And we’re kicking off the week with new analysis and opinions on fintech with banking, Artificial Intelligence, ESG, crypto, and more. Dive into the latest fintech insights and have a great start to the week!
ChatGPT: Can China overtake the US in the AI marathon? (BBC)
Artificial intelligence has emerged as enough of a concern that it made it onto what was already a packed agenda at the G7 summit at the weekend. Concerns about AI’s harmful impact coincide with the US’ attempts to restrict China’s access to crucial technology. For now, the US seems to be ahead in the AI race. And there is already the possibility that current restrictions on semiconductor exports to China could hamper Beijing’s technological progress. Read more
How to Capitalize Data in the Insurance Industry? (NTT Data)
Data is the fuel of today’s Insurance industry. Personalized products and experiences, better understanding of the policyholders, greater precision in underwriting and claims management process. In all the areas of the Insurance value chain, data must be present, actionable and real-time. Undoubtedly, there are several points of view when concerning this matter. From those who bet over a great disruption of these technologies and promote them actively, to those who, from other perspectives, think that these innovations conflict with the rol of human beings in today’s society: new ways of working, mechanization or industrialization of different processes, etc. Read more
The next challenge for VCs: measure your portfolio’s science-based impact (Tech EU)
In this op-ed, Annu Nieminen, founder of Upright, a Helsinki-based company that builds an AI-enabled impact data engine discusses the shift in, and responsibilities of ticking the sustainability box. Startups have a fairly nice reputation when it comes to impact and sustainability. They don’t usually have big nasty factories or harvest tobacco. They disrupt old ways of working and employ young people. They must be “impact superheroes”, right? Not quite. As sustainability has entered every business conference program and every other VC’s “differentiating factors” list, criteria for what qualifies as good impact is also changing. Read more
Digital euro could smoothly integrate into payments landscape – Nexi (Finextra)
A digital euro could be smoothly integrated into the existing European payments landscape while leaving ample scope for innovative features and technologies, testing from the ECB and Italian outfit Nexi has shown. While a final decision on issuing a digital euro has yet to be made, the ECB has been busy investigating options ahead of a potential launch, which would come in 2026 at the earliest. Roberto Catanzaro, chief business officer, merchant solutions, Nexi, says: “An engaging user and merchant experience is paramount to ensure wide adoption of the digital euro and we have brought our best expertise in both acceptance and mobile payments technologies to set a clear way forward.” Read more
How to regulate AI? (The Finanser)
European Union and United States diplomats are meeting today, for the fourth time, to work out how to regulate artificial intelligence (AI). The EU Commission expects agreement in the European Union this year on the first AI law, in what some see as a global race to manage these new technologies. The key is how to regulate them effectively? Regulating AI is a complex and evolving task that requires careful consideration of various factors. Here are some key considerations and approaches that can be taken to regulate AI. Read more
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