Luxembourg-based HR tech company Zortify and the Interdisciplinary Centre for Security, Reliability and Trust (SnT) at the University of Luxembourg are pioneering next-generation artificial intelligence (AI) for the European context in the domain of Human Resource management.
How are European investors responding to the prolonged economic uncertainty brought on by the pandemic, war, high interest rates, and the energy crises that defined 2023? What can kickstart investment in entrepreneurialism and innovation in the face of a gloomy economic outlook and a reduced appetite for risk? These are some of the core questions driving the first set of findings released by a newly formed research team, involving SnT and the European Investment Fund (EIF).
Data is a key tool for policy makers to respond to changes in a society and the challenges everyday people are facing. That is why Luxembourg’s National Institute of statistics and economic studies, STATEC has launched a partnership with the University of Luxembourg’s Interdisciplinary Centre for Security, Reliability and Trust (SnT) to set-up an in-house Data Science Lab. This lab will focus on developing and implementing AI tools that support STATEC’s mission in Luxembourg.
One day your virtual avatar in the metaverse could not just attend concerts and go shopping, but also meet with your banker. Endless digital forms have become synonymous with today’s more complex banking processes, with constant signatures for know your customer (KYC) regulations being only one example. But the metaverse offers the opportunity to transform the banking experience, by delivering an immersive experience that integrates financial solutions.
Quantum technology opens up transformative possibilities in computing, communication, sensing and many others – some of which we are only now starting to realise. But, like all technologies, it has its dark side: quantum computing will undermine much of modern cryptography, and with this the security and reliability of the internet.
Having your credit card stolen is a very frustrating experience, and sadly, one that many can relate to. In 2019 alone, fraudulent transactions involving credit cards issued in Europe accounted for €1.87 billion – a staggering amount, and one that is only expected to increase as online shopping grows. With its advanced capability to analyse large amounts of data and create forecasts, artificial intelligence (AI) could provide financial institutions with significant help in fighting fraud. However, using AI to detect financial crimes requires access to sensitive data, which raises concerns about data privacy and security. That’s where federated learning comes in.
In 2019, it was announced that the United Nations Educational, Scientific and Cultural Organization (UNESCO) had declared the language of Luxembourgish to be endangered. With a population of 630,000 in 2021, almost half of which are expatriates, the number of Luxembourgish speakers still hovers at nearly 80%.
On the world’s second-largest cryptocurrency blockchain, shady traders have quietly extracted at least $18.4 million — and no one noticed. No one, that is, until SnT’s Christof Ferreira Torres stumbled upon the massive operations while conducting blockchain research in cooperation with Luxembourg’s Spuerkeess.
2021 saw the establishment of a brand-new initiative at SnT backed by the Ministry of Finance – the Finnovation Hub. Headed by industry expert, Jean Hilger, the Finnovation Hub aims to help Luxembourg continue its reputation as one of the world’s leading financial centres.
The success of any enterprise – be it a project or a business – relies on its design. Defining key requirements, workflows, and data sources makes all the difference – and that holds true for IT systems as well. But when it comes to developing software solutions for financial services, this design phase can be notoriously complex.