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” »

Barclay Simpson, a leading Corporate Governance recruitment consultancy, has released its annual Security & Resilience market report which suggests that demand continues to rise for cyber security skills as an arms race develops between cyber criminals and those looking to secure systems and data from increasingly complex cyber attacks. With increased prominence and board attention, 68% of managers do not believe their security departments are sufficiently resourced given the demands that are made on them (down from 76%) whilst 69% have recruited or attempted to recruit in the last 6 months.

Like the idea of using Google to vote online for the best airline, steamed dumpling or health app?

What about using Google to vote for governor or president? That seems to be Google’s plan.

The search giant received a U.S. patent for a voting user interface (VUI). The interface would appear along with search results and would allow the user to vote for one or more contestants competing in a campaign.

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A fun story:

Advances in artificial intelligence have raised the question of a supercomputer running for office.

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See even Space gets it — the importance of great Cyber Security is needed now.

The disruption of capabilities that space assets provide would have immediate, far-reaching and devastating economic, political, and geostrategic consequences. Over the past two decades, space vulnerabilities have grown dramatically in a manner commensurate with terrestrial dependency on space-based capabilities and enablers. This is true for both civilian and military activities. Purposeful interference with space systems could rather easily trigger a retaliatory spiral of actions that could compromise a safe and secure operating environment in space. Accordingly, having available a range of measures to prevent or preempt an incident, or even full-up conflict, is of rapidly growing importance to an increasing number of countries.

The interruption of space services through a cyber attack could involve large, and possibly very complex, knock-on effects. As the space and cyberspace domains are linked operationally—space cannot exist without cyber and cyber, in some cases, without space—and they permeate all other warfighting domains (i.e. land, air, and sea), cyber-related vulnerabilities of space assets are a major concern. Global effects would be virtually instantaneous.

Continue reading “Governance challenges at the intersection of space and cyber security” »

“Mining in space will take a leap from the realms of science fiction towards commercial reality on Wednesday when Luxembourg launches an official initiative to promote the mining of asteroids for minerals.”

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While many people focus on bitcoin’s price fluctuations and potential increase in adoption, currency is just the first application of this game-changing technology. The core of the blockchain provides an alternative governance model to the current oligarchic control shown in the harsh austerity forced against the will of the Greek people.

In the six years of its existence, public awareness of this technology has grown by leaps and bounds. Now, most who are aware of this groundbreaking innovation know the blockchain is a ledger. Yet, this ledger is not simply for accounting monetary transactions.

At its core, it is a platform that allows people to come to agreement on virtually anything without intermediaries. It provides a foundation to make social contracts based on the principle of consensus. Foremost, it enables a larger function of accounting; performing checks and balance on the self interests and the corruptible tendencies that exist in society.

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“Alice Paul was the architect of some of the most outstanding political achievements on behalf of women in the 20th century. Born on January 11, 1885 to Quaker parents in Mt. Laurel, New Jersey, Alice Paul dedicated her life to the single cause of securing equal rights for all women.”

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Everyone today claims they are a digital disruptor or have AI; even if they have call forwarding on their Skype phone thay claim to have AI. So, I do believe there do needs to be better standardized definitions around some of these terms in order to keep confusion down plus not comprimise the real value that these areas bring into the marketplace.

When we talk about artificial intelligence (AI) — which we have done lot recently — what do we actually mean? AI experts and philosophers are beavering away on the issue. But having a usable definition of AI – and soon — is vital for regulation and governance because laws and policies simply will not operate without one.

Creepy robots image from Shutterstock.

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