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OpenAI is seeking the support of its most significant benefactor

Technical advancements are becoming increasingly vital in determining the course of B2B payments. Supporting businesses with advanced delivery models incorporating a variety of payment methods, including card-not-present transactions, electronic invoices, and omnichannel experiences, in addition to addressing the perennial B2B frictions inherent in cross-border payments, are critical areas of innovation within AP and AR processes.

However, he noted that in B2B, security and certainty of payments are becoming more important than payment speed. As a result, real-time payments and ACH are becoming more appealing than paper checks. And despite the continued prevalence of net terms in payments for small to medium-sized businesses (SMBs) and mid-market business-to-business (B2B), innovation is producing alternatives such as dynamic payment terms and pricing models.

In an interview, Sam Altman, the chief executive officer of the artificial intelligence (AI) firm, revealed his intentions to obtain further financial support from Microsoft. Microsoft has already committed $10 billion to finance AGI, software designed to emulate human intelligence. Altman stated that his companys collaboration with Microsoft and its CEO Satya Nadella was extremely fruitful and that he anticipated raising a substantial amount more over time from Microsoft and other investors to cover the expenses associated with developing more complex AI models. When asked whether Microsoft would persist, Altman responded, I certainly hope so. There is still much computing to develop between now and AGI, he continued. Training costs are simply enormous. Following last weeks Developers Day, where OpenAI unveiled a marketplace showcasing its finest applications and a suite of new tools and enhancements to its GPT-4, as well as a revenue-sharing model with the most popular GPT creators, he made these remarks.

In the interim, PYMNTS has recently examined the obstacles the government faces in its efforts to regulate AI. Comprehension of the technologys operation and acquisition of the requisite expertise to supervise it are among the most urgent matters.

In contrast to historical AI implementations such as machine learning and predictive forecasting, which have become ubiquitous in various aspects of daily life, generative AI capabilities introduce a novel approach to automating and producing outputs in domains such as investment research, risk management, trading, and fraud detection.

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Additionally, recognizing the intricacy of ostensibly straightforward matters can yield advantageous outcomes in the long run. Furthermore, it is worth noting that the priorities of organizations operating in the B2B payments sector are influenced by macroeconomic factors, especially considering the current prolonged economic expansion. A growing number of developments in the payments industry are conforming to these priorities above.

In addition, organizations are progressively seeking vendor consolidation as a means to mitigate overall risk by restricting the number of technology vendors that interact with their ecosystem, according to Weiner. Furthermore, he noted that CTOs and CFOs are collaborating more frequently on B2B transformations. The advent of digital payments has resulted in enhanced transparency and instantaneous understanding of financial activities. Weiner, on the other hand, believes that while real-time payments offer efficiency and security benefits, they may not be a game-changer in B2B payments, where the majority of transactions are conducted on net terms.

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