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Temenos launches the first Responsible Generative AI solutions for core banking

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Temenos (SIX: TEMN) today launched its groundbreaking Responsible Generative AI solutions as part of its AI infused banking platform. These secure solutions seamlessly integrate with Temenos Core and Financial Crime Mitigation (FCM), revolutionizing the way banks interact with their data, boosting productivity and profitability to realize substantial return on investment.
Temenos has invested extensively in R&D to support its AI initiatives, resulting in patented Explainable AI (XAI) solutions. Temenos is now extending its leadership to Generative AI for banking and with its AI infused platform is enabling banks to deploy AI solutions faster and safer.
With Temenos Generative AI, users can engage in natural language queries to generate unique insights and reports, significantly reducing the time it takes for business stakeholders to access and unlock the power of crucial data. For example, responses and results for the most profitable customers by customer type and demographics become instantaneous and accessible.
Temenos Generative AI is transparent and explainable, allowing users and regulators to verify the results produced. Furthermore, with a robust permissions and access security framework, these solutions can transform efficiency, operations, and product management in banking. Temenos Generative AI both addresses the main challenges banks face in deploying and integrating this type of technology with their existing data infrastructure, while also addressing their data security and privacy concerns.
The new Generative AI solutions can be applied in customer and middle office operations or product development, enabling banks to create products in real-time based on customers’ preferences. The new solutions help banks augment the power of their users and their expertise with the insights drawn from Explainable and Generative AI. They can be deployed as standalone for banks, connecting with their existing core systems with minimal integration. The solutions can be deployed on-premise, on any public or private clouds, or delivered via Temenos SaaS.
Prema Varadhan, President Product and COO, Temenos, commented: “We all use AI in our daily lives and benefit from the personalized services and insight. Temenos Explainable AI offers transparent, auditable insights while our Generative AI infused platform delivers these insights instantly in an intelligent and personalized way. Temenos ensures responsible AI practices by providing explainability, security, safe deployment, and banking-specific capabilities. With our AI platform, banks can rapidly implement real-world use cases that enhance efficiency, boost profitability, and create hyper-personalized customer experiences.”
Bola Rotibi, Chief Analyst, CCS Insight, said: “GenAI heralds a new era of efficiency and competitiveness in banking, with the potential to revolutionize customer experiences, streamline processes, and uncover actionable insights. Banks are naturally cautious in embracing generative AI to the full and want to ensure they do so responsibly. A proven track-record in delivering responsible AI will be vital for financial institutions to confidently experiment and deploy generative AI models for critical business functions across the enterprise. Providers such as Temenos that place responsible AI operations at the heart of their banking solutions, are well-placed to give financial institutions confidence to experiment and deploy GenAI solutions to critical business functions across the enterprise.”
In core banking operations, Temenos Generative AI enhances user workflows, journeys, and day-to-day queries, enabling banks to revolutionize productivity in product creation and account management. By reducing the time and effort required to produce insights, reports, and actions, Temenos Generative AI empowers business users to communicate with data using free text speech, gaining unique insights expressed in a simple manner. This streamlined process promises to substantially cut the time spent on these tasks, allowing banks to focus on optimizing operations and enhancing customer experience.
In Financial Crime Mitigation, Temenos Generative AI is empowering business users to extract intelligence from data using free text. This enables bank staff to quickly catalogue information, such as financial crime alerts, identifying themes or root causes that could otherwise take humans hours or longer to perform manually. Temenos Generative AI can also help managers unlock productivity information, providing pertinent insights tailored to each institution. For example, it can inform where tuning can be applied to improve Straight Through Processing (STP).
In the near term, Temenos will release Generative AI solutions for Temenos Wealth and Temenos Digital. Temenos is already first to market with an industry-first secure solution for banks using Generative AI to automatically classify customers’ banking transactions.
The post Temenos launches the first Responsible Generative AI solutions for core banking appeared first on HIPTHER Alerts.

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Innodisk Expands Edge AI Applications and Intelligent Solution at Computex 2024 with New Brand Strategy

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Innodisk, a leading global AI solution provider, is showcasing its comprehensive new products at Computex 2024 with a focus on edge AI. Key highlights include the industry’s pioneering CXL 2.0 memory expansion, E3.S SSD, and innovative MIPI over Type-C camera technology for machine vision. Live demonstrations of smart manufacturing PPE recognition and intelligent people tracking will emphasize Innodisk’s custom edge AI capabilities. This event also unveils Innodisk’s new brand vision, “Architect Intelligence,” bringing out its commitment to building intelligent solutions with global partners.
Expanding Industrial Product Lines to Meet AI and Edge Serve Standards
Reliable and high-performance memory and storage are essential for AI and edge computing, particularly as edge servers evolve and demand high data throughput and resilience in extreme environments. This year at Computex, Innodisk will unveil the industry’s first industrial-grade CXL 2.0 memory expansion for high scalability. Additionally, Innodisk is staying ahead of the curve by launching DDR5 LPCAMM2 and DDR5-8800 MRDIMM memory, both adhering to JEDEC’s advanced standards.[1] The showcase will further feature the award-winning E1.S Gen4 SSD series alongside wide-temperature SSDs tailored for edge servers, such as the E1.S/E3.S, available in various form factors. The range also includes 16TB high-capacity SSDs designed to meet evolving storage needs.
Further, Innodisk’s recent focus on embedded camera modules for AI machine vision development is also crucial for advancing edge AI applications. Debuting at Computex, the innovative “MIPI over Type-C” camera technology converts signal through exclusive adapter board design and enhances platform compatibility, significantly extending the length of MIPI camera cables. This unlocks applications in areas such as autonomous mobile robots (AMR) and shared mobility. Innodisk will also display a full range of camera module products for USB and MIPI interfaces.
AI in Action: Smart Cities and Industrial Applications
Beyond industrial modules, Innodisk integrates AI computing technologies with software, hardware, and third-party technologies to create various edge AI solutions. At Computex, Innodisk will introduce “InnoTracking,” a smart people-tracking solution capable of accurately identifying and tracking specific individuals across multiple cameras and timeframes, enhancing public safety in cities, financial institutions, entertainment venues, and retail spaces.
Under the simultaneous trends of ESG and industrial automation, worker safety in hazardous environments becomes a crucial focus for enterprises. Innodisk’s PPE recognition solution uses an FPGA platform to process real-time images from four cameras simultaneously, ensuring workers maintain adherence to safety protocols. In case of violations, the system promptly notifies supervisors with detailed information to initiate appropriate responses. Moreover, Innodisk also collaborates with Network Optix, a premier enterprise video platform provider for security, transportation, and wide varieties of smart spaces solutions, to enrich user experiences of this solution.
The “iCAP Air” air quality management solution addresses ESG requirements by combining patented air quality detection technology with sensors, edge servers, cloud management interfaces, and IoT ventilation controllers. This solution is suitable for smart factories and healthcare facilities, enabling real-time intelligent decision-making.
“Architect Intelligence” – Innodisk’s Brand Strategy for the AI Era
With nearly two decades in the industry, Innodisk has elevated its brand and become a global leader in product technology. The new “Architect Intelligence” concept aligns with Innodisk’s edge AI strategy, emphasizing the practical implementation of AI at the industrial edge. Under this concept, Innodisk integrates various product lines into nine intelligent series, each represented by diverse colors, symbolizing the limitless potential of AI applications and Innodisk’s innovative spirit. Furthermore, these colored blocks represent the flexibility of solutions and collaborative effort to architect AI solutions with customers. See the future of edge AI in actions! Visit Innodisk at Booth J0110, Hall 1, 1F, Nangang Exhibition Center from June 4th to 7th to explore more.
[1] JEDEC standards are subject to change during and after the development process, including disapproval by the JEDEC Board of Directors.
The post Innodisk Expands Edge AI Applications and Intelligent Solution at Computex 2024 with New Brand Strategy appeared first on HIPTHER Alerts.

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Liquid Diamonds Poised for Major Growth After Raising Rs. 9 Crores in Funding

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Liquid Diamonds, a B2B diamond sourcing platform with offices in New York and Mumbai, is excited to introduce a revolutionary new technology that ensures price transparency, cost savings, and real-time access for jewelry retailers across the globe through a patented reverse auction system. Previously only available to diamond wholesalers, this expansion was made possible by an outpouring of support from diamond industry veterans as well as certain members of the New York Angels, raising over Rs. 9 crores ($1.1M). Varun Alagh of Mamaearth, Aakrit Vaish of Haptik and Miten Sampat of CRED also participated in this round.
The investors believe the jewelry industry has been left behind compared to other sectors such as auto, finance, and pharmaceuticals. Their goal is to propel it into the modern age, attracting substantial financial capital into the trade.
Donna Redel, a member of New York Angels, as well as an early investor and mentor to Liquid Diamonds, now serves as a member of the company’s board of directors. She shared that she “is optimistic about the future of the diamond industry, as modern technology is slowly being accepted by a dated industry that is not currently data rich.” She continued that the “application of technology and access to data can benefit every part of the value chain. Liquid Diamonds is at the forefront of this revolution and will continue to establish itself as a great asset to the jewelry industry at large.”
Liquid Diamonds is helping diamond cutting and polishing companies, based in Surat and Mumbai access global wholesale markets of diamonds and jewelry. Liquid Diamonds has already facilitated the export of over Rs. 400 crores ($50M) in diamonds from India to the United States, showcasing the power of the platform.
Powered by a patented universal continuous double auction technology, the platform ensures diamond buyers get the best price by putting suppliers into open competition with each other. On the supply side, they offer a SaaS-based Pricing Co-Pilot that helps diamond suppliers price their diamonds competitively using artificial intelligence (AI) and machine learning.
Founders of Liquid Diamonds, Kashyap Mehta, Mark Molloy and Chetan Gupta, combine their deep family connections in the diamond industry with their technology backgrounds to revolutionize the industry. With the cross-border nature of the business, they have product development and ops teams based in the Bharat Diamond Bourse in Mumbai while sales, delivery and customer service functions are based in the Diamond District in New York.
“Our vision is to democratize the diamond market, allowing buyers to receive fair market value regardless of whether they are buying 5 or 500 diamonds,” said Kashyap Mehta, CEO of Liquid Diamonds. “This enhanced focus on retailers is an exciting advancement for the whole industry, and we are happy to report an increase in both time spent on the platform and a strong buyer ROI. By opening new opportunities and providing price transparency, we believe this will revolutionize the way the jewelry market conducts business.”
Those interested in utilizing this new service can do so by registering on www.liquid.diamonds and completing the KYC process to access the platform.
The post Liquid Diamonds Poised for Major Growth After Raising Rs. 9 Crores in Funding appeared first on HIPTHER Alerts.

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Valmet enters joint venture with Körber to advance the digital offering to the tissue industry

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Valmet and Körber have on May 29, 2024, reached a joint venture agreement to further strengthen FactoryPal, a venture of Körber. FactoryPal is a software developed for tissue converting operations that improves shopfloor manufacturing performance and productivity.
According to the joint venture agreement, Valmet will become the majority shareholder of FactoryPal, and FactoryPal will continue operating as an own legal entity under the existing FactoryPal brand. The addition of FactoryPal will further strengthen Valmet’s offering of advanced Industrial Internet solutions and digital services to support customers in the tissue industry. The joint venture follows Valmet’s acquisition of Körber’s Business Area Tissue that was completed in November 2023.
FactoryPal software empowers tissue mill teams to achieve seamless operations by generating and utilizing high quality data combined with state-of-the-art user experience and advanced artificial intelligence (AI). FactoryPal acts as a trusted co-pilot on the shop floor.
“Valmet has a unique end to end offering for tissue producers, from stock-preparation and tissue machines to rewinders, converting and packaging lines, as well as services and automation systems. We see FactoryPal as an excellent addition that will provide performance optimization, not only for converting operations, but eventually also for the entire tissue making process,” says Petri Rasinmäki, Business Line President, Paper, Valmet.
“By setting up this powerful partnership, FactoryPal will be able to advance its product development with extensive machinery and paper making knowledge. This will empower us to deliver further innovative digital solutions across the entire tissue value chain, evolving the product to one of the leading AI-copilot solutions in the industry,” states Dr. Nadja Hatzijordanou, CEO of FactoryPal.
Currently, there are 55 employees working for FactoryPal in Germany, Portugal, Italy, the USA and Brazil. The set up of the joint venture is subject to customary closing conditions. The closing of the agreement is estimated to occur at earliest on August 1st, 2024.
The post Valmet enters joint venture with Körber to advance the digital offering to the tissue industry appeared first on HIPTHER Alerts.

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