Small Business Tech Roundup: Elon Musk: A LinkedIn Competitor Is In The Works
Sep 03, 2023 - forbes.com
Elon Musk has criticized LinkedIn, calling it 'cringe' and hinting at creating a competitor. Meanwhile, banks are training AI to act as financial advisors, with chatbots being programmed to interact with customers and address their financial queries. AI's share of U.S. startup funding doubled in 2023, despite a drop in investments across sectors. Synthetic identity fraud is at an all-time high, with a report by TransUnion revealing that synthetic identities, created by merging unrelated data, are being used to access and use sensitive information. Lastly, communications platform Twilio is expanding its CustomerAI capabilities with generative and predictive AI.
These developments highlight the increasing role of AI in various sectors, from social media to banking and customer service. However, they also underscore the need for robust fraud prevention tools to counteract the rise in synthetic identity fraud. While AI investments are on the rise, the sustainability of this trend remains to be seen.
Key takeaways:
Elon Musk has criticized LinkedIn and hinted at creating a competitor, although the feasibility of this is uncertain.
Banks are training AI to act as financial advisors, with chatbots being programmed to interact with customers and address their financial queries.
AI's share of U.S. startup funding doubled in 2023, indicating a significant increase in AI investments.
Synthetic identity fraud is at an all-time high, highlighting the need for organizations to constantly test new fraud prevention tools.
Twilio has expanded its CustomerAI capabilities with generative and predictive AI, aiming to improve customer experience and understand their needs better.
