-Barclays boss Antony Jenkins: the heyday of banking will never return

…The former boss of Barclays Antony Jenkins has warned that the heyday enjoyed by big banks in the lead-up to the financial crisis will never return as the rise in artificial intelligence (AI) threatens some of their services.
Talking about how artificial intelligence will shape the future of financial services, Mr Jenkins said there could be a big societal, consumer and corporate payoff from AI technology as inefficient systems speed up – but the changes are “unfortunately not so good for the banks”.
“What we’ve probably seen in the period between the late 80s and the crash is …
2017-10-10 00:00:00

Amazon and Microsoft unveil ‘Gluon’ neural network technology, teaming up on machine learning

…nd Research Group this morning announced a new open-source deep learning interface called Gluon, jointly developed by the companies to let developers “prototype, build, train and deploy sophisticated machine learning models for the cloud, devices at the edge and mobile apps,” according to an announcement just released by the companies.
Deep learning involves training a computer to recognize patterns or unlock insights based on a set of rules for parsing a massive pool of data. As you might expect, this is an extremely complicated and time-consuming process that requires a fair amount of skill. Cloud companie…
2017-10-12 13:31:14+00:00

8 Essential Tips for People starting a Career in Data Science

…hese tips and you will get a good head start in your career.
So let’s get started!
1. Choose the right role
There are a lot of varied roles in data science industry. A data visualization expert, a machine learning expert, a data scientist, data engineer etc are a few of the many roles that you could go into. Depending on your background and your work experience, getting into one role would be easier than another role. For example, if you a software developer, it would not be difficult for you to shift into data engineering. So, until and unless you are clear about what you want to become, you will stay con…
2017-10-13 07:51:45+05:30

Relativity uses AI to help lawyers read between the lines

… even physical paper. Then we put it in one place and make it searchable.
That’s challenging, because people don’t usually email each other saying: “Hey, let’s commit fraud.” So we use analytics and machine learning to help surface important data and get rid of the junk, going from millions of documents to 100 documents that the user really cares about.
Workplace communication is evolving, with mediums like Slack, text message and cloud-based document sharing gaining in popularity. What does that mean for your work?
Deitch: We used to live in a world that was more than 90 percent email. Now we have to find…
2017-10-13 00:00:00

Cramer: Facebook should hire people and not rely on machines to police its network

…ying on its social network, CNBC’s Jim Cramer said Thursday.
In an interview Thursday with Axios, Facebook Chief Operating Officer Sheryl Sandberg said the social media giant has invested heavily in machine learning to find “bad actors” on its platform.
The company, which has more than 2 billion active users, is also hiring 4,000 more people to increase oversight of ads and content, Sandberg said.
“I do not trust the machines to do what people can do at this stage of the game,” Cramer said on “Squawk on the Street.”
“But it would cost them money to have humans to review and spot check, and yet humans are …
2017-10-12 00:00:00

Augmented intelligence helps demystify complex transportation systems

…satisfaction and transport performance. System operators also reap a financial benefit from their better-optimized systems.
What augmented intelligence can and can’t do
Augmented intelligence isn’t artificial intelligence. AI rapidly analyzes tremendous amounts of data about the past to find correlations and make predictions based on those correlations. Augmented intelligence utilizes expert knowledge — not necessarily raw data — to explore a complex system like a transportation network and reveal the emergent phenomena and cascading effects of the interacting systems and activities.
At the same time, augmented i…
2017-10-14 00:00:00

Introductory guide to Linear Optimization in Python (TED videos case)

Data Science & Machine Learning are being used by organizations to solve a variety of business problems today. In order to create a real business impact, an important consideration is to bridge the gap between the data science pipeline and business decision making pipeline.
The outcome of data science pipeline is uaully predictions, patterns and insights from data (typically without any notion of constraints) but that alone is…
2017-10-09 07:48:50+05:30

Google Home versus Amazon Echo: Smart Devices Powered with AI

…Hello, everyone! In the last article, I detailed about how Google developed Google Home and Home Mini under the banner MadeByGoogle for consumers. Also, I discussed the fact about how artificial intelligence is used in these devices in the form of a smart intelligent voice assistant system. (You can have a look at the previous article here if you didn’t read it yet). In today’s article, I’ll be comparing the two big giants smart products, that is the Google Home and the Amazon Echo. Both devices have a smart voice assistant and both work in a similar manner. Yet the two devices differ in terms of the…
2017-10-10 18:25:07+00:00

Baidu president calls AI the ‘single most transformative force of our time’

…Baidu is known primarily as a search giant in China, but the company, which just opened an office in the Seattle area, is putting its full weight behind artificial intelligence and its ability to change countless industries.
“AI is the single most transformative force of our time; it is changing everything we do,” Baidu President Ya-Qin Zhang said in an interview at the opening party of the 2017 GeekWire Summit at Living Computers: Museum + Labs. The two-day event kicks off tomorrow with Starbucks CEO Kevin Johnson, and other featured speakers include Microsoft CEO Sat…
2017-10-10 02:31:08+00:00

Artificial Intelligence: Machine Learning Basics and its Applications

…ious tasks and make task performing simpler for the end user. (You can take a look at the comparison between Google Home and Amazon Echo here). In today’s article, I’ll be talking about the basics of Machine Learning and Artificial Intelligence. After understanding what the basics are, I’ll be discussing some points which make use of Machine Learning and Artificial Intelligence that is their applications. In my previous articles, I have mentioned how companies are making use of AI-based technologies in order to provide better service to the end user. In this articles, I’ll tell what the basics of Machine Lear…
2017-10-11 05:24:08+00:00

Will AI create a new god for us? Sounds like the plot of a Dan Brown thriller

…Imagine an age when artificial intelligence takes the sum of human experience and turns it into a “global consciousness” that becomes a replacement for God.
That scenario could serve as the plot for a science-fiction novel, but novelist Dan Brown suggests that it’s a real-life possibility, thanks to anticipated advances in technology.
“Over the next decade our species will become enormously interconnected at a level we are not used to, a…
2017-10-13 01:20:24+00:00
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