Captions, an AI-powered video editing app, has introduced a new tool that manages content publishing schedules for websites and generates videos on relevant topics. This tool analyses a site to collect content, keywords, service offerings, and key selling points, creating a customised content plan. Currently, the emphasis is on producing videos for social media platforms such as Instagram Reels and TikTok, with plans to explore additional formats in the future.
The tool is designed to support small businesses like cafes and dental clinics by showcasing their offerings and seasonal trends. In June, Captions launched a feature that enables users to automatically create and edit videos using 12 AI characters. This new tool utilises a business’s existing content and relevant trends to generate video prompts, allowing sellers to create a digital twin and incorporate their brand identity, including custom colours, logos, and fonts.
Captions CEO Gaurav Misra highlighted that the tool assists businesses lacking resources to create high-quality content, enabling them to build an online presence without requiring advanced video production skills. He envisions a future where businesses can incorporate more of their web pages into the AI content planning process. Recently, Captions secured $60 million in Series C funding, which will be used to enhance its AI capabilities. The company offers paid plans, including Max at $25 per month and Scale at $70 per month.
Several rival web browsers, including Vivaldi, Waterfox, and Wavebox, along with a web development advocacy group, have called on the European Commission to impose stricter antitrust regulations on Microsoft’s Edge browser. In a letter dated 17 September, the group argued that Edge, pre-installed on all Windows devices, is given an unfair distribution advantage, limiting competition. This follows a recent lawsuit by Opera, a Norwegian browser company, which challenged the Commission’s decision to exempt Edge from the Digital Markets Act (DMA).
DMA aims to stop dominant online platforms from restricting consumer choices by setting guidelines for ‘gatekeeper’ services. Rival browsers argue that Microsoft’s practice of making Edge the default browser on Windows undermines the spirit of the law. They contend that Edge’s pre-installed presence gives it an unfair advantage, making it harder for independent browsers to compete, especially as many users rely on Edge to download alternatives.
Neither Microsoft nor the European Commission has commented on the issue, but critics have pointed out that Edge’s pop-up messages often misrepresent the features of rival browsers. Despite these allegations, Microsoft Edge holds only a small portion of the global browser market, with just over 5%, while Google Chrome dominates with 66%.
A recent pilot program using AI software has significantly reduced the time social workers spend on administrative tasks by more than 60%, according to Swindon Borough Council. The AI tool, Magic Notes, developed by UK-based Beam, was tested by 19 social workers and received ‘overwhelmingly positive’ feedback. By automating the recording of conversations and generating assessments, the software allowed social workers to focus more on meaningful interactions with the people they support.
The trial, held from April to June, revealed a significant reduction in assessment times, decreasing from an average of 90 minutes to just 35 minutes. Additionally, the time needed to write reports was slashed from four hours to 90 minutes. Social workers facing challenges such as visual impairments or dyslexia reported that the tool fostered a more inclusive work environment, enhancing their confidence in their roles.
Councillor Ray Ballman, the cabinet member for adult social care, described Magic Notes as a ‘game changer.’ He mentioned that the council is now looking into additional ways to integrate the technology to enhance care quality and provide better staff support.
Croatian startup AEOS, formerly known as AdScanner, has secured €10 million in a Series B investment round led by Taiwania Capital, with additional backing from existing investors. This funding follows significant revenue growth and product innovations that aim to redefine how advertisers reach audiences across both traditional television and streaming platforms.
Founded in 2012, AEOS has become a key player in the European TV advertising market, using data-driven technology to enhance campaign planning and audience measurement. Operating in Croatia, Germany, Austria, Bulgaria, and Serbia, the company plans to use the new investment to accelerate growth and develop its product offerings, particularly in the AI space.
The funding will support the development of AI-driven tools that help advertisers optimise their campaigns across platforms. AEOS has already gained recognition for its Cockpit solution, offering near real-time analytics and bridging the gap between traditional broadcast media and digital streaming services.
In 2024, AEOS will launch its second-generation AI-based planning tool, designed to unify TV and streaming campaigns into one seamless ecosystem. The tool allows advertisers to plan, measure, and optimise their campaigns across multiple devices with greater accuracy than ever before.
Stablecoins are now a crucial part of Sub-Saharan Africa’s crypto economy, representing 43% of the region’s total transaction volume, according to a report from Chainalysis. In nations struggling with unstable currencies and limited access to US dollars, dollar-pegged tokens like Tether and USDC are helping businesses and individuals manage value and carry out international trade.
Due to foreign exchange shortages, with 70% of African countries affected, many are turning to stablecoins as an alternative to traditional financial systems. Ethiopia, which recently devalued its currency by 30%, has experienced a 180% rise in stablecoin transfers, signalling growing reliance on this digital solution.
Experts believe stablecoins will continue to shape the region’s financial future. Rob Downes, head of digital assets at ABSA Bank, expects these tokens to be the primary crypto use case in South Africa within the next few years, as the need for dollar equivalents rises.
Global financial messaging service SWIFT will trial live transactions of tokenised assets and digital currencies in 2024, aiming to accelerate their integration into the financial system. Tokenisation, which transforms traditional assets like bonds into digital units, promises faster, cheaper, and more efficient trading by cutting out intermediaries.
Despite high expectations, tokenisation and digital currencies have yet to achieve widespread adoption. Around 90% of central banks are experimenting with digital currencies, hoping to modernise trade and payments in the evolving cryptocurrency landscape. SWIFT has already tested Central Bank Digital Currencies (CBDCs) and plans to connect them with existing financial infrastructure.
SWIFT’s head of innovation, Nick Kerigan, stated that demand is growing for real-world digital asset transactions where payment in real money happens simultaneously. However, market fragmentation has limited progress, with most initiatives still confined to banks’ internal systems.
The latest SWIFT trials will involve trading various digital assets across multiple platforms. Kerigan emphasised the need for both delivery and payment in tokenised transactions, highlighting the role of wholesale CBDCs and tokenised deposits in making this possible.
Chinese companies have invested over $100 billion in overseas clean energy technology projects since 2023, aiming to bypass growing trade barriers, according to a report by Australian research group Climate Energy Finance (CEF). China, the world’s largest producer of solar panels, lithium batteries, and electric vehicles, has seen its exports face steep tariffs, particularly from the US and Canada. The European Union is also considering similar tariffs to protect domestic industries from an influx of cheaper Chinese-made products.
Chinese firms like electric vehicle giant BYD and battery maker CATL have responded by expanding production abroad, with BYD building a $1 billion plant in Turkey and CATL planning factories across Europe. These investments are largely driven by the need to avoid punitive tariffs, including a proposed 40% EU tariff on Chinese electric vehicles. Despite China’s dominance in clean energy, concerns have emerged that it could oversupply the global market, driving down prices and undercutting competitors.
The surge in Chinese investment comes as the country faces increasing pushback from Western nations, who argue that Chinese products are unfairly flooding their markets. Beijing, however, insists that such restrictions will slow global efforts to combat climate change, emphasising the importance of affordable clean energy solutions. With China expected to have surplus production capacity by 2030, these overseas investments will play a critical role in finding new markets.
Bank of Montreal (BMO) has appointed Kristin Milchanowski as its chief AI and data officer, effective October 15. Formerly with EY, Milchanowski will lead the bank’s AI initiatives, focusing on data, robotics, and analytics. This new role builds on BMO’s ongoing investments in AI, aiming to enhance data management and governance while fostering a culture of innovation.
The financial sector views AI as a major opportunity, with potential uses like streamlining compliance tasks and enhancing customer service. However, integrating AI brings challenges, especially for firms managing sensitive data. Analysts suggest that AI-driven solutions could simplify processes and improve data-driven decision-making across the industry, offering significant benefits to financial services.
As AI adoption expands, US regulators seek public feedback to ensure these technologies foster fair and equitable access to financial services. Earlier this year, Morgan Stanley emphasised AI’s transformative potential, noting it could save financial advisers up to 15 hours of work per week, highlighting the significant impact AI could have on the industry.
Polish e-commerce platform Allegro has officially launched its operations in Hungary, marking a significant step in its Central European expansion strategy. This new site is expected to attract approximately 10 million new customers. Over the past year and a half, Allegro has expanded into the Czech Republic and Slovakia, increasing its potential client base by 16 million and accumulating over 2.5 million active buyers in those markets.
Matthias Frechen, Allegro’s Chief Commercial Officer, stated that entering Hungary brings the company closer to its goal of becoming Europe’s preferred shopping destination. He described Hungary as one of the most promising markets in Europe for the company’s growth.
Allegro exceeded second-quarter market forecasts with better-than-expected adjusted EBITDA, showcasing its financial strength. However, the company also reported a slowdown in growth for the third quarter in Poland, its largest market. This mixed performance highlights both the challenges and opportunities Allegro faces as it continues to expand into new regions. Balancing growth across multiple markets will be crucial as the company navigates these dynamics.
Shiba Inu, the second-largest meme coin, has seen a period of stability after a surge that raised its value by 26.4% over the past week, pushing its market cap above $10.8 billion. This rise coincided with a boost in whale activity and continued outflows from centralised exchanges, suggesting growing investor confidence in the coin.
Despite the positive trends, Shibarium’s network has seen a decline in transaction fees, dropping to 0.0025 BONE. New account additions have slowed, but the total number of Shibarium accounts has reached a record 126,750, showing sustained interest in the ecosystem. A portion of BONE generated within Shibarium is converted into SHIB and burned, impacting Shiba Inu’s value.
Shiba Inu’s price has pulled back slightly after hitting a multi-month high, crossing below key resistance levels. However, with the coin holding above its 50-day and 200-day moving averages, there is potential for further upside if it can turn the resistance at $0.000020 into support.
