Columbus
PYMNTS
Amazon Recruits Execs From Adept for AGI Effort
Amazon has reportedly hired executives from Adept AI for its artificial general intelligence (AGI) project. David Luan, Adept’s co-founder and CEO, is set to join Amazon’s AGI autonomy team, Bloomberg News reported Friday (June 28), citing an internal memo. The report said four other Adept co-founders and an undetermined number of other workers will also join the team.
Swipe Fee Settlement Judge Says $30 Billion Agreement Is ‘Paltry’
Last week, a federal judge rejected Visa and Mastercard’s $30 billion settlement with merchants. Now, new court filings provide more detail about U.S. District Judge Margo Brodie’s rejection of the deal in the decades-old litigation between the two payments giants and retailers over credit card “swipe fees.”
AI Walks Into a Bar: The Quest for Artificial Humor
In a world where artificial intelligence (AI) can beat chess grandmasters and drive cars, researchers may face their toughest challenge: teaching machines to tell a good joke. As AI systems grow increasingly sophisticated, tackling everything from medical diagnoses to autonomous vehicles, a new frontier has emerged: humor. This isn’t just about programming machines to recite knock-knock jokes. It’s about creating AI that can understand, generate and deliver contextually appropriate humor in real-time interactions with humans.
AI Firms Aim to Build Engagement by Making Human-Like Chatbots
People are reportedly getting a little too friendly with chatbots. Some users are exchanging a high volume of messages with these artificial intelligence (AI)-powered tools and are in some cases attributing human-like qualities to the chatbots, Bloomberg reported Friday (June 28). “One of the ethical concerns is that while users...
CDK Global Hackers Tied to 96 Cyberattacks in Past Year
The hackers who struck car dealership software-as-a-service (SaaS) platform CDK Global on June 18 and 19 are reportedly affiliated with a Russia-based group called BlackSuit. This cybercriminal group has been tied to 96 extortion efforts since May 2023 and has likely committed dozens more, Bloomberg reported Friday (June 28). BlackSuit...
SEC Charges Web3 Firm Consensys With Unregistered Sale of Securities
The Securities and Exchange Commission (SEC) sued Consensys Friday (June 28), charging the blockchain and Web3 software company with engaging in the unregistered offer and sale of securities and with operating as an unregistered broker. These charges center on two services offered by Consensys Software: MetaMask Staking and MetaMask Swaps,...
This Week in AI: Transforming Accounting, Governance, Energy Efficiency and Tech Investments
The artificial intelligence (AI) revolution drives transformative changes across various sectors, from accounting and regulatory frameworks to energy efficiency and tech infrastructure. Venture capital firm Andreessen Horowitz reports AI’s potential to streamline accounting, while Google’s support for AI regulation highlights Big Tech’s call for responsible governance. Meanwhile, UC Santa Cruz...
Comfi Secures $5 Million Debt Facility to Expand B2B Payments
Dubai-based FinTech Comfi reportedly secured a $5 million debt facility to expand its B2B payment platform and support its launch of an embedded buy now, pay later (BNPL) solution. The funding will also facilitate $40 million in B2B transactions across the United Arab Emirates and Saudi Arabia over the next...
Australia Outpaces US in Online BNPL Adoption Nearly 3 to 1
As buy now, pay later (BNPL) options become more common around the world, the Land Down Under is leading the charge by a considerable margin. On Wednesday (June 26), PYMNTS Intelligence released this year’s edition of the “How the World Does Digital” report, which surveyed a whopping 67,000 consumers across 11 countries accounting for about half of the world’s gross domestic product about their digital engagement.
Beyond B2B: How Merchants Use LinkedIn to Reach High-Value Consumers
As businesses look beyond traditional marketing channels to reach and influence consumers, one surprising player that has emerged is LinkedIn, with merchants extending the platform beyond B2B into B2C. Amazon, for instance, has garnered a following of 31 million on the platform. The company posts about product updates, sales events...
This Week in Web3: Mt Gox Bitcoin and Crypto’s Future
The 2014 collapse of Mt. Gox served as one of the first, big crypto scandals. Over 100,000 creditors of the digital asset exchange lost over $9.4 billion worth of bitcoin — and now, nearly 10 years later, the exchange announced that it is (finally) set to start repaying its creditors in bitcoin (BTC) and bitcoin cash (BCH) as soon as July.
Six Flags Launches Roblox Metaverse Experience With Rewards Program
Six Flags, an operator of theme parks and water parks, has launched a metaverse experience on Roblox that includes a rewards program. The Six Flags Metaverse on Roblox offers virtual roller coasters, mazes and games, the company said in a Friday (June 28) press release. “Our goal is to create...
Uber and Lyft Settle Massachusetts Lawsuit, End Ballot Initiative
Uber and Lyft agreed to a settlement with the Massachusetts Office of the Attorney General, resolving the office’s multiyear litigation against the ridesharing companies. The settlement includes rules on wages, benefits and protections for drivers, the office said in a Thursday (June 27) press release. It also ends a ballot initiative concerning state employment law that Uber and Lyft supported.
Alicia Keys’ Amazon Collab Brings Star Power to Voice Economy
As consumers increasingly transact using voice-controlled devices, Amazon is partnering with Alicia Keys, harnessing her celebrity to boost Alexa adoption. The musical artist’s beauty brand, Keys Soulcare, created in collaboration with e.l.f. Beauty, announced Wednesday (June 26) that it is working with Amazon Alexa on an offering for Echo Device users. When they enable the custom theme, consumers hear words and music from Keys’ voice, including beauty tips and product information.
European Commission Takes Closer Look at Microsoft-OpenAI Ties
The European Commission is taking a closer look at the ties between Microsoft and OpenAI. The regulator is sending a follow-up request for information “to understand whether certain exclusivity clauses could have a negative effect on competitors,” European Commission Executive Vice President Margrethe Vestager said Friday (June 28) in a speech at the regulator’s workshop on “Competition in Virtual Worlds and Generative AI.”
Microsoft Reveals AI Security Flaw That Threatens eCommerce and Financial Services
A newly discovered security vulnerability in artificial intelligence (AI) systems could pose significant risks to eCommerce platforms, financial services and customer support operations across industries. Microsoft has unveiled details of a technique called “Skeleton Key,” which can bypass ethical safeguards built into AI models businesses use worldwide. “Skeleton...
Streaming Services Face Proposed New Tax in Philippines
Philippine lawmakers reportedly approved a bill that would tax foreign digital services, including streaming services like Netflix, HBO and Disney+. Having passed both the Senate and the House of Representatives, the bill will become law if signed by President Ferdinand Marcos Jr., Bloomberg reported Friday (June 28). The bill would...
AI Error Reduction Takes Center Stage as Tech Giants Unveil New Tools
In Silicon Valley, a new kind of proofreader is hard at work. It doesn’t wield a red pen or squint at comma splices. Instead, this digital detective, born from the same artificial intelligence it’s tasked to police, scans lines of code with inhuman speed, hunting for bugs that even the sharpest human eyes might miss.
Toys R Us AI Commercial Signals Shift in Retail Marketing
Toys R Us has unveiled what it claims is the first-ever brand film using OpenAI’s new text-to-video tool, Sora. However, creatives are criticizing the move, saying it could be a sign that artificial intelligence (AI) is encroaching on their territory. The short film, “The Origin of Toys R Us,”...
Target to Lower Threshold for Apprehending, Prosecuting Shoplifters
Target will reportedly lower the threshold at which store staff can attempt to stop nonviolent theft. In a new guideline expected to be implemented this summer, the retailer has dropped that threshold to $50 from the previous $100, Bloomberg reported Friday (June 28), citing unnamed sources. Asked about the change...
PYMNTS
44K+
Posts
91M+
Views
Online coverage of payments news and top industry trends. Insight and reporting on payments, commerce, FinTech and innovation.
Welcome to NewsBreak, an open platform where diverse perspectives converge. Most of our content comes from established publications and journalists, as well as from our extensive network of tens of thousands of creators who contribute to our platform. We empower individuals to share insightful viewpoints through short posts and comments. It’s essential to note our commitment to transparency: our Terms of Use acknowledge that our services may not always be error-free, and our Community Standards emphasize our discretion in enforcing policies. We strive to foster a dynamic environment for free expression and robust discourse through safety guardrails of human and AI moderation. Join us in shaping the news narrative together.