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Category: finance – Page 130

Billionaire tech entrepreneur Mark Cuban has seen a ton of change since he first got in the technology business in 1982, but he argues that artificial intelligence (AI) is going to “change everything, 180 degrees.”

He warns that if the U.S. allows other countries to take the lead in AI, then it’ll be “SOL,” an acronym that employs profanity to communicate urgency.

“All these things have happened that have changed how we do business, changed how we lived our lives, changed everything, right, the internet. But what we’re going to see with artificial intelligence dwarfs all of that,” Cuban said in an interview with hedge fund manager J. Kyle Bass of Hayman Capital on RealVision Television, a subscription financial video service.

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“Former Executive Secretary to UNFCCC, Christiana Figueres has laid down a challenge to UNEP FI’s banking members, and the wider finance industry to increase their allocations to low carbon investments to avoid a 2 degrees scenario. Watch her recording which she made for participants at UNEP FI’s Europe Regional Roundtable on Sustainable Finance which took place in October 2017.”

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“Former Vice President and Chairman of Generation Investment Management, Al Gore, introduces PRI, UNEP FI and The Generation Foundation’s Fiduciary duty in the 21st century programme. The project finds that, far from being a barrier, there are positive duties to integrate environmental, social and governance factors in investment processes.”

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The world’s richest people have seen their share of the globe’s total wealth increase from 42.5% at the height of the 2008 financial crisis to 50.1% in 2017, or $140tn (£106tn), according to Credit Suisse’s global wealth report published on Tuesday.

At the other end of the spectrum, the world’s 3.5 billion poorest adults each have assets of less than $10,000 (£7,600). Collectively these people, who account for 70% of the world’s working age population, account for just 2.7% of global wealth.

Credit Suisse report highlights increasing gap between the super-rich and the remainder of the globe’s population.

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Artificial intelligence beats over 100 London lawyers in predicting case outcome:

In a contest that took place last month. It pitched over 100 lawyers from many of London’s ritziest firms against an artificial intelligence program called Case Cruncher Alpha.

Both the humans and the AI were given the basic facts of hundreds of PPI (payment protection insurance) mis-selling cases and asked to predict whether the Financial Ombudsman would allow a claim.

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In what promises to be one small step for space travel, and one giant leap for the next generation of manufacturing, an Israeli startup is planning to land a vehicle on the moon that has crucial parts made using 3D printing technology.

SpaceIL is among five teams vying for Google’s $30 million in prize money to get a spacecraft to the moon by the end of March. One of the startup’s suppliers, Zurich-based RUAG Space, advised turning to 3D printing to manufacture the legs of its unmanned lunar lander. With financial stakes high and a tight deadline, SpaceIL engineers were at first deeply skeptical, according to RUAG executive Franck Mouriaux. They finally acquiesced after a lot of convincing.

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