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FTX: Singapore state fund Temasek cuts pay after failed investment

na05 mins

Singapore state-owned investment fund Temasek Holdings says it has cut the pay of staff responsible for its investment in cryptocurrency exchange FTX, which collapsed last year. In November, the fund wrote off all of the $275m (£222.8m) it invested in FTX. Prosecutors have accused FTX’s former chief executive Sam Bankman-Fried of orchestrating an “epic” fraud which may cost investors billions of dollars. Mr Bankman-Fried has pleaded not guilty to the charges. “The investment team and senior management, who are ultimately responsible for the investment decisions made, took collective accountability and had their compensation reduced,” Temasek said in a statement on…

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Artificial intelligence could lead to extinction, experts warn

na06 mins

Artificial intelligence could lead to the extinction of humanity, experts – including the heads of OpenAI and Google Deepmind – have warned. Dozens have supported a statement published on the webpage of the Centre for AI Safety. “Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war” it reads. But others say the fears are overblown. Sam Altman, chief executive of ChatGPT-maker OpenAI, Demis Hassabis, chief executive of Google DeepMind and Dario Amodei of Anthropic have all supported the statement. Dr Geoffrey Hinton, who issued an earlier warning…

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Justice Department Steps up Scrutiny  of Crypto 

na01 mins

Justice Department Steps up Scrutiny  of Crypto US crypto tsar promises crackdown on digital platforms Top cryptocurrency enforcement is promising a crackdown on  digital platforms. Crypto crime has grown ,The Department of Justice, is targeting crypto exchanges. The  agency’s national cryptocurrency enforcement team , told the Financial Times in an interview, The DoJ is targeting companies that commit crimes. “They’re allowing for all the other criminal actors to easily profit from their crimes ” she stated. Then agent stated “focus on platforms would send a deterrent message” to businesses.In the face of FTX and other well known platform failures the…

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FBI hacked American computers to “fix Russian malware”

na03 mins

The US federal government has claimed that it managed to disable a global computer network that was infected by ‘Russian’ malware, which had been in use for two decades. A court warrant allowed FBI agents to remotely access infected computers, which officials described as an “innovative use of legal authorities.” On Tuesday, the US Department of Justice revealed details of Operation MEDUSA, a joint effort by several US and foreign law enforcement and intelligence agencies that targeted a hacker group nicknamed ‘Turla’. US officials claimed that the group was linked to the Russian Federal Security Service (FSB), and had deployed a…

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Wendy’s Unveils Google-Powered AI Chatbot At Drive-Thru

na04 mins

Wendy’s is reportedly developing an artificial intelligence chatbot powered by Google’s natural-language software designed to automate drive-thrus.  The Wall Street Journal spoke with Wendy’s Chief Executive Todd Penegor, who said the fast-food chain’s chatbot would be rolled out in June at a company-owned restaurant in Columbus, Ohio. The Wendy’s drive-thru chatbot “will be very conversational,” Penegor explained. He said, “You won’t know you’re talking to anybody but an employee.” Wendy’s software engineers have been working with Google to build a large language model to understand words, popular expressions, and phrases in various dialects and accents when a customer orders. It’ll understand acronyms unique to Wendy’s,…

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Building A Biometric Database

na02 mins

DHS Is Looking For Help Building A Biometric Database Tool On Amazon’s Cloud by Ken Macon The Department of Homeland Security (DHS) is seeking information on the development of a cloud software tool that would help it manage biometric identity systems. The procurement notice, obtained by Reclaim The Net here, seeks information on the requirements and development, as well as management tools, that would help its Office of Biometric Identity Management (OBIM) to best perform its biometrics work.“The need for biometrics continues to grow among DHS Components – the purpose of this RFI is to gather information on requirements development and…

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Lawmakers ‘Cowered’ on Tech Giants, Again

na07 mins

Analysis by Cristiano Limawith research by David DiMolfetta Grassley’s blunt remarks illustrate fallout from lawmakers’ antitrust defeat and how it may shape efforts to regulate the tech sector moving ahead, beyond concerns about competition.  Sen. Chuck Grassley (R-Iowa) spoke candidly on Thursday about the impact of failed efforts to pass major antitrust legislation last Congress. The defeat is hurting lawmakers’ attempts to rein in the tech giants, he argued, because some of his colleagues “cowered” in the face of industry “intimidation.” A massive industry-led lobbying campaign to tank those proposals is still giving lawmakers the jitters, he said during a…

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Google Updates AI with Microsoft

na04 mins

By James Clayton -BBC   Google has announced it is rolling out generative artificial intelligence (AI) to its core search engine. The move comes after Microsoft incorporated GPT-4 into its Bing search engine earlier this year. Search Generative Experience – which will be part of Google – will craft responses to open-ended queries, the company said. However, the system will only be available to a limited number of users and is still in “experimental” phase. “We are reimagining all of our core products, including search,” said Sundar Pichai, the boss of Google’s parent company Alphabet. Additionally, the company announced a…

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Quickly A.I. Understanding

na03 mins

AI works by combining large amounts of data with fast, iterative processing and intelligent algorithms, allowing the software to learn automatically from patterns or features in the data. AI adapts through progressive learning algorithms to let the data do the programming. AI finds structure and regularities in data so that algorithms can acquire skills. Just as an algorithm can teach itself to play chess, it can teach itself what product to recommend next online. 4 main types of artificial intelligence Reactive machines. Reactive machines are AI systems that have no memory and are task specific, meaning that an input always…

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End of Free Money

na016 mins

By Guardian In this week’s newsletter: From massive venture capital investment to sky-high salaries, the days of constant growth backed by low-cost loans may be over   For more than a decade, the tech industry has been defined by two economic zeros. The “zero interest rate policy” (ZIRP) across the western world saw the price of money plummet, letting startups run at a loss for years and giving investors massive appetite for risky bets that might pay off in a big way. At the same time, the “zero marginal cost” of the software industry gave outsized returns to effort, allowing…

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