Thursday☕️

Jul 20, 2023 • 3 min read

Trending:

Markets:

Apple's AI Moves:

Apple is entering the generative AI race by developing its own rival to OpenAI's ChatGPT. This move mirrors similar endeavors by other tech giants like Google, Meta, Amazon, and Microsoft in the growing AI industry.
Reports suggest Apple is actively working on its own large-scale language model, the foundation of chatbot technology, for an internal chatbot project. Despite this, it remains unclear how the company plans to roll out this project to its users.
The increasing demand for generative AI technology, spurred on by the popular products like ChatGPT, has incited a technological competition among leading companies.

Societe Generale Crypto License:

Societe Generale (France's 3rd largest bank), also known as SocGen, has become the first company to be granted a crypto license in France. This was achieved by its crypto division, SG Forge, which was licensed on July 18 to provide a variety of services, including digital asset custody, buying, selling, and transmitting third-party crypto orders.
This isn't the first time Societe Generale has made significant moves in the crypto industry. In April 2023, the company introduced a stablecoin tied to the euro, making it the first institutional stablecoin deployed on a public network.
Now, with this new license, Societe Generale is the sole licensed Digital Asset Service Provider (DSAP) in France. Other prominent companies are registered with France's financial market regulator, the Autorité des Marchés Financiers (AMF), but do not yet have a license. Notably, Binance received approval to operate as a virtual assets service provider in 2022.
However, despite these developments, the interest in digital asset-related products in France remains relatively low, with only modest inflows noted in recent weeks and months. This is in contrast to the U.S., where crypto-related inflows have shown a significant increase.

Statistic: