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Industry News

AI and ML for investing, ETFs, Cliff Asness, BofE, Manifold Partners, Japan’s bank, SoftBank, lack of skilled AI teammates, Uber, MarketX, fake news, …

Industry News: Machine Learning and Artificial Intelligence News November 6, 2017

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AI is changing how investors develop successful strategies

… devices in use in the United States and its territories than the entire population of the country, and we are just on the cusp of seeing driverless cars on our roads and highways. As the field of artificial intelligence continues to grow and improve, it too is poised to make radical changes in nearly every industry and sector of business — especially in investing.

Insurance firms and investment banks already use artificial intelligence to automate tasks such as claims processing and contract validation. Investors who understand how AI will reshape and transform the investing landscape can capitalize on this …
2017-11-03 00:00:00

World’s First AI-Run Global ETF Makes Its Own Managers Nervous

… Management Canada, said before the Horizons Active A.I. Global Equity ETF began trading on the Toronto Stock Exchange Wednesday. “We don’t know what the computer will do.”
Hawkins stressed that the artificial intelligence behind the ETF, developed by Korea-based Qraft Technologies Inc., was rigorously back-tested over 10 years of market moves to make sure it learned how to interpret data and make smart investments. However, unlike human portfolio managers, it will never be able to explain why it made a particular decision.
“We don’t know why it’s going to be making those independent decisions, but from our rigoro…
2017-11-02 09:46:59-04:00

Top Wall Street quant Cliff Asness doesn’t believe A.I. will revolutionize investing

…Billionaire Cliff Asness downplayed the potential of machine learning and artificial intelligence to revolutionize investing.
“I’m a little bearish on the whole thing,” Asness said at the 2nd Annual Evidence-Based Investing conference in New York on Thursday. “Machine learning is basically a way to find more and more patterns. It can be used wisely.”
Asness said his firm is mainly using machine learning to improve its trade executions and figure out when to roll …
2017-11-03 00:00:00

BofE raises interest rates by 0.25 per cent

…anisations that are in a position to extract insights from the wealth of data available will be able to respond. A unified data analytics framework that leverages a variety of technologies, including artificial intelligence and machine learning, must be in place to move at speed and not get left behind.”
John Husselbee, Head of Multi-Asset at Liontrust comments that debate has turned to whether this marks the start of a sustained tightening cycle or simply represents a reversal of what critics now largely consider a premature cut in the aftermath of Brexit.
Husselbee says: “For my part, I would veer towards the la…
2017-11-02 00:00:00

AI manager Manifold to offer equities via Hydra

…g nearly USD1 billion in assets under management and/or supervision. Wall Street veterans, Donald H Putnam and James A Creighton continue to develop cutting edge systems at Manifold Partners by using machine learning and Artificial Intelligence to develop and combine securities price expectations.
“We are excited to be breaking new ground with the team at Kettera,” says Putnam, Manifold Partners Chairman. “Their Hydra marketplace is a flexible and resilient platform for leading equity strategies.”
“We are delighted to welcome Manifold Partners’ strategy to Hydra,” says Terri Engelman Rhoads (pictured), …
2017-11-03 00:00:00

Japan’s banks plan 33,000 job cuts in digital downsizing

…Japan’s megabanks are planning to make huge, long-term cuts to their workforces as they increasingly turn to artificial intelligence (AI) and automation in a bid to streamline operations and cut costs.
Leading the way is Mizuho Bank which reportedly plans to slash a third of its global workforce, 19,000 jobs in all, over the next ten years, according to Japanese media. Automation and greater use of AI and robots will be used to replace the absent staff. It already employs a robot in some of its branches to advise customers on…
2017-10-31 09:25:00

SoftBank CEO Defends Ending Sprint Talks, Sees Tough 3 Years

…ested billions in the past two years on the idea that smartphones, cars, roads, appliances and humans themselves will be connected through the internet, generating invaluable data to be analyzed with artificial intelligence and machine learning. He sees a realization of the singularity, where people live with technology integrated in their bodies, sooner than most people think. Wireless and satellite services are central to bringing that all together.
“Until now mobile was all about people communicating to other people, or people accessing the Internet,” Son said. “Next, it will be not just people, but things commu…
2017-11-06 00:00:00

Corvil unveils UTC traceability tool for MiFID II compliance

…pect so customers have a record of the affected transactions for closer examination, auditability, risk mitigation, and regulatory reporting purposes.
“As we shift to a world run by algorithms and artificial intelligence, there is a new reality of time that we must understand to provide oversight of what transpires digitally,” said David Murray, Chief Marketing and Business Development Officer. “Financial markets have moved first to regulate the precision by which time and events are captured within trading networks to help increase transparency and surveillance. Corvil’s UTC Traceability Solution provides an imp…
2017-11-02 13:41:00

SoftBank Gets Wild

…SoftBank shareholders will reap far smaller rewards.
Blade Runner 2017 Nvidia shares have delivered impressive returns to shareholders, including SoftBank, as the company benefits from a move toward artificial intelligence Source: Bloomberg
ARM Holdings Plc, the British semiconductor company that SoftBank bought 12 months ago, will also be reassigned to the Vision Fund. This may not be such a bad thing for SoftBank shareholders since Son has somehow managed to turn a decade of quarterly profit into two straight quarters of operating loss, widening most recently to 7.86 billion yen.
SoftBank derivatives loss 508 b…
2017-11-06 00:00:00

The biggest roadblock to AI adoption is a lack of skilled workers

…While there is nearly universal agreement that artificial intelligence offers the promise of revolutionary benefits, recent survey findings from Gartner reveal almost 60 percent of organizations surveyed have yet to take advantage of the benefits of AI. Perhaps even more surprisingly, only a little more than 10 percent of surveyed businesses have deployed or implemented any AI solution at all.
Based on the survey, there appears to be a gap between AI’s promise and …
2017-11-04 00:00:00

A Look At The Top 10 Tech Trends For 2018

…t this list of technology trends for next year. And, by the way, these ARE some really exciting trends that will be in the headlines next year. See, now you are so in front of the rest of the world.
Artificial intelligence will continue to dominate technology investments in 2018, along with cloud computing, the Internet of Things and customer-focused applications.
In their new report, “The Top 10 Technology Trends to Watch: 2018 To 2020 – Ten Trends Will Help You Maximize the Value of Business Technology,” Forrester Research analysts Brian Hopkins, Bobby Cameron, Ted Schadler and Rusty Warner offer their picks on …
2017-11-02 16:23:40-05:00

MarketX lets Chinese investors pour cash into pre-IPO tech firms

…latform Spotify, bulletin board site Pinterest and workplace messaging app Slack.
But they will also be given the opportunity to enter less tapped markets such as litigation finance and real estate, artificial intelligence, customizable portfolios driven by themes like health, and companies founded by Tesla’s Elon Musk.
“Our goal is to improve the access to U.S. financial products but also education for a new generation of wealthy individuals and institutions to access this pool of investments that previously was only free to really ultra-high networks of individuals and private banks,” Cathryn Chen, founder and C…
2017-10-30 00:00:00

Digital and Online Learning: A New Way to Pursue a Skill

…Hello, everyone! In my last article, I talked about what artificial intelligence technologies can do, that traditional technology cannot do. There is a number of different artificial intelligence techniques and algorithms that will help in achieving automation and creating intelligent machines, but that is not the case with traditional technologies. Traditional technologies such as Java, C++, C and others do not have such high feasibility in order to build smart systems. Thus…
2017-11-06 09:22:37+00:00

Cisco’s enterprise AI assistant strategy starts with this $55,000 whiteboard

…Spark Room series hardware, the first step in a larger plan to make an AI-powered meeting assistant available across all Cisco hardware. The Cisco Spark Assistant uses natural language processing and machine learning to understand what a person wants by harnessing technology from MindMeld, the AI startup Cisco acquired in May for $125 million.
The assistant will be available in early 2018, first packaged with the Cisco Spark Room 70. With a 70-inch LED screen, the single Room 70 costs $55,900 without a monthly subscription, while a dual Room 70 can be had for $79,900.
The Room 70 follows the release earlier…
2017-11-04 00:00:00

iPhone X launch: Apple turns away walk-up buyers in Seattle, tells customers to order online

The premium iPhone X marks the 10th anniversary of the revolutionary smartphone. It is priced at $999 and sports a 5.8-inch “Super Retina” display; an A11 Bionic chip with the capacity for powerful machine learning, augmented reality and 3D gaming; wireless charging; a pair of redesigned cameras and the ability to unlock the phone via facial recognition.
We caught up with folks outside the Apple Store on Friday — both those who pre-ordered and people who were turned away — to learn more about why they want the iPhone X.
“I’m an app developer and I feel like it’d be beneficial to have one, especially with …
2017-11-03 17:18:35+00:00

Here’s the real problem for tech companies trying to fix the fake news crisis

…ns worldwide given their successes to date. The old attack vectors of fake news and buying ads will be replaced by new attack vectors.
Second, much of this new use will be created and carried out by artificial intelligence software rather than humans sitting around coming up with the ideas. AI has become a useful tool because of cheap processing power, but also because of the almost limitless supply of data that can be used to train the AI software to perform specific tasks.
Putting controls on these platforms to solve the problems of the past few years is a fool’s errand. Our adversaries are creating new and impr…
2017-11-03 00:00:00

Uber AI Labs releases a programming language, its first public project

…Uber is sharing the fruits of its research into self-driving cars and artificial intelligence in general, releasing a new programming language called Pyro that aims to help developers create probabilistic models for AI research.
Pyro is the first public project released by Uber AI Labs, according to a company representative, and it was designed to make it easier to train computers to infer outcomes. “Pyro is a tool for deep probabilistic modeling, unifying the best of modern deep learnin…
2017-11-03 17:34:18+00:00