We’ve moved! A new place to find Answers On…

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We recently launched Answers On, our new site dedicated to bringing you — the global professional — the vision and insights to guide the conversation around key global business topics.

You can visit the new site at tr.com/answers, and learn more about the launch in this note from the editors.

The robots are coming? Think again

A robot gestures during a demonstration of its skill during the seventh  Soccer World Championship f..

The fifth Data Science Insights talk, chaired by Axel Threlfall, Reuters Editor at Large, took place at Imperial College London, and featured Jerry Kaplan, entrepreneur, author and futurist. This post was written by Ti Maja, Manager, Corporate Compliance.

2015 could be classed as the year the artificial intelligence (A.I.) alarm started ringing. Stephen Hawking prophesied A.I could “spell the end of the human race.” Elon Musk hazarded that “with artificial intelligence we are summoning the demon.” Sir Clive Sinclair declared artificial intelligence will doom mankind.

So are we staring Skynet in the face? Are we doomed to be batteries in the Matrix? Are the incoming Amazon Prime Drone deliveries really a signifier of the human vs. machine battle to come? The future according to Stanford Legal Informatics CodeX fellow, entrepreneur, technical innovator, bestselling author and futurist Jerry Kaplan is a little bit less farfetched and potentially a lot more golden. (more…)

Today’s kids are tomorrow’s innovators

Apps For Good

This is my fifth year of working with the UK-based Apps for Good program, and it’s incredible to see how the program has grown from a handful of schools and perhaps a hundred or so kids to hundreds of schools and tens of thousands of students taking part just a few short years later. The evolution has been fun to watch, with many significant lessons learned.

  1. When I first was asked to serve as an ambassador for the London Tech City project, I worked with the British government to help revise the school ICT curriculum. Within three years, we saw a complete overhaul in England, so now, every child entering school today will know how to program in at least two languages by the time they are 11! Again…what were you doing at 11?

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Send in the crowds – investment opportunities for the masses

EntrepreneursTalk

In the first of a new series of EntrepreursTalk@CassJeff Lynn, one of Business Insider’s 50 coolest people in UK tech, spoke about the power of putting investment opportunities into the hands of the masses – crowdfunding.

Shaping a new market

Seedrs was the first equity-based crowdfunding platform in the world to receive regulatory approval from the Financial Services Authority. Now, three years after launch, the company which started life as CEO Jeff Lynn’s MBA project is no longer a niche business but part of the financial mainstream. They’re approaching 300 deals done, all the way from £30k to multi-million, from high tech businesses to theatre productions.

As Jeff explained, crowdfunding can be split into three main types, all constructed around the main concept that any platform is acting as an intermediary for an individual or organization to raise finance. Rewards based platforms such as Kickstarter and Indiegogo offer some non-monetary reward in exchange for your cash, such as the first release of a new product, and they provide an additional advantage by proving to would-be investors that there is market demand for whatever you’re trying to sell. Kano, the build-your-own computer company, spoke at an earlier Cass talk about the benefit they gained had from Kickstarter, particularly in securing VC investment.

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Thomson Reuters Annual Cost of Compliance Survey

Thomson Reuters compliance costs

Thomson Reuters Regulatory Intelligence has launched its annual survey on the cost of compliance for regulated firms.

The survey results will draw a year-on-year comparison allowing you to benchmark your views against your compliance peers, whilst gaining insight into the direction the role of compliance is taking within the financial services industry.

The survey should take around 5 minutes to complete. All information will be treated in the strictest confidence and results will be displayed anonymously. We intend to collate the results for a special report on the cost of compliance which will be available in Q2 2016.

The survey will close on Friday January 29th, 2016.

Take Survey

Powering financial innovation with Healthcare Intelligence app

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For years, healthcare financial research analysts have been burdened with the process of collecting and analyzing drug pipeline information to better determine the market size and scope for particular disease areas like diabetes, hypertension and cancers.

Typically, this information was gathered from many different sources, which resulted in a practice that was heavily fragmented, inefficient and time-consuming. To improve this workflow, and provide these professionals with the content they needed to make important business decisions, we developed an app that embeds both financial market and healthcare data together in a one-stop location.

Powered by our world-class IP & Science Cortellis content, and streamlined through our flagship financial desktop Eikon, the Healthcare Intelligence app enables users to analyze drug pipelines, revenues and competitive landscape for a given indication and disease in just a few clicks. For healthcare financial research professionals, this means less time collecting and curating drug data from various databases, and more time generating insights, formulating investment decisions and assessing opportunities. In a matter of seconds, users have all the detailed information they need to make educated and timely business decisions for themselves and their customers. (more…)

Machine learning and big data

Big data

A few posts ago, I wrote about the impact of the ‘Findustrial Revolution’ on the financial community. According to McKinsey, there are now 20,000 FinTech companies in New York and London alone.

This seems to be driven by a confluence of events: tougher regulation, massive pressure on cost, newer technologies and thousands of technologists leaving the incumbent banks full of ideas, money and time to disrupt the old model.

Do regulators control or encourage these changes? Does innovation make the financial system better and safer, or more risky?

Several governments are making concerted efforts to attract and encourage more of this activity in their countries, with the UK, US, Israel and Japan leading the charge.

The ‘Findustrial Revolution’ is no longer a question of ‘if’ but a question of ‘when and how.’ (more…)

A global information and intelligence platform to combat modern day slavery

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This week Thomson Reuters unveils a potential new weapon in the fight against modern day slavery. We are inviting the community of anti-slavery organizations to work with us to create a global information and intelligence sharing platform.

The International Labour Organization estimates forced labour is a $150 billion industry which enslaves some 21 million people.

The reputational risk to companies unwittingly exposed to slavery in their supply chain is now added to a real legal risk. At our anti-slavery seminar this week, attended by more than 170 people, I sat with Kevin Hyland, the UK’s anti-slavery commissioner and therefore the chief enforcer of the Modern Slavery Act. The Act requires firms to report formally on how they are seeking to combat slavery across their supply chains. And since those supply chains routinely span countries and continents the Act has global reach.

(more…)

Investing in blockchain technology start-up Fluent

Bitcoin

In the latest in a series of collaborations with external organizations (such as with IBM Watson, Samsung, and our Thomson Reuters Labs – Waterloo Region), we have recently announced a sponsorship and investment in Fluent, a financial technology start-up that offers a cloud-based financial transaction network.

Fluent enables real-time, low-cost, simple and secure invoicing and payments along global supply chains via blockchain technology.

The use of blockchain technology and bitcoin, or digital currency for financial transactions online, is relatively new. Bitcoin provides real-time, instant payment in the cloud versus the traditional transaction payment methods through banks or other institutions that can take up to three days.

Bitcoin uses cryptography to provide a virtual, secure payment method that bypasses central authorities like banks and international borders. Blockchain technology is the virtual “ledger” that manages bitcoin transfers, providing faster and more secure payments over the cloud. While there’s some debate around its use, many businesses and companies are exploring the use of digital currency and blockchain technology.

This partnership with Fluent bolsters our efforts to explore the potential of bitcoin and blockchain technology for our products and customers. Scott Manuel, head of Product Management & Delivery, Advanced Product Innovation, tells us more: (more…)

It’s all about collaboration

It’s a cliché to say that technology is changing rapidly, and changing the world with it. And yet there seems to be no better way to express what’s happening these days in business. Every sector find themselves increasingly called upon to understand and implement new technologies. For them, it’s about seeing the world in a new way, embracing change, and taking steps to make sure they’re not left behind in today’s information economy.

At Thomson Reuters, our partners are playing a pivotal part in that transformation. (more…)