The advent of cloud computing has brought about a fundamental shift in the digital landscape, offering unprecedented benefits such as agility, scalability, and efficiency to organizations and individuals alike. Central to its transformative power is the provision of computational resources over the Internet, drastically reducing the need for local servers. As a result, businesses can experience a significant reduction in
The state of global insurtech funding by the end of the third quarter of 2024 reveals a nuanced picture of growth, challenges, and opportunities in the insurance technology landscape. Insurtech, which refers to employing innovative technology to enhance and disrupt traditional insurance services, has been a focal point for investment and development. By the end of Q3 2024, the sector
In a notable achievement that underscores the growing importance of digital finance in Southeast Asia, Funding Societies has secured an impressive credit facility surpassing $100 million from HSBC’s ASEAN Growth Fund. This marks the third consecutive credit line extended by HSBC since 2022, reflecting a sustained commitment to supporting digital finance platforms addressing the needs of micro, small, and medium
Intel has recently unveiled its future plans for its CPU and GPU lineups, focusing on the next-generation Arc GPUs and upcoming Panther Lake and Nova Lake CPU series. This announcement follows the company’s Q3 2024 earnings report, where CEO Pat Gelsinger outlined a strategic path aimed at revitalizing Intel’s product portfolio and boosting overall revenues. Shifting Away from On-Package Memory
Melio, an accounts payable and receivable platform catering to small and medium businesses (SMBs), has secured $150 million in a strategic Series E funding round led by Fiserv, with participation from Shopify Ventures and Capital One Ventures. This significant investment has propelled Melio’s valuation to an impressive $2 billion. Over the past three years, Melio has seen a dramatic ten-fold
Recent pronouncements from industry leaders are likening the burgeoning artificial intelligence (AI) market to the precarious dotcom bubble of the 1990s. Robin Li, head of Baidu, suggests that an overwhelming majority of AI startups are destined to fail. Li has starkly warned that 99% of these startups are likely to collapse, with only a select few achieving meaningful economic and
Runway, a New York City-based startup at the forefront of AI video generation, has recently launched advanced AI camera controls for its Gen-3 Alpha Turbo video generation model, marking a significant milestone in the industry. This company has garnered substantial support from tech giants like Google and Nvidia, securing its position in the competitive landscape of AI video generation. With
OpenAI has officially launched a new search feature within ChatGPT, named SearchGPT, positioning the company to better compete with leading search engines such as Google, Microsoft’s Bing, and Perplexity. This new feature is driven by real-time web searches and partnerships with various news and data providers, enabling users to access up-to-the-minute sports scores, stock quotes, news, weather updates, and more.
The year 2024 has witnessed a remarkable surge in artificial intelligence (AI) investment, even as the broader investment market experiences a downturn. This trend underscores the confidence and resilience investors continue to display in this innovative sector. Despite an overall decline in the investment market, AI investments have not only grown exponentially but have also outperformed other sectors significantly. The
AI startup founders are increasingly turning to an innovative blend of multiple foundational models and modern talent strategies to navigate the dynamic tech landscape. According to a recent survey, over half of these visionary entrepreneurs are employing four or more foundational models—demonstrating a strategic shift towards diversification. Nearly 90% are utilizing versions of GPT, while others favor models like Llama
Helsinki-based DataCrunch, a rising star in the cloud infrastructure sector, has successfully raised €13 million in seed funding to expand its AI-optimized cloud computing services throughout Europe. This significant influx of capital was led by byFounders, with participation from renowned investment firms such as J12 Ventures, Local Tapiola, and Nordea. The funding positions DataCrunch to enhance its infrastructure by integrating
Artificial intelligence (AI) is no longer just a buzzword discussed in tech circles. Today, AI agents are transitioning from theoretical concepts to practical applications within enterprises, fundamentally changing how we work. An analysis from Gartner emphasizes the growing role and potential of these AI agents, while also acknowledging the challenges they bring. As AI technology matures, it is moving beyond
