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Silicon
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OpenAI Rebuffs $97.4 Billion Buyout Offer From Elon Musk Group
- A group of investors led by Elon Musk has made a $97.4 billion buyout offer to AI startup OpenAI.
- OpenAI's board of directors denied receiving a formal bid and rejected the offer.
- OpenAI's CEO, Sam Altman, publicly called Musk's offer 'ridiculous' and stated that the company is not for sale.
- Elon Musk's previous controversial takeover of Twitter has led to bad blood between Musk and Altman.
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Silicon
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US, UK Refuse To Sign AI Declaration
- The United States and United Kingdom did not sign an international AI declaration at the Paris AI Summit.
- This refusal hinders global efforts for a concerted approach to developing and regulating AI technology.
- The US Vice-President criticized Europe's 'excessive regulation' of technology and cautioned against cooperating with China.
- The UK government expressed that the AI declaration lacked practical clarity on global governance and didn't address national security concerns.
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Global Fintech Series
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Zelros and IBM Announce Collaboration to Transform Banking and Insurance with IBM watsonx
- Zelros and IBM have announced a collaboration to transform banking and insurance with IBM WatsonX.
- Zelros will leverage IBM WatsonX's portfolio of AI products to provide a flexible, high-performance AI platform for its clients.
- By integrating WatsonX, Zelros brings next-generation language models into its Studio, empowering insurers and banks with personalized advice and tailored insurance recommendations based on specific data.
- This collaboration aims to enhance customer engagement and operational efficiency in the insurance and banking sectors.
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Pymnts
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Sardine Raises $70 Million to Expand AI Risk Platform
- Sardine raised $70 million in a Series C funding round to expand its AI risk platform for fraud, compliance, and credit underwriting.
- The funding will accelerate Sardine's mission to rebuild trust in financial services by expanding enterprise capabilities, growing globally, and advancing their AI agent platform.
- Sardine uses device intelligence, behavior biometrics, and machine learning to stop fraud, streamline compliance, and unify data across risk teams.
- The company added four new AI agents to their platform, including a KYC onboarding agent, a sanctions screening agent, a merchant risk agent, and a disputes agent.
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Medium
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From Double to Triple Diamond. How AI is Redesigning the Design Process
- AI tools are revolutionizing the design process, from analyzing user interviews to generating logo variations.
- AI is currently used as a phase-specific tool in the Double Diamond design process, but not as a systemic partner.
- The future of design requires a third act, where human creativity meets computational power and ethical boundaries are set and enforced.
- Designers need to become 'AI editors' and ensure transparency in user interactions with AI.
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Pymnts
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Tines’ AI-Powered Automation Offering Valued at $1.1 Billion After $125 Million Fundraise
- Tines Security Service raises $125 million, valuing the company at $1.1 billion.
- The funding will be used to focus on research and development (R&D).
- Tines aims to leverage AI software to automate tasks in cybersecurity.
- The increased funding highlights the growing importance of AI in business processes.
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Medium
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430
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2025: The Dawn of Limitless Innovation
- Artificial intelligence (AI) is actively revolutionizing industries, optimizing processes, and driving sustainability.
- Industry 4.0 is reshaping manufacturing, logistics, and operations with AI, blockchain, IoT, and automation.
- Sustainability and climate investing are becoming crucial, with circular economies and climate change solutions as emerging investment opportunities.
- AI, telehealth, and personalized care are making healthcare more accessible and efficient, improving health outcomes.
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Pymnts
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Apple Reportedly Links With Alibaba for Chinese AI Rollout
- Apple is reportedly partnering with Alibaba to bring its artificial intelligence (AI) features to devices in China.
- Apple and Alibaba have submitted the AI features to China's cyberspace regulator.
- Testing various AI models from Chinese developers, Apple initially chose Baidu as its main partner, but later started considering other partners.
- Apple CEO Tim Cook mentioned on an earnings call that the availability of Apple Intelligence features resulted in stronger sales for iPhone 16 models in markets where the features were available.
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Nytimes
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Vance, in First Foreign Speech, Tells Europe That U.S. Will Dominate A.I.
- Vice President JD Vance spoke at an A.I. summit in Paris, declaring the Trump Administration's approach to dominate artificial intelligence.
- He emphasized that the U.S. will ensure the most powerful A.I. systems are built in America with American design and manufactured chips.
- Vance warned Europe to dismantle regulations and choose between using American technology or siding with authoritarian competitors such as China.
- His speech was seen as a warning shot and indicated the tone that the Trump Administration's national security leaders plan to take to Europe.
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Global Fintech Series
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How Financial Institutions Can Effectively Navigate the Implications of CECL
- The adoption of the Current Expected Credit Loss model (CECL), means financial institutions must proactively recognise potential credit losses.
- CECL also requires financial institutions to recognise an allowance for lifetime expected credit losses, ensuring a more proactive approach to credit risk management.
- The complex new landscape could significantly impact loan portfolios, regulatory compliance and long-term strategies.
- CECL aims to reduce the number of credit impairment models used for debt instruments, enabling the timely recognition of credit losses.
- The CECL model represents a significant change in accounting regulation that directly impacts the financial statements of institutions.
- Financial institutions are still grappling with the need to allocate more capital to cover potential credit losses.
- As the implementation of CECL continues to hit institutions hard, there is growing interest in how innovative technologies and payment protection solutions could ease financial strain.
- One effective approach that many institutions are starting to embrace is the implementation of an embedded payment protection strategy.
- This type of strategy could help reduce the number of loan delinquencies and defaults, helping institutions stay compliant with CECL's more stringent requirements.
- The combination of payment protection solutions with a robust framework for managing credit losses could significantly enhance the ability of financial institutions to comply with CECL.
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Medium
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Book Review: Fall in Love with the Problem, Not the Solution
- A Great Architecture Can’t Save a Bad Product — No matter how well-designed your system is, if it’s solving the wrong problem, it won’t matter.
- Don’t Let Technology Dictate the Strategy — Architects often get excited about new frameworks, cloud platforms, or AI models, but Levine reminds us that technology should serve the problem, not the other way around.
- A Cautionary Tale for Architects at the Wrong Companies — Many companies get enamored with their solution or core technology and ignore user needs.
- Resilience Over Perfection — Software architects must design for adaptability, not just ideal conditions-because businesses (and their problems) constantly evolve.
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Silicon
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OpenAI ‘Finalising Design’ For In-House AI Chip
- OpenAI is finalising the design for its first in-house AI accelerator chip and plans to send it to Taiwan’s TSMC for an initial fabrication run.
- The aim is to diversify away from dependence on Nvidia’s GPUs, while also gaining negotiating leverage with other chip suppliers.
- The chip is intended for running AI models (inference) and is part of OpenAI's plan to add broader capabilities in the future.
- OpenAI is also planning to deploy AI chips from AMD alongside Nvidia and its own chips.
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Silicon
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DeepSeek Ends Promotional API Pricing Amidst Demand Surge
- Chinese AI start-up DeepSeek has ended promotional pricing for API access to its V3 large language model due to surge in demand.
- The new pricing for DeepSeek-chat, powered by V3, is $0.27 per million token inputs and $1.1 per million outputs.
- DeepSeek faced server resource constraints and temporarily stopped allowing developers to top up their accounts for API access.
- DeepSeek's chatbot has gained popularity, surpassing OpenAI's ChatGPT with 21 million active users in three weeks.
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Silicon
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Researchers Deliver High-Performance AI Model For Under $50
- US researchers have developed a high-performing AI model at a low cost.
- The S1 reasoning model, trained for under $50, outperformed an OpenAI model on certain tasks.
- The model was developed using the open-source technology from Alibaba Group.
- The researchers' approach, called 'test-time scaling', helps the AI model refine and improve its answers.
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Silicon
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International Tensions Surface At Paris AI Summit
- A representative of China stressed the importance of collaboration on AI at the Paris AI Action Summit.
- Tensions between the US and China were said to impede the ability to develop AI safely.
- A Chinese AI Development and Safety Network was established to manage risks surrounding AI.
- AI pioneers debated the risks of AI development, including the potential dangers of AI agents.
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