OpenAI has launched an app giving users access to its AI-powered ChatGPT bot on the go. At launch, the app was only available in the US and on Apple iOS devices, but the firm said a global release and an Android version are coming soon. ChatGPT is aimed at programming use or to power other systems that require language capabilities but could be adopted more widely as it lets users quickly and easily query the AI. The ChatGPT app requires users to sign in with an OpenAI account and has no ads.
OpenAI has launched an app for iOS devices that provides access to its ChatGPT chatbot platform. While the platform has found widespread usage in programming and other systems requiring language capabilities, the app brings ChatGPT to a consumer audience. Although nothing new is added, the software makes ChatGPT more accessible, opens up mobile-specific features, like widgets, and synchronises chat histories across various devices. ChatGPT is available for free, like the app, but paying subscribers receive faster response times and priority access to newer model features. Chatbots are typically good for three things: answering queries that are otherwise awkward to Google; creating explanations or summaries that might require multiple searches; and acting as a sort of “personal assistant” or proofreader. However, chatbots have occasionally produced “hallucinatory” outputs, sometimes based on small amounts of information or even falsehoods.
Five TikTok users in the US have filed a lawsuit against the state of Montana, claiming that the ban on the app is unconstitutional and suppresses free speech. Montana’s governor recently passed a law prohibiting people from downloading TikTok onto their personal phones, claiming that it was necessary to protect citizens’ personal data from Chinese data collection efforts. The lawsuit is significant for the wider debate about the app’s right to operate in the US, given that it marks the first time a Western territory has banned TikTok for personal use.
A Telegraph poll of over 32,000 readers revealed that 71% of respondents believe the development of artificial intelligence (AI) technology is happening too fast. While some readers were optimistic, stating that the technology is a “freedom-enabling technology”, others were more sceptical, with one fearing that AI development could create a new era of highly skilled, highly paid elites and offer fewer employment opportunities for those without specialist, technical skills. Others worried there could be a job loss crisis, impacting particularly on young people.
The UK government has announced a £1bn investment in the country's semiconductor industry over the next decade as part of an effort to reduce the reliance on Asian production of computer chips. The strategy is designed to boost the domestic chip industry, safeguard British national security and alleviate supply chain disruption, according to Prime Minister Rishi Sunak. The government funding will focus on research and development, as well as design, intellectual property and cutting-edge compound semiconductors. The first £200m will be distributed between 2023 and 2025.
Russian billionaires Vladimir Potanin and Vagit Alekperov have submitted bids to buy a controlling stake in Yandex's Russian business for as much as $7.2bn. The stake in the local business would represent at least 51% of the business and would see it change hands with potential national security implications. However, the Kremlin will need to approve any sale. Additionally, Yandex has been faced with international difficulties following Moscow's intervention in Ukraine, and has been working to balance the interests of domestic pressures with Western investors.
Australia's federal government has shut off a billion-dollar pipeline of funding for carbon capture and storage, and warned that gas companies need to pay their own way in developing the controversial emissions reduction technology. Since 2009 a total $900m of funding from Labor and Coalition governments has been granted for carbon capture, added to state schemes like the $100m NSW Clean Coal Fund, which means public money for the technology exceeds $1 billion. However, the government has quietly cut financial support in the past two budgets.
Nadhim Zahawi, the UK minister for vaccine deployment, has joined thinktank the Adam Smith Institute (ASI). Zahawi said many solutions to modern challenges can be found through the wisdom of Adam Smith, and that political organisations needed to move away from "ever more government intervention". He added he wanted entrepreneurs to be liberated from bureaucratic restrictions, particularly in the growing fields of AI, quantum computing and life sciences. Zahawi helped the UK introduce free ports, which was inspired by ASI research from the 1980s.
Revenue at Tesla Motors UK rose 75% to £2.8bn last year despite spiralling electricity prices eating into sales demand for electric vehicles. The manufacturer registered profits of £31m. The company has reduced the prices of its leading models in the UK to boost sales. Tesla's Model Y sold 35,551 vehicles last year, making it Britain's most popular electric car. Policymakers and industry analysts suggested the market for EVs had peaked, and less-affluent buyers were deterred by persistently high battery prices.
CureVac has filed an expanded patent infringement claim against Pfizer and BioNTech over the use of mRNA technology in their COVID-19 vaccine. The counterclaim alleges that the companies infringed on nine of CureVac's patents, compared to the original claim of three. The trial has been transferred from the Federal District Court of Massachusetts to the Eastern District of Virginia. Pfizer and BioNTech filed a complaint seeking a judgment that they did not infringe U.S. patents held by CureVac. Both companies are also facing other patent infringement lawsuits.
777 Partners' aviation asset arm plans to invest up to $200 million in suppliers
Reuters
23-05-19 12:16
AIP Capital, the aviation asset management arm of 777 Partners, has plans to invest up to $200m in small and medium aerospace suppliers by the close of 2019. Investments may include a first lien loan, with a single investment ranging between $10m and $30m, according to AIP Capital Managing Partner Mathew Adamo. The firm has entered into a servicing agreement with 777 Partners to manage all commercial aircraft owned by the private equity firm. Though the amount is small compared to overall private equity investments, the move underscores growing interest in the supply chain.
A YouGov survey of 1,169 people found that 62% of working Britons think that robotics and AI will take over more jobs than they create. Yet only 22% of people surveyed said they were worried about the impact of robotics and AI on their future careers. AI will change how people do their jobs, but the doomsday scenario where it replaces everyone is still far off, according to Harvard professor Edward McFowland III. White-collar workers' job security may be at risk due to AI integration with technology, according to Harvard professor Joseph Fuller.
UK fintech giant, Revolut, has requested meetings with UK government ministers over stalled payments to the company. The firm has been seeking a UK banking licence for over two years, with reports that an application had been turned down by the Prudential Regulation Authority (PRA) last week. The Bank of England informed the government of its likely decision on the licence. The PRA has not yet officially told Revolut of its decision, with executives expected to meet Treasury officials to discuss economic growth. Founders of other fintech start-ups claim that the PRA is overly cautious about granting licences.
MIT economics professor Daron Acemoglu has published a book called Power and Progress that examines the past millennium of technological progress, its imbalances and the need for proper incentives and regulatory safeguards to be put into place. While it was assumed neoliberal globalisation would always be beneficial, Acemoglu's research shows that major technological disruption such as the Industrial Revolution can flatten wages for an entire class of working people, involving distributional conflict and power dynamics. He argues capital takes what it wants in the absence of constraints and technology is a tool that can be used for good or ill. Acemoglu says it's not automatic and economists must remember this process as it can create growth but not enrich the masses.
The G7 has endorsed the ‘Hiroshima Vision on Nuclear Disarmament’, a new action plan unveiled by Japanese Prime Minister, Fumio Kishida, which is intended to achieve a world free of nuclear weapons. The G7 leaders have agreed on a series of priorities aimed at reducing global nuclear arsenals, but have not implemented any binding agreement to remove them. They condemned Russia's "dangerous and unacceptable" atomic threats against Ukraine and the acceleration of China's nuclear arsenal. However, International Campaign to Abolish Nuclear Weapons (ICAN) claimed the meeting “failed to come up with any concrete proposals” and just produced “a rehash of old non-proliferation measures” that did not address the severity of the current nuclear threat nor the urgency of disarmament. All G7 member countries rely on nuclear weapons for their security and, as result, it is suggested that the countries are limited in their ability to negotiate for disarmament. Despite this, the group has nonetheless suggested practical steps such as increasing the transparency of nuclear capacity and reducing stockpiles, securing nonproliferation, promoting the peaceful use of nuclear agency and continuing not to use atomic weapons.
The Standard & Poor's 500 index (S&P 500) has risen by 9% on the back of increasing interest in artificial intelligence, with five stocks - Microsoft, Alphabet, Nvidia, Apple and Meta Platforms - responsible for all of the average's gains, according to DataTrek Research. The sector's impact on the S&P is so profound that a report by SocGen claimed that removing from the index 20 stocks with the biggest AI connections would leave the S&P in negative territory for the year. A Goldman Sachs report suggests generative AI could expand S&P 500 profit margins by 4 percentage points.
The next industrial revolution, Industry 5.0, needs to empower employees to work collaboratively with technology that has been designed around the way they think and work in order to boost productivity. Business chiefs need to make it about putting people, rather than technology, first, being conscious of the human element of digital transformation where Industry 4.0 concepts are based on bringing together intelligent technologies like artificial intelligence, the cloud, the internet of things (IoT), etc. People’s empowerment to work along with technology that has been designed specifically for the way they think and work will act as the essence of Industry 5.0.
Despite being highly popular and having evolved over time to become ever more discreet and effective, the use of headphones on the move is still far from universal. According to Janan Ganesh in the Financial Times, this has come a long way since the introduction of Sony's original Walkman in 1979, and has led to an era where urbanites can comfortably exist in “privatised pleasure palaces... a sensory bubble” on their commutes by tuning into or out of urban noise at will.
Silver Lake acquires minority stake in TeamSystem for $660 million
Reuters
23-05-19 21:06
Cloud software firm TeamSystem has announced that Hellman & Friedman will be selling off a minority stake to private equity firm Silver Lake. The deal is valued at €600m ($660.4m) and is due to be finished by the end of 2021. Following the transaction, Hellman & Friedman will remain as the company’s majority shareholder. TeamSystem provides software for payroll, business management, and accounting, operating with smaller to mid-sized companies in mind. H&F acquired the company in 2016 and in 2021 moved the firm from one of its funds to another, with TeamSystem management and Hg holding minority stakes.
The US Federal Trade Commission (FTC) has warned companies regarding the use of facial recognition and other biometric identifiers in transactions with customers, urging them to weigh the risks against the benefits and consider whether they really require its use. The FTC fears that companies will collect biometric data revealing personal information about consumers including attendance at political or union events or visits to medical professionals. By collecting such information, it is likely to increase the risk of malicious actors accessing consumers' personal devices or bank accounts, said the regulator. Furthermore, consumers, may be unaware their biometric data is being harvested, said the FTC, adding that it will continue to use its enforcement power against companies that do not fully inform consumers about their data collection policies and fail to protect the information collected, or assure that the technology does not disproportionately hurt any particular demographic.
