Tagged: generative ai

October 5, 2024 @ 6:22 pm By Michael Wong  |  

Funding for the generative artificial intelligence (GenAI) sector in the Association of Southeast Asian Nations (ASEAN) is projected to increase by 50 percent year-over-year in 2025, according to the latest report from GenAI Fund. The “ASEAN GenAI Startup Report 2024” attributes this anticipated growth to… Read More

October 3, 2024 @ 3:37 am By Omar Faridi  |  

Germany based companies are reportedly relying increasingly on generative AI as a performance driver. This, according to a research study shared by KPMG. The results of the KPMG study “Performance Improvement Strategy” highlight significant adoption of AI across businesses. More intense competition, difficult financing conditions… Read More

September 30, 2024 @ 10:45 am By Omar Faridi  |  

BUSINESSNEXT, a global enabler of composable enterprise solutions for financial services, has partnered with MongoDB to support autonomous operations enhanced with predictive and generative AI for banking as well as insurance. Headquartered in New York, MongoDB enables industry participants to create, transform, and enhance various… Read More

September 22, 2024 @ 8:58 am By Omar Faridi  |  

A new report, released by Experian in collaboration with techUK, reveals Generative AI (GenAI) has the potential to boost annual U.K. GDP over the next ten years by up to £120 billion, but cites significant barriers “for businesses to overcome before that figure becomes a… Read More

September 20, 2024 @ 9:57 am By Omar Faridi  |  

UK chief executives see implementing Generative AI (GenAI) as an opportunity to change the nature of work and create highly skilled workforces without reducing the number of jobs in the market, according to KPMG’s CEO Outlook survey. KPMG surveyed more than 1,300 CEOs around the… Read More

September 12, 2024 @ 10:16 am By Omar Faridi  |  

State chief information officers (CIOs) and state chief digital officers (CDOs) recognize the importance of high data quality — especially as a critical determinant of successful artificial intelligence (AI) — but a majority have concerns about data quality, according to a new report released by… Read More

August 19, 2024 @ 8:16 am By Omar Faridi  |  

SCB 10X, the technology investment arm of SCBX Group, has announced their participation in the series A funding round for Ema, a San Francisco-based generative AI company creating Universal AI Employees of the future. The $36M Series A extension investment round, “co-led by Accel and… Read More

August 4, 2024 @ 2:45 pm By Michael Wong  |  

Gartner forecasts that at least 30% of generative AI (GenAI) projects will be abandoned after proof of concept by the end of 2025. The primary reasons cited for this high dropout rate include poor data quality, inadequate risk controls, escalating costs, and unclear business value…. Read More

July 6, 2024 @ 3:07 pm By Omar Faridi  |  

IDVerse, a key player focused on generative AI identity solutions, celebrates a significant milestone as TrustID, a firm specializing in identity verification and fraud prevention, joins its growing roster of clients. TrustID, the certified identity service provider (IDSP) and industry participant, has “chosen IDVerse to… Read More

June 23, 2024 @ 7:52 pm By Omar Faridi  |  

Trustwise, an enabler of generative AI application performance and risk management, announced its official launch, the release of its Optimize:ai product, and $4 million in seed financing. Led by Hitachi Ventures with participation from Firestreak Ventures and Grit Ventures, this investment round will “enable the… Read More

May 17, 2024 @ 8:56 am By Omar Faridi  |  

Deloitte’s 2024 Gen Z and Millennial Survey connected with nearly 23,000 respondents across 44 countries, examining the evolving circumstances shaping the workplace and the societal experiences of these generations globally. Elizabeth Faber, Deloitte Global Chief People & Purpose Officer, said: “This year’s survey spotlights two… Read More

April 21, 2024 @ 4:30 am By Omar Faridi  |  

ISDA has released a whitepaper from ISDA Future Leaders in Derivatives (IFLD), its professional development program for emerging professionals in the derivatives market. The whitepaper, GenAI in the Derivatives Market: a Future Perspective, was reportedly “developed by the third cohort of IFLD participants, who began… Read More

April 17, 2024 @ 10:53 am By Omar Faridi  |  

Deloitte announced the expansion of its global Generative AI (GenAI) incubator network to include regional hubs in the US, Canada, India, Egypt, Malaysia, Poland, Portugal and Romania—allowing clients to experiment and innovate with GenAI technology, and to develop, deploy, and scale solutions in their local… Read More

April 8, 2024 @ 10:30 am By Aaron Rafferty  |  

Generative AI [artificial intelligence] has taken the world by storm, especially with the proliferation of OpenAI’s massively popular ChatGPT. However, these generative AI models can potentially make an even greater impact than one might imagine. In the commercial real estate sector, generative AI has inspired… Read More

April 3, 2024 @ 8:41 am By Omar Faridi  |  

HighRadius announces the launch of Accounts Payable Automation, the GenAI native solution, to automate the entire payer-supplier payment process. AP teams have been working “with traditional, one-way applications intended to reduce manual processes and save costs.” However, these haven’t helped suppliers, “who get limited payment… Read More

March 19, 2024 @ 7:07 am By Omar Faridi  |  

Generative AI firm, Hazy, and Open Banking data ownership platform, Unbanx, announced today the launch of the ethical data cooperative comprising synthetically generated financial transaction data. Transaction datasets provide analysts, hedge funds and other financial institutions with invaluable insights “into behaviors and trends which drive… Read More

March 18, 2024 @ 7:57 am By Omar Faridi  |  

Generative AI (Gen AI) became popular or more widespread with consumers in 2022, when several user-friendly text-based AI systems were released to the public, according to a recent update shared by KPMG. Yet despite its infancy, respondents to a new KPMG UK poll have “expressed… Read More

February 22, 2024 @ 5:56 pm By Omar Faridi  |  

Finastra’s Filogix team has unveiled new generative AI (Gen AI) capabilities in its Expert Pro Canadian Mortgage Point of Sale (POS) solution. The function automates the creation of borrower narratives (notes) that “aids in lender underwriting – streamlining processes, saving time and minimizing errors for… Read More

February 15, 2024 @ 10:09 pm By Omar Faridi  |  

Grasshopper, the client-first digital bank built for the business and innovation economy, and Greenlite, the generative AI platform for compliance teams, today announced their partnership to leverage Greenlite’s AI-enhanced due diligence suite to bolster Grasshopper’s risk decisioning proficiency for small and medium-sized business (SMB) and… Read More

February 2, 2024 @ 7:43 am By Omar Faridi  |  

The “explosion” of generative AI [artificial intelligence] saves the AI sector from the worst of the venture drought, according to an update from CBInsights. The CBInsights team notes that although AI venture activity slowed down in 2023, the sector — and particularly, generative AI —… Read More