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Chatbots News Thursday, June 14

Banks Spend $1.7 Billion Each Year on Blockchain

  • Banking Industry Spends $1.7 Billion Each Year on Blockchain as Products Are Rolled Out – While the banking industry remains in strong opposition to the cryptocurrency market for a number of disruptive reasons, banks and other firms within the financial ecosystem have been exploring blockchain technology in the last few…
  • Greenwich Associates, amarket intelligence and advisory services provider based in Connecticut, U.S., has published a study that showed blockchain budgets increased 67% last year.
  • The firm conducted over 200 interviews with market participants for one of the most comprehensive studies on the topic to date, including those of blockchain budgets, team sizes, use case exploration, key challenges, and other issues.
  • The report concluded thatbanks and other firms have doubled blockchain initiatives in 2017, withtop-tier banks now having an average of 18 full-time employees working on it.
  • Cost reduction is the biggest driver of blockchain investment and development, surpassing motives such as revenue opportunities, settlement issues, and diminished risk and cost of capital, according to the study authored byRichard Johnson, vice president of Greenwich Associates Market Structure and Technology.

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Banks Spend $1.7 Billion Each Year on Blockchain

What’s Big in Chatbots in 2018 and Beyond

  • Noticeably Chatbots or bots are one of the most popular AI technologies and often referred to as the darling of media.
  • Chatbots have been the buzzword in the tech industry for the past few years and are anticipated to replace mobile apps.
  • From creating smarter business workflows to automating customer service to acting as an intelligent digital assistant for employees, AI chatbots have a ton of use cases in the B2B, B2C and B2E scenarios of the enterprise.

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What’s Big in Chatbots in 2018 and Beyond

The EU Wants to Hear Your Questions About Blockchain – CoinDesk

  • An organization established by the European Commission to focus on blockchain research and development is soliciting questions from the general public about the nascent technology.
  • The EU Blockchain Observatory and Forum announced through a tweet on Monday that it is hosting a 90-minute AMA (Ask me anything) session on June 18, to address any concerns from the public about blockchain and the organization’s future plan in the emerging space.
  • The session marks a notable move by the European Union’s executive arm to educate the public about the basics of blockchain technology and its real-life applications, according to the session’s agenda listed on the Observatory’s website.
  • The European Commission announced in April that it plans to invest around $400 million in blockchain related projects over the next two years, anticipating that the technology is going mainstream, as CoinDesk hasreported.
  • Earlier this year, Mario Draghi, head of the European Central Bank also hosted an online session where he addressed questions posted by the public through Facebook and Twitter that related to blockchain and cryptocurrency.

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The EU Wants to Hear Your Questions About Blockchain – CoinDesk