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Archive for the ‘economics’ category

Nov 11, 2019

AI and automation will disrupt our world — but only Andrew Yang is warning about it

Posted by in categories: economics, education, employment, robotics/AI

Disruption of the job market and the economy from automation and the rise of artificial intelligence (AI) is one of the primary ideas animating Andrew Yang’s surprising campaign for the Democratic presidential nomination. Alone among the candidates, Yang is directly engaging with one of the central forces that will shape our futures.


A recent report from the consulting firm Deloitte found that, among more than a thousand surveyed American executives, 63 percent agreed with the statement that “to cut costs, my company wants to automate as many jobs as possible using AI,” and 36 percent already believe that job losses from AI-enabled automation should be viewed as an ethical issue. In other words, while media pundits dismiss worries about automation, executives at America’s largest companies are actively planning for it.

It may seem odd to worry about AI and automation at a time when the headline unemployment rate is below 4 percent. But it is important to remember that this metric only captures people who are actively seeking work. Consider that, in 1965, only 3 percent of American men between the ages of 25 and 54 — old enough to have completed education but too young to retire — were neither working nor actively looking for employment. Today, that number is about 11 percent.

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Nov 9, 2019

African AI Experts Get Excluded From a Conference—Again

Posted by in categories: business, economics, robotics/AI

Ironically #AI has been proven to develop racial and gender bias. Gee, I wonder why?

For the second year in a row, more than a dozen AI researchers from African countries have been denied visas to a major AI conference in Canada.


Canada’s decision to refuse visas to African AI researchers seems ham-fisted, given that the country’s tech industry has been the beneficiary, in recent years, of America’s move toward isolationism. In 2017, Trudeau launched a visa program designed to attract high-tech workers—including those who found themselves unable to get into the US—by streamlining Canada’s visa-approval process. The recent decision to block access to NeurIPS for a diverse pool of talent appears to be a step in the opposite direction.

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Nov 6, 2019

China mulls $10 trillion Earth-moon economic zone

Posted by in categories: economics, transportation

China is mulling of establishing an Earth-moon space economic zone by 2050, with insiders expecting the zone to generate $10 trillion a year.

Bao Weimin, director of the Science and Technology Commission of the China Aerospace Science and Technology Corporation, revealed the ambitious plan at a seminar on space economy on Wednesday, media reported Friday.

In a report on developing earth and moon space, Bao shared his thoughts on the huge economic potential in this field and pledged that the country would study its reliability, cost and flight-style transportation system between the Earth and moon, The Science and Technology Daily reported Friday.

Nov 3, 2019

How we’ll get to Mars — what’s the biggest challenge, money or technology?

Posted by in categories: biotech/medical, economics, habitats, health, nuclear energy, space travel

“There are a number of critical technologies that have to be assessed and tested before we go to Mars,” he told Quirks & Quarks host Bob McDonald.

His short-list includes reusable landers, new space suits, mining gear, water and fuel production plants and safe nuclear power sources that could be used to power habitats and equipment on the red planet.

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Oct 28, 2019

Genetic testing

Posted by in categories: economics, genetics

The low cost of genetic testing has prompted a slew of Chinese companies, including 23Mofang and Shenzhen-based WeGene, to enter the market and tap growing demand in the world’s second largest economy, which is expected to reach US$4.3 billion by 2023. Compared to the US, China remains a fairly nascent market for direct-to-consumer genetic testing.


The low cost of direct-to-consumer genetic testing has prompted a slew of Chinese companies to enter the domestic market, which is expected to reach US$4.3 billion by 2023.

Oct 25, 2019

DARPA Grand Challenge Finale Reveals Which AI-Managed Radio System Shares Spectrum Best

Posted by in categories: economics, robotics/AI

(Vanderbilt University, University of Szeged, Budapest University of Technology and Economics)—Team leveraging their radio expertise to create AI “advisors” that shift their radio systems’ strategies on the fly.

Oct 25, 2019

Future Consequences of Cryptocurrency Use: Systemic Investigation of Two Scenarios

Posted by in categories: bitcoin, business, complex systems, counterterrorism, cryptocurrencies, cybercrime/malcode, disruptive technology, economics, education, employment, encryption, finance, futurism, governance, government, hacking, innovation, law enforcement, open access, policy, privacy, security, strategy, terrorism

We face complexity, ambiguity, and uncertainty about the future consequences of cryptocurrency use. There are doubts about the positive and negative impacts of the use of cryptocurrencies in the financial systems. In order to address better and deeper the contradictions and the consequences of the use of cryptocurrencies and also informing the key stakeholders about known and unknown emerging issues in new payment systems, we apply two helpful futures studies tools known as the “Future Wheel”, to identify the key factors, and “System Dynamics Conceptual Mapping”, to understand the relationships among such factors. Two key scenarios will be addressed. In on them, systemic feedback loops might be identified such as a) terrorism, the Achilles’ heel of the cryptocurrencies, b) hackers, the barrier against development, and c) information technology security professionals, a gap in the future job market. Also, in the other scenario, systemic feedback loops might be identified such as a) acceleration of technological entrepreneurship enabled by new payment systems, b) decentralization of financial ecosystem with some friction against it, c) blockchain and shift of banking business model, d) easy international payments triggering structural reforms, and e) the decline of the US and the end of dollar dominance in the global economy. In addition to the feedback loops, we can also identify chained links of consequences that impact productivity and economic growth on the one hand, and shift of energy sources and consumption on the other hand.

Watch the full length presentation at Victor V. Motti YouTube Channel

Oct 16, 2019

This Malware Makes ATMs Spit Out All Their Money

Posted by in categories: cybercrime/malcode, economics, finance, law enforcement

Hackers equipped with black market software are targeting cash machines with dated software and substandard security and walking away with millions over the course of a series of attacks, according to a collaborative investigation by Motherboard and German newsroom Bayerischer Rundfunk. Though law enforcement agencies are tightlipped about the trend, it’s a sign that banks may be surprisingly vulnerable to cybercrime.


Other sources, granted anonymity by Motherboard, described the same trend: “There are attacks happening, but a lot of the time it’s not publicized,” said one.

Plug-And-Play

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Oct 16, 2019

Data — from objects to assets

Posted by in category: economics

Over the past 150 years, ideas have shifted drastically as to what counts as data, which data are reliable and who owns them. Once regarded as stable objects whose significance was determined by a handful of professional interpreters, data are now reusable goods. Their mettle depends on the extent to which they are mobilized across contexts and aggregated with others. Growing in volume, variety and value, data have come to drive the very process of discovery.


How did data get so big? Through political, social and economic interests, shows Sabina Leonelli, in the fourth essay on how the past 150 years have shaped the science system, marking Nature’s anniversary. How did data get so big? Through political, social and economic interests, shows Sabina Leonelli.

Oct 15, 2019

The Transhuman Condition of “FOMO” — The Fear of Missing Out

Posted by in categories: biotech/medical, economics, transhumanism

As noted by Dan Ariely, who is a professor of psychology and behavioral economics at Duke University, this “worry that tugs at the corners of our minds is set off by the fear of regret…that we’ve made the wrong decision about how to spend our time.”

Why do such fears rule our day? Perhaps due to the fact that our lives are severely limited, and thus our experiences are confined by an hourglass. Would we reminisce of our past decisions so often if life weren’t so short?


FOMO — the Fear of Missing Out — has been an anxiety of ours since birth. Will our future endeavors provide us a cure or will we continue living and expiring with this constant psychological state?

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