You would not be surprised if you had read my following blog :
A Matterof Time [ 03 Jan
2017 ]
where I
wrote :
So just wait to find out which Mobile
Wallet comes up with the following " innovations " FIRST :
* All bank accounts of a person ( in different banks ) become inter- operable / fungible ,
through seamless
interlinking , using Aadhar / UPI Interface in a Mobile Wallet
No need to " select
" a particular bank name
=================================
[ Following news report confirm that the “ Interoperability “ which I predicted in Jan
2017 , has finally arrived :
Interoperable
mobile wallets in 6 months: RBI ( Oct 12 , 2017 )
·
================================================
* All transactions using a Mobile
Wallet, automatically entered in BLOCK-
CHAIN database commonly shared by ALL banks
* Wallet based algorithm will move funds across different bank accounts for
best yield ,
constantly searching for best interest rates
offered by banks on Fixed
Deposits
This will happen
automatically , much like algorithm-based share trading , taking
advantage of price
differences in two bourses located 300 km apart ( in one
thousandths of a second ! )
No rocket science here
considering availability of " BEST PRICE " apps for thousands of
goods and services
And since computing power
of mobiles are doubling every 18 months ( Moore's Law ),
nothing will stop algo-trading through a Mobile
Wallet as well ( Demat A/C on Wallet ? )
So , the expected has come about !
Here is
the full news report ( Mumbai Mirror / 19 Oct 2017 )
The
AI powered Equity Exchange-Traded Fund, which launched in the United States on
Wednesday, will use IBM’s Watson artificial intelligence technology to pick
several dozen stocks with potential to beat the market, the fund’s backers say.
The actively managed fund chooses stocks based on a set of rules that have been created by EquBot that uses artificial intelligence to analyse up to 10 years of data on thousands of stocks, including market sentiment, regulatory filings, news articles and social media posts.
It ranks each company based on the forecasted
probability that each will profit from current economic conditions and world
events.
“There has been an explosion of information,” Art Amador, co-founder of EquBot, said in an interview.
The explosion of data from the internet and elsewhere needs to be processed objectively, he said. “Humans do not have the capacity or the retention rate to do that.”
AI involves computers combing through troves of raw data to recognise patterns and predict outcomes, and joins a set of technologies displacing traditional – human – equity analysis.
Index-tracking ETFs have grown popular for letting investors trade entire markets as easily as a single stock, with no research necessary.
Even investors hoping to beat the market have increasingly turned to algorithms to pick stocks with attractive prospects.
EquBot that uses artificial intelligence to analyse up to 10 years of data on thousands of stocks, including market sentiment, regulatory filings, news articles and social media posts
21
Oct 2017
www.hemenparekh.in
/ blogs
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