Archive for the ‘finance’ category: Page 7

Feb 3, 2024

Mastercard’s new anti-fraud AI has a success rate of up to 300%

Posted by in categories: business, finance, information science, robotics/AI

Mastercard has announced that it has developed an in-house generative AI to help combat fraud on its payment processing network.

Instead of relying on textual inputs, Mastercard’s algorithm uses a cardholder’s merchant visit history as a prompt to determine whether a transaction involves a business that the customer would likely visit. The algorithm generates pathways through Mastercard’s network, akin to heat-sensing radar, to provide a score as an answer.

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Jan 31, 2024

25 Percent of CEOs Plan to Replace Human Workers With AI This Year

Posted by in categories: finance, robotics/AI

Global decision-makers and the world’s leading financial body predict that artificial intelligence will result in dramatic job losses in 2024 and beyond.

During the annual meeting of the World Economic Forum in Davos, Switzerland, a survey of CEOs revealed that a quarter intend to cut their headcounts by at least five percent “due to generative AI,” per a press release from PwC, the firm that conducted it.

Translation: 25 percent of CEOs are aiming to replace human workers with AI because they think it’ll be cheaper. Vive la future!

Jan 31, 2024

Quindar raises $6 million for automation of satellite constellation operations

Posted by in categories: finance, robotics/AI, satellites

WASHINGTON — Quindar has raised an additional $6 million to further development of software to automate operations of satellite constellations.

The company announced Jan. 30 that it closed $6 million in funding as an extension to a $2.5 million seed round it announced a year ago. Venture capital firm Fuse led the round with participation from existing investors Y Combinator and Founders Fund.

Quindar has developed software designed to automate satellite operations. The company says it has validated that system with an unnamed customer who is using it to manage a growing fleet of spacecraft.

Jan 28, 2024

Enabling distributed quantum sensors for simultaneous measurements in distant places

Posted by in categories: finance, quantum physics, security

A research team has succeeded in implementing a distributed quantum sensor that can measure multiple spatially distributed physical quantities with high precision beyond the standard quantum limit with few resources. Their findings are published in the journal Nature Communications.

Sharing the exact time between distant locations is becoming increasingly important in all areas of our lives, including finance, telecommunications, security, and other fields that require improved accuracy and precision in sending and receiving data.

Quantum phenomena such as superposition and entanglement can be used to more precisely measure the time of different clocks in two distant spaces. Similarly, if you have two physical quantities, one in Seoul and one in Busan, you can share the entanglement state in Seoul and Busan and then measure the two physical quantities simultaneously with greater precision than if you measure the physical quantities in Seoul and Busan separately.

Jan 27, 2024

The headset wars: Why it’s Apple’s to lose

Posted by in categories: business, finance, virtual reality

Two tech titans are now duking it out in the headset wars. Apple’s Vision Pro and Meta’s Quests offer different price points, different specs, and most importantly, different visions of the future of virtual reality. And both have big hurdles to clear. This week on TechCheck, why the headset battle is Apple’s to lose.

0:00 – Who will win the headset wars?
0:42 – The case for Apple.
5:35 – The case for Meta.
7:56 – The case for both… or neither.

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Jan 27, 2024

Could AI Start Nuclear War?

Posted by in categories: biotech/medical, existential risks, finance, robotics/AI

Authored by James Rickards via,

I’ve covered a wide variety of potential crises over the years.

These include natural disasters, pandemics, social unrest and financial collapse. That’s a daunting list.

Jan 25, 2024

Chemists use blockchain to simulate more than 4 billion chemical reactions essential to origins of life

Posted by in categories: blockchains, chemistry, cryptocurrencies, finance, mathematics, supercomputing

Cryptocurrency is usually “mined” through the blockchain by asking a computer to perform a complicated mathematical problem in exchange for tokens of cryptocurrency. But in research appearing in the journal Chem a team of chemists has repurposed this process, asking computers to instead generate the largest network ever created of chemical reactions which may have given rise to prebiotic molecules on early Earth.

This work indicates that at least some primitive forms of metabolism might have emerged without the involvement of enzymes, and it shows the potential to use blockchain to solve problems outside the financial sector that would otherwise require the use of expensive, hard to access supercomputers.

“At this point we can say we exhaustively looked for every possible combination of chemical reactivity that scientists believe to had been operative on primitive Earth,” says senior author Bartosz A. Grzybowski of the Korea Institute for Basic Science and the Polish Academy of Sciences.

Jan 24, 2024

Singapore Financial Data Startup Raises $6.5 Million Series A To Double Down On AI

Posted by in categories: finance, robotics/AI

Bluesheets, an AI-powered financial data startup based in Singapore, announced Tuesday it raised $6.5 million in a Series A funding round led by fintech-focused VC Illuminate Financial, bringing the four-year-old startup’s total funding to $12.5 million.

Participating in the round were returning investors Insignia Ventures Partners, Antler Elevate–the emerging growth fund of VC firm Antler–and 1982 Ventures. The Series A values the startup at $30 million.

“A lot of organizations are trying to implement [AI] applications, but are struggling quite a lot,” says Luca Zorzino, general partner and head of Asia at Illuminate Financial, in a video interview. “What we liked about Bluesheets is that not only have they implemented AI themselves, but they can actually form the foundational layer for more AI adoption in financial services.”

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Jan 23, 2024

Brain-based computing chips not just for AI anymore

Posted by in categories: biotech/medical, finance, mathematics, robotics/AI

With the insertion of a little math, Sandia National Laboratories researchers have shown that neuromorphic computers, which synthetically replicate the brain’s logic, can solve more complex problems than those posed by artificial intelligence and may even earn a place in high-performance computing.

The findings, detailed in a recent article in the journal Nature Electronics, show that neuromorphic simulations employing the statistical method called random walks can track X-rays passing through bone and soft tissue, disease passing through a population, information flowing through social networks and the movements of financial markets, among other uses, said Sandia theoretical neuroscientist and lead researcher James Bradley Aimone.

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Jan 22, 2024

Thomvest Ventures closes $250M fund to invest across fintech, cybersecurity, AI

Posted by in categories: cybercrime/malcode, finance, robotics/AI

Thomvest Ventures is popping into 2024 with a new $250 million fund and the promotion of Umesh Padval and Nima Wedlake to the role of managing directors.

The Bay Area venture capital firm was started about 25 years ago by Peter Thomson, whose family is the majority owners of Thomson Reuters.

“Peter has always had a very strong interest in technology and what technology would do in terms of shaping society and the future,” Don Butler, Thomvest Ventures’ managing director, told TechCrunch. He met Thomson in 1999 and joined the firm in 2000.

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