Top Innovations
Apple could build on bank balance display feature launched in the UK partnering Credit Kudos, with personalization, contextualization, and PFM
Apple recently announced the soft…
Google’s Search Generative AI Experience offers a conversational interface for teenagers with guardrails
Google is opening its generative…
Key News
Pega infuses AI into Pega Smart Dispute to streamline chargeback processes for retail banks
Pegasystems announced new enhancements in…
OpenAI gives ChatGPT access to the entire internet to provide current and authoritative info
OpenAI announced on X (formerly…
Wells Fargo’s virtual assistant, Fargo, expands capabilities with Spanish-language feature
Wells Fargo enhanced its Fargo…
PayPal’s study says nearly 60% of consumers want to manage savings via an everyday app
The “Consumer Interest in an…
U.S. Bancorp has identified a subset of customers who would rather use their card rewards to help out others
U.S. Bancorp has identified a…
Zimpler and Centiglobe combine instant A2A payouts with blockchain-based payment rails
Zimpler, a fintech company providing…
OneChronos, a technology company leveraging advances in auction theory and artificial intelligence to optimize financial markets. OneChronos operates Smart Market periodic auctions at the speed, scale, and resiliency required of the most demanding electronic capital markets. Starting with U.S. equities, these auctions optimize for “best execution,” fostering competition on transaction quality rather than speed. Launched in Q3 2022, the Company has so far facilitated more than $60 billion in institutional securities transactions, with volumes growing more than 35% month over month. Growth has been driven by strong execution performance, as evaluated by OneChronos’ network of over 45 banks, brokers, and dealers servicing thousands of asset managers for their electronic trading needs. The funds raised will help OneChronos expand to new markets and launch new products that allow additional strategy-level constraints within auctions. Doing so will unlock mutually beneficial trading opportunities missed by legacy auction and market formats, and further enhance potential execution quality of trading algorithms and workflows.
Tagado’s advances in AI and ML create a further gulf between competitors and the actionable customer insights it delivers from text-based customer feedback. These can be generated for any set of feedback using filters to target, for example, specific product areas, user types, date ranges, and more. Results are then tagged and clustered into groups, allowing teams to use insights to drive business excellence. Tagado’s granular, actionable CX data empowers businesses to answer fundamental questions, such as reasons behind customer churn, issues putting Annual Recurring Revenue at risk and top customer complaints. These types of questions can be answered in minutes, rather than the weeks or months of investigation using current methods, thanks to Tagado’s custom-trained NLP models, generative AI (integrated throughout the analytics process) and ML analysis.
Meta introduces Llama 2 Long, a new AI model based on Meta’s open source Llama 2 released in the summer, but that has undergone “continual pretraining from Llama 2 with longer training sequences and on a dataset where long texts are upsampled,” according to the researcher-authors of the paper. As a result of this, Meta’s newly elongated AI model outperforms some of the leading competition in generating responses to long (higher character count) user prompts, including OpenAI’s GPT-3.5 Turbo with 16,000-character context window, as well as Claude 2 with its 100,000-character context window. Meta researchers took the original Llama 2 available in its different training parameter sizes — the values of data and information the algorithm can change on its own as it learns, which in the case of Llama 2 come in 7 billion, 13 billion, 34 billion, and 70 billion variants — and included more longer text data sources than the original Llama 2 training dataset. Another 400 billion tokens-worth, to be exact. Then, the researchers kept the original Llama 2’s architecture the same, and only made a “necessary modification to the positional encoding that is crucial for the model to attend longer.”
LangStream is particularly useful in combination with vector database technologies in support of Retrieval Augmented Generation (RAG) operations where generative AI models are able to cite up-to- date data. As data is pulled into a model for RAG, each new piece of data needs to have a vector embedding generated so that it can be used in a vector database. With the real time nature of streaming data, there is a need to have embeddings created in a synchronous data pipeline, which is what LangStream aims to enable. LangStream is agnostic about which particular vector embedding model is used and can support multiple models today including open source models hosted on Hugging Face as well as Google’s Vertex AI. “A lot of what we’re doing is taking the pipeline streaming, event driven paradigm and we’re taking it to GenAI applications”.
Booz Allen Ventures, has made a strategic investment in HiddenLayer, a security platform that safeguards machine learning (ML) models. With increased AI adoption – specifically AI models deployed within mission critical systems – the risk surface increases for federal, defense, civil, national security and commercial users, with bad actors looking to exploit and accelerate cyber threats. The newly announced investment in HiddenLayer will complement and accelerate Booz Allen’s existing Adversarial AI capabilities. An attacker can look to generate and introduce small changes to a dataset that, although imperceptible to the human eye, can cause major changes to the output of an AI system. This includes a long-standing focus on addressing key challenges with model security, such as data poisoning, data leakage, model evasion, and malicious code injection. In addition, Booz Allen has also led advanced research to assess the adversarial image perturbation robustness for computer vision models and how manipulated tabular data can enhance the behavior evasive capabilities of Microsoft Windows malware.
The Chicago Bears will host the Denver Broncos at Soldier Field on Sunday, and as fans enter the stadium, there will be a unique and first-of-its-kind opportunity to take pictures with two of the team’s stars. The Bears are launching augmented reality technology outside the Ticketmaster gate. This will allow fans to take photos with augmented reality versions of quarterback Justin Fields and tight end Cole Kmet. The technology will be stationed next to the statues of Bears legends George Halas and Walter Payton. QR codes have also been installed by the statues, encouraging fans to learn more about the two greats. It’s estimated that 20,000 fans will enter through Ticketmaster Plaza on Sunday.
Built on theories of behavior economics, hyve aims to bridge the gap between social connections and financial growth. hyve makes saving money easier with automated and customizable savings rules unique to a customer’s specific savings goals. Customers can access socially-accelerated growth and save faster by adding friends, family, and others in the hyve community to their goals as supporters. When others support a goal, they can set their own automated rules to easily add to a savings goal, but they can also provide essential social support like accountability, motivation, and peace of mind for a saver. Customers can also connect with industry experts and join community groups within the hyve app to enhance their financial literacy and grow their overall financial wellness. hyve also provides customers with the trusted benefits of traditional banking. All savings accounts are FDIC insured up to $250,000 through hyve’s banking partners, and all investment accounts are SIPC protected for up to $500,000 through a partnership with Alpaca Securities LLC. Unlike traditional banking, hyve services are provided without minimums, monthly fees, or account fees.
A PYMNTS and Splitit study found that 60% of shoppers used installment plans to buy consumer products in the past year, with younger age groups exhibiting even higher usage rates. It is also interesting to note that installment plan use is not limited to specific income brackets. The widespread use of credit card installment plans among individuals with high incomes indicates a profitable potential for merchants, who can harness this trend to expand their market presence and capitalize on shifting consumer habits. By integrating installment plan offerings early in the shopping journey, merchants can enhance customer satisfaction and potentially influence purchasing decisions. In conclusion, the widespread adoption of installment plans by high-income earners is reshaping consumer behavior and challenging assumptions about credit use and income. Merchants have the opportunity to tap into this trend by adapting their offerings to meet consumer preferences, building trust and providing a seamless customer experience.
Sage, a provider of accounting and financial technology, has partnered with fintech Swoop, to provide SMBs and their trusted advisors with easy access to a wide range of funding opportunities. One of the key benefits of this partnership is the discounted price of the Swoop for Advisors platform for Sage accountants. This platform allows accountants and business advisors to easily access grants, equity investment, traditional and alternative loans, and business savings for their clients. In addition, with this collaboration, Swoop users can integrate their Sage Intacct and Sage Business Cloud Accounting software to uncover financial insights, unlock business savings and access tools such as cash flow forecasting. The partnership also aims to reduce business costs in areas such as energy, banking and foreign exchange. By leveraging their combined expertise, Swoop and Sage aim to help businesses identify cost-saving opportunities and streamline the funding process.
Powered by Precision AI, an enhanced advertising decisioning and machine learning AI, the upgraded solution delivers advanced automated insights for data-driven decisions with new capabilities to help sellers, brands and agencies scale and grow their businesses on Walmart’s website and app. The new Precision AI-powered solution builds upon Helium 10’s existing proprietary Adtomic advertising offering with new capabilities like streaming data updates to support faster decision-making, keyword opportunities and automated bid suggestions to further streamline campaign creation and optimization. The enhanced solution provides valuable real-time insights and tools to help optimize advertising performance, maximize ROAS and boost brand awareness.
WHP Global, the parent of Toys R Us has announced a partnership with Go! Retail Group to roll out Toys R Us flagship stores nationwide in the U.S. starting in 2024. Additionally, WHP Global plans to bring Toys R Us to the travel industry by introducing a new retail experience for airports and cruise ships. The first Toys R Us airport store is scheduled to open in November at Dallas Fort Worth International Airport, in collaboration with Duty Free Americas. This airport store will offer passengers the opportunity to shop for their favorite toy brands and exclusive regional merchandise. In addition to the airport expansion, Toys R Us is also designing a retail store for the cruise industry. This store will offer a wide range of toys and exclusive cruise-themed merchandise for children and families during their voyages.
Gelson’s is launching a new convenience concept. The specialty grocer, which operates 27 stores throughout Southern California, is partnering with electric vehicle-charging station developer Rove to provide food and beverage services at its new charging stations. Rove plans to build six locations in Southern California beginning this year, with 20 stations planned by 2026. The new concept, called ReCharge by Gelson’s, will offer a curated selection of foods, beverages and convenience items for Rove customers as well as neighborhood locals. The offerings will include beverages, hot and cold snack and meal options such as poke bowls and sushi, sandwiches and wraps, salads, charcuterie and cheese plates. A selection of dairy and frozen items will also be featured, along with staples such as snack foods, bread and non-grocery items.
In recent years, fashion and accessory brands have been planting their flags in the food and hospitality arena, investing in activations, pop-ups and partnerships designed to supercharge awareness and generate picture-perfect moments that will live on Instagram and TikTok feeds. “This isn’t just about luxury moving into hospitality,” explained Marta Indeka, senior foresight analyst at trends consultancy The Future Laboratory. “This is more about the boundaries of luxury melting.” Indeka recently helped pen a Future Laboratory report, Luxury Recrafted, and in the process coined a new term for these type of experiences: haute-spitality. Haute-spitality is all around. It’s Chanel’s green and pink Brooklyn diner, which recently served up fragrances instead of appetizers to mark the launch of the brand’s Chance Eau Fraîche perfume. It’s the Dolce & Gabbana beach club in Sicily or its Dior and Gucci rivals on the Côte d’Azur. It’s the Palazzo Versace hotel on Australia’s Gold Coast, and Dubai’s Armani hotel.
Google unveils its new Fitbit Charge 6 for $159, updating that current model with features to compete with the likes of Apple and Google, but at a lower price point. The Fitbit Charge 6 is more designed for someone who’s not looking for a full smartwatch, really doesn’t want all of the rigmarole of constant notifications. It will get you notifications for things like phone calls and text messages, things like that. But if you don’t want a deluge of notifications, then you might want to try something like this. It’s also, by the way, got seven days of battery life, compared to the Apple Watches or Samsung Galaxy Watch or Google Pixel Watch, which usually tap out after about a day of use. Fitbit have a 60% improved heart rate tracking capability on this. They didn’t change the sensor per se. They’ve updated the algorithm that tracks this.
Google is planning to launch an “all-in-one” subscription that will include Nest Aware, 2TB of storage for Photos, Drive & Gmail, and more benefits. The new subscription will likely cost more than the current 2TB Google One plan, but subscribing to the bundle will save money compared to paying for the services separately. It remains unclear if Nest Aware will be included in higher-tier Google One storage plans, and this change may cause pushback from Google One users who don’t have a use for Nest Aware.
Apple could make its own search engine and end its reliance on Google, with Apple already possessing most of the components it needs to go it alone. Using Google for search has been lucrative for Apple, with the search giant paying Apple billions to be the top search option in iOS. But while the arrangement being discussed in court is beneficial to Apple, there’s always a possibility of it deciding to go its own way. Apple could create its own search engine and create an Apple Watch-sized revenue stream with the sale of advertising. One that is a “long shot” from actually happening due to how the incentives of the Apple-Google deal line up, despite repeated rumors on the topic. However, Apple could earn more revenue than the Google deal by bringing search in-house. This possibility has helped Apple push to work on its own search technology, which helps on-device services but not web search.
More Innovations & Trends
Earlier this week, Pudgy Toys became available in over 2,000 Walmart stores across the U.S., opening the door to growth avenues outside the blockchain. The company is also launching its toys in Smyths, one of the biggest toy store chains in the United Kingdom, in a bid to augment its toy sales from Five Below, Amazon, Hot Topic and other retailers. The toy-focused expansion is Pudgy’s bet that NFTs should have a broader presence, one that’s not limited to the digital world. The effort ultimately stems from solving a couple problems that the industry is facing,. “If you’ve seen what has taken NFT projects to zero, [it] has been this Achilles Heel of wanting to drive revenue and having no other [option] than to make more NFTs, which [comes at] the expense of the greater community and project,”. Classic supply and demand dynamics are at play here. Akin to a company issuing more shares, minting more NFTs of a particular set can cause the individual value of those assets to fall. Simply creating more NFTs doesn’t necessarily mean that demand will rise commensurately for the entire set.
LUNCHABLES® became the first brand to launch a Rewarded AR Ads campaign after global AR leader Niantic revealed the new product at the Cannes Lions International Festival of Creativity this June. Rewarded AR Ads are a revolutionary new ad product available in Niantic’s popular real-world game Pokémon GO. With this ad format, players use their smartphone camera to interact with immersive branded content and access exclusive rewards from their favorite brands. Pokémon GO players can complete six unique builds using LUNCHABLES® iconic ingredients, including a scooter, seesaw, Eiffel Tower, helicopter, boat and picnic table. Players will be prompted to complete a build to unlock in-game items and can access even more in-game rewards by participating in the Playables rewards program.
Innovations & Trends
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