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Unleashing the Power of AI for Financial Institutions with Snowflake and Amazon Web Services
Financial institutions are among the largest users of AI, deploying it for a range of use cases that, while already wide, will broaden in the future. A report by the International Monetary Fund has forecast that institutional spending on AI will surge 29% to US$97 billion by 2027. The technology has become crucial to automation…
EU’s AI Act Seen Strengthening Data Foundations but not Without Challenges
The European Union’s Artificial Intelligence Act, which went into force this month, has presented financial institutions with huge opportunities but also some grave challenges, each of which can only be managed with a strong data foundation. Industry professionals have said that the Act’s provisions, though extensive, can bring clarity to a muddled regulatory view of…
Generali-Natixis Tie-up Highlights Data and Operational Complexities of Asset Management M&A
By Jeremy Katzeff, head of buy-side solutions at GoldenSource. After much speculation, it’s now confirmed. The asset management industry welcomes another mega fund to its ranks after the tie-up between the asset management businesses of Natixis and Generali Group. The reasons behind the merger are the same as they have been for the last few…
Governance, Security Woes ‘Holding Back Financial Sector Growth’
Data governance and security concerns are so great among UK financial services companies that they are holding back growth, according to a survey by secure computing company Optalysys. The survey of more than 250 financial company IT professionals found that 70 per cent of decision makers said data security was holding them back, while 45…
Zema Global Streamlines Forward-Curve Data Use
Energy commodities markets data and data management provider Zema Global has unveiled its Curve Viewer tool, which enables clients to better interrogate their data and construct the forward curves that are essential to decision making. The new addition to Zema Global’s platform offers deeper insights into clients’ own data, the company said. It provides customisable…
QuantCube Builds Data Model to Predict Drought
Investors in agricultural commodities are in sites for a new Hydric Stress Indicator launched by alternative data specialist QuantCube Technology. The tool is designed to provide insights into drought risks in the crop-producing regions of 20 countries. The technology, which is available to commodity traders, financial institutions, agricultural growers and food producers, uses meteorological data…
Building an AI Data Strategy: Licensing, Governance, and Usage
AI is often seen as a disruptive force, but it is just as much an evolution as a revolution. Machine learning and automation have long been embedded in financial workflows—the key difference today is the scale and power of AI-driven technologies. As these capabilities expand, how should firms navigate data governance, intellectual property protection, and…
Experts Urge Data-Focussed Prep for Asset Management AI Adoption
Leading data practitioners have urged financial institutions to ensure they have suitable data management and infrastructural setups to accommodate artificial intelligence (AI) applications following a report that suggested asset managers are struggling to roll out the technology. The latest in an annual study by professional services giant KPMG found that while asset managers in the…
Businesses Struggling with ESG Data that will Aid SFDR Compliance
Most businesses are struggling to prepare their data to meet a new European regulation that is designed in part to deliver huge troves of corporate ESG information into financial institutions’ systems. More than four-fifths of companies questioned in a study by data mastering company Semarchy said they lack confidence in their data management capabilities to…
ICE to Scrape Reddit Communities for Market-Useful Insights
US financial data and technology provider Intercontinental Exchange (ICE) is to harvest insights and content from millions of posts made daily to the Reddit social media platform, which it will package into market-useful data products. ICE said it would access Reddit’s Data API to “research, create and distribute new data and analytics products for the…