“The Shared Cloud Lexicon and Taxonomy (Lexicon) was created in response to the 2023 US Treasury cloud report, Adoption of Cloud Services in the Financial Sector. The Treasury report noted a lack of common definition for terms related to cloud services and technology, critical services, and terms associated with contract negotiation and service level agreements.… Continue Reading
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Category Archives: Financial System
Goldman Sachs: AI Is Overhyped, Wildly Expensive, and Unreliable
404 Media, July 14, 2024. Goldman Sachs: AI Is Overhyped, Wildly Expensive, and Unreliable. “Investment giant Goldman Sachs published a research paper about the economic viability of generative AI which notes that there is “little to show for” the huge amount of spending on generative AI infrastructure and questions “whether this large spend will ever… Continue Reading
AI In Finance and Banking – July 15, 2024
AI In Finance and Banking – July 15, 2024 – This semi-monthly column by Sabrina I. Pacifici highlights news, government documents, papers by NGO/IGO organizations and economists, speeches, and industry white papers on the subject of AI’s fast paced impact on the banking and finance sectors. The chronological links provided are to the primary sources,… Continue Reading
(Almost) 200 Years of News-Based Economic Sentiment
(Almost) 200 Years of News-Based Economic Sentiment Jules H. van Binsbergen, Svetlana Bryzgalova, Mayukh Mukhopadhyay & Varun Sharma – Working Paper 32026. DOI 10.3386/w32026 Issue Date January 2024. “Using text from 200 million pages of 13,000 US local newspapers and machine learning methods, we construct a 170-year-long measure of economic sentiment at the country and state… Continue Reading
Follow the Crypto
“The cryptocurrency industry has been throwing money into politics unlike ever before, and that’s even after political donations from the industry skyrocketed in the 2022 election cycle. Despite the relatively small size of the industry, it has become one of the biggest spenders in the upcoming elections in the United States. Cryptocurrency companies have raised… Continue Reading
Everyone Has A Price And Corporations Know Yours
The Lever – “Digital surveillance and customer isolation are locking us into a consumer hell of personalized prices. Six years ago, I was at a conference at the University of Chicago, the intellectual heart of corporate-friendly capitalism, when my eyes found the cover of the Chicago Booth Review, the business school’s flagship publication. “Are You… Continue Reading
Private-Sector AI Indicators Dataset
DataIsPlural: “The Private-Sector AI Indicators dataset, from Georgetown University’s Emerging Technology Observatory, provides “a diverse range of indicators of AI-related activity for hundreds of companies worldwide, from startups to multinationals.” For each of the 670+ companies included, the dataset counts the number of AI-related research articles published by its employees (disaggregated by topic), AI-related patents… Continue Reading
Home Insurance Rates in America Are Wildly Distorted. Here’s Why.
The New York Times [unpaywalled]: “Enid, Okla., surrounded by farms about 90 minutes north of Oklahoma City, has an unwelcome distinction: Home insurance is more expensive, relative to home values, than almost anywhere else in the country. Enid is hardly the American community that is most vulnerable to damaging weather. Yet as a share of… Continue Reading
Goldman Sachs – GEN AI – Too Much Spend, Too Little Benefit?
GEN AI – Too Much Spend, Too Little Benefit? Issue 129, June 25, 2024. Global Macro Research. The Goldman Sachs Group, Inc. “Tech giants and beyond are set to spend over $1tn on AI capex in coming years, with so far little to show for it. So, will this large spend ever pay off? MIT’s… Continue Reading
LLRX June 2024 Issue
Articles and Columns for June 2024 – https://www/llrx.com Protecting the Vulnerable: Navigating Online Risks for Minors – Veronica Garrick’s paper is an insightful, factual and timely discussion of how in today’s digital age, minors are exposed to technology at a young age, presenting both great opportunities and risks. PowerPoint Has Its Problems – Jerry Lawson… Continue Reading
9 of largest banks in the world are settling a long-running lawsuit
The Daily Hodl: “JPMorgan Chase, Bank of America and 7 Mega Banks Paying $46,000,000 [that’s Trillion] Over Alleged Conspiracy To Rig Trillion-Dollar Derivatives Market… Lawyers representing investors have filed for preliminary approval of a $46 million cash settlement against JPMorgan Chase, Bank of America, Goldman Sachs, BNP Paribas, Citigroup, Deutsche Bank, Morgan Stanley, NatWest and… Continue Reading
FTC – Who’s who in scams: a spring roundup
FTC: “Scammers are all about spinning lies, but they still operate in the real world. Many scammers pretend to be well-known businesses to gain trust and make their stories seem more believable. And scammers use real-world methods to contact people and to get paid. Reports to the FTC’s Consumer Sentinel Network point to some of… Continue Reading
