RESRG

I am delighted to share this article, which I co-authored with Edward Brooks, Executive Director of The Oxford Character Project. Herein, we argue that many banking regulators globally have underappreciated the role of cultural context in their efforts to assess the individual character of industry executives. Over recent years, regulators across jurisdictions have increasingly focused on the character of financial executives as a means to change industry conduct. In so doing, a number of regulators have integrated character assessments into "fitness and probity" regimes — the means by which regulators certify that prospective executives are qualified for the role they are taking, and disqualify them if they are not. It is not clear exactly how regulators define "good” character, however. More notably, these regimes appear to contemplate character as both static and operating in isolation of cultural context. Regulators are unlikely to achieve anything meaningful for so long as they attempt to assess individual character absent appreciation for its dynamic nature and without regard for the cultural context that determines how character is likely to be expressed. A version of this piece was published by the FT's Banking Risk and Regulation last week: https://lnkd.in/g33z_-hH

The recently vetoed California AI Bill SB 1047 stirred the AI community and - lobbying and arguments aside – brought long-overdue policy discussions into the spotlight. In this blog post “A Path for Science‑ and Evidence‑based AI Policy,” the lead AI researchers and policymakers emphasize the importance of science- and evidence‑based AI policymaking and suggest prioritizing the following: - Better understanding of AI risks (investing resources into research on AI risk analysis will help inform decisions on important policy questions such as whether to release a model, how to release it, and what uses of AI should be permitted.) - Increasing transparency on AI design and development (specifically, the criteria used in policymaking to determine which entities and models are in scope e.g US AI EO and EU AIA using compute thresholds aka FLOPs; establishing a national registry for large AI models might improve transparency) - Developing early warning detection mechanisms (conducting both in-lab testing and real-world monitoring of AI misuse; establishing responsible reporting for frontier AI development to ensure that identified risks are communicated effectively among relevant authorities/stakeholders) - Developing technical mitigation and defense mechanisms for identified AI risks (establishing new approaches for building safe AI with the potential for greater safety assurance and developing defensive approaches or immune systems in society to reduce the potential negative impacts from misuse of AI technology) - Building trust by reducing fragmentation in the AI community (developing collaborative research initiatives that bring together diverse perspectives and establishing interdisciplinary research groups that include AI researchers, social scientists, legal scholars, domain experts, policymakers, and industry representatives) Hopefully, policymakers are paying attention and will give this blog post a read: https://lnkd.in/euHHSJBN

Andrew Gazdecki built his first app in college and sold it years after to a private equity for $20M 🚀 He realized everyone can build and sell a business. He then decided to build Acquire to help entrepreneurs sell their SaaS companies. I was luck to have a chat him at SaaStr, these are some of his tips for entrepreneurs: 1. From College App to $500M transactions:https://lnkd.in/eC5eDX4u 2. Acquisitions Channels: https://lnkd.in/eAH2iX7V 3. Content is taking over B2B: https://lnkd.in/eNCtu3Uv 4. Crazy content creation tip: https://lnkd.in/eTZX89Fj 5. How to Scale: https://lnkd.in/eKg7BGG2 6. How to buy and grow a profitable SaaS business: https://lnkd.in/eNUdFsWA 7. Who's buying companies under $5M enterprise value: https://lnkd.in/e7x-Vc48 Full interview: https://lnkd.in/edX3Uyqb -- If you found this valuable, please repost so it reaches more entrepreneurs!

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While there is optimism around the potential for #AI to enhance public services, the understanding and adoption of these technologies are at a relatively immature stage - Ada Lovelace Institute. The use of AI in the public sector must be carefully assessed to ensure it is fit for purpose and used with public legitimacy. 🔰 many different terms are used to measure societal benefit throughout the procurement guidance and legislation.  🔰 the guidance available to local authorities lacks specificity about how and where to operationalise these themes for societal benefit.  🔰 this is further complicated by a lack of clarity on the definitions of key terms, including ‘AI’. #artificialintelligence #generativeai #airisks #procurement #publicservices #publicsector #digitaldisruption #businessmodelinnovation #govtech Paidi O Reilly Prof. Dr. Ingrid Vasiliu-Feltes Martin Moeller Aaron Lax Richard Turrin Antonio Grasso Imtiaz Adam Irene Lyakovetsky🎧🎙 Dinis Guarda Ian Jones Dr. Martha Boeckenfeld Nicolas Babin Mike Flache Giuliano Liguori Dr. Marcell Vollmer Birgul COTELLI, Ph. D. Efi Pylarinou Bob Shami Sally Eaves Olivier Kenji Mathurin Franco Ronconi Zvonimir Filjak Patrick Maroney Avrohom Gottheil Dr. Khulood Almani🇸🇦 د.خلود المانع Dr. Monika Sonu Olivier LABORDE Amna Usman Chaudhry Eveline Ruehlin Orlando Francisco F. Reis Prof.Dominique J.E. Delporte - Vermeiren, PhD., Dr. h.c. Dr. Debashis Dutta Neville Gaunt 💡⚡️ Nafis Alam Lionel Costes Anthony Rochand Victor Yaromin Hope Frank Sergio Raguso #digitaltransformation

Is #FinTech dead or experiencing an #AI-driven new beginning? Funding has become challenging for #FinTechs while #AI & #GenAI investment rounds are ballooning. According to Cunchbase funding for AI-focused startups in the US jumped so much that it now accounts for 30% (just over $24 billion) of total VC funding in the first half of this year.   Andreessen Horowitz, however, does not see these as opposing trends, quite the opposite. Angela Strange & James da Costa see AI as the next evolution of FinTech:   ● The first wave of FinTech during the PC & Internet era took existing banking products and simply put them on a website, making them more accessible. Think LendingClub, PayPal or Betterment. ● The Cloud era brought the SaaS revolution as every layer of the FinTech stack became available “as a service” and FinTechs were integrated the in the banking value-chain enabling a wave of modernization and new offerings. ● The Mobile era then saw FinTechs capturing the customer interface as a beachhead and then capitalize on being in customers’ pockets as a16z put it. Putting banking at people’s finger tips with superior experience and unique features saw the rise Chime, Robinhood, Revolut and Wise for example. ● Now the AI era is introducing a new paradigm. #AIAgents are entering the workforce. This will turn everyone in banks from the most senior to most junior worker into AI managers as every white-collar job will be augmented with AI copilots and agents. There is no doubt that AI Agents are the future and that labour is becoming software as Angela and James so nicely put it. Research into agentic workflows shows the tremdenous potential of this and Andrew Ng's notes on this are a must read (https://lnkd.in/ebvH45iZ). There is also no doubt that this transformation has only just begun. For instance, Microsoft announced only a few weeks ago its #Copilot Wave 2, which includes custom AI Agents (https://lnkd.in/ehhyaf-m). And similarly OpenAI is expecting to see AI Agents become mainstream by 2025 (https://lnkd.in/eqxUCHwy), taking the company to Level 3 on its path towards Artificial General Intelligence (#AGI) (https://lnkd.in/e959Pqhs). The question is, will FinTech be driving or will it be driven? Will FinTechs manage the pivot to the new era or like software ate the world, will AI eat FinTechs (and other startup domains for that matter)? CC: Richard, Tony, Arjun Vir, Theodora, Dr. Martha, Prof. Dr. Ingrid, Dr. Debashis, Alvin, Efi, Sanjeev, Enrico, Aditya Ranjan, Dinis, Zvonimir, Matt, Alex, Conor, FRANKI, Noelle, Tarja, Pablo, Medo, Fabio, Kamales, Tyler, Dr. Marcell, Ravit, JOY, T. Scott., Ravi, Marc, Jess, Panagiotis, April #FinancialServices #DigitalTransformation #GenerativeAI #ArtificialIntelligence

𝗦𝗲𝗲𝗱 𝗩𝗮𝗹𝘂𝗮𝘁𝗶𝗼𝗻𝘀 𝗔𝗿𝗲𝗻’𝘁 𝗪𝗵𝗮𝘁 𝗧𝗵𝗲𝘆 𝗦𝗲𝗲𝗺 They don’t behave like traditional valuations 👇 • They’re too stable for such a speculative asset • They’re unaffected by shifting interest rates • They don’t follow public tech valuations It’s not clear what drives them, but they aren’t priced like typical businesses. Instead, seed valuations seem to reflect human capital—the founders and early team. Investors are betting on the people rather than just the business. What do you think? I recommend you check Nnamdi Iregbulem latest article about this topic if you want to dive deeper

Pitching to investors isn't just about numbers. Learn the 4 questions that reveal your true potential: 1. Introductory Questions →To understand your background and motivations. 2. Tactical Question → To delve into the specifics of your business strategy and operations. 3. Personal Questions → To evaluate the co-founder dynamics and the robustness of the team structure. 4. Use of Funds Questions → To understand how you will use the investment. And here’s a bonus piece of advice: After you’ve answered all the questions and left the room, all the VCs will be debating one critical aspect: → Are you ambitious enough? → Can you withstand whatever the market throws at you? They’re looking for signs that you're building something extraordinarily big. Something that can withstand market fluctuations and still achieve large outcomes. They call it "ambition alignment." It’s not just about your current vision, but whether your aspirations are big enough to promise the extraordinary returns VCs need. I've pitched. I've been grilled with these questions. And here's what I learned: the best answers come from a place of authenticity. It's not just about what you say but how you say it. Be real. Be you. Because at the end of the day, investors invest in people, not just ideas. PS. Check out my HOT 🔥 Newsletter for Founders to Raise Capital and Grow Revenues Here:- https://lnkd.in/ejecDs9Z #BrainDumps 🧠 💩 // Brain Dump #18

The Hong Kong Monetary Authority (HKMA), along with KPMG and Quinlan & Associates recently released a report that explores Generative AI in financial services. As per the report, the #generativeAI market is projected to grow by 42% annually, reaching $1.3 trillion by 2032. 🚀 Key highlights include: 🔹 #GenAI is reshaping operations, with 80% of financial institutions focusing on internal applications that boost efficiency, automate repetitive tasks, and reduce human error. 🔹 GenAI can enhance efficiency by streamlining  time consuming tasks like summarization, code generation, and report creation so these financial institutions can focus on #innovation and #strategy instead. 🔹 As financial institutions adopt #AI, regulators are keeping pace with a sharp focus on data privacy, algorithmic fairness, and #cybersecurity, ensuring the responsible and #ethical use of GenAI. The report is attached for further reading. #aiadoption #fintech #digitaltransformation #emergingtech #generativeAI #futureoffinance #techtrends2024 #generativeAI #responsibleAI #ethicalAI

𝗕𝗲𝗶𝗻𝗴 𝗮 𝗖𝗘𝗢 𝗶𝘀 𝗡𝗼𝘁 𝗙𝘂𝗻. 𝗜𝘁’𝘀 𝗡𝗲𝗰𝗲𝘀𝘀𝗮𝗿𝘆 A lot of people think building a company is exciting all the time. It’s not. As the CEO, you’re not dealing with what’s going right—you’re focused on what’s going wrong. The hardest, most painful problems land on your desk because no one else can handle them. You need a high pain threshold. 𝗜𝘁’𝘀 𝗻𝗼𝘁 𝗮𝗯𝗼𝘂𝘁 𝗱𝗼𝗶𝗻𝗴 𝘄𝗵𝗮𝘁 𝘆𝗼𝘂 𝘄𝗮𝗻𝘁, 𝗯𝘂𝘁 𝗱𝗼𝗶𝗻𝗴 𝘄𝗵𝗮𝘁 𝘁𝗵𝗲 𝗰𝗼𝗺𝗽𝗮𝗻𝘆 𝗻𝗲𝗲𝗱𝘀. Building a startup means staring into the abyss—if you fail to solve these problems, the company dies. It’s stressful, it’s hard, but it’s the only way forward. Do you have what it takes to solve the problems no one else can? Check my free newsletter for more insights: https://lnkd.in/dJPCHgtk