Issue link: https://maltatoday.uberflip.com/i/1097443
28.03.19 4 NEWS CONTINUED FROM PAGE 1 However, he emphasised that this way only beneficial to developers and not the citizens. "In our case," he said, "GDPR is a bul- wark for EU citizens." Grixti also said, "that the Taskforce and the government are currently discussing the possibility of future amendments to this law. On the other hand, Keith Strier, Er- nest and Young's global Advisory Leader for Artificial Intelligence indi- cated that the future of AI might look beyond 'big data' demands. "Although in some AI applications having more data is important and more valuable this is not true for all applications," he told BusinessToday. Strier emphasised that "some of the latest scientific cutting edge develop- ment enable AI models to get smarter when trained on fewer data." Quizzed on this issue, Parliamentary Secretary Silvio Schembri recounted how similar obstructions were present during the drafting of the first regula- tory framework for distributed ledger technologies (DLT). "Since this was an EU wide act, they took some time in discussing it, unfor- tunately, they failed to include consid- erations of other technological devel- opments which were happening at the time such as blockchain. Which some of its fundamentals go against GDPR," said Schembri. However, "he insisted that this does not mean that we will stop the eco- nomic process. We went from one extreme to another. Looking at the future, especially with AI, 5G and the internet of things there must be some tweaking in GDPR. We are full mem- bers of the EU and we will discuss such issues, laws are there to be amended and adjourned to the present time, " expressed Schembri. Last week experts and leader in the field met up during a public consulta- tion workshop on the newly released Malta.AI strategy Which will see Mal- ta becoming a will be a disruptor, not just follower on Artificial Intelligence (see pages 6 and 7). Future of AI might look beyond 'big data' demands Silvio Schembri, parliamentary secretary for digital innovation, Keith Strier, Ernest and Young's global advisory leader for artificial intelligence, and Wayne Grixti, Malta.AI chairman EUROPEAN Money Week seeks to boost public awareness on the benefits of financial education as low levels of financial literacy are increasingly perceived as prob- lematic, especially given the rapid emergence of financial technolo- gy that emphasizes the digital na- ture of money. e fifth European Money Week which aims at promoting financial literacy and financial education amongst students and youths, takes place during 25th – 29th March 2019, with finan- cial education events organised by national banking associations across Europe, under coordina- tion of the European Banking Federation. is annual initiative now in- volves young people in more than 32 countries, with activities ranging from classroom sessions to seminars and conferences, all seeking to improve financial lit- eracy through better financial education. is year's European Money Week was officially launched by Stephen Cachia, Director General, Department for Cur- riculum, Lifelong Learning and Employability at the Ministry for Education and Employment, on Monday, 25 March at St. Ignati- us College, Middle School, Tal- Handaq. A programme of events and activities for this purpose was organised by the Malta Bankers' Association in collaboration with the Home Economics Seminar Centre within the Directorate for Learning and Assessment Programmes, its members, the Central Bank of Malta, Finance Malta, the Institute of Financial Services and Global Payments Ltd. In his address, the Secretary General of the Malta Bankers' Association, Karol Gabarretta, stressed that "financial education is an important key for students' future empowerment. In today's times the incentive to save un- fortunately may have decreased as the opportunities for doing so have been whittled down over recent years as interest rates have tumbled. However, it is extreme- ly important that we, as current guardians of our children's fu- ture, ensure that young people start from an early age being ex- posed to financial education and literacy." Gabarretta said that this year's Money Week programme was built on a number of successful events which had been organ- ised in past years. One such event was the "Financial Literacy Chal- lenge" which this year was or- ganised in two categories one for Year 5 and 6 pupils and the other for Year 7 and 8 students. e participating school teams had to plan and implement an activi- ty aimed at promoting awareness related to financial literacy and education, and the cash prizes which were awarded by the Mal- ta Bankers' Association are to be used to fund school initiatives re- lated to financial literacy. Another successful event in- cluded in the programme fo- cused on teacher development training. Around fifty Home Eco- nomics teachers were invited to participate in a morning seminar entitled "Financial Literacy Mat- ters for Educators". e training was aimed at updating the par- ticipants on new, fast-moving developments in various areas of financial services. In addition to these events, this year's programme also in- troduced an information ses- sion entitled Cybersecurity and Payments for post-secondary students. e session aims to highlight the importance of awareness among young people on cybersecurity issues so as to help them develop sufficient knowledge of the risks in this area thus enhancing their cyber- security skills. European Money Week 2019 launched in Malta Karol Gabaretta (right), Secretary General of the Malta Bankers' Association and Stephen Cachia, Director General, Department of Curriculum, Lifelong Learning & Employability, Ministry for Education & Employment together with student representatives from St Theresa College, Primary School, Msida, St Ignatius College, Middle School, Handaq, Maria Regina College, Learning Support Centre, Naxxar and St Augustine College, Secondary Sector, Pieta'