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Seattle-area tech exec pleads guilty in scheme to obtain and launder $5.5M in PPP loans

GeekWire

submitted at least eight fraudulent PPP loan applications on behalf of six different companies to federally insured financial institutions. In support of the fraudulent loan applications, Mohan made numerous false and misleading statements about the companies’ respective business operations and payroll expenses, according to the DOJ.

Insurance 133
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Meet the Seattle-area startups that just graduated from Y Combinator

GeekWire

Neum AI, a platform designed to assist companies in maintaining the relevancy of their AI applications with the latest data. Gleam, a platform for insurance brokers to implement self-funded health plans for SMBs and startups. YC received more than 24,000 applications for this year’s summer batch.

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Zhixiaobao 2.0: A possible leap in financial AI

Dataconomy

• Quick take: Ant Group aims to redefine financial advising and insurance services with the introduction of a specialized Large Language Model (LLM) and its customer-centric app, Zhixiaobao 2.0. The specialized language model is presently undergoing rigorous evaluations on Ant’s platforms dedicated to wealth management and insurance.

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IT leaders grapple with shadow AI

CIO Business Intelligence

With the ability to instantaneously ingest reams of data using large language models (LLMs), generative AI technologies such as OpenAI’s ChatGPT and Google’s Bard can produce reports, contracts, and application code far surpassing earlier technologies in speed, accuracy, and thoroughness. Those early applications are now nearing fruition. “We

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Revisiting the repatriation debate: Are organizations rethinking the public cloud?

CIO Business Intelligence

Heinemeier Hansson observed that the public cloud makes sense for applications with runaway growth or wild peaks in usage, scenarios which never applied to Basecamp. “By It’s like paying a quarter of your house’s value for earthquake insurance when you don’t live anywhere near a fault line.”

Cloud 52
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CIOs press ahead for gen AI edge — despite misgivings

CIO Business Intelligence

But if there are any stop signs ahead regarding risks and regulations around generative AI, most enterprise CIOs are blowing past them, with plans to deploy an abundance of gen AI applications within the next two years if not already. in concert with Microsoft’s AI-optimized Azure platform. John Spottiswood, COO of Jerry, a Palo Alto, Calif.-based

CTO Hire 141
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GM-backed Cruise begins testing self-driving cars in Seattle to learn from hilly, wet environment

GeekWire

Along with data collection, Cruise is assessing the ongoing readiness of its autonomous vehicle system, which includes sensors, infrastructure, compute and network, hardware/software interface and applications. However, it also noted challenges with regulatory guidelines and concerns with privacy and liability.