Posted inTECH

Application of AI in Finance Causes Imbalance if “Unleashed Unfettered”, Warns UK Financial Watchdog

Applying artificial intelligence (AI) to financial services must go hand-in-hand with better fraud prevention and resilience to hacking and outages, Britain’s Financial Conduct Authority (FCA) was expected to say on Wednesday. Nikhil Rathi, chief executive of the FCA, said in remarks made available to the media in advance of a speech, that he was already […]

Posted inTECH

Amazon Touts Its Low-Cost Cloud Computing in Generative AI Race

A key way that Amazon’s cloud division aims to set itself apart from rivals perceived to have a leg up on artificial intelligence is by competing on price, an executive said on Tuesday. The AI models behind a viral chatbot like ChatGPT require immense computing power to train and operate, the kinds of costs Amazon […]