SCI-TECH
UK Plans Digital Currency Within 10 Years
From
www.kten.com –
‘Britcoin’ could arrive in the second half of the decade –
Excerpt:
“While cash is here to stay, a digital pound issued and backed by the Bank of England could be a new way to pay that’s trusted, accessible and easy to use,” UK finance minister Jeremy Hunt said in a statement. “That’s why we want to investigate what is possible first, whilst always making sure we protect financial stability.”
AI to Become Your Company’s Video Content Creator?
From
www.technologyreview.com –
The original startup behind Stable Diffusion has launched a generative AI for video
Excerpt:
Set up in 2018, Runway has been developing AI-powered video-editing software for several years. Its tools are used by TikTokers and YouTubers as well as mainstream movie and TV studios. The makers of The Late Show with Stephen Colbert used Runway software to edit the show’s graphics; the visual effects team behind the hit movie Everything Everywhere All at Once used the company’s tech to help create certain scenes.
In 2021, Runway collaborated with researchers at the University of Munich to build the first version of Stable Diffusion. Stability AI, a UK-based startup, then stepped in to pay the computing costs required to train the model on much more data. In 2022, Stability AI took Stable Diffusion mainstream, transforming it from a research project into a global phenomenon.
But the two companies no longer collaborate. Getty is now taking legal action against Stability AI—claiming that the company used Getty’s images, which appear in Stable Diffusion’s training data, without permission—and Runway is keen to keep its distance.
Machine Learning Becomes Fraud Cops in Finance
From
readwrite.com –
How is Machine Learning solving fraud detection in the Finance sector?
Excerpt:
You will find financial apps on a majority of smartphones. We often reach our phones to make online banking transactions or check our bank balances. Mobile apps are transforming how we used to perform financial activities, bringing convenience and flexibility to people’s lives. Banks offer nearly every possible service a user wants directly to their mobile apps. Henceforth, the need to visit the bank has reduced significantly, and there are so many customers who have not visited a bank in months or even years.
However, the injection of digital platforms in the finance industry also packs numerous fraud activities that the finance industry has to solve for users. A key solution to financial fraud detection and prevention is Machine learning.
