The following article is a broad timeline of the course of events related to artificial intelligence risks in global finance. The AI boom has led to concerns including the existential risk from artificial intelligence, as the uptake on applications of artificial intelligence increases. By late 2025, global finance and artificial intelligence were "deeply intertwined". A June 2025 Menlo Ventures report raised concerns about the sustainability of future revenue and long-term profitability of AI, given the relatively low rate of consumer monetization. == 2017 == 30 NovemberThe New York Times said that new AI reports by McKinsey & Company, the National Bureau of Economic Research, and an AI Index created by university researchers, indicated an early AI boom. The Index built on a project—"The One Hundred Year Study on Artificial Intelligence" launched in 2014. == 2018 == 2018 was a year of incremental AI growth in finance. == 2022 == The release of ChatGPT by OpenAI became the catalyst for an artificial intelligence boom that continues to remake the global economy. According to a European Central Bank report, public interest in AI increased rapidly as evidenced with rising Google searches, AI jobs, models, patents, and innovations since late 2022. At that time Europe led the US in the size of its AI workforce. == 2023 == The regulatory body, the International Monetary Fund (IMF), published their report, "Generative Artificial Intelligence in Finance: Risk Considerations", drawing attention to oversight gaps and the need for regulations. The report explores the risks posed by using generative artificial intelligence (GenAI) systems in the financial sector including "broader risks to financial stability." == 2024 == January 12 In January 2024 Bloomberg's published its list of the "Magnificent Seven" Big Tech companies on the stock market based on their strength, size and market capitalization:Apple, Microsoft, Alphabet (Google), Amazon, Meta Platforms (Facebook), Nvidia, and Tesla. 21 June During the AI boom, Nvidia became the world's most valuable company, surpassing Microsoft, as its value increased to over US$4 trillion. In 2023 and 2024, the "Magnificent Seven" stocks were the primary drivers behind the increase in equity indexes, according to Reuters. == 2025 == === January === 23 January President Donald Trump's AI policy was announced calling for United States global leadership in artificial intelligence. The Economist noted that this politic shift in which the United States seeks "global dominance" in AI includes trimming regulations and assisting in expansion of infrastructure and increase in number of AI workers. Governments of Gulf nations were also investing trillions of dollars in AI. 27 January Against the backdrop of a tech war between China and the United States over AI dominance, within days of the launch of China's free DeepSeek App, it was the most downloaded app in the United States, rising to the first place in the Apple app store. President Trump responded immediately, saying this "sudden rise" should be a "wake-up" call to the United States, and called on US companies to be more competitive. === June === 26 June In their June 2025 report, Menlo Ventures estimated that only about 3% of consumers paid for artificial intelligence-related services, representing about $USD12 billion in annual spending. This is relatively low in contrast to the massive capital expenditure by AI infrastructure companies, which raises concerns about revenue sustainability and long-term profitability. === July === 23 July The Trump administration launched the US AI Action Plan, positioning the United States in a high-stakes technological race with China for global dominance in artificial intelligence, emphasizing that neither nation can afford to fall behind due to the exponential nature of AI advancement. The plan, a new government website and policy speech called for accelerated AI adoption across federal agencies, and a number of initiatives to make is easier for AI infrastructure expansion, and other measures to ensure American leadership in AI standards. Some leading experts warned that the administration failed to provide sufficient regulations and safeguards for AI safety. Concerns were raised about the negative impacts of cuts to research funding and tightened visa policies for scientists, potentially undermining public trust and America's ability to compete internationally. === September === 7 September The Economist cautioned that AI revenues are relatively modest compared to the high cost and investments in the creation of new data centers. Even Sam Altman, OpenAI CEO and one of the leading figures of the AI boom,, raised concerns about investors' outsized hopes for financial returns. At the same time, history has shown that new technologies, like railways and electricity, endured and spread after the initial hype faded. 12 September Economists warn that U.S. households' direct and indirect investments—mutual funds or retirement plans—in the stock market reached an unprecedented historically high level, now representing 45% of all financial assets, or about $USD51.2 trillion. Compared to the Dot-com bubble this represents a sharp increase in exposure. This makes U.S. households vulnerable to market downturns which in turn would result in decreasing consumer spending. U.S. household net worth rose to a record $176.3 trillion in the second quarter, an increase of $7.3 trillion since early 2025 and about $46 trillion higher than before the pandemic. Federal Reserve data attribute the surge primarily to gains in stock markets and housing values. However, the rise in wealth on paper coincided with increased household borrowing and growing government debt. 18 September Questions were being raised about how quickly the data centers, chips, servers, and GPUs assets of major AI companies will depreciate in value. Comparisons have been made to the Railway Mania in the aftermath of the stock market bubble where a valuable physical infrastructure remained standing, and the telecoms crash after the dot-com bubble which left fiber networks. 28 September There were warnings that record-high American stock ownership during the AI-fueled market boom is a red flag for systemic risk, as the current concentration in equities exceeds levels seen before the dot-com bubble burst in 2000, and could amplify the impact of any future stock market correction. === October === 3 October In 2025 alone, venture capitalists invested almost $USD200 billion in the artificial intelligence sector. 29 October Nvidia was the first company in the world to be valued at US$5 trillion, largely due to AI demand and strategic partnerships with leading technology and AI firms. Nvidia's increase in value was "meteoric". === November === 2 November Forbes reported that, since April, the 'Magnificent Seven' tech giants together contributed over 40% of the S&P 500's return, highlighting their outsized influence and the growing impact of AI on market valuations. CNN warned that while there is a current benefit to investors, with such a high concentration in the S&P 500, they are highly exposed to the fate of the Mag Seven. 2 November Globally there are 11,000 datacentres—huge campuses for AI infrastructure, including thousands of chips, GPUS, and servers. This represents a 500% increase over the last two decades. It is anticipated that $3USDtn more will be spent on increasing that number over the next two or three years. 5 November Concerns about the potential for a market bubble were raised as six of the AI-related Big Tech "Magnificent Seven"—that contribute to the AI boom—reported losing ground in the stock market. Global markets and artificial intelligence have become "deeply intertwined", according to a Reuters report. As of November 2025, more than 50% of the 20 largest S&P firms were deeply exposed to AI. In contrast, in 2000, the 20 S&P 500 firms represented 39% of its total value only 11 of these companies were exposed to the internet. If AI fails to deliver strong returns on their investments, these top S&P firms would be significantly impacted, according to the Economist. Analysts suggest that the AI market in 2025 may not behave like a traditional one, as investors are simultaneously aware of the risks and driven by the potential for outsized rewards. Leading AI labs may believe that the first company to achieve artificial general intelligence (AGI), when an AI system surpasses all human cognitive abilities and becomes capable of self-improvement—could dominate the future of technology and finance. While some have estimated that the potential value of such a breakthrough could be as high as $1.46 quadrillion, this figure is speculative and widely debated. 5 November Bloomberg described Nvidia's H100 Hopper-Blackwell AI chips as the "King of AI chips". Nvidia dominates the AI chip market with over 78% of the market share because of both speed and cost. According to B
Software diversity
Software diversity is a research field about the comprehension and engineering of diversity in the context of software. == Areas == The different areas of software diversity are discussed in surveys on diversity for fault-tolerance or for security. The main areas are: design diversity, n-version programming, data diversity for fault tolerance randomization software variability == Techniques == === Code transformations === It is possible to amplify software diversity through automated transformation processes that create synthetic diversity. A "multicompiler" is compiler embedding a diversification engine. A multi-variant execution environment (MVEE) is responsible for selecting the variant to execute and compare the output. Fred Cohen was among the very early promoters of such an approach. He proposed a series of rewriting and code reordering transformations that aim at producing massive quantities of different versions of operating systems functions. These ideas have been developed over the years and have led to the construction of integrated obfuscation schemes to protect key functions in large software systems. Another approach to increase software diversity of protection consists in adding randomness in certain core processes, such as memory loading. Randomness implies that all versions of the same program run differently from each other, which in turn creates a diversity of program behaviors. This idea was initially proposed and experimented by Stephanie Forrest and her colleagues. Recent work on automatic software diversity explores different forms of program transformations that slightly vary the behavior of programs. The goal is to evolve one program into a population of diverse programs that all provide similar services to users, but with a different code. This diversity of code enhances the protection of users against one single attack that could crash all programs at the same time. Transformation operators include: code layout randomization: reorder functions in code globals layout randomization: reorder and pad globals stack variable randomization: reorder variables in each stack frame heap layout randomization === Natural software diversity === It is known that some functionalities are available in multiple interchangeable implementations. This natural diversity can be exploited, for example it has been shown valuable to increase security in cloud systems.
Jean Véronis
Jean Véronis (3 June 1955 – 8 September 2013) was a French linguist, computer scientist and blogger, and a research professor at Aix-Marseille University. His research interests included natural language processing, text mining and standardisation. He was a founder of the field that is now called digital humanities. In 2006, his blog was listed among the 15 most influential by Le Monde.
Andrew McCallum
Andrew McCallum is an American professor in the computer science department at University of Massachusetts Amherst. His primary specialties are in machine learning, natural language processing, information extraction, information integration, and social network analysis. == Career == McCallum graduated summa cum laude from Dartmouth College in 1989. He completed his Ph.D. at the University of Rochester in 1995 under the supervision of Dana H. Ballard. McCallum was then a postdoctoral fellow, working with Sebastian Thrun and Tom M. Mitchell at Carnegie Mellon University. From 1998 to 2000, he was a Research Scientist and Research Coordinator at Justsystem Pittsburgh Research Center. From 2000 to 2002, he was Vice President of Research and Development at WhizBang Labs, and Director of its Pittsburgh office. Since 2002, he has worked as a professor of computer science at the University of Massachusetts Amherst. In 2020, he also joined Google as a part-time research scientist. He was elected as a fellow of the Association for the Advancement of Artificial Intelligence in 2009, and as an Association for Computing Machinery in 2017. From 2014 to 2017, he was the President of International Machine Learning Society (IMLS), which organizes the International Conference on Machine Learning. He is also the director of the Center for Data Science at UMass, leading a new partnership with the Chan and Zuckerberg Initiative. In 2018, the initiative made an initial grant of 5.5 million to the center, supporting research to facilitate new ways for scientists to explore and discover research articles. == Main contributions == In collaboration with John D. Lafferty and Fernando Pereira, McCallum developed conditional random fields, first described in a paper presented at the International Conference on Machine Learning (ICML). In 2011 this research paper won the ICML "Test of Time" (10-year best paper) award. McCallum has written several widely used open-source software toolkits for machine learning, natural language processing and other text processing, including Rainbow, Mallet (software project), and FACTORIE. In addition, he was instrumental in publishing the Enron Corpus, a large collection of emails that has been used as a basis for a number of academic studies of social networking and language. McCallum instigated and directs the nonprofit project OpenReview.net, an online platform that aims to promote openness in scientific communication, particularly the peer review process, by providing a flexible cloud-based web interface and underlying database API.
AI Photo Editors Reviews: What Actually Works in 2026
Curious about the best AI photo editor? An AI photo editor is software that uses machine learning to help you get more done — it combines speed, accuracy, and an interface that just works. Hands-on testing shows real-world results vary, so a short free trial is the smartest way to decide. Whether you are a beginner or a pro, the right AI photo editor slots into your workflow and pays for itself fast. This guide breaks down the top picks, their pros and cons, and who each one is best for.
Kounta (software company)
Kounta is an Australian software company founded in 2012. The company's flagship product, Kounta, comprises a cloud based point of sale mobile app. == History == Kounta was founded in 2012 by entrepreneur Nick Cloete. The company is headquartered in Sydney, Australia. In 2012, the company launched its flagship product, Kounta, a hospitality-focused point of sale (POS) mobile app for iPad, Android, Mac, and Windows. The app was initially a web-based application, and later developed into an online cash register and inventory management system that allows businesses to take payments from customers via mobile devices. The app has been made available for iPad, iPhone, and Android devices; as well as iOS, Windows, and other peripherals. In 2012, Kounta partnered with Epson, providing a cloud-based POS platform for Epson printers. In 2013, the company formed a partnership with PayPal, integrating cashless and cardless transaction options via PayPal's mobile app. In 2014, MYOB (company) made an undisclosed investment towards Kounta. This partnership led to the development of MYOB Kounta, a co-branded application merging Kounta's POS with MYOB's application software. MYOB Kounta launched in October of the same year. In 2016, Kounta announced a partnership with the Commonwealth Bank of Australia to include the Kounta app onto "Albert", the bank's EFTPOS tablet, which allowed the Commonwealth Bank of Australia to become the first bank to manage all customers operations from a single device and mobile application. == Technology == The Kounta POS is a software-as-a-service (SaaS) that runs as an application in web browsers as well as natively on iOS and Android operating systems. Kounta also incorporates an Open API, making it possible for other software providers to integrate complementary apps, further extending the software's use. Traditional IT tasks, such as data backup and encryption, hardware maintenance, and server upgrades are handled by Kounta's data center. Kounta is made accessible via paid monthly subscription licenses. == Acquisition by Lightspeed == In October 2019, Kounta was acquired by Lightspeed, an advanced commerce platform for retail, hospitality, and golf businesses based in Montreal, Canada. Lightspeed acquired Kounta for $35.3 million USD.
Dan Hendrycks
Dan Hendrycks (born 1994 or 1995) is an American machine learning researcher. He serves as the director of the Center for AI Safety, a nonprofit research organization based in San Francisco, California. == Early life and education == Hendrycks was raised in a Christian evangelical household in Marshfield, Missouri. He received a B.S. from the University of Chicago in 2018 and a Ph.D. from the University of California, Berkeley in Computer Science in 2022. == Career and research == Hendrycks' research focuses on topics that include machine learning safety, machine ethics, and robustness. He credits his participation in the effective altruism (EA) movement-linked 80,000 Hours program for his career focus towards AI safety, though denies being an advocate for EA. Hendrycks is the main author of the research paper that introduced the activation function GELU in 2016, and of the paper that introduced the language model benchmark MMLU (Massive Multitask Language Understanding) in 2020. In February 2022, Hendrycks co-authored recommendations for the US National Institute of Standards and Technology (NIST) to inform the management of risks from artificial intelligence. In September 2022, Hendrycks wrote a paper providing a framework for analyzing the impact of AI research on societal risks. He later published a paper in March 2023 examining how natural selection and competitive pressures could shape the goals of artificial agents. This was followed by "An Overview of Catastrophic AI Risks", which discusses four categories of risks: malicious use, AI race dynamics, organizational risks, and rogue AI agents. Hendrycks is the safety adviser of xAI, an AI startup company founded by Elon Musk in 2023. To avoid any potential conflicts of interest, he receives a symbolic one-dollar salary and holds no company equity. In November 2024, he also joined Scale AI as an advisor collecting a one-dollar salary. Hendrycks is the creator of Humanity's Last Exam, a benchmark for evaluating the capabilities of large language models, which he developed in collaboration with Scale AI. In 2024, Hendrycks published the textbook Introduction to AI Safety, Ethics, and Society, based on courseware he had previously developed. == Selected publications == Hendrycks, Dan; Gimpel, Kevin (2020-07-08). "Gaussian Error Linear Units (GELUs)". arXiv:1606.08415 [cs.LG]. Hendrycks, Dan; Gimpel, Kevin (2018-10-03). "A Baseline for Detecting Misclassified and Out-of-Distribution Examples in Neural Networks". International Conference on Learning Representations 2017. arXiv:1610.02136. Hendrycks, Dan; Mazeika, Mantas; Dietterich, Thomas (2019-01-28). "Deep Anomaly Detection with Outlier Exposure". International Conference on Learning Representations 2019. arXiv:1812.04606. Hendrycks, Dan; Mazeika, Mantas; Zou, Andy (2021-10-25). "What Would Jiminy Cricket Do? Towards Agents That Behave Morally". Conference on Neural Information Processing Systems 2021. arXiv:2110.13136.