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Should finance organizations bank on Generative AI?

CIO

As I work with financial services and banking organizations around the world, one thing is clear: AI and generative AI are hot topics of conversation. In the finance and banking industry, however, organizations are seeking extra guidance on the best way forward. In short, yes. But it’s an evolution. Regulatory compliance.

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Daily Crunch: Silicon Valley Bank goes bust — regulators take control of $175B+ in deposits

TechCrunch

Hi, Crunchers, Today, there’s only one story on everyone’s lips: The sudden and dramatic collapse of Silicon Valley Bank (SVB), the 40-year-old Silicon Valley institution. With $209 billion of assets under management at the time of its failure, it’s the second-largest bank failure in U.S. Say that three times fast.

Banking 246
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Varjo, an early mover in building XR headsets and software for enterprises, taps $40M

TechCrunch

Varjo describes the latter two as strategic: It’s not clear how the Swiss finance and banking giant is working with Varjo, but Foxconn is a potential manufacturing partner for its devices, CEO Timo Toikkanen said in an interview. “We are very fond of what we do at this size,” he said. Image Credits: Varjo.

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What chip shortage? MagicCube raises $15M to ‘replace all chips,’ starting with POS terminals

TechCrunch

Bold Capital, Epic Ventures, card-reader/POS hardware maker ID Tech and unnamed individual investors in the fintech space also participated in the financing, which brings the Santa Clara-based startup’s total funding raised to $30 million since its 2014 inception. MagicCube’s first application centers on software POS, or softPOS for short.

Hardware 240
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Super early-bird savings to TC Disrupt ending soon

TechCrunch

Sustainability stage: Urban mobility, sustainable tech, green infrastructure and new mobilities Fintech stage: DeFi, challenger banks, blockchain, NFTs and web3 AI stage: NLG (natural language generation), speech recognition, virtual agents, biometrics, RPA (robotic process automation), deep learning platforms, reactive machines and P2P Networks SaaS (..)

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Think you can ignore quantum computing? Think again.

CIO

But virtually all sectors should be concerned with personal identifiable information (PII) that needs to be protected indefinitely. In April 2022, the bank formalized their quantum technologies program with a dedicated research team of in-house PhD scientists to explore opportunities. “As

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Extra Crunch roundup: cohort analysis, YC Demo Day recaps, building your supply chain

TechCrunch

To compete with retail banks, many newcomers are offering customers credit and debit cards ; developer-friendly APIs make issuance relatively easy, and tools for managing processes like KYC are available off the shelf. Virtual events startups have high hopes for after the pandemic. Image Credits: Yuichiro Chino / Getty Images.

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