The New York Times’ Dealbook explores the growing adoption of computer-driven, quantitative strategies in the world’s largest hedge funds. To combat “dismal returns and investor criticism over high fees,” hedge funds are increasingly replacing big-name investors with “teams of [Ph.D.s]” to develop trading algorithms. Can AI be far behind?
The American Banker’s Penny Crosman discusses the use of artificial intelligence (AI) by the Nasdaq exchange to “help it detect market abuse.” The exchange sees 14 million trades per day, an impossible number to review for humans alone. AI provides “the best detection mechanism possible,” said Nasdaq’s head of risk and surveillance.
WASHINGTON — For about $50, you can get a smartphone with a high-definition display, fast data service and, according to security contractors, a secret feature: a backdoor that sends all your text messages to China every 72 hours. Security contractors recently discovered preinstalled software in some Android phones that monitors where users go, whom they…
A mobile number can be even more valuable than a Social Security number, since it’s tied to so many databases and connected to a device you carry with you. Source: A 10-Digit Key Code to Your Private Life: Your Cellphone Number – The New York Times
For IBM the irony lies in the fact that senior bank executives say they believe its artificial intelligence software could help them achieve cost-cutting goals in coming years, but are not ready to pay for Watson today. Several technology executives from large banks told Reuters that while the software may have enormous potential, they would…
Insurance giant Allstate has raised eyebrows after being granted patents for a proposed high-tech surveillance system that could track a driver’s every move. The company won patents for technology that, Source: How much privacy are drivers willing to give up for better car insurance rates?
This will hit college students hard. The US’s middle classes are drenched in debt and demand is slowing. So how do banks build profits? By bending the rules. Two of the top credit analytics companies are exploring new ways of assessing consumers’ ability to handle loans . . . . Source: Being ‘wasted’ on Facebook…
Consumers Dislike Data-Mining but Feel Helpless to Stop It, Report Finds – NYTimes.com.
Player tracking systems revealed more than a pit boss ever could: over time, Harrah’s can create a portrait of the person’s risk profile, including how much money a player typically loses before they stop playing and what kinds of gifts to give them to keep them on the gaming floor. Sometimes, that can be a…
The Sensor-Rich, Data-Scooping Future – NYTimes.com.
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