Aramco's VC Arm Backs Record AI Funding Round for Saudi Startup
Wa'ed Ventures participated in the round alongside lead investor Impact46. Takamol Ventures, SparkLabs and returning backers Rua Growth Fund and ARG also joined, according to a statement from Lucidya. Individual investment amounts were not disclosed.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
21 minutes ago
- Yahoo
The cost of standing still: Why banks must transform now
The banking sector has always understood the value of cost control—but today, the game has changed. Traditional cost-cutting alone won't cut it in an environment shaped by digital disruption, rising customer expectations, and economic uncertainty. To stay competitive, banks are doubling down on technology and workforce transformation as strategic levers for long-term efficiency. KPMG releases Banking transformation: The new agenda Banking leaders are not merely automating—they are re-evaluating the entire approach to work with AI at the heart of their strategies. According to Banking transformation: The new agenda, banking leaders see significant potential in new technologies to drive their transformation goals. More than half (52%) are already employing AI and automation in fraud detection and document processing, while 50% are utilising automation in customer interactions, including chatbots. The adoption of AI technologies is aiding organisations in streamlining their operations to achieve cost transformation targets. The key takeaway? Don't wait for AI to prove its value—invest with purpose, scale with speed, and focus on achieving tangible outcomes. The need to reimagine workforce strategies to enhance productivity Investing in new technologies is only part of the solution. The true value lies in the people, which is why leaders are reimagining their workforce strategies to enhance productivity. For example, banking executives are implementing cross-functional working groups dedicated to transformation, investing in digital apprenticeship programs, and introducing digital assistants to relieve employees from manual administrative tasks, allowing them to focus on more high-value activities. Additionally, 82% of banking leaders plan to form collaborative partnerships with startups to infuse fresh ideas into their organisations. This evolution in workforce strategy is essential for driving profitability, because without it, leaders will find themselves scratching the surface and unable to fully realise their transformation and cost reduction ambitions. The journey to cost transformation is no small feat, with challenges rearing at every turn. One major hurdle banking leaders are facing is alignment. Our findings revealed that less than half of banks globally feel prepared to deliver on their cost and transformation objectives. But why is that? The lack of preparedness stems from a lack of enterprise-wide clarity about cost reduction and transformation strategies. Addressing this issue is critical, as failing to do so will put banks at risk of being siloed and unprepared for sustainable growth. Fortunately, there are a few ways to achieve greater alignment, one of which is creating a centralised approach to transformation. This involves establishing a global, centralised team that coordinates and drives strategy and execution across the organisation. Among the respondents who use a centralised approach, half indicated they consider it to be an effective method for achieving transformative outcomes. Cost transformation: Incremental change is not enough What's clear is that cost transformation today requires more than incremental change; it demands a bold, holistic approach. In a landscape defined by disruption and opportunity, success will belong to those bold enough to invest in innovation, empower their people, and align cost strategies with long-term value creation. By doing so, banking leaders can turn today's challenges into tomorrow's competitive edge. Owen Lewis is Global Lead for Banking Cost Transformation, KPMG International & Partner, KPMG in Ireland "The cost of standing still: Why banks must transform now" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Forbes
24 minutes ago
- Forbes
The Next Era Of Performance Will Be Defined By Embedded AI
John Goodson, Chief Technology Officer, CCC Intelligent Solutions. The real breakthrough in AI isn't just technology—it's where it lives. AI that sits on the sidelines changes little, but when AI is embedded at the point of work, that's where transformation happens. This is because the most meaningful advances in AI aren't about replacing people; they're about empowering them to do more of what they do best. As organizations move beyond experimentation, a clear pattern is emerging—AI delivers the most value when it's built into the workflows people already rely on. This is where AI is having a measurable impact—amplifying productivity, improving decision-making and freeing people up to focus on higher-value tasks. A 2024 Gartner survey found more companies are looking to integrate AI into existing applications, but only 34% are currently using or actively implementing AI into security workflows. That suggests integration is still elusive for many, making it even more valuable when done well. Embedded AI can meet people where they are. It can help reduce friction, becoming an invisible infrastructure that connects people, decisions and actions. Tools That Work With You, Not Around You From calculators to computers to cloud software, history has shown that humans become exponentially more productive when the right tools are available to support how we work. AI is no different. When it's integrated (not isolated or trapped in a stand-alone application), it can elevate human capability. This is especially true in complex, high-stakes industries where professionals face information-rich, time-sensitive decisions. In these sectors, embedded AI can be a powerful collaborator, flagging critical issues, streamlining workflows and enabling faster, more confident action. The Data Is Clear: Integration Drives Impact The Federal Reserve Bank of St. Louis studied how generative AI impacts productivity. Among people who used AI daily, 33.5% said it saved them four or more hours per week, compared to just 11.5% of occasional users. What this study didn't capture—but what's becoming increasingly clear—is that the most significant time savings and performance boosts come when AI is built into the tools people already use. Likewise, McKinsey's 2025 Superagency in the Workplace report found that companies realizing the most value from AI are those that embed it into core business functions, especially by redesigning workflows to integrate AI more directly. Where Embedded AI Is Creating Real-World Value Here are a few ways embedded AI is reshaping performance in day-to-day work: Automation Of Repetitive Tasks: From document processing to claims sorting, embedded AI is eliminating manual tasks. Faster, Context-Aware Decisions: AI systems integrated into platforms like account management tools, CRMs, sales platforms and more can analyze trends in real time and surface insights exactly when and where they're needed. Enhanced Creativity And Problem-Solving: Tools embedded within writing platforms, design software or workflow managers help teams think faster and iterate more boldly without disrupting their rhythm. Personalization At Scale: In certain industries like insurance or collision repair, AI integrated into service platforms helps manage background complexity so professionals can focus on more human, empathetic interactions. Synthesis That Supports Smarter Decisions: Embedded AI can analyze and distill large volumes of information, surfacing key insights, highlighting priority areas and enabling earlier, more informed action from within the tools users already rely on. Purposeful Autonomy: AI is evolving from reactive to proactive, now capable of carrying out workflows independently based on objectives and rules set by people. The Real Value Is In The Flow Despite real concerns about bias, overreliance or data privacy, these challenges are solvable when AI is thoughtfully integrated and governed. The biggest challenge now is not 'if' companies will adopt AI, but how well they will embed it into the way people actually work. The most successful use cases for this to date are companies that are naturally integrating AI into their existing workflows. In simple terms, this means identifying those points where decisions are being made (either by humans or systems) and then determining how AI can best augment, not replace, that judgment. We're already seeing this play out in industries like auto claims and repair, where embedded AI can now triage damage photos in seconds, flag potential total losses and queue files for human review, saving adjusters hours each week. Repairers, too, benefit from AI that helps pre-populate estimate lines, check parts availability and flag necessary procedures, streamlining workflows and accelerating turnaround times. A key driver of this impact—AI that sits on the side is often ignored, but AI that lives in workflows can become indispensable. Leverage your internal expertise to be successful with this integration from the start. The people and teams closest to the work will have a unique understanding of the context AI needs to succeed. Bring these voices in early to best scale AI effectively. AI performance and AI responsibility go hand in hand. Before any AI implementation, organizations need to also define clear governance models (i.e., an understanding of how the models are trained, how the data is collected and protected, and if/when a human needs to be in the loop). Governance is much more than compliance; it's about trust. Lastly, AI isn't just something you launch and then check off a list. AI needs feedback to survive, grow and adapt. The best implementation is to always look for and learn from the results. This sets you up for future success as you improve accuracy, reduce potential areas of friction and also maintain that trust and transparency for future deployments. AI As A Strategic Partner The future of AI in business isn't about replacing human judgment—it's about scaling it. I believe the most successful AI implementations won't be flashy, stand-alone tools. They'll be deeply embedded, quietly powerful and relentlessly practical. When embedded into the systems that power day-to-day work, AI shifts from being a stand-alone capability to becoming a strategic partner that redefines what's possible for productivity and performance. In this way, the next era of performance will be defined by those who make AI integrated, intuitive and indispensable. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
CNN
24 minutes ago
- CNN
Driving Angola's digital economy
From rideshare to digitizing food delivery, Angola's budding start-up ecosystem is driving a digital revolution across the country and providing new services for a growing middle class.
