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Two days after being confirmed to be the Federal Reserve’s vice chair for supervision, Michelle Bowman said she aims to “refocus supervisory and regulatory efforts on the core financial risks most critical to maintaining a healthy and resilient banking system.”
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In a speech delivered Friday (June 6) at Georgetown University in Washington, D.C., Bowman, who has been a...
OpenAI has appealed a court order that requires it to retain consumer ChatGPT and API data indefinitely, saying the order conflicts with its privacy commitments.
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The order came in response to a demand from The New York Times and other plaintiffs in a lawsuit they brought against the artificial intelligence (AI) company, because they believe the data might support their...
Kargo raised $18.4 million to develop new artificial intelligence (AI)-powered products that connect supply chain data to help with inventory management.
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The company currently offers Kargo Towers and Kargo Lifts, which are integrated hardware and software solutions that are installed at warehouse loading docks or gateways and use AI-powered cameras to gather information...
This week in artificial intelligence (AI) news, Intuit in introducing AI agents for its enterprise clients, while voice AI startups drew in an eightfold increase in investments last year compared to 2023. AI pioneer Yoshua Bengio launched an AI safety nonprofit, and AI coding tools are supercharging small- to medium-sized businesses (SMBs).
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Intuit Accelerates Roll out...
HSBC became a strategic investor in Token.io to help accelerate the growth of Token.io’s pay-by-bank infrastructure.
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The move extends a collaboration in which Token.io has powered the HSBC Open Payments solution since 2019, the companies said in a Wednesday (June 4) press release.
Token.io also secured additional funding from most of its existing investors, according to...
The most visible sign this week of enthusiasm for FinTechs — call it a form of financial enthusiasm, perhaps — was, arguably, the stratospheric rise of Circle shares in their debut on the public markets on Thursday (June 5).
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Circle shares soared from the initial offering price, we wrote in coverage of a remarkable first day that ended with a 168% gain. Beyond the eye-...
As Apple heads into its annual developers conference this coming week, it is facing a slew of problems that has led to a stock price slide of 20% this year thus far, the worst performance since at least 2010.
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Expected to dominate headlines at Apple’s WWDC, or Worldwide Developers Conference, is how far it lags its rivals in artificial intelligence (AI), according to...
Cross-border payments don’t have a small bank problem; small banks have a cross-border problem.
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With layers of intermediaries, opaque fee structures and legacy infrastructure, the cost and complexity of sending money internationally remain disproportionately high for regional and community banks.
As large banks use economies of scale and bespoke infrastructure to...
The rising adoption of stablecoins could reportedly increase the volatility of U.S. Treasury Securities with short-term maturities.
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Some analysts say that as these dollar-pegged cryptocurrencies grow, their volatility could spread to the bills market, Reuters reported Friday (June 6).
Any disruption in the stablecoin market could trigger liquidations that could drive...
The share of venture capital (VC) investors who expect VC funding to rise over the next year has fallen by 20 percentage points over the last six months, according to PitchBook.
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The share dropped from 58% in the second half of 2024 to 38% today, the capital market intelligence platform said in its H1 VC Tech Survey released Wednesday (June 4).
In addition, the share of...