Looking around the world, fintech (financial technology) has risen strongly in the “China sector,†and Chinese financial technology companies represented by Alipay, WeChat, etc. have become increasingly important in the global context.
As the first payment platform to obtain cross-border online payment licenses, as of April 2017, Alipay has landed in 26 countries and regions including Europe, America, Japan and South Korea, Southeast Asia, and Hong Kong, Macao and Taiwan, and has access to more than 120,000 overseas lines. Merchant outlets support 18 kinds of overseas currency settlement. As of May 2017, WeChat has also conducted assessments for compliance access in 19 countries and regions. Now it has officially landed in 15 countries. The most recent entry is in the United States, which supports more than 12 foreign currency direct settlements.
The fiery layout of Alipay and Wechat's payment abroad has caused widespread concern in the global market. The fintech's subversion and innovation in China's financial industry has made people full of yearning and curiosity. It is undeniable that finance is one of the industries with the highest degree of dataization, and is also considered to be the best scenario for artificial intelligence applications. Traditional financial institutions, with AI+fintech, will realize overtaking in the future.
In the future U.S. time, August 23-25, 2017, the G-Summit global scientific innovation summit organized by the Great Wall Club (GWC) will provide in-depth discussion on fintech and jointly open opportunities for artificial intelligence + finance. And change.
Loup Ventures: The Upcoming Transformation of the Next Key Technology Platform
From the coverage point of view, fintech contains more than Internet finance. Payment clearing, financing, infrastructure, and investment management are the main businesses of fintech. In addition, fintech is being applied to almost all aspects of the financial sector: lending, wealth management, payments, insurance, crowdfunding, credit information, and even retail banking and housing agencies.
As a result, Douglas Clinton, managing partner of early-stage venture capital firm Loup Ventures, believes that the next major technology platform is coming soon. These technology platforms include artificial intelligence, augmented reality (AR) and virtual reality (VR). How to create maximum value in the next wave is the most important consideration in the present. Douglas Clinton said that there are many factors for venture capital investment, including team, topics, market, and non-incremental etc. It is also important to understand the applicability of products or services in the hierarchy.
Today, with the rapid development of financial technology, Douglas Clinton expressed his position: “If we can invest in a great team that builds a potential operating system, we will definitely do it. If we cannot find a company that does an operating system, we will look for those who are Companies that optimize future computing platform components. If these companies can't be found, we'll look for companies that have "damaged" industries that haven't been affected by technology. If none of these are found, we will continue to look for them."
At the summit, Douglas Clinton will bring Loup Ventures' unique investment methodology, share it from an investment perspective, and create maximum value by standing at the top of the wave of AI fintech.
Citadel: Investment-Oriented Machine Learning and Alternative Data Methods
Deng Li was the chief scientist of artificial intelligence for Microsoft's Application and Services Business (ASG) and later joined Citadel, one of the world's largest multi-strategy hedge funds. It is understood that Citadel hired Christian Hesse, a quantitative trading specialist from Deutsche Bank and focused on machine learning, last year. Other global well-known hedge funds such as Man Group, Winton and Aspect Capital are also enriching their team of machine learning experts.
Deng Li said that today’s dominant market in the US Treasury market is computer technology-driven high-frequency trading companies. They are “first a technology company before making a deal,†Wall Street bank giants Goldman Sachs and JP Morgan Chase said For technology companies. Citadel's core department “Quantitative Research Department†There are more than 80 former professors of mathematics and astrophysicists from prestigious universities. They jointly developed a mathematical model to support the trading system.
In terms of Citadel, the best deal is high frequency trading. In general, when the company releases earnings every quarter, the stock price will rise if the performance exceeds analysts' expectations, and the stock price will fall if it is lower than expected. Such a simple logic needs to be compared to institutions who can use the machine to interpret financial information more quickly and make investment decisions at the first time. Machine interpretation of financial reports is a typical machine learning application.
Therefore, companies based on high-frequency trading to quantify the company's R&D system need to invest a lot of manpower and material resources. They must hire highly qualified mathematicians and computer experts, spend expensive hardware, lease specialized microwave communication lines, and even build systems specifically in transactions. The entrance.
Deng Li’s research focuses mainly on deep learning and machine intelligence applied to big data, speech, text, images, and multi-modal processing. Together, Deng Li’s research may be first used in the machine to interpret text data modules. Break through the technical threshold and improve quantitative investment, so that AI will bring greater breakthroughs in financial investment.
Amazon: Future hopes to become a platform company
Hassan Sawaf, Director, Amazon AWS Artificial Intelligence Laboratory. Hassan Sawaf is a world-renowned expert in machine translation. Prior to joining Amazon, Hassan Sawaf worked as a machine translator at his competitor eBay, where he introduced smart real-time machine translations that he learned to help eBay open up in emerging markets. In September 2016, Amazon stole Hassan Sawa from eBay as the head of artificial intelligence to improve the product search experience.
In terms of artificial intelligence layout, Amazon is a giant of "a low-key man doing high-profile work." Amazon's external publicity rarely mentions the concept of artificial intelligence, but in its own products and services, AI is everywhere. From personalized recommendations, dynamic price optimization, supply chain optimization, predictive delivery, to automated warehousing, drone delivery, and unmanned supermarkets, none is based on AI technology support.
Over the past 20 years, Amazon has built a business centered on e-commerce, and AI has allowed the company to reach a turning point. In a letter to shareholders in April 2017, Amazon.com Chairman Bezos stated that artificial intelligence and machine learning will be the focus of the company's new phase. This will help Amazon maintain its current status and maintain its competitiveness. The advantages. Compared with the past, Amazon is increasingly looking forward to becoming a platform company.
At G-Summit Pebble Beach Station, Hassan Sawaf will tell us how AI will change Amazon's new retail.
Drip trip: the future is not just to solve travel problems
Dr. Gongmin Feng is known as the godfather of Silicon Valley's security entrepreneurship. He has more than 30 years of experience in network and security research and development. Prior to joining Didi, he was co-founder and CEO of AssureSec. In addition, Dr. Gongfeng Gong is a network security company Palo Alto Networks. The co-founder is also the founder or key executive of several emerging security companies, three of which have successfully listed or acquired.
Gong Fengmin stated that the Dripping Platform involves passengers, drivers, and partners, involving a large number of financial payment transactions, bringing information protection and other issues related to the theft of identity information, fraud, and the like. Didi need to protect customer information, avoid payment and transactions. In the process of fraud and the leakage of personal account information, the future will not only solve travel problems, but also solve the social problems from the national to the global level, including urban development, transportation, and environmental protection.
In the past, most information security products only focused on a certain stage or aspect of a security problem, such as whether there was a vulnerability in the software. However, these vulnerabilities do not necessarily cause adverse consequences for the business, such as data loss, transaction information leakage. Enterprises do not need to deal with all security holes. If you continue to use traditional information security strategies, the effect is usually not good, and security defenses can only passively follow the pace of hackers.
For such a situation, Gong Fengmin believes that the focus of security defense should shift to business-focused, uninterrupted and large-scale monitoring, and use big data and artificial intelligence to determine whether there are threats and anomalies. In short, this is distributed security detection coupled with centralized threat data analysis.
Gong Fengmin said that there are currently seven major security areas. Security analysis including abnormal behavior, security fraud, Internet of Things security, secure payment and fraud are all very sensitive topics in the financial sector. There are many discussions about IOT security issues, and the impact of IOT is enormous; the next step is to control the platform. No matter how you operate it, whether it is enterprise control or cloud control, the key factor is security; internal threat monitoring and response, and this Internal threats do not occur every day. From the perspective of customer needs, this is a security area that needs constant exploration; threat intelligence infrastructure; security system solutions; there may be a series of integration of products and services.
With the development and application of next-generation information technologies such as big data, cloud computing, blockchain, artificial intelligence, and mobile Internet, many new financial formats are emerging, financial services have become more efficient, and application scenarios have become more abundant. The financial innovation businesses such as digital currency, big data credit, and intelligent investment and care are constantly improving the efficiency of financial services, reducing overall costs, and are also promoting the construction of an entirely new financial ecology. Fintech is expected to become a key to opening up financial innovation and the future.
In addition, artificial intelligence brings a breakthrough in algorithms, and its application has greatly improved the service levels of the banking industry, wealth management industry, insurance industry, accounting industry and personal finance industry. This G-Summit global scientific innovation summit will discuss the subversive reform of artificial intelligence in the financial sector from the perspective of enterprise-level blockchain, algorithmic trading, and investment portfolio management.
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G-Summit Global Science Innovation Summit Pebble Beach Station
2017.8.23 – 2017.8.25
Holiday Inn Spanish Bay | Monterey Peninsula Pebble Beach | California, United States
The theme of this year's summit will be “Resurgence of the New Scienceâ€, focusing on the latest breakthroughs and realizing potential of artificial intelligence in the four areas of medical health, transportation, financial technology and new materials under the “AI First†trend. The top 150 world-renowned scientists, innovative business leaders and forward-looking investors will gather in Pebble Beach to focus on artificial intelligence in the name of “scienceâ€, cross-border clashes and unveil the next hundred years.
Click on "Registration" to participate (registration address: http://member.gwcevents.com/zh-cn/MemberNetwork/MemberRegisterHome/782)
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