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This week in AI, security researchers stole artificial intelligence models with near-perfect accuracy by capturing electromagnetic signals, as MIT unveiled a robot system that can handle odd-shaped warehouse packages with 80% success.
Meanwhile, three nations launched AI regulations, and Google released its more autonomous Gemini 2.0. Tech leaders acknowledge tougher challenges ahead as some AI...
Since the inception of global trade, the world’s financial systems have largely talked past and around each other.
The reason? Diverse payment systems and communication protocols across countries and financial institutions have led to fragmentation and a lack of standardization across the world’s economies and marketplaces. This, in turn, has historically created friction in cross-border payments...
OpenAI said Friday (Dec. 20) that it will appeal a fine imposed by an Italian authority that alleged that the company violated the European Union’s General Data Protection Regulation (GDPR).
Italy’s data protection agency, the Garante, fined OpenAI 15 million euros (about $15.6 million), saying it found that the company used personal data to train ChatGPT without informing consumers, Reuters ...
FedEx is taking steps to streamline its operations by prioritizing its DRIVE program and separating FedEx Freight into a standalone, publicly traded company.
These decisions were announced by FedEx President and CEO Raj Subramaniam Thursday (Dec. 19) during the company’s second-quarter earnings call, which saw the company’s total sales of $22 billion slip 1%.
Amid these challenges, Subramaniam...
The Consumer Financial Protection Bureau sued Zelle operator Early Warning Services and three of its owner banks — Bank of America, J.P. Morgan Chase and Wells Fargo — alleging that they failed to protect consumers from “widespread fraud” on the peer-to-peer payment network.
The agency’s complaint alleged that the defendants violated consumer financial protection laws by failing to implement...
The European Commission approved Nvidia’s proposed acquisition of Run:ai Thursday (Dec. 19), saying that it did so unconditionally and that the transaction would raise no competition concerns in the European Economic Area (EEA).
The case had been referred to the Commission in September by the Italian competition authority, which asked the Commission to determine whether the proposed acquisition...
As the banking and payments sector stands on the cusp of 2025 on a new regulation-averse government worldview, one of the issues that bears watching is the partnerships between banks and FinTechs.
As a group, they have created new ways of moving money, across apps, platforms and mobile devices. FinTechs have largely been untested in terms of risks or controls, and in some cases — such as with the...
The circle of trust and the issues around risk management explored in PYMNTS’ recent “What’s Next in Payments” articles are often heavy on future technology. They may bring to mind a consumer logging into a bank app, sending a P2P payment or transacting with a retailer online, where the customer experience demands interaction and risk management across a host of players, including merchants and...
The holiday shopping season is a pivotal time for small- to medium-sized businesses (SMBs). According to a recent survey, consumer holiday spending accounts for more than 25% of annual sales for almost half of small businesses globally. At the same time, more than half of global consumers say they have had to reduce their spending with SMBs in 2024 due to budget concerns. These circumstances have...
Credit and debit cards still dominate the eCommerce arena, yet alternative payment methods such as digital wallets and buy now, pay later (BNPL) plans have gained popularity as online payment options. Key reasons why include the ease and convenience they provide. As a result, most eCommerce merchants prioritize offering digital wallets and BNPL to meet this consumer demand — and merchants will...