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.
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
A substitute for simpler. Cheaper line deliveries, which you being blocked by israel crisis in hate. See, will be live from the border as violence runs off in the capital for the prince. A gains consolidate control. Plus desperate parents demand on says in nigeria, as gunman could not close of 300. 00 schoolchildren. And on piece of statements with your sports, we bowed up to the big fight and re a is anthony, joshua goes to tow with fonts has gone new, out of 1st glimpse of all of the band and who will become the youngest f. One driver in history when he takes part into somebody already enrolling pre on set today. So the, so it is 1500. 00 us gmc, that is 5 pm in gauze where mass starvation is leaving. As israel intensifies the tax across the strip, hundreds of thousands of palestinians are in desperate need of humanitarian aid. But getting supply through has become increasingly difficult. With this river painted me blocking trucks and attacking palestinians waiting for aid. The un sa
Approvement act . And what other benefits are being experienced . Um as far as benefits of the Sandy Recovery reimprovement act is a very important tool and the other lesson that we have learned from is the events of katrina is that there are certain types of projects that are technically difficult that exceed the average capacity for people to manage and you need expert so we engage very early. And identify where the projects will be whether they are hospitals or other large public infrastructures. We brought in a lot of experts. It wasnt until you passed a Sandy Recovery improvement act that we had the resolution had we been using an old program and using actual costs, there would have been more uncertainty for the application cant on what they could and could not do. It would have been more overhead in making those decisions and they would not have had the ability to get what they were going to get from us and move forward. As it is we have obligated the majority of those funds. The
Off the coast of the northwest us the earthquake risk which is a very large risk command i think that we can show where we are going and tell you what we think is the path to get us there and then that will give you an opportunity to look at additional tools that you could give us. The stafford act was often times a constraint. In the past year we have responded to haiti which is traditionally the role of usaid. We were asked to support usaid command we did. We were asked to support unaccompanied children in detention facilities so we supported that. We were asked to support the ebola response. Many of these things may not be in the papers but our capabilities command you give us tools. The stafford the stafford act is limited to often times only those Natural Hazards with limited flexibility. I think the delegate brings up an important. What is the role of the Disaster Relief fund and the consequence world and if it is not in rebuilding in the Emergency Response cost and the ability t