Tech founder accused of fraud using “AI” as a secret overseas contract worker

The U.S. Department of Justice has accused Albert Sangier of deceiving investors, causing misleading statements about his Nate financial technology platform. Founded by Sangier in 2018, Nate claims it can offer shoppers a universal checkout app thanks to artificial intelligence. But the Philippines and Romania or robotics human contractors actually complete the so-called AI-driven transactions in the country. Sangier raised more than $40 million in apps from investors.

This case follows a report In 2022, this reveals Nate’s use of artificial rather than AI. Sources told the publication that in 2021, “the share of transactions is processed manually, rather than automatically between 60% and 100%.

For centuries, many ambitious and morally challenging entrepreneurs have tried to use their destiny as mechanical or technological innovation. Claiming results as AI work is just the most widely used application in the digital age in this idea.

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