Although most famous for its investment banking business, Goldman Sachs has been looking to diversify its clientele for years. One of their forays into consumer banking is Marcus, an online loan and deposit platform catering to the middle class. Although overshadowed by their investment banking successes, Marcus has performed well for Goldman; it boasts 10 million customers and over 100 billion USD in deposits, despite a small marketing budget. They’re now planning to become their customers’ primary bank by launching digital checking accounts this year. Read full article here
Societal Issues
AI Predicts Crime A Week In Advance With 90 Per Cent Accuracy
An artificial intelligence model built by Ishanu Chattopadhyay and his colleagues analysed crime data in Chicago from 2014 to 2016 and managed to predict future levels of crime down to the nearest 300 metres, a week before they actually happened. While extremely useful, this artificial intelligence has been shown to expose racial prejudice in law enforcement. Hopefully, as the study’s data and methodology have been made available for others to evaluate, these prejudices can be avoided in the next iteration. Read full article here
Merv
August 15, 2022
