CNBC Social tuned into the Exponential Finance conference at Lincoln Center this week, where robots, virtual currency, and virtual reality took center stage.
New players such as Customers Bancorp and Hightower Advisors joined well-known companies such as Google and Sprint to offer a variety of insights on innovations in the financial world.
Here are 10 facts you didn’t know about the world of technology and finance, as shared by #xfinance.
1) Banks charge $32 billion in overdraft fees every year.
2) Driverless cars have driven 800,000 miles without incident.
3) You can control a robot called Beam from the other side of world, sending you from the U.S. to China within seconds. Interestingly, there are no legal restrictions to operate such a device remotely (yet).
4) Sprint anticipates being able to provide speeds faster than 150 mbps by next year. (Yeah, that’s pretty fast.)
5) Crime is a $2 trillion per year business.
6) One percent of U.S. GDP is lost due to cybercrime.
7) The “deep web” is 500 times larger than the surface web (Note: The deep web is where the bad guys hang out).
8) Barney Frank is “mostly” satisfied with the Dodd-Frank Act.
9) Google has bought 8 robotics companies over the past year.
10) In the 1980s, a study said a million people would not buy a mobile phone. The rationale? It was too large.