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  • user 12:18 pm on August 11, 2018 Permalink | Reply
    Tags: , , , , Initiatives, , , Machine,   

    Lack of Collaboration Within Banks Holds Back Machine Learning Initiatives 

    Artificial intelligence and capabilities are increasing in financial services, but a of between and banks is holding progress, according to Nisha Talagala, vice president of engineering and CTO at ParallelM, an “MLops” software company based in California whose portfolio consists of 50% financial services clients. Talagala told Bank Innovation an obstacle [&;]
    Bank Innovation

  • user 12:18 am on July 31, 2018 Permalink | Reply
    Tags: , , , , , , , Leveraging, Machine, ,   

    Ally Financial Is Leveraging Machine Learning to ‘Better Serve Customers,’ Exec Says 

    , artificial intelligence, or may be future innovations for most institutions, but  Financial is already using these emerging technologies “to ,” Anand Talwar, deposits and consumer strategy executive at Ally, told Bank Innovation. “To better interact with customers, machine learning risk engines have been deployed,” Talwar said. “There has been a [&;]
    Bank Innovation

  • user 12:18 am on January 22, 2018 Permalink | Reply
    Tags: , , , Lookout, Machine, ,   

    Citi Ventures on the Lookout for Machine Learning Startups in 2018 

    EXCLUSIVE &; Since its launch in 2010, has focused on investments that are strategic to its parent, the global financial services provider Citigroup. But when your parent company is a bank that spans the world, you can get involved with a lot of things. The portfolio of Citi Ventures, which comprises 35 companies, [&;]
    Bank Innovation

  • user 12:19 am on June 9, 2017 Permalink | Reply
    Tags: , , , Machine, ,   

    Amazon Uses Its Machine Learning Tools for Lending 

    When talking about algorithms, definitely comes to mind. The e-commerce giant has (arguably) the most sophisticated ML toolset around that is for drone deliveries, online tailors, or its AWS offering. Turns out, Amazon’s lesser known operation – small business – is also powered by machine learning, Bank Innovation has learned. [&;]
    Bank Innovation

  • user 12:19 pm on April 4, 2017 Permalink | Reply
    Tags: , , , , Machine, , ,   

    Machine Learning Is the Future of Underwriting, But Startups Won’t be Driving It 

    is not new, it is just another level of system automation that financial institutions have been working on for ages. But when it comes to successfully deploying machine learning for , are better positioned than , according to Sandeep Sood, vice president of software engineering at Capital One. “Machine learning is absolutely [&;]
    Bank Innovation

  • user 12:18 pm on March 27, 2017 Permalink | Reply
    Tags: , , , , Machine, ,   

    Google is Already Worried About Regulation of Machine Learning 

     could be quite influential on cloud services (and FIs), which is why &;s experiments with it are ongoing, according to Gavan Corr, principal, financial services for Google Cloud. “Financial services has been at the forefront of machine learning &; a lot of what we call machine learning is really math. However, not everyone is deploying [&;]
    Bank Innovation

  • user 4:54 pm on September 11, 2016 Permalink | Reply
    Tags: , , Machine   

    Entrepreneurship and the Id Machine 



    Slavoj Zizek coined the term Id to describe an engine that allows for the materialization of one&;s desires. Id is the unorganized part of one&8217;s personality which contains one&8217;s most instinctual drives. The Id contains the libido which is the source of energy that is unresponsive to reality.

    Zizek applied the Id Machine to two movies by Andrei Tarkovsky: Solaris and Stalker.

    In both movies, protagonists are faced with an &;area&; &; in Stalker the area is called the room, located within the zone &8211; where their desires are materialized. Zizek names this &8220;area&8221; the Id Machine. The Id Machines are different in each movie. In Solaris, protagonists do not have any control over which desire materializes itself once they are in the Id machine, thus leading to terrifying realizations. In Stalker, protagonists need to figure out what they desires. The realization they sometimes do not know what they desire also leads to terrifying realizations.

    Tarkovsky&8217;s philosophical musings, as interpreted by Zizek give us one Id Machine that reveals the perils of our passive nature and another Id Machine that reveals the perils of our active nature. we get tripped by the unknown parts of our desires, by what we think are our desires and by our inability to formulate our desires.

    I think parallels can be drawn with entrepreneurs, startups and venture investing. VCs and entrepreneurs all enter an Id Machine at some point, where our desires materialize. Outcomes are never certain. Some outcomes are unexpected, others should have been expected, very few come out as expected.

    A Startup&8217;s main protagonists &8211; entrepreneurs and venture investors &8211; need to go through much introspection to sift through their desires. By desires I mean goals, visions, strategy, tactics. Clarity and transparency are paramount. Paradoxically, as the libido is the source of energy unresponsive to reality; the entrepreneur &8211; and to a lesser extent the venture investor &8211; also needs to be &8220;unresponsive to reality&8221;. In other words, the entrepreneur needs to be unshackled from the constraints of reality in order to achieve his dreams. However, she should not make complete abstraction of reality. Complete abstraction from reality leads to either Solaris or Stalker&8217;s Id Machine, with suboptimal results.

    I was recently asked what I actively sought in startups when investing. My answer was interoperability with the real world, pointing to the necessity for a blockchain startup to take into account the realities of the law, especially in the context of securities law in the capital markets space.

    I thought further about my interoperability answer in light of Tarkovsky&8217;s movies and Zizek&8217;s interpretation and believe I apply it to all startups. Further elaborating on interoperability, I define it as the quality to will a new reality while understanding the constraints of a current reality, incorporating these constraints within one&8217;s thought processes, and using them to the best of one&8217;s advantages. This is the quality I seek in an entrepreneur and in a startup. In Freudian terms, I seek an entrepreneur who can apply the right ego touches to her id. Too much ego touches and the id&8217;s desires never materialize, too little ego touches and the traps of the Id machine come in play. The right ego touch is also essential in regulating the id&8217;s tendency for instant gratification. Organic growth with the right tempo is often not recognized as one factor of success with startups. There are many pitfalls with fast growth and/or high valuations within short periods of time (too little growth also being a killer). This I view as being part of a certain interoperability with the real world, or with certain natural laws of organic growth.

    I find the above amusing on a personal note as I have always been more Jungian than Freudian in my interpretations. That may provide me material for another post.


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