Different from a nonprofit right candidate. Intovent even gotten statelevel versus federal level. We are live now for a discussion on Artificial Intelligence technology and competition from china. We will hear from the u. S. Chief technology officer, michael kratsios. Mr. Kratsios both the applications of Artificial Intelligence and quantum to ourtion sciences nondefense applications. Parallel effort of substantial scale in the department of defense through researchse advanced projects agency and other defense entities because these technologies are of universal application. I would like to take an opportunity to begin the discussion, to perhaps start with a bit of current news where europe has the European Union in particular, has tabled some of their ideas about how to manage some of the particularly the ethical issues related to Artificial Intelligence. Ofhave had quite a number years of tension on a transatlantic basis about the application of advanced commercial aso well as govern
The federal Aviation Administration to congress our Airline Customers and to the flying public for them they actually went on to say that these communications do not reflect the company we are and need to be and they are completely unacceptable now over the Simulator Training we know that this could be time consuming so mean this could be costly obviously however even after the crashes boeing said that they did not need the training is that the pilot did not need those training so it wasnt until just this week that they said that they would recommend the pilots and crews have these trainings thats a 3 hour training of course its costly of course its timely but as it is of course necessary to save lives and make ensure that the 737 max can be in good working order exactly like look what happened now without the training exactly so on another front the iranian crash of the boeing 737800 not that different plane than the 737 max that investigation is still open but iran did now release a
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