In today’s newsletter:

• News - 💸 AI Helps Treasury Catch $1B in Fraud

• Productivity - 🚀 Streamline Your Meetings with AI Assistance

• Culture - 🗣️ AI Brings a Mother's Voice Back

Check out our Meme of the Day at the bottom of the newsletter for your daily dose of AI-powered humor!

💸 AI Helps Treasury Catch $1B in Fraud

AI is stepping up its game in the fight against financial crime. The U.S. Treasury Department used machine learning in 2024 to uncover $1 billion in check fraud, tripling the amount recovered from the previous year. AI's ability to sift through mountains of data at lightning speed is transforming fraud detection, helping the Treasury prevent more than $4 billion in fraud in just one fiscal year.

While generative AI tools like ChatGPT make headlines, Treasury relies on machine learning, a different AI branch that excels at identifying hidden patterns in massive data sets. With fraud on the rise, especially post-COVID, AI is crucial in protecting taxpayer money. But as AI exposes new threats, including deepfake scams, Treasury officials stress that humans still play a key role in confirming fraud cases. And this is just the beginning—AI’s influence in preventing financial crime is set to expand, with the Treasury ramping up efforts to strengthen their tools and collaborate with state agencies.

🗞️ In Other News…

• Former OpenAI CTO Mira Murati is raising venture capital for her new startup and recruiting talent from OpenAI, highlighting growing competition in the AI industry.

• Emteq Labs unveils smart glasses that track emotions through facial movements, aiming to enhance mental health and dietary monitoring while raising privacy concerns.

• Europe, despite AI advancements in predicting extreme weather, struggles with communication, preparedness, and political will to mitigate the growing impacts of climate-driven disasters like floods.

• AI-generated celebrity endorsements are spreading false political claims online, making it harder to distinguish real from fake content, especially as elections near, with experts urging better verification and awareness to combat misinformation.

• Boston Dynamics and Toyota Research Institute have partnered to develop general-purpose humanoid robots, combining TRI's AI-based learning techniques with Boston Dynamics' Atlas platform to explore new capabilities and tackle fundamental robotics challenges.

🚀 Streamline Your Meetings with AI Assistance

Superjoin is an AI-powered tool that simplifies meeting management by offering automatic scheduling, real-time transcription, and detailed meeting summaries. It helps teams stay organized and ensures important points and tasks aren't missed during discussions, making it a great resource for remote or busy teams.

The tool also provides AI-generated insights and follow-up recommendations, streamlining post-meeting action items. With integration into existing workplace tools, Superjoin boosts productivity by reducing the time spent on managing meetings and enhancing overall workflow efficiency.

🗣️ AI Brings a Mother's Voice Back

When ALS took away April Kerner's ability to speak, she feared she'd never be able to communicate with her family again. Diagnosed in 2022, the disease gradually affected her voice, leaving her unable to share everyday moments with her children. However, thanks to ElevenLabs, an AI company specializing in creating human-like text-to-speech programs, April can now use a voice that sounds remarkably close to her original one. By typing with her eyes, she can talk to her family in a way that feels familiar, making a powerful emotional connection despite the disease's impact.

Though the AI-generated voice isn't perfect, the Kerners are overjoyed to hear April's voice again. Her children love listening to her read bedtime stories, and for April, it’s a way to bond with them in a meaningful way. This technology has restored a sense of independence for April, giving back something ALS had taken from her. Despite the challenges, April remains motivated to keep fighting, determined to be there for her family and raise awareness about ALS.

VC Fundraising Rounds

• Terray Therapeutics, a biotechnology company that propels drug discovery into the information age, has raised $120M in Series B funding. (10/17/24)

• Trail Security, an intelligent data protection platform that builds solutions for data loss prevention, has announced $35M in Series A funding. (10/17/24)

• Lightmatter, a Mountain View-based startup developing photonic technology for datacenter networking chips, announced on Wednesday it has secured $400M in a Series D funding round, bringing its valuation to $4.4B. (10/16/24)

• Capacity, an AI-powered support automation platform, has raised over $26M in a Series D funding round and acquired several companies to drive its rapid growth. (10/16/24)

Meme of the Day

Earn Free Rewards 🎁 

Get rewarded for helping others level up their AI game 👇️

25 referrals - 30 minute chat with Ben Chon, founder of rareliquid

1 referral - Daily VC AI Fundraising Tracker

You currently have 0 referrals.

Copy & paste this link: https://www.rarecandyai.com/subscribe?ref=PLACEHOLDER