5 things about AI you may have missed today: AI to dominate fintech, AI startup ElevenLabs turns unicorn, more | Tech News

5 things about AI you may have missed today: AI to dominate fintech, AI startup ElevenLabs turns unicorn, more

AI to dominate fintech for next five years, WEF study reveals, Blockchain emerges as key tool to tackle bias in AI training, and much more today.

| Updated on: Jan 22 2024, 20:16 IST
Promate XWatch-R19 unveiled - rugged smartwatch for adventure and fitness enthusiasts
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1/6 1. Rugged Design and Durability: Promate's latest smartwatch, the XWatch-R19, is designed for adventurers and fitness enthusiasts. Boasting a robust, shockproof design and an IP67 rating for water and dust resistance, it can withstand most challenging environments. 
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2/6 2. Advanced Health Monitoring: Promate XWatch-R19 is priced at Rs. 5999 and is available exclusively on Amazon India. The XWatch-R19 features Oxygen Saturation and blood pressure detection, complementing its sleep tracker. It utilizes VC30F heart rate and SC7A2O pedometer sensors for comprehensive health tracking.  
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3/6 3. Sporty Aesthetics and Display: The smartwatch sports a sporty yet robust design, with a 1.53-inch Ultra Large display offering crystal-clear visuals. The metallic chassis and two functional crown buttons enhance accessibility and control, providing a seamless user experience. 
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4/6 4. Extensive Fitness Tracking: With support for over 100+ sports modes, the Promate XWatch-R19 offers precise metrics for daily fitness routines. Integrated into the XWatchApp, it includes features like Bluetooth 5.1 connectivity for hands-free functionality, remote music control, and real-time notifications. 
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5/6 5. Premium Calling Experience: Equipped with a Pentamagnetic speaker featuring five magnets, the smartwatch guarantees a premium Bluetooth calling experience and access to call logs. Its mammoth 800mAh battery ensures up to 15 days of usage and an impressive 80 days of standby time. 
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6/6 6. Convenient and Secure Features: In addition to health and fitness functions, the XWatch-R19 securely stores electronic cards and QR codes, allowing users to access essential cards conveniently on the go. The comprehensive solution is tailored for active individuals, according to Gopal Jeyaraj, Head – India & SAARC. 
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Know what’s happening in the AI universe today, January 22. (Unsplash)

AI to dominate fintech for next five years, WEF study reveals; Blockchain emerges as key tool to tackle bias in AI training; Voice AI startup ElevenLabs attains unicorn status with $1.1 billion valuation in latest funding round; EY survey unveils Gen AI's impact on Indian retail transformation- this and more in our daily roundup. Let us take a look.

1. AI to dominate fintech for next five years, WEF study reveals

AI is poised to lead fintech development over the next five years, with 70% of respondents in a World Economic Forum study highlighting its relevance. The research, conducted by Bryan Zhang of the Cambridge Centre for Alternative Finance, gathered insights from 227 fintech firms across various verticals and regions. Societal and economic impact emerged as a concern, with 41 percent emphasising the necessity for sustainable finance schemes, Economic Times reported

2. Blockchain emerges as key tool to tackle bias in AI training

Blockchain, the technology powering Bitcoin, may revolutionise AI by addressing data bias. Executives believe using blockchain to store AI training data can prevent biases and misinformation, enhancing the technology's reliability. Casper Labs, in collaboration with IBM, is developing a system where datasets are stored on the blockchain, providing a tamper-proof record of AI training. This approach allows for monitoring and rollback if the AI exhibits undesired behaviours or hallucinations, according to a CNBC report

3. Voice AI startup ElevenLabs attains unicorn status

Voice AI startup ElevenLabs has achieved unicorn status, and is now valued at $1.1 billion after raising $80 million in a Series B funding round led by Andreessen Horowitz. The London-based company specialises in AI-generated voices with diverse languages, accents, and emotions. With a customer base including Storytel and The Washington Post, ElevenLabs aims to expand its remote workforce from 40 to 100 by year-end. The surge in investor interest reflects the growing adoption of AI voice generation in various industries, according to a Reuters report

4. EY survey unveils Gen AI's impact on Indian retail transformation

Gen AI is driving a transformative shift in Indian retail, as revealed by a recent EY survey. With 54 percent anticipating cost reduction and 50 percent expecting a value chain overhaul, Gen AI is poised to revolutionise inventory management, predictive maintenance, and dynamic pricing. AI expert Jaspreet Bindra envisions Gen AI bots enhancing search and buying experiences, potentially boosting retail value by $20 billion. Hyper-personalization, impacting customer experience according to 76 percent of respondents, heralds AI-powered innovations like virtual assistants and dynamic loyalty programs, WION reported

5. Domino data lab partners with Atlantic council to boost defence capabilities through AI

Domino Data Lab has joined the Atlantic Council's Commission on Software-Defined Warfare to enhance U.S. and allied defence capabilities through software, especially AI platforms. Domino President Joel Meyer will represent the company, collaborating with leaders like former U.S. Secretary of Defense Mark T. Esper to develop a framework for leveraging digital capabilities. They aim to recommend scalable, governable, and cost-effective AI approaches, addressing the transformative impact of advanced commercial technology on battlefield dynamics, via PR Newswire. 

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First Published Date: 22 Jan, 19:56 IST