Chicago is becoming a top choice for insurance tech startups
… The company advertises on its website that 19 percent of its customers switched from Allstate and 16 percent from State Farm.
The startup, which has raised $60 million in funding to date, powers an artificial intelligence-based app that processes claims quickly and cheaply. Renters’ insurance starts at $5 per month and homeowners’ starts at $25 per month. Additionally, Lemonade donates any unused claim money to a charity of the user’s choice, eliminating their conflict of interest with keeping customers’ money as profit. It operates in New York, Illinois, California, Texas, and New Jersey.
“Insurance should and c…
2017-09-29 00:00:00 https://venturebeat.com/2017/09/29/chicago-is-becoming-a-top-choice-for-insurance-tech-startups/
The Massive Hedge Fund Betting on AI
…blink.” About five years ago, he did, though—in a big way. What spooked him was an experiment at his firm, Man Group Plc. Engineers at the company’s technology-centric AHL unit had been dabbling with artificial intelligence—a buzzy, albeit not widely used, technology at the time. The system they built evolved autonomously, finding moneymaking strategies humans had missed. The results were startlingly good, and now Ellis and fellow executives needed to figure out their next move.
Man Group, which has about $96 billion under management, typically takes its most promising ideas from testing to trading real money withi…
2017-09-27 00:00:00 https://www.bloomberg.com/news/features/2017-09-27/the-massive-hedge-fund-betting-on-ai
Prattle Launches Equities Analytics Platform
…analysts to predict the market impact of central bank and corporate communications. Prattle’s new Equities Analytics platform uses a combination of natural language processing, sentiment analysis and machine learning to create a unique lexicon for each company, then uses that information to quantify the market impact of an earnings call based on the historical relationship between the company’s language and corresponding market activity.
“Analysts are inundated with potentially useful information to inform their investment strategies, but they lack the time to sift through that information and remain informe…
2017-09-29 10:20:29+00:00 https://marketsmedia.com/prattle-announces-launch-equities-analytics-platform/
Morgan Stanley Hones Advisers with Machine Learning
…ir 16th birthday,” said Kovel. “Now, they will know when their clients are about to have a life event and help them plan for those events.”
Morgan Stanley’s wealth management business has been using machine learning for the past to refine and personalize its research offerings.
“Back in the 00s, we used to carpet bomb our research to every single client without knowing what they wanted to read,” explained Kovel.
For the past five years, the asset manager has constructed client profiles regarding what research they read.
“By putting research consumers into groups, it also helps us recommend research that t…
2017-09-27 17:09:36+00:00 https://marketsmedia.com/morgan-stanley-hones-advisers-machine-learning/
In Battle for AUM, Gen X Is Advisors’ Secret Weapon
…ey’re looking for is easy access to their account information, according to Stich. They want an online portal and account aggregation, not risk questionnaires and portfolio recommendations powered by artificial intelligence….
2017-09-25 00:00:00 http://www.thinkadvisor.com/2017/09/25/in-battle-for-aum-gen-x-is-advisors-secret-weapon
Commentary: The coming robot arms race
…me see a very real risk control might pass beyond human beings altogether.
Tech entrepreneur Elon Musk has long warned that humanity might be on the verge of some cataclysmic errors when it comes to artificial intelligence. Last month, he ramped that up with a warning that the development of autonomous weapons platforms might provoke a potentially devastating arms race.
As if to reinforce Musk’s point, Russian President Vladimir Putin told students shortly thereafter that he believed the technology would be a game changer, making it clear Russia would plow resources into it. “The one who becomes leader in this wil…
2017-09-19 06:43:20+00:00 http://www.reuters.com/article/us-apps-robots-commentary/commentary-the-coming-robot-arms-race-idUSKCN1BT1XN
Can This Man Return AIG to Glory?
…will sharply reduce accidents and the number of cars and thus demand for insurance coverage. But even before then, AIG and other traditional heavyweights will have to aggressively adopt algorithms, artificial intelligence, and machine learning to improve risk analysis. “The application of technology in underwriting is still in its infancy,” says Greg Locraft, Baltimore-based insurance analyst at T. Rowe Price, which includes AIG shares among its $904 billion in assets under management.
Long odds have never daunted Duperreault. No actuarial table would have given him a ghost of a chance to rise to the top of the i…
2017-09-29 12:00:00 http://www.institutionalinvestor.com/article/3752828/asset-management-macro/can-this-man-return-aig-to-glory.html
AI dissonance will end when we ask the right questions in the boardroom
…There is a disturbing movement among technology companies today. Many claim to be using artificial intelligence in one way or another, but more often than not, these claims are a massive exaggeration.
This may be hard to believe, especially in the age of the Elon Musk’s warnings about a potential global apocalypse caused by AI. While Musk’s warnings may be justified, they’re hardly relevant — AI is still playing around in the wading pool of what is and isn’t possible.
Do you have an AI strategy — or hopi…
2017-09-29 00:00:00 https://venturebeat.com/2017/09/29/ai-dissonance-will-end-when-we-ask-the-right-questions-in-the-boardroom/
Why your ‘personal’ data is anything but: Q&A with Washington state’s first chief privacy officer
…nies in the 1990s, to the growth of the internet through e-commerce that we’ve all experienced in the last 10 years, particularly in the Seattle area. And now we’re going to be into a new frontier of artificial intelligence and machine learning. The fear factor is that machines will be making decisions for us. I’m sure that there are some very practical reasons to have that done. And yet we don’t want machines to be making major decisions that affect our privacy and our safety.
A really interesting legal question has come up recently and that is: Can machines make contracts between themselves? You can negotiate a c…
2017-09-26 18:54:45+00:00 https://www.geekwire.com/2017/personal-data-anything-qa-washingtons-first-chief-privacy-officer/
Cyber Security Regulations : Financial Services
…yber security, which means relentlessly pursuing new technologies. When it comes to protecting consumer data, firms must comply with state, federal, and international privacy laws. With the advent of artificial intelligence which will present new risks, banks and financial services firms must find ways to effectively combat these risks.
Firms should consider cyber security, anti-fraud, and AML efforts. They should also launch a risk-based cybersecurity program while simultaneously complying with regulatory requirements. To conclude, when it comes to developing new products and services, the financial firms and bank…
2017-09-29 18:07:05 https://www.finextra.com/blogposting/14569/cyber-security-regulations–financial-services#comment
Tutorial to deploy Machine Learning model in Production as API with Flask
…functionality and provide the outcome to the user software.
You can read this article to understand why APIs are a popular choice amongst developers:
Majority of the Big Cloud providers and smaller Machine Learning focussed companies provide ready-to-use APIs. They cater to the needs of developers / businesses that don’t have expertise in ML, who want to implement ML in their processes or product suites.
One such example of Web APIs offered is the Google Vision API
All you need is a simple REST call to the API via SDKs (Software Development Kits) provided by Google. Click here to get an idea of what can b…
2017-09-28 23:23:56+05:30 https://www.analyticsvidhya.com/blog/2017/09/machine-learning-models-as-apis-using-flask/
Oracle co-founder Larry Ellison slams Amazon Web Services in OpenWorld keynote, also mentions new database product
…fering a 99.995 percent uptime guarantee, which works out to 30 minutes of downtime a year, he said.
“This is the most important thing we’ve done in a long time,” Ellison said. The new database uses machine learning to automate the human labor involved in database maintenance, like patching and tuning, he said.
But for all of Ellison’s comments on the new database, he spent a good chunk of his time attacking Redshift, Amazon’s data warehouse product, as inflexible, expensive, sneaky (if you “read the fine print”), and the wrong color. (I made one of those up.) He charged that the service-level agreement for…
2017-10-02 03:10:03+00:00 https://www.geekwire.com/2017/oracle-co-founder-larry-ellison-slams-amazon-web-services-openworld-keynote-also-mentions-new-database-product/#disqus_thread
Oracle’s new database uses machine learning to automate administration
…Oracle wants to make it easier for customers to power their businesses with its database. The company today unveiled a new 18c version of its marquee database software that uses machine learning to help protect customer data and automate the management of their information.
The software will use machine learning on top of a wealth of log data to help optimize the database for frequent use patterns through caching, indexing, and other techniques. In addition, it will ensure that customers don’t have someone using stolen credentials to access business data. The database software will also…
2017-10-01 00:00:00 https://venturebeat.com/2017/10/01/oracles-new-database-uses-machine-learning-to-automate-administration/
How to Survive Wall Street’s Robot Revolution
…l, co-founder of quant hedge fund Two Sigma, is worried that machines will soon make swaths of the workforce obsolete. But all hope is not lost.
1. What makes robots qualified for Wall Street work?
Artificial intelligence, a branch of computer science, which aims to imbue machines with aspects of reasoning. Today, the term includes machine learning, which is the ability for computers to learn by ingesting data, and natural language processing — the ability to read or produce text. Robotic process automation is a more simple form of AI that performs rote tasks like answering administrative requests.
2. Who is mos…
2017-09-25 00:00:00 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
Feasibility of the futuristic predictions in ‘Blade Runner’
…, will be in theaters soon. I can’t wait, because the original was not only a technological tour de force when it was released in 1982, it also offered a critical perspective on the future of robots, artificial intelligence, and our possibly dystopian future.
Blade Runner explored our fascination with — and fear of — futuristic worlds where AI dominates and it is impossible to tell who’s who in the battle between good and evil. Because I’m in the AI business, I often ponder how realistic these cinematic worlds really are and what the media depictions get right and wrong.
Do you have an AI strategy — or are hoping …
2017-09-30 00:00:00 https://venturebeat.com/2017/09/30/a-game-of-true-or-false-with-blade-runners-futuristic-predictions/
Microsoft Teams to replace Skype for Business as main meeting tool for Office 365 customers
…the preview version last November and its official launch in March, with more coming all the time. The latest center around a concept Markezich called “intelligent communications.” Microsoft will use machine learning and concepts like translation and speech recognition to automate parts of meetings to make it easier to prepare and follow up.
Earlier this month, Microsoft said Teams is now being used by 125,000 organizations, up from 50,000 at its March launch.
Microsoft Teams is included at no extra charge in business editions of Office 365 subscription service and is available in 181 markets around the wor…
2017-09-25 13:00:52+00:00 https://www.geekwire.com/2017/microsoft-teams-will-someday-replace-skype-business-primary-meeting-program-cloud-connected-office-365-customers/#disqus_thread
We knocked on the door at Microsoft’s mysterious small-town office, and here’s what we found
…t, Flux, and Relay.”
Senior software architect Bryan Tower spent 16 years at ATS before coming to Microsoft’s Silverdale office. Here’s what he is working on, according to his LinkedIn bio: “I apply machine learning algorithms to big data sets to help create predictive analytics. I use Apache Spark and Azure to produce interesting results.”
A lot of people have come out of the defense industry or plucked talent out of the defense industry to build their companies here, and I see that more and more. I think Microsoft is also seeing that as they look to Nathan Evans to head up that Silverdale office with a fo…
2017-09-27 17:45:16+00:00 https://www.geekwire.com/2017/knocked-door-microsofts-mysterious-small-town-office-heres-found/
Why the Economy Grows But Your Paycheck Doesn’t
… jobs at risk, there was less room for American workers to ask for higher pay. Technological advances also made it easier for machines to replace workers, especially for routine and repetitive tasks. Artificial intelligence is even threatening Wall Street jobs.
7. And what about demographics?
Experienced, higher-paid baby boomers are retiring out of the workforce and getting replaced by younger employees at lower salaries. The downward pressure from this demographic trend will worsen as America ages.
8. Is there anything labor unions can do?
Declining union membership has overlapped with the slow growth of paych…
2017-10-02 00:00:00 https://www.bloomberg.com/news/articles/2017-10-02/why-the-economy-grows-but-your-paycheck-doesn-t-quicktake-q-a
CloudQuant note – maybe you should be looking to build a trading algo and licensing it to CloudQuant so you can supplement your income and have your own income stream separate from your paycheck.
Microsoft CEO Satya Nadella: AI should be open like PCs, not closed like the App Store
…Microsoft CEO Satya Nadella has criticised the closed nature of mobile app stores, and said the burgeoning field of artificial intelligence should be an open ecosystem.
His comments are a warning shot to Apple, which pioneered a “walled garden” model for iOS and the App Store, shutting out competitors. The model is hugely successful, with Apple’s App Store revenues estimated at around $28 billion (£21 billion) last year, while Microsoft is on its last gasp in mobile, with 1% global market share.
Nadella, speaking to reporters in Lo…
2017-09-29 00:00:00 http://uk.businessinsider.com/microsoft-ceo-satya-nadella-ai-should-be-open-2017-9?utm_source=feedburner&utm_medium=referral
Mobile chip giant Arm opening Bellevue office with focus on artificial intelligence and IoT development
…ally every smartphone on the planet, is opening a Bellevue-based engineering center as it eyes the talent pool in the Pacific Northwest.
The new office will be working on research and development of artificial intelligence, robotics, and health care, Arm said in a blog post announcing the move. “Due to the density of major cloud and IoT players in the region, and their investments in machine learning and artificial intelligence, Seattle is the ideal place to work alongside customers and partners who are building the software and services that will power and connect the next 100 billion Arm-based devices,” wrote Rex…
2017-09-26 21:26:56+00:00 https://www.geekwire.com/2017/mobile-chip-giant-arm-opening-bellevue-office-focus-artificial-intelligence-iot-development/
Cramer: A.I. is like steroids for business—competitors have to keep up
…Many may think that artificial intelligence will eventually make human capabilities obsolete, but CNBC’s Jim Cramer wanted to refine that theory.
“I get the sense that when it comes to the power of artificial intelligence, we’re thinking way too small,” the “Mad Money” host said. “We don’t understand that AI might hold the key to all of sales if we simply learn how to harness it.”
After all, the amount of relevant, useful data in the wor…
2017-09-29 00:00:00 https://www.cnbc.com/2017/09/29/cramer-a-i-is-like-steroids-for-business-competitors-have-to-keep-up.html
Salesforce promises more accurate sales forecasts with Einstein artificial intelligence
…sales forecasting can make or break companies and careers. Salesforce thinks it has found a way to improve forecasting accuracy in its Einstein Sales Cloud product with everyone’s go-to tool of late, artificial intelligence.
The company will introduce Einstein Forecasting on Tuesday, the one-year anniversary of its Einstein AI push to use machine learning on customer data in hopes of unlocking a deeper understanding of that data. The new product is aimed at sales managers who carefully weigh their pipelines and prospects in clunky spreadsheets only to make precarious forecasts, said Lynne Zaledonis, vice president …
2017-09-19 12:00:01+00:00 https://www.geekwire.com/2017/salesforce-promises-accurate-forecasts-einstein-forecasting/#disqus_thread
Apple just released a major software upgrade for your Mac — here’s how to get it
… case, graphics processors). Because of the focus on graphics — via a feature called Metal 2 — the new operating system will also allow developers to better take advantage of new technologies such as machine learning and virtual reality.
Upgrading is free. Here’s how to get it, according to Apple:
1. Make sure you’re eligible: Most Macs introduced in 2010 and beyond, as well as some Macs introduced in 2009, can run High Sierra, although different features have different requirements (especially if it requires linking up with an iPhone or Apple Watch). If you’re not sure what kind of Mac you have, you can cl…
2017-09-25 00:00:00 https://www.cnbc.com/2017/09/25/how-to-get-macos-high-sierra.html