18 Jul 2025, 12:50

Netflix AI: The Astonishing Leap in Film and Show Production

BitcoinWorld Netflix AI: The Astonishing Leap in Film and Show Production In an era where digital innovation constantly reshapes industries, the entertainment giant Netflix is making waves by embracing cutting-edge Netflix AI technology. For those keenly observing the crypto space, the parallels are striking: disruptive tech driving efficiency and new possibilities. Just as blockchain promises to revolutionize finance, artificial intelligence is now poised to transform how our favorite shows and films are made, delivering content faster and more affordably than ever before. How is Generative AI Revolutionizing Netflix Productions? The buzz around artificial intelligence has been immense, with many companies touting its potential. However, Netflix has moved beyond talk, confirming its active deployment of AI in its original content. Co-CEO Ted Sarandos revealed a landmark moment: the very first instance of Generative AI final footage appearing on screen in an Argentine show titled "El Atonata." This wasn’t just a minor experiment. Netflix’s internal production team collaborated with external producers to utilize AI for a complex scene involving a building collapse. The results were astounding: the scene was completed ten times faster than it would have been with traditional visual effects tools, and at a significantly lower cost. This demonstrates the tangible benefits that AI brings to the production pipeline, proving that it’s not just a futuristic concept but a practical tool delivering immediate advantages. Sarandos emphasized that AI is not merely about cost reduction but about enhancing creativity. "We remain convinced that AI represents an incredible opportunity to help creators make films and series better, not just cheaper. There are AI-powered creator tools. So this is real people doing real work with better tools," he stated. This perspective highlights a crucial shift: AI as an assistant, empowering human creators to achieve more ambitious visions with unprecedented speed and efficiency. Unleashing Advanced Visual Effects AI for All One of the most exciting implications of Netflix’s embrace of AI lies in the realm of visual effects. Historically, advanced visual effects, such as realistic de-aging or complex environmental destruction, were the exclusive domain of colossal-budget Hollywood blockbusters. The sheer time, cost, and specialized expertise required made them inaccessible for most productions. With Visual Effects AI , this landscape is rapidly changing. As Sarandos noted, AI democratizes access to these sophisticated tools. What once took weeks or months of painstaking manual work can now be achieved in a fraction of the time, often with superior quality and consistency. This means: Democratization of High-End VFX: Smaller productions or shows with tighter budgets can now incorporate visual effects that were previously out of reach. Accelerated Workflows: AI streamlines labor-intensive processes like rotoscoping, compositing, and rendering, freeing up artists to focus on creative direction. Enhanced Creative Iteration: Faster turnaround times allow directors and VFX supervisors to experiment with more options and refine scenes quicker, leading to a higher quality final product. The application of AI in pre-visualization and shot-planning further amplifies these benefits. Directors can use AI video production tools to rapidly prototype scenes, experiment with camera angles, and plan complex sequences before ever stepping onto a physical set. This reduces costly reshoots and ensures a more efficient use of resources during principal photography. Beyond Production: The Broader Impact of AI in Entertainment at Netflix While the use of AI in content creation is groundbreaking, Netflix’s application of AI extends far beyond the production studio. Co-CEO Greg Peters highlighted that the company is leveraging AI in entertainment across various other critical areas that directly impact user experience and business operations. These include: Personalization: AI-powered algorithms analyze viewing habits to provide highly tailored content recommendations, ensuring users discover shows and films they are likely to enjoy, thereby increasing engagement and retention. Search: Earlier this year, Netflix rolled out AI-powered search capabilities, making it easier and more intuitive for users to find specific titles or explore genres, enhancing usability. Advertising: With Netflix’s recent foray into ad-supported tiers, AI plays a crucial role in optimizing ad placement and targeting. The company aims to roll out interactive ads in the second half of this year, a move that will likely be heavily reliant on AI to deliver personalized and engaging ad experiences. These broader applications underscore Netflix’s strategic commitment to AI as a foundational technology across its entire ecosystem. The goal is not just to produce content more efficiently but to enhance every touchpoint of the user journey, from discovery to consumption. What Does This Mean for the Future of Content Creation? The integration of Netflix AI into film and show production signals a significant shift in the entertainment industry. It’s a testament to the fact that AI is no longer a theoretical concept but a practical, transformative force. This evolution brings forth several exciting prospects: Increased Output: With faster and more cost-effective production, studios like Netflix can potentially deliver a greater volume of high-quality content to meet ever-growing global demand. New Creative Possibilities: AI tools can inspire new forms of storytelling and visual artistry that were previously unimaginable or too resource-intensive. Creators are empowered to push boundaries. Talent Evolution: The role of human artists and technicians will evolve. Instead of being replaced, they will collaborate with AI, focusing on higher-level creative decisions and leveraging AI for repetitive or complex tasks. This fosters a new generation of hybrid creatives. Netflix’s strong financial performance, reporting revenue of $11.08 billion (up 16% year-on-year) and profit of $3.13 billion in the second quarter, provides the financial muscle to continue investing heavily in these AI advancements. Their success in attracting viewers, with over 95 billion hours of content watched in the first half of 2025 and non-English titles accounting for one-third of all views, further validates their global strategy and the need for efficient, scalable production methods. The move by Netflix is not an isolated incident but part of a broader trend of technology giants embracing AI to drive innovation and efficiency. It serves as a compelling case study for how advanced technologies can fundamentally reshape established industries, proving that the future of entertainment will be inextricably linked with intelligent systems. To learn more about the latest Generative AI trends, explore our article on key developments shaping AI in Entertainment and its future institutional adoption . This post Netflix AI: The Astonishing Leap in Film and Show Production first appeared on BitcoinWorld and is written by Editorial Team

18 Jul 2025, 12:40

Bit Digital’s Bold Ethereum Investment: Surpassing 120,000 ETH Holdings

BitcoinWorld Bit Digital’s Bold Ethereum Investment: Surpassing 120,000 ETH Holdings Ever wonder what it takes for a company to make a significant splash in the ever-evolving world of digital assets? Well, Bit Digital, Inc. (Nasdaq: BTBT) just did exactly that, cementing its position with a monumental acquisition. This isn’t just another headline; it’s a strategic move that highlights the growing confidence in Ethereum and its foundational role in the future of finance. Let’s dive deep into Bit Digital’s latest bold move and understand the implications of their expanding Bit Digital ETH holdings . Bit Digital’s Astounding ETH Holdings: A Strategic Leap? In a significant announcement that reverberated through the crypto community, Bit Digital, Inc. confirmed a substantial increase in its Bit Digital ETH holdings . The company revealed it had purchased approximately 19,683 ETH. This impressive acquisition was made possible using proceeds from a successful $67.3 million offering, a testament to their strong financial position and strategic foresight. This recent purchase isn’t just a one-off; it elevates their total Ethereum reserves to a staggering 120,306 ETH. Imagine holding that much of one of the world’s leading cryptocurrencies! This move isn’t merely about accumulating digital assets; it’s about executing a deliberate strategy to position Bit Digital at the forefront of the digital economy. The sheer volume of their Bit Digital ETH holdings underscores a long-term commitment to the Ethereum ecosystem, signaling a profound belief in its enduring value and utility. Why Bit Digital’s Ethereum Investment Signifies a New Era? Bit Digital’s decision to significantly increase its Ethereum investment is not arbitrary. The company clearly articulated its belief that Ethereum is “central to future digital financial infrastructure.” This perspective aligns with a growing consensus among tech innovators and financial institutions worldwide. Ethereum, with its robust smart contract capabilities and burgeoning decentralized finance (DeFi) ecosystem, is often seen as the backbone for the next generation of financial services, extending far beyond traditional banking paradigms. Consider the implications of this strategic focus: Foundation for Innovation: Ethereum provides the programmable blockchain necessary for a vast array of decentralized applications (dApps), from sophisticated lending platforms to the booming non-fungible token (NFT) market. Scalability and Upgrades: Ongoing developments, particularly with Ethereum’s transition to a Proof-of-Stake consensus mechanism (often referred to as Ethereum 2.0 or the Merge), promise enhanced scalability and efficiency, making it even more attractive for large-scale enterprise adoption. Network Effect: The extensive global developer community and rapidly expanding user base contribute to Ethereum’s powerful network effect, reinforcing its position as a dominant player in the blockchain space. By making such a substantial Ethereum investment , Bit Digital is essentially placing a massive bet on this future, signaling confidence not just in the asset itself, but in the entire technological paradigm it represents. Unlocking Passive Income: The Power of Crypto Staking Yield Beyond simply holding ETH, Bit Digital is actively engaging with the network through crypto staking yield . The company stated its commitment to “continue to stake its ETH to support the network and earn yield.” But what exactly does this mean, and why is it such a smart move for a company with such significant holdings? What is Staking? Staking involves locking up a certain amount of cryptocurrency to support the operations of a blockchain network. In return for contributing to the network’s security and validating transactions, stakers receive rewards, often in the form of additional cryptocurrency. For Ethereum, this process is central to its new Proof-of-Stake (PoS) consensus mechanism, where participants validate transactions and secure the network without relying on energy-intensive mining. Benefits for Bit Digital: Passive Income Generation: Staking allows Bit Digital to earn additional ETH on their substantial holdings, creating a continuous, low-effort revenue stream. This turns their assets into productive capital. Network Support: By staking, they actively contribute to the security and stability of the Ethereum network, reinforcing its value proposition and fostering a healthier ecosystem. Increased Holdings: The yield earned from staking further amplifies their overall crypto staking yield and total ETH reserves over time, compounding their investment. This strategy transforms their holdings from a static asset into a dynamic, income-generating one, showcasing a sophisticated approach to digital asset management that goes beyond mere speculation. The Growing Wave of Institutional Crypto Adoption Bit Digital’s bold move is part of a larger, undeniable trend: the accelerating pace of institutional crypto adoption . Once considered a niche or speculative asset class, cryptocurrencies, particularly Bitcoin and Ethereum, are increasingly finding their way into the portfolios and balance sheets of major corporations, investment funds, and even sovereign wealth funds worldwide. Why the Shift Towards Digital Assets? Inflation Hedge: In an environment of rising inflation and economic uncertainty, some institutions view cryptocurrencies as a potential hedge against traditional fiat currency depreciation. Portfolio Diversification: Adding digital assets can offer portfolio diversification, potentially providing returns uncorrelated with traditional financial markets. Technological Revolution: There’s a growing recognition of blockchain technology as a fundamental shift in how value is transferred, stored, and managed globally. Regulatory Clarity: As regulatory frameworks evolve and become clearer in major jurisdictions, more institutions feel comfortable entering and operating within the crypto space. Companies like MicroStrategy, Tesla, and now Bit Digital are leading the charge, demonstrating that institutional crypto adoption is no longer a theoretical concept but a tangible reality shaping global finance. This influx of institutional capital brings increased legitimacy, liquidity, and stability to the crypto markets, paving the way for wider acceptance. Crafting Your Digital Asset Strategy in a Dynamic Market Bit Digital’s actions offer valuable lessons for anyone considering or refining their own digital asset strategy . Whether you’re an individual investor or a corporate entity, understanding the underlying principles behind such large-scale moves can inform your decisions and help you navigate this exciting market. Key Takeaways for Your Strategy: Long-Term Vision: Bit Digital isn’t just trading; they’re investing for the long haul, believing in Ethereum’s fundamental technology and future potential. A robust digital asset strategy often benefits significantly from a long-term perspective. Diversification (or Concentration): While Bit Digital is concentrating heavily on ETH, smaller investors might consider diversifying across different assets based on their risk tolerance and investment goals. Yield Generation: Explore opportunities like staking, lending, or providing liquidity to maximize returns on your holdings, but always understand the associated risks and smart contract security. Stay Informed: The crypto market moves at an incredibly fast pace. Continuous learning about new developments, regulatory changes, and technological advancements is crucial for informed decision-making. Risk Management: Never invest more than you can afford to lose. Volatility is inherent in crypto markets, and a sound digital asset strategy includes robust risk assessment and setting clear investment limits. Bit Digital’s latest acquisition is a powerful reminder of the strategic thinking required to navigate and thrive in the burgeoning digital asset landscape. It underscores a clear commitment to Ethereum’s future and a sophisticated approach to generating value from their holdings. In conclusion, Bit Digital’s significant purchase of 19,683 ETH, boosting their total holdings to over 120,000 ETH, marks a pivotal moment for the company and the broader crypto market. Fueled by a $67.3 million offering, this move highlights their profound belief in Ethereum’s role as a cornerstone of future digital financial infrastructure. Their commitment to staking these assets further amplifies their strategic vision, turning a significant holding into an income-generating powerhouse. This action not only strengthens Bit Digital’s position but also serves as a powerful indicator of the increasing confidence and active participation of institutional players in the digital asset space, signaling a maturing market poised for further innovation and growth. Frequently Asked Questions (FAQs) Q1: What is Bit Digital’s total ETH holding after this purchase? A1: After purchasing approximately 19,683 ETH, Bit Digital’s total Ethereum holdings have reached roughly 120,306 ETH. Q2: How did Bit Digital fund this significant ETH acquisition? A2: The company utilized proceeds from a successful $67.3 million offering to fund the purchase of the additional ETH. Q3: Why is Bit Digital staking its ETH? A3: Bit Digital stakes its ETH to support the Ethereum network, contribute to its security and stability, and earn yield, thereby generating passive income from its holdings. Q4: What is Ethereum’s significance according to Bit Digital? A4: Bit Digital views Ethereum as central to future digital financial infrastructure, highlighting its importance in the evolving digital economy and its potential for decentralized applications. Q5: Does this move reflect a broader trend in the crypto market? A5: Yes, Bit Digital’s significant investment and staking strategy are indicative of a growing trend of institutional crypto adoption, with more companies recognizing the long-term value and potential of digital assets. Q6: How can individuals learn from Bit Digital’s strategy? A6: Individuals can learn to adopt a long-term vision, explore yield-generating opportunities like staking, stay informed about market developments, and prioritize robust risk management in their own digital asset strategy. Enjoyed this deep dive into Bit Digital’s impressive Ethereum strategy? Share this article with your friends, colleagues, and fellow crypto enthusiasts on social media to spread the word about the exciting developments in institutional digital asset adoption! To learn more about the latest Ethereum investment trends, explore our article on key developments shaping Ethereum institutional adoption. This post Bit Digital’s Bold Ethereum Investment: Surpassing 120,000 ETH Holdings first appeared on BitcoinWorld and is written by Editorial Team

18 Jul 2025, 12:20

Trump tariffs derail Europe’s earnings reports as EU scrambles for deal

Earnings season just exposed exactly how much Europe is bleeding from Donald Trump’s latest round of tariffs. Industrial and consumer-facing companies across the region are now reporting weaker profits, rising expenses, and slower investment as the impact of U.S. trade policies finally crashes into their bottom lines. What started as a mild 0.2% drop in expected profits for firms on the Stoxx Europe 600 index has now become a projected 0.7% decline, according to LSEG, as more companies speak out about the real-world consequences of escalating trade tensions. Europe’s profit margins are slim The biggest names in manufacturing are already taking hits. Jaguar Land Rover , owned by Tata Motors, said its retail sales dropped 15.1% for the quarter that ended June 30. The company blamed a complete stop in U.S.-bound shipments in April, directly linked to the new American import tariffs. Volvo Group’s CEO, Martin Lundstedt, said weak North American demand, driven by both the tariffs and the Environmental Protection Agency’s 2027 emissions rules, forced them to “reduce production capacity” on that side of the Atlantic. Norway-based Tomra Systems, which builds machines for recycling waste, said its clients are now backing off from buying new equipment. In its own words, customers are hesitating due to “macroeconomic and tariff uncertainty,” which has started delaying investment decisions across the board. The same mood has taken hold at Swiss industrial heavyweight ABB. The company said buyers in its robotics division are now in a “wait-and-see mode” because of continued tariff complications , which has already led to project delays. EU lines up countermeasures while pushing talks With less than two weeks until Trump’s self-imposed August 1 deadline, officials in Europe are scrambling to stop another wave of duties. Negotiations between the European Union and the United States are happening behind closed doors, but there’s no guarantee they’ll end in a deal. If they don’t, Brussels is preparing to retaliate. White House press secretary Karoline Leavitt said the European side is “very eager” to strike a trade agreement. She told reporters Thursday that Brussels is finally exploring “ways to lower their tariff and their non-tariff barriers that we have long said harm our workers and our companies.” But while public talk suggests cooperation, behind the scenes, Brussels is building a legal and political wall of countermeasures. Michal Baranowski, Poland’s undersecretary at the Ministry of Economic Development and Technology, broke down the plan in an interview with CNBC’s Europe Early Edition. “The first part of the EU’s strategy is to negotiate with U.S. officials in good faith,” he said . “The second one is, let’s prepare for countermeasures in case we don’t [reach a deal]. And we have countermeasures on both the steel and aluminium tariffs as well as the initial package of 72 billion [euros] for so-called reciprocal tariffs.” Baranowski said they’re also watching other countries in similar situations to get a broader view of how everyone else is responding, though coordination isn’t the goal. Baranowski also made it clear that the transatlantic trade link is vital for both sides, saying, “Washington has as much to gain or to lose from this relationship as Europe.” His remarks came shortly after Maros Sefcovic, the EU’s top trade official, visited Washington for further discussions. But the urgency is clear. The U.S. and EU are tied together in the biggest trade and investment partnership on Earth. Together, they account for nearly 30% of the world’s trade in goods and services and 43% of the world’s GDP. In 2024, total trade between the two hit 1.68 trillion euros, or around $1.96 trillion. That breaks down to 4.6 billion euros in daily transactions; money that both sides depend on to keep jobs, supply chains, and businesses moving. Trump has repeatedly complained that this relationship is unfair. He continues to point at the EU’s trade surplus with the U.S. as proof that Europe is taking advantage of American industry. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites

18 Jul 2025, 12:00

Israel's stock market defies Middle East tensions to hit new highs

Israel has recorded the highest stock market performance in the Middle East in years. The country has also encountered significant economic growth. Notably, all this takes place during a deadly war in the country that commenced on October 7, 2023, and has lasted for 22 months now. Despite these challenges, the country’s economic status continues to record impressive results amid growing foreign investments as investors’ confidence rises after a 12-day clash with Iran . Israel’s economy thrives in the face of a devastating war Israel’s Tel Aviv Stock Exchange (TASE) shows desirable outcomes after the country faced a significant drop of approximately 23% in its stock market just after it declared war in October, and also during the Hamas attack. Interestingly, the results were the highest ever achieved, exceeding levels recorded before the war began. To support this claim, analysis from sources dated July 17 reveals that TASE soared more than 200% compared with the outcome released in October 2023. In 2023, Israel’s Gross Domestic Product (GDP) decreased by around 20% due to reduced investments and consumer spending in the face of the devastating war. However, in 2024, the outcome started taking an impressive turn, recording a 2% moderate growth and GDP growth of 1%. The government had increased its spending, playing a crucial role in this growth. Following this tremendous success, the OECD has anticipated a 4.9% economic boom in the country in 2026. Another significant achievement Israel experienced in 2024 was 161,000 new trading accounts created in the country’s capital market, based on a report released on the Tel Aviv Stock Exchange website this month. These trading accounts were triple the number of accounts opened in 2023. TASE reports also highlighted that 87,000 new trading accounts were opened in 2025. About 33,000 of them were located in investment companies. The only way to go was up for Israel after disruptions In the report, Hadar Romano, a Data & Information Services Manager at TASE, stated that 2023 came with several uncertainties. She then highlighted that by 2024, they noticed some changes, which included more people getting involved in the capital market. Romano added that the individuals opened trading accounts while considering the low prices displayed in TASE’s indices. Based on her argument, these enabled them to access the local capital market easily, and are also the factor that drove trading volumes to high levels. Avi Hasson, Startup Nation Central CEO in Israel, commented on the situation. He highlighted several factors behind the increased market sentiment in the country. According to Hasson, global investors have shifted their focus to Israel following the events in the past 22 months. They speculated that the risks around the country’s security and economy had reduced, he explained. Hasson emphasizes the role of the tech sector in Israel’s economy With these positive outcomes in its economy, Israel has undermined its enemy’s strength, mostly Hezbollah in Lebanon. US intervention heavily swayed the balance of power in the Israel-Iran conflict . Hasson noted that Israel’s tech market, employing various energy skills, its increasing population, and new startups have attracted international investors and firms. He continued that they considered the Middle East’s future, not the current situation. The CEO emphasized Israel’s technology sector as the main factor behind its economic success. He highlighted that around 20% of Israel’s GDP and 56% of its exports come from advanced tech goods and services. The country’s government support for experimentation and development has been the primary factor behind this achievement. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More

18 Jul 2025, 12:00

Taiwanese tech firms to throttle China business over cyber threats, security concerns

Officials announced on Friday that Taiwan is imposing fresh restrictions on exports of domestically developed technology to several leading Chinese firms, citing national security concerns. In Taipei, Vice President Hsiao Bi‑khim acknowledged that talks between state authorities and private-sector players had been tough, as mentioned in a Bloomberg report. When asked about the blacklist of Chinese chip makers, she said, “This has been a very challenging conversation between governments and private businesses,” and added, “But we have generally aligned in understanding that ultimately, export control is to ensure that technology innovated, developed, and produced in Taiwan, is not used to compromise our security or to harm the safety and security of the Taiwanese people.” She noted Taiwan will coordinate with foreign partners to defend values central to its society. Government sources have stressed these measures form part of ongoing trade negotiations with the United States. In June, Taipei added Huawei Technologies Co . and its fabrication partner SMIC to its restricted‑entities list. Officials said the move aims to stop weapons from spreading and reduce other security threats. Under the updated regulations, local suppliers must obtain government authorization before engaging with any organization on the strategic high‑tech commodities list. Earlier this year, Bloomberg reported that a number of Taiwanese vendors were helping Huawei establish chip‑manufacturing sites in southern China, territory Beijing claims and has threatened to seize if peaceful reunification fails. Chinese cyber threats targeted Taiwan’s chip sector At the same time, Reuters reported, researchers at Proofpoint cautioned on Wednesday that China‑aligned hacking groups have intensified campaigns to infiltrate Taiwan’s semiconductor sector and the analysts who cover it. “We’ve seen entities that we hadn’t ever seen being targeted in the past being targeted,” said Mark Kelly, a threat researcher specializing in China‑related cyber operations. Proofpoint traced at least three separate China‑linked groups running campaigns between March and June, and warned some may still be active. These attacks happened as the U.S. tightened limits on American‑designed chips going to China, and as China scrambled to replace its shrinking stock of advanced U.S. parts, especially for AI. Although they declined to name specific victims, the analysts told Reuters that roughly 15–20 organizations, including small local suppliers, banking analysts in the U.S., and large multinationals, had been targeted. Major Taiwanese foundries such as TSMC, MediaTek, UMC, Nanya Technology, and RealTek were contacted. It remains unknown whether any breaches succeeded. In May, Taiwan’s AI exports jumped 38.6% year‑on‑year to $51.74 billion. That was the fastest pace in nearly 15 years and the first time exports exceeded $50 billion, the finance ministry said. Exports rose for the 19th month in a row, beating the 25% increase economists expected and April’s 29.9% rise. Companies like TSMC, the world’s biggest contract chipmaker, supply Nvidia, Apple and other major tech firms. The ministry said strong AI demand and buyers ordering early to avoid possible U.S. tariffs helped boost May exports. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More

18 Jul 2025, 11:30

Citigroup enhances FX risk management using AI

Citigroup has partnered with Singapore-based fintech firm Ant International to launch a pilot program that aims to enhance foreign exchange (FX) risk management using artificial intelligence. Ant International is an affiliate of China’s fintech giant Ant Group, founded by billionaire Jack Ma, providing global digital payment, digitization and financial technology with operations across Asia, Europe, the Middle East and Latin America. The pilot program was originally developed for aviation According to Citigroup and Ant International on Friday, the initiative integrates Citi’s Fixed FX Rates solution, which is already widely used by clients in sectors like e-commerce, with Ant International’s Falcon Time-Series Transformer (TST) model, an AI-powered forecasting tool with nearly 2 billion parameters and the ability to help businesses reduce hedging FX costs. The pilot program was originally developed to serve aviation clients, but it has shown great potential in the risk management sector. It has already been used in live transactions with major Asian airlines and the companies claim that it was able to reduce cost in the airline’s fixed FX hedging for online ticket sales. The pilot program was originally developed to serve aviation clients. Source: @Ant_Intl . The results are encouraging. Kelvin Li, general manager of Platform Tech at Ant International, said the achievement shows how cost efficiency can be achieved with AI-enabled FX hedging. He also expressed enthusiasm for the collaboration with Citi as it will help them reach more businesses and industries. The launch comes about half a year after Citi started its roll out of new AI tools for employees in eight countries, and providing the same level of access to 140,000 employees globally. Large banks have been using AI tools in more specific ways Since the AI boom started, various industries have gradually shifted to adapt to the new development, and the banking sector has not been left behind. According to reports, large banks are increasingly deploying AI tools for targeted applications to enhance efficiency, reduce costs, and improve decision-making. Good examples include Morgan Stanley with its chatbot which was created to aid financial advisors in interactions with clients, and Bank of America’s virtual assistant Erica, created to focus on the day-to-day transactions of retail clients, using it to flag suspicious activity with greater precision. JPMorgan Chase reportedly now uses AI for real-time risk assessment and regulatory compliance. It also operates the COiN platform, which reduces time spent on manual reviews by helping to analyze legal documents. HSBC has also taken to using AI to detect money laundering patterns, a move it claims has improved detection to 20% faster than legacy systems. Commentators believe this widespread adoption of AI in the financial industry is encouraged by the desire of the big banks to outdo each other and stay relevant. Regulatory support has also played a role in the adoption. In 2024, the Federal Reserve stated that AI could save the banking sector $80 billion annually by 2030. KEY Difference Wire : the secret tool crypto projects use to get guaranteed media coverage