Author: nripn

Hong Kong finance chief Paul Chan Mo-po has highlighted the city’s central role in helping mainland Chinese companies develop their artificial intelligence (AI) capabilities as they eye expansion into South Asia. Southeast. Speaking at a seminar on Friday, Chan highlighted Hong Kong’s strategic role in facilitating the growth of AI and financial technology (fintech) in the region. As Southeast Asia becomes an increasingly attractive market for businesses, Chan highlighted that Hong Kong’s combined strengths in financial services and innovation provide a strong foundation for businesses seeking to expand. develop. As a major financial center, the city offers advanced infrastructure and…

– Advertisement – Tenity VC’s Climate Fintech 2024 report highlights Estonia as a global leader in climate fintech, showcasing remarkable growth, innovation and resilience in a rapidly evolving sector. The report reveals Estonia’s exceptional performance, with the country leading on several key indicators, including the number of climate fintechs per capita and the rate of female founders. For the third year in a row, Tenity analyzed a comprehensive database of more than 750 innovative startups, providing global insights into funding, founder demographics and market trends. The 2024 edition specifically highlights Estonia’s dynamic contributions to climate fintech, highlighting the country’s success…

THE Global FinTech Festival 2024 ended on August 30 with a speech by Prime Minister Narendra Modi. He praised the role of the fintech industry in the digitalization of economy and further encouraged innovation in the sector. The event coincided with the 10th anniversary of the Prime Minister Jan Dhan Yojana (PMJDY), which PM Modi highlighted as a significant achievement in financial inclusionThere are now over 530 million PMJDY accounts, each with an average balance of over Rs 4,300.Addressing the gathering, the Prime Minister said the country’s economy and markets were in a celebratory mood at a time when the…

According to Lloyds, two out of three financial institutions are already investing in AI. Find out why at Finextra’s inaugural NextGen: AI event in November.EditorialThis content was selected, created and edited by the Finextra editorial team based on its relevance and interest to our community. Join us on November 26 at NextGen: AI in Londonwhere we will discuss the impact and future of AI in financial services with the industry’s most prominent thought leaders.According to LloydsAccording to the latest banking sentiment, there has been a significant change in attitude towards AI over the last year. Greater adoption and greater recognition…

The impact of technological innovations in Southeast Asia is visible across various sectors, including e-commerce, fintech, manufacturing, and education. Countries like Vietnam, Indonesia, Thailand and the Philippines are seeing an increasing emphasis on digitalization. automationand AI-based solutions.This transformation has not only improved productivity, but also opened up new economic opportunities. For example, Vietnam’s digital economy accounted for 16.5% of its GDP in 2023, a milestone reflecting the role of technology in driving economic growth in Southeast Asia.E-commerce platforms, enabled by technological advancements, have revolutionized retail in the region, creating millions of jobs in Southeast Asia. Companies such as Lazada, Shopee…

(Bloomberg) — Deutsche Telekom AG said it plans to offer a buyback program of up to 2 billion euros ($2.2 billion) in 2025 and will rely on artificial intelligence to become more efficient over the next three years.Most read on BloombergEurope’s largest telecommunications operator will also propose a dividend of 90 cents per share for the 2024 financial year, up from 77 cents last year, the company said in a statement released Thursday ahead of the capital markets day. The share buyback program for next year follows a similar buyback of 2 billion euros in 2024.Deutsche Telekom is outperforming its…

Innovate Finance has revealed plans to shine a spotlight on fintech startups across regions across the UK with a new pitch initiative. The City of London Corporation-backed organization is to deliver a series of regional pitch events over the next 12 months across the North, South West, Midlands, Scotland, Ireland and Wales . As part of a project called ‘Pitch360: Across the UK’, the events will see entrepreneurs pitch their new business solutions to a live audience and a panel of high-profile industry judges. Applicants will be asked to show how their innovation can drive growth and transform financial services…

OpenAI is currently facing significant financial challenges. For example, in 2023, it was reported that to maintain its infrastructure and run its flagship product, OpenAI paid approximately $700,000 per day. However, by 2024, the company’s total spending on inference and training could reach 7 billion dollarsdriven by increasing computing demands. This significant operational cost highlights the immense resources required to maintain advanced AI systems. As these financial burdens increase, OpenAI faces crucial decisions about how to balance innovation and long-term sustainability.Financial pressure and competitive pressure from OpenAIDeveloping and maintaining advanced AI systems is financially challenging, and OpenAI is no exception.…

SUMMARY ToneTag is in preliminary discussions with Iron Pillar to raise at least $50 million in a combination of primary and secondary stock sales. The transaction is expected to see the startup’s valuation more than double from its last valuation of $100 million. Founded in 2013 by Vivek Singh and Kumar Abhishek, ToneTag provides audio authentication and proximity payment solutions for online and offline commerce. Offline mobile payments startup ToneTag is reportedly in early-stage talks with Mumbai-based venture capital growth investor Iron Pillar to raise at least $50 million (around INR 420 Cr) in ‘a combination of primary and secondary…

The financial services industry is currently experiencing a wave of enthusiasm around artificial intelligence (AI), but not all industry leaders are convinced of its purported successes. At a recent technology event in London, Edward J. Achtner, head of generative AI at HSBC, expressed concerns about what he called “exaggerated success stories” regarding AI applications in the banking sector, as detailed in a CNBC report. His remarks come at a time when many companies are claiming significant efficiency gains and cost reductions from their investments in AI.Achtner’s comments were made during a panel discussion at the CogX Global Leadership Summit, where…