The World’s Biggest Banks Are Doubling Down On Artificial Intelligence

CTO of Bank HapoalimHAIM PINTO

“Bank Hapoalim — Israel

  • Over the summer, Bank Hapoalim participated in a $30+ million funding round for ThetaRay, a cybersecurity solution provider using AI to help financial firms detect fraud and other anomalies in banking practices.
  • After partnering with the Tel Aviv-based startup giving biometric access to bank accounts, customers won’t even need to visit a physical branch to open a new account. AnyVision utilizes AI to produce what it calls the “world’s leading recognition system” that can be used, or a variety of purposes.

Capital One — United States

  • Coming in as one of the top 50 best US financial institutions on Forbes US Best Banks list, Capital One has been beefing up its AI capabilities by prioritizing ethical AI in its systems.
  • Omar Flórez, Senior Research Manager, decided to create a comprehensive Spanish-English dictionary of AI terms, which is available on GitHub as an open source project and freely available to anyone who wants to use it or add to it.

Sberbank — Russia

  • In 2018, the Russian bank ran its “Classic AI Competition” where it invited teams from around the country to compete in using AI to compose a poem in the likeness of a specified author with 1,000,000 rubles in prizes for placing teams.”

https://www.google.com/amp/s/www.forbes.com/sites/cognitiveworld/2019/02/24/the-worlds-biggest-banks-are-doubling-down-on-artificial-intelligence/amp/

AliExpress now controls 69% of Russia’s e-commerce market

IMAGE SOURCE: GETTY IMAGES

Yandex (NASDAQ:YNDX), which owns Russia’s top search engine, recently launched an online marketplace called Beru, which it claims could become one of the country’s top three e-commerce platforms for local goods by the end of 2020.
AliExpress now controls 69% of Russia’s e-commerce market according to Ecommerce News Europe. Alibaba also launched a dedicated version of Tmall for Russian shoppers last year, and recently inked a $2 billion Kremlin-backed e-commerce venture with billionaire Alisher Usmanov.

To counter Google and lock in its users, Yandex aggressively expanded its ecosystem of services — which include cloud and email services, a virtual assistant called Alice, an AI-powered recommendations platform, streaming videos on its homepage, rides and food deliveries from Yandex.Taxi”

https://www.google.com/amp/s/www.fool.com/amp/investing/2018/10/29/alibaba-faces-a-new-rival-in-russia-yandex.aspx