Apple now experimenting with language-generating AI in ChatGPT era

As AI chatbots rise, Apple is now reportedly experimenting with language-generating artificial intelligence (AI). The Cupertino-based tech giant recently held an internal event that focused on AI and large language models, reports The New York Times. Several teams including people working on Siri voice assistant are testing “language-generating concepts” regularly.   Siri, along with Alexa … Read more

KPMG stands by audits of Silicon Valley Bank and Signature Bank

KPMG’s U.S. boss, Paul Knopp, said the accounting firm stood behind its audits of Silicon Valley Bank (SIVB.O) and Signature Bank (SBNY.O), the Financial Times reported on Tuesday. Knopp said KPMG’s audit work considered all the facts available at the time and that “market-driven events” in the intervening days led to the banks’ failures, the … Read more

Regret and blame in Silicon Valley after bank run

The nearly overnight collapse of Silicon Valley Bank has left the US tech scene in shock, wondering how one of its most valued institutions could vanish so suddenly, shunned by the companies that used it most. SVB, like many other niche banks around the world, was a highly specialized lender with specific idiosyncrasies — and … Read more

Goldman analysts revoke Fed rate hike expectation in March after SVB failure

Goldman Sachs analysts have revised their prediction for the upcoming U.S. Federal Reserve meeting, stating that they no longer anticipate a rate hike on March 22. This shift in prediction is due to the recent stress experienced in the banking sector, which has led to considerable uncertainty about the future rate hike path beyond March. … Read more

SVB in talks to sell itself, as crisis triggers global banking rout

SVB Financial Group’s efforts to raise money have failed and the troubled bank was in talks to sell itself, CNBC reported on Friday, as a crisis at the tech-heavy lender rippled through global markets and hit banking stocks. Shares of SVB Financial Group were halted on Friday after tumbling 66% in premarket trading. SVB, which … Read more

Fintech companies need a self-regulatory body: RBI deputy governor MK Jain

Reserve Bank of India (RBI) has said that the financial technology, or fintech, sector should organise itself under a self-regulatory organisation that can monitor the conduct of member fintech entities. Addressing an international research conference on fintechs on Friday, co-organised by IIM-Ahmedabad, RBI deputy governor MK Jain said that a self-regulatory approach could also help … Read more