Using data analytics, AI technology to curb benefits fraud
The numbers in the Toronto Transit Commission’s benefits fraud investigation are staggering — 725 total cases, 220 dismissals, 120 arbitrations, 10 employees charged and more than $3 million in exposure. “All this stuff is still ongoing. The insurance company hasn’t cut us a cheque yet,” Mark Russell, staff sergeant, investigative services at the TTC, told […]
“Movement ecologists” are turning technology against the global trade in illegal seafood
Conservationists were eager to track grey reef sharks’ as they swam across a protected shark sanctuary in the South Pacific. Excited researchers watched the movements of tagged sharks leaving the Marshall Island’s Bikini Atoll. Suddenly, eight tags were beelining across the ocean toward the island of Guam. The scientists thought they had stumbled across some […]
Efforts to Acknowledge the Risks of New A.I. Technology
SAN FRANCISCO — In July, two of the world’s top artificial intelligence labs unveiled a system that could read lips. Designed by researchers from Google Brain and DeepMind — the two big-name labs owned by Google’s parent company, Alphabet — the automated setup could at times outperform professional lip readers. When reading lips in videos […]
Technology to the rescue of worker-starved restaurant sector
Bill payments and meal ordering via smartphone easing need for servers Metro Vancouver’s severe shortage of hospitality workers has restaurant owners tweaking business plans and looking to new technology to operate efficiently with fewer servers. Fast-food restaurants have long been adopting self-serve kiosks to enable customers to order meals without speaking with restaurant employees. Pubs […]
Bitcoin off slightly; stablecoin Tether regains footing, but losing popularity
Tether trades back toward $1, but investors are already shopping elsewhere Cryptocurrency prices are trading mostly unchanged to begin the week. Bitcoin, the world’s largest digital currency, is showing small losses in early Monday trading, with a single bitcoin BTCUSD, -0.62% last going for $6,446.21, down 0.6% since Sunday at 5 p.m. Eastern Time on […]
Big stock rally in China bolsters markets across Asia
Chinese stocks surged for a second day on Monday, propelled by a chorus of reassuring comments from leaders and top regulators. The Shanghai Composite rallied 4.6% to 2668 and the smaller Shenzhen Composite soared roughly 5.4%, putting both on pace for their best day in more than three years. The Shanghai Composite SHCOMP, +4.09% closed […]
Europe stocks mostly higher, but Italy falters
Fiat surges on deal to sell auto-parts unit for €6.2 billion European stocks saw modest gains on Monday, but Italian stocks gave up an earlier run higher as investors remained nervous about budget wrangling between that country and the European Union. Helping out sentiment was a second strong day of gains for Chinese stocks, as […]
Dollar strengthens as sterling and euro fall prey to political pressure
Central bank decisions and an elections on the calendar for the week ahead Currency traders are watching as the risk and rhetoric around recent themes—like Italy’s budget, Brexit and U.K. leadership—are heating up once more. Meanwhile, the greenback started the week slightly stronger, with the ICE U.S. Dollar Index DXY, +0.32% up 0.1% at 95.820, […]
Jet Airways cuts workforce, squeezes operations to battle financial crisis
Budget airline Jet Airways is cutting its workforce and squeezing its operations in order to battle its ongoing financial crisis. Around 15 people at manager and general manager level positions in various departments such as engineering, security and sales have been asked to leave this month, reported Economic Times. The financial daily report quoted a […]
Buyers market for used cars
The balance of power in the used car market is shifting towards shoppers as improved data and online offerings create more opportunities to push for the best price. A fast-evolving online marketplace is providing more intelligence on the fair value of cars, said Cliff Banks, a Detroit-based auto retail expert. “I don’t know that it […]