The US Department of Justice has brought charges against Albert Sangier for deceiving investors with false information regarding his Nate financial technology platform. Sangier, who established Nate in 2018, touted the platform as being able to provide consumers with a universal checkout application powered by artificial intelligence. However, investigations revealed that the purported AI-driven transactions on Nate were actually carried out by human workers in the Philippines and Romania, as well as by automated bots. Sangier managed to secure over $40 million in funding from investors for the development of the app.
This legal action comes on the heels of a 2022 report by an undisclosed source that shed light on Nate’s reliance on human labor rather than true AI technology. According to insider information, in 2021, a significant portion of Nate’s transactions were handled manually, with figures ranging from 60% to 100%.
Throughout history, numerous ambitious yet morally questionable entrepreneurs have sought to amass wealth by passing off human labor as a groundbreaking mechanical or technological advancement. In the modern digital era, labeling such outcomes as AI achievements represents the latest iteration of this age-old practice.
This article was originally published on Engadget at [insert original link].
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