Hedge funds’ “star traders” are being booted out of the limelight in favour of data-driven strategies and artificial intelligence April 16, 2018 The hedge fund industry is at an “inflection point”, according to titans in the sector, which could see the idea of “star managers” take a back seat to artificial intelligence (AI) and data-driven strategies. Efficiency in markets and the wider availability of financial data has helped make it harder for hedge funds to produce returns [...]
Blockchain energy trading: London startup Verv has performed the UK’s first energy trade on the blockchain April 13, 2018 A London-based machine learning startup has completed the UK’s first physical trade of energy on the blockchain. Verv uses artificial intelligence (AI) to allow customers with renewable energy supplies and battery storage to sell surplus power directly to their neighbours. The firm is currently conducting a trial at Hackney’s Banister House Estate with hopes of [...]
UK venture capital investment slumps in Q1, though London fintech is still on top April 11, 2018 Venture capital (VC) investment has slowed considerably in the first quarter of 2018, according to a new study from advisory firm KPMG. VC investment in the first three months of the year rose just above $1bn (£705m), well short of the $2.8bn invested in the fourth quarter of 2017. The dip follows a blockbuster 2017, [...]
Interior design marketplace Eporta lands $8m funding from venture capital and angel investors including Guy Hands | City A.M. April 10, 2018 Interior design startup Eporta has nabbed $8m (£5.7m) in funding from an impressive list of venture capital firms and angel investors. London-based Eporta, which acts as a business-to-business marketplace where interior designers and offices can buy furniture from manufacturers directly, pulled in the cash in a series A round led by US firm Canvas Ventures. [...]
Shutterstock CEO Jon Oringer on putting profit first and selling his billionth image | City A.M. April 9, 2018 Many moons ago, there was a game called GoogleWhack. The objective was to return only one hit from a Google search query consisting of just two words. Naturally, with billions of pages indexed, it’s quite tough, and today, probably impossible. I propose a new, but similar, game using Shutterstock. Type in any two words, and [...]
Is Sadiq Khan letting London down as mayor? April 9, 2018 Is Sadiq Khan letting London down as mayor? Shaun Bailey, a Conservative London Assembly member who sits on the Environment Committee, says YES. All too often over recent weeks, the public have woken up to tragic headlines. News of yet another stabbing victim is an almost daily occurrence, and it is reported that, on some [...]
Back to school: We must teach AI to have a moral compass April 6, 2018 In the UK, it’s mandated that 13 of the first 18 years of a young person’s life are spent in some sort of education. We invest very heavily in teaching children what they need to know to be functioning and productive members of society: our doctors, our teachers, our data scientists of the future. Artificial [...]
Artificial intelligence fintech investment firm Arkera grabs £4m from investors including Brevan Howard’s Alan Howard April 5, 2018 Arkera, a new fintech app which uses artificial intelligence (AI) to aid personal investing, has raised £4m from investors including the co-founder of hedge fund Brevan Howard. Alan Howard led the funding round along with electronic trading firm XTX Markets, with additional input from payment services firm Docomo Digital, ex-Deutsche Bank chief operating officer Henry [...]
Blockchain firm targets “failing” online retailers April 3, 2018 Online retailers, often blamed for Britain’s high street funk, are set to face their own disruption from an artificial intelligence-driven platform. Blockchain firm Eligma is planning to raise £17m from the sale of tokens later this month. The digital currency can be used across a range of online stores. The firm has created a platform [...]
Emmanuel Macron faces down the unions in bid to modernise French economy April 2, 2018 Emmanuel Macron is trying to forge a new path for France, but his efforts reveal a fundamental tension between his ambition and the reality of the French condition. Last year, Macron’s government announced plans to liberalise the economy, starting with employment reform – an area that left his predecessors scarred. Changes to employment law, making [...]