Artificial intelligence (AI) is not only a powerful tool for solving problems but is also a source of creativity and innovation.
Generative AI is a type of AI that can create new and realistic content, such as images, text, music, software, and product designs, by learning from existing data and generating novel outputs that reflect the characteristics of the training data but do not repeat it.
Gen AI uses various techniques, such as deep neural networks, transformers, and generative adversarial networks, to model the complex patterns and structure of the input data and produce diverse and high-quality outputs. Generative AI can also respond to natural language prompts, allowing users to interact with the system and specify their desired outcomes.
Generative AI has many potential applications across different domains and industries.
Software development
GAI (Generative AI) can help developers write code faster and easier by generating suggestions, corrections, or completions based on the context and the user’s intent. For example, Copilot is a generative AI system that can assist developers with coding tasks by learning from billions of lines of code.
Healthcare
Generative AI can help researchers discover new drugs, treatments, or vaccines by generating novel molecules, proteins, or antibodies that have the desired properties and functions. For example, Insilico Medicine is a company that uses generative AI to design new drugs for aging and age-related diseases.
Entertainment
Generative AI can help artists, musicians, writers, or filmmakers create original and engaging content by generating images, sounds, text, or video that match their style and preferences. For example, Stable Diffusion is a generative AI system that can create realistic and diverse images from text descriptions.
Customer service
Generative AI can help businesses provide better and more personalised service to their customers by generating natural and human-like responses, recommendations, or solutions based on the customer’s needs and preferences. For example, ChatGPT is a generative AI chatbot that can have very human-seeming interactions with users.
Unlocking potential or unleashing the ‘genie’?
Generative AI is a new frontier of creativity and innovation that can unlock new possibilities and opportunities for humans and machines.
Unlocking potential or unleashing the ‘genie’?
However, generative AI also poses some challenges and risks, such as ethical, legal, social, and security issues, that need to be addressed and regulated. Therefore, it is important to develop and use generative AI responsibly and ethically, with respect for human values and dignity.
The CEO of Tesla, Elon Musk recently made an announcement regarding the company’s robotaxi.
According to his social media post on X, Tesla will unveil its robotaxi product on 8th August 2024. This project has been a topic of discussion for several years and could potentially represent a significant new business venture for Tesla.
The robotaxi initiative aims to allow Tesla vehicles to use self-driving technology for autonomous ride-hailing services, picking up passengers without human intervention.
Previous predictions
Elon Musk has made bold predictions regarding the timeline for robotaxis. In 2019, he anticipated having over a million robotaxis in operation by 2020. Currently, Tesla’s advanced driver-assistance systems, such as Autopilot and the premium Full Self-Driving option, still necessitate human oversight.
Nonetheless, amidst the competitive landscape of autonomous vehicles, Tesla remains steadfast in its pursuit of a fully autonomous future.
Tesla One year Chart
Tesla one year chart
Mass production?
Musk stated that a robotaxi model lacking a steering wheel or pedals is expected to enter mass production by 2024. The aim is to make the cost of a journey in the Tesla robotaxi lower than that of a public bus or underground train ticket.
Samsung Electronics anticipates its profits for the first quarter of 2024 to surge more than tenfold compared to the previous year.
This projection is due to the recovery in chip prices following a post-pandemic decline and a surge in demand for artificial intelligence (AI) related products.
As the world’s leading manufacturer of memory microchips, smartphones, and televisions, the South Korea-based Samsung reportedly plans to publish a comprehensive financial report on 30th April 2024.
Projected profit
The tech giant has projected that its operating profit for the January-March 2024 quarter soared to 6.6 trillion won ($4.9bn; £3.9bn), marking a 931% increase from the same period in 2023, surpassing analysts’ forecasts of approximately 5.7 trillion won.
Rebound in microchip prices
A rebound in global semiconductor prices, following a significant downturn the previous year, is expected to bolster its earnings. Over the past year, global memory microchip prices have reportedly increased by about 20%. The semiconductor division of Samsung typically generates the most revenue for the company.
The demand for semiconductors is projected to stay robust throughout the year, fueled by the expansion in AI technologies. Furthermore, the earthquake that struck Taiwan on 3rd April 2024 could potentially constrict the worldwide chip supply, possibly enabling Samsung to further elevate its prices.
Taiwan a key player
Taiwan houses several key chipmakers, including TSMC, which supplies Apple and Nvidia. Despite TSMC reporting minimal impact on its production from the earthquake, it did experience some operational disruptions.
Additionally, Samsung is poised to benefit from the sales of its newly launched flagship Galaxy S24 smartphones, introduced in January.
Reports indicate that Apple is delving into AI-powered robotics, aiming to innovate within the home robotics sector. A Bloomberg article reveals that the tech titan is exploring two fascinating initiatives.
Mobile Robot
Apple is reportedly exploring the development of a robot that can accompany its owner. Envision a congenial AI companion that travels with you.
Robotic Display
The project aims to develop a robotic mechanism capable of moving displays. Despite being periodically removed and reinstated on Apple’s roadmap; it is still in the preliminary research stage.
The projects are spearheaded by Matt Costello, Apple’s VP of Hardware Engineering, and Brian Lynch, the Senior Director of Home Hardware Engineering. Moreover, Apple’s AI team is developing algorithms to enable robots to navigate homes, potentially linking to the mobile robot initiative.
Apple’s foray into AI-driven home robots comes after shelving its electric vehicle project, marking an intriguing development. The company is exploring the integration of AI into AirPods and the possibility of creating smart glasses. Despite not launching generative AI tools as swiftly as some rivals, Apple is set to introduce some later this year.
In the realm of robotics, Apple enters a field with established entities like Amazon, Roomba, and Unitree, which have already introduced home robotics products.
Therefore, it’s worth watching for upcoming Apple AI products in the future!
Intel’s stock dropped by 4% during extended trading on Tuesday 2nd April 2024, following the disclosure of long-anticipated financial details for its semiconductor manufacturing division, often referred to as the foundry business, in a filing with the SEC.
The company reportedly disclosed that its foundry business incurred an operating loss of $7 billion in 2023, against sales of $18.9 billion. This represents a greater loss compared to the $5.2 billion operating loss reported by Intel for its foundry business in 2022, which had sales of $27.5 billion.
This is the first time that Intel has disclosed revenue totals for its foundry business separately. Historically, Intel has both designed its own chips as well as its own manufacturing and reported microchip sales to investors.
Other American semiconductor companies such as Nvidia and AMD design their microchips but send them off to Asian factories such as Taiwan’s TSMC for manufacturing.
NVIDIA reportedly introduced about twenty or so new AI-driven tools tailored for healthcare at its 2024 GTC AI conference, securing partnerships with Johnson & Johnson and GE Healthcare for surgical and medical imaging applications.
For the AI chip pioneer, venturing into healthcare represents a decade-long development effort with substantial revenue possibilities.
The adoption of AI in drug discovery and research, a process that traditionally takes up to 12 years and costs billions, is accelerating rapidly.
The opportunities will be far reaching.
Nvidia one year chart
Dramatic price movement for Nvidia over a one-year period
The EV named ‘Seagull’ sub $10,000 price tag. This vehicle will likely take-off!
Global automakers are becoming increasingly concerned that Chinese competitors, such as the Warren Buffett-endorsed BYD, might saturate their EV market with cheaper EVs, potentially undermining local production and reducing vehicle prices.
Concerns have been raised that this could damage national automotive industries, and balance sheets. However, it would undoubtedly benefit consumers by providing more affordable entry-level electric vehicles.
The BYD Seagull, an all-electric hatchback manufactured in China, is priced at only 69800 yuan (under $10,000) and is said to be profitable for the rapidly growing Chinese automaker.
There’s fear among global automakers that BYD and other Chinese rivals could flood their markets, undercutting domestic production and vehicle prices.
The Chinese are coming to a town near you – it’s just business.
Cold welding is a fascinating phenomenon that allows metals to bond in space
Cold Welding: In the vacuum of space, two metal pieces can fuse without heat or flame when they come into contact. This occurs because:
Metallic Bonds: Metals consist of positively charged ions immersed in a sea of free-moving electrons, which are essential for bonding atoms within the metal.
Oxide Layer: On Earth, metals typically develop an oxide layer on their surfaces due to exposure to air, preventing them from bonding directly.
In Space: Without oxygen in space to create an oxide layer, touching metal pieces can merge through their metallic bonds, forming one solid piece.
Practical Implications
In practice, such occurrences are rare on Earth due to irregularities and the presence of a protective oxide layer.
Even in space, this oxide layer persists unless it is intentionally removed. If it were to be polished away, the metals could indeed weld together.
Designers of satellites and spacecraft must take this into account when selecting metal components for space missions.
Designers of satellites and spacecraft must consider this when selecting metal parts for space missions.
Although it’s not as straightforward as magnets sticking together, cold welding in space is truly possible!
A serious problem or a technical glitch? I call it the donut theory – where everything is perceived as good until… but it isn’t – when you can’t even buy a donut!
Recent issues highlight a growing problem
Due to a payment acceptance issue, the bakery chain Greggs has closed some of its outlets. Patrons encountered certain branches that were either shut or only accepted cash.
This incident comes after card payment systems failed at Sainsbury’s and Tesco on Saturday 16th March 2024, and at McDonald’s on Friday 15th March 2024, and at many other outlets over recent months. Instore shopping and home deliveries were all affected.
Failures
The recent system failures experienced by major UK retailers like Sainsbury’s, Tesco, and even McDonald’s have indeed raised concerns. While these incidents may seem isolated, they highlight broader issues related to technology infrastructure, reliance on digital systems, and the impact of such failures on businesses and consumers.
Potential implications and issues with system failures. We are so dependent on the ‘system’.
Dependency on Technology
Modern businesses heavily rely on technology for operations, from inventory management to payment processing. When systems fail, it disrupts daily operations, affecting customer satisfaction and revenue.
The recent incidents underscore the need for robust backup systems, redundancy, and thorough testing of software updates.
Customer Experience and Trust
System outages can frustrate customers who rely on these services. Delays in grocery deliveries or inability to pay via contactless methods can lead to dissatisfaction.
Trust in a brand can erode if such incidents occur frequently. Customers may seek alternatives or lose confidence in the retailer’s ability to provide reliable services.
Financial Impact
System failures can result in financial losses due to missed sales, refunds, and operational disruptions.
Companies invest significant resources in maintaining and upgrading their technology infrastructure. Failures can be costly both in terms of immediate losses and long-term reputation damage.
Cybersecurity Concerns
System glitches may raise questions about cybersecurity. While not all incidents are related to security breaches, any disruption can make consumers wary.
Retailers must continuously assess and enhance their security measures to protect customer data and prevent unauthorized access.
Supply Chain Vulnerabilities
Supermarkets are part of complex supply chains. System failures can impact suppliers, logistics, and distribution networks.
Ensuring resilience across the entire supply chain is crucial to prevent cascading effects.
Regulatory Compliance
Retailers must comply with regulations related to data protection, payment processing, and consumer rights. System failures could lead to legal and regulatory challenges.
Recent Cyberattacks and System Failures in the UK
Cyberattacks will all have malicious intent, such as accessing, changing, or destroying sensitive information; extorting money from users via ransomware; or interrupting normal business processes.
The digital age has brought unprecedented convenience and efficiency to our lives. However, it has also introduced new challenges, particularly in the realm of cybersecurity and system reliability. In the UK, several high-profile incidents have underscored these challenges. Here are ten recent serious cyberattacks and system failures that have occurred since 2022.
System Failures
NHS IT Failures: In December 2023, the Health Services Safety Investigations Body (HSSIB) reported that IT failures in the NHS have resulted in patient harm and even deaths. Urgent action is needed to address these issues.
Failing IT Infrastructure in the NHS: A report highlighted that the failing IT infrastructure is undermining safe healthcare in the NHS.
Failed Government IT Project: A failed government IT project to upgrade NHS computer systems in England ended up becoming one of the ‘worst and most expensive contracting fiascos’ in public sector history.
Abandoned NHS Patient Record System: In September 2013, an NHS patient record system, which would have been the world’s largest non-military IT system, was abandoned. The failed centralised e-record system cost the taxpayer over £10 billion.
Cyberattacks
Ransomware Attack on NHS: A ransomware attack on a software supplier hit the NHS across the UK, and there were fears that patient data may have been the target.
Ransomware Attack on Greater Manchester Police: The Greater Manchester police force fell victim to a ransomware hack, exposing details of officers’ name badges such as ranks, photos, and serial numbers.
Ransomware Attack on Royal Mail: The Royal Mail was affected by a ransomware attack.
Ransomware Attack on Capita: Outsourcing firm Capita was hit by a ransomware attack.
Ransomware Attack on Barts Health NHS Trust: The Barts Health NHS trust was affected by a ransomware attack.
Ransomware Attack on Redcar and Cleveland Council: In 2020, Redcar and Cleveland council fell victim to a ransomware attack and was locked out of its systems for almost three weeks.
Cyber-Attack on UK VoIP Providers: An ‘unprecedented’ and coordinated cyber-attack struck multiple UK-based providers of voice over internet protocol (VoIP) services.
Hackney Borough Council Cyber-Attack: Hackney Borough Council was hit by a cyber-attack which led to significant disruption to services and IT systems.
Exchange Email Hack: In March 2021, hundreds of UK companies were compromised as part of a global campaign linked to Chinese hackers.
Hacking of 23andMe Profiles: In December 2023, there was a hack of 6.9 million profiles at genetic test firm 23andMe.
Booking.com Customer Hacking: In November 2023, hackers increased attacks on Booking.com customers
And there have been many more. Whatever the reason; system failures or cyberattacks – the UK needs to seriously update and improve its resources and defences or suffer the serious consequences.
These incidents serve as a stark reminder of the importance of robust cybersecurity measures and reliable IT systems. As we continue to rely more heavily on digital systems, it is crucial that we learn from these incidents and take the necessary steps to prevent similar occurrences in the future.
Conclusion
In summary, while individual incidents may not indicate a systemic crisis, they serve as reminders for businesses and local authorities to invest in robust technology, disaster recovery plans, and proactive risk management. As technology continues to evolve, addressing these challenges becomes even more critical.
The U.S. has reportedly initiated a significant lawsuit against Apple, alleging that the technology giant has monopolised the smartphone market and stifled competition.
The Justice Department claims that Apple has misused its dominance over the iPhone App Store to ‘lock in’ customers and developers. The company is also accused of taking unlawful measures to obstruct applications perceived as competitive threats and to degrade the appeal of competing products.
Apple has pledged to ‘vigorously’ contest the lawsuit and refutes the allegations.
A slowdown in iPhone sales in China, the reported dumping of an EV project, no iPhone AI interface to speak of and now a U.S. lawsuit to defend. Is Apple’s ‘crown of dominance‘ slipping ever-so-slightly?
Bitcoin extended its slide on Tuesday 19th March 2024, dropping more than $10,000 from its all-time high last week.
The cryptocurrency went below $63000. Last week it climbed to a record $73679.
The move helped drag other cryptocurrencies lower. Ether lost more than 5% and was recently trading at $3,287.58 after topping $4,000 last week for – a drop some analysts predicted following the network’s *Dencun upgrade. The token tied to Solana fell 8%, Dogecoin lost 7% and XRP slipped 2%.
*Dencun introduces a scaling technology called proto-danksharding. This feature aims to drastically reduce transaction fees on Layer 2 (L2) rollups like Pontem’s SuperLumio, Optimism, and Arbitrum. By efficiently managing large data chunks, *proto-danksharding streamlines transaction processing, particularly for L2 solutions.
*Proto-Danksharding, also known as EIP-4844, is an intermediate step toward achieving a truly scalable Ethereum blockchain. Proto-Danksharding aims to make transactions on Layer 2 as cheap as possible for users and ultimately scale Ethereum to handle over 100,000 transactions per second. It serves as a precursor to full Danksharding.
In summary, Proto-Danksharding paves the way for more efficient and cost-effective Layer 2 solutions, enhancing Ethereum’s scalability and usability.
Bitcoin volatile pullback – profit taking
Bitcoin’s decline started last week when traders began to capitalize on profits following its approximately 70% surge from the beginning of the year to its peak last Wednesday. Data from CryptoQuant indicates a significant increase in investors liquidating their Bitcoin holdings for profit on 12th March 2024.
CoinMarketCap chart demonstrating Bitcoin volatility over 7-day period dropping below $63000
CoinMarketCap chart demonstrating Bitcoin volatility over 7-day perioddropping below $63000
Moreover, the act of securing profits resulted in a surge of long position liquidations for leveraged Bitcoin investments. Centralised exchanges witnessed approximately $122 million in long position liquidations on Monday, as per analysis from Bitcoin exchanges.
The previous week saw nearly $372 million worth of long liquidations over the span of three days.
Bitcoin ETFs
The introduction of spot Bitcoin ETFs in the U.S. earlier this year has significantly contributed to the rally of Bitcoin. This surge began even before the ETFs were officially launched, spurred by the anticipation of their regulatory approval. Concurrently, growing interest from investors and a higher demand for Bitcoin have led to increased leverage and amplified volatility.
Investors and analysts caution that traders ought to proceed with care in March due to the anticipated volatile price movements and a surge in trading volumes, which could result in a deviation from Bitcoin’s sustained upward trend.
Tread with extreme care – or DON’T TREAD AT ALL! Bitcoin is an extremely volatile asset and too unpredictable to trade for my liking.
Nvidia have announced a new generation of artificial intelligence chips and software for running AI models. It’s called: The Blackwell B200 GPU
Blackwell B200 GPU
The Blackwell B200 is the successor to Nvidia’s Hopper H100 and H200 GPUs.
It represents a massive generational leap in computational power.
AI Performance: The B200 GPU delivers 4 times the AI training performance and 30 times the inference performance compared to its predecessor.
Transistor Count: It packs an impressive 208 billion transistors, more than doubling the transistor count of the existing H100.
Memory: The B200 features 192GB of HBM3e memory with an impressive bandwidth of 8 TB/s.
Architecture: The Blackwell architecture takes over from H100/H200.
*Dual-Die Configuration: The B200 is not a single GPU in the traditional sense. Instead, it consists of two tightly coupled die, functioning as one unified CUDA GPU. These chips are linked via a 10 TB/s NV-HBI connection to ensure coherent operation.
*Dual-die packaging technology is used to pack two integrated circuit chips in one single package module. It doubles functionality levels.
Process Node: The B200 utilizes TSMC’s 4NP process node, a refined version of the 4N process used by Hopper H100 and Ada Lovelace architecture GPUs.
The Blackwell B200 is designed for data centres and AI workloads but will likely be available to expect consumer in the future, although these may differ significantly from the data centre model.
Grace Blackwell GB200 Superchip:
Nvidia’s GB200 Grace Blackwell Superchip, with two B200 graphics processors and one Arm-based central processor
This superchip pairs the Grace CPU architecture with the updated Blackwell GPU.
It’s another addition to Nvidia’s lineup, combining CPU and GPU power for advanced computing tasks.
Nvidia continues to push the boundaries of accelerated computing, and these new GPUs promise remarkable performance improvements for AI and other workloads.
Onwards and upwards for Nvidia and the advancement of AI.
Apple is reportedly engaged in negotiations to acquire a licence for Google’s Gemini, a generative AI platform, with the intention of integrating it into iPhones. These ongoing discussions may result in Gemini enhancing iPhone software with new features later this year.
The terms, branding, and implementation details have not been finalised. This potential partnership could significantly impact the AI capabilities of future iPhones.
Elon Musk sparked intense debate on the trajectory of artificial intelligence (AI) after he shared a clip from the Joe Rogan Experience podcast via his X account.
In the video, futurist Raymond Kurzweil explored the future of artificial intelligence (AI), proposing that it might soon outstrip human intellect.
Elon Musk, noted for his candid opinions on AI, echoed Kurzweil’s forecast by stating, ‘AI will likely be more intelligent than any individual human by next year.’ Furthermore, he speculated that by 2029, AI could surpass the combined intelligence of all humanity.
Screen capture of Elon Musk’s post on X
Artificial General Intelligence
Artificial General Intelligence (AGI), capable of outperforming human intelligence, has recently drawn widespread attention from technology leaders worldwide, especially with the advent of sophisticated AI systems such as ChatGPT, Bing AI, and Gemini. Despite its increasing prominence, a unified definition of AGI remains elusive. Typically, AGI is understood to be a phase in AI evolution where the system can undertake any human task, potentially excelling beyond human expertise in certain domains.”
In the realm of technology leadership, a broad range of views exists on the feasibility and consequences of Artificial General Intelligence (AGI). While some leaders speculate about the timeline for AGI’s realization, others doubt its eventual occurrence. Opinions also differ on whether AGI will lead to beneficial progress or present risks to human society. Comprehending the varied stances of tech leaders sheds light on the active debate regarding AGI and its prospective influence on society.
Musk’s choice to disseminate the podcast excerpt has intensified the discourse on AI advancement’s ramifications. His use of his platform to broadcast Kurzweil’s insights has sparked additional discussion and contemplation about artificial intelligence’s revolutionary capabilities.
His tweet has ignited wider conversations concerning the swift advancement of technology and its significant consequences for the future of humanity.
Raymond Kurzweil
Raymond Kurzweil, born 1948, is an American computer scientist, author, inventor, and futurist renowned for his contributions to various fields, including optical character recognition (OCR), text-to-speech synthesis, speech recognition technology, and electronic keyboard instruments.
Through his comprehensive body of work, Kurzweil has researched a variety of subjects including health, artificial intelligence (AI), transhumanism, the technological singularity, and futurism.
The European Union (EU) has made history by approving the world’s first comprehensive regulatory framework for artificial intelligence (AI).
Artificial Intelligence Act
Known as the Artificial Intelligence Act, this groundbreaking legislation is expected to serve as a global signpost for other governments grappling with how to regulate this fast-developing technology.
The AI Act takes a risk-based approach, categorizing AI applications based on their risk levels. It prohibits certain high-risk uses, emphasizes transparency, and aims to keep AI development human centric. This landmark regulation should help set a precedent for responsible AI deployment worldwide.
The regulation is expected to become enforceable in May 2024, after passing final checks and receiving endorsement from the European Council.
The World Wide Web (WWW), the invention attributed to Tim Berners-Lee while working at CERN, was conceived on 12th March 1989. This makes the World Wide Web 35 years old today.
It is important to recognise that the Web and the Internet are two different entities; the Web is a service that functions via the Internet, a worldwide network of interconnected computer networks. Whereas the Internet is the system.
The first successful communication between a Hypertext Transfer Protocol (HTTP) client and server through the Internet took place in mid-November 1989.
The Web has since evolved significantly, with the release of the first web browser and server, and the development of HTML, CSS, and JavaScript, which have shaped the modern digital experience.
First website
The inaugural website was launched at CERN and became accessible on 20th December 1990. Tim Berners-Lee developed this site to disseminate information about the World Wide Web project. In August 1991, it was made available to the public. Today, it is still possible visit this site, offering an intriguing look into the web’s nascent stages.
The internet
The internet, as we know it today, began to evolve in the mid-20th century. This era, known as the Information Age, Digital Age, or Computer Age, is characterised by a transition from traditional industry to an economy driven by information technology. This shift commenced in the 1940s and 1950s. The invention of the transistor in 1947 and the optical amplifier in 1957 were pivotal developments that propelled the advent of the internet.
The term ‘internet’ commonly denotes the worldwide system of interconnected computer networks that utilize the Internet protocol suite (TCP/IP) to connect devices globally. It is an extensive network comprising private, public, academic, business, and government networks of local to global systems.
ARPANET
Since the ARPANET’s inception, which is the internet’s precursor, the internet has been in existence for over 50 years. The ARPANET was conceived in the late 1960s and became operational in 1969. The internet is approximately 55 years old.
Art illustration depicting users on the World Wide Web – 35 years old today, 12th March 2024
The ARPANET, also known as the Advanced Research Projects Agency Network, represented the first wide-area packet-switched network featuring distributed control and was among the earliest to adopt the TCP/IP protocol suite.
These innovations laid the groundwork for what would become the Internet. Initiated by the U.S. Department of Defence’s Advanced Research Projects Agency (ARPA), the primary goal of ARPANET was to connect computers at Pentagon-funded research institutions via telephone lines, facilitating resource sharing and communication across distant computers.
The project commenced in 1966, with the initial computers being connected in 1969. By 1971, the network was operational and underwent rapid expansion. ARPANET was instrumental in introducing several protocols pivotal in today’s Internet communication, including the Network Control Protocol (NCP) and subsequently, TCP/IP.
Following the advent of the wider Internet, which ARPANET played a crucial role in catalyzing, the network was officially decommissioned in 1990.
Happy Birthday WWW and thank you Tim-Burners-Lee (I think)
Let’s see how far artificial intelligence (AI) becomes embedded in the next generation of the World Wide Web and of further internet development. Will the big tech companies of today still be running the AI projects of tomorrow?
Bitcoin has been on a remarkable ascent! It soared past the $72,000 mark on Monday 11th March 2024, setting a new all-time record.
This surge is attributed to a growing demand for new spot exchange-traded funds (ETFs), which have been approved for listing in the U.S. by some of the world’s largest financial firms.
The market for these ETFs is expected to reach $62 billion in the next two or three years. The cryptocurrency keeps surprising everyone with its value, which has grown to an amazing $1.42 trillion and is still rising… again!
Bitcoin moved off its all-time record shortly after achieving it.
According to recent analysis, Apple’s iPhone sales in China dropped some 24% in the first six weeks of 2024 compared to the same period last year.
Apple faces stiff competition from local rivals in one of its biggest markets.
Meanwhile, Huawei, a Chinese company, saw its sales soar by 64% in its home market during the same period, the analysis demonstrated. But we do not have sales data of other countries for comparison.
The report also said that overall smartphone sales in China shrank by 7% in the same period.
Huawei, which suffered for years from US sanctions, boosted its sales after launching its Mate 60 series of 5G smartphones in August 2023.
Is this a worry for Apple, after all, the iPhone is Apple’s flagship product? Also, Apple recently junked its electric vehicle project and has been left behind in AI. Is the crown ever-so-slightly slipping?
Apple 3 month share price with 50 day moving average
Apple 3 month share price with 50 day moving average
Figure AI is a robotics company that aims to create the first commercially viable humanoid robot. The plan is for the robot to perform various tasks in different industries.
Brett Adcock, a former software engineer and entrepreneur, founded the company in 2023. He envisioned a way to enhance the quality of life by integrating artificial intelligence (AI) and humanoid engineering.
Figure AI, a startup that has created a humanoid robot for commercial use, has secured $675 million in funding. Some of the investors include Jeff Bezos, Nvidia, Microsoft and OpenAI.
The company plans to use the funds to speed up the development of its general-purpose robot, named Figure 01. This robot resembles and behaves like a human.
Figure AI was founded in 2022 and has been working on creating a versatile robot that can perform multiple tasks.
Flagship product
Figure AI’s flagship product is a human-like robot called Figure 01. This robot can mimic human appearance and motion. It uses sophisticated AI techniques to acquire new skills, adjust to changing situations, and communicate with its surroundings.
Figure 01 can perform tasks that require dexterity, mobility, and intelligence, such as manufacturing, logistics, warehousing, and retail. The humanoid robot is designed to work safely and efficiently alongside humans, complementing their skills and capabilities.
Figure 01
Investment
Some of the world’s leading technology companies, such as Microsoft, OpenAI, Nvidia, and Amazon, have invested in Figure AI.
The company also collaborates with BMW, a major global automaker, to use Figure 01 in its production facilities. Figure AI aims to transform the automotive industry by introducing more flexibility, productivity, and innovation to the manufacturing process.
Vision
The vision is for the company to build a future where humans and humanoids can coexist and cooperate to accomplish more than ever before.
Figure AI is to create humanoids that can help humans address the urgent challenges of the 21st century. These tasks will likely include climate change, population growth and social inequality. The company’s goal is to develop a versatile humanoid that can be marketed and accessible for everyone.
The relentless volatile march of Bitcoin continues… again!
Bitcoin jumped gain, edging ever closer to its all-time high after the rally took a breather over the weekend. Last week, Bitcoin surged $10,000 in the space of a couple of days.
It looks very much like the ETFs are kicking in during normal weekly trading moving Bitcoin other than just at weekends. The market also has an eye on the halving event due in April.
Bitcoin 7 day chart showing it above $69000 on 5th March 2024 – CoinMarketCap
Bitcoin 7 day chart showing it above $69000 on 5th March 2024– from CoinMarketCap.
Bitcoin halving is an event that occurs approximately every four years, when the reward for mining Bitcoin transactions is reduced by 50%. This means that the number of new Bitcoins created and entering circulation is also cut in half.
Bitcoin mining
Bitcoin mining is the process of using computers to validate transactions and add them to the blockchain, a distributed ledger that records all Bitcoin activity. Miners compete to solve complex mathematical problems and the first one to find a valid solution gets the block reward, which is currently 6.25 Bitcoins per block.
Bitcoin halving
The Bitcoin halving is coded into the Bitcoin protocol by its perceived creator, Satoshi Nakamoto, as a way to control the total supply of Bitcoin and make it scarcer and more valuable.
There can only be 21 million Bitcoins in existence, and the halving ensures that the last Bitcoin will be mined around the year 2140.
The Bitcoin halving has implications for the Bitcoin network and the price of Bitcoin. On one hand, the halving reduces the inflation rate of Bitcoin and increases its scarcity, which could lead to higher demand and upward pressure on the price.
A brief explanation of Bitcoin halving
On the other hand, the halving also reduces the profitability of mining and could cause some miners to exit the network, which could affect the security and stability of the network.
Important
The Bitcoin halving is an important event for the Bitcoin community and the cryptocurrency industry, as it reflects the unique and innovative nature of Bitcoin as a digital and decentralized form of money.
As tech giant Nvidia soars on hype around artificial intelligence (AI), and as global stock indexes claim record highs, debate has grown about whether the stock market has entered a ‘bubble.’
An AI bubble of boom
We are reminded of the dotcom bubble where investment was rife in anything tech – so, are we now potentially facing a new tech bubble – an AI bubble of boom?
That’s generally seen as a period in which asset prices inflate rapidly, potentially beyond their core value; and risk crashing just as fast.
Other AI stocks are chasing the dream too adding to the hype. However, some are in the slow lane playing catch-up and this may suggest there is much, much more to come.
The likes of AMD, Intel, Amazon, OpenAI, Arm and a myriad of other tech companies big and small have much more AI to bring to the tech table.
Let’s use Nvidia as an example of a potential stock bubble
If we look at the valuation of Nvidia, justifiably it is actually very high, too high even – that’s the first sign of a potential problem, valuation. The second issue is investor positioning – whenever you have a market bubble, investors are very clustered or very concentrated, either in one market or in one sector as a whole.
Nvidia one year chart as of 29th February 2024. Price 791
Nvidia one year chart as of 29th February 2024. Price 791
Sectors
It doesn’t matter which markets you look at – the U.S., Europe or Asia markets – the problem is the same. We now have an historic valuation between the tech sector, the AI sub-sector of the tech sector, and the rest of the market.
Investors are very clustered in this tech sector. However, some leading commentators say of tech that this is not hype – this is real. It most probably is, for now, and with much more to come from the smaller tech and AI companies that have yet to show their true AI value. But all bubbles burst in the end.
Pop!
There is certainly plenty of room for AI to grow – it’s in its infancy – but the question is: ‘how and when will the bubble burst? Because, in my humble opinion, it most certainly will.
We may not see a dramatic market crash like 1999-2000 or 2007/2008, but an investor rotation out of areas of concentration into the broader market will likely happen.
If you look at the bubbles of 1999-2000, and then in 2007/2008, one key characteristic was investor leverage. And we had, whether it was retail investors or institutional investors, a very high level of leverage, and that was either through borrowings or it was through derivatives.
The AI tech boom has legs but there will almost inevitably be a rotation from AI to other sectors – that will then adjust the overvalued AI sector. And it could pullback quite hard.
Water scarcity is a pressing global issue and has far-reaching consequences across various industries. One sector significantly affected is semiconductor manufacturing.
How does water scarcity pose a threat to the production of essential microchips.
Water in Semiconductor Manufacturing
Ultra-pure water is a critical resource in semiconductor fabrication plants (fabs). It is used for cleaning, cooling, and various processing steps during chip production.
Microchips power our devices—computers, smartphones, sensors, and LEDs—all of which rely on water-intensive manufacturing processes.
Global Water Scarcity
Freshwater availability is unevenly distributed worldwide. While oceans contain 97% of water (mostly saline), accessible freshwater constitutes only a small fraction.
Approximately four billion people experience severe water scarcity for at least one month annually, and half a billion face it year-round.
Taiwan’s Drought and Chip Production
Taiwan, a semiconductor manufacturing hub, faces a severe drought. Over 20% of global microchips are produced there.
Water shortages threaten supply chains, potentially impacting chip production.
Cost and Sustainability
Creating fully self-sufficient local supply chains would cost $1 trillion. Such self-reliance could increase semiconductor costs by up to 65%.
Urgent action is needed to ensure sustainable water management in fabs, as chips control everything from cars to appliances.
In conclusion, water scarcity poses a real danger to semiconductor production. Addressing this challenge requires strategic planning, conservation efforts, and global cooperation.
AI a problem or a solution?
Will the problem of water scarcity exacerbate the uneven distribution of water around the world as the rich have easier access to the precious resource.
Will the explosion of AI tech push the imbalance – water is a basic necessity to maintain human life. Will AI have a hand in controlling the distribution of water – even for its own needs?
See-through screens, phones that wrap around your wrist, expandable displays and smart rings – just some of the products on display at the Mobile World Congress in Barcelona
Samsung ring
Samsung’s Galaxy Ring, its latest wearable, is launching with health-tracking features including heart rate and sleep monitoring.
Samsung ring – latest wearable device. Works in conjunction with smart watch and app
These are all concept tech that gadget makers showed off this week in a bid to stand out from competitors.
At the Mobile World Congress in Barcelona, companies from Lenovo to ZTE showed off displays for their devices.
ZTE 3D display
ZTE showed off a second-generation tablet that displays three-dimensional images. Typically, 3D images have required some sort of glasses to view, as is the case with 3D movies in theatres.
But this screen produces a 3D image without glasses.
Lenovo see-through screen
China’s Lenovo showed a prototype of a laptop with a see-through display.
The company, which is the world’s largest PC maker, showed how an object can be placed behind the screen and detected by the device’s cameras. Information about the object would be displayed on the screen.
In recent days, Google’s artificial intelligence (AI) tool, Gemini, has faced intense criticism online. As the tech giant’s answer to the OpenAI/Microsoft chatbot ChatGPT, Gemini can respond to text queries and even generate images based on prompts. However, its journey has been far from smooth.
The AI answer is wrong
The issues began when Gemini’s image generator inaccurately portrayed historical figures. For instance, it depicted the U.S. Founding Fathers with a black man, and German World War II soldiers included both a black man and an Asian woman.
AI answer from Google’s Gemini Chatbot
Google swiftly apologized and paused the tool, acknowledging that it had “missed the mark.”
It gets worse
But the controversy didn’t end there. Gemini’s text responses veered into over-political correctness. When asked whether Elon Musk posting memes was worse than Hitler’s atrocities, it replied that there was “no right or wrong answer.” In another instance, it refused to misgender high-profile trans woman Caitlin Jenner, even if it meant preventing nuclear apocalypse. Elon Musk himself found these responses “extremely alarming.”
Nuance
The root cause lies in the vast amounts of data AI tools are trained on. Publicly available internet data contains biases, leading to embarrassing mistakes. Google attempted to counter this by instructing Gemini not to make assumptions, but it backfired. Human history and culture are nuanced, and machines struggle to grasp these complexities.
Political bias
Google now faces the challenge of striking a balance: addressing bias without becoming absurdly politically correct. As Gemini evolves, finding this equilibrium will be crucial for its survival.
After all, it’s not just about AI, is it? It’s about navigating the delicate intersection of technology, culture, and ethics.
Definition of nuance – I asked ChatGPT for its definition…
Nuance refers to the subtle, intricate, or delicate aspects of something. It encompasses the fine distinctions, shades of meaning, and context-specific interpretations that add depth and complexity to a situation, conversation, or piece of art. In essence, nuance recognizes that not everything can be neatly categorized or expressed in black-and-white terms; rather, it acknowledges the richness and variability of human experiences and ideas. Whether in literature, politics, or everyday interactions, appreciating nuance allows us to navigate the complexities of life with greater understanding and empathy.
Apple has reportedly cancelled its plans to build an electric car, bringing an end to a secretive project known as Project Titan
The EV project consumed immense resources over the past 10 years, with executives from the company making an unexpected announcement. The decision to halt the program marks a significant retreat from Apple’s previous strategy.
Apple has never publicly acknowledged the project, which was rumoured to involve some two thousand people.
Key points:
Project Titan: Under the codename Project Titan, Apple aimed to develop an electric, semi-autonomous vehicle. The company reportedly spent billions on this initiative, hiring executives from renowned car companies and acquiring autonomous vehicle startups.
Setbacks and Delays: The attempts to bring an Apple EV to market faced numerous setbacks, including layoffs, executive departures, and shifting ambitions.
Shift to Generative AI: Many employees who worked on the electric car project will now transition to working on generative artificial intelligence (AI) projects. Apple’s focus will shift toward AI research and development.
Tesla Comparison: Initially, Apple reportedly considered developing an entirely self-driving car with no steering wheel. However, the company later decided to focus on a vehicle with some self-driving capabilities, akin to Tesla’s EVs.
Apple now aims to deliver generative AI features to consumers within the year
While the electric car dream may have faded, Apple’s focus on cutting-edge technology continues as it shifts towards AI innovation.
But how much more innovation and profit is there left to squeeze from the iPhone?
