Lifeboat Foundation

The regulatory crackdown that has shaken up China’s fintech industry since late 2020 appears to be coming to a close with the imposition of hefty fines on the country’s two digital payments giants.

Tencent, along with its payments subsidiary Tenpay, has been fined approximately 2.99 billion yuan ($410 million) by the People’s Bank of China for “its past regulatory breaches in relation to the provision of payment services in the mainland of China,” the company said in a filing on Friday.

On the same day, the central bank announced it will slap a 7.123 billion yuan (roughly $1 billion) fine on Ant Group, the fintech affiliate of Alibaba, for a range of illegal activities, including those concerning corporate governance, consumer protection, banking and insurance, payments and settlement, anti-money laundering practices and fund sales.

Harsh Kumar, Piper Sandler managing director, joins CNBC’s ‘Power Lunch’ to discuss why he believes not all chipmakers take a direct hit from China’s curb on the rare metals used in semiconductors and more. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi.

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Continue reading “China’s metal export restrictions: Implications for chipmaker companies” »

All of us are at the beginning of a journey to understand generative AI’s power, reach, and capabilities. This research is the latest in our efforts to assess the impact of this new era of AI. It suggests that generative AI is poised to transform roles and boost performance across functions such as sales and marketing, customer operations, and software development. In the process, it could unlock trillions of dollars in value across sectors from banking to life sciences. The following sections share our initial findings.

For the full version of this report, download the PDF.

Generative AI’s impact on productivity could add trillions of dollars in value to the global economy. Our latest research estimates that generative AI could add the equivalent of $2.6 trillion to $4.4 trillion annually across the 63 use cases we analyzed—by comparison, the United Kingdom’s entire GDP in 2021 was $3.1 trillion. This would increase the impact of all artificial intelligence by 15 to 40 percent. This estimate would roughly double if we include the impact of embedding generative AI into software that is currently used for other tasks beyond those use cases.

New research from the University of Montana and its partners suggests artificial intelligence can match the top 1% of human thinkers on a standard test for creativity.

The study was directed by Dr. Erik Guzik, an assistant clinical professor in UM’s College of Business. He and his partners used the Torrance Tests of Creative Thinking, a well-known tool used for decades to assess human creativity.

The researchers submitted eight responses generated by ChatGPT, the application powered by the GPT-4 artificial intelligence engine. They also submitted answers from a control group of 24 UM students taking Guzik’s entrepreneurship and personal finance classes. These scores were compared with 2,700 college students nationally who took the TTCT in 2016. All submissions were scored by Scholastic Testing Service, which didn’t know AI was involved.

Presenting its findings as “Unlocking the future of computing” Microsoft is edging ever closer to photon computing technology with the Analog Iterative Machine (AIM). Right now, the light-based machine is being licensed for use in financial institutions, to help navigate the endlessly complex data flowing through them.

According to the Microsoft Research Blog, “Microsoft researchers have been developing a new kind of analog optical computer that uses photons and electrons to process continuous value data, unlike today’s digital computers that use transistors to crunch through binary data” (via Hardware Info).

PORTSMOUTH, Va. (WAVY) – Artificial intelligence is already revolutionizing society – from healthcare and education to cybersecurity and even our courts. Despite all of its benefits, it has also given criminals an edge when it comes to deceiving us.

Financial sextortion is a crime in which a bad actor attempts to leverage personal material (think: naked pictures or videos) to force a victim into giving into their demands — usually money or other compromising material.

Elon Musk Announces 5 NEW Teslas For 2023:- Tesla company has achieved remarkable growth in recent years with just four vehicles in its lineup: the Model S midsize sedan, Model X midsize crossover, Model 3 compact sedan and Model Y compact crossover.

Combined, those four nameplates now dominate the U.S. luxury car segment and top the EV charts. Tesla is the second-best-selling brand after Toyota in California, which often sets future-product trends for the nation. But Tesla fans are clamoring for more. And financial analysts watching Tesla stock warn of growing competition.

Continue reading “Elon Musk Announces 5 NEW Teslas For 2023” »

The finance automation platform Ramp has acquired Cohere.io, an AI-powered customer support platform. The acquisition marks Ramp’s first foray into the world of generative AI, which is a sign of the growing importance of this technology in the finance industry. This is also a significant milestone for Ramp, as it is the company’s second acquisition since its inception in 2019 and the first since it purchased Buyer, a “negotiation-as-a-service” platform, in August of 2021.

Ramp is a technology business that specializes in corporate credit cards and cost management in the financial technology (fintech) sector. The company was founded in 2019 by Eric Glyman, Gene Lee, and Karim Atiyeh and is… More.

In addition to improving the quality of customer support, generative AI is also likely to lead to new innovations in customer support. For example, generative AI could be used to create chatbots that are capable of having natural conversations with customers. This could help businesses provide customer support 24/7 while reducing the cost of support.

Continue reading “Ramp’s Acquisition Of Cohere.io Signals The Rise Of Generative AI In Customer Support” »

Using ChatGPT can put you on the path to becoming a millionaire, according to a YouTube video from personal finance expert Jaspreet Singh.