Why AI Matters in LIBOR Transition
On July 27, 2017, the UK’s Financial Conduct Authority announced that the London Interbank Offered Rate (LIBOR), one of the world's most widely used interest rate benchmarks, will be phased out by the end of 2021. While officially a UK protocol, LIBOR is used as a reference rate by financial institutions around the world, including the United States, and its impending demise has generated calls to action across the global banking and finance industry.
Why Process is Such a Big Problem
A recent survey commissioned by ABBYY asked decision makers across multiple industries – Financial Services, Insurance, Government, for example – how consistently they believed workers followed processes. As one would expect with any survey, results varied by industry, with Financial Services and Insurance scoring pretty high, but most surprising was the comparatively lower scores Government decision makers (leaders) gave their organizations.
How AI is Poised to Transform the Practice of Law
Thomson Reuters the world's leading source of intelligent information for businesses and professionals made the observation that “within the next few years, we will find ourselves on the cusp of a revolution in the practice of law led by the adoption of artificial intelligence”. The data confirms this trend. Investment into legal technology, particularly AI, has hit a record $1 billion in 2018, up from $ 233 million in 2017.
Why Law Firms Need an All-in-One PDF Solution
Until recently, reviewing piles of legal documents is one of the pain points of law firms. However, with the creation of the Portable Document Format (PDF) by Adobe Systems in 1993, the legal profession acquired a cross-platform solution capable of preserving both paper-based and electronic records in a consistent format, ideal for reviewing, exchanging and archiving of legal documents, contracts, and client attorney correspondence.
The Tension between GDPR and Blockchain
A potentially problematic challenge for industry and legislators is the apparent tension between privacy rights and the rapid adoption of blockchain-based applications which are expected to reach $10.6 billion in revenue by 2023. There is a school of thought that blockchain is antithetical to and incompatible with safeguarding privacy rights.