24 March 2017
Visit EBAday.com

Machine intelligence to transform industry - Nasdaq chief

31 January 2017  |  15182 views  |  0 Nasdaq time square New york 1

Machine intelligence, not blockchain or cloud technology, will have the biggest impact on the exchange industry, predicts new Nasdaq CEO Adena Friedman.

Speaking at a Goldman Sachs event, Friedman said that the cloud is going "to change a lot of how we manage our infrastructure," while blockchain "has a huge ability to change the way settlement occurs and the transfer of ownership".

"But if I were to pick the one technology that I think will change the industry the most, it’s definitely machine intelligence."

Friedman thinks that "machine intelligence, and how that deep learning, natural language processing and areas of intelligence will allow firms to become more sophisticated in their strategies, and will also allow risk managers to become much more sophisticated in monitoring activity as well".

Nasdaq is already looking to tap into the technology. In November it launched Nasdaq Trading Insights, a product suite combining proprietary data with advanced analytics and machine learning to provide insights for US listed stocks.

The initial rollout includes three offerings designed to help traders better understand how they perform in the market, how the market behaves, and how they can adjust their strategies to be more successful.

In the more distant future, Friedman sees another potential gamechanger: quantum computing, "which I think is something that is really on the horizon that could fundamentally change, frankly, all of these other areas because the ability to be more sophisticated in your interactions with markets becomes exponentially more interesting".

Friedman's comments come as Nasdaq reports a $224 million fourth quarter loss, largely due to a $578 million write-down incurred on eSpeed and the winding up of its loss-making NLX interest rate futures business.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

BNP Paribas takes stake in AI-based compliance startup

BNP Paribas takes stake in AI-based compliance startup

30 January 2017  |  8896 views  |  0 comments | 16 tweets | 16 linkedin
Nasdaq hails Estonian blockchain pilot for proxy voting

Nasdaq hails Estonian blockchain pilot for proxy voting

24 January 2017  |  5860 views  |  0 comments | 13 tweets | 7 linkedin
RBC hires AI pioneer as advisor to new machine learning lab

RBC hires AI pioneer as advisor to new machine learning lab

19 January 2017  |  6135 views  |  0 comments | 10 tweets | 9 linkedin
SEB invests in machine learning outfit Now Interact

SEB invests in machine learning outfit Now Interact

16 November 2016  |  3806 views  |  0 comments | 6 tweets | 5 linkedin
Banking in the age of AI

Banking in the age of AI

10 October 2016  |  13238 views  |  1 comments | 48 tweets | 30 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Participate in the surveyvisit abe-eba.euVisit capgemini.com

Who is commenting?

Top topics

Most viewed Most shared
Bank of England sets up fintech Community; runs blockchain and AI trialsBank of England sets up fintech Community;...
16568 views comments | 33 tweets | 26 linkedin
French retailer Carrefour launches online bank accountFrench retailer Carrefour launches online...
13639 views comments | 15 tweets | 33 linkedin
hands typing furiouslyMachine Learning: Lessons for Banks From S...
10244 views 0 | 12 tweets | 11 linkedin
Can banks really win in the payments business of the future? – new Finextra reportCan banks really win in the payments busin...
7783 views comments | 23 tweets | 36 linkedin
satellite26 Japanese banks register for Exchange-ru...
7561 views comments | 2 tweets | 1 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job