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Swift and member banks have initiated AI-driven anti-fraud pilots to combat cross-border payments fraud. The experiments aim to leverage AI technology to enhance fraud detection and save the industry billions in fraud-related costs. Swift is working on an anomaly detection model to strengthen the ecosystem and improve payment controls services.
The collaboration involves using historical patterns of activity on the Swift network to create a more accurate picture of potential fraud. Leading financial institutions like BNY Mellon, Deutsche Bank, HSBC, and others are part of the experiments to test advanced AI technology for data analysis. These pilots align with global standards and aim to reduce fraud in the financial industry significantly.
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Isomorphic Labs, the AI drug discovery platform that was spun out of Google's DeepMind in 2021, has raised external capital for the first time. The $600
How to level up your teaching with AI. Discover how to use clones and GPTs in your classroom—personalized AI teaching is the future.
Trump's Third Term? AI already knows how this can be done. A study shows how OpenAI, Grok, DeepSeek & Google outline ways to dismantle U.S. democracy.
Sam Altman today revealed that OpenAI will release an open weight artificial intelligence model in the coming months. "We are excited to release a powerful new open-weight language model with reasoning in the coming months," Altman wrote on X.
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