PayPal’s new ‘super app’ is ready to launch, will also include messaging

PayPal

PayPal’s plan to morph itself into a “super app” have been given a go for launch. According to PayPal CEO Dan Schulman, speaking to investors during this week’s second-quarter earnings, the initial version of PayPal’s new consumer digital wallet app is now “code complete” and the company is preparing to slowly ramp up. Over the next several months, PayPal expects to be fully ramped in the U.S., with new payment services, financial services, commerce and shopping tools arriving every quarter.

Read More

Blossom Capital lures Alex Lim from Silicon Valley to join the European tech boom

Alex Lim

Alex Lim, a British-born VC based in the Bay Area who invested in Hopin, UiPath, Discord, and many other unicorns has decided to up sticks and leave Sand Hill Road behind for Blossom Capital in London. Blossom is fast making a name for itself both in Europe and internationally, having invested in breakout hits like Tines, Duffel, and Checkout.com.

Read More

Aspect based sentiment analysis on financial news data using classical machine learning algorithms

Sentiment analysis is a very popular technique in Natural Language Processing. We can see it applied to get the polarity of social network posts, movie reviews, or even books. However basic sentiment analysis can be limited, as we lack precision in the evoked subject. Let’s take the example of reviews for a computer: how do we know what is good/bad ? Is it the keyboard, the screen, the processor?

Read More

81% of employees say AI improves their job performance and they want more

Group of People Standing

New research published by SnapLogic, provider of the Intelligent Integration Platform, has found that 81% of employees believe Artificial Intelligence (AI) improves their overall performance at work. As a result, more than two-thirds (68%) are calling on their employers to deploy more AI-based technology to help them execute their daily work better and faster.
According to IDC, global spending on AI technologies reached $50.1 billion in 2020, a figure that is expected to double in the next four years. So it’s no surprise that AI is transforming the workplace as a result. But while employees were initially skeptical of this technology, new data suggests perception is shifting. This new study, conducted across the US and UK, sought to understand how workers across various lines of business – from HR to Finance to Marketing, and more – feel about working with AI technologies today.

Recommended AI News: Etherlite Is Giving ETL Tokens to Every ETH Wallet Holder; Biggest Airdrop Ever
Currently, more than half (56%) of office workers say they are using AI as a part of their daily job responsibilities. The research indicates that the potential for AI’s impact is much broader, however, as 89% believe AI could support them in up to half of their everyday work activities.
Where do employees believe AI can assist them the most? The top three tasks identified all involved moving, accessing, or analyzing data. These were, in order: understanding data and how trends and patterns can aid decision making; moving data from one place to another; and accessing data residing in different places across the business.
When asked about the benefits of AI in the workplace, 61% said it helped them have a more efficient and productive work day. Additionally, almost half (49%) felt that it improved their decision-making and accelerated time-to-insights. What’s more, just over half (51%) believe that AI in the workplace helps them achieve a better work/life balance due to the aforementioned productivity boost.
Recommended AI News: Google Cloud Region Goes Live in Delhi NCR in India
“In recent years, there was concern among office workers that AI would drive job losses, but employee opinions seem to have changed. The more they’ve been exposed to AI and see it in action, the more they’ve realized how much it can assist them with their daily work,” said Craig Stewart, CTO at SnapLogic. “As AI is increasingly used to make better decisions and rack up productivity gains, they’ve gone from tentatively accepting to fully embracing AI. The fact that they are now calling on their leaders to accelerate AI technology adoption in the enterprise is a real sea-change.”
The research also took a look at the growing market for personal AI applications versus those used at work. The workplace appears to be the proving ground for the use of AI, with 45% downloading AI-driven apps for their use at work, compared with just 26% who had downloaded AI-driven apps for personal use. As employees get comfortable with AI at work, perhaps they will more fully embrace it at home as well, closing the current gap.
Recommended AI News: Tom Warden Joins CLARA Analytics As Chief Insurance And Science Officer

Read More

Untitled Ventures joins the scramble for Russian & Eastern European startups with a $118M warchest

Untitled Ventures

Sorry Mr. Putin, but there’s a race on for Russian and Eastern European founders. And right now, those awful capitalists in the corrupt West are starting to out-gun the opposition! But seriously… only the other day a $100 million fund aimed at Russian speaking entrepreneurs appeared, and others are proliferating.

Read More

Credit Risk Modelling in the era of AI

Credit processing

The process of quantifying credit risk is an intricate task. It entails estimating factors such as Probability of Default (PD), the likelihood that the borrower will not be able to make the due payments; Exposure at Default (EAD), the expected value of the loan, or the value the lender is exposed to at the time of default; and Loss Given Default (LGD), the amount the lender loses at the time of default.

Read More

Execs from MasterCard, PayPal, and Goldman Sachs discuss major AI trends in the finance industry at Transform 2021

AI Execs

During a panel at this year’s Transform, Roey Mechrez, CTO and co-founder of BeyondMinds, spoke to Francesco Delle Fave, executive director in machine learning products at Goldman Sachs, Steve Flinter, VP of AI and machine learning at Mastercard Labs R&D, and Hui Wang, VP of data science, PayPal, about the major AI and machine learning news in the financial services industry.

Read More

Tiger Global leads $34M investment into Unit21, a no-code fraud prevention platform

Unit 21 AI

Unit21, a startup that helps businesses monitor fraudulent activities with its no-code software, announced today it has raised $34 million in a Series B round of funding led by Tiger Global Management.

Read More

Orum raises $56M to help speed up intrabank transfers

Orum

Orum, which aims to speed up the amount of time it takes to transfer money between banks, announced today it has raised $56 million in a Series B round of funding. Accel and Canapi Ventures co-led the round, which also included participation from existing backers Bain Capital Ventures, Inspired Capital, Homebrew, Acrew, Primary, Clocktower and Box Group. The financing comes barely three months after Orum announced a $21 million Series A, and brings its total raised to over $82 million.

Read More

8 UK founders, leaders highlight fintech and deep tech as Bristol’s top sectors

Bristol startup ecosystem

The U.K. is gaining in popularity as a great place to start a tech firm. The country is quickly catching up to China on the tech investment front, with VC investments reaching a record of $15 billion in 2020, according to TechNation. Bristol proved especially popular among tech investors last year — local businesses raked in an impressive $414 million in 2020, making it the third-largest U.K. city for tech investment. The city also has the most fintech startups per head in the U.K. outside London, according to Whitecap’s 2019-2020 Ecosystem Report.

Read More

Global AI market predicted to reach nearly $1 trillion by 2028

Global AI Market

The financial outlook for the global artificial intelligence market looks pretty good in 2021. But that’s nothing compared to the expansion experts expect to see over the next seven years. According to a recently released analysis report from Grand View Research, the AI market is expected to reach nearly $100 billion in 2021 and nearly ten times that by 2028.

Read More

How Artificial Intelligence Enhancing Accounts Payable

Accounts

AI has recently influenced accounts payable. Significant progress has been made in finance and procurement processes in the last few years. There has been an enormous movement to automate manual and strategic activities, especially in accounts payable. The push is causing global enterprises to focus and, as a result, implement process improvement projects.

Read More

First steps before applying reinforcement learning for trading

There are many methodologies in algorithmic trading — from automated trade entry and close points based on technical and fundamental indicators to intelligent forecasts and decision making using complex maths and, of course, artificial intelligence. Reinforcement learning here stands out as a Holy Graal — no need to do intermediate forecasts or rule creation — you just have to define a target and the algorithm will learn the exact rules by itself!

Read More

Flush with $42M, hot AI startup Faculty plans to hoover-up more PhDs… and steer clear of politics

Faculty

In the wake of the news that UK-based AI startup Faculty has raised $42.5 million in a growth funding round, I teased out more from CEO and co-founder Marc Warner on what his plans are for the company.

Read More

Climate risk platform Cervest raises $30M Series A led by Draper Esprit

Cervest

Cervest – a startup with a platform that claims to quantify climate risk across multiple decades and threats down to the asset level – has raised a $30 million Series A round led by Draper Esprit. Previous investors Astanor Ventures, Lowercarbon Capital (Chris Sacca), and Future Positive Capital also participated in the round, and were joined by new investors UNTITLED, the venture fund of Magnus Rausing, and TIME Ventures, the venture fund of Marc Benioff. Cervest’s total funding now stands at $36.2 million. It previously raised $5.2M in 2019.

Read More

Industrial automation startup Bright Machines hauls in $435M by going public via SPAC

Bright Machines

Bright Machines is going public via a SPAC-led combination, it announced this morning. The transaction will see the 3-year-old company merge with SCVX, raising gross cash proceeds of $435 million in the process. After the transaction is consummated, the startup will sport an anticipated equity valuation of $1.6 billion.

Read More

[Use Cases] 12 in Finance using AI and Machine Learning

AI/ ML in Finance

Recent years have seen a rapid acceleration in the pace of disruptive technologies such as AI and Machine Learning in Finance due to improved software and hardware. The finance sector, specifically, has seen a steep rise in the use cases of machine learning applications to advance better outcomes for both consumers and businesses.

Read More

Figure raises $7.5M to help startup employees better understand their compensation

Figure platform

Figure, announced it has raised $7.5 million in seed funding led by CRV. Bling Capital, Better Tomorrow Ventures and Garage Capital also participated in the financing, along with angel investors such as AngelList co-founder Naval Ravikant, Jason Calacanis, Reddit CEO Steve Huffman and other executives based in Silicon Valley.

Read More
1 2 3 4