Davide Zilli, client services director at Mind Foundry discusses the importance of built-in ‘explainability’ in AI and machine learning solutions to ensure full transparency and accountability. The financial sector, like many industries today, relies on algorithms to make sense of data, conduct large-scale machine learning (ML) analysis and forecast outcomes. These algorithms are both effective […]
Before I get into today’s subject, some very tragic news for our industry last week as I understand that Steve Jennions, former FX trader at Citi, Morgan Stanley and Deutsche Bank to name just three firms, died last week. I only met Steve once to my memory, when he was at Morgan Stanley, but talk […]
In this week’s new style podcast Colin Lambert casts his eye over some key news stories of the week and is joined by Jay Moore, founder and CEO of FX Hedgepool and Rob Loft, founder and CEO of Harvey Loft to discuss two in depth. Listeners will be surprised to hear that Lambert has some […]
AiX has announced the launch of what it claims is the world’s first natural language artificial intelligence (AI) broker platform, facilitating automated peer-to-peer trading in institutional OTC markets. The firm says it aims to transform OTC markets through its AI-driven negotiation and matching engine, executed through the AiX chatbot, which it says enables instant access to liquidity, immediate price discovery, […]
Although the availability of liquidity remains the biggest daily concern for market participants, according to JP Morgan’s annual e-trading survey, the results also suggest growing concerns about the availability of data and an increased focus on data services. The annual survey, now in its fourth year, invites institutional and professional traders to share their views […]
SmartStream Technologies has incorporated artificial intelligence (AI) technology into its existing managed service offering, which covers reconciliations, corporate actions, cash management and reference data. SmartStream has worked alongside its clients to introduce AI into their managed services offering that it says will reduce operating costs and pricing, as well as improving operational efficiency and reporting. […]
From origination through trading to settlement, Colin Lambert argues that data has revolutionised the foreign exchange industry more than any other single factor. “Even 10 years ago I probably heard the word ‘data’ once a month,” says Kate Lowe, head of trade services at State Street. “Now? It’s 40 times a day. As an industry […]
Given they predicted just such a move almost a year ago there is no surprise from Colin Lambert and Galen Stops in this week’s podcast over the announcement that Deutsche Boerse is in talks with Refinitiv to buy some or all of its FX assets. So far, so straightforward – however this is In the […]
The European Commission has published an update outlining the next steps for its efforts to build trust in AI and machine learning by creating what it terms “a European approach to artificial intelligence”. The plans have attracted criticism from the Center for Data Innovation, a non-profit research institute.
In 2018 the EC established a High-Level Expert Group (HLEG), which was tasked with creating policy and investment recommendations to help the Commission deal with the technological, ethical, legal and socio-economic challenges that can arise from the broader use of AI. Upon launch, the EC said it wanted to strengthen the EU’s competitiveness in this area.
A new Artificial Intelligence/Machine Learning survey launched by Refinitiv has found that while the use of these techniques is pervasive in the financial community, poor quality data impedes their ability to leverage the advantages.
The survey found that 90% of the c-level executives and data scientists surveyed have already deployed machine learning, while all of the c-level participants said it is core to their business strategy.
On the downside, 43% cite poor quality data as the biggest barrier to adoption followed by a lack of data availability (38%).