Australia to Amend Law to Regulate Digital Payments Like Apple, Google Pay 

An illuminated Google logo is seen inside an office building in Zurich, Switzerland December 5, 2018. (Reuters)
An illuminated Google logo is seen inside an office building in Zurich, Switzerland December 5, 2018. (Reuters)
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Australia to Amend Law to Regulate Digital Payments Like Apple, Google Pay 

An illuminated Google logo is seen inside an office building in Zurich, Switzerland December 5, 2018. (Reuters)
An illuminated Google logo is seen inside an office building in Zurich, Switzerland December 5, 2018. (Reuters)

Australia's government said on Monday it would bring Apple Pay, Google Pay and other digital payment services under the same regulatory umbrella as credit cards and other payments as part of legislation set to be introduced to parliament this week.

Digital wallets from the likes of Apple, Google and WeChat developer Tencent have exploded in popularity but are not captured by Australian payments law.

The legislation, first flagged last month, will broaden the legislation that empowers the Reserve Bank of Australia to regulate payments so that it applies to new and emerging technology.

"We are modernizing Australia's payments system to ensure it meets the needs of our economy now and into the future," Treasurer Jim Chalmers said in a statement.

"We want to make sure the increasing use of digital payments occurs in a way that helps promote greater competition, innovation and productivity across our entire economy."

Legislation is set to be introduced on Wednesday or Thursday, according to Chalmers' office.

Regulators are responding to the rapid growth of digital wallets, especially among the young. Transactions from a digital wallet hit 35% of all card transactions in the June quarter, up from 10% in early 2020.

Two-thirds of Australians aged between 18 and 29 use mobile payments. Before the pandemic it was less than 20%.

The amendments will also give a relevant minister power to subject a system or platform to special oversight in the event it presents a risk of "national significance."



SDAIA, KAUST Launch MiniGPT-Med Model to Help Doctors Diagnose Medical Radiology through AI

SDAIA, KAUST Launch MiniGPT-Med Model to Help Doctors Diagnose Medical Radiology through AI
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SDAIA, KAUST Launch MiniGPT-Med Model to Help Doctors Diagnose Medical Radiology through AI

SDAIA, KAUST Launch MiniGPT-Med Model to Help Doctors Diagnose Medical Radiology through AI

The Center of Excellence for Data Science and Artificial Intelligence at the Saudi Data and Artificial Intelligence Authority (SDAIA) and King Abdullah University of Science and Technology (KAUST) have introduced the MiniGPT-Med model.

The large multi-modal language model is designed to help doctors quickly and accurately diagnose medical radiology using artificial intelligence techniques.

Dr. Ahmed Alsinan, the Artificial Intelligence Advisor at the National Center for Artificial Intelligence and head of the scientific team at SDAIA, explained that the MiniGPT-Med model is capable of performing various tasks such as generating medical reports, answering medical visual questions, describing diseases, locating diseases, identifying diseases, and documenting medical descriptions based on entered medical images.

The model was trained on different medical images, including X-rays, CT scans, and MRIs.

The MiniGPT-Med model, derived from large-scale language models, is specifically tailored for medical applications and demonstrates significant versatility across different imaging methods, including X-rays, CT scans, and MRI. This enhances its utility in medical diagnosis.

Dr. Alsinan highlighted that the MiniGPT-Med model was developed collaboratively by artificial intelligence specialists from SDAIA and KAUST.

The model exhibits advanced performance in generating medical reports, achieving 19% higher efficiency than previous models. It serves as a general interface for radiology diagnosis, enhancing diagnostic efficiency across various medical imaging applications.