While GenAI has great many uses, it can be put to misuse causing real chaos. Here is an interesting excerpt from the article below. Financial services and regulated entities are also concerned about the high level of fraud and fincrime, especially with the emergence of GenAI. GenAI can generate fake ID documents using techniques like image synthesis and data augmentation. Through image synthesis, GenAI algorithms learn from datasets of existing IDs to create realistic images resembling genuine documents. Data augmentation involves modifying elements like backgrounds, text, fonts, and holographic features to produce diverse ID samples. Additionally, GenAI learns from genuine ID templates to ensure new documents adhere to standardised formats and layouts. A better future for identity and KYC - ThePaypers

Bloomberg has reported that the retail giant- WALMART -is using a chatbot from Pactum AI to automate vendor negotiations. Walmart feeds its budgetary constraints and information about its goals into the program, and then leaves the chatbot to work out the agreement. Amazon and Walmart Use GenAI to Cut Vendor Costs (pymnts.com)

Did you know? There is an index to measure the explainability aspect of AI called the 'Stanford Transparency Index'. The Stanford Transparency Index, officially known as the Foundation Model Transparency Index (FMTI), is a comprehensive assessment tool developed by the Center for Research on Foundation Models (CRFM) at Stanford University. It evaluates the transparency of foundation model developers across various indicators. The FMTI scores developers on 100 transparency indicators, covering aspects such as how a company builds a foundation model, its functionality, and downstream usage. To know more, visit: Foundation Model Transparency Index (stanford.edu)

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Bloomberg has reported that the retail giant- WALMART -is using a chatbot from Pactum AI to automate vendor negotiations. Walmart feeds its budgetary constraints and information about its goals into the program, and then leaves the chatbot to work out the agreement. Amazon and Walmart Use GenAI to Cut Vendor Costs (pymnts.com)