Tech founder charged with fraud for 'AI' that was secretly overseas contract workers
The US Department of Justice has indicted Albert Sangier for defrauding investors with misleading statements about his Nate financial technology platform. Founded by Sangier in 2018, Nate claimed it could offer shoppers a universal checkout app thanks to artificial intelligence. However, the indictment states that the so-called AI-powered transactions in Nate were actually completed by human contractors in the Philippines and Romania or by bots. Sangier raised more than $40 million from investors for the app.<br /> This case follows reporting by The Information in 2022 that cast light on Nate's use of human labor rather than AI. Sources told the publication that during 2021, "the share of transactions Nate handled manually rather than automatically ranged between 60 percent [...]
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