Observe. Think. Chat. Do. Trade. Repeat…
Albert Einstein 1879 – 1955
Albert Einstein (1879 – 1955) was a German-born theoretical physicist who is widely held to be one of the greatest and most influential scientists of all time.
Best known for developing the theory of relativity.
The market reaction to the U.S. jobs report comes down to a simple observation: bad news is good news, as long as it is not too bad.
Stocks rallied sharply after the Labour Department said nonfarm payrolls rose by 150,000 in October 2023, 20,000 fewer than expected but a difference caused mostly by the auto strikes, which appear to be over – a case of bad news is good news.
For the Federal Reserve, the relatively constrained job creation coupled with wage gains nearly in line with expectations adds up to a scenario in which the central bank doesn’t really have to do anything.
The Fed finally got what it’s been looking for – a meaningful slowdown in the labour market.
He has recently shared his views on how AI will eventually create a situation where no job is needed, and how humans will have to find meaning in life.
Elon Musk recently reportedly said that AI will have the potential to become the ‘most disruptive force in history’ and that it will be smarter than the smartest human.
He compared AI to a ‘magic genie’ that would grant unlimited wishes to its owners. He also said that AI will be able to do everything, and that people will not need to work for money, but only for personal satisfaction.
This is a very optimistic and futuristic vision of AI, but it also raises some important questions and challenges.
These are some of the issues that were discussed at the AI Safety Summit 2023 at Bletchley Park in England, where world leaders agreed to a global communique on AI that recognized the potential risks associated with AI.
The summit was attended by, Prime Minister Rishi Sunak, U.S. Vice President Kamala Harris and other tech and business executives, including Elon Musk himself.
AI is a powerful technology that can bring many benefits and opportunities to humanity, but it also requires careful and responsible development and regulation. It can bring ‘disaster’ too if not managed constructively.
It is hoped humans and AI can coexist peacefully and harmoniously in the future.
My biggest fear is this will not be the case.
Grok is a neologism (a newly coined word or expression), referenced by Robert A. Heinlein for his 1961 science fiction novel Stranger in a Strange Land. It means to understand something so deeply that you become one with it.
Grok is a term used in computer programming to mean to ‘profoundly understand something‘, such as a system, a language, or an algorithm.
Elon Musk debuts ‘Grok’ AI bot to rival ChatGPT and others. But, ‘Grok’ isn’t quite ready yet for the general public – it still has some learning to do. xAI, Elon Musk’s new AI venture, launched its first AI chatbot technology named ‘Grok’.
The prototype is in its infancy and early stages of training and is only available to a select group of users before a wider release.
Musk is positioning xAI to compete with OpenAI, Inflection, Anthropic and others.
Grok, the company said, is modelled on ‘The Hitchhiker’s Guide to the Galaxy’. It is supposed to have ‘a bit of wit, a rebellious streak’ and it should answer the ‘spicy questions’ that other AI might dodge, according to a statement from xAI.
The company’s published mandate is to build artificial intelligence ‘to advance our collective understanding of the universe’. Musk has previously said that he believes today’s AI makers are bending too far toward ‘politically correct’ systems.
xAI’s mission, it reportedly said, ‘is to create AI for people of all backgrounds and political views’.
Self-driving car technology, an AI Chatbot built around humour with access to current public data through X, a robot called Optimus and Musk’s drive for the ‘different’. If you add all this together, X.ai, through Musk, is likely positioning itself for the next big push in AI…
…A humanoid robot for the workplace and for the home! Get ready… it’s coming!
South Korea stocks surged on Monday, 6th November 2023 after the country imposed a ban on short selling, while most Asia-Pacific markets took the lead from a lighter than expected U.S. jobs report that helped reduce interest rate expectations.
Financial decision makers in South Korea said short selling will be banned until the end of June 2024. Short selling is when a trader sells borrowed shares to buy back at a lower price and pocket the difference.