“To set up an account on a website or app using a passkey, you first choose a username for the new account, then use FaceID or Touch ID to confirm that it’s really you who’s using the device. You don’t ever pick a password. Your device handles generation and storage of the passkey, which iCloud Keychain synchronizes across all your Apple devices.”
- “Across all industries and organizations, financial crime cost companies and organizations $1.45 trillion in 2019
- ‘There is this concept of values’ for AI, said Manuela Veloso, who besides her work for J.P. Morgan has worked as a professor in Carnegie Mellon University’s school of computer science. ‘First, we want AI to be able to eradicate financial crime.’”
- “‘Where [AI] can be leveraged in the future is by further automating analysis, automating responses and reducing staff’s eye-on-screen time,’ he said. ‘However, with any automation, you must balance that with having trained professionals to guide the tools. While AI and ML [machine learning] are great for replacing pools of personnel performing rote tasks, they will never replace instinct and experience. You still need someone to tailor the tools to your environment and company, and course-correct when needed.’”
“There is a high demand for AI and ML in almost all industries, and it’s not going to reduce. Currently, AI technology holds a global market value of over $30 billion US. It’s forecasted that the global AI market will grow rapidly in the coming years, reaching up to $126 billion US by 2025.
In Fintech alone, the use of AI in 2019 reached an estimated value of $6.67 billion US and is expected to grow over $22.6 billion US in just five years. The fintech market also expects a CAGR of 23.37% until 2025, and there are lots of factors even fastening the growth.”
“One of the challenges with anomaly detection, especially when using deep learning techniques, is that it’s sometimes difficult to understand why certain transactions or companies were singled out as suspicious. Strictly speaking, the machine simply yields groupings and anomalies, hence requiring a human specialist to interpret the results. But what if an AI could tell us not only what the anomalies are, but also why they were classified as such? This emerging discipline is called explainable AI (XAI).”