Pecan AI, an eight-year-old startup, has raised $116 million in funding and recently launched a new tool, Predictive GenAI, which combines generative AI capabilities with predictive machine learning. The tool aims to simplify the process of building predictive AI models, making it more user-friendly for data scientists and individuals closer to the business side of […]
In the world of AI startups, the potential for a significant funding round is on the horizon for Toronto-based Cohere, as it enters discussions for a raise between $500 million and $1 billion. This news follows a previous report of Anthropic, another AI startup, considering a $750 million funding round. Cohere, which specializes in building […]
Microsoft, Google, and Vicarius are investing in generative AI technologies to enhance cybersecurity. Vicarius, a vulnerability remediation platform, recently closed a $30 million Series B funding round, indicating strong investor interest and 5x year-over-year growth. The company’s customer base includes major brands like PepsiCo, Hewlett Packard Enterprise, and Equinix. Vicarius offers an AI-powered […]
Sakana, a rising star in the AI startup universe, has just reeled in a $30 million in seed funding from an all-star lineup of investors. The young Tokyo-based company, co-founded by former Google engineers David Ha and Llion Jones, is making waves with its unconventional, nature-inspired approach to AI model development. The team aims to […]
Generative AI is rapidly evolving, prompting consulting leader Deloitte to launch a new quarterly survey to explore its impact on enterprises. The survey revealed that while business leaders are optimistic about the potential of generative AI to transform their organizations in the next few years, they are currently primarily focused on practical benefits. Concerns exist […]
Legacy tech giants Microsoft and SAP are making moves in the retail industry’s AI adoption, introducing AI-powered capabilities to help retailers adapt to changing consumer behaviors and market volatility. Ahead of the National Retail Federation’s flagship conference, Microsoft and SAP unveiled new AI-powered capabilities for retailers, including predictive analytics, automated operations, and enhanced customer […]
Microsoft and Siemens have partnered to introduce Siemens Industrial Copilot, a generative AI-powered assistant designed to enhance human-machine collaboration and boost productivity in manufacturing and other industries. The integration between Siemens Teamcenter software for product lifecycle management and Microsoft Teams will enable virtual collaboration of design engineers, frontline workers, and other teams across business […]
Wells Fargo’s CIO, Chintan Mehta, revealed the bank’s advancements in generative AI applications, notably the success of the virtual assistant app, Fargo, which has handled 20 million interactions since its launch in March. This is a significant achievement considering most large companies are still at the proof of concept stage with generative AI. Despite […]
Google Cloud has unveiled new generative AI products designed to help retailers personalize their online shopping experiences and streamline their back-office operations, coinciding with the National Retailer Association’s annual conference in NYC. One of Google Cloud’s new products, Conversational Commerce Solution, allows retailers to embed gen AI-powered agents on their websites and mobile apps, […]
Generative AI, while receiving significant attention in the press, is facing skepticism from businesses about its potential impact on their bottom lines. A Boston Consulting Group (BCG) poll revealed that 66% of C-suite executives expressed ambivalence or dissatisfaction with their organization’s progress on GenAI. Executives cited talent and skills shortages, unclear roadmaps, and a lack […]
OpenAI has recently introduced the GPT Store, allowing creators to build and distribute custom versions of the popular ChatGPT chatbot. Moreover, they have unveiled the ChatGPT Team subscription tier, catering to smaller teams and offering enhanced data security and support for longer queries.
At CES 2024, several tech companies, including Volkswagen, Nvidia, and Amazon, have showcased generative AI as a major theme, indicating a significant focus on this technology in the industry. Amazon revealed new generative AI-powered Alexa experiences developed by Character.AI, Splash, and Volley, which are now available in the Amazon Alexa Skill Store. Character.AI enables users […]
Quora, the popular Q&A platform, is making waves with its recent move to secure a hefty $75 million in funding from tech investment firm Andreessen Horowitz. This marks the company’s first venture into fundraising in almost seven years, a significant milestone for the platform. The funding injection is slated to fuel the growth of Poe, […]
In a recent keynote address at the Consumer Electronics Show, Walmart’s president and CEO, Doug McMillon, along with other executives, unveiled the company’s innovative utilization of new technologies such as augmented reality, drones, and artificial intelligence to enhance the customer shopping experience. Walmart introduced several new products, such as AI-powered tools for product search and […]
Humane, a Silicon Valley startup, has recently announced a 4 percent reduction in its workforce, affecting 10 employees. The move was attributed to cost-cutting measures and the need to lower budgets. The company is preparing to launch its first product, an AI-powered pin marketed as a smartphone replacement, after securing over $200 million in funding […]
The world of financial security is under threat as generative AI technology makes it increasingly easy to create convincing deepfake ID images, raising doubts about the effectiveness of KYC authentication processes. While KYC systems have long relied on ID images and selfies to verify customers’ identities, the emergence of generative AI tools now presents a […]
Amazon is using AI technology to help customers shop for apparel online. This includes personalized size recommendations, fit review highlights from customer reviews, improved size charts, and AI-powered insights for sellers. The average return rate for clothing ordered online is 24.4%, which is higher than the overall online return rate, and retailers and brands […]
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