Search Results for: artificial intelligence

EU Commits ā‚¬200 Billion to Develop Artificial Intelligence (AI)

The European Union (EU) has announced a commitment of ā‚¬200 billion to boost development of artificial intelligence (AI). In a public statement at the Artificial Intelligence (AI) Action Summit in Paris, Commission President Ursula von der Leyen announced the new funding to accelerate AI in… Read More

Executive Order Signed to Maintain US Leadership in Artificial Intelligence (AI)

President Donald Trump signed an Executive Order today that aims to keep the US at the forefront of Artificial Intelligence (AI) development. The EO revokes “certain existing AI policies and directives” that have been deemed to undermine AI innovation. The goal is to clear a… Read More

President Trump Announces $500 Billion Investment in Artificial Intelligence

President Donald Trump took to the podium once again to reveal a significant investment targeting Artificial Intelligence development. “Largest AI Infrastructure project in history” At a press event at the White House, the President introduced Larry Ellison, CEO of Oracle, Masayoshi (Masa) Son, CEO of… Read More

President Trump Rescinds Biden Executive Order on Artificial Intelligence

As one of many Executive Actions taken by President Donald Trump, the Biden Executive Action pertaining to Artificial Intelligence (AI) has been rescinded. As posted on the White House website, Executive Order 14110 of October 30, 2023 (Safe, Secure, and Trustworthy Development and Use of… Read More

UK: 75% of Financials Services Firms Using Artificial Intelligence (AI)

The Bank of England and the Financial Conduct Authority (FCA) have jointly published a report indicating that 75% of financial firms already use artificial intelligence (AI). AI rocketed to public perception following the release of ChatGPT. Consumer development of AI fueled a need for all… Read More

AI Adoption Report: Artificial Intelligence Deal Count Surged to Highest Level Since Q1ā€™22 Peak

CBInsights has released the latest State of AI Q3ā€™24 Report. CBInsights noted that the quarterly AI (artificial intelligence) deal count surged to reach “highest” level since Q1ā€™22 peak. In Q3ā€™24, CBInsights revealed that the global AI deal count surged “24% QoQ to reach 1,245 ā€”… Read More

Accenture and AWS to Help Organizations Scale Adoption of Artificial Intelligence (AI) Responsibly

Accenture (NYSE: ACN) announced an expansion of its strategic collaboration with Amazon Web Services (AWS) to create Accenture Responsible Artificial Intelligence (AI) Platform powered by AWS to help organizations adopt and scale AI rapidly with trust and confidence throughout their enterprise. The rapid rise of… Read More

Financial Technology Association Tells US Government to Take Unified Approach on Artificial Intelligence, Encourage Innovation

The Financial Technology Association (FTA) has posted a comment letter directed towards the US Department of Treasury in regard to a request for feedback on the use of Artificial Intelligence (AI) in financial services. The FTA advocates on behalf of the benefits of AI, urging… Read More

Automotive Lending Transformed by AI But Dealers Reportedly Have Concerns About Artificial Intelligence Leading to Job Loss, Lack of Human Interaction

Automotive lending has been quickly transformed by artificial intelligence (AI) with the promise of faster, more accurate and more cost-effective credit decisions and approval processes. Auto dealers are not exactly ready to embrace the new technology. According to the J.D. Power 2024 U.S. Dealer Financing… Read More

European Artificial Intelligence Act Begins Today

The European Artificial Intelligence ActĀ  (EU AI Act) goes into force today. The EU legislation aims to regulate services that leverage AI. The goal is to enable the development of the technology while protecting consumers and businesses. The legal framework applies to both public and… Read More

US House Financial Services Committee Schedules Hearing on Artificial Intelligence (AI) and Financial Services

The House Financial Services Committee has scheduled a hearing entitled ā€œAI Innovation Explored: Insights into AI Applications in Financial Services and Housing.ā€ The hearing, which is for the full committee, will take place on Tuesday, July 23rd. The Hearing may reflect the recent position paper… Read More

AI Adoption Report: Assessing Global Readiness for Artificial Intelligence Indicates Prospects Diverge

The International Monetary Fund (IMF) has released an update titled “Mapping the World’s Readiness for Artificial Intelligence Shows Prospects Diverge.” The IMF noted in a blog post that the new AI Preparedness Index Dashboard “tracks 174 economies based on their digital infrastructure, human capital, labor… Read More

Artificial Intelligence Expected to Play Increasingly Important and Transformative Role in Banking – Report

Citi Global Perspectives and Solutions has released a report AI & Finance: Bot, Bank & Beyond. The report analyzes the role that artificial intelligence (AI) might play in “changing the way both consumers and corporates bank.” From the likely use of autonomous agents executing client… Read More

AI Adoption: Zillow Is Providing Open-Source Tech to Enable “Fair” Housing in Artificial Intelligence enhanced Real Estate Conversations

Zillow (NASDAQ: Z and ZG) is releasing its open-source Fair Housing Classifier, which establishes guardrails to promote responsible and unbiased behavior in real estate conversations powered by large language model (LLM) technology. The Fair Housing Classifier acts as “a protective measure, to encourage more equitable… Read More

California to Undermine Artificial Intelligence [AI] Innovation with New Legislation (SB 1047)

This past week, the California state legislature approved an Artificial Intelligence (AI) bill, SB 1047 that is being described as undermining innovation and hampering the development of the new technology. Joe Lonsdale, founder of Palantir (NYSE:PLTR) – a firm engaged in AI development, slammed the… Read More

AI Act: European Council Approves Law Aiming to Harmonize Rules on Artificial Intelligence

The European Council has now approved a law aiming to harmonise rules on artificial intelligence, the so-called artificial intelligence act. The flagship legislation follows a ā€˜risk-basedā€™ approach, which means “the higher the risk to cause harm to society, the stricter the rules.” It is the… Read More

US CFTC Appoints First Chief Artificial Intelligence Officer, Schedules AI Day

The Commodity Futures Trading Commission (CFTC) has scheduled an “AI Day” for today (May 2, 2024). In advance of this gathering, the CFTC has appointed its first Chief Artificial Intelligence Officer.Ā  CFTC Chairman Rostin Behnam has selected Dr. Ted Kaouk for the new role. Currently,… Read More

Artificial Intelligence Is Reportedly Creating New Hiring Requirements, While Making it Challenging to Source Talent

Ernst & Young LLP (EY US) announced the release of its latest technology pulse poll, which examines the impact of artificial intelligence (AI) on the future of work ā€” from integration to talent and culture. The poll, which was conducted in March 2024 and “surveyed… Read More

Fintech Professional Shares Perspective on EU Artificial Intelligence Act and UK’s AI Legislation

With the UK rethinking its approach to AI legislation, Scott Dawson, Head of Strategic Partnerships at DECTA, an end-to-end payments solutions provider, has shared insights focused on examining what a divergence in the UK and the EU’s legislative approach in AI could mean. Scott Dawson,… Read More

AI: Linedata Buys DreamQuark, a Global Artificial Intelligence Firm for Financial Services

Linedata (Euronext Paris: LIN), a France-based Fintech, has acquired DreamQuark – an artificial intelligence (AI) firm that provides services to financial firms like banks and wealth managers. The terms of the acquisition were not revealed. Nicolas Meric, CEO of DreamQuark, said they are thrilled to… Read More

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