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The Baltic region embraces AI project development in Silicon Valley style

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The Baltics are truly becoming a must not omit region to talk about when addressing innovative AI projects.

Whenever we are talking about Maxima, the world’s first grocery retailer implementing unique Artificial Intelligence (AI) solutions, Oxipit’s ChestEye artificial intelligence-based radiology software suite which helps radiologists improve productivity or Gosu.ai, a gaming startup which provides tools and guidance to gamers using machine learning.

An article on sifted.eu points out that in recent years, Estonia has been a buzzword for startup success, with companies like Bolt, Skype and TransferWise having a global impact. However, with second-hand clothing marketplace Vinted raising a €128m in Series E funding late last year — and in the process becoming Lithuania’s first tech unicorn — it is clearly time to look more closely at Estonia’s Baltic neighbor.

Last year saw more than €170.6m invested in Lithuanian startups. While this was lower than the €183m raised in 2018, it highlights the money being pumped into the local ecosystem. According to a Dealroom report from last November, since 2013 Lithuania has topped the list of Baltic nations when it comes to venture capital investment, with an average annual growth rate of 135% between 2013 and 2018 (compared with 88% for Estonia and just 8% for Latvia).

In fact, in terms of overall invested venture capital, the country was fourth in the CEE region during those years, behind only Estonia, Poland, and Romania (though far behind those top three).

In December, Go Vilnius, the business development agency of the Lithuanian capital, opened a Start-up Museum, showcasing the success stories of 12 local start-ups. Those highlighted included Vinted, as well as companies like nanosatellite manufacturer Nanoavionics, mobility platform Trafi, cybersecurity company Tesonet and car-sharing startup CityBee.

But, coming back to AI projects, some of the most interesting innovations are coming from the Baltic region.

“Artificial intelligence” (AI) has become one of the buzzwords of the decade and it seems that it’s going to carry on in the new decade as well, as a potentially important part of the answer to humanity’s biggest challenges in everything from addressing climate change to fighting cancer and even halting the aging process.

As mentioned earlier, Maxima is the world’s first grocery retailer implementing unique Artificial Intelligence (AI) solutions, aimed at improving work efficiency and the customer shopping experience, streamlining operations and reducing costs of running its stores, and balancing employee workloads. Shelf stocking and checkout lines are already being managed by Artificial Intelligence solutions in larger Maxima stores.

The Artificial Intelligence solution is piloted by the Maxima chain in Latvia to ensure that customers’ favorite products, such as dairy products, meat, and beverages, are readily available. The process is enabled by the AI employing hi-res video cameras to analyze product availability and triggering operational commands, executed by both systems and people in synergy.

An identical approach is used at checkouts: if a higher than average amount of people are waiting at the checkouts, the store manager receives this information via tablet and effectively organizes workloads to open another cash register for faster customer service.

The Nordic-Baltic Region is one of the few regions that have declared a collaboration on artificial intelligence. The declaration was released in May 2018 and was called simply AI in the Nordic-Baltic Region. It was said within this statement that AI can ‘double the economic growth potential in the long-term’, a bold claim to be sure. There is a high digital maturity in the Nordics.

TECH Conference Europe Spring Edition in Tallinn will take place on the 5th of May at Radisson Blu Hotel Olümpia and will also examine the Current State Of The “Ai In The Nordic-Baltic Region” Policy in an interesting panel discussion by leading AI experts. Register now to secure your seat! (limited to 125 delegates)

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Blockchain

Cryptocurrency Market Report 2020: Technology, Applications and Implementation for Financial Services

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TCS Positioned as a Leader in Capital Markets Operations by Everest Group

Vlad Poptamas

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Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been recognized as a Leader in the Everest Group PEAK Matrix™ for Capital Markets Operations1.

In an assessment of 24 global service providers offering capital markets operations services, TCS was placed highest for Vision and Capability, as well as Market Impact. Additionally, it was named a Star Performer for having top quartile year-on-year improvement in its scores.

TCS’ strong position in the overall capital markets segment is attributed to consistent growth in its portfolio with multiple new wins. According to the report, the company has continuously worked on creating solutions backed with the latest technology to help its customers solve operational problems more efficiently. It mentions TCS BaNCS™ Cloud for Asset Servicing that automates the servicing of multiple asset classes across custodians, brokerages, asset managers, and investment banks. The report also highlighted a successful POC where TCS powered the world’s first cross-border securities settlement between two central depositories using Quartz™ Blockchain.

With growing competition in the capital markets segment, customer preference for digital channels, and increasingly complex regulations, financial institutions are banking on innovative use of technology to stay ahead,” said K Krithivasan, Business Group Head, Banking, Financial Services and Insurance, TCS“This recognition from an independent third-party research firm is a testament to our vision, capabilities, services offered, and market impact.”

TCS offers a comprehensive portfolio of services in the capital markets domain. Its customers include over 85 buy and sell side firms as well as market infrastructure firms and custodians. TCS’ in-depth domain solutions cover all functions and include:

  • Front Office: Research and analytics, channel management support, para planning for wealth management customers
  • Middle Office: Post trade processes including trade affirmation / confirmation, pricing and valuation, portfolio accounting and reconciliations
  • Back Office: Settlements, reconciliation and fails management accounting including fund accounting, fund administration, and transfer agency

Guided by its Business 4.0TM thought leadership framework and the Machine First™ Delivery Model (MFDM™), TCS has made steady investments and developed frameworks, point solutions and showcases. These include the wealth and retirement platform on TCS BaNCS, a wealth advisory solution, robo advisor and event fusion solution, conversational agents powered TCS’ proprietary tool Conversa™, interactive customer reporting, X code, and distributed ledger technologies for corporate actions, among other blockchain, robotic process automation, platform modernization-based frameworks.

In an environment shaped by changing user preferences and pressure from fintechs, it has become critical for financial institutions to connect their front- and back-office functions seamlessly,” said Manu Agarwal, Practice Director, BFS Business Process Services, Everest Group. “Supported by strong operational expertise and digital offerings, TCS enables its customers to deliver this superior experience.”

Our rich experience in capital market services, regulatory knowledge, innovative offerings backed by the latest digital technologies, and deep contextual knowledge places us in a strong position to deliver exponential value to our capital markets customers,” added Krithivasan. 

 

SOURCE Tata Consultancy Services

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Huobi Token (HT) Reaches New High Amid Increased Adoption and Ongoing Ecosystem Development

Vlad Poptamas

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Huobi Global today announced that Huobi Token (HT) has reached a new 12-month high amid the continued growth and development of the whole ecosystem. As of yesterday, HT was trading at a token price of $5.27 USD, a 92% increase since the close of 2019 – and nearly a 5X increase compared to this time last year.

As the native token of digital asset exchange Huobi Global, HT’s new milestone underscores the recent progress of Huobi’s global ecosystem. Last month, Huobi Global and Huobi DM experienced a strong start to 2020 with a 65% month-over-month spike in aggregate trading volume.

Huobi has also transitioned from quarterly to monthly token burns, which are based on a percentage of Huobi Global and Huobi DM’s revenues for each corresponding period. For Huobi’s first monthly burn, 4.057 million HT were repurchased and destroyed in January, which has a current market value of $21.4 million USD. A total of 45.838 million tokens have been burned to date.

“2020 is a pivotal year for Huobi as we enter new global markets and continue expanding our product line-up for both institutional and retail audiences,” said Ciara Sun, Vice President of Global Business at Huobi Group. “HT is a foundational part of the Huobi ecosystem, so we are deeply committed to its success.”

HT Product Roadmap

As part of a longer-term strategic roadmap for HT, Huobi has a number of upcoming initiatives planned that aims to further increase the token’s utility for the broader blockchain and crypto community.

Huobi DM’s new Perpetual Contract product, which is currently undergoing internal testing and nearing public launch, will be incorporated into the HT Token Burn Program. HT will also play an integral role in the ecosystem of Huobi Chain, a regulator-friendly financial blockchain that’s slated for testnet launch in the near future.

Additional features in development include HT margin trading with up to 2X leverage, which is expected to launch in March, and collateralized HT for peer-to-peer crypto lending and pledged loan contract assets.

HT Ecosystem Adoption

To further expand HT’s utility beyond the Huobi ecosystem, Huobi is accelerating efforts to integrate with third-party partners, including international credit cards, digital bank cards, blue-chip technology companies, and global entrepreneurship centers.

HT was recently accepted as a payment option for charitable donations to Project HOPE, a global nonprofit organization that has been providing health development and emergency relief since 1958. Last month, Huobi partnered with a leading crypto-friendly hotel booking platform to integrate HT as a preferred payment method on Travala.com.

 

SOURCE Huobi Group

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