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Half of finance work could be AI by 2030
Dear Editor, The G.M.A. Integrated News unveiling of A.I. sportscasters Maia and Marco last 24 September captivated many people during the start of the National Collegiate Athletic Association or NCAA Season 99. This groundbreaking introduction sparked intense discussions on social media about Artificial Intelligence’s potential implications on journalism’s future. People expressed a mix of excitement and apprehension, highlighting the need for further exploration and understanding of AI’s role in shaping the field of journalism. As Artificial Intelligence advances at an unprecedented rate, it is not only in journalism where AI can automate work. According to McKinsey, by 2030, approximately half of the finance work could be automated. This automation will bring opportunities and challenges, as AI can streamline processes and improve efficiency. The finance areas that have already started to be automated are the banking and financial institutions, risk assessments, credit scoring, customer service, and market sentiment analysis. In banking and financial institutions, an AI called KAI-GPT can auto-detect risks, generate insights, and make financially literate recommendations. Launched on 31 May 2023, KAI-GPT is the world’s first banking-specific large language model designed to address the industry’s unique accuracy, transparency, trustworthiness, and customization needs. The KAI-GPT provides a human-like, financially literate response. Westpac, Australia’s first bank and oldest company serving more than 12 million customers, is in the process of implementing KAI. Meanwhile, in risk assessment, the tool DataRobot AI can simulate potential fraud scenarios and detect credit risks, fraud risks, and market volatility. Using predictive and generative DataRobot AI improves the technical ecosystem in Financial Services. Sanlam, Africa’s largest non-banking financial institution, uses DataRobot AI, resulting in more streamlined and transparent solutions, driving critical business value levers such as sales and client retention. In the finance area of credit scoring, the Personetics and AIO Logic can detect risk, determine rates, and structure customer loans. Personetics serves over 140 banks and financial institutions across 30 global markets, reaching 135 million banking customers. United Overseas Bank, a Singapore-based Banking and Financial Services organization with 24346 employees and revenues of $9790000.00 billion, uses Personetics. AIO Logic is well known as an AI for Automated Payment Management, Automated Balance Management, Automated Accounting, Complex Structures, Automated Invoicing, Automated Reporting and Analytics. These two credit scoring AI can also assess customers’ creditworthiness and set credit limits. In customer service, robo-advisors, chatbots, and virtual assistants provide a conversational system fit for financial planning assistance. Robo-advisors offer financial advice and limited human interaction, which appeal to Generation Z, who have virtual interactions with advisors and are increasing interest in novel assets like cryptocurrency. The AI is now also in market sentiment analysis, and Bloomberg G.P.T. shows how to automatically analyze news, articles, social media and other classified textual data. Launched on 30 March 2023, Bloomberg GPT is a significant language model with 50 billion parameters trained explicitly on a wide range of financial data. It can perform market sentiment analysis and even help manage investment portfolios. These advancements in AI technology have the potential to significantly streamline and automate many tasks in the finance industry, reducing the need for human intervention. The applications of generative AI in Finance will be widely seen in regulatory compliance and reporting, financial forecasting, portfolio optimization, anti-money laundering and algorithmic trading. However, it is essential to note that while AI can enhance efficiency and accuracy, it is not a substitute for human expertise and judgment. Human oversight and decision-making will still be crucial in navigating complex financial landscapes and ensuring AI technologies’ ethical and responsible use. Still, job displacement in finance may occur, and the need to upskill the workforce is now paramount. Arnel Lopez Cadeliña arnelcadelina@gmail.com The post Half of finance work could be AI by 2030 appeared first on Daily Tribune......»»
The long wait is over: Nintendo’s new ‘Zelda’ hits shelves
A six-year wait came to an end for "Zelda" fans across the world on Friday as Nintendo released the long-awaited next instalment of its 40-year-old gaming saga. Gamers began lining up outside a shop in Paris well before midnight, determined to get their hands on "Tears of the Kingdom" the minute it became available. "I'm going crazy actually, because it's been six years that we've been waiting for this game," 19-year-old Taylor Meguira told AFP as he waited in line. "When 'Breath of the Wild' came out, it was a real revolution in the world of games," he added, referring to the 2017 instalment of the saga. "Knowing that there is a sequel, which is coming out in an hour or a little less, it's just incredible, it just makes me so happy." The game featuring the exploits of Princess Zelda and the elf-like warrior Link has sold 125 million copies worldwide since its first edition in 1986. It helped forge "open world" games where the player is free to roam in virtual landscapes -- an idea later taken up by games ranging from "Grand Theft Auto" to "Skyrim". But its main challenge this year will be to boost earnings for the Japanese gaming giant and prolong the life of its Switch console, which experts say is in its dotage after seven years on the shelves. Clips circulating on the internet racked up millions of views before the release and the game is expected to be "by far the biggest contributor to Nintendo's sales this year", said Serkan Toto, an analyst at Kantan Games. Yet the franchise's 1980's launch was something of a gamble for a company then best known for "Donkey Kong" and "Super Mario Bros." 'A pioneer' The first edition, "The Legend of Zelda", plunged gamers into an unknown universe largely without instructions. "The scale of the game was huge at a time when most games were finished in an hour or two," said Kiyoshi Tane, an author specialising in the history of video games. "It was something of a pioneer of what open-world games would become." Zelda hit the market a few months after "Super Mario Bros". But while Mario runs from left to right through various platforms, Zelda "encouraged the player to explore, discover and map its world and take on its challenges", said Mark Brown, who analyses game design on his YouTube channel. It was a smash hit and pushed the boundaries of game design for the next two decades. By the turn of the 2010s, however, the franchise was struggling. Nintendo wanted to expand the game's appeal but only managed to create editions that satisfied nobody. Hardcore fans drifted away and its popularity waned. The designers rethought the basics of the game, eventually creating 2017's "Breath of the Wild", which launched alongside the Switch and has since become the best-selling edition of Zelda. "This game set a high bar for the open-world action-adventure genre, and Zelda is still at the top," Katsuhiko Hayashi, representative for Famitsu Group, which publishes industry magazine Famitsu, told AFP. 'So excited' Nintendo has issued a gloomy forecast for the year ahead, but Charles-Louis Planade, an analyst at Midcap Partners, reckons "Tears of the Kingdom" could become "the best-selling game in history," potentially approaching $1 billion in revenue. In Tokyo, Yutaka Hirai said the seemingly endless scale of previous Zelda games helped draw him in. "The world was so big, much bigger than I imagined... I played it for over 100 hours," the 30-year-old told AFP Daniel Olivo, a tourist from Mexico, even took time out from sightseeing to pick up the game in Tokyo. "I'm so excited, because since I was about five years old, I know this game," the 33-year-old told AFP. "In the end, I got the collector's edition, so it was amazing," he added with a broad smile. The post The long wait is over: Nintendo’s new ‘Zelda’ hits shelves appeared first on Daily Tribune......»»
Kaspersky Shares Cybersecurity Tips for a Peaceful Getaway during the holy week
As the holiday season approaches, the urge to unwind and kick back is natural. And it’s all too common for people to let their guard down completely when connecting to the Internet too– but shouldn’t. Recently, the Philippine National Police (PNP) Anti-Cybercrime Group shared its findings on identity theft cases in the country. Between November […].....»»
Lessons from Shohei Ohtanis Interpreter Blame: The Daily Guardia
Los Angeles Angels pitcher and designated hitter Shohei Ohtani has found himself at the center of a scandal involving alleged sports betting activities and theft.....»»
Gathering of champions
The stars descended on the Okada Grand Ballroom last Sunday as former world boxing champions gathered to celebrate the launch of the 1st Pacquiao-Elorde Awards Night with WBC president Mauricio Sulaiman as guest of honor and speaker......»»
‘Sama-sama sa Angel’s Pizza’ TikTok Singing Contest Grand Finals: A resounding success
The inaugural “Sama-sama sa Angel’s Pizza” TikTok Singing Contest, an electrifying celebration of talent and creativity, reached its pinnacle with the Grand Finals held at Viva Café in Cyberpark Tower 1, Araneta City in Quezon City......»»
Shohei Ohtani to address theft allegations against interpreter in investigatio
Shohei Ohtani Denies Involvement in Gambling Scandal In a shocking turn of events, baseball star Shohei Ohtani has found himself caught up in a gambling.....»»
DPWH-Davao: Coastal Road lights inactive due to stolen wires
THE Department of Public Works and Highways-Davao Region (DPWH-Davao) confirmed that a portion of lights along the Davao City Coastal Road are inactive due to wire theft......»»
SC allows UN expert to act as friend of the court in Maria Ressa s cyber libel plea
Irene Khan, United Nations (UN) Special Rapporteur for freedom of expression and opinion, has been allowed by the Supreme Court (SC) to sit as an "amicus curiae" to the court in the appeal for the cyber libel case of Rappler.com chief executive officer Maria Ressa and former researcher Reynaldo Santos......»»
Ohtani to address theft allegations against interpreter
Shohei Ohtani's interpreter got fired by the Dodgers amid allegations that he stole from the player to pay off gambling debts.....»»
Kiray may inamin sa mga natatakot at tumatawag ng maldita kay Marian
NAKAKATAKOT! Maldita. Mahirap katrabaho. Ilan lang yan sa mga salitang ikinakabit sa Kapuso Primetime Queen na si Marian Rivera. Actually, matagal nang natsitsismis na nakakaloka raw katrabaho si Marian at kung anu-ano ngang malilisyosong kuwento ang naglalabasan tungkol sa kanyang tunay na ugali. Kaya naman sa grand mediacon ng comeback series ng wifey ni Dingdong.....»»
Grand Lotto pot to hit P166 million tonight
The Grand Lotto 6/55 jackpot is estimated to reach P166 million by tonight’s draw, the Philippine Charity Sweepstakes Office (PCSO) said yesterday......»»
Gabby Eigenmann ihahatid sa altar si Andi kapag ikinasal na kay Philmar
SI GABBY Eigenmann ang maghahatid kay Andi Eigenmann sa altar kapag ikinasal na sa kanyang fiancé na si Philmar Alipayo. Ito ang kinumpirma ng Kapuso actor nang makausap ng BANDERA sa grand mediacon ng latest primetime series ng GMA 7 na “My Guardian Alien” na pinagbibidahan nina Marian Rivera at Gabby Concepcion. Tuloy na tuloy.....»»
Lotto results for March 23, 2024
EZ2/LVM - 30 3 SUERTRES - 6 8 1 6D Lotto - 8 9 8 6 3 0 6/42 - 31 39 22 4 37 35 P6,533,007.00 Grand Lotto - 40 36 35 26 3 37 P158,629,540.00.....»»
Young Creatives Challenge discovers new breed of artists
Six months after the formal launch of the Young Creatives Challenge (YC2), playwrights, songwriters, graphic artists, and content creators trooped to the Samsung Hall at SM Aura for the grand finals and awarding ceremony......»»
Wanted for high-profile crimes killed in Bangsamoro police operation
A suspect in a series of motorcycle theft, multiple murder, extortion and operation of a drug den, who has links with local terrorist groups, was killed while his companion was wounded in a shootout with policemen in Datu Odin Sinsuat, Maguindanao del Norte on Thursday......»»
COA denies PNP generals’ appeal on blocked P131-million fast boat purchase
The Commission on Audit upholds the findings of the Fraud Audit Office, stating that the transaction of four former police generals in 2009 violated procurement laws.....»»
Korean firm agrees to terms of Comelec auto polls contract
South Korean firm Miru Systems and its partners have agreed with the Commission on Elections on the terms in the service contract for the 2025 automated election system.....»»
Auto, EV players welcome possible tariff relief for hybrid, e-motorcycles
Automotive firms and electric vehicle players welcomed yesterday the potential expansion of the list of vehicles that can enjoy lower tariffs to include hybrid vehicles and e-motorcycles currently being studied by the government, saying that their inclusion may promote the shift to more environment-friendly transport options......»»
PNP allows civilians to own semi-auto rifles
Civilian gun owners can now own and register 7.62mm semi-automatic rifles, according to the Philippine National Police.....»»