To conduct the business of lending, banks employ credit risk processes – initial assessment, in-depth assessment leading to accept or reject decision, periodic review of loan performance and reporting. These processes expose banks to several frauds, referred to as "credit risk process fraud." Key categories of CRPF are misappropriation of funds, manipulation of data by borrowers and third-party providers, deviations from procedures and manipulation of reports. Efficient management of CRPF is vital for banks. Conversely, many banks do not provide commensurate importance to CRPF in terms of governance, clear definition to segregate it from frauds in credit operations and other related ones, infrastructure in terms of data, fraud investigation, systems, and automation.

Keelvar, a global pioneer of intelligent sourcing and automation solutions, announced it has raised $24 million in Series B funding to simplify and radically improve procurement, the world's most inefficient trillion-dollar marketplace. Keelvar's sourcing technology – which leverages AI, data science and smart sourcing bots that run on autopilot – empowers customers to make crucial supply chain decisions quickly and confidently amidst ongoing change and disruption. Costs are out of control, capacity is scarce and disruptions are everywhere. This dynamic makes it incredibly difficult for buyers and suppliers to remain agile, manage risk and strike deals" The investment – which brings Keelvar's total capital raised to $43 million – was led by 83North. Series A investors Elephant, Mosaic and Paua doubled down on their investment. Bastian Nomichacher, the co-founder and co-CEO of Celonis, also joined as a minority investor. Keelvar's Series B builds off a period of rapid growth and expansion for the company, which increased its headcount by 200% since the start of 2021 and grew ARR by 113% last year. Costs are out of control, capacity is scarce and disruptions are everywhere. This dynamic makes it incredibly difficult for buyers and suppliers to remain agile, manage risk and strike deals," said Alan Holland, founder and CEO of Keelvar.

Covid-19 has focused businesses more and more on their supply chains, said fast-emerging Cork business Kwayga's CEO Martin Fitzgerald. "Right now, businesses are seeking new solutions to help buyers diversify their suppliers, and suppliers to diversify their markets." Kwayga is a B2B matching platform for buyers and suppliers in the food sector designed around trust and security. Using the platform buyers and suppliers discover, verify, match, connect, communicate in any language and trade. "Kwayga focuses on democratising international trade for mid-sized businesses by putting the right buyers with the right suppliers at the right time. Trust is the key component. We use AI to verify company profiles, we protect buyers from unsolicited approaches by giving them strong privacy controls, and we make a promise to suppliers that the deals posted on our platform are from real verified buyers."

By some estimates, the world generates 2.5 quintillion bytes of data every day. Yet only a sliver of that volume, much of it residing on enterprise servers, is fully leveraged to drive a deep understanding of the enterprise and how to improve it. What value lies untapped within all that data? As business leaders grapple with these questions, they rely increasingly on emerging cognitive technologies like artificial intelligence, machine learning and blockchain. When these technologies are coupled with cloud-based multi-enterprise networks, thought-leading companies are able to unearth, analyze and act upon critical insights across business lines and foster the emergence of intelligent enterprises.

Today is the slowest business will ever run. In today's world, it is the small companies that beat the large enterprises with speed and agility, according to Valerie Blatt -- Global Vice President SAP. Companies such as Spotify are forcing incumbents such as Apple to change their music business. Therefore, for the organisation of tomorrow to remain relevant, they need faster, better and more intelligence. Last month, I was invited to join SAP Ariba Live in Barcelona.

Today is the slowest business will ever run. In today's world, it is the small companies that beat the large enterprises with speed and agility, according to Valerie Blatt – Global Vice President SAP. Companies such as Spotify are forcing incumbents such as Apple to change their music business. Therefore, for the organisation of tomorrow to remain relevant, they need faster, better and more intelligence. Last week, I was invited to join SAP Ariba Live in Barcelona.

Artificial intelligence, machine learning and deep learning are everywhere, and they are ushering in momentous change, altering the way we shop for and consume goods and services in our personal lives. They are also having a tremendous impact on businesses -- particularly in the way that buying and selling get done. So what exactly are these technologies? Among the most promising and fast-developing applications of AI is machine learning. And just as its name suggests, it is where computers learn to perform tasks without having been programmed specifically to do them.

Artificial intelligence, machine learning and deep learning are everywhere, and they are ushering in momentous change, altering the way we shop for and consume goods and services in our personal lives. They are also having a tremendous impact on businesses – particularly in the way that buying and selling get done. So what exactly are these technologies? Among the most promising and fast-developing applications of AI is machine learning. And just as its name suggests, it is where computers learn to perform tasks without having been programmed specifically to do them.

SAP Ariba unveiled an AI-powered assistant named Procurement today to speak with buyers and suppliers about orders in a conversational interface. The announcement was made onstage at SAP Ariba Live conference in Las Vegas. "Through its bot, the company plans to enable buyers and suppliers to converse with their SAP Ariba applications much as they would Siri or Alexa," the company said in a statement shared with VentureBeat. "Leveraging machine learning, the bot will be able to train and learn about a user's preferences and a company's policies and procedures and guide actions in line with them to reduce errors and speed processing." The Procurement bot will be part of "a portfolio of bot applications that SAP is developing by the end of the year," SAP said in a statement.