The landscape of payments fraud is undergoing a shift as traditional detection methods become increasingly inadequate against sophisticated fraud schemes. Conventional rules-based systems, relying on static rules and predefined patterns, are falling short in adapting to the dynamic tactics of modern fraudsters. Enter generative artificial...
Zest AI unveiled a tool to identify fraudulent activity during the loan decisioning process. Zest Project is designed to use artificial intelligence to respond to the 69% increase in fraud cases — per the Federal Trade Commission — witnessed by community banks and credit unions...
Wendy’s Quality Supply Chain Co-op (QSCC), a purchasing cooperative that services more than 6,400 Wendy’s restaurants in the United States and Canada, teamed with Palantir Technologies to accelerate its digital transformation and adoption of artificial intelligence. Via the partnership, Palantir, a provider of AI systems,...
The European Union’s AI Act came into force Thursday (Aug. 1), establishing the world’s first comprehensive regulatory framework for artificial intelligence and setting new compliance standards for businesses worldwide. The EU adopted the rules earlier this year after negotiations that gained urgency following the 2022...
Nvidia announced this week a suite of new services and tools aimed at speeding up the development of humanoid robots as the company seeks to position itself at the forefront of this emerging technology. The chipmaker introduced new microservices for robot simulation, a cloud computing...
Artificial intelligence is making waves across the medical field, with new studies showing promise in predicting eye treatment complications, analyzing heart MRIs, and even designing RNA-based drugs. While specialized healthcare AI models demonstrate potential, research also cautions against relying on general-purpose AI chatbots for clinical...
Artificial intelligence software company C3 AI has a new application designed for government agencies. C3 Generative AI for Government Programs uses generative AI to help federal, state and local governments inform the public about a variety of programs, according to a Monday (July 15) press...
Amazon’s generative artificial intelligence-powered conversational shopping assistant, Rufus, is now available to all U.S. customers in the Amazon Shopping app. Introduced in February, Rufus answers questions on various shopping needs and products, the company said in a Friday (July 12) press release. “Since introducing Rufus,...
The pristine lawns of Wimbledon are now home to more than just world-class tennis. This year, the All England Lawn Tennis Club deployed a new ally in its fight against online harassment: artificial intelligence. The move mirrors a broader trend across industries as organizations grapple...
