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jerryking : virtual_reality   13

Fidelity’s search for the technology of tomorrow
October 20, 2109 | Financial Times | by Robin Wigglesworth in Boston.

Buffeted by falling fees and rising costs, the asset manager is investing heavily in an effort to remain competitive...
Bolstered by 2.8 tn invested in their  mutual funds, Fidelity administers another $7.7tn on behalf of various clients, making it one of the biggest, broadest and most powerful financial groups in the world. ....The investment industry has come under intense pressure in recent years, buffeted by falling fees and rising costs.......Abigail Johnson is trying to reforge Fidelity for a new era, where technology permeates and reshapes every aspect of the company’s disparate businesses.......“Across all financial services, the trend is towards fee compression....Fidelity is dabbling in cryptocurrencies...  Ms Johnson is now spending about $3bn a year on tech to modernise every business line, from trading to retirement planning. “Financial services is becoming another winner-takes-all industry, so you need to spend a lot of money on tech to get the advantages of scale and play both offence and defence,”.... the question is whether an organisation as big, established and complex — and with a culture as ingrained as Fidelity’s — can evolve quickly enough to navigate the industry’s ferocious headwinds.......Fidelity is exploring whether virtual reality can make it more palatable to consumers via the Fidelity Center for Applied Technology. .....The technology centre is also where Fidelity’s initial bitcoin experiments took place, which last year evolved into a standalone company, Fidelity Digital Asset Services.....Ms Johnson has embraced the index funds once mocked by her father. Fidelity now has about $530bn in passive funds, making it one of the biggest providers.......Fidelity last year promoted Steve Neff, its chief technology officer, to lead its $2.8tn asset management division....... A lot of asset managers are spending a lot of money on computer scientists, and they don’t end up being used.” Upgrading Fidelity’s core tech infrastructure — which was largely developed in the 1980s — is time-consuming and expensive......Fidelity is using artificial intelligence to write more neutral job ads shorn of subconscious biases, to test the outcomes, and to better target job sites that might have more prospective hires from minorities.
Abigail_Johnson  artificial_intelligence  asset_management  blockchain  CEOs  Fidelity_Investments  financial_services  investment_management  legacy_tech  money_management  organizational_culture  the_great_game  virtual_reality  winner-take-all 
october 2019 by jerryking
What tech hasn’t learnt from science fiction
APRIL 3, 2019 | Financial Times | Elaine Moore.

Never mind the future: where are the books tackling Silicon Valley’s current challenges?

There is a myth that Silicon Valley is stuffed full of nerds who have never picked up a book in their lives. Like a lot of tales about the Valley, it is not true. The tech industry is acutely aware of the value of storytelling.......Whenever a tech founder is asked about their favourite novel it is usually worth paying attention. Uber founder Travis Kalanick’s admires Ayn Rand’s The Fountainhead.....Jeff Bezos’s is taken by the quiet despair of Kazuo Ishiguro’s Remains of the Day......and Theranos' Elizabeth Holme is attached to Moby-Dick.

It’s true that reading lists on the West Coast tend to skew towards science fiction.......For Silicon Valley, the genre seems to offer both inspiration and validation. .......But the connection between tech companies and sci-fi novels runs deeper. To make their futuristic projects reality, some seek the help of the authors themselves......Less is made of its focus on the downside of humanity interacting with a virtual world (jk: sci fi doesn't pay enough attention to the the downside of humanity interacting with a virtual world). .....The affection tech founders feel for sci-fi often seems to lack this dimension.....If founders are not paying too much attention to cautionary sci-fi themes, at least some people are. Amazon Go shops can feel like a vision of the future as you pick up milk and walk away, without scanning anything. But cities such as San Francisco have begun to wonder whether cashless shops will end up marginalising the country’s poorest citizens, who do not have access to online bank accounts......does any sci-fi novel offers a way to think about Silicon Valley’s present, as well as its future? The singularity and inter-planetary travel are well covered in literature..... are there book out there that address privacy scandals, electric scooters and $100bn IPOs?
++++++++++++++++++++++++++++++++++++++++++++++++++++
* Counting Heads' (2005) by David Marusek is a novel set in 2134.
* Mars trilogy by Kim Stanley Robinson.
* Idoru" by William Gibson.
* Count Zero" by William Gibson.
* "Black Mirror" TV series Charlie Brooker.
* The Circle by Dave Eggers.
* ‘Minority Report’ Phil K Dick.
* Cryptonomicon by Neal Stephenson
* Snow Crash by Neal Stephenson.

People who don't read science fiction (SF) are handicapped in today's world really, because usually they form part of the 99% of humans who are unable to look ahead more than a few months or so and see where society is going. ......Or the people that think Elon Musk is a visionary. He is not a visionary! He is just a smart person, which necessarily includes reading SF, and taking things from there. People who do not read SF think that Musk is the only person on the planet thinking about and developing our future society on Mars...  But there are millions - it's just that he is one of a few billionaires working concretely on it. For example, if you read the Mars trilogy by Kim Stanley Robinson, you'd realise that one of the reasons that Elon Musk now has a tunnel boring company is that we will NEED tunnels on Mars... You'd also realise that the TV rights of the trip to Mars will pay for (most of) the cost of the trip... etc. etc. etc.
Amazon_Go  augmented_reality  Ayn_Rand  authors  books  cautionary_tales  Elon_Musk  entrepreneur  fiction  founders  future  futurists  novels  pay_attention  reading_lists  San_Francisco  science_fiction  Silicon_Valley  start_ups  storytelling  virtual_reality  William_Gibson 
april 2019 by jerryking
JetBlue Airways Forms Technology Unit - WSJ
By SUSAN CAREY
Updated Feb. 11, 2016

JetBlue Airways Corp. is launching a subsidiary, JetBlue Technology Ventures, in Silicon Valley to find and help develop new technology ventures in the travel and hospitality sectors.... the initiative is focused on using technology in three areas: making passenger and employee experiences smoother, better using the massive amounts of data airlines acquire, and improving airline operations and logistics. She said potential technologies include geolocation, virtual reality, big data, connectivity and artificial intelligence....Robin Hayes, JetBlue’s chief executive, and Eash Sundaram, chief information officer, have been talking for a year about forming a subsidiary to look at innovation, while the airline’s board “has been thinking about how to expand the JetBlue brand.”
JetBlue  Silicon_Valley  airline_industry  travel  hospitality  massive_data_sets  innovation  corporate_investors  customer_experience  geolocation  virtual_reality  artificial_intelligence 
february 2016 by jerryking
Welcome to ‘StockCity,’ where virtual reality meets money - The Globe and Mail
MICHAEL LIEDTKE
SAN FRANCISCO — The Associated Press
Published Wednesday, Nov. 19 2014
virtual_reality  personal_finance 
november 2014 by jerryking
Virtual reality takes shoppers to another world | The Australian
October 19, 2006, The Australian, article by Alan Mitchell on how Procter & Gamble has stolen a march in the brands battle.
marketing  tools  innovation  market_research  virtual_reality  P&G  retailers  simulations 
march 2009 by jerryking

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