AI can liberate humans to lead happier lives, if we get it right September 11, 2017 Discussions around artificial intelligence (AI) provoke both excitement and fear in strong measure. Just last week, Elon Musk predicted that AI will be the most likely cause of World War III (although perhaps he just wasn’t following President Donald Trump closely enough). As happens so often with new advances, policymaking lags significantly behind. We must [...]
UK artificial intelligence startup FiveAI lands £14m series B from Lakestar Capital, an early Facebook and Spotify backer September 6, 2017 The venture fund set up by an early backer of Facebook, Spotify and Skype has invested millions in a UK artificial intelligence startup that is planning on getting driverless cars on the road. Lakestar Capital has led the £14m series B round into FiveAI, the company working with Mclaren technologies and Transport for London on [...]
Could robots reduce the state pension age? The TUC union thinks artificial intelligence will help us retire early September 4, 2017 Fancy retiring early than expected? The nation could get a helping hand to kick back and relax ahead of time thanks to robots and artificial intelligence. There may be fears around the technology taking jobs, but in fact, one of the benefits could be a reduction in the state pension age, which has steadily risen [...]
Fintech could be risky if banks don’t cooperate, says the Bank for International Settlements August 31, 2017 Banks will need to take measures over the coming years to mitigate the risks of financial technology (fintech), according to a new report from the Bank for International Settlements (BIS). The central bankers’ bank has set up a task force to “provide insight” into the new technology and “explore the implications” for current business models. [...]
UK drone firm wins the backing of Japanese industrial giant Mitsui August 31, 2017 A UK-based drone company is set to receive a $4m (£3m) investment from Japanese conglomerate Mitsui. Sky Futures provides drone-based industrial inspection technology. With drones, companies can more safely inspect industrial equipment like oil rigs. The strategic partnership, to be announced today, is launched in tandem with Prime Minister Theresa May’s visit to Japan. It [...]
Estonia proposes estcoin, a government backed cryptocurrency, issued via an initial coin offering (ICO) after e-residency success August 22, 2017 Estonia is living up to its digital reputation and setting tongues wagging with its latest idea: its very own digital currency issued via an initial coin offering (ICO). The buzz word of the moment in the heady world of cyptocurrencies, ICOs, are being used to raise cash via a digital token that’s issued to investors. [...]
The CBI aims to drive UK manufacturing to fresh highs as it sets up new council with Ineos director Tom Crotty at the helm August 14, 2017 The Confederation of British Industry (CBI) is setting up a manufacturing council in an effort to support the industry. The chief executive-level council will bring together dozens of the UK’s top manufacturers, and will be headed by chemical giant Ineos’ group director Tom Crotty. Crotty said: “A vibrant manufacturing sector is essential to the growth [...]
The gender retirement gap: Why women are more likely to fall into poverty in retirement August 14, 2017 “The retirement issue is the single largest issue we will be facing in the 21st century.” Diane Garnick told participants at the 2017 CFA Institute Wealth Management Conference in Nashville, Tennessee, USA that “when people do not save for retirement, they are in big trouble.” Advisers must be ready to address these concerns. “The big [...]
How to get ahead in fintech: Four courses for studying banking disruption August 13, 2017 There’s one word on everyone’s lips in the Square Mile and beyond these days… fintech. For the uninitiated, the portmanteau of financial technology threatens to bring the disruptive innovation felt already in industries such as retail by the likes of Amazon to the traditional world of banking. And for those looking to stay ahead of [...]
Behind the hype: Machine learning in investment management August 11, 2017 In a recent article, I discussed some of the significant progress being made in machine learning–enabled artificial intelligence and some of its potential drawbacks as well as the challenges it poses for regulators. Now, I want to bring your attention to a very interesting Barclays report that looks at the deployment of quantitative fund strategies, [...]