Australia Releases New National AI Plan, Opts for Existing Laws to Manage Risks 
Baidu Cuts Jobs as AI Competition and Ad Revenue Slump Intensify 
Firelight Launches as First XRP Staking Platform on Flare, Introduces DeFi Cover Feature 
Visa to Move European Headquarters to London’s Canary Wharf 
Michael Dell Pledges $6.25 Billion to Boost Children’s Investment Accounts Under Trump Initiative 
Microchip Technology Boosts Q3 Outlook on Strong Bookings Momentum 
Australia Moves Forward With Teen Social Media Ban as Platforms Begin Lockouts 
Norway’s Wealth Fund Backs Shareholder Push for Microsoft Human-Rights Risk Report 
IKEA Expands U.S. Manufacturing Amid Rising Tariffs and Supply Chain Strategy Shift 
OpenAI Moves to Acquire Neptune as It Expands AI Training Capabilities 
Netflix Nearing Major Deal to Acquire Warner Bros Discovery Assets 
Wikipedia Pushes for AI Licensing Deals as Jimmy Wales Calls for Fair Compensation 
Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman 
Amazon Italy Pays €180M in Compensation as Delivery Staff Probe Ends 
Taiwan Opposition Criticizes Plan to Block Chinese App Rednote Over Security Concerns 
YouTube Agrees to Follow Australia’s New Under-16 Social Media Ban 
Citigroup and Ant International, a fintech affiliate of China’s Ant Group, have launched a pilot program leveraging artificial intelligence to help global businesses manage foreign exchange (FX) risk more effectively. The initiative merges Citi’s Fixed FX Rates solution—commonly used by e-commerce and corporate clients—with Ant International’s Falcon Time-Series Transformer, an advanced AI forecasting tool designed to reduce FX hedging costs.
The program initially targets aviation sector clients and has already been tested in live transactions. A major Asian airline reportedly achieved a 30% reduction in hedging costs for online ticket sales using the AI-driven solution, underscoring the potential of machine learning in financial risk management.
Kelvin Li, general manager of Platform Tech at Ant International, noted the efficiency gains: “The 30% hedging cost savings Ant International has achieved for the pilot airline customer shows the cost efficiency that can be achieved with AI-enabled FX hedging.” He added that the company plans to expand the service with Citi across more industries.
This development follows Citigroup’s broader adoption of AI tools, which began earlier this year, giving 140,000 employees in eight countries access to AI technologies. The bank joins other major financial institutions such as Morgan Stanley, which uses a chatbot for advisor support, and Bank of America, which operates Erica, an AI assistant for retail banking clients.
Ant International, founded by Jack Ma’s Ant Group, operates globally across Asia, Europe, the Middle East, and Latin America, focusing on digital payments, financial digitization, and advanced fintech services.
As global businesses navigate volatile currency markets, AI-powered solutions like this partnership aim to deliver smarter, more cost-effective hedging strategies—marking a step forward in fintech innovation and cross-border finance.
