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Home » AI Tracker – Latest Updates in News
AI in Finance

AI Tracker – Latest Updates in News

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AI Innovations and Challenges: From Investment Scams to Healthcare Solutions

Deceptive AI: The Trump Video Scam

Recent reports from Karnataka reveal a troubling case of an investment scam involving an AI-generated video featuring Donald Trump. Over 200 individuals from Bengaluru, Tumakuru, Mangaluru, and Haveri fell victim to this scheme, losing more than ₹2 crore. Attracted by promises of high returns, victims were coaxed into paying ₹1,500 to create investment accounts. Victims were shown fake profits via an application, which led them to invest more. A lawyer in Haveri lost nearly ₹6 lakh before realizing the fraud. Law enforcement agencies are currently investigating this matter.

Revolutionizing Shopping: Google Cloud and Myntra’s AI Partnership

In the realm of e-commerce, Google Cloud and Myntra have teamed up to launch “Dream Room Inspirations,” an AI-driven tool that transforms home decoration. This innovative tool allows users to visualize personalized home designs using simple text prompts. Powered by Google’s Vertex AI, it generates images tailored to desired aesthetics, making interior design more user-friendly and interactive. This initiative aims to enhance customer engagement by offering inspiration and ease in selecting decor elements.

Amazon’s Generative Audio Feature

Amazon is testing a new generative audio feature that provides succinct product summaries through a “Listen to Reflections” button on its app. These AI-generated audio snippets condense product details, reviews, and web data into easy-to-digest conversations, aiding customers in decision-making on the go. Initially rolled out to select users in the U.S., this feature signifies a step toward more intelligent and personalized shopping experiences.

AI’s Growing Energy Consumption

Artificial intelligence is projected to consume nearly half of all electricity in data centers by the end of 2025, according to a study by sustainability expert Alex de Vries-Gao. This analysis highlights how the demand for powerful AI chips, such as those from Nvidia and AMD, is driving energy consumption. The International Energy Agency predicts that AI systems could soon match the energy usage of countries like Japan. As energy demands rise, experts advocate for increased transparency surrounding AI’s environmental impact to mitigate concerns regarding sustainability.

Google’s AI Mode: A Leap in Search Technology

At its I/O conference, Google unveiled the “AI Mode,” leveraging its Gemini 2.5 model to enhance online search with conversational features. This mode allows users to make reservations, interpret live videos, and integrate tools within Gmail. By improving user satisfaction and reducing clicks to external websites, Google raises concerns among web publishers. The tech giant is also venturing into AI-powered smart glasses, reinforcing its dominance in the AI landscape.

Enhancing Patient Safety with AI

Medical errors pose a significant threat to patient safety, with the WHO reporting over 138 million patients injured annually. In India, research indicates an alarming incidence rate of up to 5.2 million cases linked to medical professional errors. To combat this, an innovative AI-powered system developed by healthcare professionals in Seattle scans and validates medication labels in real-time, dramatically reducing errors with an impressive 99.6% accuracy. This technology could revolutionize patient safety, alleviating pressure on medical staff in high-stress environments.

Needle-Free Blood Testing: A New Era in Diagnostics

The introduction of India’s first AI-powered needle-free blood test represents a significant advancement in diagnostics. Utilizing photoplethysmography, this rapid test delivers results in under 20 seconds through facial analysis, making it ideal for mass screenings. Initially launched at Hyderabad’s Niloufer Hospital, it is now expanding to Maharashtra and remote regions. Experts believe this innovation could transform community healthcare with its speed, affordability, and accuracy, aligning with WHO standards.

Advanced Weather Forecasting with Aurora

Microsoft’s AI-driven weather model, Aurora, is redefining meteorological predictions by delivering accurate 10-day forecasts in mere seconds. Developed through physics-based modeling and extensive data sets, Aurora extends its capabilities beyond weather to encompass atmospheric pollution and renewable energy markets. Currently employed in major European weather centers, this model accelerates the shift toward AI-generated forecasts while maintaining the necessity for human oversight and physical data accuracy.

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JPMorgan’s new fintech fees are provoking a response from the industry.

July 26, 2025

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July 26, 2025
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