Lifeboat Foundation

For United Shore CEO Mat Ishbia, it’s not about what you know.

Ishbia says that specific skills, such as salesmanship, graphic design, or programming, can be taught. Those don’t guarantee whether or not a candidate will succeed at the Troy, Michigan-based financial services business.

“I don’t care about your résumé,” Ishbia says. “I don’t care about what school you went to. I don’t care about what you did at your last company.”

Continue reading “A CEO explains why he doesn’t care about your résumé, your alma mater, or your last job when he’s looking to hire” »

Amazing…

A bank used AI to dramatically cut its workload.

Forty per cent of Australia’s jobs will disappear in 10 years but the head of CSIRO’s data research unit has delivered an action plan for how they can be replaced.

“The fourth industrial revolution is under way and the winners will be so far ahead of the losers, Australia has no choice but to pivot to the new industries that will emerge,” Data61 chief executive Adrian Turner told The Australian Financial Review Business Summit on Wednesday.

Australia was already feeling the consequences of an economy whose greatest disruptors, such as Uber and Amazon, were mostly coming from elsewhere, Mr Turner said. He noted that GDP growth rates were below historic averages, government debt to GDP ratios were rising, wage growth was slowing and productivity plateauing.

Continue reading “Data61 CEO Adrian Turner has a plan for the next jobs” »

“At JPMorgan Chase & Co., a learning machine is parsing financial deals that once kept legal teams busy for thousands of hours.”

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If you follow Bitcoin at all, then you know that its value is spiking. It has already surpassed a massive spike on Thanksgiving night 2013, and it has just surpassed the cost of an ounce of gold. _{[continue below image]}

Like any commodity, the exchange value of Bitcoin is driven by supply and demand. But, unlike most commodities, including the US Dollar, the Euro or even gold, the eventual supply is capped. It is a mathematical certainty. Yet, demand is affected by many factors: Adoption as a payment instrument, early signs that it is being considered as a reserve currency, fascination by Geeks and early adopters and its use as a preferred tool by some criminals.

But chief among reasons for acquiring Bitcoin is speculation. Whether it is buy-and-hold or day trading, speculators still outnumber those who use Bitcoin to settle debts or to buy and sell other products and services. (Earlier this week, I argued that speculation is responsible for 85% of demand and of transactions—but that’s another story).

Continue reading “Bitcoin ETF Buzz Offers Short Term Opportunity” »

Great news and a very promising vector for near future innovation!

A research team led by the University of Minnesota has discovered a way to rewarm large-scale animal heart valves and blood vessels preserved at very low (cryogenic) temperatures without damaging the tissue. The discovery could one day lead to saving millions of human lives by creating cryogenic tissue and organ banks of organs and tissues for transplantation.

Continue reading “Groundbreaking technology rewarms large-scale animal tissues preserved at low temperatures” »

The nation of Singapore is planning to implement a digital identity programme that is inspired by the one in Estonia.

The aim of the programme is to revamp its current national IDs, potentially allowing citizens simpler access to government services, financial transactions, and more.

According to the country’s prime minister Lee Hsien Loong, Singapore is not “going as fast as we ought to” in its drive to implement digital solutions and improving in areas such as electronic payment and transportation, news portal Today Online reported.

Continue reading “Singapore to implement a digital identity programme inspired by Estonia” »

Na JPMorgan Chase & Co., uma máquina de aprendizagem está analisando os acordos financeiros que antes mantinham equipes jurídicas ocupadas por milhares de horas.

O programa, chamado COIN, para o Contrato de Inteligência, faz a tarefa de interpretar acordos de empréstimo comercial que, até que o projeto foi lançado em junho, consumiu 360 mil horas de trabalho por ano por advogados e agentes de crédito. O software revê os documentos em segundos, é menos propenso a erros e nunca pede férias.

No que diz respeito à COIN, o programa ajudou a JPMorgan a reduzir os erros de manutenção de empréstimos, a maioria resultante de erro humano na interpretação de 12.000 novos contratos por ano, de acordo com os seus criadores.

Continue reading “JPMorgan Software Does in Seconds What Took Lawyers 360,000 Hours” »

Wall Street is a Darwinian battle for the almighty dollar. But Richard Craib thinks his AI-powered hedge fund will soar if everyone can just get along.