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Archive for the ‘finance’ category

Oct 10, 2019

France Set to Roll Out Nationwide Facial Recognition ID Program

Posted by in categories: finance, government, robotics/AI, security

With the move, France will join states around the world rushing to create “digital identities” to give citizens secure access to everything from their taxes and banks to social security and utility bills. Singapore uses facial recognition and has signed an accord to help the U.K. prepare its own ID system. India uses iris scans.


France is poised to become the first European country to use facial recognition technology to give citizens a secure digital identity — whether they want it or not.

Saying it wants to make the state more efficient, President Emmanuel Macron’s government is pushing through plans to roll out an ID program, dubbed Alicem, in November, earlier than an initial Christmas target. The country’s data regulator says the program breaches the European rule of consent and a privacy group is challenging it in France’s highest administrative court. It took a hacker just over an hour to break into a “secure” government messaging app this year, raising concerns about the state’s security standards.

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Oct 9, 2019

Financial services sector needs rewiring as digital assets gain greater institutional acceptance

Posted by in categories: economics, finance

Digital assets will only continue to grow. With clearer regulation coming in the near future, large financial institutions such as banks and asset managers will have the official ‘stamp of approval’ needed to participate in the market, driving tokenisation of existing asset classes and substantial capital inflows to the sector.


How investment in safekeeping technology will help determine the winners in Asia’s new token economy.

Oct 6, 2019

International Co-operation to Ensure the Health of all the World’s Citizens

Posted by in categories: biotech/medical, finance, life extension

Ira Pastor, ideaXme longevity and aging ambassador and founder of Bioquark, interviews Ambassador Juan José Gómez Camacho, Mexico’s current Ambassador to Canada, and for the last 3 years, Mexico’s Permanent Representative of the United Nations in New York City.

Ira Pastor Comments:

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Oct 6, 2019

Bank employs AI-powered ‘digital DNA human’

Posted by in categories: biotech/medical, finance, robotics/AI

Bank employs AI-powered “digital DNA human”

Arab Banking Corporation (Bank ABC), in collaboration with New Zealand tech company, Soul Machines, has announced the launch of “Fatema” – a fully autonomous AI personality that will assist customers online.

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Oct 5, 2019

‘Goliath Is Winning’: The Biggest U.S. Banks Are Set to Automate Away 200,000 Jobs

Posted by in categories: employment, finance, robotics/AI

Over the next decade, U.S. banks, which are investing $150 billion in technology annually, will use automation to eliminate 200,000 jobs, thus facilitating “the greatest transfer from labor to capital” in the industry’s history. The call is coming from inside the house this time, too—both the projection and the quote come from a recent Wells Fargo report, whose lead author, Mike Mayo, told the Financial Times that he expects the industry to shed 10 percent of all of its jobs.

Oct 4, 2019

FIRST UP | Intuitive Machines hires SpaceX for 2021 rideshare • Maxar awards contract for Gateway arrays • OrbitFab raises $3M for propellant depots

Posted by in categories: finance, satellites, solar power, sustainability

Lunar lander developer Intuitive Machines has signed a contract with SpaceX for its first mission to the moon. The company announced this week that a Falcon 9 will launch its Nova-C lander in 2021 as part of a rideshare mission, but terms of the deal were not disclosed. The company won a contract from NASA in May to carry five payloads to the moon on that mission as part of the agency’s Commercial Lunar Payload Services program. Separately, a federal appeals court this week upheld a verdict in favor of the company in a suit against Moon Express, another commercial lunar lander company. That suit, involving work disputes between the companies, led to Intuitive Machines receiving $4.1 million in cash and stock. [SpaceNews]

Maxar Technologies awarded a contract to Deployable Space Systems to manufacture flexible solar arrays for the first element of NASA’s lunar Gateway. The contract this week is for a pair of Roll Out Solar Array solar panels, each capable of producing 32.5 kilowatts of power. The arrays will be used on the Power and Propulsion Element that Maxar is building for NASA that will serve as the foundation for the Gateway in orbit around the moon. [SpaceNews]

A startup planning propellant depots in orbit for refueling satellites has raised $3 million. OrbitFab announced Thursday it raised the seed round of funding from venture capital fund Type 1 Ventures, Techstars and others. The company is working on technology to allow for refueling of satellites using small depots in orbit, and recently tested that technology on the International Space Station. At a conference in Washington earlier in the week, the company said it was still working on raising a funding round but hopes to have its first tanker in orbit by the end of next year. [TechCrunch].

Oct 1, 2019

How AI will transform healthcare (and can it fix the US healthcare system?)

Posted by in categories: finance, internet, quantum physics, robotics/AI

This thorough review focuses on the impact of AI, 5G, and edge computing on the healthcare sector in the 2020s as well as a look at quantum computing’s potential impact on AI, healthcare, and financial services.

Oct 1, 2019

Rapture of the nerds: will the Singularity turn us into gods or end the human race?

Posted by in categories: biotech/medical, finance, information science, mathematics, robotics/AI, singularity

Circa 2012


Hundreds of the world’s brightest minds — engineers from Google and IBM, hedge funds quants, and Defense Department contractors building artificial intelligence — were gathered in rapt attention inside the auditorium of the San Francisco Masonic Temple atop Nob Hill. It was the first day of the seventh annual Singularity Summit, and Julia Galef, the President of the Center for Applied Rationality, was speaking onstage. On the screen behind her, Galef projected a giant image from the film Blade Runner: the replicant Roy, naked, his face stained with blood, cradling a white dove in his arms.

At this point in the movie, Roy is reaching the end of his short, pre-programmed life, “The poignancy of his death scene comes from the contrast between that bitter truth and the fact that he still feels his life has meaning, and for lack of a better word, he has a soul,” said Galef. “To me this is the situation we as humans have found ourselves in over the last century. Turns out we are survival machines created by ancient replicators, DNA, to produce as many copies of them as possible. This is the bitter pill that science has offered us in response to our questions about where we came from and what it all means.”

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Sep 30, 2019

Unbridled Adoption Of Artificial Intelligence May Result In Millions Of Job Losses And Require Massive Retraining For Those Impacted

Posted by in categories: finance, robotics/AI, transportation

PricewaterhouseCoopers, the large accounting and management consulting firm, released a startling report indicating that workers will be highly impacted by the fast-growing rise of artificial intelligence, robots and related technologies.

Banking and financial services employees, factory workers and office staff will seemingly face the loss of their jobs—or need to find a way to reinvent themselves in this brave new world.

The term “artificial intelligence” is loosely used to describe the ability of a machine to mimic human behavior. AI includes well-known applications, such as Siri, GPS, Spotify, self-driving vehicles and the larger-than-life robots made by Boston Robotics that perform incredible feats.

Sep 30, 2019

Financial fraud detection systems get smarter with AI

Posted by in categories: finance, robotics/AI

Fintech risk management systems are getting a makeover. By adding machine learning technologies to their traditional rules-based fraud management systems, banks hope that they can do better at catching real criminals while declining fewer legitimate credit card transactions. ML technologies, though, have their own gotchas.

Here and there, although not necessarily everywhere, banks are introducing machine language technologies into their fraud detection systems. Essentially, the objective is twofold: to detect real incidents of fraud quickly and accurately, and to do so while preventing false positives, in which legitimate transactions are wrongly tagged as suspicious.

Large banks have led the way in spending on ML-enabled risk management, says Steven D’Alfonso, a research director at IDC responsible for compliance, fraud, and risk analytics strategies for IDC Financial Insights. Lots of bigger banks plan to expand the artificial intelligence (AI)-enabled fraud detection systems into enterprise-wide decision support systems. Many smaller banks that haven’t yet embarked on ML are expected to follow by signing on for ML managed services.

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