Good morning, Vertica AI team. You're listening to the Vertica Newshound, your go-to source for the latest in AI developments as we keep you informed on the industry trends that matter. Today is November twenty-eighth, two thousand twenty-four. I'm your host, and here's what's making waves in the AI space today.In today’s episode, we highlight the Commonwealth Bank of Australia's groundbreaking use of AI technology to enhance customer services while significantly reducing fraud and processing times. We also explore essential tools like OpenTelemetry for monitoring system performance, the impact of API performance on e-commerce, and the implications of US semiconductor sales restrictions on the tech industry.Our main story discusses the significant accomplishments of the Commonwealth Bank of Australia in utilizing generative AI tools. The bank has halved customer losses due to scams and cut mortgage pre-approval times to just 10 minutes. These advancements underline the importance of AI in improving customer interactions and reducing fraud, with a notable 30% drop in fraud-related issues and a 40% reduction in call center wait times due to an advanced messaging app. However, challenges remain, including ensuring the accuracy of AI responses and managing initial investment costs for smaller companies. This progress sets a benchmark for AI's role in risk management and enhancing e-commerce security.Additional topics include the integration of OpenTelemetry with Node.js and Express applications to monitor distributed systems effectively, highlighting its benefits for e-commerce platforms. We also discuss a real-world example illustrating critical API performance challenges and the role of EchoAPI in load testing. Lastly, on the geopolitical front, we consider the US's potential semiconductor sales curbs to China and their implications for global tech industries.For further details, read about the Commonwealth Bank's AI initiatives in this Bloomberg article: [AI Cuts Scam Losses, Speeds Up Home Loans](https://www.bloomberg.com/news/articles/2024-11-28/ai-cuts-scam-losses-speeds-up-home-loans-at-top-australia-bank).Explore the integration of OpenTelemetry with gRPC in Node.js applications: [Using OpenTelemetry with gRPC](https://dev.to/devvemeka/using-opentelemetry-with-grpc-in-nodejs-and-express-hybrid-applications-4ibe).Learn more about the critical performance issues and EchoAPI's role in load testing: [A Critical Performance Issue Led Me to Discover EchoAPI's Load Testing](https://dev.to/philip_zhang_854092d88473/a-critical-performance-issue-led-me-to-discover-echoapis-load-testing-59f6).Stay informed about the US semiconductor sales curbs: [US Preps China Chip Curbs That Stop Short of Early Proposals](https://www.bloomberg.com/news/articles/2024-11-28/us-readies-china-chip-curbs-that-stop-short-of-earlier-proposals).That's all for today's episode of the Vertica Newshound. Stay tuned for more updates and innovations in the AI world shaping our industry. Have a productive day ahead.
