AI and Fintech Insights - Issue #475 July 6th, 2024

header image

FinTech Weekly brings you the latest insights and trends in the fintech world. From Apple's strategic move with OpenAI and Nubank's AI-driven acquisition, to global efforts in AI regulation and blockchain's potential in combating financial crime, we cover it all. Explore the challenges and opportunities in AI adoption, and learn about new initiatives supporting Moroccan startups. This and much more in this edition of FinTech Weekly: discover top fintech news and events and stay ahead of the competition!

Top Stories

Podcasts and Videos


    Globally, governments are urgently seeking solutions to ensure accountability for both creators and users of AI applications. The European Union has swiftly enacted regulations such as the AI Act, while others lack a clear strategy. Moreover, the enforceability of AI regulations in a globalized world remains uncertain. Meanwhile, blockchain technology, introduced 15 years ago with Bitcoin, is gaining attention as a potential solution for AI accountability, possibly poised to become its definitive use case.

    The chairman of Nigeria’s Economic and Financial Crimes Commission, Olanipekun Olukoyede, has identified blockchain technology and artificial intelligence (AI) as essential tools to combat illicit financial flows (IFFs) in Africa. According to local media, Olukoyede emphasized the $88.6 billion lost annually by African countries due to IFFs at the Pan-African Conference on Illicit Financial Flows and Taxation.



    On July 1, a new initiative called Lab Innova was launched at Technopark Casablanca to promote the internationalization of Moroccan startups. This program is a collaboration between the Italian Trade Agency (ICE/ITA) and Moroccan institutions such as Technopark, StartGate at UM6P Ben Guerir, and the Moroccan Center for Innovation & Entrepreneurship (MCISE). It targets 24 Moroccan startups in high-growth sectors, including Energy, GreenTech, AgriTech, MedTech, ICT, Big Data, Fintech, IoT, AI, and Mobility.