Major record labels Sony Music, Universal Music Group and Warner Records sued artificial intelligence companies Suno and Udio on Monday, accusing them of committing mass copyright infringement by using the labels’ recordings to train music-generating AI systems. The companies copied …
CHICAGO (AP) — Facial recognition startup Clearview AI reached a settlement Friday in an Illinois lawsuit alleging its massive photographic collection of faces violated the subjects’ privacy rights, a deal that attorneys estimate could be worth more than $50 million. …
A majority of global insurers are actively endorsing the application of AI chatbots and generative AI in claims resolution processes, underwriting and customer fulfilment, according to a survey conducted by Gallagher Bassett, the claims-services provider and subsidiary of Arthur J. …
Insurance agents must now embrace the use of artificial intelligence, but they won’t be replaced by it. And the use of parametric policies will soon increase sharply across property insurance lines because that coverage lends itself perfectly to data-driven AI …
The Securities and Exchange Commission (SEC) this week charged Ilit Raz, CEO and founder of the failed artificial intelligence recruitment startup Joonko, with defrauding investors of at least $21 million. According to the SEC, Raz gave investors false and misleading …
Artificial intelligence and U.S. election have emerged as significant risks to businesses this year with an overwhelming 80% of owners worried their insurance will not cover a specific loss, a survey by insurance brokerage Gallagher showed on Wednesday. Companies are …
Billionaire entrepreneur Elon Musk on Tuesday moved to dismiss his lawsuit accusing ChatGPT maker OpenAI and its CEO Sam Altman of abandoning the startup’s original mission of developing artificial intelligence for the benefit of humanity and not for profit. Attorneys …
Executive Summary: While insurance leaders plan to use machine learning capability in their pricing and underwriting processes, only a small proportion actually have embraced the technology. They need to take the next step because these are essential tools that will …
The boom in artificial intelligence will increase banks’ dependence on big U.S. tech firms, creating new risks for the industry, European banking executives said. Excitement around using artificial intelligence (AI) in financial services – widely used already for detecting fraud …
The U.S. Justice Department and the Federal Trade Commission have reached a deal that allows them to proceed with antitrust investigations into the dominant roles that Microsoft, OpenAI and Nvidia play in the artificial intelligence industry, according to a source …
