Can AI Regulate Banks Better Than Humans?
Human-run institutions have had a spectacularly poor track record at monitoring the activity of the world's largest banks, so companies are turning to artificial intelligence instead.
What's the Latest Development?
Now that the ability of our governmental institutions to regulate the banking industry has become a laughing stock, artificial intelligence may be better suited to tell us when something is amiss. In the latest scandal, emails taken from the English bank Barclays reveal how employees illegally rigged an important interest rate in the bank's favor. That prompted then-CEO Bob Diamond to say: "When I read the emails from those traders I got physically ill." Now companies are working on AI technology that could comb vast amounts of internal documents and raise red flags at aberrant behavior.
What's the Big Idea?
Autonomy, a Hewlett-Packard subsidiary, is already capable of searching through a company's 'unstructured' data, rather than information held in corporate databases. "This could include tweets, text messages, Skype video, smartphone data, emails, or transcripts from phone calls. The software then hunts for examples of behaviour that varies from normal practice." Another organization in Poland has written algorithms to help police detect money laundering, based on unusual bank transactions that suggest wrongdoing. In some cases, even what is regarded as deleted data is accessible to the do-gooder software.
Photo credit: Shutterstock.com
Pfizer's partnerships strengthen their ability to deliver vaccines in developing countries.
- Community healthcare workers face many challenges in their work, including often traveling far distances to see their clients
- Pfizer is helping to drive the UN's sustainable development goals through partnerships.
- Pfizer partnered with AMP and the World Health Organization to develop a training program for healthcare workers.
The stories we tell define history. So who gets the mic in America?
- History is written by lions. But it's also recorded by lambs.
- In order to understand American history, we need to look at the events of the past as more prismatic than the narrative given to us in high school textbooks.
- Including different voices can paint a more full and vibrant portrait of America. Which is why more walks of American life can and should be storytellers.
There is no doubt that the historical Jesus, the man who was executed by the Roman State in the first century CE, was a brown-skinned, Middle Eastern Jew.
I grew up in a Christian home, where a photo of Jesus hung on my bedroom wall. I still have it. It is schmaltzy and rather tacky in that 1970s kind of way, but as a little girl I loved it. In this picture, Jesus looks kind and gentle, he gazes down at me lovingly. He is also light-haired, blue-eyed, and very white.
Orangutans join humans and bees in a very exclusive club
- Orangutan mothers wait to sound a danger alarm to avoid tipping off predators to their location
- It took a couple of researchers crawling around the Sumatran jungle to discover the phenomenon
- This ability may come from a common ancestor
SMARTER FASTER trademarks owned by The Big Think, Inc. All rights reserved.