Artificial Intelligence

August 1, 2024 @ 11:46 am By Omar Faridi  |  

Ireland sees venture capital (VC) investment pick up in Q2’24 and saw 24 deals raising $237.5 million an increase of nearly two fifths (38 percent) compared to $172.5 million across 33 deals for the same period last year. VC investors showed increasing willingness “to make… Read More

August 1, 2024 @ 11:35 am By JD Alois  |  

The European Artificial Intelligence Act  (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

July 31, 2024 @ 9:21 am By Omar Faridi  |  

ThetaRay, an AI-powered financial crime detection firm, has announced the acquisition of European screening company, Screena. The acquisition is being described as demonstrating ThetaRay’s continuous investment “in proprietary technology and reaffirms its mission of enabling banks, fintechs, and regulators to detect financial crime with state-of-the-art… Read More

July 31, 2024 @ 9:14 am By Omar Faridi  |  

First AI Pulse Survey shared by EY reveals that the number of senior leaders investing $10 million or more is set to nearly double, but many are failing to also invest in necessary infrastructure, jeopardizing AI’s impact. After more than a year of hype around… Read More

July 30, 2024 @ 9:23 am By Omar Faridi  |  

Kaspersky is pleased to announce the launch of a new AI-focused module within its Kaspersky Automated Security Awareness Platform (ASAP). This latest addition aims to equip professionals “with the necessary skills to combat the evolving threats posed by AI-driven cyberattacks.” The urgency of understanding AI-related… Read More

July 30, 2024 @ 8:10 am By Omar Faridi  |  

AI Fintech Aveni.ai has announced one of the largest Series A investments in a Scottish business this year, amounting to £11 million. The investment is led by Puma Private Equity with participation “from Par Equity and financial services industry leaders: Lloyds Banking Group and Nationwide.”… Read More

July 29, 2024 @ 11:22 pm By Omar Faridi  |  

FTC Chair Lina M. Khan, alongside international antitrust enforcers and the Department of Justice, Antitrust Division, issued a statement affirming a commitment “to protecting competition across the artificial intelligence (AI) ecosystem to ensure effective competition that provides fair and honest treatment for both consumers and… Read More

July 28, 2024 @ 4:45 pm By Omar Faridi  |  

Applied Systems announced that it has acquired Planck, the Artificial Intelligence (AI) company for the insurance industry. This strategic acquisition will significantly “expand Applied’s AI capabilities, accelerating its vision for the next generation of the digital roundtrip of insurance and creating more value at every… Read More

July 26, 2024 @ 1:01 pm By JD Alois  |  

Artificial Intelligence (AI) is quickly becoming ubiquitous and not just in financial services. While some worry that AI may remove the need for real people to do real jobs, most predict that AI will remove labor-intensive tasks from the stack, allowing individuals to focus on… Read More

July 25, 2024 @ 9:57 pm By Omar Faridi  |  

Uppsala Security, a provider of tools and services for crypto AML/CTF, transaction risk management, regulatory compliance, transaction tracking, and cybersecurity, recently announced the listing of Chainkeeper on GetBlock’s Marketplace. Chainkeeper is an AI crypto investigator designed “to professionally and efficiently address the security challenges of… Read More

July 25, 2024 @ 12:52 pm By Omar Faridi  |  

Bitcoin miners are reportedly shifting towards HPC and AI data business models, according to an update shared by Compass Mining. As noted in a blog post by Compass Mining, Bitcoin miners are now “diversifying into high-performance computing (HPC) and artificial intelligence (AI) data business models… Read More

July 24, 2024 @ 11:00 am By Omar Faridi  |  

  We recently connected with Kelvin Tan, CEO of audax, a corporate venture backed by Standard Chartered Bank. Before transitioning to a full-time career as an entrepreneur, Kelvin held multiple roles at Standard Chartered Bank — from Transaction Banking to Retail Products and Payments to… Read More

July 23, 2024 @ 5:37 am By Omar Faridi  |  

Global Relay, the provider of communications compliance solutions for regulated industries, announces its integration between OpenAI’s ChatGPT Enterprise Compliance API and Global Relay’s financial compliance platform. The new compliance capabilities launched by OpenAI in conjunction “with Global Relay’s platform will help customers use OpenAI’s Enterprise… Read More

July 21, 2024 @ 10:02 pm By Tony Zerucha  |  

april, an AI-powered tax-filing product built to be embedded with financial services providers, this week appointed Raj R. Doshi as its president and chief operating officer. Doshi brings more than 20 years of experience with organizations including Google, TaxAct and Avantax. Doshi’s focus will be… Read More

July 21, 2024 @ 2:30 pm By Tony Zerucha  |  

Fraudulent transactions in the first half of 2024 were up more than 73% year over year, and suspected fraudulent transactions increased by more than 84%, according to the 2024 Mid-Year Identity Fraud Review, released this week by AuthenticID, a provider of identity verification and fraud… Read More

July 21, 2024 @ 8:11 am By Omar Faridi  |  

It is now possible to pick up a packet of flour or a bottle of wine around the clock – including weekends – in the village of Freckenfeld (Rhineland-Palatinate, Germany). The local village store had been closed since May 2023 and was recently reopened with… Read More

July 19, 2024 @ 12:03 pm By Michael Wong  |  

New Frontier Funding, a company that uses generative AI to assist small and medium-sized businesses (SMBs) in securing credit and debt funding, has closed a substantial round of growth capital from the Homsher Family Office. The financial terms of the transaction were not disclosed. This… Read More

July 18, 2024 @ 4:28 pm By JD Alois  |  

The House Financial Services Committee has revealed a report on Artificial Intelligence (AI). The staff report comes from the Committee’s bipartisan Working Group on AI. The report is being released in advance of a Committee hearing next week entitled “AI Innovation Explored: Insights into AI… Read More

July 18, 2024 @ 4:02 pm By JD Alois  |  

Online investment platform OurCrowd has invested in CytoReason as part of an $80 million funding round. OurCrowd joined a group of big names in supporting the firm as NVIDIA, Pfizer, and Thermo Fisher all participated in the funding round. Bank Hapoalim was said to have… Read More

July 16, 2024 @ 3:40 pm By JD Alois  |  

The House Financial Services Committee has scheduled a hearing entitled “AI Innovation Explored: Insights into AI Applications in Financial Services and Housing.” 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