Digital Transformation in Banking: Making Progress and Hitting Roadblocks

#Digital Transformation in #Banking: Progress and Roadblocks


#fintech #CIO #AI #IT #tech

  • One third of banking executives participating in a study said that marketing owns the end-to-end customer relationship, but only 14% feel that marketing should own their institution’s digital strategy.
  • As financial institutions look at how best to adapt their current practices to meet the needs of customers across an expanding array of digital channels, banking executives look for insights to inform their digital transformation strategies.
  • With 87% of the financial institution respondents saying that technology is intrinsic to digital transformation and must be considered in tandem with strategy, it’s a natural fit for CIOs to lead the way in vetting and implementing the technical platforms and solutions that will form the backbone of an organization’s digital strategy.
  • Still, a financial organization that can establish a culture free of silos – and carry out effective digital transformation quickly and successfully – will certainly earn itself an effective competitive advantage and be able to deliver a differentiated level of customer experience.
  • By incorporating advice from other industry leaders and fostering a company culture ready to embrace cooperation alongside new technology, financial institutions can best execute the digital transformations necessary to keep pace and potentially stand out in their industry.

Two out of every five financial institutions say they are only in the infancy of their digital transformation strategy.
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Rise of artificial intelligence: learning to love machines

yes Yes YES
@Kasparov63, who knows a thing or two about being challenged by tech progress:

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  • There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set.
  • This appears to be a defect in the browser which should be addressed soon.
  • The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser.

It was my blessing and my curse to be the world chess champion when computers finally reached a world championship level of play. When I resigned the final match game against the IBM supercomputer Deep Blue on May 11, 1997, I became the first world champion to be defeated in a classical match by a machine.
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Canada Is Investing $2 Billion in a Climate Disaster Mitigation Fund

Meanwhile, in Canada: New budget invests $2 billion in climate disaster mitigation fund

  • Now, the federal government has committed billions of dollars in new funding to make sure that future climate disasters aren’t so completely devastating.
  • Mitigation efforts take a significant amount of money, and last year an audit by the Commissioner of the Environment and Sustainable Development stated that despite increased levels of funding for disaster recovery, Canada is still not prepared for the intensity of future climate disasters.
  • Read More: Vancouver Considers Abandoning Parts of the Coast Because of Climate Change

    Beyond the climate disaster mitigation fund, Canada has committed to funding machine-learning research, helping out on one of NASA’s Mars missions, and paying for research into stem cell therapies.

  • The 2017 budget has added $150 million from the Public Transit and Green Infrastructure fund, to make a total of $950 million over five years.
  • Another new budget effort to attract more forward-looking companies is the Smart Cities Challenge Fund.

In its new federal budget, Canada invests in machine learning and teaching kids to code, but offers no real plan for how to address workplace automation.
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ARM’s next-gen chip design puts the focus on artificial intelligence

ARM’s next-gen chip design puts the focus on artificial intelligence  #5G #IoT #mobile

  • ARM tipped its hand today with the announcement of DynamIQ, a new technology it says will lay the groundwork for its next generation of mobile processors.
  • Like other mobile chip makers, the company’s got a lot to contend with when it comes to future-proofing its offerings, and certainly ARM’s making some pretty big claims for what it’s calling its “biggest micro-architectural shift since […] 2011”

    Central to the company’s speed boasts are its focus on future artificial intelligence, an aspect of technology that will continue to grow more central to mobile computing over the next several years, both through the proliferation of smart-assistants, autonomous vehicles and beyond.

  • As with offerings from other mobile chip makers, the company is targeting a wide range of different computing platforms that move well beyond mobile.
  • Microsoft has already laid some of the groundwork for additional applications back in December when it announced that it would be bringing its apps to the company’s mobile processors, in an attempt to get hardware makers to build a wider variety of devices for the operating system.
  • ARM’s not giving exact dates for the technology’s anticipated arrival, only stating that it expects its hardware partners to ship an additional 100 billion ARM-based chips by the year 2021, having shipped roughly half that number between 2013 and 2017.

ARM tipped its hand today with the announcement of DynamIQ, a new technology it says will lay the groundwork for its next generation of mobile processors…
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Researchers Build An AI That’s Better At Reading Lips Than Humans » TechWorm

Researchers Build An #AI That’s Better At Reading Lips Than Humans  #MachineLearning

  • Scientists at the Oxford University have claimed to develop a new computer software program that can lip-read better than humans, which might give the hearing impaired a helping hand.
  • The new artificial intelligence (AI) software system called “Watch, Attend and Spell (WAS)” has been developed by Oxford University in collaboration with Google’s DeepMind.
  • The AI system correctly lip-read 50 percent of silent speech, while professional lip-readers got only 12 percent right, researchers found.
  • Speaking on the tech’s core value, Jesal Vishnuram, Action on Hearing Loss Technology Research Manager, said: “Action on Hearing Loss welcomes the development of new technology that helps people who are deaf or have a hearing loss to have better access to television through superior real-time subtitling.
  • AI lip-reading technology would be able to enhance the accuracy and speed of speech-to-text especially in noisy environments and we encourage further research in this area and look forward to seeing new advances being made.”

Researchers develop an AI software system that lip-reads better Scientists at the Oxford University have claimed to develop a new computer software program
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New AI Can Write and Rewrite Its Own Code to Increase Its Intelligence

This new #AI can rewrite its own code to get even smarter  via @futurism

  • This form of probabilistic programming — a code that uses probabilities instead of specific variables — requires fewer examples to make a determination, such as, for example, that the sky is blue with patches of white clouds.
  • Gamalon CEO and cofounder Ben Vigoda showed MIT Technology Review a demo drawing app that uses their new method.
  • However, unlike Google’s version, which relied on sketches it had previously seen to make predictions, Gamalon’s app relies on probabilistic programming to identify an object’s key features.
  • One product, the Gamalon Structure, using Bayesian program synthesis to recognize concepts from raw text, and it does so more efficiently than what’s normally possible.
  • For example, if equipped with a Beysian model of machine learning, smartphones or laptops wouldn’t need to share personal data with large companies to determine user interests; the calculations could be done effectively within the device.

Teaching machines could be much easier using this tech.
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A Short History of Programming – Part 3

A Short History of Programming – Part 3 | @DevOpsSummit #AI #ML #DevOps #FinTech #Blockchain

  • SYS-CON Events announced today that Cloud Academy will exhibit at SYS-CON’s 20th International Cloud Expo�, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform.
  • In the next four years, you can expect there to be 35 ZB of data created by devices, with 28 ZB managed by enterprises.
  • As cloud adoption continues to transform business, today’s global enterprises are challenged with managing a growing amount of information living outside of the data center.
  • In terms of the data most sought after by hackers, healthcare businesses registered slightly more attacks than even those in the financial industry.
  • By the end of last year there were 7.9 ZB of data generated and 6.3 ZB were under management by enterprises.

By Jyoti Bansal Article Rating: January 20, 2017 12:39 PM EST   Programming for Commerce, Banking, and FinTech Look at how far we’ve come. Just seven decades ago, the word “computer” referred to someone in an office with a pile of charts and a slide rule.
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