??? Don't get left behind
Arjun Vir Singh
Curious about the Future of Finance & Tech | Partner @ Arthur D. Little | Podcast???Host | Angel??Investor | Author ?? | LinkedIn Top Voice ???| Confused ???? father to ???? | All views on LI are personal
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Now let’s dive in.
The Background
Today’s State of Affairs
What Comes Next?
Be sure to read the full report to get deeper insights into the 11 tech trends leading 2023.
Which of these do you think will affect your everyday life the most?
?? Fintech & Payments
? Korean messaging and internet giant Kakao's online payment service, Kakao Pay, has acquired a 19.9% stake in US brokerage firm Siebert Financial for $17 million.
? African mobile money platform Wave has launched in Gambia with the aim of expanding financial inclusion in the country, following successful operations in Senegal, Uganda, and C?te d'Ivoire.
?? The World of Web3
? Meta's Reality Labs unit reported a $3.99 billion operating loss in the first quarter of the year, with a total loss of $13.72 billion last year.
?? Crypto & Defi
? Coinbase has sued the U.S. Securities and Exchange Commission over a rulemaking petition it filed months ago.
? Bankrupt crypto lender Voyager Digital announced that Binance.US has terminated its $1 billion asset purchase deal and that it will return the value to customers through direct distribution.
? Islamic Coin, the world's first Sharia-compliant cryptocurrency, is set to launch in May 2023 and will be integrated with payment providers later in the year.
?? The Future is AI
? Google has unveiled Cloud Security AI Workbench, a new cybersecurity suite powered by a specialized “security” AI language model called Sec-PaLM at the RSA Conference 2023.
? OpenAI's CEO, Sam Altman, believes that the era of large AI models, such as ChatGPT, is over and that new AI research strategies will be necessary for future advancements.
? UAE Government launches 'Generative AI' guide to facilitate AI technology adoption among government entities.
? Chubb's CEO Evan Greenberg revealed that the insurance giant is set to roll out AI tools at scale for various purposes ranging from underwriting to customer service.
领英推荐
?? Report of the Week
Metaverse-as-a-Service by LAMINA1: LAMINA1's latest report explores their Metaverse-as-a-Service concept, offering turnkey services to build virtual worlds at scale for builders, creators, and end-users. The report emphasizes an open metaverse, free from the limitations of proprietary tech and business models, where creators have the freedom of choice in tools used to build and content can be shared across multiple platforms. The report also discusses the need for the integration of blockchain technology with 3D systems to ensure maximum interoperability and fair compensation for creators. LAMINA1 showcases their vision for an open metaverse built on standards, accessible to all, and enabling a level playing field for everyone in the ecosystem. Read the full report here.
What do you think about the future of the open metaverse? ??
?? Books I Recommend
Impromptu: Amplifying Our Humanity Through AI by Reid Hoffman with GPT-4
Check out more of my favorite reads here.
?? In Other News…
? App Store Policies: Apple has won an antitrust court battle with Epic Games over its App Store policies, which restrict app distribution to the App Store and require payments to go through its own processor.
? Amazon Layoffs: Amazon is laying off HR and cloud computing workers in a new round of job cuts expected to impact 27,000 roles globally.
? Lyft Layoffs: Rideshare company Lyft is laying off 1,072 employees (26% of its staff) and scaling back hiring plans to cut costs amidst challenging economic conditions.
? Payments: US appeals court upholds ruling allowing developers to offer links outside of Apple's App Store, which will allow developers to avoid paying sales commissions to Apple.
? Employment: World Economic Forum's new report predicts that 83 million jobs will disappear while 69 million new jobs will be created by 2027, resulting in a net loss of 14 million jobs or 2% of current employment.
?? The Podcast for Fintech Enthusiasts
In this week's episode, I talk to Madiha Sattar , VP of Careem Pay, to talk about Careem Pay's mission to become the leading digital financial services provider in the Middle East. Careem Pay offers a comprehensive suite of fintech products, including a peer-to-peer money transfer service and international remittance. We explore building a fintech ecosystem in the Middle East, geographic expansion plans for Careem, and the problem of diversity in fintech. Tune in to learn how Careem Pay is shaping the fintech landscape and driving innovation in the Middle East.
?? This Week on Payments
??? And that brings us to the end of today’s Crunch
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?? Policymakers, founders, financial services executives and investors! Join me in the Inclusive Fintech Forum happening this summer.
Get a 20% discount to join using this code: IFF20.
Register now by clicking here. Hope to see you in Kigali, Rwanda.
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Chief Marketing Officer | Product MVP Expert | Cyber Security Enthusiast | @ GITEX DUBAI in October
1 年Arjun, thanks for sharing!
Realtor Associate @ Next Trend Realty LLC | HAR REALTOR, IRS Tax Preparer
1 年Thanks for sharing.
Thank you to our sponsors?Adyen,?ToYou | ????,?Visa,?geidea, and?M2P Fintech?for making today's edition possible. Who was mentioned in today’s edition:?CB Insights | Klarna | Starling Bank | Breathomix | The eNose Company | Koniku | Kakao Corp| ????? (kakaopay) | Wave Mobile Money | Meta | Coinbase | Voyager | Binance.US | Islamic Coin | OpenAI | Chubb | LAMINA1 | Apple | Amazon | Lyft | World Economic Forum | Careem