Browsing:Fintech News

Meta (Facebook) announced its latest project called the Segment Anything Model
1 year ago 1 min read

Meta’s AI-Powered Picture Analysis Tool Can Identify and Separate Objects

After the collapse of its Metaverse ambitions, Meta (formerly known as Facebook) announced its latest project called the Segment Anything Model. This new AI tool allows users to identify specific items in an image with just a few clicks. While still in demo mode, Meta says that Segment Anything can already identify the pixels that makeup everything in a photo, allowing one or more items to be separated from the rest of the image. According to Meta, segmentation, or the process of identifying which image pixels belong to an object, is a core task in computer vision and is used

Biden Warns Tech Firms to Address Risks of AI
1 year ago 1 min read

US President Biden Asks Tech Companies to Address the Potential Risks of Artificial Intelligence

On Tuesday, United States President Joe Biden expressed concerns over the safety of artificial intelligence (AI) and urged technology firms to ensure their products are secure before releasing them to the public. During a meeting with science and technology advisers, Biden acknowledged the potential benefits of AI in tackling issues such as disease and climate change but also emphasized the importance of addressing possible risks to society, national security, and the economy. He stressed that technology companies must prioritize security measures before releasing their products to the public. When questioned about the potential hazards of AI, he replied, “It is

El Salvador's President has announced plans to propose a bill to Congress that would abolish taxes on technology
1 year ago 1 min read

El Salvador’s President to Propose Bill Eliminating Taxes on AI and Tech Innovations

El Salvador’s President Nayib Bukele has announced plans to propose a bill to Congress that would abolish taxes on technology innovation, computing, artificial intelligence (AI) development, and communication hardware manufacturing. The bill is aimed at encouraging growth in the technology sector and attracting more foreign investment to El Salvador. The tax exemption will include property, capital gains, income, and import tariffs on technology innovations such as coding, software programming, AI development, computing, and communications hardware manufacturing. President Bukele’s administration has been investing in infrastructure, education, and entrepreneurship programs to promote innovation and digitalization across various sectors. This move is part

The 11th edition of GISEC Global, taking place from 14-16 March 2023 at the Dubai World Trade Centre (DWTC), is set to host a record 500-plus cybersecurity brands, 300 leading InfoSec and cybersecurity speakers
1 year ago 7 mins read

GISEC Global 2023 draws prominent international cybersecurity leaders to address US$2 trillion market

Middle East’s largest and most impactful cybersecurity event to feature a record 500-plus exhibiting brands from 53 countries New Hack-O-Sphere to gather 1,000-plus ethical hackers in thrilling cyber competition series including US$1 million CyTaka World Cyber Championship Dubai, UAE, 10 March 2023: The 11th edition of GISEC Global, taking place from 14-16 March 2023 at the Dubai World Trade Centre (DWTC), is set to host a record 500-plus cybersecurity brands, 300 leading InfoSec and cybersecurity speakers, and 1,000 of the world’s top ethical hackers to address opportunities in a global cybersecurity market valued at $2 trillion by McKinsey & Company. Organised by DWTC

UAE aims to introduce CBDC
1 year ago 1 min read

UAE Moves to Facilitate Digital Payments with CBDC

UAE aims to introduce central bank digital currency (CBDC) and create a secure and transparent platform for domestic and cross-border payments, and it promises to drive financial inclusion, payment innovation, security, and efficiency. The project will also help the UAE to become a cashless society, offering a more efficient alternative to traditional payment methods. In addition, the UAE’s new licensing framework for crypto companies is a step toward more efficient and secure payments. The UAE’s CBDC project is the latest in a series of initiatives aimed at facilitating the digital transformation of the country and its financial infrastructure. With the

Baidu unveils AI chatbot rivaling OpenAI's ChatGPT
1 year ago 1 min read

Baidu to launch AI chatbot challenging ChatGPT

China’s largest search engine company, Baidu, plans to launch an AI chatbot service similar to OpenAI’s ChatGPT in March. The tool, which has yet to be named, will be initially embedded in Baidu’s main search services and allow users to get conversation-style search results. Baidu has invested billions of dollars in AI research in recent years and its Ernie system, a large-scale machine-learning model, will serve as the foundation for the new chatbot. OpenAI’s ChatGPT gained widespread attention after its public debut in November and sparked a debate about the role of AI. Baidu, along with other Chinese tech giants,

EV project built on the Cardano (ADA) network
1 year ago 1 min read

Groundbreaking Cardano-powered electric vehicle project to launch in Sri Lanka

A manufacturer of electric vehicles (EVs) has announced the debut of its EV project built on the Cardano (ADA) network, set to launch in Sri Lanka. The Sri Lanka deployment of eTukTuk, the first-ever automotive project created on Cardano, was announced at the World Economic Forum (WEF) taking place in Davos, Switzerland. The eTukTuk project aims to address the infrastructure and cost issues that have previously prevented the launch of EVs at scale by building an innovative, sustainable, and “dynamic, multi-revenue model” that would incentivize the expansion of eTukTuk’s network of charging stations and EVs through Cardano. The eTukTuk team

quantum computers
1 year ago 1 min read

Chinese scientists claim to have broken encryption with quantum computers

Chinese researchers have claimed that they have used quantum computers to break the standard RSA algorithm, which is used for encryption by many industries, including banking, mobile phones, and data storage. The researchers published a “scientific paper” last month stating that they had used their algorithm to factor a number with 48 bits on a quantum computer with ten qubits, but had not yet tried to scale it up to work on a larger system. Many experts have called the claims hype-driven and lacking a proof of concept that would demonstrate the successful breaking of current encryption standards. Encryption helps

Spain CBDC
1 year ago 1 min read

The central bank of Spain is conducting trials of digital central bank currencies (CBDCs) for wholesale purposes

The Bank of Spain (BDE) has announced a new experimental program to assess the viability of implementing wholesale Central Bank Digital Currencies (CDBCs) in an effort to better meet the “needs and demands of an increasingly digital society.” The BDE is looking to collaborate with financial and technological institutions to launch the pilot program. The program will concentrate on three main areas: simulating the transfer of funds, testing the liquidation of financial assets, and assessing the advantages and disadvantages of introducing a wholesale CBDC to the existing procedures and structure. A December 5 statement, when translated, revealed that the bank

World Fintech Show
1 year ago 4 mins read

Fintactics announces its new ventures Holoul and Leza’am; Signs MOU with Aion Digital and Bitfy Holdings at Trescon’s World Fintech Show

December,5th, 2022: World Fintech Show, a global fintech series managed by Trescon offered Saudi Arabia’s fintech industry a platform for significant advancement. The event witnessed the launch of Fintactics Studio and its commitment to shape the future of fintech in the Kingdom of Saudi Arabia. World Fintech Show, which was held at the InterContinental in Riyadh, aided in establishing strategic alliances aimed at transforming the financial services industry for the foreseeable future. World Fintech Show played host to the announcement and commencement of numerous partnerships. Here are some exclusive highlights of the event. Launch of Fintactics Studio and VC Fund:Fintactics Studio, the first dedicated

Optimisus, the world’s first read-to-earn, write-to-earn, and edit-to-earn web3 media platform., is proud to announce its participation in Benzinga’s very first Future of Crypto Conference.
1 year ago 1 min read

Optimisus Invites You to Join Us at the Benzinga Future of Crypto Conference

Dubai, United Arab Emirates–(Newsfile Corp. – November 16, 2022) – Optimisus, the world’s first read-to-earn, write-to-earn, and edit-to-earn web3 media platform., is proud to announce its participation in Benzinga’s very first Future of Crypto Conference. Roland Guirdonan will be speaking at 3.30 PM ET on December 7th. Members of the Optimisus will also be holding one-on-one investor meetings throughout the day. Register here for Benzinga’s Future of Crypto Conference which will take place December 7, 2022 at Pier Sixty in New York City. “As an investor and builder, myself, I know how important it is to be aware of where the opportunities

Paymob will focus on serving the country’s growing number of SMEs and microbusinesses
1 year ago 3 mins read

Paymob Embarks on Next Phase of Expansion by Announcing the U.A.E. as its Regional Hub

Dubai, United Arab Emirates – 02 November 2022 – Paymob, the leading omnichannel payments facilitator in the MENAP region, today embarked on the next phase of its expansion plans by announcing the U.A.E. as its regional hub. This step marks an important milestone in Paymob’s global growth plans, fueled by recent Series B funding led by PayPal Ventures. Paymob plans to make a sizeable investment in the U.A.E. market over the next three years.  The expansion into the U.A.E. market will serve to empower small and medium enterprises (SMEs) and microbusinesses across the seven Emirates, with best-in-class digital payments solutions

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