News

Google I/O Highlights: AI Agents, Ask Photos, AI Teammate, & More

The event was full of news and announcements, but most centered on Gemini and its expanding capabilities.

Published

2 months ago

May 15, 2024

Joanna Melki

Google

Google held its I/O event aimed at developers yesterday. Plenty of news and product announcements were expected at the showcase, and we weren’t disappointed.

AI Search Overview

The first major reveal was that Google would add AI overviews to search results. The company hopes that AI will be able to take numerous sources of information and make a small, digestible overview for users.

Ask Photos

Next up was news on Google Photos, which is getting a powerful new AI tool called Ask Photos. Google said the feature can effectively search through images and answer questions such as: “What is my car’s license plate number?” or “What date did my child learn to swim?”.

AI Agents

A new tool called AI agents (AI personal assistants) was also debuted at I/O. CEO Sundar Pichai said AI Agents is in its early days, but in the future, it will be able to undertake complex tasks, including scanning through emails, filling out forms, and setting up appointments.

Gemini 1.5 Pro

Google announced new versions of its AI model at the I/O event, known as Gemini 1.5 Pro and Flash. According to the CEO of Google DeepMind, Demis Hassabis, “Flash is a lighter-weight model compared to Pro, and is designed to be fast and cost-efficient to serve at scale while still featuring multi-model reasoning capabilities and breakthrough long context”.

Google added that the technology would soon include features such as video searching, planning (such as travel itineraries), and contextual search.

AI Teammate

AI Teammate is a new AI chatbot that will function as a virtual co-worker. The tool can serve as an office hub, allowing teams to work together more effectively.

Nano

Although a minor announcement, Nano, Google’s smallest AI model, is interesting due to its ability to run entirely on mobile devices. The tool can efficiently intercept and intelligently block annoying spam calls.

Veo

Finally, Google debuted a new video generator named Veo. The product is similar to OpenAI’s Sora and can create “high-quality 1080p videos from text images and video prompts”.

News

Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

2 days ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.