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🎆 [𝐐𝐮𝐚𝐧𝐭𝐮𝐦 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲] MUFG, First Japanese Megabank To Invest In Quantum. MUFG Bank, one of the three megabanks in Japan, has acquired an 18% stake in Groovenauts, a local quantum computing startup, investing billions of yen. The investment marks MUFG as the first among the big banks to invest in quantum technology, aiming to utilize it in financial services.
▶ [𝐐𝐮𝐚𝐧𝐭𝐮𝐦 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲] Truist Financial Corp joins the IBM Quantum Accelerator program
🤖 [𝐀𝐈] FTC Probes OpenAI's ChatGPT Over Reputational Harm while China Updates AI Rules. The FTC is examining whether ChatGPT harmed people by publishing false information about them. Meanwhile, China released rules for generative AI. The rules apply to those who provide generative AI to the public in China.
▶ [𝐀𝐈] Anthropic’s Claude 2 has launched in open beta.
⛓ [𝐁𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧] LedgerSwarm's DLT Solution Aims to Compete with JP Morgan. The technology used in the Fed Reserve DLT trial (see last week’s issue) is spun out as LedgerSwarm. It aims to help banks compete with JP Morgan. Global banks are eyeing the LedgerSwarm solution to enable real-time intraday payments between their worldwide subsidiaries, offering multinational corporates a speedier cross-border payment method.
▶ [𝐂𝐁𝐃𝐂] India to link digital rupee to UPI payments for merchant adoption.
💻 [𝐌𝐞𝐭𝐚𝐯𝐞𝐫𝐬𝐞] At last, European Commission released its Metaverse Strategy. The European Commission (EC) decided to bypass web3 and unveiled a "web4 and virtual worlds strategy”. The strategy seeks to develop a digital environment reflecting EU values and principles. The EC's definition of web4 encompasses artificial intelligence, Internet of Things, blockchain, virtual and augmented reality, and aims to foster enhanced interactions between humans and machines.
▶ [𝐎𝐭𝐡𝐞𝐫 𝐓𝐞𝐜𝐡] Tech Start-Ups Explore Sales to Larger Firms Amid Funding Crunch. Funding-strapped tech start-ups are increasingly considering sales to larger firms to survive an ongoing investment crunch, triggered by a downturn in the tech sector. The approval of large tech deals held up over antitrust concerns could spur more activity. The withdrawal of venture capital and rising interest rates have heightened start-ups' difficulties, with some already declaring bankruptcy.