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Cryptocurrency exchange Binance founder and CEO Changpeng Zhao speaks at a Binance fifth anniversary event in Paris, France, July 8, 2022. Former federal prosecutor Neama Rahmani agrees, adding that Zhao's personal wealth won't be affected by his sentence. That's a different siutation from Sam Bankman-Fried, the controversial ex-CEO and founder of crypto exchange FTX. Bankman-Fried received a 25-year prison term for crimes connected to the operation of his crypto exchange. "Negative long-term impact on Binance will diminish the value of CZ's investment in the crypto exchange," said Yadav.

Persons: Changpeng Zhao, Reuters Changpeng Zhao, Zhao, Gabriel Abed, Richard Jones, Tre Lovell, Neama Rahmani, David Ryder, Binance, Braden Perry, Sam Bankman, Joshua de Vos, de Vos, Fried, Yesha Yadav, That's, Forbes, he's, Lucas Kiely, Kiely —, —, Yadav, it's Organizations: Staff, Reuters, CNBC, U.S, U.S . Department of Justice, District, Toyota, Bloomberg, Getty, Bank, Commodity Futures Trading Commission, Vanderbilt University, Department, Securities and Exchange Commission, SEC Locations: Paris, France, Seattle, Zhao, Binance, Los Angeles, Seattle , Washington, Dubai, U.S, bitcoin, Iran

Sam Altman, CEO of OpenAI, at the Hope Global Forums annual meeting in Atlanta on Dec. 11, 2023. DAVOS, Switzerland — Sam Altman said he was 'surprised' by The New York Times' lawsuit against his company OpenAI, saying its artificial intelligence models didn't need to train on the news publisher's data. According to Altman, OpenAI wanted to pay the outlet "a lot of money to display their content" in ChatGPT, the firm's popular AI chatbot. "We were as surprised as anybody else to read that they were suing us in the New York Times. "We are open to training [AI] on the New York Times, but it's not our priority," Altman said in front of a packed Davos crowd.

Persons: Sam Altman, Altman, OpenAI, isn't, it's, ChatGPT Organizations: Hope, The New York Times, New York Times, Economic, Microsoft Locations: Atlanta, DAVOS, Switzerland, ChatGPT, Davos

Artificial intelligence algorithms are increasingly being used in financial services — but they come with some serious risks around discrimination. And the problem of amplifying existing biases can be even more severe when it comes to banking and financial services. As for financial services, Manji said a lot of the backend data systems are fragmented in different languages and formats. "Individuals have little knowledge of how AI systems work and that their individual case may, in fact, be the tip of a systems-wide iceberg. Among the top worries industry insiders expressed are misinformation; racial and gender bias embedded in AI algorithms; and "hallucinations" generated by ChatGPT-like tools.

Persons: Nabil Manji, Manji, they've, we're, You've, Banks, Banking's, Rumman Chowdhury, Twitter's, Chowdhury, Angle Bush, Bush, Frost Li, Li, Niklas Guske, Guske, it's, Goldman Sachs, Kim Smouter, Smouter, ethicists Organizations: Photodisc, Getty, Deloitte, CNBC, Microsoft, Google, Black, Artificial Intelligence, Tokyo University, Apple, New York Department of Financial Services, European Network, United Nations Locations: AMSTERDAM, Worldpay, Amsterdam, Chicago, Loup, United

AMSTERDAM, Netherlands — Major banks and fintech companies claim to be piling into generative artificial intelligence as the hype surrounding the buzzy technology shows no signs of fizzling out — but there are lingering fears about potential pitfalls and risks. Chalapathy Neti, head of AI at global bank messaging network Swift, described the progress made with ChatGPT and GPT-4 as "mind-boggling." The Netherlands' ABN Amro is one banking giant that's piloting the use of generative AI in its processes. It's also using it to help its employees gather data on customers to assist with answering queries and avoid repetitive questions. Indeed, the banks appeared unanimous in their hesitation to roll out ChatGPT-like tools to customer-facing scenarios.

Persons: Vreugdenhil, It's, Mariana Gomez de Organizations: ABN Amro, ABN, Mariana Gomez de la Villa, ING Bank Locations: Warsaw, Poland, AMSTERDAM, Netherlands, Amsterdam

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