“That person is high school teacher Christoph Schuhmann, and LAION, short for “Large-scale AI Open Network,” is his passion project. When Schuhmann isn’t teaching physics and computer science to German teens, he works with a small team of volunteers building the world’s biggest free AI training data set, which has already been used in text-to-image…
Tag: AI
RBC Wins Best Use of AI for Customer Experience for NOMI Forecast
“Royal Bank of Canada (RBC) is proud to announce that its cutting-edge capability, NOMI Forecast, has been recognized for Best Use of AI for Customer Experience at the 2023 Digital Banker Digital CX Awards. NOMI Forecast provides clients with a quick seven-day view into their future cashflow, showing upcoming preauthorized payments from any RBC deposit…
Why Financial Institutions are Banking on AI
“As banks sift through volumes of data, AI can help them quickly discover patterns and identify key insights, calculate risk and automate routine tasks. Work performed by AI is done at extraordinary speed and scale with the added benefits of the technology being adaptable and essentially tireless. Executives have taken notice. While 89% of Directors…
Banking and financial services industry set to become largest investor in AI
“Banks and financial services companies are prioritizing and strengthening their investments in technology to increase speed, resiliency and drive cost efficiency. According to JLL’snew 2023 Banking and Finance Outlook, the current landscape is guiding financial services organizations to accelerate their digitalization efforts to combat challenges. These companies are anticipated to spend an additional $31 billion…
KPMG: US executives unprepared for immediate adoption of generative AI
“According to a recent survey conducted by KPMG US, nearly two-thirds (65%) of the 225 US executives surveyed in March 2023 believe that generative AI will have a high or extremely high impact on their organization in the next three to five years, surpassing other emerging technologies. However, despite these findings, nearly the same number…