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PricewaterhouseCoopers, the large accounting and management consulting firm, released a startling report indicating that workers will be highly impacted by the fast-growing rise of artificial intelligence, robots and related technologies.

Banking and financial services employees, factory workers and office staff will seemingly face the loss of their jobs—or need to find a way to reinvent themselves in this brave new world.

The term “artificial intelligence” is loosely used to describe the ability of a machine to mimic human behavior. AI includes well-known applications, such as Siri, GPS, Spotify, self-driving vehicles and the larger-than-life robots made by Boston Robotics that perform incredible feats.

Fintech risk management systems are getting a makeover. By adding machine learning technologies to their traditional rules-based fraud management systems, banks hope that they can do better at catching real criminals while declining fewer legitimate credit card transactions. ML technologies, though, have their own gotchas.

Here and there, although not necessarily everywhere, banks are introducing machine language technologies into their fraud detection systems. Essentially, the objective is twofold: to detect real incidents of fraud quickly and accurately, and to do so while preventing false positives, in which legitimate transactions are wrongly tagged as suspicious.

Large banks have led the way in spending on ML-enabled risk management, says Steven D’Alfonso, a research director at IDC responsible for compliance, fraud, and risk analytics strategies for IDC Financial Insights. Lots of bigger banks plan to expand the artificial intelligence (AI)-enabled fraud detection systems into enterprise-wide decision support systems. Many smaller banks that haven’t yet embarked on ML are expected to follow by signing on for ML managed services.

The previously “impossible to solve” problems for some of the biggest financial, technological and academic institutions will soon be solved in Poughkeepsie.

That’s according to IBM, which announced the opening of its first Quantum Computing Center on Wednesday, based on its Poughkeepsie campus.

Quantum computing is “nothing short of a revolution for how we are going to process information,” Director of IBM Research Dario Gil said. While computers have traditionally processed binary code — a collection of ones and zeroes — quantum computers, he said, process information in qubits, or quantum bits.

https://www.youtube.com/watch?v=c8F57ZaE9bw&t=1s

Biometric mobile wallets — payment technologies using our faces, fingerprints or retinas — already exist. Notable technology companies including Apple AAPL, +2.62% and Amazon AMZN, +0.26% await a day when a critical mass of consumers is sufficiently comfortable walking into a store and paying for goods without a card or device, according to Sinnreich, author of “The Essential Guide to Intellectual Property.”

Removing the last physical barrier — smartphones, watches, smart glasses and credit cards — between our bodies and corporate America is the final frontier in mobile payments. “The deeper the tie between the human body and the financial networks, the fewer intimate spaces will be left unconnected to those networks,” Sinnreich said.

Owning one full bitcoin is becoming a recognized attainment goal. And thereby hangs a tale.

Is it just a numbers game? Isn’t the unit a bit arbitrary and meaningless?…

The logistics and the math are compelling. I recognized the importance of reaching this personal milestone more than 8 years ago. But I was a nobody. No one cared. Then, in April 2019, we started to see articles in legitimate venues about this concept—and articulated in exactly this way. I borrowed the title of this post from this article in Medium.

Who Says So?