With the headlines filled with stories about Big Tech’s failings in data privacy and security, questions about how data is stored, used and collated, especially with AI, are suddenly urgent. The Monetary Authority of Singapore has announced that it is investigating regulating the ethical use of the technology and data analytics more generally for consumer […]
The Danish Business Authority, Erhvervsstyrelsen, is exploring cutting edge ways to apply a number of machine learning techniques to predict possible corporate failures. It is using the XBRL financial statements that it collects from the 240,000 or so private companies that operate in Denmark. The goal is to be able to provide early warning information to entrepreneurs […]
OK… so this is getting a little bit meta… but bear with us. STOXX Ltd., the operator of Deutsche Börse Group’s index business is in the process of launching two competing indices that focus on the opportunity that Artificial Intelligence offers to investors. One index is created from a basket of securities that have been selected […]
Major Aussie institution, the Commonwealth Bank of Australia (CBA) has recently unveiled an AI chatbot named Ceba. Available to customers of the CBA, this app-based bot not only provides advice, but can apparently handle over 200 banking tasks, so, it is claimed, can actually do some banking for its customers itself. After authorisation from the […]
This week Rob Grupetta, Head of the Financial Crime Department at the UK’s FCA, spoke out on AI at an Anti Money Laundering (AML) event in London. With UK banks spending a reported £5 billion each year — more than the the cost of the UK prison system — on financial crime prevention, there is every […]
The Danish Business Registrar is beginning to use AI to enhance regulatory analytics on its repository of XBRL formatted financial statements.
Now Artificial Intelligence is going after the Traders. The shape of things to come, or is Skynet coming to Wall Street?
A widely reported briefing note from Citi this week, entitled “Digital Disruption Revisited” suggests that RegTech startups are harnessing Artificial Intelligence to cut significant costs — yes, mostly people — out of compliance activities within Financial Services firms. With the average compliance costs in the banking sector having doubled since 2008, it would make sense to automate […]
Having robust structured data as the foundation for FinTech applications will only improve the utilisation and utility of both.
XBRL Korea Annual Conference 14 April 2016 Seoul, Korea XBRL Korea, the Korea Accounting Institute and the KICPA are examining the impact on business reporting by AI and other trends such as Big Data in detail. The event will also identify opportunities for using structured data in conjunction with these emerging technologies to enhance the value […]