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Is the Fed ready for an AI economy?

Livemint

Livemint · 1m ago

Is the Fed ready for an AI economy?

The article discusses the potential impact of artificial intelligence (AI) on the economy, focusing on the Federal Reserve's preparedness for an AI-driven financial landscape. AI could potentially influence the money supply by enabling computers to handle tasks traditionally done by humans, such as approving loans. The Federal Reserve is wary of AI's effects on productivity, banking services, and employment but may underestimate AI's power to independently generate money and credit.

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Italian state lender to invest 1 billion euros in 5 years in AI

Economic Times

Economic Times · 1y ago

Italian state lender to invest 1 billion euros in 5 years in AI

The venture capital arm of Italy's Cassa Depositi e Prestiti (CDP) plans to invest 1 billion euros ($1.1 billion) over the next five years in artificial intelligence (AI) and cybersecurity. The investment fund aims to support startups in the AI sector and provide funding for companies ready to expand internationally. Additionally, a portion of the investment will be dedicated to technological transfer and university research projects. The initiative is part of Italy's broader push to address the impact of AI on jobs and inequality, and restore its leading role in the international economy.

CCI will focus on boosting enforcement, leveraging tech for fair competition: Chairperson Kaur

Economic Times

Economic Times · 7m ago

CCI will focus on boosting enforcement, leveraging tech for fair competition: Chairperson Kaur

The Competition Commission of India (CCI) aims to enhance enforcement, foster collaborations, and utilize technology to maintain fair competition, according to its chairperson, Ravneet Kaur. Amidst the evolving digital economy, the CCI is focusing on a nimble regulatory approach to tackle emerging market challenges, especially in tech-driven sectors. Efforts include recruiting experts in AI, data analytics, and digital markets to stay future-ready, while conducting studies on competition issues in AI and renewable energy across BRICS nations.

Unauthorized “David Attenborough” AI clone narrates developer’s life, goes viral

Arstechnica

Arstechnica · 1y ago

Unauthorized “David Attenborough” AI clone narrates developer’s life, goes viral

Replicate developer Charlie Holtz combined GPT-4 Vision and ElevenLabs voice cloning technology to create an unauthorized AI version of David Attenborough narrating Holtz's actions on camera. A Python script called "narrator" takes Holtz's webcam photos every five seconds and feeds them to GPT-4V, which generates text in Attenborough's style. This text is then fed into an ElevenLabs AI voice profile trained on Attenborough's speech. The demo video has gained popularity, although voice cloning technology raises ethical and legal concerns.

Fed’s Favored Price Gauge Seen Substantiating Rate Cut

Livemint

Livemint · 10m ago

Fed’s Favored Price Gauge Seen Substantiating Rate Cut

The Federal Reserve's price index and consumer demand are expected to support the central bank's interest rate cut as well as Chair Jerome Powell's belief in a strong economy. Economists predict that the personal consumption expenditures price index will rise by only 0.1% in August, reflecting a slowdown in inflation compared to the previous year. The decrease in inflation pressures has given the Fed confidence to lower rates. Other economic data to watch includes GDP, jobless claims, and durable goods orders. In Canada, GDP data for July and August is expected to show weak growth.

iPhone 16 launch date revealed via new leaked poster

Livemint

Livemint · 11m ago

iPhone 16 launch date revealed via new leaked poster

Apple is rumored to be launching the iPhone 16 next month, with a leaked poster suggesting a launch event on September 10 at Apple Park. The poster features the words "Ready. Set. Capture" alongside an invitation to join the event at Steve Jobs Theatre. Additionally, reports indicate that Apple may also release AirPods 4 at the same event, with two variants, one featuring active noise cancellation. However, it is expected that some popular AI features may not be ready for the September launch and will be included in a later software update.

What global central banks are signalling about the road ahead

Livemint

Livemint · 1m ago

What global central banks are signalling about the road ahead

Global central banks, including the US Federal Reserve, gave significant signals affecting macroeconomic conditions. The Fed maintained interest rates at 4.25–4.5%, indicating possible reductions by 2025. The Bank of England held steady, while Japan hinted at future rate hikes. Concerns involve rising inflation, global tariff tensions, and geopolitical conflicts impacting energy prices. In contrast, India's RBI cut rates, acknowledging the fragile global economy, with US-India trade relations being closely monitored for future domestic market impacts.

Intel — the age of the AI PC is here, and it's going to change how you work forever

Techradar

Techradar · 1y ago

Intel — the age of the AI PC is here, and it's going to change how you work forever

The concept of AI PCs, powered by artificial intelligence, is gaining popularity among hardware manufacturers. Intel is at the forefront of this movement with its new vPro platform, designed for next-gen AI-powered devices. The company believes that AI has the potential to transform business productivity, security, and content creation. With Microsoft's push towards AI through initiatives like OpenAI and Copilot, having an AI-ready PC is becoming essential. Intel aims to provide AI experiences to businesses, focusing on productivity, security, manageability, and stability. This transition is crucial as Windows 10 support ends in 2025.

Desert Venture acquires Saudi-based entertainment firm

VCCircle

VCCircle · 1y ago

Desert Venture acquires Saudi-based entertainment firm

Saudi Arabian company, Desert Venture, has acquired entertainment business SEVEN in an effort to speed up the development of the Qiddiya sports and entertainment complex near Riyadh. The acquisition aims to capitalize on synergies between the two companies and ensure that Qiddiya's top projects, including a World Cup-ready stadium, are completed on time. This move comes as Saudi Arabia seeks to diversify its economy and develop its entertainment and tourism industry under the Vision 2030 program. Deadline pressure is mounting as the country prepares to host major events including the World Cup in 2034.

Meta is developing a new, more powerful AI system

Economic Times

Economic Times · 1y ago

Meta is developing a new, more powerful AI system

Meta Platforms, the parent company of Facebook, is reportedly working on a powerful artificial intelligence (AI) system to rival OpenAI's advanced models. This new AI model, expected to be ready next year, aims to surpass Meta's commercial version called Llama 2, which is an open-source AI language model. The system could help other companies develop advanced text generation, analysis, and other AI-driven services. Meta intends to begin training this new AI system, referred to as a large language model, in early 2024. Apple is also reported to be working on similar AI offerings.

iPhone 16 set to launch in September, AI features may rollout later in the year

Livemint

Livemint · 1y ago

iPhone 16 set to launch in September, AI features may rollout later in the year

Apple may not wait for its new AI software features to be ready before launching the iPhone 16 series. Bloomberg's Mark Gurman suggests that these features may arrive in later updates in October. The iPhone 16 series is expected to launch on September 10, alongside its predecessor. The new AI features in iOS 18.1, including Siri's contextual awareness and advanced writing tools, will be ready for rollout around October. However, larger upgrades such as ChatGPT integration and Genmoji may be delayed until later this year or next year.

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