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OpenAI’s lead scientist and co-founder says it is time for him to move on.
Ilya Sutskever, who took part in an unsuccessful effort to remove co-founder and CEO Sam Altman last year, announced his resignation from the artificial intelligence (AI) giant on Twitter Tuesday (May 15) evening.
“After almost a decade, I have made the decision to leave OpenAI,” Sutskever wrote.
“The company’s trajectory...
The U.K. payments sector is protesting the government’s plan to have companies reimburse fraud victims.
Dozens of members of the Payments Association have written to the British economic secretary to the Treasury, Bim Afolami, to push back against the rules, Bloomberg News reported, citing a draft of the letter set to be sent Wednesday (May 15).
In it, the firms say that the maximum refund of £...
As the company that laid claim to the concept of “digital identity” more than 10 years ago, Prove Identity takes verification seriously, even when it’s not.
Case in point: As CEO Rodger Desai told Karen Webster in an interview, at Prove, there’s a running joke inside the firm in which he keeps score on how many times a would-be scammer (Desai) has texted employees that he’s in a jam and they...
Small to mid-sized businesses (SMBs) in the restaurant segment now use instant payments more than other payment methods. PYMNTS Intelligence finds that 74% of businesses surveyed sent instant payments in the last year. Moreover, 40% identify an instant option as their most used form of payment.
Among instant methods, restaurant SMBs most widely use push to debit cards, with 41% sending payments...
Google unveiled a range of artificial intelligence (AI) advancements at its annual developer conference Tuesday (May 14), including more sophisticated analysis powered by Gemini, smarter assistants like Astra, and an infusion of AI into its dominant search engine, marking one of the most dramatic changes to the company’s foundation since its inception and potentially triggering a sea change in...
Citi has reportedly announced in an internal memo the departure of two executives, including one who implemented the bank’s recently completed restructuring.
Titi Cole, who was the head of legacy franchises and executed Citi’s plan to sell consumer banking businesses in nine non-core markets, has left to take a role at nonprofit, Reuters reported Tuesday (May 14), citing an internal memo it had...
Expedia Group has unveiled an artificial intelligence (AI) assistant designed to help travelers plan their trip.
The new AI assistant, Romie, can help with planning, shopping, booking and making changes during a trip, the global travel platform said in a Tuesday (May 14) press release.
Romie is in alpha version and is available on the company’s hub for experimental products, EG Labs, according to...
Verizon Communications is reportedly placing a significant bet on artificial intelligence (AI) as its next major growth driver.
The company, which is the largest retail wireless carrier in the United States, believes in the potential of AI to double its network over the next five years, Verizon Consumer CEO Sowmyanarayan Sampath told Bloomberg in an interview posted Tuesday (May 14).
While video...
Meta Platforms will be phasing out Workplace, its office collaboration tool, over the next two years.
The platform will continue working as usual until Aug. 31, 2025, when it will stop functioning, and users will be able to view and download their data until May 31, 2026, according to an email the company sent to PYMNTS.
“We are discontinuing Workplace from Meta so we can focus on building AI and...
Testimony from some of the top regulators in the country ahead of a Wednesday (May 15) Capitol Hill hearing on bank oversight took note of the resilience of the banking industry in the wake of the Silicon Valley Bank (SVB) collapse of last year.
But risks remain, they say.
In prepared testimony to be offered to the House Committee on Financial Services, during a hearing titled “Oversight of...