Top Tech News: Open AI Tool ChatGPT Keeps Hallucinating

Vienna-based company NOYB plans to sue ChatGPT for hallucinating

Good morning, tech fam; here are some quick tech updates for you to catch on to!

What's New Today: IDFC Bank is hiring an experienced 'Transaction Monitoring Analyst'

Fast-Track Insights:  Major crypto tokens like Bitcoin, BNB, and Ethereum showed their performance with a positive bias.

NOYB states that there is no guarantee that Open AI ChatGPT provides correct information. The company has assent with its team claiming the biggest statement that "there was no way to guarantee the program provided accurate information". A Vienna Austria-based company on its privacy campaign group said Monday that they would file a case against ChatGPT, on its "hallucinating" flagship AI tool providing wrong answers and information. Maartje de Graaf, a data-protection lawyer at NOYB says "If a system cannot produce accurate and transparent results, it cannot be used to generate data about individuals" NOYB also added that ChatGPT refuses to add or erase the data even though it is incorrect.

IDFC Bank is hiring an experienced 'Transaction Monitoring Analyst'. The job role is based in the Mumbai location. The roles and responsibilities for this role include supporting all the business operations. This includes policies, investments, and procedures. The candidate has to monitor control systems to deal with violations of legal rules and internal policies. They need to regularly assess the efficiency of control systems and recommend effective improvements. They also need to assist themselves in performing the company's periodic audits maintaining them, and organizing compliance records. They are also required to implement compliance checklists, manuals, and other regulatory documentation. The candidate should hold graduation in any stream with 2 years of relevant experience in this field.

The need for open-source AI will continue to grow by 2024. Open-source AI allows for collaboration, transparency, and innovation in the field by enabling developers to access and build on each other's work. This accelerates the development of AI technologies, increases accessibility, and democratizes AI capabilities. Read more

On Wednesday 24 April 2024, major crypto tokens showed their performance with a positive bias. Bitcoin, BNB, Ethereum, Dogecoin, Toncoin, and Shiba Inu recorded profits. It was observed up to 4% increase in trade. While, XRP, Polkadot, Cardano, and Chainlink, saw losses, with trading down by up to 2%."The market is holding a steady balance between bulls and bears. Bitcoin's 200-day average price, one of the most tracked indicators, is reaching its highest levels in more than 2 years. This might signal the start of the most bullish phase of the current cycle," says analysts at CoinSwitch Markets Desk. In the last 24 hours, the market cap has surged by 0.9%. It was also observed the market cap of Bitcoin, the world's largest cryptocurrency, rose to $1.311 trillion and Solana has maintained as a top gainer, rising 1.5% to $157.