OpenAI to continue working with Scale AI after Meta deal
PARIS :OpenAI plans to continue working with Scale AI after rival Meta on Friday agreed to take a 49 per cent stake in the artificial intelligence startup for $14.8 billion, OpenAI's CFO Sarah Friar told the VivaTech conference in Paris.
Scale AI provides vast amounts of labelled or curated training data, which is crucial for developing sophisticated tools such as OpenAI's ChatGPT.
"We don't want to ice the ecosystem because acquisitions are going to happen," she said. "And if we ice each other out, I think we're actually going to slow the pace of innovation."
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Straits Times
15 hours ago
- Straits Times
Meta to work with Singapore banks in sharing intelligence to combat scams
Participants taking part in an interactive workshop session during Meta's Inside a Scammer's Mind event at Marina One on June 12. ST PHOTO: LIM YAOHUI Meta to work with Singapore banks in sharing intelligence to combat scams SINGAPORE – Social media company Meta is aiming to roll out a shared intelligence platform with local banks in Singapore to combat the scam scourge. This comes as the company looks to form a closer partnership with the Republic's law enforcement agencies to dismantle scam syndicates. First unveiled in the United Kingdom and Australia in 2024, Meta's Fraud Intelligence Reciprocal Exchange (Fire) is a platform that allows banks to share threat intelligence with the firm directly. Speaking to the media on June 12, Meta's Singapore and Asean head of public policy Clara Koh said the firm is ready to roll out the programme globally through an industry consortium – the Financial Services Information Sharing and Analysis Centre . She said that currently, Meta's customers who become victims of scams on its platforms have to report their experience to the firm. With Fire, Meta – the parent company of Facebook, Instagram and WhatsApp – will also be able to receive intelligence on scammers or victims from banks. Ms Koh said the platform allows Meta to analyse data and remove the scammers' ability to commit crimes. 'But at the same time, we use the signals and patterns or behaviours of the actors to help our machine learning and artificial intelligence (AI) actually better detect the bad actors. 'So yes, we are working with a few local banks to try and get them onboarded into the programme,' she added. She said more details will be shared at a later date. During a six-month pilot with UK banks NatWest and Metro Bank, Meta was able to remove some 20,000 accounts run by scammers from 185 website addresses shared by the banks. Ms Koh was one of the panellists at an anti-scam awareness event organised by Meta on June 12 at the firm's office at Marina One. The panel also included the Singapore Police Force's Superintendent Rosie Ann McIntyre, who is assistant director of the Scam Public Education Office's operations department, and the National Crime Prevention Council's Mr Nicholas Khoo. (From left) The National Crime Prevention Council's Mr Nicholas Khoo, police Superintendent Rosie Ann McIntyre and Meta's Singapore and Asean head of policy Clara Koh at the Inside a Scammer's Mind event on June 12. ST PHOTO: LIM YAOHUI During the discussion, Supt McIntyre said that people should not be fearful if an unknown person is attempting to call or reach them through e-mail. Instead, it is important to slow down and assess the situation. 'The important thing is not to respond immediately, not to transfer money, because once it's out, it's out. The important thing is not to click a link,' said Supt McIntyre. In 2024, victims in Singapore lost a record high of $1.1 billion to scams. In total, victims here have lost more than $3.4 billion to scams since 2019. The most common ruse in 2024 was e-commerce scams, which includes concert ticket scams, with 11,665 reported cases and victims losing at least $17.5 million in total. Job scams and phishing scams rounded out the top three scam variants of concern in 2024. Some $156.2 million was lost to job scams, while victims of phishing scams lost $59.4 million across 2024. Ms Koh said that some scams – such as ticketing scams linked to big events like mega concerts or summits – can be anticipated, which means the authorities can prepare against a spike in fraud attempts ahead of time. During a six-month pilot with UK banks NatWest and Metro Bank, Meta was able to remove some 20,000 accounts run by scammers from 185 website addresses shared by the banks. ST PHOTO: LIM YAOHUI But others are difficult to predict. Most scams, like love scams or impersonation scams, are evergreen, which make it challenging to get ahead of, Ms Koh said. 'You don't know how (scams) are going to evolve over time, but they evolve extremely quickly within days. Once you try and arrest a particular variant, it pivots and evolves i nto something else,' she added. She said Meta is also committed to fighting the scam scourge beyond just its online platforms – highlighting the human trafficking cost that comes with scam compounds run by organised crime. 'As a platform, we want to do our best to tackle the issue as it manifests... but I think equally, we also want to take real-world action on the actual criminal syndicates that are operating these (compounds),' she said. 'So we can do our part but, at the same time, we really need different segments of the ecosystem and society to work with us on the same side to really fight this scourge.' Join ST's WhatsApp Channel and get the latest news and must-reads.
Straits Times
18 hours ago
- Straits Times
Football club investor Eagle files for US IPO, Bloomberg News reports
FILE PHOTO: Soccer Football - Brasileiro Championship - Botafogo v Vasco da Gama - Estadio Nilton Santos, Rio de Janeiro, Brazil - November 5, 2024 Botafogo owner John Textor before the match REUTERS/Ricardo Moraes/File Photo FILE PHOTO: The logo for the New York Stock Exchange (NYSE) is displayed at the NYSE in New York City, U.S., July 6, 2023. REUTERS/Brendan McDermid/File Photo Football club investor Eagle files for US IPO, Bloomberg News reports Eagle Football Holdings, one of the most active investors in global football clubs, has confidentially filed for a U.S. initial public offering, Bloomberg News reported on Friday. Reuters could not immediately confirm the report. The France-based company submitted a draft registration statement to the U.S. Securities and Exchange Commission, the report added, citing a company statement. The firm has been working with UBS Group AG on the potential IPO, the report said. Eagle Football, run by U.S. businessman John Textor, holds stakes in multiple football clubs including Olympique Lyonnais, Crystal Palace and Brazil's Botafogo. The SEC and Eagle Football did not immediately respond to request for comment outside regular business hours. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
CNA
18 hours ago
- CNA
Football club investor Eagle files for US IPO, Bloomberg News reports
Eagle Football Holdings, one of the most active investors in global football clubs, has confidentially filed for a U.S. initial public offering, Bloomberg News reported on Friday. Reuters could not immediately confirm the report. The France-based company submitted a draft registration statement to the U.S. Securities and Exchange Commission, the report added, citing a company statement. The firm has been working with UBS Group AG on the potential IPO, the report said. Eagle Football, run by U.S. businessman John Textor, holds stakes in multiple football clubs including Olympique Lyonnais, Crystal Palace and Brazil's Botafogo.
