Tagged: generative ai

September 8, 2023 @ 12:55 pm By Tony Zerucha  |  

Temenos this week launched what it claims is an industry-first secure solution for banks using generative artificial intelligence to classify customers’ banking transactions automatically. Transactions classification helps banks provide personalized insights and recommendations, offer more engaging and intuitive digital banking experiences, and enhance customer loyalty through more… Read More

September 6, 2023 @ 9:34 am By Michael Wong  |  

Artificial intelligence (AI) technology provider Elemental Cognition (EC.ai), has announced raising $60 million in its Series B funding round, with notable participation from Bridgewater Associates, Breyer Capital, AME Cloud Ventures, Staged Ventures, and other individual investors. The investment will be utilized to accelerate the commercial… Read More

August 31, 2023 @ 6:41 pm By Michael Wong  |  

Artificial Intelligence (AI) and large language models (LLMs) company AI21 Labs has announced raising $155 million in Series C funding to fast-track the expansion of its “highly precised” text-based generative AI services for businesses. The Tel Aviv, Israel-based company said the funding round was backed… Read More

August 28, 2023 @ 8:30 am By Omar Faridi  |  

Research from Xero, the global small business platform, has revealed that 80% of small business owners are concerned AI development and adoption is “outpacing regulation, as generative AI tools permeate various industries and the workforce.” Xero’s Future Focus AI research “surveyed over 3,000 small business… Read More

August 15, 2023 @ 10:02 am By Omar Faridi  |  

Credit scoring is a statistical method employed by lenders to predict the probability an existing and/or prospective borrower or counterparty “will default on loans/credit products, or incur additional charges for repayment, also known as measuring creditworthiness,” the team at Juniper Research explains. Juniper Research also… Read More

August 2, 2023 @ 10:28 pm By Omar Faridi  |  

Already a key player in the Data & AI market, Capgemini says it is well positioned to support clients through their next era of digital transformation thanks “to the breadth of its generative AI services, deep industry expertise, and its industrialized delivery assets.” As a… Read More

July 11, 2023 @ 10:22 am By Omar Faridi  |  

Emirates NBD, a banking group in the MENA region and Turkey, has announced a transformation focused on harnessing the power of generative AI to change Emirates NBD’s operations and enhance productivity across various business functions supported by Microsoft. This collaboration aims “to unlock new opportunities… Read More

July 8, 2023 @ 9:02 am By Omar Faridi  |  

Singlife recently signed a Memorandum of Understanding with Microsoft (NASDAQ: MSFT) to support high-growth insurance startups to adopt generative artificial intelligence (AI). Singlife is the first financial services partner “to collaborate with Microsoft for the Startups Programme in ASEAN for budding insurtech startups to scale… Read More

July 5, 2023 @ 10:50 am By Omar Faridi  |  

VC activity ticked up in Q1 based on OpenAI’s unconventional corporate investment from Microsoft, according to an update from Pitchbook. Pitchbook has reportedly tracked $22.7 billion in investment during the quarter, “including $12.7 billion from generative AI investments including OpenAI.” If OpenAI’s deal is excluded,… Read More

June 28, 2023 @ 5:53 pm By Omar Faridi  |  

AI technology is rapidly evolving and its applications even faster. Ramp says they are dedicated “to pushing the frontiers of AI to help businesses save time and money,” using GPT to deliver price intelligence, expense management, and more. As stated by the company’s management, they… Read More

June 20, 2023 @ 3:19 pm By Omar Faridi  |  

Fujitsu and Mizuho Financial Group, Inc. launched joint verification trials using Fujitsu’s generative AI technology to streamline development and maintenance operations of Mizuho’s system. The trials will “take place between June 19, 2023 and March 31, 2024.” Generative AI technologies “offer enormous potential to transform the… Read More

May 28, 2023 @ 12:55 pm By Omar Faridi  |  

In response to the rapid emergence of new and powerful generative AI tools, on Thursday, UNESCO held the first global meeting of Ministers of Education “to explore the immediate as well as far-reaching opportunities, challenges and risks that AI applications pose to education systems.” Over… Read More

May 14, 2023 @ 1:27 pm By Omar Faridi  |  

Boost.ai, a conversational AI solution provider, today announced Version 12 of its platform, the first of a series of planned updates by the company to incorporate Large Language Model (LLM)-enriched features. This iteration is “focused on key customer experience (CX) improvements, including content suggestion, content… Read More

May 5, 2023 @ 2:51 pm By Omar Faridi  |  

Trovata, which claims to be the global “leader” in bank APIs and cash management, recently announced the first generative AI entrant in the fintech space. Trovata AI leverages OpenAI’s ChatGPT technology “to accelerate the company’s vision of automating cash workflows and business intelligence for corporate… Read More

February 7, 2023 @ 8:14 am By Omar Faridi  |  

GlossAi, creators of an AI-driven video generator that allows organizations to rapidly create multi-audience content at scale using generative AI capabilities, announced a successful $8 million seed round. Led by New Era Capital Partners with participation by Guidestar ventures, 97212 Ventures, MindCET Ventures, Ginossar Ventures,… Read More