Elon Musk is one of the most influential and visionary leaders in the field of AI.
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.
Disruptive or force for good?
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.
‘AI genie is out of the bottle!’
This is a very optimistic and futuristic vision of AI, but it also raises some important questions and challenges.
How will humans cope with the loss of work and purpose?
How will society and economy function without jobs and income?
How will humans ensure that AI is aligned with their values and interests?
How will humans prevent AI from becoming a threat or a tyrant?
UK AI summit
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.
Benefit or a disaster waiting to happen?
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.
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’s Grok
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.
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…
Musk is positioning xAI to compete with OpenAI, Inflection, Anthropic and others.
Less woke
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.
Grok, the company said, is modelled on ‘The Hitchhiker’s Guide to the Galaxy’.
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’.
Future AI
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…
There is some evidence that AI could create the next financial crisis, according to some experts and regulators.
AI scenarios
AI could increase the complexity and opacity of financial markets, making it harder to monitor and prevent systemic risks. For example, AI could enable new forms of market manipulation, fraud, or cyberattacks that could destabilize the financial system.
AI could create feedback loops or cascading effects that could amplify shocks and cause contagion across different sectors and regions. For example, AI could trigger flash crashes or sudden liquidity shortages that could spread rapidly and disrupt market functioning.
AI could create new sources of concentration and interdependence that could increase the vulnerability of the financial system. For example, AI could create a reliance on a few dominant data providers, platforms, or models that could fail or malfunction.
AI bots could take control of a stock trading platform or worse a stock exchange.
These are some of the possible scenarios that AI could create the next financial crisis. However, there are many potential benefits and opportunities that AI could bring to the financial sector, such as enhancing efficiency and innovation and even enhancing easier access and personal financial control for millions of investors and savers.
AI could lead to the next financial crash! It could also enhance personal financial control.
The UK supercomputer project is a major initiative by the UK government to boost the country’s capabilities in artificial intelligence, weather forecasting, climate research and other highly important scientific research projects.
The project involves building and connecting two new supercomputers across the UK: Isambard-AI and Dawn.
Dawn will be a new supercomputer cluster at the University of Cambridge, delivered by a partnership with Dell and UK SME StackHPC. It will be powered by over 1,000 Intel chips that use water-cooling to reduce power consumption. It will target breakthroughs in fusion energy, healthcare and climate modelling.
The UK supercomputer project is part of a £300 million investment from the government to create a new national Artificial Intelligence Research Resource for the country. The project is expected to be completed by summer 2024.
The investment comes as the UK hosts an AI safety summit in Bletchley Park, home of World War II codebreakers.
These announcements are all part of the £1 billion supercomputer plan launched in May 2023.
The White House has announced what it is calling ‘the most significant actions ever taken by any government to advance the field of AI safety’.
Oh really! Coincidence or deliberate attempt to undermine the UK AI safety drive?
This news comes as the UK draws attention hosting a UK led AI summit. The U.S. wants to police and control the AI arena too as it does most other aspects of our life.
Biden order
An executive order from President Biden requires Artificial Intelligence AI developers to share safety results with the U.S. government. It is an attempt to place the U.S, at the centre of the global debate on AI governance.
However, this is a position the UK government has already engineered as the UK AI safety summit gets underway this week. The UK desires to place itself at the centre of AI governance.
U.S. executive order
The U.S. executive order from Biden suggests the U.S. fancies itself as the leader of global AI governance in terms of how to address such threats or does it simply want to stamp its authority in the AI world. It tried to do the same with cryptocurrencies but fundamentally failed.
U.S. measures include
Creating new safety and security standards for AI, including measures that require AI companies to share safety test results with the federal government.
Protecting consumer privacy, by creating guidelines that agencies can use to evaluate privacy techniques used in AI.
Helping to stop AI algorithms discriminate and creating best practices on the appropriate role of AI in the justice system.
Creating a program to evaluate potentially harmful AI related healthcare practices and creating resources on how educators can responsibly use AI tools
Working with international partners to implement AI standards around the world.
UK AI summit
The UK summit is referenced in the executive order. But it’s mentioned under the heading of ‘advancing American leadership abroad’ – indicating that the U.S. very clearly knows that it is the big player here alongside China.
The UK is determined to position itself as a global leader in the space of trying to minimise the risks posed by this powerful technology.
However, U.S. Vice President Kamala Harris and top executives from the U.S. tech giants are arriving in the UK this week to discuss AI safety at the UK government’s AI Summit, which it has billed as a ‘world first’.
The summit, hosted by UK Prime Minister Rishi Sunak, will focus on the growing fears about the implications of so-called frontier AI. President of the EU Commission Ursula von der Leyen and UN Secretary-General Antonio Guterres will also be in attendance.
The UK is determined to position itself as a global leader in the space of trying to minimise the risks posed by this powerful technology.
But the U.S. as usual, will want to be in control…
The UK government said it intends to bring a number of crypto asset activities under the same regulations that govern banks and other financial services firms.
Regulating a broad suite of crypto activities, such as trading, lending, and custody services.
Strengthening rules for crypto trading platforms and requiring them to have admission and disclosure documents.
Introducing a crypto market abuse regime to prevent manipulation and fraud.
Enhancing oversight of stablecoins, which are digital tokens pegged to fiat currencies or other assets.
The government’s consultation paper is open for feedback until January 31, 2024.
The government said it is committed to embracing technological change and innovation, while mitigating the most significant risks posed by crypto-assets.
Apple and generative AI technology is a topic that has been generating a lot of interest and speculation lately.
According to various reports, Apple is working on developing its own large language model and chatbot, which could potentially enhance its products and services with new features and capabilities. However, some analysts and experts have also raised questions about whether Apple has missed an opportunity to be a leader in the generative AI field, as it seems to be lagging behind its competitors such as Google, Microsoft, and OpenAI.
Apple uses AI in its products but hasn’t launched a generative AI product along the lines of OpenAI’s ChatGPT or Google Bard. Instead, Apple’s AI is used for improving photos and autocorrecting text.
$1 billion per year plan
Apple is on track to spend $1 billion per year on developing its generative artificial intelligence products, Bloomberg reported.
Apple is looking to use AI to improve Siri, Messages and Apple Music.
The spending comes as the company plays catch-up to some competitors who have already debuted new AI products and features, such as Google, Microsoft and Amazon.
Apple was caught flat-footed when ChatGPT and other AI tools took the technology industry by storm.
Generative AI
Generative AI is a subfield of artificial intelligence that focuses on creating content such as text, images, videos, music, and more, based on data and algorithms. One of the most popular examples of generative AI is ChatGPT, a chatbot that can respond to questions and other prompts in a natural and human-like way.
Watercolour artwork impression – ChatGPT was released by OpenAI in 2022, and since then, it has been widely used and improved by various companies and researchers.
ChatGPT was released by OpenAI in 2022, and since then, it has been widely used and improved by various companies and researchers.
Apple slow response
Apple, on the other hand, has been relatively quiet about its generative AI efforts, until recently. In October 2023, Bloomberg reported that Apple was internally testing a ‘ChatGPT-like’ chatbot nicknamed ‘Apple GPT’, but it had not devised a clear strategy for releasing generative AI tools to the public. Apple’s CEO Tim Cook also confirmed that the company was working on generative AI for years, but it was approaching it ‘really thoughtfully and think about it deeply’ because of the potential risks and challenges.
Potential challenges Apple faces in developing and deploying generative AI
Privacy
Apple has always been more cautious than its competitors in handling user data, and it has built its reputation on being a privacy-focused company. However, generative AI requires a lot of data to train and improve its models, which could pose a dilemma for Apple. How can it balance the need for data with the respect for user privacy? How can it ensure that its generative AI does not leak or misuse personal information?
Design
Apple is known for its elegant and intuitive design philosophy, which applies to both its hardware and software products. However, generative AI is a complex and unpredictable technology, which could challenge Apple’s design principles. How can it make its generative AI features easy to use and understand for its customers? How can it avoid confusing or misleading users with its generative AI outputs?
Ethics
Apple has always been mindful of the social and ethical implications of its products, and it has often taken a stance on issues such as human rights, environmental sustainability, and diversity. However, generative AI could raise new ethical concerns, such as bias, misinformation and manipulation. But then that is a common problem for all generative AI systems.
Generative AI could raise new ethical concerns, such as bias, misinformation and manipulation.
These are some of the questions that Apple needs to answer before it can launch its generative AI products to the public. It is possible that Apple is taking its time to address these issues carefully and thoroughly, as it has done in the past with other technologies such as Face ID or Apple Pay. However, it is also possible that Apple has missed an opportunity to be a pioneer in the generative AI field, as it has done in the past with other technologies such as smart speakers or cloud computing.
While Apple is working on its generative AI projects internally, its competitors are already offering generative AI.
Google
Google has integrated its large language model LaMDA into various products and services, such as Google Assistant, Google Photos, Google Docs, Google Translate etc. LaMDA can generate natural and conversational responses to any query or prompt, as well as create images and videos based on text descriptions.
Microsoft
Microsoft has acquired OpenAI’s ChatGPT technology and made it available through its Azure cloud platform. ChatGPT can be used by developers and businesses to create chatbots, voice assistants, content generators, and more. Microsoft has also integrated ChatGPT into some of its products such as Outlook, Teams, PowerPoint, and more.
Amazon
Amazon has launched Alexa Conversations, a feature that allows Alexa users to have more natural and engaging conversations with the voice assistant. Alexa Conversations can also leverage Amazon’s vast e-commerce data to provide personalized recommendations and suggestions to users.
These are just some examples of how generative AI is being used by Apple’s competitors.
Robot chatting to human chatbot online
Apple has missed an opportunity to be a leader in the generative AI field by being too slow or too cautious in developing and deploying its own generative AI products.
However, it is highly likely that Apple is waiting for the right moment to surprise everyone with its innovative and unique generative AI features that will set it apart from its competitors.
The price of Bitcoin breached the $34,000 level to hit its highest value since May 2022, encouraged by optimism around the possibility of a Bitcoin ETF.
Bitcoin was trading at one point on Tuesday morning, 23rd October 2023 touched $34,940 before pulling back.
Bitcoin one month chart October 2023
Anticipation of a Bitcoin ETF grew after the court sided with Grayscale over the U.S. SEC in its bid to turn its huge GBTC Bitcoin fund into an ETF.
Nokia is planning to cut up to 14,000 jobs worldwide, or some16% of its workforce, as part of a cost-cutting plan following a 69% plunge in third-quarter profits.
The Finnish technology company said the planned measures are aimed at reducing its cost base by between €800 million and €1.2 billion by the end of 2026.
The cuts were announced as the company revealed a 20% drop in third-quarter sales, which fell to €4.98 billion from €6.24 billion a year earlier. The company’s biggest unit by revenue; the mobile networks business, declined 24% to €2.16 billion, driven mainly by weakness in the North American market.
Nokia’s CEO Pekka Lundmark said the company was taking decisive action on three levels: strategic, operational and cost. He also reportedly said he remained confident about the opportunities ahead of the company.
I guess there’s not much else he could have said really.
The price of Bitcoin is influenced by many factors, such as supply and demand, market sentiment, news events, regulations, and technical analysis.
One of the recent news events that affected the price of Bitcoin was the speculation about the approval of a Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC). A spot Bitcoin ETF is an exchange-traded fund (ETF) that directly holds Bitcoin and tracks its price movements.
This would allow investors to gain exposure to Bitcoin without having to buy, store, or manage it themselves. A spot Bitcoin ETF would also increase the liquidity and legitimacy of the Bitcoin market, potentially attracting more institutional and retail investors.
Waiting approval
However, the SEC has not yet approved any Bitcoin ETF applications, despite receiving several from various financial firms, such as Blackrock and Fidelity. The SEC has expressed concerns about the risks of fraud, manipulation, and volatility in the Bitcoin market.
Bitcoin one year chart October 2022 – October 2023
The SEC has only approved one Bitcoin-related ETF so far, which is the ProShares Bitcoin Strategy ETF that tracks the price of Bitcoin futures contracts, not the actual Bitcoin. Bitcoin futures contracts are agreements to buy or sell Bitcoin at a predetermined price and date in the future. They are traded on regulated exchanges.
Rumour
On 16th October, 2023, a false rumour circulated on social media that the SEC had approved a Bitcoin ETF from Blackrock, the world’s largest asset manager. This rumour caused a surge in the demand and price of Bitcoin, which briefly breached the $30,000 mark.
However, this ‘news’ was quickly corrected by both Blackrock and the SEC, and the price of Bitcoin fell back to its previous levels. The rumour may have been fueled by the anticipation and excitement in the crypto community for a spot Bitcoin ETF approval, which many analysts believe would boost the price of Bitcoin significantly.
Crypto volatility
The false rumour about the Bitcoin ETF approval was one of the major factors that contributed to the 10% climb and subsequent drop of bitcoin on the 16th October, 2023.
Be careful
The price of Bitcoin is determined by the interaction of buyers and sellers in a global and decentralized market that operates 24/7. As such, it is subject to high volatility and unpredictability.
The price of Bitcoin is determined by the interaction of buyers and sellers in a global and decentralized market that operates 24/7. As such, it is subject to high volatility and unpredictability.
Investors should always do their own research and due diligence before investing in any cryptocurrency or any financial product.
Remember to always do your ownRESEARCH!RESEARCH!RESEARCH!
Definitions
ETF – Exchange Traded Fund is a type of investment fund that can be bought or sold on a stock exchange like a regular stock. An ETF usually holds a selection of securities, such as stocks, bonds, commodities, or currencies, that track a specific index, sector, or asset class.
Bitcoin is a type of digital currency that can be used for online transactions without the need for a central authority or intermediary. Bitcoin is based on a technology called blockchain, which is a distributed ledger that records and verifies all transactions in a network of computers. Bitcoin is created and rewarded to the participants who contribute their computing power to maintain and secure the network, a process known as mining. Bitcoin has a limited supply of 21 million units, which are divided into smaller units called satoshis.
Bitcoin is based on a technology called blockchain, which is a distributed ledger that records and verifies all transactions in a network of computers.
Bitcoin was invented in 2008 by an anonymous person or group using the name Satoshi Nakamoto, who published a white paper describing the concept and design of Bitcoin.
The first Bitcoin transaction was made in 2009, when Nakamoto sent 10 bitcoins to a computer programmer named Hal Finney. Since then, Bitcoin has grown in popularity and value, attracting millions of users and investors around the world.
Securities and Exchange Commission (SEC) is a U.S. government agency that regulates the securities markets and protects investors. The SEC was established by the passage of the U.S. Securities Act of 1933 and the Securities and Exchange Act of 1934, largely in response to the stock market crash of 1929 that led to the Great Depression.
The SEC has three main objectives: to ensure full public disclosure of information, to prevent fraud and manipulation in the market, and to facilitate capital formation for economic growth.
The SEC oversees various entities and activities in the securities markets, such as securities exchanges, brokers, dealers, investment advisers, mutual funds, corporate issuers, and securities transactions. The SEC enforces the federal securities laws by requiring companies to register their securities and disclose relevant information to the public through its electronic database called EDGAR.
The SEC also investigates and prosecutes violations of the securities laws, such as insider trading, market manipulation, accounting fraud, and disclosure fraud.
The curbs are aimed at closing loopholes that became apparent after the U.S. announced export curbs on microchips in October 2022. The restrictions are designed to prevent China’s military from importing advanced semiconductors or equipment.
Nvidia has said in a filing that the new export restrictions will block sales of two high-end artificial intelligence chips it created for the Chinese market – A800 and H800. It said that one of its gaming chips will also be blocked.
Nvidia Corp one month chart – closed at 439.38 17th October 2023
Although the curbs also affect other chip makers, analysts believe Nvidia will be hit the hardest because China accounts for up to 25% of its revenues from data centre chip sales. Nvidia’s shares, which are considered a star stock, fell by as much as 4.7% in the wake of the announcement.
Semiconductor Industry Association
The Semiconductor Industry Association, which represents 99% of the U.S. semiconductor industry by revenue, said in a statement that the new measures are ‘overly broad‘ and ‘risk harmingthe U.S. semiconductor structure without advancing national security as they encourage overseas customers to source elsewhere’.
China reacts
A spokesperson for the Chinese embassy also said that it ‘firmly opposes‘ the new restrictions, which also target Iran and Russia and go into effect in 30 days.
Nvidia stock falls after restrictions on AI chip exports from U.S. to China
Two months ago, China retaliated by restricting exports of two materials, gallium and germanium, which are key to the semiconductor industry.
The materials are ‘minor metals‘, meaning that they are not usually found on their own in nature, and are often the by-product of other processes. It’s not only the U.S., Japan and the Netherlands – which is home to key chip equipment maker ASML – have also imposed chip technology export restrictions on China.
Fallout
The constant ‘fall-out’ between the world’s two biggest economies has raised concerns over the rise of so-called ‘resource nationalism‘ – a practice where governments hoard critical materials to exert influence over other countries.
Will these projects alter the world weather pattern?
According to a study, installing large-scale wind and solar farms in the Sahara desert could increase rainfall and vegetation in the region. The researchers simulated the effects of covering 20% of the Sahara with solar panels and wind turbines and found that it would trigger a feedback loop of more monsoon rain and more plant growth.
This could have benefits for the local environment and the global climate, as well as providing a huge amount of clean energy for the world.
Could it also create a detrimental effect to the ecosystem too?
10.5 GW solar energy
The desert project would produce 10.5 GW of solar power and 3 GW of wind power. However, there are also challenges and uncertainties involved, such as the cost, feasibility, and environmental impacts of such a massive undertaking.
The Sahara is a desert on the African continent. With an area of 9,200,000 square kilometres, it is the largest hot desert in the world and the third-largest desert overall, smaller only than the deserts of Antarctica and the northern Arctic.
Daily global electricity energy demand
The global electricity energy demand is the amount of electricity that the world needs in a given day. It can be calculated by multiplying the average global electricity demand in GW by 24 hours. According to the International Energy Agency (IEA), the average global electricity demand in 2020 was about 3 TW or 3 000 GW. This means that the global electricity energy demand in 2020 was about 72 000 GWh or 72 TWh per day. However, this is an average value, and the actual demand may vary depending on the season, time of day, weather, and other factors.
The researchers simulated the effects of covering 20% of the Sahara with solar panels and wind turbines and found that it would trigger a feedback loop of more monsoon rain and more plant growth.
In the Announced Pledges Scenario, renewables in electricity generation rise from 28% in 2021 to about 50% by 2030 and 80% by 2050.
Microsoft’s $69 billion revised offer to buy Call of Duty-maker Activision Blizzard has been approved by UK regulators.
The Competition and Markets Authority (CMA) said the deal addressed its concerns, after the watchdog blocked the original $69bn (£59bn) bid in April 2023. The green light marks the culmination of a near two-year fight to secure the gaming industry’s biggest-ever takeover.
CMA criticised Microsoft’s conduct.
After the competition watchdog blocked the takeover earlier this year, Microsoft’s president hit out at the CMA’s decision which it said was ‘bad for Britain’.
The CMA chief executive reportedly said: ‘Businesses and their advisors should be in no doubt that the tactics employed by Microsoft are no way to engage with the CMA. Microsoft had the chance to restructure during our initial investigation but instead continued to insist on a package of measures that we told them simply wouldn’t work. Dragging out proceedings in this way only wastes time and money’.
The CMA also said the revised deal would ‘preserve competitive prices’ in the gaming industry and provide more choice and better services.
Prior to the approval, the deal, which makes Microsoft the owner of Call of Duty, World of Warcraft, Overwatch and Candy Crush, could not be finalised globally.
Under the restructured transaction, Microsoft will not acquire cloud rights for existing Activision PC and console games, or for new games released by Activision during the next 15 years. Instead, these rights will be divested to Ubisoft Entertainment before Microsoft’s acquisition of Activision, according to the CMA.
Vice Chair and President, Brad Smith seem happy after saying it would be ‘bad for Britain.
‘We’re grateful for the CMA’s thorough review and decision today. We have now crossed the final regulatory hurdle to close this acquisition, which we believe will benefit players and the gaming industry worldwide’.
Warren Buffet is one of the most successful investors and business owners in the world, and he has shared many of his insights and wisdom on money and investing.
Bitstamp has reportedly disclosed its ongoing discussions with a number of European banks about assisting them in launching cryptocurrency services. These discussions are expected to come to fruition in early 2024.
Bitstamp’s Negotiations with Top European Banks
Bitstamp’s negotiations underscore the growing acceptance of digital assets within the European financial sector.
This news comes at a time when the European Union is actively advancing its regulatory framework for cryptocurrencies, known as Markets in Crypto Assets (MiCA).
It aims at facilitating the entry of traditional financial institutions into the digital asset space.
Cybersecurity is a very important and relevant topic in today’s world. It refers to the practice of protecting systems, networks, and programs from digital attacks that can harm individuals and organizations.
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.
Cybersecurity aims to prevent or mitigate these attacks by using various technologies, measures, and practices.
There are many types of cybersecurity, depending on the domain or layer of IT infrastructure that needs to be protected.
Critical infrastructure security
This protects the computer systems, applications, networks, data and digital assets that a society depends on for national security, economic health and public safety. For example, the power grid, the water supply, the transportation system, the health care system, etc.
In the United States, there are some guidelines and frameworks for IT providers in this area, such as the NIST cybersecurity framework and the CISA guidance.
Network security
This prevents unauthorized access to network resources and detects and stops cyberattacks and network security breaches in progress. For example, firewalls, antivirus software, encryption, VPNs, etc. Network security also ensures that authorized users have secure access to the network resources they need, when they need them.
Application security
This protects applications from cyberattacks by ensuring that they are designed, developed, tested, and maintained with security in mind. For example, code reviews, vulnerability scanning, penetration testing, secure coding practices, etc. Application security also involves educating users about safe and responsible use of applications.
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.
There are many more types of cybersecurity, such as cloud security, endpoint security, data security, identity and access management (IAM), etc. Each type of cybersecurity has its own challenges and solutions.
Companies to watch
Cybersecurity companies such as CrowdStrike, Okta, Zscaler and Palo Alto Networks are valuable assets with businesses willing to pay good money to protect against hackers.
Cryptocurrency company Ripple said on Wednesday 4th October 2023 that it has obtained a full licence to operate in Singapore, its Asia-Pacific headquarters since 2017.
‘We have hired exceptional talent and local leadership, doubling headcount over the past year and plan to continue growing our presence in a progressive jurisdiction like Singapore,‘ CEO Brad Garlinghouse said in a statement.
The new development comes less than four months after the Monetary Authority of Singapore granted an ‘initial in-principle’ approval in June 2023. With the full licence, Ripple will continue to provide regulated crypto payment services in Singapore.
Over 90% of Ripple’s business is outside of the U.S., and Singapore – and to a larger degree Asia Pacific – is one of its fastest growing region.
XRP Ripple Crypto digital coin and cross border payment system
The XRP ripple crypto coin is a digital currency that is used to facilitate fast and low-cost cross-border payments on the Ripple network.
The Ripple network is a decentralized system of servers that connects banks, payment providers, digital asset exchanges, and corporates. The XRP coin acts as a bridge currency between different fiat currencies and other digital assets.
The XRP coin has a fixed supply of 100 billion units and is distributed by Ripple Labs, the company behind the Ripple network.
According to recent news and scientific reports, Einstein was right again about how antimatter responds to gravity.
Antimatter is the opposite of ordinary matter, and it is very rare in the natural universe. Scientists have created antimatter in the laboratory and observed its behaviour under controlled conditions.
Antihydrogen Laser Physics Apparatus (ALPHA)
One of the experiments that tested Einstein’s theory of general relativity was the Antihydrogen Laser Physics Apparatus (ALPHA) at CERN in Switzerland.
The researchers used antihydrogen, which is the antimatter counterpart of hydrogen, the lightest element. They showed that antihydrogen falls downward due to gravity, just like ordinary hydrogen.
This confirms that matter and antimatter react to gravity in a similar way, as predicted by Einstein more than a hundred years ago.
These are the seven largest U.S. listed companies in the technology sector.
Apple, Microsoft, Amazon, Alphabet, Nvidia, Tesla and Meta Platforms.
According to a report released Monday 2nd October 2023, these tech’ stocks have seen their valuation drop relative to the median stock in the S&P 500, making them more attractive for investors. The report says that the Magnificent 7 trade at 1.3 times their PEG ratio (price-to-earnings-to-long-term growth), versus 1.9 for the median S&P 500 stock.
This is the cheapest valuation in over six years – time to buy yet?
The report also highlights some positive drivers for these stocks, such as their strong sales growth, their ability to beat expectations, and their resilience to rising interest rates.
However, some analysts also warn that the dominance of these stocks could pose a risk for the broader market if something bad happens to tech’.
Meta has announced a series of new chatbots to be used in its Messenger service.
Charming
The chatbots will have ‘personality’ and specialise in certain subjects, like holidays, and cooking. Let’s hope they haven’t been modelled on the company boss then.
It is the latest attempt in a chatbot ‘chat’ race between tech’ companies desperate to produce more accurate and personalised artificial intelligence. The chatbots are still a work in progress with ‘limitations’, said boss Mark Zuckerberg.
During Meta’s first in-person event since before the pandemic, Mr Zuckerberg said that it had been an ‘amazing year for AI’. The company is calling its main chatbot ‘Meta AI’ and can be used in messaging. For example, users can ask Meta AI questions in chat ‘to settle arguments’ or ask other questions.
It’s been touted as fun entertainment and not just question answering.
I wonder if these AI chatbots will be as good as the Metaverse rollout has been so far?
Zuckerberg’s ‘personality’ chatbots
Zuckerberg’s ‘personality’ chatbots are a new feature of Meta, the company formerly known as Facebook. They are artificial intelligence agents that can chat with users on Messenger, using the faces and voices of celebrities like Snoop Dogg, Kendall Jenner, and Tom Brady.
Chatbots with personality. God help us!
They are supposed to have different personalities and interests, such as sports, cooking, or music. Meta claims that they are for entertainment purposes only, and that they have limitations on what they can answer.
Critical
However, some critics have raised ethical and social concerns about these chatbots. They argue that they are creating “counterfeit people” that could deceive or manipulate users, especially young ones. They also question the consent and privacy of the celebrities whose identities are used by the chatbots. They warn that these chatbots could pose dangers to the authenticity and trustworthiness of online communication.
If you are curious about these chatbots, you can try them out on Messenger by searching for their names. But be aware that they are not real people, and that they may not give you accurate or reliable information. They are just products of Meta’s artificial intelligence technology, which is still a work in progress – a bit like the Metaverse.
Chatbot with creepy personality
All this wonderful AI tech and what do we do? Play games with it!
The Xlinks Morocco-UK Power Project is a proposal to create a large-scale renewable energy complex in Morocco and feed the electricity to the UK via a long underwater cable.
Key facts
12 million solar panels, 530 wind turbines over 62 square miles.
The project aims to produce 10.5 GW of clean power from solar and wind facilities in Morocco’s Guelmim Oued Noun region. This is equivalent to about 10% of the UK’s electricity demand.
The project also plans to build a 20 GWh/5 GW battery storage facility to ensure a stable and reliable supply of electricity.
The project will use proven high-voltage direct current (HVDC) interconnector technology to transmit the electricity to the UK via a 3,800 km route under the seabed. The cable will connect to two locations in Devon and Wales, each with a capacity of 1.8 GW.
The project will create over 11,000 new green jobs in the UK and Morocco, and contribute to their renewable industrial ambitions. It will also diversify the UK’s energy sources and reduce its dependence on EU interconnectors, LNG imports, and biomass from North America.
The project is seeking a 25-year contract with the UK government to guarantee a fixed electricity price and secure financing for the £20 billion investment.
It hopes to start construction in 2024 and deliver power to the UK by 2028.
Entirely powered by sun and wind
The Xlinks Morocco-UK Power Project will be a new electricity generation facility entirely powered by solar and wind energy combined with a battery storage facility. Located in Morocco’s renewable energy rich region of Guelmim Oued Noun, it will be connected exclusively to Great Britain via 3,800km HVDC sub-sea cables.
Zero carbon power generation
When domestic renewable energy generation in the United Kingdom drops due to low winds and short periods of sun, the project will harvest the benefits of long hours of sun in Morocco alongside the consistency of its convection Trade Winds, to provide a firm but flexible source of zero-carbon electricity.
Apple said on Saturday 30th September 2023 that it will issue a software update that would address customer complaints about the latest iPhone 15 models, released just over a week ago, running hot.
The new iPhones were running hot because of a combination of bugs in iOS 17, bugs in apps, and a temporary set-up period that requires extra processing and therefore heat generation, Apple confirmed.
Statement from Apple
‘We have identified a few conditions which can cause iPhone to run warmer than expected. The device may feel warmer during the first few days after setting up or restoring the device because of increased background activity.’
‘We have also found a bug in iOS 17 that is impacting some users and will be addressed in a software update. Another issue involves some recent updates to third-party apps that are causing them to overload the system. We’re working with these app developers on fixes that are in the process of rolling out.‘
