Lee Bressler Explores Digital Trends Forecast to Disrupt The Financial Services Industry in 2019
New York-based portfolio manager Lee Bressler uncovers digital trends expected to impact the financial services industry going into and throughout 2019.
With the financial services sector among those most affected by the digital disruption in 2018, Lee Bressler believes he’s uncovered a number of digital trends set to further disrupt the industry in 2019. From so-called ‘open banking’ and data-driven marketing to ongoing cryptocurrency volatility, here Bressler uncovers five such forecasted trends.
“‘Open banking’ will make big waves in the coming year,” says Bressler, an equity fund portfolio manager based in New York City. So-called open banking rules require banks to allow customers to automatically share their financial data with other third-party providers as they wish. “This,” he adds,” has created an abundance of new opportunities for financial services industry startup companies to build and develop truly innovative experiences in order to win customers.”
“Customer experience, personalization, and marketing is driven by data will also be big news in 2019,” he reveals. “Emphasis will be placed on winning new customers, as well as retaining and expanding existing customer relationships, particularly in light of continued fierce competition in the industry,” adds the equity fund portfolio manager.
Another trend, says Bressler, will see established banks move to create their own, new, so-called ‘challenger brands.’
Lee Bressler Touches On Banking Changes from 2018 to 2019
“With many new ‘challenger’ banks appearing in 2018, moving into 2019, more and more existing, established banking brands can be expected to launch their own, new services, focused on mobile-only and so-called ‘open’ banking,” he explains. “The banking industry is rapidly evolving and, as such, even the most established banks must keep up by launching innovative, new approaches aimed at better serving their customers,” the portfolio manager adds.
Fourth among Lee Bressler’s forecasted trends, the financial services industry professional also suggests that banks and newer fintech startups will begin to build much closer relationships. “Given the creation of challenger brands and the need for open banking, the big banks must look to build close relationships with their newer fintech brethren,” he suggests. “This will also them to secure their market share with new generations of banking customers.”
Lastly, Bressler touches on cryptocurrencies. “By and large, cryptocurrencies failed to become the mainstream force which many expected in 2018,” he explains, suggesting that major price drops in currencies such as Ethereum and Bitcoin may be calling into question their viability in the long term. Cryptocurrency volatility, Bressler reveals, actually saw the number of merchant service providers accepting Bitcoin, for example, fall in 2018 compared to 2017.
“While the technology behind many of the big digital currencies remains incredibly important to the financial services industry, it could be that 2019 sees something of a crash for cryptocurrencies globally and across the board,” he adds, wrapping up.
Lee Bressler Discusses Primary Threats of Artificial Intelligence
As artificial intelligence and machine learning become ever more prevalent, it’s increasingly important that people are suitably aware of the current limitations of such technology and understand the threats it poses, according to New York City-based equity fund portfolio manager Lee Bressler.
“Artificial intelligence,” says Lee Bressler, “still has a number of fundamental limitations.”
Lee Bressler explains that, even as the technology continues to evolve and improve, there will always remain a need for supplementary human intelligence. “While a robotic device might be able to perform any number of different tasks, the question remains, ‘What happens when a discrepancy occurs or a fundamental change is required in the device’s immediate environment?'” says the financial sector professional. “Quite simply,” he continues, “a robot or similar device or piece of equipment just cannot be inherently smart enough to tackle an eventuality for which it was never specifically trained or intended to undertake.”
Furthermore, the equity fund portfolio manager suggests that leaving any critical or otherwise highly important task entirely up to a robotic device can conceivably lead to catastrophe, if not potentially dire or otherwise unintended circumstances.
“History demonstrates that there will always be a requirement for human workers,” says Lee Bressler, pointing, as an example, to the rise of ATMs first installed over five decades ago. “With over 400,000 ATMs currently installed in the U.S., it would not be unreasonable to think that the number of human tellers might’ve dropped as a result,” he explains, “yet according to analysis by the International Monetary Fund, the number of tellers in the country has actually increased during the same period, rather than declining.”
Equity fund portfolio manager Lee Bressler uncovers limitations and threats of ever-evolving artificial intelligence and machine learning technologies.
However, according to Lee Bressler, the primary threat posed by artificial intelligence pertains not merely to its limitations, but more critically to the technology’s decision making processes.
“There will come a time when it’s necessary to let artificial intelligence take the lead, rather than simply assisting or supporting existing human tasks, roles, or other functions,” he suggests. “When we rely on artificial intelligence to make a choice, we run the risk of the technology making a poor decision, wherein which lies the biggest threat of all, and in itself, another limitation,” adds the New Yorker.
Even the smartest of artificial intelligence solutions will, he says, always require at least some degree of human oversight. “Accordingly,” Lee Bressler adds, wrapping up, “while people continue to panic about artificial intelligence replacing human workers, the technology is, in fact, more likely to spawn additional new roles whereby teams are made responsible for the technology and its algorithms, and making sure that they’re doing what they’re supposed to at all times.”
Lee Bressler Explains How AI is Helping Both Businesses and Their Employees
With groundbreaking advances now being made in artificial intelligence on an almost daily basis, the technology should be embraced by employers and employees alike, rather than feared as a replacement for skilled workers, according to New York City equity fund portfolio manager Lee Bressler. The finance professional’s view is supported by a PricewaterhouseCoopers study conducted earlier this year which suggested that fewer than three percent of either skilled or unskilled jobs would be at any risk of potential automation by the year 2020.
“For years there’s been a level of uncertainty surrounding whether or not artificial intelligence could one day replace human workforces,” New York-based Bressler suggests. However, while artificial intelligence—particularly when paired with machine learning technology—may today be entirely capable of completing a great number of tasks more efficiently and with greater accuracy than a human, the technology currently exists solely to support—not replace—workers, according to Bressler.
The equity fund portfolio manager provides an example from within the legal sector. “Artificial intelligence-powered computers and systems are able to process many hundreds of scanned legal documents within seconds, retrieving data which may be required by a lawyer,” he explains. “Does this mean an end to lawyers? No way,” says Bressler.
New York City’s Lee Bressler uncovers the benefits of artificial intelligence for both employers and workers as advances within the field continue.
The New Yorker continues, “Artificially intelligent machine learning algorithms are quite able to automate many of the processes required as part of a legal document review, but they cannot—and will not—replace the lawyer. Instead, they are simply making him or her much, much more productive.”
The benefits are clear and visible across the board, says Bressler, from multinational corporations and large workforces down to small businesses and entrepreneur-led enterprises. “Ultimately, artificial intelligence is making people more productive,” he explains, “by removing labor-intensive, repetitive tasks from workers’ responsibilities.”
“It is not, however,” he continues, “replacing them, nor is that something we’re likely to see happen any time soon. Accordingly, it’s fantastic to see individuals across almost all industries beginning to understand and accept that fact, and starting to embrace artificial intelligence rather than simply fearing it.”
“I hope,” adds Lee Bressler, wrapping up, “that ai revolution will continue to be lauded by employers and employees alike as advances within the field continue, to the betterment of all involved.”
Lee Bressler Explores This Year’s Biggest Advances in Artificial Intelligence
As what was once considered science fiction has today largely become a reality, New York City equity fund portfolio manager Lee Bressler explores several of this year’s most significant advances in artificial intelligence and surrounding technologies as he uncovers substantial new developments in accessibility, public perception, and innovation from East Asia.
“The increasingly accessible nature of artificial intelligence technology has been big news this year,” says Bressler.
Solely the preserve of massive technology companies such as Microsoft and Google just a few years ago, things today are very different. “Not only is it now entirely feasible for almost any company to capitalize on artificial intelligence,” Bressler points out, “but it’s becoming more and more available to us in our home lives, on an individual and family level.”
“That’s a massive leap forward by any measure,” adds the equity fund portfolio manager.
Second, among Bressler’s noteworthy advancements in artificial intelligence, this year is China’s staggering innovation in the field. “Chinese technology has long taken the lead from successes in the western world,” he says, “but now, it’s beginning to lead the way, with China proving revolutionary in fields including artificial intelligence and machine learning, for example.”
New York-based portfolio manager Lee Bressler explores the ongoing explosion of artificial intelligence and associated technologies.
He continues, “While the U.S. is currently leading the artificial intelligence field, the Chinese technology industry is poised to overtake at any time, with more investment into artificial intelligence now coming from China than anywhere else in the world.”
Lastly, Bressler points toward a change in public perception surrounding artificial intelligence. “For years, people speculated and worried that artificial intelligence would one day cost them their jobs,” he explains.
However, says Bressler, at least for now, this is just not the case, and people are beginning to recognize that. “Artificial intelligence is allowing for the automation of repetitive and routine tasks, but is not taking existing job roles away from the people who currently fill them,” reveals the New York-based finance professional.
While artificial intelligence and machine learning technologies can today complete many tasks more efficiently and with better accuracy than a human, this is merely affording more time for workers and workforces in almost all industries to instead focus on often much more valuable tasks which require a personal touch, according to Bressler.
Right now, he says, artificial intelligence is making workers more productive by removing labor-intensive, repetitive tasks from their workloads. “It is not, however, replacing them, nor is that something we’re likely to see happen any time soon, and it’s great to see people beginning to understand and accept that fact, and embracing artificial intelligence rather than fearing it,” adds Bressler, wrapping up.
Lee Bressler Delves into the Deep Learning and A.I. Revolution
Equity fund portfolio manager Lee Bressler explores deep learning technology and how hardware-accelerated computing is influencing industries and processes across the board.
Deep learning and artificial intelligence are forecast to transform the fortunes of businesses and organizations across almost all sectors and industries, according to Lee Bressler, an equity fund portfolio manager. The true power of machine learning and AI can only be entirely realized once the complete surrounding ecosystem is fully grasped.
“Immensely powerful computers and servers require low-latency connectivity and fast storage,” Lee Bressler explains, adding that it’s possible to enhance deep learning frameworks by implementing software capable of automating data science tasks, for example. The basic idea of machine learning, he says, is to effectively train a multi-layered neural network — a computer system that is modeled on the human brain and associated nervous system.
“Studies have shown,” Lee Bressler reveals, “that neural networks can reproduce essentially any function imaginable, although the ability to accurately configure them remains fundamental in this instance.”
What’s called for is the power to solve a myriad of small problems in a massive number of equally small steps, as opposed to attempting to achieve the same result via a lesser number of much larger steps, according to Lee Bressler.
“By employing this method, we are able to train neural networks to complete and solve tasks that were previously impossible,” he adds, “although, from a computational standpoint, this can remain expensive.” Costs are beginning to come down as new solutions surrounding parallel programming are being developed, the portfolio manager explains.
“Computers now are faster and more powerful than ever before,” he continues, “and today, the required data sets are large enough to achieve what would’ve been practically impossible just a few years ago.”
Via the implementation of convolutional neural networks, wherein each artificial neuron is carefully and precisely layered, new advances in machine learning are continually being made. “Sub-sampling and pooling layers are being exercised in order to facilitate the current deep learning and AI revolution,” points out Lee Bressler, which—he says—is actively countering previously seen poor performance surrounding machine learning technology.
“Deep learning and artificial intelligence both have an increasing relevance across almost every imaginable industry sector,” Lee Bressler adds, wrapping up, “as we continue to see the technology advance, offering ever-faster results and far greater depth of insight from the data we’re providing.”
Immediate Future of Artificial Intelligence with Lee Bressler
New York’s Lee Bressler explores predictions being made around the next five years of advancements within AI technology.
Recent artificial intelligence technology breakthroughs paired with advancements in application program interfaces and continued widespread adoption of cloud computing architectures are set to drive AI further and further forward over the coming years, according to New York-based Lee Bressler.
An equity fund portfolio manager from New York City, Bressler explores a series of predictions made by S&P 500 global research and advisory firm Gartner, Inc. surrounding the next five years of artificial intelligence innovation and implementation. “According to Gartner’s predictions, 20 percent of individuals in developed countries will be routinely using AI assistants such as Google Assistant, HomePod by Apple, or Amazon’s Alexa to help them with day to day, operational tasks within two years,” says Bressler.
Elsewhere, and in more business-focused applications and environments, AI will become increasingly transparent based on the Gartner predictions, according to Bressler. “Enterprise projects utilizing AI will need to become 100 percent transparent within the next five years if they’re to guarantee to fund if the predictions from Gartner are to be believed,” he adds.
Bressler continues, “it’s also suggested that as many as 40% of employees, including government workers, will be regularly and routinely consulting artificial intelligence powered support on a daily basis within the same timeframe.”
Gartner, however, is also quick to suggest that artificial intelligence will generate many more jobs than it destroys, according to Bressler. “They predict that it will become what they call a ‘positive net job motivator,'” he explains, “creating an estimated 2.3 million jobs while only eliminating 1.8 million roles in the immediate future.”
The Gartner study further goes on to claim that as many as one in five employees engaged in predominantly nonroutine tasks will also come to rely on AI to successfully undertake their work within five years. “Along the same lines,” adds Bressler, “artificial intelligence will generate almost $3 trillion in business value while recovering upwards of 6.2 billion hours of worker productivity within the same five year period.”
The last of the predictions focused on by portfolio manager Lee Bressler, he turns to multichannel retailers, saying, “Gartner suggests that efforts to cut sales associates in favor of artificial intelligence replacements will fail, meaning that sales professionals should remain safe from AI disruption.”
“At the same time, however,” he adds, wrapping up, “it looks likely that operational and cashier jobs could be disrupted between now and the year 2022, according to Gartner.”
Lee Bressler Explores Two Promising Tech Stocks 2018
Both slated for long-term growth potential by experts, graphics chip specialist NVIDIA, and e-commerce and cloud computing services behemoth Amazon currently represent two of today’s ‘best in class’ long-term technology industry stocks, according to Lee Bressler.
An equity portfolio manager, Bressler, and others in the industry are pointing firmly toward NVIDIA and Amazon, with portfolio manager Bressler referring to the pair as what he calls ‘best in class’ stocks, each with excellent long-term growth potential.
“In the last financial year, NVIDIA’s data center revenue soared by in excess of 130 percent,” he explains, “thanks in no small part to the continued, now-widespread adoption of cloud computing in almost every industry worldwide.”
Bressler further reveals that the company’s bread and butter business—the graphics chip specialist’s gaming revenue—also climbed an impressive 36 percent in fiscal 2018.
Lee Bressler Looks to Graphics Chip & E-commerce Industry
NVIDIA is doubly interesting to Bressler as the equity fund portfolio manager. Maintaining a keen focus on artificial intelligence and machine learning technology. “Two of the graphics chip specialist and data center giant’s fastest growing platforms involve professional visualization and automotive industry technology, the latter of which is based around artificial intelligence-powered self-driving vehicle solutions,” he adds.
After NVIDIA, Bressler turns to an online retailer and cloud computing services behemoth Amazon. Bressler suggests a massive opportunity for further growth in this sector.
Bressler points out that while e-commerce contributes much of the company’s revenue. Graphics-chip specialist NVIDIA, its current profit engine can be found in its cloud computing services arm. Known as ‘Amazon Web Services,’ sales soared by just shy of 50%. Exceeding $6 billion in the second quarter of 2018. “This,” says Bressler, “accounted for 12% of the company’s total revenue during the same period.”
Indeed, Amazon today commands upwards of a third of the entire global cloud services sector.
Highlighting other recent and potential future successes within Jeff Bezos’ Amazon empire. Bressler reveals that big plans are afoot for the retailer having recently acquired Whole Foods. “Through its acquisition of Whole Foods and by teaming up with Berkshire Hathaway and JPMorgan Chase.”
Lee Bressler Discusses the History of Machine Learning Technology
Lee Bressler is a technological guru with years of experience and expertise in the field. Today’s machine learning technology allows computers to communicate readily with humans, diagnose serious medical conditions, and autonomously drive cars and trucks, among countless other applications says Lee Bressler, an investor and technologist from New York with a focus on artificial intelligence and machine learning technology.
While these advances are, for the most part, at the forefront of modern technology, machine learning has its roots in the 1950s, and—by some definitions—many, many years before that.
Bressler goes on to explain that, in 1952, another machine learning pioneer, Arthur Samuel, developed the first-ever computer learning program. Studying the game of checkers, it successfully improved its strategy—without outside interference—by repeatedly playing and analyzing which moves provided the best chance of winning, before incorporating them into its program.
“The first neural network for computers came five years later,” Bressler further reveals, “designed by Frank Rosenblatt to simulate the thought processes of the human brain.”
Lee Bressler Explains How Computers Reset Ever 12-18 Months
The 1960s, 1970s, and 1980s saw continued advances in machine learning. “Over the course of the three decades, pattern recognition and map routing algorithms were developed. This allowed robotic devices to be capable of navigating obstacles,” Lee Bressler explains. The same period also saw the first examples of explanation-based learning – a form of machine learning capable of exploiting domain theory in order to form concepts from training examples.
Machine learning in the 1990s switched from knowledge-driven to data-driven. This included algorithms designed to analyze vast quantities of data before drawing conclusions. Additionally, it started learning from the results and processing the data. “1997 saw another huge leap forward for machine learning. This is when IBM’s ‘Deep Blue’ chess-playing computer successfully beat the then-world champion at the game,” adds Bressler.
21 years since Geoffrey Hinton coined the term ‘deep learning‘. Wherein which computers are able to ‘see’ rather than simply processing data. Along the same lines, Microsoft developed never-before-seen motion tracking software. This was capable of reading and reacting to human movement and gestures, back in 2010. Meanwhile, in 2011, another IBM creation named ‘Watson’ successfully beat a team of human competitors at Jeopardy. Further demonstrating the possibilities afforded by machine learning technology.
Microsoft has led the way since, developing deep neural networks and sophisticated artificial intelligence technology. “In the last year or two alone, we’ve seen huge further advances. In 2016 when Google’s AlphaGo A.I. algorithm successfully beat a professional player. This was considered the world’s most complex board game. ‘Go,'” adds Lee Bressler, in closing, “I cannot wait to see what future machines are like.”
Lee A Bressler | Financial Services Industry Technology
Lee A Bressler – From blockchain to big data initiatives, financial services industry technology is evolving at lightning pace.
Looking at recent, current, and anticipated developments in financial services industry technology, investor Lee A Bressler explores artificial intelligence, blockchain, big data, risk management, ‘design thinking,’ and the cloud as he delves into what’s happening, right now, and what the industry and those involved can expect going forward.
Lee A Bresslerstarts where it might be expected – with artificial intelligence and blockchain. “AI and blockchain are already disrupting the financial services industry,” he explains. “As AI moves forward, it’s likely that focus will center around cognitive use, both in investments and wealth management, but also in sales, marketing, and compliance.”
Quantifiable Growth with Lee A Bressler
This, says Lee A Bressler, will involve a massive step forward in moving from predictive analytics to quantifiable growth via cognitive computing. Executed alongside ever-evolving blockchain technologies, the equity fund portfolio manager anticipates extensive continued growth in both of these areas.
Next, Lee A Bressler points toward big data. “Big data is only going to get bigger,” he suggests. By pushing ever more sophisticated and open business models, big data initiatives are also supporting data visualization and associated tools which are better than ever before.”
“Many of those in the financial services industry,” he continues, “are today still using technology which is growing more and more outdated, relying on legacy infrastructure and data architecture.”
Advances in big data, Lee A Bressler says, will change all of this. “Data standardization efforts have already begun. Therefore, with the extraction of additional value from data being chief among the driving forces currently,” he adds.
Risk Management Explained.
Two others areas touched on by Lee A Bressler include risk management and ‘design thinking.’
“Real-time risk management performed with AI, completed under regulatory parameters can be huge”. Of ‘design thinking,’ he adds, “combining creative engineering with so-called ‘design thinking’. This is another area primed for growth within the financial services industry, especially in terms of UX and UI.”
In conclusion, Lee A Bressler looks to the cloud. Already years in the making, it’s Lee A Bressler’s belief that cloud computing usage will increase. Cloud-based computing is generating the momentum that will last for years to come. “Many banking and financial services industry applications begin moving into the cloud.