OpenAI will use Stripe to monetize its ChatGPT and DALL-E generative AI platforms by helping with billing, subscriptions, and checkout features, while Stripe will incorporate OpenAI's tech into its products. This will give Stripe the ability to enhance customer support, improve process automation, and manage fraud better.
A group of 11 major US banks, including JPMorgan, Bank of America, and Wells Fargo, came together to deposit $30 billion in First Republic to keep it going amid falling stock prices and customer panic. But shares have continued to slide as sentiment around the lender remains fragile.
In 2022, total life insurance IT/technology expenses rose by 6.7%, the fastest rate since 2019. But annual growth will trend lower through 2026, upping the pressure on life insurers to allocate budgets carefully. The key to success is to innovate rapidly and optimize technology budget allocations.