MIT researchers’ new artificial intelligence risk database could prompt companies to overhaul their AI strategies, potentially slowing adoption but enhancing safety in an era of rapid AI proliferation. The comprehensive “AI Risk Repository,” developed by Massachusetts Institute of Technology’s FutureTech Group, catalogs 777 potential AI...
For banks, the chatbot is a tool that’s being retooled, a work in progress. The progress is being hastened by artificial intelligence (AI), where the digital customer assistants are used, and have long been used, to help consumers access a variety of data and transaction...
Lawmakers on both sides of the Atlantic are racing to establish artificial intelligence (AI) regulations, with California poised to vote on strict AI oversight as the U.S. Congress considers a “regulatory sandbox” for financial services. Meanwhile, the European Union’s AI Act is set to transform...
Artificial intelligence company Anthropic has debuted a new feature for its large language models (LLMs) aimed at reducing costs and improving performance for businesses using its AI. The company’s “Prompt Caching” capability, announced Wednesday (Aug. 14), will be available in public beta on the Anthropic...
This year has seen three fledgling AI firms swallowed up by Big Tech companies. As the Financial Times (FT) notes in a report Wednesday (Aug. 14), it is a pattern that threatens to leave venture capitalists (VCs) on the outside looking in at the artificial intelligence (AI)...
Amazon and OpenAI are betting big on multimodal artificial intelligence (AI), a technology that could redefine how consumers shop and interact with businesses. Multimodal AI, an advanced form of AI capable of processing and integrating information from various sources, such as visual, auditory and textual...
In a move that could force businesses to overhaul their automated customer outreach, the Federal Communications Commission (FCC) has proposed new rules requiring companies to disclose when they use artificial intelligence (AI) to generate robocalls and texts, potentially reshaping the landscape of customer interactions and...
The Consumer Financial Protection Bureau (CFPB) has staked out a clear position on using artificial intelligence (AI) in financial services: There are no exceptions to existing consumer protection laws for new technologies. In am Aug. 12 comment letter to Treasury Secretary Janet Yellen, the CFPB...
The potential for artificial intelligence (AI) humanoid robots in factories and stores is sparking debate among experts on the future of work and commerce. While companies explore humanoid robots for tasks from assembly to customer service, opinions vary widely on their adoption rate and implications....
