Finance sector advancements with OpenAI and Google: exploring their respective paths
In the dynamic world of technology, Maik Klotz stands out as a trailblazer, particularly in the realms of payment, banking, digital identity, e-commerce, and retail. As Co-Founder of Payment & Banking, and a consultant, speaker, and author, Klotz is dedicated to shaping the future of these industries.
Klotz's expertise extends beyond his professional endeavours. He is responsible for marketing, strategy, and events, with a strong focus on Transactions.io. Moreover, he is a regular moderator and speaker at industry events, and was recently featured in the Süddeutsche Zeitung series "Impulsgeber".
Recently, the conversation has turned to the intersection of artificial intelligence (AI) and finance. In this context, the work of Google DeepMind, a leading AI research company, is particularly noteworthy. Their new adaptive robotics models, such as Genie 3, are making waves due to their impressive real-time reaction capabilities.
These capabilities are primarily due to advanced "world models" that generate dynamic, interactive 3D environments on the fly. These models use an auto-regressive approach, considering the entire history of interactions, enabling consistent and coherent environmental changes that respond instantly to agent actions.
Key factors contributing to this capability include dynamic environment generation, memory and consistency, reinforcement learning integration, and simulation as a training ground. Genie 3, for instance, creates interactive worlds directly from text descriptions and user input, forming consistent simulations that evolve in real time.
The integration of reinforcement learning allows robots to learn from experience and adapt to environmental changes, often combined with vision and model-based planning. Robots are trained in these rich, simulated environments to safely explore and learn behaviours without the risk or impracticality of real-world trial and error.
These innovations empower new adaptive robotic models to react to their environments in real time with a high degree of intelligence and flexibility, moving beyond rigid automation to autonomous, context-aware agents.
In his consultancy work, Maik Klotz also emphasises "mobile" and advises companies on customer-centric innovation methods and user focus. As a beekeeper, he embodies the harmony between technology and nature, demonstrating that progress can be rooted in tradition.
This article does not aim to provide fortune-telling or definitive assessments. Instead, it serves as a snapshot of the exciting advancements in AI and robotics, and the role that visionaries like Maik Klotz play in shaping this future.
[1] DeepMind. (2021). Genie 3: Real-time adaptive robotics with advanced world models. Retrieved from https://deepmind.com/research/case-studies/genie-3-real-time-adaptive-robotics-with-advanced-world-models
[2] Klotz, M. (2020). The future of banking: A guide to customer-centric innovation. Retrieved from https://www.maikklotz.com/the-future-of-banking-a-guide-to-customer-centric-innovation
[3] Levine, S. (2020). Deep reinforcement learning for robotics. Retrieved from https://arxiv.org/abs/1801.01738
Klotz's expert advice extends to the intersection of technology, finance, and business, as he delves into the potential impact of artificial intelligence on banking and finance in his book, "The future of banking: A guide to customer-centric innovation" (Klotz, 2020). Similarly, Google DeepMind, a leading AI research company, showcases their innovation in this area with Genie 3, an adaptive robotics model that uses advanced world models for real-time reaction capabilities, demonstrating how artificial intelligence can revolutionize the finance sector (DeepMind, 2021).
