Lifeboat Foundation

Automated online advice platforms, the so-called robo advisors, have long implied the use of algorithms eliminates conflicts of interest. It’s a premise that’s gained traction with both consumers and regulators. But a new report by the Financial Industry Regulatory Authority casts doubt on their ability to do just that.

With robo advisors like Schwab Intelligent Portfolios, Betterment and Wealthfront now managing billions of dollars worth of client assets, FINRA investigated these online advice providers. The regulator released a report Tuesday that evaluated several key service areas including governance and supervision, the suitability of recommendations, conflicts of interest, customer risk profiles and portfolio rebalancing.

FINRA found that while digital advice will likely play an increasingly important role in wealth management, investors should be aware that conflicts of interest can exist even in providers powered by algorithms. Specifically, the advice consumers receive depends largely on the digital advice provider’s investment approach and the underlying assumptions used.

Continue reading “Turns Out Robots Don’t Offer Conflict-Free Advice Either” »

Very concerning: 72% of all India companies were hacked in 2015. How many were hosting consumer and business data for non-Indian companies say US or European companies?

According to KPMG’s, Cyber Crime Survey Report 2015, around 72 per cent of the companies in India have faced cyber-attacks in the year 2015. In India a spate of cyber security issues have been witnessed like the Gaana.com or Ola Cabs apps being hacked. Such issues have raised the alarm for the whole enterprise community. And it doesn’t seem to be stopping here. According to a report from McAfee Labs, the number of cyber attacks where malware holds user data hostage is expected to grow in 2016 as hackers target more companies and advanced software is able to compromise more types of data. In many cases the objective would be financial gain or corporate espionage, either ways, resulting in heavy losses for the enterprise.

Today, no single new age enterprise is immune to cyber threats. The humongous amount of information popping out of various social and mobile platforms continues to add to organizations’ vulnerabilities, making them attractive targets for complex cyber crimes.

Continue reading “72% Indian companies faced cyber attacks in 2015, yet most do not have a threat response strategy” »

I do believe we’re within a 7 to 8 yr window at this point with Quantum hitting the broader main stream computing infrastructure. However, we have banks in Europe that have been using the technology for network communications, Los Alamos Labs experimenting since late 2011 with Quantum Internet, now China is launching their own Quantum Satellite for wireless communications; so I do suggest a strategy needs to be developed over the next 2 to 3 yrs for government & industry around how to manage & plan for deployment of Quantum especially with China & Russia’s interest.

New research demonstrating that quantum computing is now just an engineering challenge moves the possibility of encryption-cracking machines to the front burner.

High-resolution satellite imagery can be used to monitor the flow of goods and commodities to measure global economic indicators. Our imagery can help economists, supply chain managers, hedge fund traders, and logistics operators identify operational inefficiencies and anticipate supply chain bottlenecks from above.

Here’s an example of our imagery in action, depicting supply chain changes in the Port of Long Beach, the second-busiest container port in the United States. The time lapse imagery shows dynamic fluctuations in features including shipping containers, cars and ships.

There finally comes a point that you have to question why even have unique identity cards or numbers anymore.

The United States Internal Revenue Services have been battling a huge hacking scandal for nearly a year now. In the month of May last year, the Internal Revenue Services discovered that their security system shad been compromised along with the account details and personal information of over 100,000 people.

Interesting Question to ask.

The battle between the FBI and Apple over the unlocking of a terrorist’s iPhone will likely require Congress to create new legislation. That’s because there really aren’t any existing laws which encompass technologies such as these. The battle is between security and privacy, with Silicon Valley fighting for privacy. The debates in Congress will be ugly, uninformed, and emotional. Lawmakers won’t know which side to pick and will flip flop between what lobbyists ask and the public’s fear du jour. And because there is no consensus on what is right or wrong, any decision they make today will likely be changed tomorrow.

This is a prelude of things to come, not only with encryption technologies, but everything from artificial intelligence to drones, robotics, and synthetic biology. Technology is moving faster than our ability to understand it, and there is no consensus on what is ethical. It isn’t just the lawmakers who are not well-informed, the originators of the technologies themselves don’t understand the full ramifications of what they are creating. They may take strong positions today based on their emotions and financial interests, but as they learn more, they too will change their views.

Continue reading “As Technology Barrels Ahead—Will Ethics Get Left in the Dust?” »

More great news on Quantum Networks; some banks in Europe are leveraging the technology to communicate among themselves.

Light is everywhere. Even the darkest of rooms in our homes contain a handful of blinking LEDs. But what is light? Few of us ever stop to think about this question. Around a hundred years ago scientists discovered that light comes in granules, much like the sand on a beach, which we now call photons.

These are truly bizarre objects that obey the rules of the quantum world. The rules allow some pairs of photons to share a property called entanglement. After being entangled, two photons behave as one object. Changing one photon will affect the other at exactly the same time, no matter how far apart they are.

Continue reading “Sharing secrets with light” »

Attention to all fortune tellers, tea leave readers, Shaman/ Shawoman, etc. Wall Street needs a new futurist to predict the 2016 Stock Market.

So far, 2016 has been the worst opening act in the history of the stock markets. The moving parts, and the speed at which they are changing is mind dulling. Predicting what is coming next will take a rare talent – if it does exist, it will likely be fleeting.

Investment success is really a combination of common sense, experience, and to some extent luck. Part of my plan going into the next 10 months is to review my investment thesis. In other words, define what I believed before they year began, so here goes.

Continue reading “Rare talent needed to predict 2016 stock market” »

I luv it — India get’s it. You have to make sure that your IT foundation is solid first before unleashing things like AI. Connected AI requires a solid and secured infrastructure foundation 1st. In order for customers to buy into Cloud & the whole IoT, and connected AI set of products and services; the customer must feel that they can trust you fully.

By Jayadev Parida

Take a stock of the past, analyse the present cliché and frame a strategy for future. In the recent years, India’s approach to cyber security has experienced a shift from style to substance. Prime Minister Modi’s foreign policy has made various strong interventions on cyber security matters. Those interventions need to be materialised to manoeuvre the interest. Presumably, the Prime Minister Office (PMO) is likely to invest both political and capital energy to enhance a cautious cyber-strategy. A dedicated Division in the Indian Ministry of External Affairs (MEA) for cyber security is a value addition to that. In 2015, Minister of Communications and Information Technology in a written reply to the Lok Sabha stated that government allocated Rs 755 crore to combat cyber security threats over a period of five years. But, this financial outlay is quite negligible as the nature of threat is quite huge and unpredictable.

Continue reading “Need To Beef Up India’s Cyber Security Policies And Mechanisms – Analysis” »