AI Business Battleground - Issue #495 November 21st, 2024

The fight for AI’s future takes center stage as leaked emails reveal a power struggle between Elon Musk and OpenAI CEO Sam Altman. From disputes over Microsoft partnerships to concerns about leadership motives, the revelations highlight tensions between ethical AI ideals and the push for dominance. As Musk’s xAI enters the fray, the lines between collaboration and competition blur, reshaping the narrative of AI control.

From fraud detection and prevention initiatives to compliance assurance, synthetic data provides financial institutions access to private, compliant data on demand. Download to learn more. Get the Brief

Amid the race for innovation, fintechs are carving their paths globally. LATAM’s Nubank and Ualá showcase regional growth, while Klarna eyes a U.S. IPO. Meanwhile, iwoca’s £200M funding underscores SME lending potential, Metro Bank faces challenges with heavy fines, and GoHenry champions financial education. These stories remind us that while giants fight for AI dominance, fintech’s diversity thrives.

As a Partner Manager on the Product Partnerships team, you will represent Square’s brand and lead relationships with key strategic partners.

This role will be responsible for the daily oversight and management of the Platform Accounting Team, including financial reporting and analysis.

You will lead the Fiserv overall business relationship with a portfolio of Premier core processing clients from a strategic and consultative perspective.

As tech titans battle for AI supremacy, blockchain offers a decentralized counterpoint, breaking down barriers for developers and small businesses. By enabling open networks for AI creation and monetization, blockchain technology is reshaping how AI evolves. With the global AI market projected to surpass $1.3 trillion by 2030, this democratized approach ensures innovation isn’t confined to boardrooms.

In the pursuit of smarter banking, Temenos brings NVIDIA-powered generative AI to financial institutions, enabling secure, on-premises data processing. Banks gain real-time insights and personalization capabilities, staying competitive without sacrificing control. This evolution shows how AI is not just a battleground for big players but a tool to transform customer experiences.

In a fintech world shaped by innovation, Klara AI’s collaboration with Unlimit introduces financial solutions tailored for women in the EU. With secure Mastercard debit cards and seamless cross-border payments, this partnership exemplifies the inclusivity possible when technology meets purpose. While giants clash over AI, partnerships like these show how tech can still prioritize people.

In October, five new unicorns across AI, robotics, and fintech added $7 billion to Crunchbase’s Unicorn Board, now valued at $5.3 trillion. This surge highlights the relentless pace of innovation and investment in groundbreaking technologies. As key players compete for AI’s future, new entrants are rewriting the rules of disruption and value creation.