Archive for the ‘finance’ category: Page 21

Mar 15, 2023

Morgan Stanley is testing an OpenAI-powered chatbot for its 16,000 financial advisors

Posted by in categories: finance, robotics/AI

The bank has been testing the artificial intelligence tool with 300 advisors and plans to roll it out widely in the coming months, according to Jeff McMillan, head of analytics, data and innovation at the firm’s wealth management division.

Morgan Stanley’s move is one of the first announcements by a financial incumbent after the success of OpenAI’s ChatGPT, which went viral late last year by generating human-sounding responses to questions. The bank is a juggernaut in wealth management with more than $4.2 trillion in client assets. The promise and perils of artificial intelligence have been written about for years, but seemingly only after ChatGPT did mainstream users understand the ramifications of the technology.

The idea behind the tool, which has been in development for the past year, is to help the bank’s 16,000 or so advisors tap the bank’s enormous repository of research and data, said McMillan.

Mar 14, 2023

BuzzFeed says most of cash and cash equivalents held at SVB

Posted by in category: finance

March 13 (Reuters) — BuzzFeed Inc (BZFD.O) said on Monday that most of its cash and cash equivalents were held at Silicon Valley Bank (SIVB.O), which was shut down last week.

The digital media firm said it had about $56 million in cash and cash equivalents at the end of 2022.

Startup-focused lender SVB Financial Group last week became the largest bank to fail since the 2008 financial crisis, sending shockwaves through the global financial system and prompting regulators to step in to contain the fallout.

Mar 13, 2023

Starlink faces competition, OneWeb one launch away from global internet

Posted by in categories: biotech/medical, Elon Musk, finance, internet, satellites

The firm faced financial collapse during the pandemic but is now serving customers in 15 countries.

U.K.-based OneWeb is one launch away from having enough satellites in orbit to cover the entire expanse of the Earth. Once ready, Elon Musk’s Starlink won’t be the only company offering such as service, the BBC

Continue reading “Starlink faces competition, OneWeb one launch away from global internet” »

Mar 13, 2023

In defense of space colonies and mining the high frontier

Posted by in categories: energy, finance, internet, satellites, sustainability

Exploiting the natural and energy resources of the moon and asteroids can spark a space-based industrial revolution that could be a boon to all humankind. Pure science alone will be enough reason for the people who pay the bills to finance space exploration. Accessing the wealth that exists beyond the Earth is more than enough incentive for both public and private investment. Science will benefit. Someone will have to prospect for natural and energy resources in space and to develop safe and sustainable ways to exploit it.

Conflict between scientists and commercial space is already happening. Astronomers complain that SpaceX’s Starlink satellite internet constellation is ruining ground-based observation. Some critics fear that commercial exploitation of the moon’s resources will impede the operation of telescopes on the far side of the moon.

Mar 12, 2023

Retro Bio’s $180m backer finally revealed

Posted by in categories: biotech/medical, finance, life extension, nuclear energy, robotics/AI

Retro Biosciences’ mysterious backer has finally been revealed!

In 2021 the longevity industry received one of its largest investments to date, with a $180m investment being made into the pharmaceutical start known as Retro Biosciences, or Retro Bio for short. Not only was this investment cause for celebration within the field of regenerative medicine, but it also came with a tantalising mystery, as the backer, or indeed backer, did not make themselves publicly known. It was assumed that due to the secrecy involved, it was likely that this investment had come from a small number of individuals, potentially just a single backer. This mystery backer, combined with the notable capital investment, led to much media attention at the time, and has since garnered a significant amount of interest in Retro Bio from both the general public and future potential financial backers. That was until last week, when the mystery backer finally decided that now was the right time to reveal their identity to the general public.

In an interview with MIT Technology review, American entrepreneur Sam Altman revealed that he was the sole backer for the pharmaceutical start-up, who single handily provided the entire $180m investment. Sam Altman, who primarily made his fortune in the tech industry (specifically through social media companies such as Loopt) has become somewhat of an angel investor for a slew of world changing, innovative companies which are involved in everything from artificial intelligence to nuclear energy. It is hoped that this significant single investment marks the beginning of a longevity tech boom, similar to what was seen during the dot-com boom (but hopefully without the disastrous ending).

Mar 11, 2023

I am open to buying collapsed Silicon Valley Bank, says Elon Musk

Posted by in categories: Elon Musk, finance

Topics Elon Musk | Twitter | Digital banking.

Min-Liang Tan, co-founder and CEO of Razer (a consumer electronic company), tweeted: “I think Twitter should buy SVB and become a digital bank”. To which Musk replied: “I’m open to the idea”.

Mar 11, 2023

Fall of Silicon Valley Bank: US’s worst banking disaster since 2008

Posted by in category: finance

The greatest banking collapse in the United States since the 2008 financial crisis and the second-largest ever saw regulators close Silicon Valley Bank (SVB) on Friday and take its deposits.

Mar 10, 2023

Bank of America Obsessed With AI, Says It’s the “New Electricity”

Posted by in categories: finance, internet, robotics/AI

The financial industry’s response to artificial intelligence has been all over the place. Now, Bank of America is weighing in very much on the side of the bots.

In a note to clients viewed by CNBC and other outlets, BofA equity strategist Haim Israel boasted that AI was one of its top trends to watch — and invest in — for the year, and used all kinds of hypey language to convince its clients.

“We are at a defining moment — like the internet in the ’90s — where Artificial Intelligence (AI) is moving towards mass adoption,” the client note reads, “with large language models like ChatGPT finally enabling us to fully capitalize on the data revolution.”

Mar 5, 2023

The Neuroscience of Creativity, Perception, and Confirmation Bias | Beau Lotto | Big Think

Posted by in categories: biological, computing, education, finance, neuroscience

The Neuroscience of Creativity, Perception, and Confirmation Bias.
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To ensure your survival, your brain evolved to avoid one thing: uncertainty. As neuroscientist Beau Lotto points out, if your ancestors wondered for too long whether that noise was a predator or not, you wouldn’t be here right now. Our brains are geared to make fast assumptions, and questioning them in many cases quite literally equates to death. No wonder we’re so hardwired for confirmation bias. No wonder we’d rather stick to the status quo than risk the uncertainty of a better political model, a fairer financial system, or a healthier relationship pattern. But here’s the catch: as our brains evolved toward certainty, we simultaneously evolved away from creativity—that’s no coincidence; creativity starts with a question, with uncertainty, not with a cut and dried answer. To be creative, we have to unlearn millions of years of evolution. Creativity asks us to do that which is hardest: to question our assumptions, to doubt what we believe to be true. That is the only way to see differently. And if you think creativity is a chaotic and wild force, think again, says Beau Lotto. It just looks that way from the outside. The brain cannot make great leaps, it can only move linearly through mental possibilities. When a creative person forges a connection between two things that are, to your mind, so far apart, that’s a case of high-level logic. They have moved through steps that are invisible to you, perhaps because they are more open-minded and well-practiced in questioning their assumptions. Creativity, it seems, is another (highly sophisticated) form of logic. Beau Lotto is the author of Deviate: The Science of Seeing Differently.

Continue reading “The Neuroscience of Creativity, Perception, and Confirmation Bias | Beau Lotto | Big Think” »

Mar 4, 2023

Figure promises the first commercially viable general-purpose humanoid robot

Posted by in categories: biotech/medical, finance, robotics/AI

Artificial Intelligence (AI) is unarguably the most exciting field in robotics. And humanoid robots, robots resembling the human body in shape, are one of the most popular forms of AI. However, a lot of work, finances, and research are put into making these humanoid robots.

The field is already crowded with a number of companies with interesting projects, such as Boston Dynamics’ Atlas robot and Tesla’s much-hyped Optimus prototype designed to be “general purpose.”

This week, an AI Robotics startup, Figure, has unveiled Figure 1, the world’s first commercially viable general-purpose humanoid robot. The company says this humanoid will have the ability to think, learn, and interact with its environment.

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