The release of a new Chinese AI model, DeepSeek AI, has caused complete havoc for competitors’ stock market value, with Chinese innovation pecking US AI models. The most noticeable loser was chip giant Nvidia who suffered a $600bn loss in stock value. 

From AI experts in Silicon Valley, the news reached the whole tech world quickly due to the “seismic” change in who is the current leader in AI.

President Trump has admitted that the US needs a “wake-up call” to recover its global position. Despite the US owning Chat-GPT which was founded in 2022, Deepseek R1 undercuts the cost of its rival AI models. It is the most downloaded app on the Apple Store.

Powered by the DeepSeek-V3 model, the technology cost a fraction of the price of other models at around $6million.

The post The new breakout AI model, DeepSeek first appeared on Identity Week.

The Global Legal Entity Identifier Foundation (GLEIF) today announced a new initiative with the UK business registry, Companies House, to simplify international identification of UK businesses for Legal Entity Identifier (LEI) data users. They will have access via URL links updated within LEI records of UK businesses to check a firm’s Companies House registration data. 

As easy as with one click, LEI users can search registration data including an entity’s compliance with KYC or KYS (Know Your Supplier), facilitating a transparent due diligence process. 

KYC is an obligation for any organisation seeking to do business with a LEI-holding limited company registered in the UK. 

It removes the requirement for global data users to confirm Companies House as the relevant registration authority, identify and navigate to the correct website, translate into local language, and then manually search for an organisation using its business registration number. 

As a result, UK businesses, especially SMEs, stand to benefit from increased discoverability.

Every LEI indicates a verified company and links to their identity record held in the Global LEI Index. Each LEI record contains key reference information registered by local authoritative sources to enable the clear and unique identification of legal entities globally. 

Alexandre Kech, CEO, GLEIF, commented: “GLEIF and Companies House are on a mission to drive corporate transparency, bringing significant benefits to global marketplaces engaging with the UK. Enabling LEI data users to click through to the registration data and official documentation will make the ‘business of doing business’ with UK firms faster and easier to navigate. By connecting directly to the official data about these organisations we’re simplifying due diligence for counterparties all around the world. This initiative reaffirms the benefits of leveraging the LEI as a central data connector to all business registries, everywhere.”

Louise Smyth, Chief Executive, Companies House, comments: “Thanks to our collaboration with GLEIF, LEI data users can now directly access a wide range of business data held at Companies House simply and securely, enabling a new level of transparency for UK firms.”

“This creates new efficiencies in overseas partner due diligence processes and will help highlight new opportunities for UK companies to use their LEI when operating across borders and jurisdictions.”

GLEIF is now seeking to engage additional business registries around the world with the aim of leveraging the LEI as a central data connector to further enhance global corporate transparency and advance the fight against economic crime.

The post GLEIF and Companies House team up to boost identifiability of LEI businesses first appeared on Identity Week.

After carefully exploring how to give access to an identifiable person and not an identity, Founder Klaas Zwart had a destination that could be reached using B-FY’s passwordless, decentralized biometric identification protocol.

B-FY decodes identity, reconnecting the term back to the human requesting an access and creating technology used properly to assess a human’s real characteristics.

The key point about B-FY’s advanced security solution is that it eliminates traditional forms of identity, removes the need for passwords, swipe cards, or biometric patterns, which can be impersonated. Their protocol identifies individuals directly, making it impossible to hack or impersonate. Eliminating fraud and protecting privacy.

Find out more about B-FY: https://b-fy.com/home

The post B-FY adopts different method to matching identities, assuring identified people first appeared on Identity Week.