Fintechs ramp up lobbying over earned wage access, crypto, AI “Neobank Chime spent $1.05 million, nearly matching its total for 2022. PayPal spent more than $800,000, higher than the same time period during every prior year. And Block, which spent just under $1 million, hit its biggest six-month lobbying expenditure to date.” Read more >> AI in banking:…
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An AI System Built for Everything is an AI Built for Nothing
“Perhaps the biggest challenge for financial services in leveraging AI will be “Shadow AI.” Like its predecessor, Shadow IT, employees already use their generic AI tool to answer questions, create documents, and serve customers. Unfortunately, these tools are not built for financial services alone and require significant fine-tuning and oversight to ensure that accurate information…
Tom’s Guide Awards 2024: The best AI tools and devices we tested this year
“A handful of companies in this space stand out from the crowd, often offering unexpectedly impressive features, a strong community system, or advanced capabilities not available anywhere else and these are our favorites.”
Top 4 AI Banking Posts 7/21/24
Banks turn to Gen AI to protect customers from scams “Australian financial institutions are drawing on artificial intelligence to detect and repel increasingly sophisticated cyber hacking attempts. AI is being used to detect unusual behaviour and analyse millions of data points for suspicious activity. About 35 per cent of its incident response processes have been…
‘Godmother of A.I.’ Fei-Fei Li Has Created a $1B Startup in Less Than 4 Months
“Through her new company, Li is now working on creating spatial intelligence—a concept she delved into during an April TED Talk. ‘If we wantto advance A.I. beyond its current capabilities, we want more than A.I. that can see and talk. We want A.I. that can do,’ said Li during the talk. To illustrate the concept…