At any time and without objections, members not on the task force are allowed to participate consistent with the committees practice. And this is entitled robots and ai and the impact of Artificial Intelligence on the Financial Service industry. Thank you all for joining us for what is an interesting hearing of the task force. Today, we are looking at exploring how a. I. Is being deployed in the Capital Markets from automated trading to port follow allocation to Investment Management decisions. We are also going to consider how the use of this technology is changing the nature of work in Financial Services and rendering some jobs obsolete, and changing the skillset needed to service others. It is not an exaggeration today to say that wall street is quite literally run by computers and long gone are the days when the traders would be screaming on the floors of the new york stock exchange, and they would use t. I. Calculators and pour over the ticker tape to determine the companys value.
Next, financial analysts review the impact of Artificial Intelligence on Capital Markets. House Financial Services subcommittee examined ais impact on minorities. Cyber security measures, encouraging more young people to Study Technology and how the us can remainglobally competitive. The task force will come to order. Without objection the chair is authorized todeclare a recess at any time without objection. Members of the full committee not on this task force are authorized to participate in todays hearing. This hearing is entitled robust onwall street, the impact of ai on Capital Markets and jobs and the Financial Services industry. The chair will now recognize himself or five minutes or an Opening Statement area thank you all for joining us today for what should be avery interesting hearing of this task force. Today were looking at exploring how ai is being deployed at Capital Markets from automated trading to Portfolio Allocation to Investment Management decisions. Were going to co
The task force will now come to order. Without objection the chairs authors to declare recess of the committee at any time without objection. Members of the full committee not on this task force are authors to participate in todays hearing consistent with the committees practice. This hearing is in title robots on wall street the impact on iaa ai on the financial. First off thank you all for joining us today for what should be a very interesting hearing of this task force. Today we are looking at scoring how ai is being deployed in Capital Markets from trading to portfolio allocations to Investment Management decisions. We are also going to consider how the use of this technology is changing the nature of work in Financial Services rendering some jobs obsolete and changing the skill sets needed to excel in others. It would not be much of an exaggeration today to say that wall street quite literally is run by computers. Long gone are the days where traders would be screaming on the floo
Every year from around the world to our beautiful city. I want to tell you about another jewel of the San Francisco port that just celebrated 125 years. The San Francisco Ferry Building. [applause] in the 19th century, commuters and visitors traveled by train or ferry or both. A Ferry Terminal on the waterfront downtown was a practical necessity. It was the sfo of its day. Grand central station. But as we so often do, San Francisco built a practical space a world class beauty, with a 245 foot clock tower along arched arcade, and a interior worthy of a renaissance cathedral. At the foot of Market Street, a beautiful bridge from water to land, the Ferry Building announced to every commuter, every traveller, this is San Francisco. You have arrived. Until that is, [applause] until that is, in the late 1930s when two new bridges the bay and golden gate and rise of the automobile made the Ferry Building seem outdated and unwanted. Soon the grand interior converted to drab cuneals cubicles an
Every year from around the world to our beautiful city. I want to tell you about another jewel of the San Francisco port that just celebrated 125 years. The San Francisco Ferry Building. [applause] in the 19th century, commuters and visitors traveled by train or ferry or both. A Ferry Terminal on the waterfront downtown was a practical necessity. It was the sfo of its day. Grand central station. But as we so often do, San Francisco built a practical space a world class beauty, with a 245 foot clock tower along arched arcade, and a interior worthy of a renaissance cathedral. At the foot of Market Street, a beautiful bridge from water to land, the Ferry Building announced to every commuter, every traveller, this is San Francisco. You have arrived. Until that is, [applause] until that is, in the late 1930s when two new bridges the bay and golden gate and rise of the automobile made the Ferry Building seem outdated and unwanted. Soon the grand interior converted to drab cuneals cubicles an