How Artificial Intelligence Will Save Our Water Supply

Water drop

More and more people are starting to recognize the importance of environmentalism and the effect humans are having on the planet. The importance of water conservation has started to come to the forefront of this environmental movement as our survival is heavily reliant on our ability to access freshwater reservoirs and the amount of consumable water is decreasing as the world’s (human) population continues to increase.

As scary as this sounds, it isn’t the death sentence it may at first appear to be. When it comes down to it humans are very resourceful and as we speak people are exploring ways to lessen our global footprint while still accessing the resources we need to survive.

Believe it or not, the technology that forms elements of FinTech may just be our best bet for the future of water. Artificial Intelligence (AI) is quickly becoming the choice route to take to protect and improve our freshwater access, saving both the collection and distribution of this natural resource, and startups are setting up the systems needed to put these tools into play.

Meet one of the potential saviors, Pluto AI , a startup determined to update our water asset management systems. The company’s platform uses analytics and AI to work with water facilities and better manage their day-to-day processes. Pluto AI clients can use the program to set up alerts and be notified when the system uncovers patterns in their data. Even better, Pluto manages the data using Deep Learning models and presents the information in charts and graphs, making the information easier for these decision makers to understand.

This AI system is a much needed system upgrade. The maintenance of these beverage plants requires an incredible amount of data from numerous sources and properly sorting and analyzing it is a huge undertaking (and inaccurate analyses could have devastating consequences). With an AI system like Pluto’s, the problematic areas of production (be it hardware, financial or human) will be uncovered and solutions can then be implemented before the damage spreads too far. If there is a pattern at play, Pluto AI will find it. This is good news for myriad reasons, as the problem-solving intelligence system will lead to an increase in safety and quality while also reducing costs. More quality freshwater and increased profits. What could be better?

AI, properly harnessed, has the potential to save the world. Its algorithms are being used to find the data we need to work out potential solutions and make needed changes to decrease our footprint and/or better use our available resources. This is incredibly important when it comes to water, as we need to find the best way to access and manage the freshwater supply. It is great to know that modern technology is working towards the solutions we need.

How FinTech Is Teaching Our Children Financial Literacy

How FinTech Is Teaching Our Children Financial LiteracyA common saying goes, “Give a man a fish and you will feed him for a day. Teach a man to fish and you will feed him for life.” The vital message there is the importance of education.

 

When it comes to finance, this truth stands. Of course money itself is important, but the ability to understand and manage money is much more valuable for children if you want them to become successful adults. But how do you ensure they learn these vital skills and improve their financial literacy?

 

 

Modern technology (namely FinTech) is now providing us with endless ways to introduce our children to the concept and value of money while still maintaining a safe amount of control.

 

Take Dojo for example. This (Canadian!) FinTech company aims to direct parents through the financial education process. On its (very active) social media accounts, Dojo offers videos and blogs to impart knowledge parents can pass on the youth, happily offering advice to help guide parents through this problematic and important education process. More importantly the Dojo system gives parents the opportunity to introduce financial skills to their children through a debit card and app system. By giving parents the chance to monitor their children’s spending habits, parents can see where the problems lie and what skills and tips they need to teach the next generation, or where the children are doing well (and should be congratulated or praised). Plus, the system allows for easy money transfers and an automatic allowance, making the process of giving your child money much easier (and safer). The company is cultivating partnerships with major banks like ATB Financial and Scotiabank and will no doubt find a happy customer base once they are set up in the market.

 

Financial skills are very important for a productive life and people of all ages can benefit from systems that help them learn. It makes sense that the financial system born from the mistakes of the past is seeking to ensure the next generation(s) don’t fall into the same traps. Already well versed in technology, the younger generations are likely to trust their money to FinTech companies and the fact that FinTech is doing its best to make finance simple and help keep us financially literate will only make the technology more appealing, leading us towards a financially intelligent generation. How great is that?

 

How FinTech Partnerships Are Bringing Nations Together

World Flags

FinTech is a global phenomenon. This is well known by this point. (Check out our e-book on the subject for more info.) In almost every corner of the world, people, businesses and countries are using the latest financial technology to refresh their economy and position themselves as powerhouses on the world stage. For startups wanting to reach a larger market, the blueprint set up by countries can serve as a great learning tool.

It can be incredibly hard to master the new world market by yourself. That’s not to say it’s impossible, but the risk of failing (and failing spectacularly) is quite high. The question then becomes: what can countries do to better increase their chance of success in the world market? If you wait until you’re fully prepared to handle the FinTech business on your own, you run the risk of missing the boat and therefore missing out on incredible financial opportunities.

There is an answer: Partnerships. By entering into a partnership with a stronger country (or company) the country (or startup) can be confident in its future while exploring development opportunities. These partnerships–or cooperation agreements–are becoming a real force on the world stage and so far 2017 is proving to be a year of partnerships.

Back in March 2017, the Monetary Authority of Singapore (MAS) partnered with Japan’s Financial Services Agency (FAS) and Abu Dhabi Global Market (ADGM). Thanks to this partnership, FinTech companies from these countries now have easier access to their partner

Then in May 2017, the U.K.’s Financial Conduct Authority (FCA) teamed up with Hong Kong’s Securities and Futures Commission (SFC) to create partnerships and foster innovations in both countries’ FinTech markets.

June 2017 was a big month for these partnerships. SFC entered another partnership, this time with the Australian Securities and Investments Commission (ASIC). Also, the Danish Financial Supervisory Authority (FSA) and (Singapore’s) MAS co-signed an agreement that will make it easier for financial innovators in these countries to work in (and with) the other’s marketplace.

This wave of partnerships will no doubt continue and this is a very good thing. These national partnerships mean these countries’ innovators are gaining valuable insight and perspective from entrepreneurs who see the world at a slightly different angle. This improved knowledge will help companies reinvigorate their businesses and turn FinTech into an even stronger global phenomenon. And that’s something we should all be thankful for.

How Regulation and FinTech Might Be Changing

Financial CHOICE ActIn 2012 the JOBS Act was passed by the U.S. Government to help startups and make investment crowdfunding easier. Now, five years later, the government is once again making strides to make the FinTech startup field easier to navigate.This is great news.

Currently making its way through the House, the Financial Creating Hope and Opportunity for Investors and Entrepreneurs (or CHOICE) Act, if adopted, could be another game-changer for FinTech startups. CHOICE The act aims to change the current financial regulation system, and these changes are beneficial for startups.

Very much a reaction to the 2008 financial crisis and the blowback to the bailouts, the act will seek to prevent the disaster from happening again — which is good news for the millions disgusted by the transference of wealth to companies that caused the crisis. However, that is not why the CHOICE Act deserves our attention.

The CHOICE Act aims to radically improve how small businesses operate and grow, creating an environment where FinTech startups will be able to thrive. As well, its intent to manage the financial regulation system to better protect consumers and entrepreneurs will create a better (FinTech fuelled) world for everyone.

That being said, the act is not popular with everyone. Many are worried that the decreased level of regulations will lead to the big banks (re)gaining a stranglehold on the market and the weakening of the Consumer Financial Protection Bureau is problematic.

The act is currently in the hands of the U.S. Senate and time will tell what changes they will impose before approving CHOICE.

FinTech is the future if we want the future to be better for everyone. It is excellent to see the U.S. government working to find a way to improve the financial system and make a better playing field for FinTech startups.