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AI & Enterprise

AI spread drives surge in public service submissions in U.S. and UK

Public service applications and submissions are surging in several countries as generative AI makes it easier to draft documents and file complaints, a phenomenon a researcher calls “Agentic Flooding”. In Britain, Housing Ombudsman complaints rose from 2,600 in 2022 to more than 7,000 last year after the adoption of ChatGPT, while complaints to the U.S. Consumer Financial Protection Bureau increased fivefold. Similar rises appeared in Brazil and Germany.

Crypto

Would a bank charter make crypto safer? Two sides of U.S. federal trust bank approval

An analysis says crypto firms may not fully escape political pressure or supervisory risks even if they obtain a U.S. federal trust bank charter. The charter can strengthen legal standing for custody while bringing firms into direct oversight by the Office of the Comptroller of the Currency. The article contrasts interpretations of Silvergate’s liquidation and notes conditional approvals for several trust bank moves. It adds that regulators retain control through approval conditions and revised supervisory rules.

Finance

Foreign selling of 2.5 trillion won pulls KOSPI down 0.25%, but it holds 7,000

South Korea\'s KOSPI fell on Thursday as foreigners stepped up selling, but it held the 7,000 mark after recovering most intraday losses on buying by institutions and retail investors. The index closed down 0.25% at 7,033.92 after briefly sliding to the 6,900 level. Foreigners were net sellers of 2.49 trillion won, while individuals and institutions were net buyers. The won ended firmer against the dollar and the Kosdaq rose.