🧠 Everyone is writing about it, so we have to do it too – the 4.0 version is even smarter and… funnier? It scored better in exams, it’s able to understand humour better, but it’s prone to “hallucinations” – meaning that it still can very confidently provide incorrect information. 
GPT-4 is OpenAI’s most advanced system, producing safer and more useful responses
GPT-4 can solve difficult problems with greater accuracy, thanks to its broader general knowledge and problem solving abilities. Learn moreOpenAI.com
The model can have various biases in its outputs—we have made progress on these but there’s still more to do. (…) We aim to make AI systems we build have reasonable default behaviors that reflect a wide swathe of users’ values, allow those systems to be customized within broad bounds, and get public input on what those bounds should be.
GPT-4 generally lacks knowledge of events that have occurred after the vast majority of its data cuts off (September 2021) and does not learn from its experience. It can sometimes make simple reasoning errors which do not seem to comport with competence across so many domains or be overly gullible in accepting obvious false statements from a user. And sometimes it can fail at hard problems the same way humans do, such as introducing security vulnerabilities into code it produces. OPENAI
7 investors reveal what’s hot in fintech in Q1 2023
The global downturn has impacted every sector, but fintech bore the brunt of it as public-market valuations fell off a cliff last year. Read the article ontechcrunch.com🪙 Interesting insights from fintech investors. To sum up: B2B payments and infrastructure remain on fire and most investors expect to see more flat and down rounds this year.
The global downturn has impacted every sector, but fintech bore the brunt of it as public-market valuations fell off a cliff last year. However, it appears that even though VCs are proceeding more cautiously than before and taking their time with due diligence, they are still investing. CB Insights recently found that two of the largest global VC firms, Sequoia Capital and Andreessen Horowitz, actually backed more fintech companies in 2022 than any other category. In both cases, about 25% of their overall investments went into fintech startups. While global fintech funding slid by 46% to $75.2 billion in 2022 from 2021, it was still up 52% compared to 2020 and made up 18% of all funding globally, proving that investors still have faith in fintech’s future. Mary Ann Azevedo
TECHCRUNCH
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Apple launches 'buy now, pay later' service in US
Apple on Tuesday launched its "buy now, pay later" (BNPL) service in the United States. Read the article onreuters.com💸 Apple has launched their take on BNPL services called Apple Pay Later. It’s a move that aims to “disrupt” the fintech sector in the US and challenge main competitors – Klarna and Affirm Holdings.
The service, Apple Pay Later, will allow users to split purchases into four payments spread over six weeks with no interest or fees, the company said. It will initially be offered to select users, with plans of a full roll-out in the coming months.
Users can get loans between $50 and $1,000 for online and in-app purchases made on iPhones and iPads with merchants that accept Apple Pay, according to the company.
It’s a sign that the BNPL market is growing and big players are taking a proper punt at providing these services. Chavi Mehta and Akash Sriram
REUTERS
