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In the week ending 03 November, 2017, reports said that artificial intelligence is transforming financial services across customer support, research and sales and trading. 75% of banks and financial services companies will be leveraging artificial intelligence in their businesses within the next 12 months. Almost 20% have already implemented AI technology, most commonly in research/report generation and customer support. The report also said that 15% of financial service jobs are at risk. Meanwhile, SoftBank CEO Masayoshi Son said that robots would have an IQ of 10,000 in 30 years.

In FinTech, CME Group said it would launch a futures contract for bitcoin, marking a major step in the digital currency's path toward legitimacy; prices of bitcoin surged after CME made the announcement. Analysts have predicted that the bitcoin futures could open the floodgates for institutional investors. The move by CME will up the game for the software-created asset and finally bring it some regulatory cover.

Alexis DuFresne of Whitney Partners highlighted bitcoin in a paper as the new frontier in asset management as more than 90 new cryptocurrency-oriented hedge funds have been launched so far in 2017.......................

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