Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Sam Jayne / Axios

Intel today released intelligent software that targets money-laundering — the methods that corrupt autocrats, narcotics traffickers, and sanctions-busters use to legitimize their illicit cash.

Why it matters: There's a broad commercial struggle going on between Intel and chip rivals like Nvidia, with which it is in a death grip for the rich future of enabling artificial intelligence. With the announcement, Intel is putting points on the board, showing off know-how in the serious and exotic space of tracking illicit cash, which is harder to detect amid the sea of data coursing through the global financial system.

In 2016, between $800 billion and $2 trillion in illicit cash, equivalent to 2%-5% of global GDP, was laundered in various ways, according to the United Nations. In just one series of transactions, western banks including Citi, Barclays and Deutsche Bank were conduits for $22 billion illicitly shipped out of Russia from 2011 to 2014, according to an investigation by the Organized Crime and Corruption Reporting Project and Russia's Novaya Gazeta.

How it's usually investigated: Gayle Sheppard, vice president of the Saffron AI Group, an artificial intelligence subsidiary that Intel acquired two years ago, tells Axios that standard software models attempt to attack these industrial-scale criminal operations by studying financial transactions. But ferreting through the data can take weeks or months, she said.

What AI can offer: Intel is using a form of AI known as "associative memory," which Sheppard said incorporates transactions and suggestive personality behaviors, meaning the people and organizations that carry out the money laundering.

How it works: The software rapidly looks for hidden patterns in reams of emails, texts and other bank and insurance data that can indicate criminal behavior. Then it flags any anomalous data for human investigators, who check whether in fact money laundering is going on. Sheppard said this process can be carried out "in real-time."

Bottom line: The market for such software is banks and insurance firms that worry of reputational damage and fines should they be caught allowing money laundering. In January, for instance, Deutsche Bank was fined $630 million by the United States in a $10 billion money laundering case involving Russia.

Go deeper

Army officer lawsuit shines light on police treatment of Afro-Latinos

A screenshot from bodycam footage showing U.S. Army Lt. Caron Nazario during the traffic stop in December, when he was pepper-sprayed.

Caron Nazario, a Black and Latino lieutenant in the U.S. Army, was threatened and pepper-sprayed during a traffic stop that is now under investigation by the Virginia attorney general's office for being “dangerous, unnecessary, unacceptable and avoidable.”

Why it matters: Nazario’s resulting lawsuit against the Windsor, Virginia, police department has brought attention to police treatment of Afro-Latinos, and the lack of data about it despite a growing reckoning over abuses from law enforcement.

2 hours ago - Health

Global COVID-19 death toll surpasses 3 million

Illustration: Sarah Grillo/Axios

The global toll of confirmed deaths from COVID-19 surpassed 3 million on Saturday, according to data from Johns Hopkins University.

By the numbers: The U.S. has seen more deaths (566,238) than any other country, followed by Brazil (368,749) and Mexico (211,693).

Bryan Walsh, author of Future
4 hours ago - Technology

Meet your doctor's AI assistant

Illustration: Annelise Capossela/Axios

Artificial intelligence is breaking into the doctor's office, with new models that can transcribe, analyze and even offer predictions based on written notes and conversations between physicians and their patients.

Why it matters: AI models can increasingly be trained on what we tell our doctors, now that they're starting to understand our written notes and even our conversations. That will open up new possibilities for care — and new concerns about privacy.