Artificial Intelligence
New Conference Explores Fast-Growing Area of AI in Finance
New York, NY, Oct. 06, 2020 (GLOBE NEWSWIRE) — ACM, the Association for Computing Machinery, will hold the inaugural ACM International Conference on AI in Finance (ICAIF), virtually from October 14-16. Advances in artificial intelligence are having significant impacts on finance, including financial markets, financial services, and the global financial system more broadly. ICAIF is a new scholarly conference to bring together researchers from a variety of disciplines to share technical advances and insights on the effects of AI on the finance world. The ICAIF conference includes participation from academia, government, regulatory agencies, financial institutions, NGOs and other stakeholders in the AI and finance communities.
“AI is transforming the finance industry at every level, from the consumer, who might be interacting with an intelligent chatbot during an online banking session, to a bank CEO, who may be investing in new AI technologies to better predict trends, increase revenues, and find more efficient ways to keep financial systems secure,” explained ICAIF Program Chair Tucker Balch, J.P. Morgan AI Research. “We’ve put together a dynamic program of work from top researchers and we invite everyone who has a stake in how AI is shaping finance to join us by registering for the conference.”
Visit here to view the entire program.
2020 ACM ICAIF HIGHLIGHTS
ICAIF features a distinguished slate of keynote speakers:
Marcos López de Prado, Founder and CIO of True Positive Technologies; Author, “Advances in Financial Machine Learning”
Charles Elkan, Managing Director, Goldman Sachs
Yolanda Gil, Research Professor of Computer Science and Spatial Sciences and Principal Scientist at USC Information Sciences Institute
Michael Kearns, Professor and National Center Chair, Computer and Information Science at the University of Pennsylvania
Susan Tibbs, Vice President, Market Regulation, FINRA
Jeannette Wing, Professor and Director, Data Science Institute, Columbia University
Research Highlights (Select Papers) From ICAIF
Below are highlighted papers. For the full list of papers, visit here.
“Machine learning methods to detect money laundering in the Bitcoin blockchain in the presence of label scarcity”
Joana Lorenz, NOVA-IMS, Feedzai; Maria Inês Silva, David Aparício, João Tiago Ascensão, Pedro Bizarro, Feedzai
Every year, criminals launder billions of dollars acquired from serious felonies (e.g., terrorism, drug smuggling, or human trafficking) harming countless people and economies. Cryptocurrencies, in particular, have developed as a haven for money laundering activity. Machine Learning can be used to detect these illicit patterns. However, labels are so scarce that traditional supervised algorithms are inapplicable. In this paper, the authors propose an active learning solution to detect money laundering with minimal access to labels.
“Algorithms in Future Capital Markets: A Survey on AI, ML and Associated Algorithms in Capital Markets”
Adriano S. Koshiyama, Nick Firoozye, Philip Treleaven, University College London
This paper reviews Artificial Intelligence (AI), Machine Learning (ML), and associated algorithms in future Capital Markets. New AI algorithms are constantly emerging, with each ‘strain’ mimicking a new form of human learning, reasoning, knowledge, and decision-making. The current main disrupting forms of learning include Deep Learning, Adversarial Learning, Transfer, and Meta Learning. Albeit these modes of learning have been in the AI/ML field for more than a decade, they now are more applicable due to the availability of data, computing power, and infrastructure. The developments have led to a scramble for talent across the Investment Banking world, with Data Scientists poached from Tech and retail companies; and AI Labs are being set up inside banks. The authors envisage not an incremental upgrade, but a Cambrian explosion of new use-cases that will reshape current Capital Markets.
“Choosing News Topics to Explain Stock Market Returns”
Paul Glasserman, Kriste Krstovski, Paul Laliberte, Harry Mamaysky, Columbia University
This paper presents a method to explain daily changes in stock prices through news articles about companies on the same day. The authors link stock returns to news through an algorithm that discovers important topics in the news articles. The algorithm is fully automated and does not rely on subjective assessments. Some of the topics it discovers are associated with company earnings or credit ratings; others are associated with geographic regions or specific industries. The algorithm can find up to 500 topics. The authors have tested the method using over 90,000 articles about S&P 500 companies and find that it provides an appreciable increase in the ability to explain market moves through news.
“SecretMatch: Inventory Matching from Fully Homomorphic Encryption”
Ben Diamond, Antigoni Polychroniadou, Tucker Balch, J.P. Morgan
As it is currently conducted, inventory matching requires that clients share their intentions to buy or sell certain securities, along with the sizes of their positions, with a transacting bank. Clients worry that if this information were to “leak” in some way, other market participants could become aware of their intentions, and cause the price to move adversely against them before they trade. The authors present a cryptographic approach to multi-client inventory matching, which preserves the privacy of clients. The central tool is threshold fully homomorphic encryption implemented with a new, efficient, fully-homomorphic integer library which combines GPU-level parallelism with insights from digital circuit design. The solution is also post-quantum secure. The authors report on an implementation of their protocol, and describe its performance.
Workshops
The conference will host two workshops on Wednesday, October 14:
“AI in Africa for Sustainable Economic Development”
This workshop aims to bring together researchers and industry practitioners to discuss the opportunities and challenges of applying AI to address sustainable financial and economic development in Africa.
“Women in AI and Finance”
The goal of the workshop is to bring together women at the intersection of AI and finance and create a forum where they can share their experience, ideas and vision.
Panel
“AI in Financial Regulation and Compliance”
This panel will include representatives from the US Federal Reserve, US Department of the Treasury, the Financial Industry Regulatory Authority (FINRA) and the investment banking industry.
About ACM
ACM, the Association for Computing Machinery, is the world’s largest educational and scientific computing society, uniting computing educators, researchers and professionals to inspire dialogue, share resources and address the field’s challenges. ACM strengthens the computing profession’s collective voice through strong leadership, promotion of the highest standards, and recognition of technical excellence. ACM supports the professional growth of its members by providing opportunities for life-long learning, career development, and professional networking.
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Jim Ormond Association for Computing Machinery (212) 626-0505 [email protected]
Artificial Intelligence
CUBE acquires global regulatory intelligence businesses from Thomson Reuters
LONDON, May 17, 2024 /PRNewswire/ — CUBE, a global leader in Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM), announces today its acquisition of the Thomson Reuters Regulatory Intelligence and Oden products and businesses.
The acquisition of these global businesses represents a major step forward in CUBE’s growth plans. It will deliver significant scale across many of the world’s leading and systemically important financial institutions. CUBE’s existing global customer base will be expanded to total approximately 1,000 customers in banking, insurance, asset and investment management, payments and adjacent regulated industries.
CUBE’s global employees will expand to 600, of which close to 250 are highly qualified regulatory subject matter experts, legal and compliance professionals.
Ben Richmond, founder and CEO of CUBE said: “Thomson Reuters is known to be the biggest and best in the industry for providing regulatory expert analysis and subject matter expertise, alongside world-leading journalism and news. The combination of CUBE’s purpose-built AI, with the years of content curated by Thomson Reuters Regulatory Intelligence and Oden expert analysts, will accelerate innovation. Together, we will deliver regulatory transformation capabilities for our global customers that could only have been imagined before.”
Richmond continues: “This combination will provide tremendous scale and depth across CUBE’s regulatory content and technology. It is a significant step toward creating an industry-defining regulatory compliance and risk platform that will benefit all customers and elevate the industry as a whole.”
Through this acquisition, CUBE will provide an expanded and comprehensive selection of specialized regulatory intelligence and regulatory change services, committed to excellence, quality, and highly contextualised and meaningful regulatory content for customers. By combining cutting-edge technology and subject matter expertise at scale CUBE will set a new bar for the industry in regulatory automation and content.
Chris Maguire, General Manager, Risk and Fraud, Corporates, Thomson Reuters said: “It was clear to us that CUBE had established itself as a leading regulatory intelligence provider for global enterprise clients in the financial services and insurance sectors. We wanted to ensure our customers and employees could work with an organisation that would continue to innovate and significantly invest in solutions like Thomson Reuters Regulatory Intelligence and Oden. We are working tirelessly to ensure a seamless and value-enhancing transition for customers and employees, and we are looking forward to working with the CUBE team during this transition.”
Christopher Fielding, Hg, said: “We’re delighted to further extend our market reach, bringing in two high quality and complementary global businesses to the CUBE platform.”
Thomas Martin, Hg, added: “We see these acquisitions as enabling further innovation in the regulatory intelligence and change management sector, leading to strengthened demand for these quality solutions across the globe.”
The terms of the transaction will not be disclosed.
About CUBE
CUBE provides a highly comprehensive and robust source of classified, and meaningful AI-driven regulatory data to power its Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM) solutions. CUBE’s purpose-built regulatory technology including its AI engine (RegBrain) and software platform (RegPlatform) tracks, analyses, and monitors laws, rules, and regulations in every country and in every published language to create an always up-to-date regulatory footprint that transforms visibility and compliance capability for customers across the globe.
With operations across Europe, North America, Canada, Asia, and Australia, CUBE serves a diverse and global base of customers and partners including the largest financial institutions in the world who leverage CUBE’s platform to streamline their complex regulatory intelligence and change management processes.
Following the strategic partnership with Hg in March 2024, CUBE announced the acquisition of US-based Reg-Room in May 2024.
About Hg
Hg supports the building of sector-leading enterprises that supply businesses with critical software applications or workflow services, delivering a more automated workplace for their customers.
This industry is characterised by digitisation trends that are in early stages of adoption and are set to transform the workplace for professionals over decades to come. Hg’s support combines deep end-market knowledge with world class operational resources, together providing compelling support to entrepreneurial leaders looking to scale their business – businesses that are well invested, enduring and serve their customers well.
With a vast European network and strong presence across North America, Hg’s 400 employees and around $70 billion in funds under management support a portfolio of around 50 businesses, worth over $140 billion aggregate enterprise value, with over 110,000 employees, consistently growing revenues at more than 20%.
About Regulatory Intelligence
Regulatory Intelligence is a proactive, connected, and comprehensive solution that tracks and analyses regulatory changes within ~2,000 regulatory bodies and rulebooks for more than 20 countries. It enables banking, financial services, and insurance (BFSI) sectors to manage exposure to operational, regulatory, and compliance risk.
About Oden
Oden State Rules and Regulations (SR&R), Oden Policy Terminator/Sentry PT, and OdenTrack provide repositories and automated solutions for complying with state rules and regulations on the provisioning of Personal and Business Insurance in the US.
View original content:https://www.prnewswire.co.uk/news-releases/cube-acquires-global-regulatory-intelligence-businesses-from-thomson-reuters-302147604.html
Artificial Intelligence
Cayman Enterprise City Publishes Socio-Economic Impact Assessment by Economist and Leading Advisor on the Caribbean, Marla Dukharan
The Impact of Cayman Enterprise City’s Socio-Economic Development Project Nears USD $1 Billion
GRAND CAYMAN, Cayman Islands, May 16, 2024 /PRNewswire/ — Cayman Enterprise City (CEC) has released a Socio-Economic Impact Assessment by Marla Dukharan. The report illustrates that CEC is increasing its impact by supporting higher earnings for Caymanians and is driving a shift towards a knowledge-based economy by focusing on high productivity sectors. The release by Dukharan reads, “Caymanian resourcefulness and private sector-led innovation have been the driving force behind the islands’ outstanding socio-economic success. Cayman Enterprise City underpins the next generation of Cayman innovation and dynamism.”
With an economic impact of USD $130 million in 2023, contributing just under USD $1 billion to the local economic activity in 12 years since inception, “CEC is helping the nation to diversify economically, in terms of sectors and jobs, ensuring locals have economic and employment opportunities that match the nation’s progress,” the report reads.
The CEC socio-economic development project is now home to 352 Special Economic Zones Companies (SEZCos), many of which are globally recognised institutions led by top executives and industry experts. “CEC member companies are providing high-value employment with salaries exceeding those typically found outside of the special economic zone,” said Charlie Kirkconnell, Chief Executive Officer at CEC. “The CEC community is fully invested in Cayman and the report illustrates that the CEC socio-economic development project is making a very significant impact on Cayman’s economy and community.”
“As CEC continues to grow, it continues to create significant employment and entrepreneurial opportunities for Caymanians and we encourage anyone that might be interested in finding out how they might get involved, whether as a member of the community and/or as a volunteer in our Enterprise Cayman non-profit organisation (NPO).”
77% of Caymanian-held jobs at CEC member companies, are in sectors with high social returns and increasing global demand. “By putting skills first and prioritizing learning, CEC is enabling new industries to take root,” the release by Dukharan reads.
CEC, through its Enterprise Cayman NPO, is a first-mover in private sector-facilitated education and training in the Caribbean, making it a leading force to boost youth participation in the economy. By offering training in specialised skills, Enterprise Cayman is helping to close the gap in higher education and earnings for Caymanians. “Through Enterprise Cayman we’ve set out to strategically support meaningful employment and entrepreneurial opportunities for Caymanians, by providing internship and mentorship opportunities, by hosting skill-building and career focused training, and by providing invaluable networking and community engagement opportunities,” said Kirkconnell.
In 2023 individuals took advantage of 4,226 opportunities to participate in education, training, and career development events and, since launching entrepreneurial programming in 2021, Enterprise Cayman has worked with 41 new Cayman-born business ventures. “We’re helping to develop a local talent pool that meets the demand of Cayman’s growing digital innovation and technology sectors while, in parallel, offering exciting opportunities for individuals to launch new business ventures within an innovative business environment,” said Kirkconnell.
With CEC’s new campus and state-of-the-art facilities, Signal House, the project “holds the promise of deep, continued economic impact,” the report concludes.
To access CEC’s economic impact assessments and Enterprise Cayman’s annual reports please visit https://www.enterprisecayman.ky/reports. For more information on how to get involved and for upcoming programmes and events visit www.enterprisecayman.ky.
Website: www.caymanenterprisecity.com LinkedIn: @CaymanEnterpriseCityTwitter: @CEC_CaymanInstagram: @CaymanEnterpriseCityFacebook: @CaymanEnterpriseCityYouTube: @ceccayman
About Cayman Enterprise City
Cayman Enterprise City (CEC) is an award-winning development project which consists of three special economic zones (SEZs) focused on attracting knowledge-based and specialised-services businesses to set up a genuine physical presence in the Cayman Islands. The zones included within CEC are Cayman Tech City, Cayman Commodities & Derivatives Centre, and Cayman Maritime & Aviation City. With a dedicated Government Authority, licensing fee concessions and guaranteed fast-track processes, CEC enables international companies to quickly and efficiently establish a Cayman Islands office, which in turn enables them to generate active business income within a tax neutral environment.
About Enterprise Cayman
Enterprise Cayman is a non-profit organisation (NPO) powered by Cayman Enterprise City in partnership with Cayman Islands’ special economic zone companies (SEZCos). The organisation, which applies the Theory of Change (TOC) methodology, provides Caymanians and residents with access to high-quality learning experiences and opportunities to develop and launch new business ventures, to pursue careers within the technology and innovation sectors, and to join a dynamic network of industry professionals. Let’s grow the next generation of Caymanian innovators and entrepreneurs with Enterprise Cayman!
Logo: https://mma.prnewswire.com/media/1317764/2860789/Cayman_Enterprise_City_Logo.jpg
FOR MORE INFORMATION:Contact: Kaitlyn Elphinstone Email: [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/cayman-enterprise-city-publishes-socio-economic-impact-assessment-by-economist-and-leading-advisor-on-the-caribbean-marla-dukharan-302148206.html
Artificial Intelligence
Strava Unveils New Chapter of Accelerated Product Development at Brand’s Flagship Event
The Company introduces increased product velocity, leveraging advancements in Artificial Intelligence, in service of its vision of a world connected through movement
LOS ANGELES, May 16, 2024 /PRNewswire/ — Strava, the leading digital community for active people with more than 125 million athletes, today showcased its latest initiatives and product developments at its annual event, Camp Strava. With the theme of Progress, Together company leaders announced how the platform will empower its global community to make progress in the way they explore, move, and connect on Strava.
“Strava is gaining momentum to realize our vision of a world connected through movement,” said Michael Martin, chief executive officer of Strava. “We are focused on two fundamental shifts to accelerate how we deliver value to 125 million people globally– building for women and leveraging Artificial Intelligence – which will unlock new community-and-partner-powered experiences across the platform.”
A New Era of Product VelocityStrava, with new leaders at the helm, is ushering in its next era of product velocity. The company listened closely to feedback from its global community and announced three of the most requested features coming to the platform by the end of the year.
The first of these updates, AI-enabled Leaderboard Integrity, will harness machine learning to automatically flag irregular, improbable, or impossible activities recorded to the platform. Trained by millions of activities, this feature allows all users on Strava to play fair and have more fun.
Additionally, the company announced a new Family Plan Subscription, the sister of the company’s Student Plan. With Family Plan, it’s easier to make a fitness commitment with your community by sharing an annual subscription with up to three other people – friends, family, or fitness family. Launching in select countries this summer, with plans to roll out globally by the end of the year, Strava’s newest annual subscription option offers the best value for groups (up to four), with a discount off the regular subscription price for each member.
Strava also implemented an updated design system, an initiative that is integral in driving a heightened pace of product innovation at the company. Through this work, Strava announced the launch of one of the company’s most requested features, Dark mode. Dark mode will improve the in-app experience for all users, reducing eye strain and improving accessibility while they record activity or scroll through the feed. Athletes can expect a rollout later this summer with options to keep their mobile settings always dark, always light, or match their device settings.
Company leaders highlighted several other features and updates to current products like Flyover, with its next iteration offering an overlay with activity stats and off-platform sharing capabilities. The overlay is available today for Strava subscribers and an off-platform sharing option will be released later this year.
Build for Her, Build for ManyStudies show that women of all ages participate in sports at a far lower rate than men, and overall, despite wanting to be active, find less time to dedicate to an active lifestyle. As the company continues on its mission to motivate people to live their best active lives, building for women on the platform will ultimately serve everyone in the Strava community. Several new features and initiatives were announced as a part of this strategic focus, which includes:
Night Heatmaps: Night Heatmaps show only activities between sundown and sunrise – so athletes can get an idea of which roads, trails, and paths are well-trafficked after hours. Since Night Heatmaps filter for after-hours routes, it can be a helpful tool for female athletes training before sunrise and after sunset.Quick Edit: For active women, having control over what is shared with the Strava community that cheers them on – like what time a run is logged – is important. Quick Edit makes it easier to make the most common edits – like activity name, and privacy settings so you can hide your start time, your map, or other workout stats.Strive for More®: The company announced a new phase of its Strive for More® initiative, created in 2022 to promote and support women in movement and sport. Today, Strava unveiled an official partnership with media company TOGETHXR to encourage more women to watch – and play – women’s sports. As part of the partnership, Strava will also donate $100,000 to the Alex Morgan Foundation, started by co-founder of TOGETHXR, Alex Morgan, to support their mission to help girls and women find confident paths forward in sports and life.Athlete IntelligenceToday, Strava announced the start of an accelerated product roadmap, outlining how Strava will implement the latest technological enhancements in AI and machine learning, to transform the athlete experience.
One key advancement to the platform includes the company’s latest development, Athlete Intelligence. Strava is introducing its beta AI-powered feature which turns each subscriber’s training data into an easily digestible summary that contextualizes their accomplishments and fitness goals. Unlike other AI-powered training services, Strava connects with thousands of devices, wearables, and fitness apps, so an athlete’s insights can consider their entire fitness story across multiple sports and modalities.
The features shared at Camp Strava will be released on a rolling basis through the end of the year. To view the full list of product releases and further details, visit www.press.strava.com.
For more information on Strava, to create a free account, or to start a free subscription trial visit www.strava.com.
About Strava Strava is the leading digital community for active people with more than 125 million athletes, in more than 190 countries. The platform offers a holistic view of your active lifestyle, no matter where you live, which sport you love and/or what device you use. Everyone belongs on Strava when they are pursuing an active life. Join the community, find motivation and discover new experiences with a Strava subscription.
Visit www.strava.com for more information and connect with Strava on Instagram, Twitter, Facebook, YouTube and LinkedIn.
Media Contact: [email protected]
Photo – https://mma.prnewswire.com/media/2413914/Darkmode_STRAVA.jpgPhoto – https://mma.prnewswire.com/media/2413915/Flyover_STRAVA.jpg Photo – https://mma.prnewswire.com/media/2413913/Athlete_Intelligence_STRAVA__INC.jpg
View original content:https://www.prnewswire.co.uk/news-releases/strava-unveils-new-chapter-of-accelerated-product-development-at-brands-flagship-event-302147068.html
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