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GienTech Hosted the “2024 GienTech Digital Transformation Conference” to Promote Overseas Collaborative Ecosystem Development

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Digital transformation specialist GienTech and China Computer Federation (CCF) Digital Finance successfully co-hosted the “2024 GienTech Digital Transformation Conference” with the theme “Envisioning a Future of Digital Intelligence” on May 22 in Hong Kong. The conference focused on the transformation and new opportunities in the digital economy era, showcasing innovative breakthroughs and practical applications in industry digitalization, with the aim of strengthening ecosystem development and promoting opportunities for overseas collaboration. Nearly 130 guests from government, business, and industry associations attended the conference. Many long-term partners of GienTech, including Huawei and Deloitte, also attended the event, jointly building a collaborative ecosystem.
On the first anniversary of GienTech’s brand launch in Hong Kong, the company organized the “2024 GienTech Digital Transformation Conference” to showcase the industry applications and overseas solutions of its Financial-Grade Digital Infrastructure to key industry customers and partners in Hong Kong and Singapore, as well as to share successful stories from the Greater Bay Area.
“Amidst the rapid development of financial technology, financial institutions require increasingly flexible, efficient, and secure IT infrastructure to support their continued business innovation and growth. GienTech’s Financial-Grade Digital Infrastructure is well-equipped to address these needs. It provides comprehensive solutions spanning from underlying infrastructure to upper-layer applications, enabling financial institutions to achieve rapid deployment and operate efficiently. Over the past year, GienTech participated in mainframe migration and data warehouse migration projects for several leading financial institutions, playing a pivotal role in these projects,” said Feng Ming Gang, Executive Deputy General Manager of GienTech.
“In the next wave of technological revolution and industrial transformation, digital technology and digital economy have emerged as key forces in reorganizing global resources, reshaping the global economic structure, and changing the competitive landscape worldwide. As a pioneer in the field of computing, CCF aspires to harness collective intelligence from different sectors to jointly address the opportunities and challenges of this historic period. CCF is committed to integrating the resources and capabilities of the financial industry, fostering innovation and development in the digital finance field through the mutual empowering of ‘finance’ and ”technology’,” said Zhang Dong Wei, Senior Vice President of GienTech and Vice Director of CCF Digital Finance.
GienTech unveiled its next-generation Customer Relationship Management (CRM) solution to the overseas market for the first time during the conference. The solution underwent innovative upgrades in four key areas, including customer, channel, collaboration, and technology. This comprehensive solution deepens customer journey management by shifting the focus from “product sales”-oriented to customer demand-oriented approach. It strengthens omni-channel construction and deepens inter-channel synergies to enhance customer experience. Additionally, it strengthens retail-wholesale linkage and provides comprehensive financial services, embracing big data and artificial intelligence to improve customer management automation, accuracy, and customer satisfaction.
The next-generation CRM solution is currently being adopted by The Bank of East Asia, Limited (“BEA”) to provide an enhanced experience for its customers. Seaman Zhong, Head of Information Technology Department at BEA, was a guest speaker at the conference and showcased on the Bank’s latest fintech development.
To further accelerate the digital transformation of global customers, several GienTech business experts introduced key product solutions, including platform engineering, data governance, and transaction banking, at the event. Data has emerged as the critical driver of enterprise digital transformation, with data assetization currently accelerating across global enterprises. “With our long-term accumulation and in-depth insights into thousands of mainland customer cases, GienTech already possesses a complete and mature enterprise data solution. The data asset management platform of GienTech’s Financial-Grade Digital Infrastructure has been validated by many large mainland financial institutions. We look forward to providing more overseas customers with accurate and efficient data asset management as well as digital transformation support in the future.” stated Du Xiao Zheng, Standing Committee Member of the CCF Data Governance Development Committee, Executive Member of the CCF Expert Committee on Big Data, Deputy President of GienTech Research Institute, and General Manager of the Business Analysis BU.
A roundtable themed “Prospects for Digital Intelligence Application in Banking and Finance ” was also held during the conference. Representatives from The Bank of East Asia, Limited, Livi Bank, and Hong Kong Applied Science and Technology Research Institute (ASTRI), as well as experts of GienTech shared their insights on the prospects of digital intelligence in the financial field and discussed the application and development of generative artificial intelligence in the banking sector.
William Wong, Senior Vice President of GienTech, said, “Leveraging nearly three decades of global presence and industry expertise, GienTech has been actively promoting digital transformation in Hong Kong and supporting financial and other critical industries to embrace new digital opportunities. This year, we established the Overseas Solution Center, which focuses on solution development and globalization. On April 27, GienTech signed a strategic cooperation agreement with Hong Kong Applied Science and Technology Research Institute (ASTRI) on generative artificial intelligence-driven research. We also signed a strategic cooperation agreement with The University of Hong Kong – Standard Chartered Hong Kong 150th Anniversary Community Foundation FinTech Academy (HKU-SCF FinTech Academy) for research on critical artificial intelligence technologies in the financial field. In the future, GienTech will continue to foster the development of overseas ecosystems, further empowering the digital transformation of finance and other critical industries in overseas markets.”
The post GienTech Hosted the “2024 GienTech Digital Transformation Conference” to Promote Overseas Collaborative Ecosystem Development appeared first on HIPTHER Alerts.

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EU’s new AI rules: Industry opposed to revealing guarded trade secrets

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New regulations in the European Union (EU) are set to compel companies to increase transparency regarding the data they use to train artificial intelligence (AI) systems, potentially unveiling closely guarded industry practices, reports the Times of India.
Since OpenAI, supported by Microsoft, introduced ChatGPT to the public 18 months ago, there has been a surge in public interest and investment in generative AI. This technology enables rapid generation of text, images, and audio content.
As the AI industry expands, concerns have emerged regarding how companies source data for training their models, particularly whether using content from popular books and movies without creators’ consent constitutes a breach of copyright.
The EU’s new AI Act, phased in over the next two years, mandates stricter regulations while allowing time for businesses to adjust to new requirements. Nevertheless, the practical implementation of these rules remains uncertain, notes the report.
Mandating “detailed summaries”
A contentious provision of the AI Act requires organizations deploying general-purpose AI models like ChatGPT to provide “detailed summaries” of the training data. The newly established AI Office plans to release a template for these summaries by early 2025 after consulting stakeholders. However, AI companies oppose disclosing their training data, arguing it as a trade secret that could unfairly benefit competitors if made public, the report reveals.
In the past year, major tech firms including Google, OpenAI, and Stability AI have faced lawsuits alleging unauthorized use of content for AI training. Despite US President Joe Biden’s executive orders addressing AI security risks, legal challenges regarding copyright remain largely untested, the report adds.
Backlash against OpenAI
Amid heightened scrutiny, tech companies have struck content-licensing deals with media outlets and websites. OpenAI, for instance, has partnered with the Financial Times and The Atlantic, while Google has collaborated with NewsCorp and Reddit.
Despite these efforts, OpenAI drew criticism in March when Chief Technology Officer Mira Murati declined to confirm whether YouTube videos were used to train its video-generating tool, Sora, citing potential violations of company terms and conditions.
Source: business-standard.com
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Picsart teams up with Getty to take on Adobe’s ‘commercially-safe’ AI

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Picsart and Getty Images are joining forces to develop an AI image generator exclusively trained on Getty’s licensed stock content.
According to Picsart, their AI lab is constructing a bespoke model from the ground up to power this tool. It aims to provide the platform’s paying subscribers with the ability to generate images that come with full commercial rights. This initiative seeks to address persistent concerns about potential copyright violations associated with AI-generated content. The Picsart / Getty Images generator is slated for launch later this year and will be accessible through Picsart’s API services.
This collaboration bears similarities to Adobe’s Firefly AI model, initially introduced as a prompt-based image generation tool within Photoshop last year. Adobe has since expanded its integration across various Creative Cloud applications. Adobe’s model also emphasizes commercial safety by training on stock images from Adobe’s own library, along with openly licensed or out-of-copyright content. However, questions remain about the integrity of the training data and user trust in Adobe’s approach.
Getty Images has previously ventured into commercially-focused AI products through partnerships with Bria AI and Runway, and by teaming up with Nvidia to introduce “Generative AI by Getty Images,” leveraging its extensive catalog of licensed images. Adobe’s widespread integration of the Firefly model into popular applications like Photoshop, Illustrator, Lightroom, and Express may pose a challenge for Picsart’s new offering in terms of attracting creatives away from Adobe’s established ecosystem.
Source: theverge.com
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Microsoft to delay release of Recall AI feature on security concerns

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On June 13, Microsoft announced that it will postpone the rollout of its AI-powered feature “Recall” with new computers next week due to privacy concerns. Instead, the tech giant plans to offer Recall for preview to a smaller group later, following feedback and additional testing.
Recall is designed to track various activities from web browsing to voice chats, compiling a searchable history stored on the user’s computer. This allows users to easily retrieve past actions, even months later.
Originally slated for broad availability on June 18 for Copilot+ PC users, Recall will now undergo a preview phase exclusively within Microsoft’s Windows Insider Program (WIP) in the coming weeks. This decision, as stated in a blog post by the Redmond, Washington-based company, underscores their commitment to ensuring a trusted, secure, and reliable experience for all customers.
Copilot+ PCs, introduced in May, feature advanced AI capabilities aimed at enhancing user interactions and productivity. The WIP, a platform for software testing, enables enthusiasts to preview upcoming Windows operating system features.
Microsoft intends to incorporate feedback from the WIP community before extending the Recall preview to all Copilot+ PC users in the near future.
Following the feature’s announcement, concerns over privacy were swiftly voiced on social media, with some users fearing potential surveillance implications. Elon Musk, prominent technologist and billionaire, likened Recall to a scenario from the dystopian series “Black Mirror,” highlighting societal apprehensions about the impact of advanced technologies.
Source: reuters.com

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