Lifeboat Foundation

BRUSSELS, Oct 29 (Reuters) — The Group of Seven industrial countries will on Monday agree a code of conduct for companies developing advanced artificial intelligence systems, a G7 document showed, as governments seek to mitigate the risks and potential misuse of the technology.

The voluntary code of conduct will set a landmark for how major countries govern AI, amid privacy concerns and security risks, the document seen by Reuters showed.

Leaders of the Group of Seven (G7) economies made up of Canada, France, Germany, Italy, Japan, Britain and the United States, as well as the European Union, kicked off the process in May at a ministerial forum dubbed the “Hiroshima AI process”.

The Chicago region has been named an official US Regional and Innovation Technology Hub for quantum technologies by the Biden-Harris administration, a designation that opens the door to new federal funding and recognizes the growing strength of an ecosystem poised to become the heart of the nation’s quantum economy. The Bloch Tech Hub (pronounced “block”), a coalition of industry, academic, government, and nonprofit stakeholders led by the Chicago Quantum Exchange, was one of 31 designees from nearly 400 applications across the country.

The selection, announced Monday morning by the White House and the US Department of Commerce’s Economic Development Administration (EDA), is the first phase of a federal initiative designed to “supercharge” innovation economies that have the potential to become global leaders in a critical technology within a decade. As a recipient of the US Tech Hubs designation, The Bloch is now eligible to apply for the program’s second phase, which could include millions of dollars in funding to implement the hub’s activities. It was one of two US Tech Hubs designated in Illinois, the other focused on biomanufacturing.

“Home to world-class institutions and first-rate research centers, Illinois is transforming technology, biomanufacturing, and innovation at every turn,” said Illinois Governor JB Pritzker. “I couldn’t be prouder that the Biden Administration has selected the Chicago Quantum Exchange’s The Bloch and the University of Illinois at Urbana-Champaign’s iFAB Hub as two of just 31 inaugural tech hubs — opening the door for even more investment, advancement, and discovery. There’s no doubt that the rest of the nation have caught on to our great state’s status as an innovation powerhouse — and our future couldn’t be brighter.”

From the billionaire VC’s hot takes: Slowing AI innovation will kill people, and universal basic income will turn us into zoo animals.

While the stock market may love the term “AI,” companies haven’t figured out how to optimally monetize the services that go along with it.

Where reliability matters, as it does in energy, resilience against cyberattacks enhances a company’s reputation. Disruptions damage that reputation.

In 2021, a ransomware attack shut down Colonial Pipeline operations for six days. Gas shortages in the eastern US, economic turmoil, and eye-catching headlines resulted. Interest in cybersecurity for critical infrastructure intensified — and many leaders seemed to learn the wrong lesson.

Energy sector leaders often take cyber vulnerabilities seriously only after a significant breach. Experiencing a loss (or watching someone else’s) makes companies tighten cybersecurity to avoid similar losses. This pattern emphasizes the loss-avoidance aspects of cybersecurity. Yet thinking of cybersecurity solely as loss avoidance misses a key value generator cybersecurity provides: trust.

Continue reading “Cybersecurity Builds Trust in Critical Infrastructure” »

Core inflation remains elevated in advanced economies, with economists calling for tighter monetary policies in order to improve price and financial stability for sustained economic growth. With inflation only slowly moving towards sustainable targets, investors can leverage insights into teen spending patterns, behaviors, and advancements in technology to identify broader economic and market trends.

In a recent Piper Sandler Taking Stock With Teens survey that analyzed discretionary spending patterns, fashion trends, technology, and brand and media preferences, inflation was determined to be the number two social concern among teens, pointing to initial signs of a slowdown in teen spending.

“Inflation reached its highest mindshare in terms of political and social issues, right behind the environment,” said Edward Yruma, senior research analyst.

The world’s massive human population is leveling off.

Most projections show we’ll hit peak humanity in the 21st century, as people choose to have smaller families and women gain power over their own reproduction. This is great news for the future of our species.

And yet alarms are sounding. While environmentalists have long warned of a planet with too many people, now some economists are warning of a future with too few. For example, economist Dean Spears from the University of Texas has written that an “unprecedented decline” in population will lead to a bleak future of slower economic growth and less innovation.

When working at the Millenium Project, a global think tank that publishes reports surrounding global problems, I decided to improve the way reports were presented by ranking the actions provided by the organization to adress the problem. I focused on the 23 actions in global challenge 7 (Rich-poor gap) and created a system focusing on two aspects: feasibility and impact.

Assigning scores from 1–10 for each of these aspects made sense as an action needs to be both implemented and impactful for it to adress the problem. By researching to assign these scores and multiplying them, I could get an overall idea of where an action would compare to another one. Below is a graph summarizing my results, followed by the details behind each ranking.

1. Make higher education more easily available to all.

Feasibility: 7

Rates of higher education have doubled worldwide 19 to 38 percent over the last two decades, indicating that increased access is very possible. Although the process of making education truly available will take decades, governments clearly recognize the need for it and are taking steps towards achieving it, with education becoming a larger percent of GDP for most countries.

Impact: 8

Higher education has been known to increase earnings significantly, thereby reducing poverty. Additionally, education has been known to have various benefits towards poverty like reducing food insecurity and standards of health.

As we plunge head-on into the game-changing dynamic of general artificial intelligence, observers are weighing in on just how huge an impact it will have on global societies. Will it drive explosive economic growth as some economists project, or are such claims unrealistically optimistic?

Few question the potential for change that AI presents. But in a world of litigation, privacy concerns and ethical boundaries, will AI be able to thrive?

Two researchers from Epoch, a research group evaluating the progression of artificial intelligence and its potential impacts, decided to explore arguments for and against the likelihood that innovation ushered in by AI will lead to explosive growth comparable to the Industrial Revolution of the 18th and 19th centuries.