Binance partners with Amazon Web Services to enhance user experience

October 31, 2024 Coin Telegraph

Current Know Your Customer verification procedures are often cumbersome, costly, and time-consuming for industry service providers.

On Oct. 31, Binance revealed a partnership with Amazon Web Services (AWS) to leverage Amazon’s generative artificial intelligence to streamline the Know Your Customer (KYC) verification process and handle service requests on the Binance platform.

According to the announcement, the new KYC system auto-fills user information, performs proof-of-address checks, and makes screening against World-Check reviews more efficient.

Binance claims the new AI integration increased recognition rates for user data to 95%, reduced the costs for optical character recognition by 80%, increased proof-of-address approval rates across 107 jurisdictions by 6%, and decreased the time spent to screen against the World-Check KYC database by 30%.

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G7 antitrust watchdogs signal possible action on AI sector competition

October 7, 2024 Coin Telegraph

antitrust

The G7 nations want to ensure AI isn’t used to facilitate "collusion” between AI firms that could lead to the sharing of sensitive information or forming a monopoly.

G7 nations’ antitrust authorities have signaled they may take “vigorous” enforcement action to protect competition in the artificial intelligence sector to tackle risks before they become “entrenched or irreversible.”

The watchdogs said in an Oct. 4 communiqué after a two-day summit in Rome that they want to reduce the “competitive bottlenecks” that hinder new AI entrants compared to established firms, which often get first access to generative AI tools, data and specialized chips.

They added they want to ensure AI isn’t used to facilitate “collusion” between AI firms as it could lead to price controls, sharing competitively sensitive information — or creating a monopoly.

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Meta to Resume Training AI With Data From UK Facebook, Instagram Users

September 14, 2024 Bitcoin.com

AI training

Meta announced it will resume training its artificial intelligence (AI) models using U.K. adult user data to better reflect British culture. This follows a delay due to privacy concerns. Despite initial opposition, Meta has now engaged with U.K. regulators and is nearing the launch of its AI products in the U.K. The company clarified that […]

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San Fran city attorney sues sites that ‘undress’ women with AI

August 16, 2024 Coin Telegraph

Dek: AI-powered websites allowing users to create nonconsensual nude photos of women and girls were visited 200 million times in the first half of the year.

San Francisco’s City Attorney has filed a lawsuit against the owners of 16 websites that have allowed users to “nudify” women and young girls using AI.

The office of San Francisco City Attorney David Chiu on Aug. 15 said he was suing the owners of 16 of the “most-visited websites” that allow users to “undress” people in a photo to make “nonconsensual nude images of women and girls.”

A redacted version of the suit filed in the city’s Superior Court alleges the site owners include individuals and companies from Los Angeles, New Mexico, the United Kingdom and Estonia who have violated California and United States laws on deepfake porn, revenge porn and child sexual abuse material.

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Pan-African Tech Firm Cassava Technologies Launches AI Unit

August 5, 2024 Bitcoin.com

Artificial intelligence (AI)

Africa-focused technology and data services firm Cassava Technologies has created a separate business unit to oversee its artificial intelligence (AI) operations. The AI unit will offer data center, cloud, cybersecurity, fiber connectivity, and renewable energy services. Helping Clients Adopt Generative AI Pan-African technology firm Cassava Technologies is creating a separate business unit to focus on […]

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OpenAI’s current business model is ‘untenable’ — Report

August 3, 2024 Coin Telegraph

Coin Telegraph

Technology commentator Edward Zitron claims OpenAI will need to make several changes to "survive" beyond two years, but some industry executives disagree.

ChatGPT maker OpenAI's current business model is unsustainable because of its lack of clear path to profitability and its excessively spending, claims technology commentator Edward Zitron. However, several industry executives disagree.

“I ultimately believe that OpenAI in its current form is untenable,” Zitron declared in his most recent “Where’s Your Ed At?” newsletter. It follows recent reports that OpenAI could lose as much as $5 billion in 2024, putting the company at risk of running out of cash within 12 months.

Zitron asserted that for OpenAI to "survive" beyond 2026, it will need to secure more funding than any startup in the history has ever raised and keep raising it continuously.

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Study: AI Success in Africa Depends on Availability of Local Language Data and AI Talent

July 27, 2024 Bitcoin.com

Africa AI

According to the latest Global System for Mobile Communications (GSMA) study report, the success of artificial intelligence (AI) in Africa hinges largely on the availability of local language data and addressing the AI skills gap. The report urges African countries to prioritize investment in domain-specific and local language data. It also recommends adopting participatory approaches […]

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AI needs a killer app to prove it’s not a bubble — Goldman Sachs, MIT

June 30, 2024 Coin Telegraph

AI Bubble

Analysts were split over whether today’s AI investments would pay off in the next decade.

Analysts from Goldman Sachs and MIT recently took a deep dive into the generative artificial intelligence (AI) market to determine its short- and long-term viability for investors.

The question looming over their research was whether the current AI market represents an expanding bubble waiting to burst, or the “pickaxes and shovels” stage of the next frontier for technology and industry.

Unfortunately, according to the report, the answer isn’t so simple. The marketplace differences that occur when a bubble is about to burst — as seen when the dot-com bubble burst — and a killer application is about to turbocharge a technology — as seen when Satoshi Nakamoto et al. invented cryptocurrency — can be too subtle to see until it’s too late.

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American retailer Target to roll out AI chatbot in US stores by August

June 21, 2024 Coin Telegraph

AI Chatbot

The AI chatbot, Store Companion, will be used on handheld devices, providing staff members with immediate answers to any work-related questions they may have.

Retail giant Target Corporation is rolling out a new generative artificial intelligence tool to assist hundreds of thousands of staff across its nearly 2,000 stores across the United States.

The AI chatbot — called “Store Companion” is set to roll out by August, helping staff answer on-the-job process questions, coach new team members and support store operations, among other things, according to the company’s June 20 statement.

Target said the new generative AI-powered chatbot is “designed to make team members’ jobs easier and enhance the shopping experience.”

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Elon Musk to ban Apple devices if OpenAI is integrated with OS

June 11, 2024 Coin Telegraph

Apple Device

Musk called it an “unacceptable security violation” and even said the Apple block could extend to visitors to his company’s headquarters.

Billionaire Elon Musk has threatened to ban Apple devices at his companies should Apple integrate OpenAI’s ChatGPT into its iPhone, iPad and Mac operating systems.

“If Apple integrates OpenAI at the OS level, then Apple devices will be banned at my companies. That is an unacceptable security violation,” Musk stressed in a June 10 X post.

Musk even suggested that visitors to Tesla, SpaceX and other companies he runs would need to have their Apple devices “stored in a Faraday cage” upon entry.

generative ai