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Share to Twitter Share to Linkedin In light of the swift ascendancy of cryptocurrency and the mass adoption of digital assets by novice investors, the Securities and Exchange Commission (SEC) announced this week that the agency will add around 20 additional positions . This is in response to the cryptocurrency market, which in the last few years has skyrocketed to more than a $2 trillion market valuation . These important roles will be based within the division responsible for protecting investors who are buying, selling and trading digital assets in crypto markets. The new hires will also be tasked with investigating cyber-related threats, ensuring adequate cybersecurity controls are in place and that SEC registrants and public companies are transparent in disclosing cybersecurity breaches. The Crypto Cops The Crypto Assets and Cyber Unit in the Division of Enforcement will escalate to around 50 dedicated positions from about 30 current white-collar … [Read more...] about The SEC Is Hiring Cryptocurrency Cops To Investigate Illicit Activities

Share to Twitter Share to Linkedin One of the world’s most successful drone delivery companies will be expanding to mainland Europe and the United States in 2023. Manna Aero has already done over 100,000 drone deliveries in multiple locations in Ireland, and is trending to hit over 1,000 deliveries per day in individual dense urban markets. But it won’t be instantly available everywhere. And Manna is not releasing its first target market in the U.S. “Nobody is to go full throttle up scaling,” says CEO Bobby Healy on a recent TechFirst podcast. “We're more interested in demonstrating we can operate in multiple markets, and that we can do, say, a thousand deliveries a day in a very dense area. And so that's what we'll be doing by this summer ... in Dublin.” Google sister company Wing is probably leading drone delivery in the U.S., right now, running deliveries in the Dallas-Fort Worth area in addition to other locations in the U.S. and globally. … [Read more...] about Irish Drone Delivery Startup Expanding To U.S. And Mainland Europe

Share to Twitter Share to Linkedin The highly anticipated release of GPT-4, the latest iteration of OpenAI's groundbreaking language model, has sent ripples of excitement throughout the banking and fintech industry. As ChatGPT’s capabilities expand, the traditional roles of personal finance management and financial advisors may soon become obsolete, paving the way for a new era of customized and intelligent financial solutions. The latest release of GTP-4 shows how quick ChatGPT is evolving. Industry giants like Microsoft MSFT and fintech firms like Stripe recently announced integrations of ChatGTP-4, while banks like Morgan Stanley Wealth have publicly announced their internal adoption. With its increased ability to deliver empathetic advice, potential for providing personalized insights, and delivery of real-time information, the ChatGTP-4 and beyond is a dream come true for innovators in financial services and technology. Consumer Expectations: … [Read more...] about A Brave New World: ChatGPT’s Potential To Reshape The Financial Services Landscape

Share to Twitter Share to Linkedin In this Forbes column from December 2022, I talked briefly about my pursuit of a lifelong dream to become a private pilot and how, over the past year, I’ve been writing a book about the experience. I was recently reviewing the first draft of the book manuscript while, in the back of my mind, considering ideas for a column centered on entrepreneurship. My writing worlds collided while I was reading through a part of my new book that addresses whether you must be some sort of genius to fly. In that earlier column, I noted that while you don’t have to be a member of the Mensa Society to command an aircraft, you do need a combination of unique traits to get through the rigors of flight training. While reading the list of traits I detailed almost a year ago, I realized several are relevant to succeeding as an entrepreneur. This may not be too surprising. Starting a company and flying a small plane have elements of risk … [Read more...] about Want To Be An Entrepreneur? Think Like A Pilot

Share to Twitter Share to Linkedin Center-stage startups may soon become gamechangers; meanwhile their journey could already contain a valuable lesson for us all Innovation Spotlight The journey of each start up is unique, yet the challenges they encounter are not. The ways they choose to overcome obstacles on their path, the creativity it takes to maneuver and prevail along the way and their ultimate recipes for success can all fill chapters in a potential guidebook for new starts up. Each company has something to contribute to this vast shared pool of collective knowledge. Foresight Autonomous Holdings (Nasdaq and TASE: FRSX) is an innovator in automotive vision systems; it develops smart multi-spectral vision software solutions and cellular-based applications. Startup’s founder and CEO, Haim Siboni, explains: “Our vision solutions vary. They include modules of automatic calibration and a dense three-dimensional (3D) point cloud that can be … [Read more...] about The Trailblazers: Introducing Foresight

Share to Twitter Share to Linkedin Jakob Rost, CEO and cofounder at Ayoconnect . With over a decade of experience in e-commerce, fintech and financial services in Indonesia's tech industry, I have gained valuable insights into the evolution of open banking. Open banking has gained significant traction in recent years as a transformative concept in the financial industry. The pandemic has accelerated this adoption even further, as evidenced by the increased popularity of neobanks and alternative financial services aiming to enhance the digital banking experience. According to a report by Polaris Market Research , the global open banking market size was valued at $16.14 billion in 2021 and is projected to reach $128.12 billion by 2030, growing at a CAGR of 26.8% during the forecasted period. Polaris' research also highlighted the Asia Pacific region as the one that will experience the most growth over the forecast period, a trend that I have … [Read more...] about Learning From The Evolution Of Open Banking

Share to Twitter Share to Linkedin Anita Samojednik is CEO of Paro, a startup disrupting the way companies access on-demand financial expertise. The term "quiet quitting" has dominated media headlines and social media over the past few months. TikTok might have popularized the buzzword, but the concept is far from new. Despite the name, quiet quitting has little to do with quitting. Rather, an employee chooses to work their required hours and take on no additional responsibilities beyond their defined role. To me, this isn’t surprising. After a global pandemic, people are paying more attention to their mental health and personal well-being. According to my company’s recent survey of more than 2,000 full-time and self-employed knowledge workers, 39% said work-life balance was the most important aspect of their job in 2022, ahead of 28% who cited compensation. Given professionals’ focus on creating a better work-life balance, along with many … [Read more...] about Three Ways To Prevent Quiet Quitting

Share to Twitter Share to Linkedin Evan Coopersmith, EVP of Data Science at AE.Studio . Good habits have upfront costs and long-term benefits. Bad habits have upfront benefits and long-term costs. A cigarette offers a short-term benefit in terms of the stimulation from the nicotine, the social camaraderie of the step outside the office to relax with a colleague and the physical enjoyment orally and otherwise. The long-term costs are well-understood (increased risk of cancer and death certainly appear at the top of the list). Trips to the gym, especially those first few, can involve significant short-term suffering with respect to physical soreness, fatigue and, if you’re socially conscious, the sense of being dramatically weaker than the human beings around you. Decisions The examples above are painfully obvious in terms of their short-term/long-term costs/benefits. There are countless other examples with respect to physical, mental and … [Read more...] about Why We Don’t Play The Long Game

Share to Twitter Share to Linkedin Yat Siu, chairman of Asia’s largest blockchain investor Animoca Brands , thinks volatile cryptocurrencies are a relatively safe investment as the traditional financial world is rocked by the Credit Suisse turmoil and the failure of a string of U.S. banks. “If you take a look what happened recently with the whole development with Silicon Valley Bank, which was obviously shocking, and with Credit Suisse being taken over by UBS…actually the narrative was played out quite differently for crypto,” Siu said via a video link on Monday at the Web3 Investment Summit in Hong Kong. “It started to actually bifurcate as some people had predicted, which is that sort of future, let’s say, safety net.” To be sure, cryptocurrencies are risky investments. The largely unregulated market saw roughly 60% of its value evaporate from its peak in November 2021, according to CoinGecko as of Monday. It comes after a series of corporate … [Read more...] about Animoca’s Yat Siu Says Crypto Is Becoming A ‘Safety Net’ Amid Banking Crisis

Share to Twitter Share to Linkedin Alex Kreger, UX Strategist & Founder of the financial UX design agency UXDA, increases banking and fintech products' value in 36 countries. In just two months after its launch, GPT-3-powered ChatGPT reached 100 million monthly active users, becoming the fastest-growing app in history, according to a UBS report ( via Reuters ). ChatGPT is a language model that uses natural language processing and artificial intelligence (AI) machine learning techniques to understand and generate human-like responses to user queries. I compare GPT's appearance with the launch of the internet in terms of its impact on the future of humanity. It enables machines to understand and generate language interactions in a revolutionary way. GPT (generative pre-trained transformer) AI could disrupt how we engage with technology much like the internet did. It's only been about two months since the launch (as of the time of this … [Read more...] about The Future Of AI In Banking