Answered: What is the first technology that Mr.…

Database System Concepts

7th Edition

ISBN:9780078022159

Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Chapter1: Introduction

Section: Chapter Questions

Problem 1PE

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Mr. Shelby is a successful businessman and tech-enthusiast. He recently attended a seminar where he talked about the financial world rapidly evolving with the latest innovations of technology. Banks and other financial service providers are constantly trying to cope up with this technological transformation. From sending money to family members living in remote places of the country to buying things online to paying monthly utility bills can all be done very easily by a few clicks. Usage and delivery of these financial services are very convenient now because of this technology, he added. Moreover, Mr. Shelby mentioned that running parallel to this technology is another decentralized system that includes advanced encryption procedures to ensure safe transactions by using virtual currencies. Mr. Shelby concluded his speech by talking about the importance of machine learning in finance due to the vast availability of data. According to him, “Machine Learning in Finance is reshaping the financial services sector with many useful applications”. a. What is the first technology that Mr. Shelby talked about? Briefly explain what changes can it bring in the future? (Sir,please solve this question quickly. This is an emergency! Thanks )

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