(EurekaAlert) the National Science Foundation has selected Stevens Institute of Technology to lead the first-ever industry-university cooperative research center, or IUCRC, devoted to financial technology and science. Among the initial areas of focus in the IUCRC will be cybersecurity; high-frequency automated markets; technology risk and regulation; commercialization; and applications of blockchain, quantum computing, natural language processing and A.I. to the finance industry.
The five-year award creates a cooperative research center that brings together partners to conduct research that is particularly relevant for industry and has a high potential for commercialization. Stevens was named lead institution for the center, which includes Georgetown University and Rensselaer Polytechnic Institute, and between eight and 25+ companies with the goal of finding innovative solutions for complex challenges facing the fintech industry.
Stevens’ location and existing relationships with financial firms position it well to lead the center. With its proximity to New York City, Stevens has worked closely with financial firms and banks to identify core challenges facing industry and has responded by addressing those needs, further strengthening these relationships while simultaneously shaping its research endeavors and curriculum to align with those needs. The result: the transformation of the School of Business to a tech-infused powerhouse.