In a world inundated with data, traditional methods of financial crime detection are becoming inadequate. Financial crime remains a challenge for financial institutions (FIs) worldwide, evolving in complexity and scale with each passing day. This shifting threat landscape means that advances and innovations designed to give detecting, preventing and combating financial crime a shot in
Cryptocurrency miners are reportedly scrambling to boost their revenues by forging deals with AI developers. As the Financial Times (FT) reported Wednesday (July 17), these miners operate vast, powerful computing sites and have struggled to turn a profit due to high energy costs and reduced rewards for mining. Now, the report says, the miners seek
Docyt has added an “AI bookkeeper” called GARY to its digital back-office solutions for small and medium-sized businesses (SMBs). GARY is built on the Docyt AI software-as-a-service (SaaS) financial management platform that integrates expense management, revenue accounting, industry vertical reporting and financial reporting of key performance indicators (KPIs), the company said in a Tuesday (July
High interest rates usually spell trouble for venture capital (VC) firms. But with a hot hand to play like AI and cybersecurity, and a shrewd evaluation strategy for potential investments, VC companies can still find plenty of opportunity. It’s a formula that Geneva-based Forestay Capital has worked effectively recently. On Monday (July 8), it announced
The market cap of AI chip maker Nvidia passed $3 trillion in the second quarter. Because microchips are made from silica, it’s tempting to say that Nvidia’s entire capitalization is built on sand. But nothing is firmer than Wall Street’s belief in artificial intelligence. The behemoth’s stock surged 37% in the past three months and
Elon Musk has warned Bill Gates against betting against Tesla again. Musk’s warning also comes along with an ambitious target to transform Tesla into a $30 trillion AI giant. In a post on X, Musk responded to a tweet by sharing his plans for Tesla. Musk envisions Tesla growing by moving from selling electric vehicles (EVs)
Runway Tees Up a $450 Million Investment. According to The Information, General Atlantic will lead the new round, which would value RunwayML at $4 B. The New York company has raised $237 million to date. Investors include Google, Nvidia, Salesforce Ventures, Felicis Ventures, Amplify Partners, Lux Capital Management, Coatue Management and Madrona Venture Group. Gen-3
A growing number of tech firms are reportedly cautioning investors about risks related to their efforts in artificial intelligence (AI). At least a dozen major tech companies have “quietly” issued AI-related warnings this year by adding or updating them in the “risk factors” section of reports filed with the Securities and Exchange Commission (SEC), Bloomberg
AI companies are attracting huge rounds of funding reminiscent of 2021, when low interest rates pushed investors away from taking risks on tech investments. In May, CoreWeave, a provider of cloud computing services for AI companies, raised $1.1 billion, followed by $7.5 billion in debt, valuing it at $19 billion. Scale AI, a provider of
Welcome back to The Prompt. AI is now helping humans correct AI output. OpenAI has trained a new GPT-4-based model called CriticGPT to catch mistakes in code produced by ChatGPT. As generative AI models advance and their errors become more subtle, models like CriticGPT could help humans train the systems more efficiently by spotting more