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Archive for the ‘finance’ category: Page 131

Mar 14, 2017

Your brain is unique – here’s how it could be used as the ultimate security password

Posted by in categories: finance, internet, mobile phones, neuroscience, privacy, security

Biometrics – technology that can recognise individuals based on physical and behavioural traits such as their faces, voices or fingerprints – are becoming increasingly important to combat financial fraud and security threats. This is because traditional approaches, such as those based on PIN numbers or passwords, are proving too easily compromised. For example, Barclays has introduced TouchID, whereby customers can log onto internet banking using fingerprint scanners on mobile phones.

However, this is not foolproof either – it is possible to forge such biometrics. Fingers can after all be chopped off and placed by impostors to gain fraudulent access. It has also been shown that prints lifted from glass using cellophane tape can be used with gelatine to create fake prints. So there is a real need to come up with more advanced biometrics that are difficult or impossible to forge. And a promising alternative is the brain.

Emerging biometric technology based on the electrical activity of the brain have indeed shown potential to be fraud resistant. Over the years, a number of research studies have found that “brainprints” (readings of how the brain reacts to certain words or tasks) are unique to individuals as each person’s brain is wired to think differently. In fact, the brain can be used to identify someone from a pool of 102 users with more than 98% accuracy at the moment, which is very close to that of fingerprints (99.8% accuracy).

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Mar 13, 2017

A CEO explains why he doesn’t care about your résumé, your alma mater, or your last job when he’s looking to hire

Posted by in categories: business, education, finance

For United Shore CEO Mat Ishbia, it’s not about what you know.

Ishbia says that specific skills, such as salesmanship, graphic design, or programming, can be taught. Those don’t guarantee whether or not a candidate will succeed at the Troy, Michigan-based financial services business.

“I don’t care about your résumé,” Ishbia says. “I don’t care about what school you went to. I don’t care about what you did at your last company.”

Continue reading “A CEO explains why he doesn’t care about your résumé, your alma mater, or your last job when he’s looking to hire” »

Mar 11, 2017

An AI Completed 360,000 Hours of Finance Work in Just Seconds

Posted by in categories: finance, robotics/AI

Amazing…


A bank used AI to dramatically cut its workload.

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Mar 9, 2017

Data61 CEO Adrian Turner has a plan for the next jobs

Posted by in categories: business, economics, employment, finance, government

Forty per cent of Australia’s jobs will disappear in 10 years but the head of CSIRO’s data research unit has delivered an action plan for how they can be replaced.

“The fourth industrial revolution is under way and the winners will be so far ahead of the losers, Australia has no choice but to pivot to the new industries that will emerge,” Data61 chief executive Adrian Turner told The Australian Financial Review Business Summit on Wednesday.

Australia was already feeling the consequences of an economy whose greatest disruptors, such as Uber and Amazon, were mostly coming from elsewhere, Mr Turner said. He noted that GDP growth rates were below historic averages, government debt to GDP ratios were rising, wage growth was slowing and productivity plateauing.

Continue reading “Data61 CEO Adrian Turner has a plan for the next jobs” »

Mar 9, 2017

JPMorgan Software Does in Seconds What Took Lawyers 360,000 Hours — By Hugh Son | Bloomberg

Posted by in categories: automation, finance, innovation, robotics/AI, software

“At JPMorgan Chase & Co., a learning machine is parsing financial deals that once kept legal teams busy for thousands of hours.”

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Mar 5, 2017

Bitcoin ETF Buzz Offers Short Term Opportunity

Posted by in categories: bitcoin, cryptocurrencies, economics, finance, Mark Zuckerberg, policy

If you follow Bitcoin at all, then you know that its value is spiking. It has already surpassed a massive spike on Thanksgiving night 2013, and it has just surpassed the cost of an ounce of gold. [continue below image]

Like any commodity, the exchange value of Bitcoin is driven by supply and demand. But, unlike most commodities, including the US Dollar, the Euro or even gold, the eventual supply is capped. It is a mathematical certainty. Yet, demand is affected by many factors: Adoption as a payment instrument, early signs that it is being considered as a reserve currency, fascination by Geeks and early adopters and its use as a preferred tool by some criminals.

But chief among reasons for acquiring Bitcoin is speculation. Whether it is buy-and-hold or day trading, speculators still outnumber those who use Bitcoin to settle debts or to buy and sell other products and services. (Earlier this week, I argued that speculation is responsible for 85% of demand and of transactions—but that’s another story).

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Mar 4, 2017

Groundbreaking technology rewarms large-scale animal tissues preserved at low temperatures

Posted by in categories: biotech/medical, finance, nanotechnology

Great news and a very promising vector for near future innovation!


Inductive radio-frequency heating of magnetic nanoparticles embedded in tissue (red material in container) preserved at very low temperatures restored the tissue without damage (credit: Navid Manuchehrabadi et al./Science Translational Medicine)

A research team led by the University of Minnesota has discovered a way to rewarm large-scale animal heart valves and blood vessels preserved at very low (cryogenic) temperatures without damaging the tissue. The discovery could one day lead to saving millions of human lives by creating cryogenic tissue and organ banks of organs and tissues for transplantation.

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Mar 1, 2017

Singapore to implement a digital identity programme inspired by Estonia

Posted by in categories: finance, government, transportation

The nation of Singapore is planning to implement a digital identity programme that is inspired by the one in Estonia.

The aim of the programme is to revamp its current national IDs, potentially allowing citizens simpler access to government services, financial transactions, and more.

According to the country’s prime minister Lee Hsien Loong, Singapore is not “going as fast as we ought to” in its drive to implement digital solutions and improving in areas such as electronic payment and transportation, news portal Today Online reported.

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Feb 28, 2017

JPMorgan Software Does in Seconds What Took Lawyers 360,000 Hours

Posted by in categories: finance, law

Na JPMorgan Chase & Co., uma máquina de aprendizagem está analisando os acordos financeiros que antes mantinham equipes jurídicas ocupadas por milhares de horas.

O programa, chamado COIN, para o Contrato de Inteligência, faz a tarefa de interpretar acordos de empréstimo comercial que, até que o projeto foi lançado em junho, consumiu 360 mil horas de trabalho por ano por advogados e agentes de crédito. O software revê os documentos em segundos, é menos propenso a erros e nunca pede férias.

No que diz respeito à COIN, o programa ajudou a JPMorgan a reduzir os erros de manutenção de empréstimos, a maioria resultante de erro humano na interpretação de 12.000 novos contratos por ano, de acordo com os seus criadores.

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Feb 25, 2017

An AI Hedge Fund Created a New Currency to Make Wall Street Work Like Open Source

Posted by in categories: finance, robotics/AI

Wall Street is a Darwinian battle for the almighty dollar. But Richard Craib thinks his AI-powered hedge fund will soar if everyone can just get along.

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