AI
Databricks Secures US$1.6 Billion in Series H Fundraise at US$38 Billion Valuation
Databricks, a US-based enterprise software company, announced that it has raised US$1.6 billion during a Series H funding round at a US$38 billion valuation. This new round brings Databricks’ total funding to almost US$3.6 billion, and will be used to
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Legaltech: Experts Forecast Rising Adoption of AI, Analytics in 2021
COVID-19 has accelerated the use of digital tools and platforms in the legal industry, further increasing adoption of legal technology, or legaltech. For many attorneys and legal technologists, 2021 will see more companies embrace artificial intelligence (AI) and analytics, amid
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AI to Unlock US$1T of Additional Value Each Year for Banks: McKinsey
For global banking, artificial intelligence (AI) could potentially deliver up to US$1 trillion of additional value each year, boosting revenues through increased personalization of services, lowering costs through efficiencies, and uncovering new and previously unrealized opportunities through the use of
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3 Key AI Capabilities for Asset Management Applications
Artificial intelligence (AI) is rapidly being adopted across the financial landscape. In asset management, applications of AI are articulated around the technology’s key inherent capabilities: the ability to conduct repetitive tasks efficiently; the ability to extract information from unstructured data
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PXL Vision Secures CHF 4.6 Million Seed Financing Led by SIX Fintech Ventures
ETH spin-off PXL Vision has developed an AI-based software platform to deliver secure, automated identity verification. The company has now received CHF 4.6 million in a seed financing round to expand its technology and grow internationally. The financing round was
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Microsoft Announces $1.5 Billion Investment Plan to Accelerate Digital Transformation in Italy
Microsoft announced a $1.5 billion, five-year investment plan in Italy, marking a significant commitment to support local innovation and growth, including the intent to bring Microsoft’s first datacenter region to the country. The plan “Ambizione Italia #DigitalRestart” builds on the
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Onfido Secures $100 Million to Set New Identity Standard for Digital Access
Onfido, a global identity verification and authentication company, announced that it has raised a $100 million round of funding from new and existing investors, including TPG Growth. This brings the total investment in Onfido to $200 million and accelerates the company’s
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AI Driven Fintech Completes Funding Round Led by Temasek and Kuehne+Nagel’s VC Firm
Previse, an artificial intelligence and data science fintech that gets suppliers paid instantly, announces an USD11 million funding round led by Reefknot Investments and Mastercard, with participation from existing investors Bessemer Venture Partners, Hambro Perks and Augmentum Fintech. Reefknot is
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Finantix Acquires a Swiss AI-Wealthtech Company
Finantix, a global tech provider to the wealth management, insurance and banking industries, announced the execution of a binding agreement for the acquisition of InCube Group AG. The Zürich-based firm boasts an interdisciplinary team of Artificial Intelligence (AI) specialists, quant
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European Commission Unveils AI, Data Strategy
In a whitepaper released last month, the European Commission (EC) unveiled its strategy to promote the development of artificial intelligence (AI) in Europe whilst ensuring the respect of fundamental rights. The whitepaper outlines the institution’s plan to develop what it
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