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Category: finance – Page 92

Venezuela’s government is planning to move to a fully digital economy as hyperinflation has made worthless bolivar notes practically disappear, and dollarization expands through the local financial system.

The U.S. dollar has operated as an escape valve for Venezuela amid U.S. sanctions and collapsing oil revenues, President Nicolas Maduro said in a televised interview with Telesur on Friday. He said 18.6% of all commercial transactions are in dollars, while 77.3% are carried out in bolivars with debit cards. Only 3.4% are paid with bolivar notes.

“They have a war against our physical currency. We are moving this year to a more profound digital economy, in expansion. I’ve set the goal of an economy that’s 100% digital,” Maduro said, adding that physical money will eventually disappear.

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Movie ratings can determine a movie’s appeal to consumers and the size of its potential audience. Thus, they have an impact on a film’s bottom line. Typically, humans do the tedious task of manually rating a movie based on viewing the movie and making decisions on the presence of violence, drug abuse and sexual content.

Now, researchers at the USC Viterbi School of Engineering, armed with artificial intelligence tools, can rate a movie’s content in a matter of seconds, based on the movie script and before a single scene is shot. Such an approach could allow movie executives the ability to design a movie rating in advance and as desired, by making the appropriate edits on a script and before the shooting of a single scene. Beyond the potential financial impact, such instantaneous feedback would allow storytellers and decision-makers to reflect on the content they are creating for the public and the impact such content might have on viewers.

Using artificial intelligence applied to scripts, Shrikanth Narayanan, University Professor and Niki & C. L. Max Nikias Chair in Engineering, and a team of researchers from the Signal Analysis and Interpretation Lab (SAIL) at USC Viterbi, have demonstrated that linguistic cues can effectively signal behaviors on violent acts, and (actions that are often the basis for a film’s ratings) about to be taken by a film’s characters.

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The shroud over P2P firms has fallen, with China’s banking regulator announcing last month that it had shut down all such platforms. However, the financial time bomb is far from being defused for millions of families who invested billions of yuan, and a very real concern exists that mishandling the situation could lead to social unrest.

The shroud over peer-to-peer lending firms has fallen, and China’s banking regulator says all such platforms across the country have ceased operations – but countless billions are already feared lost.

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Just in time for the Christmas holiday, Emotet is sending the gift of Trickbot.

After a lull of nearly two months, the Emotet botnet has returned with updated payloads and a campaign that is hitting 100, 000 targets per day.

Emotet started life as a banking trojan in 2014 and has continually evolved to become a full-service threat-delivery mechanism. It can install a collection of malware on victim machines, including information stealers, email harvesters, self-propagation mechanisms and ransomware. It was last seen in volume in October, targeting volunteers for the Democratic National Committee (DNC); and before that, it became active in July after a five-month hiatus, dropping the Trickbot trojan. Before that, in February, it was seen in a campaign that sent SMS messages purporting to be from victims’ banks.

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People who are sick can ask for EUA drugs, but you have to ask often. INDIANAPOLIS, Nov. 9, 2020 /PRNewswire/ — The U.S. Food and Drug Administration (FDA) today granted Emergency Use Authorization (EUA) for Eli Lilly and Company’s (NYSE: LLY) investigational neutralizing antibody bamlanivimab (LY-CoV555) 700 mg. Bamlanivimab is authorized for the treatment of mild to moderate COVID-19 in adults and pediatric patients 12 years and older with a positive COVID-19 test, who are at high risk for progressing to severe COVID-19 and/or hospitalization. Bamlanivimab should be administered as soon as possible after a positive COVID-19 test and within 10 days of symptom onset. The authorization allows for the distribution and emergency use of bamlanivimab, which is administered via a single intravenous infusion.

The Investor Relations website contains information about Eli Lilly and Company’s business for stockholders, potential investors, and financial analysts.

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THE FINANCE industry has had a long and profitable relationship with computing. It was an early adopter of everything from mainframe computers to artificial intelligence (see timeline). For most of the past decade more trades have been done at high frequency by complex algorithms than by humans. Now big banks have their eyes on quantum computing, another cutting-edge technology.

A fundamentally new kind of computing will shake up finance—the question is when.

Finance & economics Dec 19th 2020 edition.

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University of Copenhagen researchers have advanced their quantum technology to such a degree that classical computing technology can no longer keep up. They have developed a chip that, with financial backing, could be scaled up and used to build the quantum simulator of the future. Their results are now published in Science Advances.

First came Google. Now, researchers at the University of Copenhagen’s Niels Bohr Institute in collaboration with University of Bochum have joined Google in the race to build the world’s first quantum computer with what they are calling a “major breakthrough.”

“We now possess the tool that makes it possible to build a quantum simulator that can outperform a classical computer. This is a major breakthrough and the first step into uncharted territory in the world of quantum physics,” asserts Professor Peter Lodahl, Director of the Center for Hybrid Quantum Networks (Hy-Q).

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“We are allocating serious resources, both financial and administrative ones, on creation and development of technologies. It is not about spending these funds, purchasing high-status gadgets and other household appliances. Artificial intelligence is not about a so-called fashion hype or a prestigious trend, that will fade away, vanish tomorrow or the day after tomorrow. No, this will not happen,” the president noted.

He recalled that “global history knows many cases when large, global corporations and even countries literally slept through a technological breakthrough and were swept off the historical stage overnight.”

“We must remember this. I want my colleagues in ministries, departments, regions of the Russian Federation, in state companies, research centers and universities to hear me now: we have to tackle issues of a fundamentally new level of complexity,” the head of state said.

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Imagine an algorithm that reviews thousands of financial transactions every second and flags the fraudulent ones. This is something that has become possible thanks to advances in artificial intelligence in recent years, and it is a very attractive value proposition for banks that are flooded with huge amounts of daily transactions and a growing challenge of fighting financial crime, money laundering, financing of terrorism, and corruption.

The benefits of artificial intelligence, however, are not completely free. Companies that use AI to detect and prevent crime also deal with new challenges, such as algorithmic bias, a problem that happens when an AI algorithm causes systemic disadvantage for a group of a specific gender, ethnicity, or religion. In past years, algorithmic bias that hasn’t been well-controlled has damaged the reputation of the companies using it. It’s incredibly important to always be alert to the existence of such bias.

For instance, in 2019, the algorithm running Apple’s credit card was found to be biased against women, which caused a PR backlash against the company. In 2018, Amazon had to shut down an AI-powered hiring tool that also showed bias against women.

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