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Warren Enskat Weekly AI Summary Jan 6, 2019 (WE-WAIS)

Warren Enskat / Weekly AI Summary (WE-WAIS) / 1-6-2019

Some of the AI developments and thoughts from this past week:

JP Morgan launches all mobile bank, Finn by Chase, with analytics/strategy exec at the helm: JP Morgan has been busy with ML, AI and data science hires. A few months ago they took Google’s Head of Product Management to become JPM’s Global Head of AI (Technology), in addition of course to the high-profile ML hire from Carnegie Mellon, also last year. For the case study on Finn, its competition, and how JP Morgan approaches AI and digital, click here.

– Baillie Gifford Chair into Data and AI Ethics, and AI for long-term stock picking: “We hope that our close collaboration with academics at the cutting edge of transformative technologies will accelerate the pace of research and bring tangible benefits to society.” But this is just the latest testing the AI waters for the Edinburgh-based asset manager – a year ago, BG hired a former mathematician and four internal staff to figure out how to use AI to eliminate routine/boring tasks for PMs and also to figure out how AI can assist in long-term stock picking. For the full case study, click here.

AQR Capital Management hires star Head of Machine Learning from Guggenheim after lawsuit and team spin-out: Marcos Lopez de Prado in September 2018 joined AQR as their Head of Machine Learning/Principal with his team. He had previously worked at Guggenheim Investments, founding and building the QIS team (quantitative investment strategies) from scratch four years ago. He developed high-capacity ML strategies for IG bond portfolios and his outperformance in a few years resulted in a $13 billion book of business, managed by him and his team. For the full case study, click here.

SEB Head of Emerging Technologies becomes Group Chief Information Officer after receiving Supernova award for Aida AI: SEB had created Aida, above, an AI Assistant for internal IT assistance and external chats, based on AI platform Amelia, developed by IPSoft. “We see this as an exploratory journey in which we start with small, narrowly-defined application areas,” comments Nicolas Moch. “The main purpose of this venture is to create an entirely new channel in which customers can get answers to their questions as quickly and efficiently as possible at times that suit them.” For the full case study, click here.

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Written by

Daniel Enskat

Daniel has written over a dozen books on the global asset management industry and has lectured at universities around the world alongside speakers such as Secretary of State John Kerry, Dr. Mark Mobius, ex-Fed Chairman Alan Greenspan, Professor KC Chan and former Prime Minister Gerhard Schroeder.

He is widely sought after for presentations, discussions and his perspective on the global asset management industry, and in the last two decades has advised hundreds of investment management CEOs on strategy and global expansion.