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Techno and IBM Watsonx is a New Era of Reliable AI Announced by Mahindra



Together with IBM, Tech Mahindra, a global leader in digital solutions and technology consulting, is assisting organizations in accelerating the adoption of generative AI in a sustainable manner around the globe.

This partnership combines IBM’s Watsonx AI and data platform with AI Assistants with Tech Mahindra’s array of AI products, TechM amplifAI0->∞.

Customers may now access a range of new generative AI services, frameworks, and solution architectures by combining Tech Mahindra’s AI engineering and consulting talents with IBM Watsonx’s capabilities. This makes it possible to create AI programs that let businesses automate operations using their reliable data. Additionally, it gives companies a foundation on which to build reliable AI models, encourages explainability to help control bias and risk, and permits scalable AI deployment in on-premises and hybrid cloud settings.

Chief digital services officer of Tech Mahindra Kunal Purohit says that in order to revitalize businesses, organizations should prioritize responsible AI practices and the integration of generative AI technology.

“Our partnership with IBM can facilitate digital transformation for businesses, the uptake of GenAI, modernization, and ultimately business expansion for our international clientele,” Purohit continued.

Tech Mahindra has created an operational virtual Watsonx Center of Excellence (CoE) to better improve business skills in AI. Using their combined competencies to produce unique offers and solutions, this CoE serves as a co-innovation center, with a dedicated team tasked with optimizing synergies between the two organizations.

The collaborative offerings and solutions developed through this partnership could help enterprises achieve their goals of constructing machine learning models using open-source frameworks while also enabling them to scale and accelerate the impact of generative AI. These AI-driven solutions have the potential to aid organisations enhance efficiency and productivity responsibly.

IBM Ecosystem General Manager Kate Woolley emphasized the potential of the partnership and added that, when generative AI is developed on a basis of explainability, openness, and trust, it may act as a catalyst for innovation and open up new market opportunities.

“Our partnership with Tech Mahindra is anticipated to broaden Watsonx’s user base and enable even more clients to develop reliable AI as we strive to integrate our know-how and technology to support enterprise use cases like digital labor, code modernization, and customer support,” stated Woolley.

This partnership is in line with Tech Mahindra’s ongoing efforts to revolutionize businesses through cutting-edge AI-led products and services. Some of their most recent offerings include Evangelize Pair Programming, Imaging amplifAIer, Operations amplifAIer, Email amplifAIer, Enterprise Knowledge Search, and Generative AI Studio.

The two businesses had previously worked together, which is noteworthy. On the company’s Singapore site, Tech Mahindra had announced earlier this year that it would be opening a Synergy Lounge in partnership with IBM. For APAC organizations, this lounge aims to expedite the adoption of digital. Technology like as artificial intelligence (AI), intelligent automation, edge computing, 5G, hybrid cloud, and cybersecurity can all be effectively implemented and utilized with its assistance.

In addition to Tech Mahindra, IBM Watsonx has been applied in other partnerships to expedite the application of generative artificial intelligence. Early in the year, the GSMA and IBM also announced a new cooperation to develop the GSMA Foundry Generative AI program and GSMA Advance’s AI Training program, respectively, to boost the use and capabilities of generative AI in the telecom industry.

The program is also available digitally, and it covers the technical underpinnings of generative AI in addition to its business strategy. For architects and developers looking for in-depth, useful expertise on generative AI, this program employs IBM Watsonx to deliver hands-on training.


Verituity Secures $18.8 Million for Expansion of AI-Driven Verified Payout Platform



In order to finance the expansion of its verified payout platform for businesses and consumers, Verituity has raised $18.8 million.

According to a press release from Verituity on Friday, June 21, the company plans to use the additional funds to expand into new markets like mortgage servicing and energy, enhance its growth in the banking and insurance sectors, and continue developing the machine learning (ML) and artificial intelligence (AI) models that underpin the platform.

According to the press release, Ben Turner, CEO of Verituity, “orchestrates billions of dollars in verified B2B and B2C payouts by empowering businesses and banks to deliver trusted and intelligent payments on-time to known individuals and businesses.” “As we continue on our journey to ultimately do away with checks and integrate intelligent, verified payouts into the very fabric of business disbursements, I look forward to working with our investors.”

According to the statement, the company’s technology adds intelligence to each disbursement and knows and validates every payer, payee, account, and transaction.

According to the release, doing so reduces risks, maximizes payout economics, and guarantees that digital payments are made on schedule, to the correct payee and payment account, and from the correct funding account.

Sandbox Industries and Forgepoint Capital spearheaded the company’s most recent round of funding.

According to a press statement from Sandbox Industries, Chris Zock, managing partner and co-CEO, Verituity’s “unique approach to embedding verification into payouts and handling the complexity of connecting legacy treasury systems to digital payments is transformative for the industry—“

Verituity, according to Don Dixon, co-founder and managing director of Forgepoint Capital, is “well positioned to take full advantage of the rapid transformation underway in disbursements” because it combines intelligent payments, trust, and verification.

Verituity and Mastercard partnered in April to allow commercial banks and payers to make payments almost instantly.

Mastercard’s suite of local and international money transfer options, Mastercard Move, is integrated into Verituity’s white-labeled payments platform as part of that partnership. The Verituity platform will be able to provide consumers with fast payee and transaction verification as well as a shorter time to market thanks to this connection.

In a press statement announcing the collaboration, Turner stated, “We’re excited to work with Mastercard to include more banks in the safe disbursement and remittance ecosystem.”

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Anthropic, an OpenAI Rival, Revealed its Most Potent AI to Date



Anthropic, an OpenAI rival, unveiled Claude 3.5 Sonnet, their most potent AI model to date, on Thursday.

Claude is one of the chatbots that has become quite popular in the last year, along with Google’s Gemini and OpenAI’s ChatGPT. Google, Salesforce, and Amazon are among the supporters of Anthropic, which was created by former OpenAI research executives. It has closed five financing arrangements worth a combined $7.3 billion in the last year.

The announcement comes after OpenAI’s GPT-4o in May and Anthropic’s Claude 3 family of models, which debuted in March. Claude 3.5 Sonnet, the first model in Anthropic’s new Claude 3.5 family, is faster than the business’s previous top model, Claude 3 Opus, according to the company.

The company’s website and the Claude iPhone app offer Claude 3.5 Sonnet for free. Higher rate limit models are available to subscribers of Claude Pro and Team.

In addition to creating excellent content in a conversational, natural tone, the system “shows marked improvement in grasping nuance, humor, and complex instructions,” according to a blog post from the business. Code can be written, edited, and run by it as well.

Anthropic also unveiled “Artifacts,” a feature that enables users to instruct its chatbot, Claude, to execute tasks like creating code or text documents, and then view the outcome in a separate window. Code development, business report authoring, and other tasks are anticipated to benefit from Artifacts, according to the company. “This creates a dynamic workspace where they can see, edit, and build upon Claude’s creations in real-time,” the statement continued.

As generative AI startups like Anthropic and OpenAI gain traction, they are competing with tech behemoths like Google, Amazon, Microsoft, and Meta in an arms race to incorporate AI technology and stay ahead of a market that is expected to generate $1 trillion in revenue over the course of the next ten years.

Anthropic debuted its first-ever enterprise product in May, and news of its new model followed.

Anthropic co-founder Daniela Amodei told CNBC last month that the plan for businesses, called Team, had been in development for the past few quarters and involved beta-testing with between 30 and 50 customers in industries like technology, financial services, legal services, and health care. According to Amodei, many of those same customers requested a specific corporate solution, which served as inspiration for the service’s concept.

At the time, Amodei remarked, “So much of what we were hearing from enterprise businesses was that people are kind of using Claude at the office already.”

Mike Krieger, co-founder of Instagram, joined Anthropic as chief product officer last month, not long after the business unveiled its new product. According to a release, Krieger, the former chief technological officer of Meta-owned Instagram, expanded the platform’s user base to 1 billion and boosted the number of engineers on staff to over 450. Jan Leike, a previous leader in safety at OpenAI, also joined the business in May.

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Materia Unveils GenAI Platform for Public Accounting Firms After Exiting Stealth



With more than $6.3 million in funding, Materia has emerged from stealth to introduce a generative artificial intelligence (AI) platform designed especially for public accounting companies.

According to a press release released by the company on Thursday, June 20, the platform’s goal is to give these businesses intelligent technology that will free up time they now spend on numerous low-value, tiresome, daily tasks.

The CEO and co-founder of Materia, Kevin Merlini, stated in the press release that the company was formed to meet this pressing demand for time-saving solutions that would also assist in handling the laborious and heavy lifting associated with daily workflows while maintaining a high standard of accuracy and security.

The press announcement states that the company’s technology compiles internal knowledge from businesses into a safe Knowledge Hub. Thus, it establishes a silo-bridging, structured corporate search layer.

According to the announcement, this hub is then used by the Materia AI Assistant and Document Analysis Workspace, which use the data to give trustworthy data based on proprietary knowledge and recognized accounting standards.

According to the announcement, the platform is made to be adopted in a matter of days, provides responsible AI that is supported by meticulous accuracy testing conducted by CPA subject matter experts, and provides a approach for organizations that require specific customisation or interfaces.

Natalie Sandman, a general partner at Spark Capital, which led the funding, stated in the statement that the company already works with prestigious national firms and that the feedback from these clients has been “overwhelmingly positive.”

According to Sandman, “We think Materia’s AI solution will revolutionize the accounting industry by expediting routine tasks for accounting professionals and enabling them to deliver higher-quality services to their clients more effectively.”

According to PYMNTS Intelligence, chief financial officers (CFOs) are using AI to increase a variety of organizational efficiencies. The requirement for lower-skill personnel has decreased, according to 63% of CFOs, and they now require more individuals with analytical skills, according to 58% of them.

This past March, AI company Fieldguide reported raising $30 million for their accounting sector product, marking another recent fundraising event in this space. CPAs can have more time to work on high-value tasks by using Fieldguide’s AI solution, which can automate workflows and streamline operations.

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