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TechCrunch+ roundup: Deep due diligence, early Q1 2023 VC results, flight lessons for angels

TechCrunch

Full TechCrunch+ articles are only available to members Use discount code TCPLUSROUNDUP to save 20% off a one- or two-year subscription Business schools teach the basics, but Mysty Rusk, who’s reviewed around 4,500 deals over the last 20 years, says the most important lessons she learned were the result of mistakes she made along the way.

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Case in point: taking stock of the CrowdStrike outages

CIO

Last summer, a faulty CrowdStrike software update took down millions of computers, caused billions in damages, and underscored that companies are still not able to manage third-party risks, or respond quickly and efficiently to disruptions. Its worth doing that extra step of diligence because it can save you problems down the road, she says.

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IT leaders on DOGE’s bold COBOL ambitions: Pure folly

CIO

Many IT leaders scoffed when they heard that Elon Musks US Department of Government Efficiency wants to rip out millions of lines COBOL code at the Social Security Administration and replace it within a matter of months. Its unclear why Musk and the DOGE team want to replace COBOL at the SSA. Social Security is not something to fail fast on.

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Rethinking digital transformation for the agentic AI era

CIO

B2C industries such as retail, media, healthcare, and personal banking where personalization is a service differentiator will undergo this paradigm shift first. On the dev side, copilots writing code have received the most attention, with DevOps teams accepting between 20% and 35% of the code recommendations.

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How Apoidea Group enhances visual information extraction from banking documents with multimodal models using LLaMA-Factory on Amazon SageMaker HyperPod

AWS Machine Learning - AI

The banking industry has long struggled with the inefficiencies associated with repetitive processes such as information extraction, document review, and auditing. As a result, banks face operational challenges, including limited scalability, slow processing speeds, and high costs associated with staff training and turnover.

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Yapily to acquire finAPI in open banking consolidation move

TechCrunch

Both companies offer open banking solutions in Europe. Yapily offers a single, unified open banking API to interact with bank accounts. Yapily offers a single, unified open banking API to interact with bank accounts. Developers have to code their own bank connection flow. Based in the U.K.,

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Unlocking the full potential of enterprise AI

CIO

Research from Gartner, for example, shows that approximately 30% of generative AI (GenAI) will not make it past the proof-of-concept phase by the end of 2025, due to factors including poor data quality, inadequate risk controls, and escalating costs. [1] 4] On their own AI and GenAI can deliver value.