Financial Industry Moves Towards Artificial Intelligence Based Machines

Samir Vasawada, Co-Founder and CEO of Artificial Intelligence labs based in San Francisco, CA. participates in Risk Roundup with Jayshree Pandya to discuss “ Financial Industry Moves Towards Artificial Intelligence Based Machines”

 

Overview

Digital Disruption is here. It seems Financial Industry is moving towards Artificial Intelligence based Machines!

Humans across nations seems to be on the brink of “Artificial Intelligence Arms Race”. It seems that the use of Artificial Intelligence (AI) is not new. From cars to phones, from thermostats to emails and from games like checkers to chess, Artificial Narrow Intelligence (ANI) system has been in use for a very long time. More advanced ANI systems are also being widely used across various industries like finance, military and manufacturing.

As the AI arms race intensifies across nations: its government, industries, organizations and academia (NGIOA), intelligent non-human machines continue to develop rapidly. There are visible signs that Finance industry is keeping up with the AI race and has taken a decisive step forward in moving away from man towards machines!

As we speak, digital traders are replacing human traders and fortunes are being lost and made in a matter of milliseconds. Manual trading is being replaced by high frequency computerized trading. Human jobs are being replaced by machine jobs. Role of man is basically being replaced by machines.

It seems that the Financial industry has begun to rely more on artificial intelligence to go over earnings statements, news, reports, regulatory filings and various other data information sources. This is with a goal to look for signs or indicators for how to view a stock, investment opportunity and trade profitably. While AI is much faster and more efficient than humans, and brings quantifiable benefits in millisecond’s timeframe to entities that are competing across nations, a lot can happen in those millisecond time frames, for which we the humans, are simply not prepared for. At least not yet!

The role of humans is obviously diminishing as the world of Finance moves towards AI based machines. When the role of humans is facing an existential threat, it is important to evaluate the critical security risks each one of us faces across NGIOA in not only today but also in the coming tomorrow.

 


 

About the Guest
Samir Vasawada, is the Co-Founder and CEO of Artificial Intelligence labs based in San Francisco, CA.

About the Host of Risk Roundup
Jayshree Pandya (née Bhatt) is a visionary leader, who is working passionately with imagination, insight and boldness to achieve “Global Peace through Risk Management”. It is her strong belief that collaboration between and across nations: its government, industries, organizations and academia (NGIOA) will be mutually beneficial to all—for not only in the identification and understanding of critical risks facing one nation, but also for managing the interconnected and interdependent risks facing all nations. She calls on nations to build a shared sense of identity and purpose, for how the NGIOA framework is structured will determine the survival and success of nations in the digital global age. She sees the big picture, thinks strategically and works with the power of intentionality and alignment for a higher purpose—for her eyes are not just on the near at hand but on the future of humanity!
At Risk Group, Jayshree is defining the language of risks and currently developing thought leadership, researching needed practices, tools, framework and systems to manage the “strategic and shared risks” facing nations in a “Global Age”. She believes that cyberspace cannot be secured if NGIOA works in silo within and across its geographical boundaries. As cyber-security requires an integrated NGIOA approach with a common language, she has recently launched “cyber-security risk research center” that will merge the boundaries of “geo-security, cyber-security and space-security”.
Previously, she launched and managed “Risk Management Matters”, an online risk journal and one of the first risk publications, publishing “Industry Risk Reports of Biotechnology, Energy, Healthcare, Nanotechnology, and Natural Disasters” over the course of five years. Jayshree’s inaugural book, “The Global Age: NGIOA @ Risk”, was published by Springer in 2012.

About Risk Roundup

“Risk Roundup” is an “integrated strategic security risk dialogue” for nations: its government, industries, organizations and academia (NGIOA) in cyberspace, geospace and space (CGS). Risk Roundup is released in both audio and video format and is available for subscription at (Risk Group WebsiteiTunesGoogle PlayStitcher RadioAndroid, and Risk Group Professional Social Media).

About Risk Group
Risk Group believes that risk management, security and peace walk together hand in hand. Though security is related to management of threats and peace to the management of conflict, risk management is related to management of security vulnerabilities as well as management of conflict, and it is not possible to conceive any one of the three without the existence of the other two. All three concepts feed into each other. Risk Group believes that the security we build for ourselves is precarious and uncertain until it is secured for everyone across nations. Tradition becomes our security-so if we build a culture of managing risks effectively it will lead us to security and security will lead us to peace!

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