Former Nate CEO who used human workers instead of AI allegedly defrauded investors lured by new tech of millions

Here’s a wild one—fintech startup Nate raised 40 million dollars claiming it had cutting-edge AI to automate online shopping, but prosecutors say it was all a lie. Instead of deep learning, Nate used call centers in the Philippines and Romania to manually process transactions while posing as AI. For the paper packaging industry, this is a red flag—AI claims in supply chain automation should be scrutinized. As e-commerce drives demand for sustainable packaging, false tech promises could derail efficiency planning. In a world chasing AI, transparency is the real innovation.https://www.cbsnews.com/news/former-nate-ceo-human-workers-instead-of-ai-fraud/

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