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 http://www.telegraph.co.uk/business/2017/10/10/ex-barclays-boss-anthony-jenkins-heyday-banking-will-never-return/
AI startup Change wins BBVA Open Talent competition
…eat off strong competition from almost a thousand entries from dozens of country around the world to secure top spot in the world’s biggest fintech competition.
Change’s winning solution, based on artificial intelligence and robo-advisory capabilities, is designed to, as they put it, give everyone their own personal financial advisor.
The solution improves people’s financial lives by optimizing their bank accounts – so, for example, it allocates the right amount of money to ensure people pay their bills on time, or automating deposits into savings fund.
Change had previously won the Artificial Intelligence …
2017-10-19 17:06:00 https://www.finextra.com/pressarticle/71262/ai-startup-change-wins-bbva-open-talent-competition
New York City is hiring a futurist to forecast innovation
…The city announced on Thursday a program called NYCx to help the city better prepare for and shape the future.
NYCx will focus on coming innovations such as 5G connectivity, self-driving cars or artificial intelligence, and how they can make the city equitable and sustainable. NYCx will do this through moonshot challenges, which encourage entrepreneurs to tackle the city’s biggest problems. Anyone can apply.
In an unlikely move for a city, New York is also hiring a senior futurist to gather insights on possible cultural, economic and environmental changes ahead. Futurists say that good forecasting can save cit…
2017-10-20 00:00:00 http://money.cnn.com/2017/10/20/technology/future/nycx-futurism/index.html
Why should Financial Services organisations automate their threat intelligence
…ntegrated security framework allows granular visibility into your entire distributed network, and enables you to automate a coordinated threat response across your entire security infrastructure.
As machine learning, AI, and robust threat intelligence become more commonplace among security solutions, having an integrated security architecture in place will be necessary to leverage the insights from these tools. It can be resource intensive to make this intelligence actionable, which is why financial services firms must focus on building a security architecture that allows for the automated analysis and distr…
2017-10-18 09:31:07 https://www.finextra.com/blogposting/14632/why-should-financial-services-organisations-automate-their-threat-intelligence
CloudQuant Is a Trade Strategy Incubator That’s Looking to Develop and Fund Algorithm Traders
Algorithmic trading has quickly become one of the hottest growth areas in the financial industry today, and is perhaps the most talked about trading approach on Wall Street right now. These advanced trading systems process massive amounts of data through complex financial models to identify optimal alpha opportunities. What’s more, these trades are typically automated and done in high volume, maximizing cost and time efficiency.
… A rising population of programmers, data scientists and mathematicians are now looking to write complex codes for automated investment strategies of their own. The challenge is gaining access to tools and data sets typically available only to institutional financial firms and hedge funds.
But now, one ambitious company looking to harness this quant trading revolution and partnering with those aspiring algo traders is CloudQuant, a free opensource, cloud-based trading strategy incubator that allows data scientists and programmers from all walks of life a chance to test their trading idea with historical data and an advanced backtesting engine. For strategies that show potential, CloudQuant will actually license the algorithm and allocate real capital to test it on the market, sharing any profits generated from the strategies with their creators.
The company just announced another allocation for a second trading algorithm.
Read the full article with an interview from Morgan Slade on Equities.com
Robots Are Coming for Jobs on Wall Street
…s on Wall Street
Automation has been replacing manufacturing jobs for decades, but white collar finance workers have so far largely been spared. That’s no longer the case for Wall Street workers, as machine learning AI is now cheap enough to begin rolling out in real world situations, (Video by Henry Baker) (Source: Bloomberg)…
2017-10-18 00:00:00 https://www.bloomberg.com/news/videos/2017-10-18/robots-are-coming-for-jobs-on-wall-street-video
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 http://technoitworld.com/artificial-intelligence-machine-learning-basics-applications/#respond
Fast data meets Big Data and a whole new technological generation is born
… you deservedly trail blaze. Firms like DataStax are the reason that Feedzai can develop the AI to track the spending of individual customers and accessing it in milliseconds for their clients. Their machine learning algorithms are then better able to accurately analyse each transaction and screen them for fraud. The demand for real-time distribution of Big Data, as well as the fast response time required, is a massive data challenge that, as Feedzai succinctly put it, “It’s Moore’s law on steroids – you have to improve just to stand still, to really improve you need to innovate”.
What does the …
2017-10-20 00:00:00 http://www.bobsguide.com/guide/news/2017/Oct/20/its-moores-law-on-steroids-fast-data-meets-big-data-and-a-whole-new-technological-generation-is-born/
Deep Dive: The Boom In Big Data Could Mean Democracy For All
…track high speed trading is what will drive new trading innovations going forward.
“Now, people who are looking to execute in a low-latency manner are doing it based on models that rely on big data, machine learning and that sort of thing,” Shield said. “What you really don’t want is to process data in the co-lo, so inevitably you’re leveraging flexible infrastructures like cloud technologies to do that. That move toward data being the driver for trading is requiring that you kind of integrate a variety of technologies to make it as simple as possible.”
What has also evolved is the acceptance of cloud techn…
2017-10-19 07:57:50+00:00 http://www.johnlothiannews.com/2017/10/deep-dive-boom-big-data-mean-democracy/
Activation Functions and their use
…f overview of neural networks
Before I delve into the details of activation functions, let’s do a little review of what are neural networks and how they function. A neural network is a very powerful machine learning mechanism which basically mimics how a human brain learns. The brain receives the stimulus from the outside world, does the processing on the input, and then generates the output.
As the task gets complicated multiple neurons form a complex network, passing information among themselves.
Using a artificial neural network, we try to mimic a similar behavior. The network you see below is a neural …
2017-10-23 09:05:21+05:30 https://www.analyticsvidhya.com/blog/2017/10/fundamentals-deep-learning-activation-functions-when-to-use-them/
Auto matchmakers: How Cars.com uses decades of data to match consumers with dealers
…erson to work with. Each of our features addresses one of those dimensions.
For example, in the past year, we’ve invested heavily in algorithms that guide shoppers on pricing. But we have also built machine learning technologies to predict how far along the shopper is in the journey. Most car shoppers are in the market for anywhere from a couple of weeks to a handful of months. By understanding where the customer is in that process, we can tailor the experience to them.
What challenges make your work interesting?
Zolla: Consumer behavior is changing rapidly. We used to just have a website. Then we got an a…
2017-10-20 00:00:00 https://www.builtinchicago.org/2017/10/20/spotlight-working-at-cars
8 ways machine learning will improve education
…CMO has recently reported the shocking news: “While 16% of U.S. jobs will be lost over the next decade as the result of artificial intelligence and technology, 13.6 million jobs will be created during that time due to the trend.” Artificial Intelligence is truly conquering the world.
With an estimated $70 billion worth on the market, artificial intelligence is in its prime right now. It improves the economy, ensures higher security of governmental institutions, and takes medicine to a brand-new level of greatness. In fact, machines get …
2017-10-19 14:07:48+00:00 http://bigdata-madesimple.com/8-ways-machine-learning-will-improve-education/
Machine learning could put an end to your streaming woes
…c ton of buffering.
Buffer haters everywhere will rejoice to learn that MIT researchers may have come up with a solution that could end slow load times once and for all. They have developed a unique artificial intelligence system that can optimize video streaming, making the process more reliable.
To understand how it works, first you must understand what buffering is and why it happens.
The tech behind the annoyance
Internet traffic or data is sent in units called packets, also referred to as chunks.
When it comes to video, streaming or loading of said data happens in segments.
Over time, fragments come in as…
2017-10-22 00:00:00 https://venturebeat.com/2017/10/22/machine-learning-could-put-an-end-to-your-streaming-woes/?google_editors_picks=true
The birds, the bees, and the bots: Another conversation for parents to consider
…s like messaging programs and audio. The first bots were limited by costs of processing power and algorithms. Fast forward to today, where simple interactions are now real-time automations powered by artificial intelligence and natural language processing (NLP), both of which have advanced significantly over time.
Today’s bots can help you complete tasks as complex as booking hotels, responding to support questions, and organizing your meetings. The list keeps growing while new developer kits, plug-ins, and APIs (e.g., BotKit) make it easier to build more bots. In the tech world, the term “bot” appears everywhere. …
2017-10-20 00:00:00 https://venturebeat.com/2017/10/20/the-birds-the-bees-and-the-bots-another-conversation-for-parents-to-consider/
Top 30 big data tools for data analysis
…ner operates through visual programming and is capable of manipulating, analyzing and modeling data. RapidMiner makes data science teams more productive through an open source platform for data prep, machine learning, and model deployment. Its unified data science platform accelerates the building of complete analytical workflows – from data prep to machine learning to model validation to deployment – in a single environment, dramatically improving efficiency and shortening the time to value for data science projects.
Pentaho addresses the barriers that block your organization’s ability to get va…
2017-10-17 12:02:55+00:00 http://bigdata-madesimple.com/top-30-big-data-tools-data-analysis/#Comment
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 https://www.geekwire.com/2017/baidu-president-calls-ai-single-transformative-force-time-talks-u-s-china-twin-engines-innovation/
Natural language processing will help humans and machines have more empathy
…otional response, and, finally, we act. Thus, any attempt to help people make better decisions that don’t account for our emotions is almost always destined to fail.
However, with recent advances in artificial intelligence and especially natural language processing (NLP), we finally have the technological tools for tapping into the power and complexity of human feelings. This approach has major implications for how we design systems, and it’s leading to solutions with more humanistic points of view.
Programming for difference
Language is incredibly complex. From one person to the next, the slightest difference in…
2017-10-22 00:00:00 https://venturebeat.com/2017/10/22/natural-language-processing-will-help-humans-and-machines-have-empathy/
The big opportunities in serverless computing
…se and need to be addressed. Twistlock is a growing company in this space. The cloud native security company, which has raised $30 million, offers security solutions for serverless applications using machine learning and advanced threat intelligence techniques. [Disclosure: Our firm is a seed investor in Twistlock.]
Early adopters of serverless
With a serverless approach, a company’s developers can focus more on writing code than on managing the operational tasks of an application. Netflix is a great example. Just imagine the infrastructure required to serve over 100 million subscribers around the globe, th…
2017-10-22 00:00:00 https://venturebeat.com/2017/10/22/the-big-opportunities-in-serverless-computing/
Georgia State University receives grant to train underrepresented students in IoT tech
…ollaborate, and solve problems digitally.”
The three-year grant will fund a new Digital Learners to Leaders program, an initiative to encourage students to use IoT technology — from data sensors and machine learning to smart city software — to create solutions for challenges within their community.
“At Georgia State, we have been working to incorporate digital literacy skills and competencies throughout our core curriculum. This grant allows our students to augment in-class learning with exposure to professional problem-solving that will prepare them for the careers of today, and for future careers that do …
2017-10-21 00:00:00 https://venturebeat.com/2017/10/21/georgia-state-university-receives-grant-to-train-underrepresented-students-in-iot-tech/
You’re not an AI company until you’re a full-stack company
…From Siri and Alexa becoming household names to Apple recently announcing its new HomePod smart speaker, artificial intelligence finally seems to have made the jump from the world of futuristic science fiction straight into our own homes. The variety of tasks that AI creations are taking on is increasing. AI can vacuum our floors, create expensive works of art, and even debate the meaning of life.
With AI technology permeating the public consciousness, tech companies are eager to ride the hype and emphasize the AI aspects…
2017-10-20 00:00:00 https://venturebeat.com/2017/10/20/youre-not-an-ai-company-until-youre-a-full-stack-company/
Google’s Deepmind AI unit releases new version of AlphaGo that learns on its own
…Deepmind, the artificial intelligence research organization owned by Google, announced some stunning results Wednesday from research into the next generation of its AlphaGo system: the machines are getting smarter.
AlphaGo Zero, the new version of the AlphaGo system that defeated the world’s best Go players in competitions over the past few years, was able to teach itself how to play the ancient board game as well as its predecessor…
2017-10-18 21:31:11+00:00 https://www.geekwire.com/2017/googles-deepmind-ai-unit-releases-new-version-alphago-can-learn/
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 https://www.geekwire.com/2017/will-ai-create-new-god-us-sounds-like-plot-dan-brown-thriller/#disqus_thread
The CloudQuant business model revolutionizes the world of quantitative investing
At CloudQuant, we believe:
- That our external research partners can and will innovate.
- That given access to data, and tools our external research partners will find new ways to invest profitably.
- That given access to funding their innovations will be profitable.
- That our external researchers should be treated like partners.
The heart of our business plan is our client algorithm license agreement. The algorithms created by our clients are their proprietary information. We clearly state this in our user agreement.
Once a researcher requests that we fund their strategy, we will review the simulation performance report. If the algo is selected for licensing, we provide the client with a proposal to enter into a mutually beneficial profit-sharing licensing agreement. When both parties agree to these terms we will fund the strategy with our own capital.
Licensed and funded trading strategies are then operated on our own technology, with full oversight from our risk department, professional traders, DEVOPS team, and trading management.
Our licensing partner will receive royalty payments on any net trading profits on a monthly basis.
The licensing partner does not need to provide any of their own capital, and they are not liable for any trading losses.
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