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Time and again, leading scientists, technologists, and philosophers have made spectacularly terrible guesses about the direction of innovation. Even Einstein was not immune, claiming, “There is not the slightest indication that nuclear energy will ever be obtainable,” just ten years before Enrico Fermi completed construction of the first fission reactor in Chicago. Shortly thereafter, the consensus switched to fears of an imminent nuclear holocaust. Similarly, today’s experts warn that an artificial general intelligence (AGI) doomsday is imminent. Others retort that large language models (LLMs) have already reached the peak of their p...... Read Full article on GretAi

Staying competitive in the finance sector is vital, with many companies moving quickly to adopt artificial intelligence (AI) to reduce costs and streamline operations. But two companies recently came unstuck when the United States Securities and Exchange Commission (SEC) accused them of exaggerating their use of AI, marking the world’s first significant move in combating so-called “AI washing”. Delphia (USA) Inc and Global Predictions Inc, boasted about using AI for designing investment strategies, but the SEC found their claims to be unsubstantiated. There’s much speculation around AI, especially with generative technology app Ch...... Read Full article on GretAi

Europe invests a lot in research, and publishes and patents many ideas. But it fails to compete with the US and China when it comes to translating its innovation effort into large, global technology firms. The seven largest US tech companies, Alphabet (Google), Amazon, Apple, Meta, Microsoft, Nvidia and Tesla, are 20 times bigger than the EU’s seven largest, and generate more than ten times more revenue. That isn’t to say Europe has no tech success stories. The world leader in music streaming is Spotify, a Swedish company. Dutch company ASML produces the world’s most advanced computer chips, and Danish drugmaker Novo Nordisk is leadin...... Read Full article on GretAi