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Threat of AI share crash puts world financial stability at risk, says IMF
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Threat of AI share crash puts world financial stability at risk, says IMF

The threat of an AI share price crash rippling out across global markets is putting world financial stability at risk, the International Monetary fund has warned. In its twice-yearly Global Financial Stability Report, the IMF highlighted the sky-high valuations for AI companies along with their increasing debt pile as one reason that risks in the system are “elevated”. “The consequences of an AI correction could be global,” it warned. Aside from the US, Asian markets would be most exposed, and the UK and euro ar…

The Guardian
The GenAI is out of the bottle: generative artificial intelligence from a business model innovation perspective
Evidence-backed gain

The GenAI is out of the bottle: generative artificial intelligence from a business model innovation perspective

Abstract The introduction of ChatGPT in November 2022 by OpenAI has stimulated substantial discourse on the implementation of artificial intelligence (AI) in various domains such as academia, business, and society at large. Although AI has been utilized in numerous areas for several years, the emergence of generative AI (GAI) applications such as ChatGPT, Jasper, or DALL-E are considered a breakthrough for the acceleration of AI technology due to their ease of use, intuitive interface, and performance. With GAI,…

Business

OpenAI’s Altman and Anthropic’s Amodei address UN security council

Sam Altman of OpenAI and Dario Amodei of Anthropic, heads of two of the world’s largest artificial intelligence companies, addressed the United Nations security council on Wednesday in separate briefings on AI safety. “We have a choice in front of us,” Altman told the council. “AI can either be more like a new renaissance of creativity and discovery, or more like a new industrial revolution of upheaval and disarray.” Altman and Amodei spoke as their companies face increasing scrutiny over the safety of their pro…

OpenAI’s Altman and Anthropic’s Amodei address UN security council
Business

More Australians will be dying than being born in 40 years as major report predicts future of lower growth

There will be more Australians dying than being born in 40 years’ time, according to the government’s latest intergenerational report, which lays bare the fundamental challenges of managing an ageing population at a time of rapid change and lower economic growth. The country’s seventh IGR also outlines how Australia is at the cusp of a new and uncertain age of artificial intelligence that will shape the economy and society over the coming four decades. Jim Chalmers, in a speech at the Australian National Univers…

More Australians will be dying than being born in 40 years as major report predicts future of lower growth
Business

AI slowdown calls justified but collapse of bubble may be more immediate threat | Heather Stewart

Warnings about powerful and uncontrolled AI have dominated the headlines this past week. But even amid the omens of apocalypse, it is still worth asking if the entire AI-industrial complex is sailing towards a financial iceberg. It will hardly be our most pressing concern if the bots are poised to take over the world, but a collapse of the AI bubble would have repercussions far beyond the US. AI bosses have united in recent days to warn us the immensely powerful product they have sunk billions into creating may…

AI slowdown calls justified but collapse of bubble may be more immediate threat | Heather Stewart
Business

Cohere, Aleph Alpha combine to target enterprise AI market

The combined business will operate as Cohere, with dual headquarters in Toronto and Berlin, while Aleph Alpha's Heidelberg office will focus on research. Aleph Alpha co-chief Ilhan Scheer will become chief operating officer of Cohere.

Cohere, Aleph Alpha combine to target enterprise AI market
Business

Insurance claim level estimation and influencing factor analysis for electric vehicles: A case study in Changsha city

Objectives Claim amount levels reflect severity risk and facilitates risk estimation in insurance practice. This study supports risk management in electric-vehicle traffic insurance by establishing an effective classification framework for claim levels. Methods The Synthetic Minority Over-Sampling Technique (SMOTE) is applied to balance the distribution of claim amount levels in traffic insurance. This study applies six distinct models-Decision Tree, Random Forest, CatBoost, Support Vector Machine (SVM), Multila…

Insurance claim level estimation and influencing factor analysis for electric vehicles: A case study in Changsha city
Business

Artificial intelligence ‐ driven sustainable development: Examining organizational, technical, and processing approaches to achieving global goals

Abstract This study presents a comprehensive literature review using a systematic approach to explore the role of artificial intelligence (AI) in promoting sustainable development in line with the United Nations Sustainable Development Goals (SDGs). The systematic review approach was applied to collect and analyze topics, and the literature search was conducted in two stages, encompassing 57 articles that met the research requirements. Our analysis reveals that AI's contribution to sustainability is concentrated…

Artificial intelligence ‐ driven sustainable development: Examining organizational, technical, and processing approaches to achieving global goals
Business

AI-linked stocks slide after tech bosses call for slowdown in ‘reckless’ development

AI-linked stocks tumbled on Monday after the bosses of Anthropic, OpenAI and SpaceX called for a slowdown in AI “reckless” development, citing fears the technology could soon run out of control. Shares in the semiconductor designer Nvidia – the world’s most valuable company – were down 3.3% by market closing in New York City, while Advanced Micro Devices (AMD) slid 4% and Micron Technology and Sandisk shares slumped by 5%. The tech-heavy Nasdaq index fund was down 0.5% by the end of the day. The sell-off came af…

AI-linked stocks slide after tech bosses call for slowdown in ‘reckless’ development