Snippings

xxx

However, she also fears that less affluent consumers stand to be priced out of traditional face-to-face advice in the wake of the regulatory focus on St James’s Place and other wealth managers. “As scrutiny of the advice sector increases, risk appetite will diminish, and I think we’ll see the minimum levels for many advice firms rise to over £100,000 of assets per client, which will push the advice gap even higher.”

As things stand, an estimated 12.4mn UK adults have money to invest but cannot afford or do not want traditional financial advice. Could AI-powered insights help them bridge this gap in an affordable and more accessible way?

For starters, AI could nudge us into starting investing at an earlier stage; there are already plenty of Open Banking apps that can use our financial data to prompt better decision making and goal setting.

From: Could AI make you a better investor?.

xxx

xxx

And in a 2023 survey of 2,000 American travelers, 38% of Gen Z and millennial respondents said they preferred a traditional travel agent over online booking.

From: Travel Agents Are Back. and Gen Z, Millennials Love Them. – Business Insider.

xxx

xxx

Wallets on the rise: With the increasing adoption of user-held digital identity data such as Mobile Drivers’ License (mDL), and active progress on citizen-scale digital identity projects in Europe, Australia, and several others, it’s no surprise that we’re seeing more interest in supporting technologies such as verifiable credentials and digital wallets. The majority of proposals received, however, are still relatively theoretical in nature: large-scale deployments are still some way off, and for every proposal exploring the potential benefits of wallet approaches, there is another one discussing challenges to navigate and risks to mitigate. The impact both on existing systems and processes will be significant; but with the levels of interest and investment across the industry is high and the tangible progress at national scale in several regions around the world, it’s clear that practitioners need to start considering how to adapt to these new constructs.

From: 2024 Identiverse trends report: Key findings | SC Media.

xxx

xxx

Between 5 December 2023 and 13 May 2024, Santander prevented 1,899 customers from proceeding with their Facebook Marketplace purchase, after customers admitted to not having seen the item in person that they were attempting to buy.

However, 7,950 customers were initially prevented from making a payment, but then subsequently confirmed that they had seen the item in person, meaning the payment was made. Of this group, 240 customers then went on to report that they had fallen victim to a purchase scam.

Changing your answer

During this period, 439 people in total fell victim to a scam on Facebook Marketplace, losing a total of £284,000, an average of £647 per person. Of the 439 customers who fell victim to a scam, 263 were customers who changed their answer.

From: Clamping down on Facebook Marketplace scams.

xxx

xxx

Elon Musk diverted $500 million worth of AI processors meant for the carmaker, according to correspondence from Nvidia employees obtained by CNBC.

Instead, he sent them to his social media platform X, the report, which was published Tuesday, said.

From: Elon Musk Sent $500 Million of Nvidia Chips Intended for Tesla to X – Business Insider.

xxx

xxx

humanoid robots were ideal for roles that require interacting with the public, such as in museums, tourist attractions, school settings and ‘companion scenarios’.

From: Inside China’s terrifying humanoid robot factory with piles of eerie silicone masks and body parts as scientists develop life-like machines ‘with emotions’ to replace workers | Daily Mail Online.

xxx

I am not sure exactly what “companion scenarios” might be given another more recent story about 

xxx

ROBOT ROMANCE REVEALED: Women will be having more sex with ROBOTS than men by 2025
That’s according to a professional, who also thinks robot sex will be more common than human intercourse by 2050

From: REVEALED: Women will be having more sex with ROBOTS than men by 2025 – The Sun | The Sun.

xxx

xxx

Apple has unveiled a Tap to Cash feature that lets people send each other money simply by tapping their iPhones.

From: Apple launches Tap to Cash.

xxx

2010

xxx

There are more than a few apps that leverage the iPhone’s accelerometer this way, including the appropriately-named “Bump,” the billionth app downloaded from the iTunes store.

From: PayPal Fist Bumps Square | WIRED.

xxx

2012

xxx

Bump, the popular contact sharing app developer, today releases a new standalone iOS app called Bump Pay that lets you transfer money via PayPal to anyone in arm’s reach.

From: Bump Pay Lets You PayPal Someone With A Tap, But Only In-Person | TechCrunch.

xxx

xxx

Even more challenging is verifying the age of younger kids, as many children typically do not have established bank accounts, credit or government-issued IDs to confirm their identity. Additionally, while there are no outright bans on collecting biometric data from children, the framework of privacy laws and regulations creates a highly complex environment for businesses. These laws require companies to navigate through numerous strict conditions and compliance measures if they choose to use biometric methods for age verification.
Another challenge recently cited by Gartner includes online platforms requiring parental consent, as many vendors that provide identity and access management solutions do not have fully formed functions to obtain parental consent. Faced with these verification complexities, it’s clear that both legislative and technological advancements are essential in protecting our minors.

From: Protecting minors and businesses – age verification for online safety | Biometric Update.

xxx

xxx

Lowe’s is preparing to bring its Apple Vision Pro-powered kitchen design experience to its brick-and-mortar stores.

Initially launched in February for the Apple Vision Pro, which is the tech company’s mixed-reality headset, the Lowe’s Style Studio app lets viewers explore kitchen projects and design a kitchen while immersed in a virtual 3D environment, the home improvement retailer said in a Monday (June 3) press release.

In its upcoming pilot program, Lowe’s will offer this experience in stores and with the assistance of a store associate, according to the release.

From: Lowe’s Launches In-Store Mixed-Reality Experience.

xxx

xxx

David Birch and Victoria Richardson’s Money in the Metaverse dives into the heart of the monetary system underpinning the metaverse, exploring its potential impact on business and commerce. The book unpacks complex concepts like digital assets, online identities, and spatial computing, making them understandable for both tech enthusiasts and those new to the virtual world.

One of the book’s strengths is its clear structure. Birch and Richardson establish a foundational understanding of the metaverse, then delve into the various digital assets that will fuel its economy. They create a taxonomy – a system for classifying these assets – which provides a framework for comprehending the diverse virtual goods users will encounter. This includes everything from avatar clothing to virtual land ownership.

The concept of online identity takes center stage as well. The authors propose a “tried-and-tested model” for navigating this new landscape. Understanding how we represent ourselves virtually and the security considerations involved is crucial for safe and successful participation in the metaverse.

The book shines in its exploration of the real-world business opportunities presented by the metaverse. Birch and Richardson outline how companies can leverage virtual spaces for marketing, sales, and even creating entirely new revenue streams. They don’t shy away from the challenges, however, acknowledging issues like data security and regulation that need to be addressed.

From: (4) The Money Book Circle series – Q2 2024 edition.

xxx