News

ChatGPT launched a year ago and the tech world will never be the same. The New York Times has an in-depth look at the impact of this revolutionary new product, focusing on big tech. It is interesting to me that one of the greatest tech launches of the past decade came not from a big tech company but from an AI startup that was not even seven years old and was set up as a non-profit research lab.

In the kickoff to the Holiday shopping season, consumers are spending, with retail sales up 1.1% and e-commerce sales up 8.5% according to Mastercard SpendingPulse.

While it is not yet a wave, fintech consolidation is starting to pick up. And yesterday we learned of another deal, this one in the investing space. While this deal was telegraphed a few months ago there was an official announcement yesterday. Leading investment fintech Yieldstreet is acquiring the real estate platform Cadre.

Swift announced today that the European Payment Council's awkwardly named One-Leg-Out Instant Credit Transfer scheme (OCT Inst) went live this week and it enables payments to and from Europe to be processed 24 hours a day, seven days a week.