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Bitstamp integrates with Fireblocks to enable faster cryptocurrency transactions – CryptoNinjas

Bitstamp, a European cryptocurrency exchange and largest by trade volume, today announced they have integrated with Fireblocks to enable select institutional clients to move assets more efficiently by becoming the first exchange on the platform to support transactions with just one confirmation.

Fireblocks is an enterprise platform for securely moving digital assets. It is used by some of the largest institutions to safely and easily move assets between exchanges, counterparties, custodians and other wallets, which simplifies operations and provides a high level of security for organizations that often move large amounts of assets.

By integrating with Fireblocks, Bitstamp has made it easier for their customers to move assets between the different platforms they use. Additionally, Bitstamp is introducing an optimized process for the clearing and settlement of cryptocurrency transactions on Fireblocks.

As the infrastructure available to institutional cryptocurrency traders continues to mature, transaction speed is increasingly coming into focus as a potential bottleneck, by integrating with Fireblocks, weve made it much simpler for our customers to initiate transactions between different platforms. The lower confirmation requirement weve introduced is the next step towards more efficiency, allowing the transactions themselves to complete faster. Miha Grar, Bitstamps Global Head of Business Development

As the first exchange to enable faster clearing and settlement of crypto transactions on Fireblocks, Bitstamp is taking a proactive approach to what seems to be the next frontier in institutional cryptocurrency trading. Currently, cryptocurrency transactions with just one confirmation are only available to select institutional customers, with plans to expand availability to more of the Fireblocks network soon.

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Artificial Intelligence (AI)

Early diagnosis of Alzheimers disease (AD) using analysis of brain networks

AD-related neurological degeneration begins long before the appearance of clinical symptoms. Information provided by functional MRI (fMRI) neuroimaging data, which can detect changes in brain tissue during the early phases of AD, holds potential for early detection and treatment. The researchers are combining the ability of fMRI to detect subtle brain changes with the ability of machine learning to analyze multiple brain changes over time. This approach aims to improve early detection of AD, as well as other neurological disorders including schizophrenia, autism, and multiple sclerosis.

NIBIB-funded researchers are building machine learning models to better manage blood glucose levels by using data obtained from wearable sensors. New portable sensing technologies provide continuous measurements that include heart rate, skin conductance, temperature, and body movements. The data will be used to train an artificial intelligence network to help predict changes in blood glucose levels before they occur. Anticipating and preventing blood glucose control problems will enhance patient safety and reduce costly complications.

This project aims to develop an advanced image scanning system with high detection sensitivity and specificity for colon cancers. The researchers will develop deep neural networks that can analyze a wider field on the radiographic images obtained during surgery. The wider scans will include the suspected lesion areas and more surrounding tissue. The neural networks will compare patient images with images of past diagnosed cases. The system is expected to outperform current computer-aided systems in the diagnosis of colorectal lesions. Broad adoption could advance the prevention and early diagnosis of cancer.

Smart, cyber-physically assistive clothing (CPAC) is being developed in an effort to reduce the high prevalence of low back pain. Forces on back muscles and discs that occur during daily tasks are major risk factors for back pain and injury. The researchers are gathering a public data set of more than 500 movements measured from each subject to inform a machine learning algorithm. The information will be used to develop assistive clothing that can detect unsafe conditions and intervene to protect low back health. The long-term vision is to create smart clothing that can monitor lumbar loading; train safe movement patterns; directly assist wearers to reduce incidence of low back pain;and reduce costs related to health care expenses and missed work.

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Artificial Intelligence That Can Evolve on Its Own Is Being Tested by Google Scientists – Newsweek

Computer scientists working for a high-tech division of Google are testing how machine learning algorithms can be created from scratch, then evolve naturally, based on simple math.

Experts behind Google's AutoML suite of artificial intelligence tools have now showcased fresh research which suggests the existing software could potentially be updated to "automatically discover" completely unknown algorithms while also reducing human bias during the data input process.

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According to ScienceMag, the software, known as AutoML-Zero, resembles the process of evolution, with code improving every generation with little human interaction.

Machine learning tools are "trained" to find patterns in vast amounts of data while automating such processes and constantly being refined based on past experience.

But researchers say this comes with drawbacks that AutoML-Zero aims to fix. Namely, the introduction of bias.

"Human-designed components bias the search results in favor of human-designed algorithms, possibly reducing the innovation potential of AutoML," their team's paper states. "Innovation is also limited by having fewer options: you cannot discover what you cannot search for."

The analysis, which was published last month on arXiv, is titled "Evolving Machine Learning Algorithms From Scratch" and is credited to a team working for Google Brain division.

"The nice thing about this kind of AI is that it can be left to its own devices without any pre-defined parameters, and is able to plug away 24/7 working on developing new algorithms," Ray Walsh, a computer expert and digital researcher at ProPrivacy, told Newsweek.

As noted by ScienceMag, AutoML-Zero is designed to create a population of 100 "candidate algorithms" by combining basic random math, then testing the results on simple tasks such as image differentiation. The best performing algorithms then "evolve" by randomly changing their code.

The resultswhich will be variants of the most successful algorithmsthen get added to the general population, as older and less successful algorithms get left behind, and the process continues to repeat. The network grows significantly, in turn giving the system more natural algorithms to work with.

Haran Jackson, the chief technology officer (CTO) at Techspert, who has a PhD in Computing from the University of Cambridge, told Newsweek that AutoML tools are typically used to "identify and extract" the most useful features from datasetsand this approach is a welcome development.

"As exciting as AutoML is, it is restricted to finding top-performing algorithms out of the, admittedly large, assortment of algorithms that we already know of," he said.

"There is a sense amongst many members of the community that the most impressive feats of artificial intelligence will only be achieved with the invention of new algorithms that are fundamentally different to those that we as a species have so far devised.

"This is what makes the aforementioned paper so interesting. It presents a method by which we can automatically construct and test completely novel machine learning algorithms."

Jackson, too, said the approach taken was similar to the facts of evolution first proposed by Charles Darwin, noting how the Google team was able to induce "mutations" into the set of algorithms.

"The mutated algorithms that did a better job of solving real-world problems were kept alive, with the poorly-performing ones being discarded," he elaborated.

"This was done repeatedly, until a set of high-performing algorithms was found. One intriguing aspect of the study is that this process 'rediscovered' some of the neural network algorithms that we already know and use. It's extremely exciting to see if it can turn up any algorithms that we haven't even thought of yet, the impact of which to our daily lives may be enormous." Google has been contacted for comment.

The development of AutoML was previously praised by Alphabet's CEO Sundar Pichai, who said it had been used to improve an algorithm that could detect the spread of breast cancer to adjacent lymph nodes. "It's inspiring to see how AI is starting to bear fruit," he wrote in a 2018 blog post.

The Google Brain team members who collaborated on the paper said the concepts in the most recent research were a solid starting point, but stressed that the project is far from over.

"Starting from empty component functions and using only basic mathematical operations, we evolved linear regressors, neural networks, gradient descent... multiplicative interactions. These results are promising, but there is still much work to be done," the scientists' preprint paper noted.

Walsh told Newsweek: "The developers of AutoML-Zero believe they have produced a system that has the ability to output algorithms human developers may never have thought of.

"According to the developers, due to its lack of human intervention AutoML-Zero has the potential to produce algorithms that are more free from human biases. This theoretically could result in cutting-edge algorithms that businesses could rely on to improve their efficiency.

"However, it is worth bearing in mind that for the time being the AI is still proof of concept and it will be some time before it is able to output the complex kinds of algorithms currently in use. On the other hand, the research [demonstrates how] the future of AI may be algorithms produced by other machines."

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Artificial Intelligence That Can Evolve on Its Own Is Being Tested by Google Scientists - Newsweek

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Should I Stay or Should I Go? Artificial Intelligence (And The Clash) has the Answer to Your Employee Access Dilemma. – Security Boulevard

What happens when employees have access to data, apps or services that they shouldnt? Best case scenario: they might know the salaries of all their colleagues and company execs. Worst case scenario: malicious actors exploit that access and extract sensitive business data, causing millions of dollars in damage and irreparable harm to brand reputation.

In past blogs, I wrote how security starts with protecting users and that by verifying the user we greatly reduce the attack surface from all humans to just those you actually trust (aka your employees). I also wrote that we want to make sure every device is being used in a secure manner. In other words, by validating every device, we reduce the attack surface even more by limiting the devices that gain access from billions of computers, phones, or tablets to just the select few in the users possession.

Verifying users and validating devices represent steps one and two on the road to Zero Trust. But while this combination drastically improves security posture, more layers are necessary to guarantee risks of fraudulent access are no more. Just because a person is who they say they are and are using a trusted device doesnt mean that they should have broad access rights beyond what they need to do their job. Whether by accident or malicious intent, insiders can still misuse their access or share access with people whom they shouldnt.

To stop this from happening, you need to vastly reduce the risk associated with the access rights each user has. We do this by limiting user access (even to verified users and validated devices) to only those apps and resources that they need to do their job, and to only when they specifically need to do it. This is step number three that completes the trinity of a Zero Trust security approach: Verify every user, validate their devices, and intelligently limit their access.

Companies typically grant access to necessary apps and resources as they onboard employees. When an employee moves on, either up the ranks or out the door, we tend to forget about those original grants. Were all guilty of this. For example, Im now head of marketing at Idaptive, so I shouldnt have access to our product source code the same way I did back when I was a product manager. The accumulation of access to data, apps, and services creates serious risks. Instead, we must tailor that access to just what a person needs for the job they perform today and automatically remove that access when they leave.

Thats easier said than done for IT teams (and sometimes HR) who historically had to manually provision and deprovision users or at least manually write the rules for role-based access control programs. Someone had to tell IT that an employees role had changed, and then IT would have to figure out how that relates to the access that they should or shouldnt have. We often refer to this process as lifecycle management, and provisioning is just one piece of this mammoth responsibility that enterprise teams are tasked with managing.

The role of lifecycle management in the Zero Trust model is critically important because it determines who has which rights on which systems and applications. You can ensure that a user only has access to what he needs to do his job, create reliable reports, and audit those rights at any given time.

IT staff knows that accounts are difficult to manage because:

Some form of automation and automatic deprovisioning is required. Combining self-service, workflow, and provisioning automation can ensure that users only receive the access they need, help them be productive quickly, and automatically remove their access as their roles change or when they leave the company.

Even if you dont have hands-on experience with lifecycle management, its not hard to see how this spreadsheet-style or swivel chair provisioning access can snowball into something both time-consuming and error-prone leading to an accumulation of access over time. And when employees have access to things they shouldnt, attackers know that a simple phishing attempt is all it takes to gain insider access and wreak havoc on business systems.

If youre saying right now there has to be a secure, more efficient and maybe even automated way to do this, youd be right. The answer lies within a Zero Trust approach powered by Next-Gen Access identity technology.

With Provisioning and Lifecycle Management you can enable users to request access to applications from the app catalog of pre-integrated applications, provide specific users the ability to approve or reject these access requests, and automatically create, update, and deactivate accounts based on roles in your user directory. Provisioning enables users to be productive on day one with the appropriate access, authorization, and client configuration across their devices.

Lifecycle Management should also seamlessly import identities from your preferred HR system or application, including Workday, UltiPro, BambooHR, or SuccessFactors, and provision them (typically) to Active Directory. This enables you to unify your provisioning and HR workflows and have an HR-driven primary system of record for user data across all your applications.

By way of example, with Active Directory (AD) synchronization for Microsoft Office 365, you can keep your AD accounts and Office 365 accounts in sync and automatically provision and deprovision user accounts, groups, and group memberships to simplify Office 365 license management.

Lifecycle Management not only can save IT teams a great deal of time and frustration, but it can ultimately save companies from crippling data breaches. Such is the power of intelligently limiting access as part of a Zero Trust framework.

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Insilico enters into a research collaboration with Boehringer Ingelheim to apply novel generative artificial intelligence system for discovery of…

HONG KONG, April 14, 2020 /PRNewswire/ --Insilico Medicine is pleased to announce that it has entered into a research collaboration with Boehringer Ingelheim to utilize Insilico's generative machine learning technology and proprietary Pandomics Discovery Platform with the aim of identifying potential therapeutic targets implicated in a variety of diseases.

Insilico enters into a research collaboration with Boehringer Ingelheim

"Insilico Medicine is very impressed with the Research Beyond Borders group at Boehringer Ingelheim capabilities in the search of potential drug targets. In this collaboration, Insilico will provide additional AI capabilities to discover novel targets for a variety of diseases to benefit the patients worldwide. We are very happy to partner with such an advanced group," said Alex Zhavoronkov, PhD, founder, and CEO of Insilico Medicine.

"We believe that Insilico's exclusive Pandomics platform will provide huge boost to our ability to explore and identify drug targets. We look forward to using AI to significantly improve the drug discovery process and contribute to human health," said from Dr. Weiyi Zhang, Head of External Innovation Hub, Boehringer Ingelheim GreaterChina.

In September 2019, Insilico Medicineannounced a $37 million round led by prominent biotechnology and AI investors.

About Insilico MedicineSince 2014 Insilico Medicine is focusing on generative models, reinforcement learning (RL), and other modern machine learning techniques for the generation of new molecular structures with the specified parameters, generation of synthetic biological data, target identification, and prediction of clinical trials outcomes. Since its inception, Insilico Medicine raised over $52 million, published over 70 peer-reviewed papers, applied for over 20 patents, and received multiple industry awards.

Websitehttp://insilico.com/

Media ContactFor further information, images or interviews, please contact:ai@insilico.com

About Boehringer Ingelheim Improving the health of humans and animals is the goal of the research-driven pharmaceutical company Boehringer Ingelheim. The focus in doing so is on diseases for which no satisfactory treatment option exists to date. The company therefore concentrates on developing innovative therapies that can extend patients' lives. In animal health, Boehringer Ingelheim stands for advanced prevention.

Family-owned since it was established in 1885, Boehringer Ingelheim is one of the pharmaceutical industry's top 20 companies. Some 50,000 employees create value through innovation daily for the three business areas human pharmaceuticals, animal health and biopharmaceuticals. In 2018, Boehringer Ingelheim achieved net sales of around 17.5 billion euros. R&D expenditure of almost 3.2 billion euros, corresponded to 18.1 per cent of net sales.

As a family-owned company, Boehringer Ingelheim plans in generations and focuses on long-term success. The company therefore aims at organic growth from its own resources with simultaneous openness to partnerships and strategic alliances in research. In everything it does, Boehringer Ingelheim naturally adopts responsibility towards mankind and the environment.

More information about Boehringer Ingelheim can be found on http://www.boehringer-ingelheim.com or in our annual report: http://annualreport.boehringer-ingelheim.com

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New Bright Pattern AI Survey Finds 78% of Companies Have or Plan to Deploy AI In Their Call Center – Associated Press

Press release content from PR Newswire. The AP news staff was not involved in its creation.

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SOUTH SAN FRANCISCO, Calif., April 14, 2020 /PRNewswire/ -- Adoption of artificial intelligence continues to increase in U.S. contact centers. According to Canam Research, 78% of contact centers in the U.S. report plans to deploy artificial intelligence in their contact center in the next 3 years, with an overwhelming number (97%) of survey respondents planning to use artificial intelligence to support agents as opposed to 7% who plan to use AI to replace some or all of their current call center staff. Top uses of artificial intelligence include bots, self-service, and AI for quality management.

These insights stem from a survey sponsored by Bright Pattern, the leading provider of AI-powered omnichannel cloud contact center software for innovative enterprises. The survey examined the current state of U.S. contact centers usage and preferences around artificial intelligence in the contact centers. Bright Pattern surveyed companies of all sizes and industries in the 2020 Contact Center AI Benchmark Trend Report.

Survey Respondents Top Goals for Implementing AI:

Everyone has been talking about AI for improving the customer experience but few companies know where to start, said Ted Hunting, Senior Vice President Marketing, Bright Pattern. We conducted this research to better understand what customers need. It resulted in the creation of our BrightStart Solution Packs for AI which help customers immediately deploy AI in their contact centers.

Call Center AI Key Findings:

Find out more about the current state of AI in the contact center by downloading the 2020 Contact Center AI Benchmark Trend Report.

Survey Methodology Bright Pattern commissioned third-party research consultancy Canam to conduct an online survey of over 300 U.S. contact center executives from a total pool of 14 industry categories.

Bright Pattern announced initial customer experience survey findings in April and will continue to release additional insights in the coming months. For more details about the survey methodology or to receive a free copy of the report, contact the Bright Pattern media relations team at marketing@brightpattern.com.

About Bright PatternBright Pattern provides the simplest and most powerful AI-powered contact center for innovative midsize and enterprise companies. With the purpose of making customer service brighter, easier, and faster than ever before, Bright Pattern offers the only true omnichannel cloud platform with embedded AI that can be deployed quickly and nimbly by business userswithout costly professional services. Bright Pattern allows companies to offer an effortless, personal, and seamless customer experience across channels like voice, text, chat, email, video, messengers, and bots. Bright Pattern also allows companies to measure and act on every interaction on every channel via embedded AI omnichannel quality management capability. The company was founded by a team of industry veterans who pioneered the leading contact center solutions and today are delivering architecture for the future with an advanced cloud-first approach. Bright Patterns cloud contact center solution is used globally in over 26 countries and 12 languages.

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SOURCE Bright Pattern

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Artificial intelligence used to measure impact of Coronavirus on American construction – News – GCR

Analysis by camera firm OxBlue has used artificial intelligence (AI) from construction site data to determine the drop in construction productivity across America due to the Coronavirus pandemic.

OxBlue is using data from commercial construction projects, which excludes single-family residential construction.

Using almost near real-time field data and comparing it to previous activity across all 50 states, OxBlue has determined that construction has declined by 5% throughout March 2020 in the US, based on the weighted average of the construction volume for each state.

The analysis found:

The two states with the most severe decline in activity were subject to Covid-19 quarantine restrictions, with Pennsylvanias issue to close non-life-sustaining businesses meaning building work was reduced by 77%. Michigan experienced a 74% drop of construction work after ordering residents to stop work on March 23rd.

12 states that are yet to issue Coronavirus restrictions saw an increase in productivity.

States with high construction construction outputs also saw large declines in activity, such as a 43% decline in New York, which ordered all non-essential construction to stop, and a 57% drop for building work in Massachusetts.

OxBlue found that construction in Americas northeast reduced the most by 34%.Images courtesy of OxBlue

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Artificial Intelligence and the Insurer – Lexology

No longer used solely by innovative technology companies, AI is now of strategic importance to more risk-averse sectors such as healthcare, retail banking, and even insurance. Built upon DAC Beachcrofts depth of experience in advising across the insurance market, this article explores a few ways in which artificial intelligence is changing the insurance industry.

How might AI change insurance?

Artificial intelligence (AI) is an increasingly pervasive aspect of modern life, thanks to its role in a wide variety of applications. The technological advancement and applicability of AI systems has exploded due to, cheaper data storage costs, increased computing resources, and an ever-growing output of and demand for consumer data. As such, we expect to see change in several critical aspects of the insurance industry.

Of course, it is important to note that insurance is a large and complex industry. Even in light of the perceived advantages discussed above, insurers may not always find it easy to integrate AI within products or backend systems. A Capgemini survey revealed that as of 2018, only 2 per cent of insurers worldwide have seen full-scale implementation of AI within their business, with a further 34% still in ideation stages. Furthermore, there are important ethical considerations which have yet to be addressed, with critics warning that AI could lead to detrimental outcomes, especially in relation to personal data privacy and hyper-personalised risk assessments. While more work needs to be done to understand the various implications of AI in insurance, it nevertheless remains an important and fascinating space to watch.

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Combatting AI bias: remembering the human at the heart of the data is key – JAXenter

Artificial Intelligence (AI) once considered the stuff of science fiction has now permeated almost every aspect of our society. From making decisions regarding arrests and parole, to determining health and suitability for jobs, we are seeing algorithms take on the challenge of quantifying, understanding, and making recommendations in place of a human arbitrator.

For businesses this has presented a wealth of opportunities to streamline and hone processes, along with providing critical services such as facial recognition and healthcare screening to governments and nations across the world. With this growing demand comes an increased supply for developers who can create and build algorithms with the level of complexity and sophistication needed to make decisions on a global scale. However, according to a 2019 survey by Forrester, only 29% of developershave worked on AI projects, despite 83% expressing a desire to learn and take them on.

As with any developer project, working on AI brings with it its own unique set of challenges that businesses and developers must be aware of. In the case of AI, the chief issue is that of bias. A biased algorithm can be the difference between a reliable, trustworthy, and useful product, and an Orwellian nightmare resulting in prejudiced, unethical decisions and a PR catastrophe. It is therefore crucial that businesses and developers understand how to mitigate these effects from the beginning, and that an awareness of bias is built into the heart of the project.

Every developer (and every person, for that matter) has conscious and unconscious biases that inform the way they approach data collection and the world in general. This can range from the mundane, such as a preference for the colour red over blue, to the more sinister, via the assumption of gender roles, racial profiling, and historical discrimination. The prevalence of bias throughout society means that the training sets of data used by algorithms to learn reflect these assumptions, resulting in decisions which are skewed for or against certain sections of society. This is known as algorithmic bias.

Whilst 99% of developers would never intend to cause any kind of unfairness and suffering to the end users in fact, most of these products are designed to help people the results of unintentional AI bias can often be devastating. Take the case of Amazons recruitment algorithm, which scored women lower based on historical data where the majority of successful candidates (and indeed the only applicants) were men. Or the infamous US COMPAS system, which ranked African-American prisoners at a far higher risk of re-offending than their white counterparts regardless of their crimes or previous track record based on data gathered from racial profiling.

There is also a second possibility of technical bias when developing an algorithm. This occurs when the training data is not reflective of all possible scenarios that the algorithm may encounter when used for life-saving or critical functions. In 2016, Teslas first known autopilot fatality occurred as a result of the AI being unable to identify the white side of a van against a brightly lit sky, resulting in the autopilot not applying the brakes. This kind of accident highlights the need to provide the algorithm with constant, up-to-date training and data reflecting myriad scenarios, along with the importance of testing in-the-wild, in all kinds of conditions.

Finally, we have emergent bias. This occurs when the algorithm encounters new knowledge, or when theres a mismatch between the user and the design system. An excellent example of this is Amazons Echo smart speaker, which has mistaken countless different words for its wake up cue of Alexa, resulting in the device responding and collecting information unasked for. Here, its easy to see how incorporating a broader range of dialects, tones, and potential missteps into the training process may have helped to mitigate the issue.

Whilst companies are increasingly researching methods to spot and mitigate biases, many fail to realise the importance of human-centric testing. At the heart of each of the data points feeding an algorithm lies a real person, and it is essential to have a sophisticated, rigorous form of software testing in place that harnesses the power of crowds something that simply cannot be achieved in a static QA lab.

All of the biases outlined above can be limited by working with a truly diverse data set which reflects the mix of languages, races, genders, locations, cultures, hobbies that we see in our day-to-day life. In-the-wild testers can also help to reduce the likelihood of accidents by spotting errors which AI might miss, or simply by asking questions which the algorithm does not have the programmed knowledge to comprehend. Considering the vast wealth of human knowledge and insight available at our fingertips via the web, not making use of this opportunity is highly amiss. Spotting these kinds of obstacles early can also be incredibly beneficial from a business standpoint, allowing the developer team to create a product which truly meets the needs of the end user and the purpose it was created for.

As AI continues its path to become omnipresent in our lives, its crucial that those tasked with building our future are able to make it as fair and inclusive as possible. This is no easy task, but with a considered approach which stops to remember the human at the heart of the data we are one step closer to achieving it.

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Artificial Intelligence at UBS Current Applications and Initiatives – Emerj

UBS is a Swiss multinational investment banking and financial services company ranked 30th on S&P Globals list of the top 100 banks. In addition to investment banking and wealth management, the company is looking to improve its tech stack through several AI projects.

Our AI Opportunity Landscape research in financial services uncovered the following three AI initiatives at UBS:

We begin our coverage of UBS AI initiatives with their project for a virtual financial assistant for their banking clients.

UBS partnered with IBM and Digital Humans (formerly FaceMe) to create a virtual financial assistant for its customers. The virtual assistant is a conversational interface built with IBMs Watson Natural Language Understanding solution. Watson runs primarily on natural language processing technology, which is an approach to AI that enables the extraction and analysis of written text and human speech. Digital Humans provided the 3D character model for the avatar, which represents the assistant on-screen.

The video below explains how Watson Natural Language Understanding works:

UBS developed two distinct digital avatars. One avatar, named Fin, is built for managing simple tasks such as helping a customer cancel and replace a credit card. The second avatar, Daniel, can purportedly answer investment questions. IBM claims Watson affords UBS the following capabilities:

UBS also started an internal initiative with the goal of solving liquidity issues within foreign exchange using machine learning. In 2018, the bank announced its ORCA direct solution, which purportedly helped its employees execute foreign exchange transactions more quickly.

The banks software could automatically decide the best digital channel by which to execute a foreign exchange deal. This may save the bank a significant amount of time, as it would be particularly difficult to optimize for a bank with access to so many separate trading channels.

Additionally, these platforms may run on different pricing metrics, and banks may incur certain fees depending on the type of trade they are making. UBS updated the solution to ORCA Pro in 2019, which it claims can now act as a single-dealer platform.

This platform is linked to UBS optimization engine, which helps reduce disparity between the expected price and the price at which a trade is executed. For example, if a given deal is made weeks after UBS financial advisor had last spoken to the client, ORCA pro might be able to discern that the bid/ask spread for the deal has fluctuated without either party noticing.

UBS claims their ORCA Direct and Pro solutions provide the following capabilities to their staff:

UBS third AI initiative is their partnership with vendor Attivio to develop an NLP-enabled search engine for their wealth management, asset management, and investment banking services. Attivio refers to this NLP-based solution as cognitive search, which can be understood as an AI-powered enterprise search application.

The short, 1-minute video below explains how machine learning can enable enterprise search and provide context for more detailed results:

The vendor claims UBS developed this application to facilitate the following capabilities:

Financial services companies need to understand what their competitors are doing with AI if they hope to compete in the same domains and win the customers their competitors are trying to court with more convenient experiences and more financial lucrative wealth management services.

Leaders at large financial services companies use Emerj AI Opportunity Landscapes to discover where AI can bring powerful ROI in areas like wealth and asset management, customer service, fraud detection, and more, so they can win market share well into the future. Learn more about Emerj Research Services.

Header Image Credit: UBS

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