2021 JUL 22 (NewsRx) — By a
“The federal government’s investment in CRAFT demonstrates the critical need for collaborative fintech research and policy initiatives to guide the industry in this high-tech transformation,” said Yang, who led the grant proposal from its inception. “Stevens’ location in
Together, Stevens and Rensselaer will bring together industry and academic partners, and policy makers involved in high-impact research efforts, to conduct research that is relevant for industry and has potential for commercialization. CRAFT is expected to receive approximately
Already, 18 financial services organizations, including global leaders of the industry, have pledged their support for CRAFT. As advanced technologies are rapidly shaping financial services and systems and impacting society at-large, commitment from industry partners and policy makers will help drive innovation in fintech, address the challenges impacting the finance industry and help develop a diverse, exceptionally skilled high-tech workforce.
“From its conceptualization and through more than two years of groundwork to build CRAFT, we have created a vibrant community of multi-disciplinary researchers and industry professionals enthusiastic to address a range of technology and innovation challenges facing the financial services sector,” said Gupta, who leads CRAFT at Rensselaer. “Rensselaer’s culture of highly inter-disciplinary research, innovative spirit and a rich technological research portfolio are the most attractive assets for CRAFT.”
Among the initial research areas of focus will be cybersecurity; high-frequency automated markets; technology risk and regulation; commercialization; and applications of blockchain, quantum computing, natural language processing, artificial intelligence and machine learning. Much of the work on the CRAFT research projects will be carried out by students at the participating universities, providing an essential training ground for the future fintech workforce.
The Hanlon Financial Systems Center, which includes two game-changing financial analytics labs, challenges students in Stevens’ fintech-related bachelor’s and master’s degree programs to apply fintech solutions to real-world business problems. This resource, paired with Rensselaer’s specialized master’s degree program in Quantitative Finance and Risk Analytics and other key fintech assets and programs, will be key to advancing the CRAFT agenda.
“This is a crucial opportunity for industry and academia to work together to define the most pressing challenges and find solutions that will have a real and lasting impact on the economy,” said
In the past few months, those disruptions include the short squeeze on
“From lowering costs and eliminating human error to greater regulatory compliance and improved security, AI will improve financial services in unimaginable ways,” said
(Our reports deliver fact-based news of research and discoveries from around the world.)