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Archive for the ‘economics’ category: Page 15

Sep 9, 2021

Department of Commerce establishes National Artificial Intelligence Advisory Committee

Posted by in categories: economics, government, law enforcement, policy, robotics/AI

US Secretary of Commerce Gina Raimondo has announced that the Commerce Department has established a high-level committee to advise the President and other federal agencies on a range of issues related to artificial intelligence (AI). Working with the National AI Initiative Office (NAIIO) in the White House Office of Science and Technology Policy (OSTP), the Department is now seeking to recruit top-level candidates to serve on the committee.

A formal notice describing the National Artificial Intelligence Advisory Committee (NAIAC) and the call for nominations for the committee and its Subcommittee on Artificial Intelligence and Law Enforcement appears in the Federal Register published today.

“AI presents an enormous opportunity to tackle the biggest issues of our time, strengthen our technological competitiveness, and be an engine for growth in nearly every sector of the economy,” said Secretary Raimondo. “But we must be thoughtful, creative, and wise in how we address the challenges that accompany these new technologies. That includes, but is not limited to, ensuring that President Biden’s comprehensive commitment to advancing equity and racial justice extends to our development and use of AI technology. This committee will help the federal government to do that by providing insights into a full range of issues raised by AI.”

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Sep 9, 2021

Mastercard makes a big bet on crypto, buying blockchain analytics start-up CipherTrace

Posted by in categories: bitcoin, business, cryptocurrencies, economics, law enforcement

Mastercard has agreed to acquire blockchain analytics start-up CipherTrace, in the latest sign of how major companies are warming to cryptocurrencies.

The payments giant said Thursday it entered into an agreement to buy CipherTrace for an undisclosed amount. Based in Menlo Park, California, CipherTrace develops tools that help businesses and law enforcement root out illicit digital currency transactions. The company’s competitors include New York-based Chainalysis and London start-up Elliptic.

“Digital assets have the potential to reimagine commerce, from everyday acts like paying and getting paid to transforming economies, making them more inclusive and efficient,” Ajay Bhalla, president of cyber and intelligence at Mastercard, said in a statement. “With the rapid growth of the digital asset ecosystem comes the need to ensure it is trusted and safe.”

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Sep 3, 2021

IT’S HAPPENING! Elon Musk is Fearful about China And Here’s Why

Posted by in categories: economics, Elon Musk, military

Elon Musk is fearful about the competition between China and the USA in terms of the military, economy and car industry. China is already far ahead of USA economy and car industry!

Sep 3, 2021

NEOM: City Of The Future or $600 Billion Stunt? | Answers With Joe

Posted by in categories: economics, internet, sustainability

Video on Neom, the future city.


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NEOM is Saudi Arabia’s tentpole project in their Vision2030initiative to help move the Kingdom away from an oil-based economy and rely more on technology and tourism. It has some ambitious goals, like being 100% sustainable, moving all transport underground, and even glowing beaches. But the most noticeable thing about the project is the fact that the city will lie on a 100-mile line serviced by a hyperloop-style high speed train system.

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Sep 1, 2021

Why Bill Gates Is Buying Up U.S. Farmland

Posted by in categories: economics, food, sustainability

Bill Gates made headlines for becoming the largest private farmland owner in the U.S. But he’s not the only one. Some of the wealthiest landowners including Jeff Bezos, John Malone and Thomas Peterffy are buying up forests, ranches and farmlands across the United States. Why? Watch the video to find out.

Investments in farmland are growing across the country as people, including the ultra-wealthy like Bill Gates, look for new ways to grow their money.

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Aug 31, 2021

NuScale modular nuclear reactors can produce over 2,000 kg/hour of hydrogen

Posted by in categories: economics, nuclear energy

NuScale Power, the startup specializing in the design of small modular nuclear reactors, has published new data concerning the production capacities of its NuScale Power Module (NPM). Thanks to the 25% increase in power output of an NPM, each NuScale module is now capable of producing 2,053 kg/hour of hydrogen, or nearly 50 metric tons per day.

Just one NuScale Power Module can produce 77 MWe of carbon-free electricity to power 60,000 homes in the U.S. NuScale’s flagship power plant design can house up to 12 modules for a total gross output of 924 MWe. The 924 MWe that a 12-module NuScale plant produces is enough to power nearly 700,000 homes with clean, reliable energy.

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Aug 28, 2021

Tech-payment giants and central bank digital currencies are revolutionising how people use money—

Posted by in categories: business, cryptocurrencies, economics, finance

And threatening to put traditional banks out of business. What would a world without banks look like, and would you even miss them? https://econ.st/3s76sYS

Aug 28, 2021

UIH Trains 40 Aspiring Developers

Posted by in categories: economics, internet, robotics/AI, virtual reality

Towards raising young developers across the Urhobo Nation, the Urhobo Innovation Hub has completed the training of 40 youths on Website design, Internet of Things (IOT), Robotics and Virtual Reality.

The boot camp training, which drew its participants from Urhobo youths within the age bracket of 13–38 years old, held at the Michael and Cecilia Ibru University, Agbaro-Otor, Delta State.

The Hub is a brainchild of the Urhobo Economic and Investment Summit (Ekpobaro) and was initiated to raise young entrepreneurs of Urhobo extraction who will key into the reality of the new normal and raise seasoned developers to make Urhobo Nation proud.

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Aug 24, 2021

Meet the wealthy Indonesian scions giving the country a tech boost

Posted by in categories: economics, finance

Michael is also part of a group of wealthy Indonesian scions that have in the past decade dabbled in the country’s vibrant tech sector by investing in home-grown giants and start-ups, be it in the form of money, resources, know-how, or access.


Industry stakeholders say family-owned corporate venture capital firms have played an important role in growing the country’s US$44 billion digital economy.

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Aug 23, 2021

Europe trails behind US, China in AI research & development | DW Business

Posted by in categories: business, economics, employment, robotics/AI, sustainability, transportation

From voice-controlled personal assistants to smart robots on factory floors, Artificial Intelligence is having a profound effect on our lives. No surprise then that countries all over the world are trying to stay ahead of the curve. But when it comes to investment, who’s putting their money where their mouth is?
Looking at private funding, the United States leads the way — with well over 23 billion dollars going into the sector last year.
Coming in second is China, with almost 10 billion dollars. That said, Chinese state investment is particularly significant.
And the European Union falls far behind, with investment of just over 2 billion dollars.
So why is the EU lagging? And does Germany — its largest economy — have any plans to play catch-up? An example of AI in action can be found at a Rolls Royce control room just outside Berlin.
Robots destroy jobs and artificial intelligence will soon make us all superfluous. We’ve all seen headlines like that. But the reality of the situation looks a little different. Artificial intelligence is nothing more than a system that processes large amounts of data and makes predictions about the future based on that data. Engine manufacturer Rolls Royce has been a fan of AI for a long time.
Even in emergencies, it keeps its cool. In the control room at Rolls Royce just south of Berlin, safety engineers monitor more than 9,000 airplane engines worldwide. Long before the owners of the commercial jets would even notice a defect, the systems here sound the alarm. Artificial intelligence at work.
The systems are fed massive amounts of data. Then the owners of the aircraft are informed. The plane can then be taken in for maintenance long before the problem becomes expensive or life-threatening.
In the adjacent building, engines are assembled. Many parts are custom-made, previously developed by the design engineers, who also use artificial intelligence. For example, how would it affect the engine if certain components are changed? AI helps to find the best method.
The Center for Artificial Intelligence opened at the Dahlewitz site near Berlin in 2019. People here aren’t afraid that artificial intelligence will take their jobs.
In fact, the mechanics will probably have to install even more sensors and cables in the future. After all, in about five years’ time, the plan is for the aircraft to fly here with hybrid drive systems — based on sustainable fuel and electricity.

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