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Google ditches plans to launch banking app

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Plans to open a all-in-one banking app have been ditched by Google

The tech company has stopped working on its Plex service, which works by allowing users to do their banking via the Google Pay app.

Google’s service was supposed to let users sign up and open new bank accounts offered by a selection of traditional banks. The user would then be able to manage those accounts via the app.

According to a report by the Wall Street Journal, Google canceled the project due to a series of missed deadlines and because an executive who pushed for the project left the company.

The Plex service wasn’t meant to put Google in direct competition with banks, according to reports that came out prior to the company revealing the program.

Instead, Google planned to partner up with financial institutions in order to provide the service, with those banks providing accounts with no monthly account fees or overdraft fees.

Like some other online banks, Google’s app would have let users set things like savings targets and automatic transactions. Some of the banks that the tech giant had hoped to partner up with include Citi bank and SEFCU.

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Can big tech be trusted to use AI ethically?

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Big tech giants like Google, Microsoft, and IBM announced comprehensive plans to enhance AI safety measures – but is that enough to convince the everyday worker?

On this episode of Ahron & Mike Live – Can big tech be trusted with AI? “The Fall Guy” takes a hard hit, Apple’s Top Ten controversy and a robot performs surgery on a piece of corn.

Ticker’s Ahron Young & Mike Loder discuss. #featured

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OpenAI terminates AI risk protection team

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Less than a year after its inception, OpenAI has made the decision to dissolve its team dedicated to researching long-term risks associated with AI.

The team, formed with the intention of studying and mitigating potential risks stemming from advanced AI systems, was a notable part of OpenAI’s broader mission to ensure that AI is developed and used responsibly.

Dr Karen Sutherland from University of the Sunshine Coast #featured

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What are the biggest takeaways from the Second global AI summit?

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Top executives from leading tech companies committed to prioritising safety in the development and deployment of artificial intelligence technologies at the Second Global AI Summit.

During the summit, representatives from major corporations such as Google, Microsoft, and IBM outlined specific measures they will take to ensure that AI systems are developed and deployed responsibly.

Tom Finnigan from Talkingbrands.ai joins to discuss. #featured #trending

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