Every story in this issue with a short summary, so you can decide what to read before leaving the site. Summaries are written by AI (Claude) only from each publisher's own description and checked by Jev for anything not in that description. They are not full translations. Follow "Read the original" for the full story.
A Tennessee grandmother who was falsely accused of bank theft crimes in North Dakota and detained for six months is suing for $10 million.
Read the original →Marrow, a London-based InsurTech startup, has raised $2m in pre-seed financing to establish a common framework for AI assistants to access and transact insurance products. The framework is meant to give insurers greater oversight of how automated sales are conducted. Insurtech Gateway led the round, joined by Seed X, Leo Capital, Portfolio Ventures and angel investors.
Read the original →The piece discusses how insurers can move beyond AI experimentation to transform business models, measure value and drive growth.
Read the original →Chubb CEO Evan G. Greenberg said the insurance industry must develop approaches to liability exposures associated with artificial intelligence. He pointed to potential coverage clarifications, exclusions and separate AI liability policies.
Read the original →IBM CEO Arvind Krishna promoted open-weight AI models as cost-efficient options for enterprises compared with frontier systems. He highlighted growing customer interest in sovereign AI and on-premises deployments that keep sensitive data within national borders. IBM and Procore are also linking Procore data with IBM Maximo to improve asset lifecycle management across construction and long-term operations.
Read the original →Hina Shamsi, CIO of wealth management technology, said the financial services firm flipped the script on how it approached data to enable AI.
Read the original →Jasper Zhang runs Hyperbolic, a GPU exchange. The company is building software for "physical" AI futures.
Read the original →The investment fund L Catterton, affiliated with the LVMH group, has announced a strategic equity investment in Glance. Glance is a personalised shopping platform powered by artificial intelligence.
Read the original →New technologies are usually discussed in terms of what they can do, while far less attention goes to what must sit underneath them to work safely and at scale. According to Tieto, that blind spot is now emerging in payments.
Read the original →The Bank of England and the Financial Conduct Authority conducted a fourth survey of artificial intelligence and machine learning in UK financial services.
Read the original →Tokio Marine & Nichido Fire Insurance announced on the 26th that it will sell "AI robot insurance" to cover malfunctions and similar risks of robots that operate autonomously with AI. The company expects AI robots to become more widespread.
Read the original →Major US banks are preparing response plans for large-scale cyberattacks linked to artificial intelligence. The plans aim to keep financial services running even if existing defenses are breached.
Read the original →Marie-Jeanne Deverdun, Deutsche Bank's new technology head, told Reuters that AI has cut decision times for some small-business loans from weeks to minutes. She said the project, which went into full operation this summer, also cut decision times for loans to multinational companies from months to weeks. Deverdun joined the bank's management board this year.
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