The Bad & the Good of AI - Issue #423 July 6th, 2023
The most interesting news covered by FinTech Weekly in this new number involves Google: the tech giant updated its privacy policy – all public data can now be used to allow data scraping for AI purposes. This, for sure, will help businesses around the world: there are already many startups powered by artificial intelligence, and AI in finance is becoming increasingly more important. Businesses don’t want to renounce AI, and this makes the work of regulators harder. But if artificial intelligence represents a huge advantage for businesses, there might be consequences we’re not completely aware of – like the negative impact this could have on jobs. Fintech and AI constantly make headlines, as well as cryptos and blockchain technology: this mix of advanced tech is leading us to revolutionize our lives and businesses, but maybe we’re now too enthusiastic about all this innovation to focus on possible negative effects. This and much more in this number of FinTech Weekly – follow us on Twitter @fintech_weekly to stay ahead of competition!
Top Stories
Breaking: Google updated its privacy policy to allow data scraping for AI use cases. Good or bad news? OpenAI was already charged in California for a similar reason. Will the decision of Google help people and businesses to progress with artificial intelligence, or is it another threat to users’ data?
Top Events
Join your data & analytics peers from leading brands across North America as you discover the latest trends and challenges facing your role.
Podcasts and Videos
PSD3 unveils plans to shake up Open Banking | Fintech Insider News podcast | 755
— via Fintech InsiderA new episode to discuss recent fintech news. Among the most important events, the European Union plans for open banking.
Jobs
At Discover, be part of a culture where diversity, teamwork and collaboration reign. Join a company that is just as employee focused as it is on its customers and is consistently awarded for both.
We’re looking for a Sr. Director, Product Management to join the Machine Learning Experience (MLX) team!
The Mobile Products team has an exciting opportunity for an experienced mobile product management leader to help transform the mobile experiences that we offer to our Commercial, Corporate & Investment Banking customers.
Crypto
A new proposal aims at making Hong Kong more competitive: Hong Kong should issue a stablecoin to compete with US-pegged coins like USDT and USDC. The stablecoin would improve payment systems and strengthen fintech businesses.
New developments in the UK crypto space. The Financial Services and Markets Act 2023 establishes that crypto is a regulated financial activity.
Banking
SoLo Funds, peer-to-peer loan platform for underserved banking consumers, is expanding to Nigeria
— via CNBCFintech in Africa. SoLo Funds, the US community-led lending platform, is expanding to Nigeria to serve unbanked people.
Innovation
Businesses Aim to Harness Generative AI to Shake Up Accounting, Finance
— via The Wall Street JournalThe good side of artificial intelligence. One of the most fascinating characteristics of AI is that it can help with repetitive tasks, and it seems that one of the most popular use cases will involve accounting.
Fintech
The bad side of artificial intelligence. A financial service recruitment firm warns that the job market will be significantly impacted, but firms must embrace AI to stay competitive.
Fintech and business – Eva Sgroi for IT News Africa. A list of the 10 ways you can use financial technology to improve your business.
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