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The U.K. has debuted what it calls a landmark toolset for artificial intelligence (AI) safety testing.
The new offering, announced Friday (May 10) by the country’s AI Safety Institute, is dubbed “Inspect” and is a software library that lets testers such as startups, academics and AI developers to international governments assess specific capabilities of individual AI models and then generate a...
Consumer caution at restaurants is reportedly dampening business at fast-casual eateries.
As Bloomberg News reported Saturday (May 11), restaurants such as Red Lobster — which is mulling bankruptcy — and TGI Fridays are under greater pressure due to rising labor costs and an increase in consumers choosing to eat at home.
The report cites recent findings from Moody’s Ratings arguing that this...
Artificial intelligence (AI) projects are set to comprise up to 10% of companies’ IT budgets.
That’s according to a report Sunday (May 12) by Seeking Alpha, citing research by Wedbush. As the report notes, it’s a dramatic jump in AI spending, which last year accounted for under 1% of IT spending.
“While the first wave of the AI Revolution is being led by the Godfather of AI Jensen and Nvidia...
Many shoppers are no longer planning out their Mother’s Day gifts weeks in advance — they’re increasingly waiting for the last minute, expecting to have whatever they want still available.
In an interview with PYMNTS, Jim McCann, founder and chairman at 1-800 Flowers.com, spoke to how the growing popularity of on-demand retail delivery platforms has led to rising demand for these eleventh-hour...
The government’s new rule that would limit credit card late fees has been blocked by a federal judge in Texas.
In a Friday (May 10) decision, Judge Mark Pittman of the U.S. District Court for the Northern District granted an injunction that halts the restrictions.
The restrictions had been adopted by the Consumer Financial Protection Bureau (CFPB) and were set to take effect Tuesday (May 14),...
Beyond the Consumer Financial Protection Bureau (CFPB)’s new rule that would cap credit card late fees, banks are girding for the impact of the Federal Reserve’s updated Reg II proposal, which would cap debit interchange fees.
This past October, the Fed unveiled its proposal to lower the ceiling on what banks can charge for debit card transactions — also known as swipe fees. The cap would...
The Financial Stability Oversight Committee (FSOC) is encouraging state and federal regulators and Congress to do more to enhance the resilience of nonbank mortgage companies (NMCs).
The agency did so in a report released Friday (May 10) that also identifies risks in this sector, the FSOC said in a press release outlining the report.
“We need further action to promote safe and sound operations,...
The B2B payments landscape is uniquely large, and largely unique.
Responsible for around $125 trillion in annual volume, the B2B payments marketplace is defined by both its antiquated status quo and the fact that no two business are alike in the ways in which they prefer to transact.
But with the news that cloud solutions are coming to The Clearing House’s RTP® network, the impact of instant...
A bill that promises regulatory clarity for digital assets has moved a step closer to a vote in the U.S. House.
The House Committee on Rules said Friday (May 10) that it will consider the Financial Innovation and Technology for the 21st Century (FIT21) Act (H.R. 4763), which means the bill could go to a floor vote later in May, the House Financial Services Committee said in a Friday press release...
New York City, the concrete jungle where dreams are made, is now dreaming of a new kind of dominance: artificial intelligence.
The metropolis, long known for its towering skyscrapers and fast-paced financial district, is setting its sights on becoming the next Silicon Valley, according to a report by Accenture and interviews with business leaders and AI experts.
From the bustling streets of...