Fintech founder charged with fraud after 'AI' shopping app found to be powered by humans in the Philippines

Today in tech meets truth: Albert Saniger, founder of AI shopping app Nate, has been charged with defrauding investors after claiming his app used artificial intelligence to automate online purchases—when in reality, it was powered by call center workers in the Philippines. Despite raising over 50 million dollars from top firms like Coatue and Forerunner, Nate’s AI automation rate was allegedly zero. So what’s the packaging industry takeaway? This scandal shows the danger of overhyping AI in e-commerce—brands betting on AI-driven retail demand should scrutinize tech claims carefully, because inflated automation can ripple down the supply chain, impacting demand forecasts for paper-based packaging in omnichannel fulfillment.https://techcrunch.com/2025/04/10/fintech-founder-charged-with-fraud-after-ai-shopping-app-found-to-be-powered-by-humans-in-the-philippines/

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