As the Chinese coronavirus endemic gathers momentum, gloom and doom prognostications on the Chinese economy are quickly out of the gate. Short the Pandemic! Buy an Inverse China ETF. It’s a no-brainer that the Chinese economy, hence Chinese stocks, will take a hit from the coronavirus. And certain ETF’s reflected investors’ sentiments.
Brian Schettler, the head of Boeing’s HorizonX venture fund, talks to DefenseNews.
Boeing’s HorizonX venture fund has invested across 25 companies. Each investment is less than $10 million, and the cumulative amount would be small when juxtaposed against the sums deployed by traditional VC firms in commercial ventures (not defense or aerospace).
Speaking to DefenseNews, Schettler provided interesting insights on why traditional VCs are giving the cold shoulder to startups in defense and aero.
Toronto-based BlueDot, which uses big data and AI, red-flagged the coronavirus outbreak in December. BlueDot’s AI-driven health monitoring platform analyzes billions of data points. Its process works something like this: It pores over global news reports, airline data, and animal disease outbreaks using natural language processing and machine learning techniques. The outputs from the platform are scanned by epidemiologists who sound the alert if they spot an outbreak.
China is working on guidelines for the establishment of online-only banks.
Chinese regulators are pushing for the establishment of new, 100% digital banks to reduce risk in the country’s financial sector. They also want to broaden Chinese banking by allowing participation from new players including foreigners.
The Chinese people need have no fears that their jobs would be taken over by artificial intelligence and robots says a government report.
According to a report by The Chinese Academy of Social Sciences, artificial intelligence (AI) is unlikely to put millions of Chinese out of jobs. On the contrary, a report from the Chinese government’s think tank says additional jobs would be created due to the adoption of AI.