Monthly Tech Bites #30 | AI Regulations, AI Waves #9, GPT-4o, Your Professional Growth, and The Key to AI in Fintech

Hello there!?

As we approach the end of another month, I want to share the latest AI news and shed light on some under-the-radar but impactful AI insights that can shape the future of this technology. From the unveiling of OpenAI's groundbreaking GPT-4o to exploring crucial AI regulations, there's a lot to discuss!

In addition, we will dive into how your perspective on Generative AI might be constraining your professional development and share key strategies for successful AI implementation in fintech.

Lastly, don't miss Miquido 's upcoming AI Waves #9 webinar!

Agenda:

?? The AI regulations that aren’t being talked about

?? AI Waves #9 live webinar with insights on the EU AI Act

?? Is your mindset about Generative AI limiting your professional growth?

?? The key to successful AI implementation in fintech?

?? OpenAI unveils the newest AI model. Hello GPT-4o!

Ready? Let's dive in!?

The AI Regulations That Aren’t Being Talked About

Deloitte’s recent analysis provides a comprehensive look at over 1,600 AI policies from 69 countries and the EU. The study highlights a surprising trend: most countries are following a similar path in AI regulation, focusing on understanding, growing, and then shaping the technology. This approach underscores the importance of leveraging existing regulatory tools, such as data privacy and cybersecurity laws, to guide AI development. By focusing on outcomes rather than the technology itself, governments can foster innovation while protecting public interests. This strategic oversight opens new opportunities for balanced and effective AI governance.

If you're interested in learning more about AI regulations, register for the AI Waves #9 webinar! On June 20th, we will explore the European Union's AI Act and its implications for business. Scroll down for the webinar’s details! ??

AI Waves #9 | Unlocking the EU AI Act: Practical Insights for Your Business

Is your business prepared for the new compliance landscape?

The first regulations of the EU AI Act may come into force in just 6 months. This regulation sets strict guidelines for how companies can develop, deploy, and use AI within Europe. Don't get left behind - register for AI Waves #9 for an in-depth panel discussion with experts who will break down the critical aspects of the new regulations and what you need to do to stay compliant.

Join me during AI Waves #9 for an insightful panel discussion featuring:

?? Cornelia Kutterer - Public Policy and Government Affairs Professional and Managing Director at Considerati

?? Ansgar Koene - Global AI Ethics and Regulatory Leader at EY

Here’s what you will learn:

• - the EU AI Act's pivotal provisions and business implications
• - practical guidance on implementing robust AI governance and ensuring compliance
• - real-world case studies spotlighting successful compliance frameworks

Secure your spot now. Can’t wait to see you there!

Is Your Mindset About Generative AI Limiting Your Professional Growth?

Despite the immense publicity surrounding generative Artificial Intelligence over recent months, many people continue to hold on to misconceptions about its capabilities, usefulness, and potential impact. Some see it as a passing fad or a threat to human creativity. For young professionals, this presents a dilemma: Should you embrace AI as a tool for career growth or stick to traditional skills and paths?

Just like the internet boom of the 1990s, early adoption of GenAI can offer substantial advantages. By understanding its potential and limitations, you can leverage GenAI to stand out in your field. Are you ready to harness the power of GenAI for your career? Check out this article to see if your mindset is limiting your professional growth!

The Key to Successful AI Implementation in Fintech?

By 2023, AI services were no longer reserved for global corporations but were also being adopted by SaaS businesses, fintech startups, and mid-sized banking companies. AI systems offer personalised, prompt, and adequate answers tailored to financial business requirements, analysing vast amounts of historical data to provide transaction histories and identify emerging trends in fraudulent activities. AI can automate traditional credit assessment methods, speeding up loan approvals and reducing operational costs.?

A standout example is Nextbank , a forward-thinking financial institution that partnered with Miquido to integrate AI technology into its credit scoring processes. With a 97% prediction accuracy, this AI system identifies high-risk loans and boosts profits. Deployed in several Asian banks, it has processed over 500 million loan applications, demonstrating AI's transformative impact.?

Ready to fuel your business growth with AI? Download the expert publication dedicated to AI-based solutions in fintech.?

OpenAI unveils the newest AI model. Hello GPT-4o!

OpenAI's latest model, GPT-4o, is set to significantly enhance business operations with its advanced capabilities and cost efficiency. This model offers twice the speed, half the cost, and five times higher rate limits compared to GPT-4 Turbo. It accepts inputs in text, audio, image, and video, and generates outputs in text, audio, and image, making it highly versatile for business applications. With response times as fast as 232 milliseconds, GPT-4o provides a more natural human-computer interaction. Its improved performance in non-English languages, vision, and audio understanding makes it an invaluable tool for businesses looking to innovate.?

The question you should be asking yourself now is: How will your business leverage GPT-4o to stay ahead in the AI race? This sounds exciting to me!?

Click the link to read more about the new OpenAI’s flagship model.?

That’s it for today.?

If you want to keep up with the latest news on AI and be a part of the exciting world of technology, ride this innovation wave with me and my Miquido AI Crew by joining our newsletter! ??