November 1, 2024

Lag in adoption of artificial intelligence (AI) leaves Asian financial institutions vulnerable to rising financial crime, new study finds SymphonyAI And Asian regulations revealed Tuesday. According to the study, existing systems, data quality, explanatory power of models, data privacy and regulatory uncertainty hinder the adoption of AI in financial crime compliance. Only 15% of Asian

November 1, 2024

Brightwave, a leading AI financial research platform, announced the closing of a $15 million Series A funding round, led by Decibel Partners and with participation from OMERS Ventures. This funding round brings Brightwave's total funding to $21 million following an oversubscribed funding round in June. Brightwave also achieved four times revenue growth in the four

October 31, 2024

Big tech profits are weighing on major indexes. Members of the Microsoft “Magnificent Seven” (MSFT) and metaplatforms (META) both reported better-than-expected quarterly profits, but the amount these companies are spending to develop their AI offerings is making some investors nervous. One stock that fell early in the session was Uber Technologies (UBER). Its third-quarter revenue

October 31, 2024

From left, John Beaman, CFO of Adventist Health, and Robert Broermann, CFO of Sentara. Photos: Courtesy of Adventist Health and Sentara, respectively. The CFOs of two of the nation's largest nonprofit health systems were asked about their financial strategies as generative AI becomes the next big thing with the launch of ChatGPT in 2022. Robert

October 31, 2024

Brightwave Inc.creator of an artificial intelligence-powered financial research platform for investment banks, hedge fund managers and other financial professionals, today announced that it has closed a seed funding round of 15 million dollars. Today's Series A round was led by Decibel Partners and saw participation from Omers Ventures, bringing the total amount raised to date

October 31, 2024

By Mr. Pawan Yadav The financial sector is experiencing significant disruption, taking advantage of new technologies such as artificial intelligence (AI). The integration of AI in finance is nothing short of a revolutionary approach as it changes the way financial institutions (FIs) and banks operate. Additionally, the implementation of AI in banking applications has propelled

October 31, 2024

ASIC has released its inaugural report into the use and adoption of AI by financial services and credit licensees. The report highlights the urgent need for strong governance frameworks to keep pace with the rapid integration of AI technologies. This need arises from findings showing that a majority of licensees plan to increase their use

October 30, 2024

Stay informed with free updates Simply register at Artificial intelligence myFT Digest – delivered straight to your inbox. Data center startup Crusoe Energy raises up to $500 million in equity capital from investors including Peter Thiel's Founders Fund to expand facilities that provide the infrastructure fueling the data center boom AI. The fundraising will value

October 30, 2024

The Hong Kong Special Administrative Region (HKSAR) government on Monday issued a policy statement outlining its position and guidelines for the responsible application of artificial intelligence (AI) in the financial market, aiming to promote the use of AI in finance, according to the official website of the Hong Kong government. Analysts said such efforts would

October 30, 2024

Photo: Courtesy of Geisinger Medical Center Geisinger partners on AI platform to better manage operating room time and staff. Partner Optmed.ai's AI platform analyzes billions of logistics data points to manage operating room workflow. This allows more clinical procedures to be performed, which increases revenue. It is used on all 10 Geisinger hospital campuses. WHY

October 30, 2024

An overwhelming 91% of companies in the financial services industry (FSI) are evaluating artificial intelligence or already have it up their sleeves as a tool that drives innovation, improves operational efficiency and enhances customer experience. Generative AI — powered by NVIDIA NIMs microservices and accelerated computing — can help organizations improve their portfolio optimization, fraud

October 29, 2024

Sapien, a platform for creating “autonomous collaborators” for finance professionals, was officially launched on Tuesday. The founders announced an $8.7 million seed fund for the startup, which touts its ability to use AI to delve into company finances and tackle complex workflows that last several days in just a few minutes. Sapien likens its tools