Financial Technology
Trump strikes a blow for AI – by firing the US copyright supremo
Sometimes it helps me to write by thinking about how a radio broadcaster or television presenter would deliver the information, so I'm your host, Blake Montgomery. Today in tech news: questions hover over the automation of labor in the worker-strapped US healthcare system; and drones proliferate in a new conflict: India v Pakistan, both armed with nuclear weapons. Meanwhile, in contrast to a thoughtful and robust conversation, the US is taking the opposite tack. Legend has it that Alexander the Great was presented with a knot in a rope tying a cart to a stake. So complex were its twistings that no man had been able to untie it of the hundreds who had tried. Alexander silently drew his sword and sliced the knot in two.
Meet the AI, crypto executive cozying up to Trump while also backing resistance movement: 'Won't be fooled'
Treasury Secretary Scott Bessent responds to economic uncertainty, breaking down President Donald Trump's fiscal and cryptocurrency goals on'My View with Lara Trump.' FIRST ON FOX: One of the major players in the crypto and artificial intelligence (AI) industries attempting to cozy up to the Trump administration is a longtime Democratic operative and donor who has backed anti-Trump efforts and candidates while working for companies stacked with Democratic activists. Chris Lehane, a veteran political strategist dating back to the Clinton administration, has donated over 150,000 to Democrats, FEC records show, and many of those Democrats have been outspoken Trump critics for several years. Lehane has been a major backer of Democratic Sen. Mark Warner, who voted to convict Trump during his impeachment trial in 2021 and against several of Trump's Cabinet nominees. He also hosted a San Francisco fundraiser for the Virginia senator, along with Open AI's Sam Altman, in March. Warner has been a key figure in the resistance to the Trump administration, including being a vocal critic of the Trump administration's "sloppy" Signal chat controversy and pushing back on the administration's DOGE push against waste, fraud and abuse in government.
Ready for AI-enhanced credit cards? Here's Visa's vision of automated shopping
AI has transformed everyday tasks such as writing, coding -- even shopping. Now, Visa is introducing an initiative to prepare its payment network for a new era of agentic AI shopping experiences. Earlier this week, the company unveiled Visa Intelligent Commerce at the Visa Global Product Drop. According to the release, this initiative opens Visa's payment network to developers and engineers who are building agentic AI shopping experiences that find and buy products for users. Also: Google's AI Mode may be the upgrade Search desperately needs - how to try it for free Moreover, Visa Intelligent Commerce is a commercial partner program for AI platforms that includes a suite of integrated APIs developers can use to deploy Visa's AI commerce capabilities.
Sam Altman-backed startup makes optical scanner to detect humans from AI
Have you ever wanted a mobile device designed solely to scan your eyeballs? No, that sounds a little creepy? Tools for Humanity, a start-up backed by OpenAI CEO Sam Altman, debuted the Orb Mini this week, a smartphone-sized device with two massive eye sensors on it. The hardware is part of the World project and app, a grand plan aimed at creating a global identification system. The idea is that these sensors, paired with a blockchain registry, could serve as a tool for verifying someone's humanity.
Sam Altman's Eye-Scanning Orb Is Now Coming to the US
Sam Altman's iris-scanning, identify-verification technology startup says it will begin expanding to the US starting May 1 and will launch a phone-like hardware device by next year. Those changes--and a promised World-branded debit card--signal the company's ambitions to develop a "super app"--a goal shared by Elon Musk. Altman and Alex Blania, a German physics researcher, announced at an event in San Francisco Wednesday evening that their venture-backed company, Tools for Humanity, is updating its "World" products to include a new, smaller, eye-scanning orb. The device-and-app combo scans people's irises, creates a unique user ID, stores that information on the blockchain, and uses it as a form of identity verification. If enough people adopt the app globally, the thinking goes, it could ostensibly thwart scammers.
Visa preps AI-ready credit cards for automated shopping transactions
AI has transformed everyday tasks such as writing, coding -- even shopping. Now, Visa is introducing an initiative to prepare its payment network for a new era of agentic AI shopping experiences. On Wednesday, the company unveiled Visa Intelligent Commerce at the Visa Global Product Drop. According to the release, this initiative opens Visa's payment network to developers and engineers who are building agentic AI shopping experiences that find and buy products for users. Moreover, Visa Intelligent Commerce is a commercial partner program for AI platforms that includes a suite of integrated APIs developers can use to deploy Visa's AI commerce capabilities.
7 simple ways to protect your credit cards while traveling
Travel expert Colleen Kelly shares the hottest travel destinations for this summer and provides tips for travelers planning a cruise. As you rush through busy terminals, juggling bags and boarding passes, your credit cards may be at risk, not just from pickpockets, but from digital thieves using high-tech tools like RFID (radio-frequency identification) skimmers. While today's chip-enabled cards are more secure than old magnetic stripes, it's still wise to take extra precautions, especially in crowded places like airports. Here's how to keep your cards protected while traveling. GET SECURITY ALERTS & EXPERT TECH TIPS – SIGN UP FOR KURT'S'THE CYBERGUY REPORT' NOW WHAT IS ARTIFICIAL INTELLIGENCE (AI)?
Tech CEO promised AI but hired workers in the Philippines instead, FBI claims
The former CEO of fintech app Nate has been charged with fraud for making misleading claims about the app's artificial intelligence technology -- or lack thereof. In a bizarre twist from the usual AI narrative, the FBI alleges that this time human beings were doing the work of AI, and not the other way around. According to a press release from the U.S. Attorney's Office, Southern District of New York, Albert Saniger has been indicted for a scheme to defraud investors. "As alleged, Albert Saniger misled investors by exploiting the promise and allure of AI technology to build a false narrative about innovation that never existed," Acting U.S. Attorney Matthew Podolsky said in the release. Government attorneys say Nate claimed to use AI technology to complete the e-commerce checkout process for customers.
Tech founder charged with fraud for 'AI' that was secretly overseas contract workers
The US Department of Justice has indicted Albert Sangier for defrauding investors with misleading statements about his Nate financial technology platform. Founded by Sangier in 2018, Nate claimed it could offer shoppers a universal checkout app thanks to artificial intelligence. However, the indictment states that the so-called AI-powered transactions in Nate were actually completed by human contractors in the Philippines and Romania or by bots. Sangier raised more than 40 million from investors for the app. This case follows reporting by The Information in 2022 that cast light on Nate's use of human labor rather than AI.
Sustainable broadcasting in Blockchain Networks with Reinforcement Learning
Valko, Danila, Kudenko, Daniel
Recent estimates put the carbon footprint of Bitcoin and Ethereum at an average of 64 and 26 million tonnes of CO2 per year, respectively. To address this growing problem, several possible approaches have been proposed in the literature: creating alternative blockchain consensus mechanisms, applying redundancy reduction techniques, utilizing renewable energy sources, and employing energy-efficient devices, etc. In this paper, we follow the second avenue and propose an efficient approach based on reinforcement learning that improves the block broadcasting scheme in blockchain networks. The analysis and experimental results confirmed that the proposed improvement of the block propagation scheme could cleverly handle network dynamics and achieve better results than the default approach. Additionally, our technical integration of the simulator and developed RL environment can be used as a complete solution for further study of new schemes and protocols that use RL or other ML techniques.