Changes in the White House and Congress could portend revisions to taxes, regulations and policies that may affect tech and investing in Silicon Valley and beyond.Read More
Introduction to the role of Human-centered Design (HCD) in the development of AI-driven services. The design field has spread across several domains and Artificial Intelligence (AI) and Machine Learning (ML) will not be an exception.Read More
There is little doubt that COVID-19 has been the single most influential driver of our lives and livelihoods in 2020. The impact of the pandemic however has been very mixed for certain groups of society, certain industry sectors, certain companies and for certain technologies. Three key themes emerge around PwC’s Global Responsible AI survey, of over 1,000 C-level executives, conducted in November 2019.Read More
The response from COVID-19’s gradual recovery will be top of mind for nearly every firm and industry in 2021. Some businesses may become stagnant or never recover. Others will view the shakeup as an unprecedented opportunity to understand and improve their data and analytical assets, operationalize and update their model production process, and reassure customers that their AI can be trusted.Read More
It’s needless to say we are living in the digital era. Nowadays our life is not as difficult as it was before the age of technological advancements. We can connect to the world in seconds. Social media and the Internet helps us a lot. All social media and messaging platforms are free. But nothing is truly free. If you are not paying for it, you’re not the customer; you’re the product being sold.Read More
Moving averages are a great way to provide support and resistance levels among other uses. There are many types of moving averages and in this article, we will discuss the Triangular Moving Average and some strategies revolving around it. For more on other types of moving averages, feel free to check the below article…Read More
Technologies like artificial intelligence and human genome editing “reveal and reflect even more about the complex and sometimes dangerous social architecture that lies beneath the scientific progress that we pursue,” said Dr. Alondra Nelson today as part of the introduction of the Biden administration science team. On Friday, the Biden transition team appointed Nelson to the position of OSTP deputy director for science and society. Biden will be sworn in Wednesday to officially become the 46th president of the United States.Read More
The mind tries to understand the world in terms of concepts, most of which are dressed in language and in some cases, in mathematics. But our conceptual understanding of the world suffers from a chicken-and-egg problem: where do the concepts in which this understanding is modeled come from in the first place? How can you build a new theory with old terminology and make sure that it doesn’t suffer from the implicit assumptions inherent in the terminology?Read More
Is it time yet we thought of a “red safety button” in the event AI gets out of control? Or should we respond to our fear of an algorithmic armageddon more constructively by designing human-friendly AI?Read More
Researchers at Facebook and New York University (NYU) claim to have developed three machine learning models that could help doctors predict how a COVID-19 patient’s condition might develop. The open-sourced models, all of which require no more than a sequence of X-rays, ostensibly predict patient deterioration up to four days in advance and the amount of supplemental oxygen (if any) a patient might need.Read More
New year, new voice AI solutions? Well, why not? Artificial intelligence doesn’t laze around and constantly influences all of its fields of expertise. Although voice technologies are quite fresh, they found their own place on the market and have a continuous impact on developing various industry branches. Maybe they still haven’t launched like a rocket, but the path is being paved in front of our eyes. Here are some of the most realistic forecasts for 2021.Read More
Harness, an automated CI/CD platform for engineering and DevOps teams, has raised $115 million at a $1.7 billion valuation.Read More
Sana Labs, a Stockholm-based online training platform, raised $18 million (approx £13.1 million) in a Series A round led by EQT Ventures. The funding round brings the total amount raised to $23 million (approx £17 million). The new funding will be used to invest more in technology R&D, sales-focused marketing, and people to make this happen.Read More
As I have been studying forecasting time series analysis… I endeavored to use the code that I already have and was able to forecast the values using Facebook Prophet and also statsmodels. The dataset I used was the temperatures in Melbourne, Australia from 1981 to 1990.Read More
Being a student secretary of the Fire and Security Association of India at my college, I have conducted various surveys and workshops on methodologies to avert the dangers caused due to fire. As an AI enthusiast, I have always aspired to come with innovative solutions to tackle such issues. My experience in the fire and safety domain with competence in building AI solutions motivated me to think of possible solutions to tackle problems faced by the fire department.Read More
Machine learning was among the fastest growing technologies in terms of U.S. patent grants during 2020, an annual survey reveals. AI and machine learning ranked fourth in a list of patent applications and awards, followed closely by advances in quantum computing.Read More
To drive American leadership in the field of AI into the future, the National Artificial Intelligence Initiative Office has been launched by the White House Office of Science and Technology Policy (OSTP). The new agency was established under the American Artificial Intelligence Initiative Act of 2020, which was enacted and codified into law to expand many existing AI policies and initiatives throughout the federal government.Read More
Nayya, an insurance benefits management platform, today announced it has closed $11 million in a series A round led by Felicis Ventures. Nayya says the funds will be put toward product research and development as it seeks to acquire new talent and customers.Read More
Molecula, which is developing a cloud-based feature store for AI and machine learning workloads, today announced it has raised $17.6 million. The company says the proceeds will be put toward accelerating the launch of its managed cloud service and bolstering its sales and marketing efforts.Read More
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Rapyd, which is developing an all-in-one payments solutions platform, today announced it has raised $300 million, bringing the company’s total raised to over $450 million. CEO Arik Shtilman said the funds will be used to double the size of Rapyd’s engineering and product teams and explore acquisitions globally.
Virtual card spend is projected to grow to $355 billion by 2022, up from $136 billion in 2017, according to Accenture. With annual transaction volumes anticipated to surpass $9 trillion, businesses are increasingly investigating unified payment solutions.
Rapyd offers solutions on the web and mobile, including the ability to accept cash, bank transfers, e-wallets, local debit cards, and over 900 alternative payment methods in more than 100 regions. The platform supports disbursements in over 170 countries and multicurrency settlement to a single file across 65 currencies. Moreover, it delivers real-time foreign exchange, ID verification via document scanning, and anti-money laundering and counter financing terrorism (AML/CFT) services.
Rapyd offers an API, a software development kit that integrates with existing apps, and responsive designs for merchant checkout flows. The checkout solution can stand alone or coexist with gateways and local payment systems, while Rapyd’s white-label wallet platform ships with features targeting retail shops and rewards programs.
Rapyd competes with a number of well-established companies in a financial tech sector estimated at $147.37 billion as of year-end 2018, including Ayden, PayPal, and Stripe. But Rapyd hit around $100 million in revenue last year at a pre-money valuation of $1.2 billion, driven by the fees it levies on payments and multicurrency transactions (3.5% plus 30 cents for funds in and $1.50 plus 1% for exchanges).
Over the past year, Rapyd has expanded its network with new and existing products for Thailand, South Korea, Mexico, India, Brazil, and the U.K. It also acquired Iceland-based payment card service provider Korta, inked agreements with Visa and Mastercard, launched an anti-fraud service called Rapyd Protect, and partnered with payments technology company InComm to support cash bill pay and load solutions at participating retailers in the U.S.
“The demand for online payments has skyrocketed following the restrictions due to the effects of COVID-19, and as a company, we are well-placed to provide businesses across the globe with the solutions they need and to get them up and running fast,” Shtilman said in a statement. “To kick off 2021 with this substantial round of funding to further invest in our platform is a tremendous vote of confidence both in the growing need for local payment solutions that can be deployed at scale globally, and more specifically in our vision and company.”
Coatue led the series D funding round announced today, with participation from Spark Capital, Avid Ventures, FJ Labs, and Latitude. Current backers General Catalyst, Oak HC/FT, Tiger Global, Target Global, Durable Capital, Tal Capital, and Entrée Capital also contributed. Rapyd has offices in London and Mountain View, California.
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