Big Data and Data Analytics in the News, Sept 26, 2017

Quantitative Strategy, Trading, and Algo Development Industry News

The evolving demands on financial services firms: Is your technology infrastructure ready?

… 1,000,000 times faster than an approach built on a disk-based database. It further benefits from the advantages of parallel processing across the server nodes. In-memory computing platforms can turn Big Data into Fast Data. For fraud detection, an in-memory computing platform can eliminate the need to export the data from the operational system to an offline analytical system for analysis, enabling faster and more accurate fraud detection. The distributed nature of an in-memory computing platform means it can process transactions and perform the required analysis in real-time. The benefits for regu…
2017-09-26 http://www.bobsguide.com/guide/news/2017/Sep/26/the-evolving-demands-on-financial-services-firms-is-your-technology-infrastructure-ready/

How AI is dominating the marketing? 5 real time observations

… a competitive advantage which is very difficult to replicate. Because artificial intelligence is not about technology, it is about delivering the perfect combination of content with context. Big data beget big complexities and machines are better equipped to unravel the enormous complexities in the case of big data. The introduction of new and more sophisticated technologies are available increasing the gap between strategy and system. Marketers and leaders are seeking alternatives to close this gap. Moreover, demand for customized conversions and personalized experiences is accelerating. …
2017-09-26 http://bigdata-madesimple.com/how-ai-is-dominating-the-marketing-5-real-time-observations/

AI solutions are only as effective as their KPIs

…Fueled by the exponential proliferation of big data, advances in AI have grown with unprecedented speed over the past decade. Programming AI is no longer an arduous process of building it line by line. Rather, AI is able to learn by itself, from itself. And the market has taken notice. In 2016, the enterprise market demand for AI-related products reached more than $8 billion. AI promises to transform business. Except … it hasn’t. From chatbots to…
2017-09-25 https://venturebeat.com/2017/09/25/ai-solutions-are-only-as-effective-as-their-kpis/

Envestnet to Acquire FolioDynamix

… we serve our customers,” Joseph Mrak, chairman and CEO of FolioDynamix, added. “Integrating FolioDynamix’s powerful trading tools into Envestnet’s unified wealth management, financial planning and data analytics platform offers each of our customers the best of both worlds.” The deal is expected to close by the end of the first quarter in 2018. In addition to FolioDynamix’s trading tools and commission and brokerage support, Envestnet also expects to acquire about $10 million in tax benefits, according to the company. In a statement, Envestnet said it believes the transaction will “be modestly accretiv…
2017-09-25  http://www.thinkadvisor.com/2017/09/25/envestnet-to-acquire-foliodynamix

Iress invests in Australian RegTech firm Lucsan

…a partnership that will accelerate the application of RegTech in the financial services landscape. IRESS is making an equity investment in Lucsan: an established, Australian-owned RegTech and data analytics company providing leading technology solutions to a wide range of companies, including Australia’s major banks. Lucsan’s vision is to help financial institutions proactively reduce the ongoing cost of compliance and implement improved practices with its RegTech solutions. The minority equity position will support Lucsan’s own growth strategy as it focuses on expanding its business in Australia…
2017-09-25 https://www.finextra.com/pressarticle/70835/iress-invests-in-australian-regtech-firm-lucsan

Digitised Banking is Now… Digital Banking is the Future

… to their consumers in the future. Digital Capabilities Digital Customer Experience – Including for On-boarding Personalisation and Individualized Experience Cross-sell/Up-sell Leverage data/Big data Emerging Technologies – AI/IoT/Blockchain Digital Banking – The Real Focus Digital banking is about creating new opportunities and these are underpinned by what is delivered against the list I have noted above. The key in all of this as it has been for years is the data, and how it is going to be contextually use to generate the true value. Digital banking should also be focused on customer en…
2017-09-24 https://www.finextra.com/blogposting/14533/digitised-banking-is-now-digital-banking-is-the-future

Nvidia targets China with hardware and unveils software to slash AI costs

…3 is a high-performance optimizing compiler and runtime engine for production deployment of AI applications. It can rapidly optimize, validate and deploy trained neural networks for inference to big data centers and other AI platforms. In other news, Huang said that China’s big hardware makers — Huawei, Inspur, and Lenovo — are using the Nvidia HGX AI server technology across their data centers. Nvidia is providing those companies with early access to its HGX reference designs for data centers. Those companies will use HGX as a starter recipe for using graphics processing units (GPUs) in the dat…
2017-09-25 https://venturebeat.com/2017/09/25/nvidia-targets-china-with-hardware-and-unveils-software-to-slash-ai-costs/

SEC sets up cyber enforcement division

… investors, from everything involving the sale of unsuitable structured products to microcap pump-and-dump schemes. This task force will apply the lessons learned from those cases and leverage data analytics and technology to identify large-scale misconduct affecting retail investors. The task force will include enforcement personnel from around the country and will work with staff across the SEC, including from the SEC’s National Exam Program and the Office of Investor Education and Advocacy. “Protecting the welfare of the Main Street investor has long been a priority for the Commission,” said St…
2017-09-26 https://www.finextra.com/pressarticle/70853/sec-sets-up-cyber-enforcement-division

Microsoft opens mysterious office in small town a ferry ride away from Seattle

… that the company has set up an office in Silverdale, but would not give further details. Evans’ Microsoft title is principal software architect. According to his LinkedIn bio, he is working on big data visualization and he is a fan of “applications that put humans first (beautiful, usable, fast, resilient).”…
2017-09-20  https://www.geekwire.com/2017/microsoft-opens-mysterious-office-small-town-ferry-ride-away-seattle/

How to Survive Wall Street’s Robot Revolution

… the tech as banks deploy it across their business. Or focus on relationship management, which probably can’t be done by computers. (Without customers, after all, banks have no business.) Or focus on data science, helping banks analyze and interpret the information that AI depends on. McKinsey’s Moon is a bit more blunt: “Learn to code in Python.” That’s the programming language used by investment banks including JPMorgan and Bank of America Corp. The Reference Shelf…
2017-09-25  https://www.bloomberg.com/news/articles/2017-09-25/how-to-survive-wall-street-s-robot-revolution-quicktake-q-a?cmpid=socialflow-twitter-business&utm_content=business&utm_campaign=socialflow-organic&utm_source=twitter&utm_medium=social