Artificial Intelligence
Webtel.mobi Describes Requirements for a Sector-Influencing System in USD 10 000+ Trillion P.A. Transaction-Volume Markets
ST PETER PORT, Guernsey and NEW YORK, Oct. 11, 2021 (GLOBE NEWSWIRE) — In response to multiple queries received, Global telephony Provider Webtel.mobi (“WM”) provides top-level comment on some of the strategic considerations taken into account when developing a Global Exchange Mechanism and Globally-Operational Digital Currency. A summary of these considerations is as follows:
Understand the Structure of the Global Financial and Economic Systems
The execution-level of the Global Financial and Economic Systems is extremely fractured, but its top-level is not. It is well coordinated at the top-level by a variety of international organizations. Knowledge of the top-level coordinating structures and the volumes in these systems will dispel much of the superfluous discussion that takes place regarding alternative or reform structures and processes. Some examples are:
- Cryptocurrencies that derive their value from applying Artificial Scarcity through limitation of coins volumes will only ever have maximum value within their systems of USD 1 Trillion to 1.5 Trillion. However, just global FX Gross Payment Obligations exceed USD 18.7 Trillion per day (X 260 = USD 4 862 Trillion per annum) – and this is just one of over 10 markets with daily volumes in the USD multi-Trillions. Cryptocurrencies therefore cannot provide an alternative to the current system from a volume perspective (details of the USD 18.7 Trillion per day FX Market Gross Payment are in the Resources section of this article).
- Discussions on proposed CBDCs disregard that the majority of all Central Bank Money is already Digital Currency. They also disregard that all Central Banks coordinate their actions under the auspices of the Basel Committee on Banking Supervision, so they do not pose threats to one another. There is therefore, in reality, no “Digital Dollar” versus “Digital Yuan” threat, or “race” to develop a CBDC (see details in the Resources).
Uninformed debate on these matters should be replaced with informed discussion and clear identification of what is being sought. What is being sought is global digitalization of all currency for both national and international utilization, in a seamless manner, that sees to multicurrency transference, payment, convertibility and redemption – via a functioning global exchange mechanism facilitating any transaction type to, in, or from any country, for States, Organizations, Companies or individuals, that replaces current digital and cash transactions – without destabilizing national economies or the global economy. This is what WM has created.
Attendance to Geopolitical and Geostrategic requirements takes precedence
Development of a globally usable Digital Currency gives access to astronomically large volumes of global market transactions. However, it simultaneously requires attendance to a correspondingly astronomically large number of requirements and responsibilities for the insurance of international stability. This requires satisfactory structuring of Geopolitical, Geostrategic requirements before one attends to the legal, regulatory, economic, financial, commercial, and technical requirements (which are also extraordinarily large in number and scope). This is one of the reasons that WM took nine years to complete its full operational testing to ensure these matters had been satisfactorily attended to.
Adopt an “Evolution not Revolution” approach
The current Global Financial System has multiple inefficiencies and deficiencies – but it nevertheless functions. It is moreover essential that it continues to function until an orderly transition to another system takes place – because if it does not, global anarchy and chaos will result. Merely calling for the current System’s dissolution without offering a functioning viable alternative serves no purpose. Therefore, it is better to examine and understand the causes of the current System’s negative and/or inefficient aspects, and then try to reform them in an evolutionary manner. This is what WM has done with the creation of its fully operational Global Financial System that operates in parallel to the existing system without destabilizing it. This provides for an orderly and voluntary transition to its use – on an elective basis – and does not introduce systemic stress.
Apply a 21st Century Mindset, Structures and Processes
The current Global Financial and Economic Systems functions according to a mindset based on the world as it was structured in (primarily) the 17th to 20th centuries – but primarily in the 19th Century. Moreover, the systems and processes it runs on are 20th Century systems and processes. However, this is the 21st century – and the 19th Century mindset and 20th Century systems and processes simply cannot cope. The problem is they literally cannot be stopped to be rebuilt or restructured. These Systems are like a person on a perpetual-motion treadmill. If the person stops running, he/she will fall. Similarly, if any of the legs of the prevailing Systems are stopped to rebuild or to be restructured, the entire system will fall. These Systems literally cannot stop – and so their existing structures cannot be reformed. This is one of the reasons why WM kept its user-group limited during its nine years of fully-operational testing – precisely so it would be able to shut down its platform 1 to be able to rebuild its Platform 2. With too many Members, it would simply not have been possible for WM to shut Platform 1 down due to legal and regulatory considerations, ongoing financial transactions of businesses and individual members, etc. However, due to its strategic decision, WM was able to shut down its Platform 1 and rebuild its Platform 2 to be completely optimized for 21st Century requirements.
Align with Regulation and Regulators
Often, Regulatory Regimes and Regulators are regarded as situations or entities to be avoided. The polar opposite is the case. A company must always sit firmly within an identified and confirmed sector and its identified and confirmed regulatory requirements – which it should stay within and not stray outside of. Similarly, close contact should be kept with all relevant Regulatory Agencies. They have decades of experience in ensuring market stability, and their experience is invaluable in assisting companies with advice and guidance. They are not opponents – they are a company’s greatest allies in advising against predictable issues before they arise. This is the approach WM has always followed.
Reduce potential corporate vulnerabilities
Provision of such essential services must be carried out from a sustainable and robust base, so there is no threat to the continuation of the essential services being provided. On a technical and operational level, WM ensured it is in a situation of zero-debt, decentralization of infrastructure to ensure continued operations in all circumstances, reduction of infrastructure and personnel requirements due to the use of a Complex Adaptive System for the majority of its operational, security and administration functions. On a corporate structure level, WM ensured it had no large corporate or institutional shareholders – being funded in totality by its founders and a small group of under 300 private shareholders. It also did not list on any Stock Exchange – despite obtaining eligibility to list on the main board of one of the world’s Top 5 Stock Exchanges in 2011. This is because the large Stock Exchanges are private companies, owned by companies that WM would potentially partially or fully disintermediate in respect of some of their other commercial operations. It would consequently be risky to be listed on an Exchange owned by them. Instead, WM has its own “Share Swap” Facility on its Platform, on which its shareholders and all qualified Members of WM can buy and sell WM shares among each other within an internal and non-public Members-Only Closed Loop system, as supervised by its Resident Agent firm. Therefore, WM’s corporate vulnerabilities have all been mitigated or removed.
Adopt a neutral and non-aligned position both Geopolitical and Commercial perspectives
As WM’s service-provision is to all countries, in all currencies, for all transactions, it has adopted a completely neutral and non-aligned Geopolitical approach regarding all its activities (subject to adherence to all international rules and laws accepted and applied by Guernsey – which includes UK, EU, USA and other guidance and resolutions in respect of sanctions). Similarly, as WM is a System not a product, and the majority of companies worldwide can use its services, it adopts a similarly non-aligned and neutral stance towards all companies – subject again to relevant rules, laws and sanctions lists.
Know and acknowledge your limits, and constantly implement Confidence-Building measures
From Standard Oil Company in the USA to Yukos in the Russian Federation – and for time immemorial – the graveyards of commercial history are littered with the bodies of commercial entities that did not understand or acknowledge the limits of their powers, and tried to take on or defy States. No matter its power or capacity, a company is not a State, and should never overstep its boundaries and try to act like – or defy / take on – a State. Due to the scope and reach of WM’s System – and the transactions volumes it has access to – its requirements and considerations far surpass commercial considerations only, and include the requirements to practice Statecraft. However, at the same time, WM knows and acknowledges its limits, and stays within them. WM also underwent 30+ due diligences in multiple countries internationally, had the Levy Economics Institute thoroughly review the system, and has – through these confidence-building measures – demonstrated its capacities, its regulatory compliance and its restraint worldwide.
Be extremely conservative with pricing and corresponding valuations
It is an unprecedented situation where a company has a System that can provide sector-influencing services globally to, and in, all the world’s largest volume transactions markets – with transaction volumes in excess of USD 10 000+ Trillion per annum – simultaneously and with no immediate competitors. Additionally, due to WM being powered by its Artificial Intelligence Complex Adaptive System, its costs are virtually zero, and its revenue is virtually all net. Therefore, if it applied standard fees in percentage points, its revenues would comprise a significant proportion of global money supply. However, because that situation would be unreasonable – and because WM was built primarily as a reforming structure not a commercial structure – it provides its services at either zero cost or ultra-low cost. Similarly, its previous valuation by a leading global consultancy that valued WM at USD 224 Billion was carried out using extremely conservative workings based on penetrations and earnings on fractions of a percent – in order to overwhelmingly err on the side of caution and conservatism. Even its current revaluation – to include its TUV Global Digital Currency that can be used for all transactions types in digital or cash-replacement format, in all currencies and all countries worldwide – will similarly be carried out with the same extreme and overwhelming conservatism to keep the valuation within acceptable limits.
These represent some of the top-level considerations that were attended to by WM – and which must be attended to by any entity – if providing – or contemplating entry into a situation where one seeks to provide –Services in extremely large-volume and complex markets Global Markets that have the potential to impact on all countries and people.
Resources:
Media Contact:
Nick Lambert: [email protected]
Basel Committee on Banking Supervision:
https://www.bis.org/bcbs/membership.htm
USD 18.7 Trillion per day Gross FX Payment Obligations
https://www.bis.org/publ/qtrpdf/r_qt1912x.htm
Fate of Standard Oil Company:
https://en.wikipedia.org/wiki/Standard_Oil
Fate of Yukos:
https://en.wikipedia.org/wiki/Yukos
Research Reports on the Capacities of the WM System:
https://tinyurl.com/TUVresearch
Video on the Capacities of the WM System:
https://youtu.be/XYBrCikUhn8
WM’s urls:
https://webtel.mobi/pc (Tablets / Laptops / Desktops)
https://webtel.mobi (Smart Phones)
https://webtel.mobi/wap (Pre-Smart Mobile Phones)
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/311d9e72-ef0a-4a90-a6ab-57ad6f59755f
The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.
Leading financial institution in MENA region selects AI-based platform to process and resolve customer screening alerts related to anti-money laundering and sanctions requirements.Silent Eight’s groundbreaking platform allows financial institutions to reduce manual workloads and risk while maintaining sustainable growth plans. DUBAI, UAE and SINGAPORE, May 8, 2024 /PRNewswire/ — Mashreq, a leading financial institution in the MENA region, today announced that it has selected Silent Eight to provide Name Screening and Adverse Media Alert Adjudication automation capabilities related to sanctions and anti-money laundering regulatory requirements.
Silent Eight is a pioneering RegTech company whose artificial intelligence-based platform offers solutions across the compliance workflow. This strategic partnership will allow for Mashreq to maintain its innovative solution offerings, reduce workflow and resolution times for compliance alerts, and identify true risks in a faster and more efficient way.
Under the partnership announced today, Silent Eight will provide Mashreq with a solution for Alert Adjudication, in which alerts related to potentially risky or proscribed customers are evaluated, false positives are quickly investigated and closed, and potential true positive alerts are more quickly escalated to Mashreq analysts. Through the efficiency gains offered by Silent Eight’s platform, Mashreq will easily be able to improve its processing rates and reduce friction at the time of customer onboarding.
The multi-year partnership aligns with Mashreq’s core strategy of leveraging digital tools and other innovations in order to enhance convenience for customers and also significantly reduces the bank’s environmental footprint. Thanks to the power of Silent Eight’s AI platform, Mashreq’s compliance and risk professionals will be able to easily identify and investigate alerts that represent genuine financial crime risk.
“Mashreq has stood out amongst financial institutions in the Middle East and North Africa for its commitment to innovative banking solutions, as well as strengthening the overall safety of the global banking system,” said Ben Rayner, Regional Head of UK & EMEA for Silent Eight. “Our Name and Adverse Media Adjudication Platform is perfectly tailored to the compliance and business needs of fast-growing financial institutions, and we’re excited to help support Mashreq’s current and future ambitions.”
“At Mashreq, we are committed to maintaining the highest standards of compliance and regulatory adherence as well as leveraging cutting-edge solutions, and our partnership with Silent Eight is a testament to this commitment,” said Scott Ramsay, Group Head of Compliance & Bank MLRO, Mashreq. “With increasing regulatory requirements surrounding sanctions and anti-money laundering, it is crucial for us to adopt innovative technologies that can effectively and efficiently identify potential risks. Silent Eight’s automation capabilities and AI-driven approach will enable us to stay ahead of evolving threats, ensuring compliance and safeguarding our customers’ interests.”
About
Silent EightSilent Eight is a RegTech company that partners with financial institutions to create solutions blending the best of humans and the best of technology, leveraging artificial intelligence. SilentEight’s solution, automates the alert screening, investigation and adjudication process byreplicating human reasoning and decision making based on historical case data and continuouslearning. Silent Eight enables financial institutions to reduce false positives, increase accuracy,and enhance auditability of their compliance operations. Silent Eight works with some of thelargest banks and insurance companies in the world, including Standard Chartered, HSBC, FirstAbu Dhabi Bank and Emirates NBD. Silent Eight is headquartered in Singapore and has officesin New York, London, Warsaw, and Bangalore. For more information, visit www.silenteight.com.
About Mashreq
Mashreq is a more than half-century old bank, yet proudly thinks like a challenger, startup, and innovator. Mashreq pioneered key innovations and developments in banking, starting with entry-level digital-first customers, all the way to powering some of the region’s most prominent corporations and wealth accounts.
The bank’s mandate is to help customers find their way to Rise Every Day, partnering through the highs and lows to help them reach fulfillment, achieve financial goals, and unlock their vision of success.
Reassuringly present in major financial centres of the world, Mashreq’s home and global HQ remains in the Middle East, offering services whenever and wherever opportunity takes its customers.
Find your way to Rise Every Day at www.Mashreq.com/RiseEveryDay.
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Artificial Intelligence
INSPIRED BY A FIFTIES AUTOMOTIVE LEGEND: INTRODUCING AUTOMOBILI PININFARINA BATTISTA CINQUANTACINQUE
Battista Cinquantacinque bears the iconic Blu Savoia Gloss bodywork and contrasting Bianco Sestriere Gloss roof which is inspired by the original 1955 Lancia Florida show carCinquantacinque name, derived from the Italian word for 55, pays tribute to the iconic Pininfarina-designed classic carElegant Lancia Florida was a favourite of the man who penned the classic model and who gave his name to the fastest and most powerful Italian road car – Battista ‘Pinin’ FarinaOne-of-a-kind Battista Cinquantacinque pictured alongside one of only three Lancia Florida sedansAutomobili Pininfarina Design Team was inspired by the 1955 Lancia Florida when also creating the PURA Vision design concept, which sets the template for all future Automobili Pininfarina modelsAccompanying assets available to download hereCAMBIANO, Italy, May 8, 2024 /PRNewswire/ — Automobili Pininfarina has curated a unique Battista commission as a fitting tribute to the 1955 Lancia Florida – a vehicle designed and loved by Battista ‘Pinin’ Farina.
The Lancia Florida was penned by Battista ‘Pinin’ Farina in the early fifties. It was renowned as a rolling sculpture which inspired new design perspectives. Pinin’s personal Florida, which can be admired as part of the Pininfarina SpA Collection in Cambiano (Torino), was the daily driver of Carrozzeria Pininfarina’s founder throughout his career. The stunning Battista Cinquantacinque hyper GT pays homage to this unique heritage.
Its exterior is finished in a flawless Blu Savoia Gloss paint, contrasted by the Bianco Sestriere Gloss roof and completed by the elegant Brushed Anodised jewellery pack. Inside, it is upholstered in a bespoke Mahagoni (Poltrona Frau Heritage Leather). The livery and name Cinquantacinque, translating to ’55’ in Italian, elegantly honours the iconic, classic 1955 Lancia Florida, styled by Carrozzeria Pininfarina.
The Cinquantacinque model features a number of unique inscriptions that point to its heritage and provenance. The passenger door plate as well as the underside of the active rear wing both feature the ‘Cinquantacinque 55’ signature.
Each Battista is propelled by four independent electric motors and a powerful 120 kWh lithium-ion battery, delivering 1,900hp and 2,340Nm of torque. This advanced powertrain ensures thrilling performances, such as accelerating 0-100 kph in 1.86 seconds and 0-200 kph in 4.75 seconds, as well as a comfortable driving range of up to 476 km.
The Battista Cinquantacinque will make its public debut in Tokyo, Japan, when it is introduced to clients in the region, alongside retail partner, SKY GROUP, as part of Automobili Pininfarina’s continued global expansion.
Clients in the region will get to see Automobili Pininfarina’s promise of ‘Dream Cars. Made Real.’ first-hand, providing a personalised client experience and ensuring every hand-crafted vehicle to leave the Atelier facility in Cambiano destined for Japan is a unique expression of each client’s personality.
Dave Amantea, Chief Design Officer at Automobili Pininfarina, said: “This was a truly special and unique opportunity to design a car that plays homage to Pininfarina SpA’s heritage. The colour combination of the Battista Cinquantacinque is incredible and shows the vision Battista Farina had when he designed the Lancia Florida back in the early fifties. Not only that, but that very same model helped guide me when creating the PURA Vision design concept, a truly unique vehicle that sets the template for future models from Automobili Pininfarina.”
The Lancia Florida sedan not only inspired the Cinquantacinque Battista, but also some of the key design elements of the PURA Vision design concept, a vehicle which sets the template for all future Automobili Pininfarina models.
The 50s sedan has rear-opening doors and no B pillar, which directly translated to the Lounge Doors on the PURA Vision. They hinge dramatically upwards and, in combination with the pillarless opening and rear-hinged back doors, provide unrestricted access to the design concept’s spacious 2+2 seating.
Automobili Pininfarina stands at the vanguard of pure Italian luxury experience, with its bespoke curated approach allowing for precise tailoring to the specific preferences of individual clients. Each vehicle is a unique, hand-crafted masterpiece and a reflection of the client’s personality with inspiration from Automobili Pininfarina’s artisans.
FOR MORE INFORMATION, VISIT: automobili-pininfarina.com/media-hub
EDITOR’S NOTES
ABOUT AUTOMOBILI PININFARINA
Automobili Pininfarina is based in operational headquarters in Cambiano, Italy, with a commercial office in Munich, Germany, and resourced with a team of experienced automotive executives from luxury and premium car brands. Designed, engineered and produced by hand in Italy, with a focus on designing experiences for the world’s foremost taste makers, all of Automobili Pininfarina’s vehicles embody the PURA design philosophy. This philosophy will also permeate all future production cars, seamlessly blending classic inspiration with cutting-edge technology.
THE AUTOMOBILI PININFARINA BATTISTA (LINK TO PRESS KIT)
The Battista is the most powerful car ever designed and built in Italy and it delivers a level of performance that is unachievable today in any road-legal sports car featuring internal combustion engine technology. Faster than a current Formula 1 race car in its 0-100 km/h sub-two second sprint, and with 1,900 hp and 2,340 Nm torque on tap, the Battista will combine extreme engineering and technology in a zero emissions package. The Battista’s 120 kWh battery provides power to four electric motors – one at each wheel – with a combined WLTP range of up to 476 km (U.S. combined EPA: 300 miles) on a single charge. No more than 150 examples of Battista will be individually hand-crafted at the Pininfarina SpA atelier in Cambiano, Italy.
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Artificial Intelligence
Exploring the Surge in Digital Infrastructure Spending Driven by Generative AI Innovations
USA News Group Commentary Issued on behalf of Avant Technologies Inc.
VANCOUVER, BC, May 7, 2024 /PRNewswire/ — USA News Group – The rise of generative AI is currently adding considerable potential for accelerating economic growth across a wide array of sectors. In order to fully realize this potential, analysts at ING are highlighting how crucial investment in data and digital infrastructure will be moving forward. Citing estimates from Dell’Oro and Bank of America, ING has pointed out that investments from big tech companies in digital infrastructure is expected to grow between 15-22% this year alone. Another report from analysts at SNS Insider are projecting the AI Infrastructure Market to hit US$222.42 billion by 2030, growing at an explosive CAGR of 25.5%. Behind the scenes, developments in AI infrastructure are being made and provided by a variety of tech companies that include Avant Technologies Inc. (OTCQB: AVAI), Vertiv Holdings Co (NYSE: VRT), Equinix, Inc. (NASDAQ: EQIX), Innodata Inc. (NASDAQ: INOD), and Salesforce, Inc. (NYSE: CRM).
Earlier this year, Avant Technologies Inc. (OTCQB: AVAI) took a significant step in expanding the capabilities of its flagship AvantAI platform, reinforcing its position as one of the first companies to market generative AI. So far, this enhancement has focused on advancing its high-performance data center infrastructure to accommodate the latest developments in AI technology, including the launch of its state-of-the-art supercomputing network and comprehensive licensable data set. As per the launch, Avant’s platform works in collaboration with tech partners Wired4Health, which the company would later acquire and name its former CFO William Hisey as its new CEO.
“Avant’s supercomputing network and our expansive licensable dataset will facilitate significant advancements in AIdriven solutions,” said Danny Rittman, Chief Information Officer of Avant of the launch. “By providing robust computational resources and a rich dataset, Avant is set to eliminate many of the technical and financial barriers that have traditionally hampered AI development. This initiative aims to empower developers with the tools necessary to create more sophisticated and efficient AI models, driving progress and innovation in innumerable fields.”
Providing even more security for its prospective clients, Avant Technologies has also announced its plans to implement AI-empowered, Zero Trust Architecture (ZTA) across its data center operations. In AI-empowered data centers, Zero Trust Architecture ensures that all users and devices are continuously authenticated and verified before accessing network resources.
“By integrating AI with Zero Trust Architecture, we are creating a robust and future-proof security framework for our data centers,” said William Hisey, Avant’s newly-appointed CEO. “This combined approach ensures the highest level of security for our customers’ data while optimizing data center operations for efficiency and cost-effectiveness. Avant is committed to providing innovative technology to help businesses optimize data center operations, improve resource utilization, and enhance security.”
Recently, Avant Technologies also expanded its AvantAI™ platform to include smart, proactive monitoring and management for data centers. AvantAI™ boosts data center efficiency through real-time monitoring and proactive management, helping to ensure systems operate continuously and perform optimally. It also uses extensive data analysis to predict and prevent potential issues and dynamically adjusts resources to enhance data traffic efficiency and responsiveness.
Working to further bolster the AI revolution, Vertiv Holdings Co (NYSE: VRT) saw 60% growth in organic orders of its critical digital infrastructure and continuity solutions in Q1 2024 compared to the same time period the year prior, along with 8% higher net sales.
As well, Vertiv saw a 42% increase in its adjusted operating profit to $249 million, compared to Q1 2024, as the company pointed towards continued acceleration in the data center market, including the deployment of high-performance compute, and increased velocity in its opportunity pipeline to orders.
“We are seeing order patterns with longer lead times based on customer build schedules, largely in 2025 and beyond, suggesting AI is starting to scale,” said Giordano Albertazzi, CEO of Vertiv. “We are continuing to advance our portfolio to enable high-density and GPU based deployments. With our global capacity, the most complete portfolio of critical digital infrastructure solutions across the entire thermal and power technology spectrum, vast global service network and alignment with key technology partners, Vertiv is uniquely positioned and ready to bring scale and support development of the entire AI ecosystem.”
Digital infrastructure company Equinix, Inc. (NASDAQ: EQIX) recently announced a joint venture with PGIM Real Estate for a $600 million project to develop and operate the first xScale data center in the US, located in California’s Silicon Valley. Together, Equinix and PGIM had already successfully opened the first xScale data center in Australia in 2022, after a similar US$575 million JV was announced in 2021.
Under the terms of the agreement, PGIM Real Estate will control an 80% equity interest in the JV, while Equinix will own the remaining 20% equity interest. Equinix xScale data centers allow hyperscale companies to expand their core deployments within Equinix IBX data centers. This setup supports growth across more than 70 global metros on a unified platform that facilitates direct interconnections with over 10,000 customers.
The new joint venture, alongside Equinix’s existing hyperscale collaborations in Europe, Asia-Pacific, and the Americas, will enhance the global xScale data center portfolio. Once fully constructed, this expansion will exceed $8 billion across more than 35 facilities, providing over 725 megawatts of power capacity.
Building upon the confidence of one of its existing “Magnificent Seven” Big Tech customers, Innodata Inc. (NASDAQ: INOD) recently announced it has been awarded three new large language model (LLM) development programs, totaling approximately $20 million of additional annualized run rate revenue. Before these new awards, the annualized run rate revenue from the customer was about $23 million. Innodata anticipates signing an amendment to its agreement with this customer that will reflect these awards within the next few weeks. Work on the newly awarded programs has already started by Innodata.
“We are very excited to announce this significant expansion,” saidJack Abuhoff, CEO of Innodata. “Moreover, we anticipate potential opportunities for further expansion in 2024. The customer continues to express how our high-quality, large-scale, custom data results in superior fine-tuning of their LLMs and that their AI engineering teams greatly value the Innodata partnership.”
Innodata provides large technology companies with scaled data services for refining LLMs and offers LLM evaluation services. By the end of 2023, Innodata had secured five of the top seven major tech firms as clients for its LLM services.
With its own array of big tech allies, Salesforce, Inc. (NYSE: CRM) recently unveiled its Zero Copy Partner Network, a global ecosystem of technology and solution providers building secure, bidirectional zero copy integrations with Salesforce Data Cloud which integrates both structured and unstructured customer data into a comprehensive 360-degree view accessible within Salesforce itself. This integration enables teams to make informed decisions directly within their workflow.
“In today’s digital landscape, companies struggle with islands of data spread across various systems,” said Brian Millham, President and Chief Operating Officer at Salesforce. “With this global ecosystem of partners, companies can access all of their data, no matter where it resides, and unlock the power of all of that data within Salesforce — creating more personalized customer interactions and establishing a foundation for trusted AI, in less time and at lower cost.”
The network will feature a list of initial partners that will include such big names as Amazon Web Services (AWS), Databricks, Google Cloud, and Snowflake, while also adding Microsoft. Together, the network partners are all committed to zero copy integrations with Salesforce that give customers a secure and cost-effective way to connect and take action on all of their data.
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
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