Artificial Intelligence: America’s Pacific Northwest National Laboratory (PNNL) Uses AI To Detect Illegal Nuclear Weapons
Researchers at Pacific Northwest National Laboratory (PNNL) in the United States are using machine learning techniques to identify rogue nuclear weapons. The analysis of the chemicals and infrastructure required to produce these weapons is key to detecting undesirable nuclear activity.
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FinTech: Apple Launches Apple Pay Later, Its Own BNPL Product
Apple (NASDAQ: AAPL) has introduced a new feature called Apple Pay Later in the US, allowing users to split their purchases into four payments without any interest or fees. Users can apply for loans ranging from $50 to $1,000 for online and in-app purchases made on iPhones and iPads with merchants that accept Apple Pay.
Artificial Intelligence: Levi Strauss Ties With Lalaland.ai For AI-Generated Fashion Models
Levi Strauss & Co. (NYSE: LEVI) has announced a partnership with Lalaland.ai, a digital fashion studio that creates AI-generated models. The Amsterdam-based company uses advanced AI technology to create hyper-realistic models of different body types, ages, sizes, and skin tones to provide a more inclusive, personal, and sustainable shopping experience for fashion brands, retailers, and customers.
Artificial Intelligence: Abu Dhabi Firm Presight AI Makes Stunning Listing Debut
Abu Dhabi-based data analytics firm, Presight AI Holding Plc, surged as much as 176% on its stock market debut on the Abu Dhabi Securities Exchange after raising $496m in its IPO for almost a third of the business. The company is majority-owned by G42, controlled by Sheikh Tahnoon bin Zayed al-Nahyan, the UAE’s national security adviser.
FinTech: Feared Hindenburg Research Targets Block, Stock Plunges 17%
Hindenburg Research, a financial research firm, has accused Block (NYSE: SQ) (formerly known as Square) of facilitating fraud for criminals and inflating user metrics by failing to enact mandatory know-your-customer (KYC) procedures.
Artificial Intelligence: Mozilla Launches Startup To Promote Trustable AI
Mozilla, the non-profit organization behind the popular Firefox web browser, is investing $30 million to create a startup and community called Mozilla.ai, focused on building a trustworthy, independent, and open-source AI ecosystem.
Artificial Intelligence: Gates Calls AI (Such As GPT) A Revolution on Par With The PC And Internet
Microsoft (NASDAQ: MSFT) co-founder Bill Gates has described OpenAI’s GPT AI model as the most significant technological development since the introduction of the modern graphical user interface in 1980.
Venture Capital: JMI Closes Oversubscribed Fund XI At $2.4B
JMI Equity has closed JMI Equity Fund XI and JMI XI Executive Fund with total commitments of $2.4 billion. The oversubscribed fund received strong support from new and existing investors, bringing JMI’s total capital commitments to more than $8bn since its founding in 1992.
FinTech: Users Can Now Receive Western Union Remittances Into Vietnam’s Highly Popular MoMo App
Western Union and MoMo have announced a collaboration enabling MoMo’s 31 million customers to receive Western Union money transfers through the MoMo app. This is the first time Western Union’s services have become available on a leading super app in Vietnam.
Artificial Intelligence: Acer Launches ebii, An AI-Driven Smartbike For City Commutes
Acer (TPE: 2353) has recently launched a new e-bike called the ebii, which features an innovative modular design and an intelligent vehicle control box powered by AI. The control box integrates the battery pack and control box into one unit, allowing for easy maintenance and upgrades, all while being eco-friendly with a smaller carbon footprint.
Artificial Intelligence: Microsoft To Weave AI Into Its Office Software
Microsoft (NASDAQ: MSFT) is enhancing its suite of productivity tools with artificial intelligence (AI) software, demonstrating an AI “co-pilot” for its Office software. The globally popular Office suite includes Word documents, Excel spreadsheets and PowerPoint presentations.
FinTech: Stripe Raises $6.5B At A Heavily Truncated Valuation Of $50B
Payment processor Stripe raised $6.5 billion in a non-dilutive Series I financing round, valuing the company at $50 billion, down almost 50% from the record valuation of $95 billion in garnered in a 2021 funding.
Artificial Intelligence: OpenAI Announces GPT-4
OpenAI, backed by Microsoft (NASDAQ: MSFT), has announced the release of its latest AI model, GPT-4, which is capable of generating content in response to both text and image prompts, a capability described as “multimodal.”
Artificial Intelligence: Microsoft Reportedly Lays Off Its AI Ethics Team
Microsoft (NASDAQ: MSFT) has reportedly laid off its entire ethics and society team that was tasked for the ethical and responsible development of its artificial intelligence (AI) technology. The layoffs are part of a recent restructuring that affected almost 10,000 employees, and come as the company makes a determined effort to successfully integrate AI into its market-laggard Bing search engine, according to a report attributed to Platformer.
Venture Capital: Y Combinator Warns Of Catastrophic Implications From SVB Collapse, Itself Lays Off 20% Of Staff
Y Combinator, the storied startup accelerator, has petitioned the US government to intervene on behalf of 10,000 small businesses and startups with accounts at Silicon Valley Bank (SVB) who may be unable to pay employees in the next 30 days due to the bank’s insolvency.
Digital Assets: Federal Support Action For Resolving SVB And Signature Bank Crises
The US Government has taken swift action to stem the economic backlash from the failures of Silvergate Bank, Silicon Valley Bank, and Signature Bank. While Silvergate and Signature were both crypto-focused banks, Silicon Valley was the go-to bank for the venture capital industry. Silvergate, however, voluntarily chose to down shutters. A statement from the Department of Treasury detailed a concerted strategy to protect depositors at SVB and Signature.
Venture Capital: Troubles At Silicon Valley Bank Trigger Warnings From Top Drawer VC Firms
Silicon Valley Bank (NASDAQ: SIVB), a major lender to start-ups, has faced a crisis after announcing a $2.25bn share sale following a significant loss on its portfolio. The company’s shares fell by 60% and its bonds posted record declines. The shock development sent tremors through the venture capital world, with many top VC firms advising their portfolio startups to bail out from Silicon Valley Bank (SVB).
Artificial Intelligence: ChatGPT, OpenAI’s World-Beating AI Chatbot, Now Available On The Apple Watch
Apple Watch users can now access ChatGPT, the AI-powered chatbot that became a runaway hit since its launch in November, through a dedicated app named watchGPT. The app is available on the App Store for $3.99.
Venture Capital: Salesforce Ventures’ Launches $250M Generative AI Fund, Invests In Cohere AI
Salesforce Ventures has announced a $250 million generative AI fund, with Toronto-based start-up Cohere among the first four companies to receive investment. Cohere, which provides access to large language models and natural language processing tools through one API, has previously raised $170m, including a $125m Series B round in 2021. It is understood to be seeking further investment in a current funding round. Cohere will partner with Salesforce to bring its technology to Salesforce’s enterprise customers.
Fintech: Stripe Raising Funds To Buy Employees’ Shares And Cover Their Tax Bill
Stripe, a payments company, plans to use the funds it raises in its latest round of fundraising to cover a $3.5 billion tax bill. The company is aiming to raise $2.3 billion to cover tax withholdings in Q1 and an additional $500 million and $700 million in taxes later this year and next year respectively, according to a Bloomberg report.
Venture Capital: UK Fintech Abound Lands $601M
Abound, a UK-based consumer lending service, has raised £500m ($601m) in equity and debt funding to expand its open banking business. The start-up, which uses open banking data and machine learning algorithms to offer lower interest loans and develop “better credit scores”, will use the funds to finance loans, bring in more customers and invest in its technology.
Artificial Intelligence: Bad Actors Are Using Voice Impersonation To Dupe Victims
Increasingly sophisticated AI allows scammers to replicate someone’s voice with an audio sample that could be as short as just a few sentences. Voice impersonation scams are on the rise in the US. The advancement of artificial intelligence (AI) has made it easier for bad actors to mimic voices, tricking people into believing that their loved ones are in distress.
Digital Assets: Key Crypto Players Sever Links With Silvergate Capital
On March 2nd, four firms related to cryptocurrency announced that they will no longer be doing business with Silvergate Capital (NYSE: SI). This decision was made after Silvergate revealed in an SEC filing that it was delaying its annual report due to ongoing investigations. (PYMNTS)
FinTech: Zenus Bank Ties With Visa To Issue Debit Cards Across 46 Countries
Zenus Bank and Visa (NYSE: V) have extended their partnership, and Zenus has become the first bank to launch a single Visa Infinite Debit Card to customers across the globe. Zenus offers true US bank accounts remotely to people in over 46 countries and provides a virtual Visa Infinite debit card, and a physical card can be received in under 10 days.
Artificial Intelligence: Bridgewater Post-Dalio – More AI And Machine Learning, Less People
CEO Nir Bar Dea is now at the helm of Bridgewater. Bridgewater Associates, the world’s largest hedge fund, is adopting a new strategy under the leadership of CEO Nir Bar Dea, following its founder Ray Dalio’s departure five months ago. Bar Dea’s strategy aims to improve returns, increase profitability, and develop new sources of revenue….