Hedge Fund Disruption!
Machine learning is threatening to disrupt the hedge fund industry as AI becomes powerful enough to forecast market moves better than people. As the industry “struggles with middling performance and outflows,” excitement is building for AI fields to “unlock lucrative patterns” in Big Data, the Financial Times reports.
BNY Mellon advances artificial intelligence tech across operations | Reuters
Source: BNY Mellon advances artificial intelligence tech across operations | Reuters
Orange Bank to launch in France this summer
After acquiring 65% of France’s Groupama Banque last year, the French telecom company Orange will begin offering in-store and online-banking services this July. The company has partnered with IBM’s Watson artificial intelligence platform to assist customers with service support and new account creation.
Retaining AI talent top priority for Canada
As top artificial intelligence (AI) scientists being lured away to Silicon Valley each year, Canadian officials and technologists are exploring new ways to commercialize their AI expertise. One leading effort, the Vector Institute for Artificial Intelligence, will receive hundreds of millions in funding from Canada’s government and companies like Google, RBC, and Scotiabank.
Financial Institutions Using Artificial Intelligence
Deutsche Bank AG is using artificial intelligence to comply with “a vast body of financial regulations” that would otherwise take hours of manpower, the Wall Street Journal reported. “The move is designed in part to help reduce costs related to regulatory compliance as well as to improve accuracy when analyzing, say, employees’ interactions with clients,…
Artificial Intelligence Still Needs a Human Touch – WSJ
“This is a game about a bridesmaid. The objective is to reach the exit. Along the way, you must avoid the Daughters as they kill you. I use some sound effects …like the sound of a wedding. People feel bored by bridesmaids sometimes, so I chose a aggressive piece of music…Let me know what you…
How fintechs are using AI to transform payday lending | American Banker
Startups in the payday lending space say their use of artificial intelligence is allowing them to make better loans at lower rates with fewer defaults. “The power of artificial intelligence versus business intelligence is BI is purely retrospective, whereas AI looks forward into the future and predicts — what will this person do based on…
AI and Your Credit Score
Where are the credit scores of yesteryear? Writing in the American Banker, columnist Penny Crosman examines the impact of AI and proprietary credit scoring algorithms on the lending industry and consumers. While AI “offers lenders the ability to . . . score those previously deemed unscorable,” Crosman writes, “such scoring techniques also bring uncertainty.” Edited with…