Deep learning

JP Morgan and Microsoft Announce Strategic Blockchain Partnership

JP Morgan and Microsoft this week announced a strategic partnership to accelerate the adoption of enterprise blockchain. JP Morgan’s Quorum, an enterprise-focused version of Ethereum, will be the first distributed ledger platform available through Microsoft’s Azure Blockchain service, so their customers can build and scale blockchain networks in the cloud. Based on Ethereum, Quorum is …

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BlackRock Lab for AI Focuses on a Stock-Lending Platform, Alt Data Sets and Automating Boring Tasks

BlackRock‘s Chief Engineer and Head of the Aladdin Product Group (APG), Jody Kochansky, in a blog last spring wrote about „the promise of AI and what it means to BlackRock.“ His topics included how the firm already is using AI today, such as superior insights following the explosion of unstructured data, AI‘s ability to enhance …

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Accenture: Challenges for Financial Services in ML/AI Adoption

Data as the new oil, and how data-rich industries such as financial services can tap into their noisy liquid gold. A recent in-depth Accenture study addresses the challenges for financial services on the road to AI adoption, especially cultural and how to become comfortable with the robustness of modeling techniques. Access the full report on …

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Credit Suisse Data Science Team Leaves to Set up AI Shop, sees Google and Alibaba as the New Competition

About a year and a half ago, Jonathan Wilmot, Credit Suisse’s Chief Global Strategist and Head of Macro Research after over 30 years with the firm, took the data science department and started his own AI investment boutique, WilmotML – as in Machine Learning. Aric Whitewood, CS’s Head of Data Science for seven years, left …

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JP Morgan and AI: „This is not Pie-in-the-Sky Stuff“

JP Morgan has been extremely busy in the last few years following the tech giants’ blueprint for AI: hire the best people, make headlines, re-invent the business, and… make money in the process. The firm’s public AI website, a part is shown below, highlights tech efforts around AI, FinTech, Blockchain, Development and Digital Payments. 40% …

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From $2.5B to $58B… Two Sigma’s AI Investment Strategy: Humans and Big Data Crowdsourcing

Two Sigma describes itself as “a systematic investment manager, founded with the goal of applying cutting-edge technology to the data-rich world of finance.” The SoHo, New York, based hedge fund was founded in 2001, by John Overdeck, David Siegel and Mark Pickard. Using AI, ML and distributed computing to invest, the fund has over $58 …

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Baillie Gifford Chair into Data and AI Ethics and AI for long-term stock picking

The media-shy low/high-profile 110-year old investment manager Baillie Gifford last month pledged GBP5 million to the University of Edinburgh to support research into the ethical challenges posed by the growing use of data and AI. Nick Thomas, a partner at the firm, stated: “We hope that our close collaboration with academics at the cutting edge of …

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AQR Turning 20 and Showing an Open-Source Team Approach to Use Data Science and AI in Asset Management

About ten years ago I interviewed Cliff Asness at an Institutional Investor event – as with his investment and research philosophy, it was honest and provocative. AQR went from $12 billion to $225 billion in a decade and a half, used data science and open source research from day one and has pioneered a number …

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Brevan Howard Appoints Head of AI Driven Systematic Investments

Brevan Howard, after hiring Karim-Patrick Khiar in the spring of 2017 as Head Data Strategist, two months ago made him the Head of AI Driven Systematic Investments… this marks an increasing push by (Alternative) Asset Managers to implement AI in the investment process, once big data is organized effectively. BH, founded in 2002, is one …

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Manulife/John Hancock and their “LOFTy” AI Ambitions – now in Silicon Valley

Canada has always been a (quiet) leader of AI in its own right, with MILA, CIFAR, et al. Manulife in Toronto owns John Hancock in Boston (combined AUM C$1 trillion+) and they have been playing with AI for insurance and investment management in a variety of ways. Manulife – and under its John Hancock brand in …

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