The world is changing, and apparently, it’s moving to an era where flying cars and talking AI tech robots are a typical walk in the park. With technology taking over almost every aspect of our lives, change is occurring faster than we have interpreted.
Though, it’s not a bad thing, for it has made our lives easier and opened up new opportunities. Technology shouldn’t be our enemy rather, it should be your hand-in-hand alley.
Adapting to change will take humankind to boundaries that have not yet been reached.
Technology Is a Useful Servant But a Dangerous Master
— Christian Lous Lange
Do you think that having your kids take care of mowing the lawn or cleaning the floor is better than doing it yourself? But why do it yourself when you can have technology take care of it?
I’m not saying replace your children with robots; I’m just saying let technology lend you a hand with your tasks.
Technology has been able to provide robots that can do human-like tasks and solve problems better than humans. It shows-off the great invention of Artificial Intelligence technology. With this remarkable breakthrough, a lot of outstanding high-tech gadgets have been developed that make life easier.
AI technology has made our daily routine and tasks much easier to handle. From automated floor cleaning robots, voice-activated phone assistants, and self-parking cars.
All of these inventions will have you thinking about how far technology can go. Well, don’t go too far because it’s on the verge of creating human-like robots!
What is AI Technology?
Artificial Intelligence is basically robots doing motor-related tasks, and other problem-solving tasks like humans do. They handle any given task by using machine learning, deep learning, and natural language processing to comprehend the data they are provided.
AI robots use this programming to find patterns from the information at hand and act on it. It’s really a controversial definition, for it differs from one researcher to another. However, the main part of it is robots doing what humans do, based on experience.
Nowadays, it’s very common to find AI technology in almost anything we use.
You can find it in your car, on your smartphone, or even on your laptop. AI tech is able to park your car without your help, navigate your phone with simple voice commands, and solve any task at hand on your computer programs.
You can find it on most Adobe applications as these programs all are based on Artificial Intelligence programming. For example, Adobe Photoshop can align the outer layers of a picture instantly with the use of machine learning. Audio programs like Adobe Audition can remove echo and noise sounds by just applying a simple machine learning preset.
We are surrounded by AI technology today — and more and more tech will be invented.
It seems as if AI technology can almost take over everything and leave us with absolutely nothing. Well, since this idea is somewhat true, researchers still believe that Technology won’t take over our jobs but actually provide more.
Researchers and developers created human-like robots that look like us and talk like us.
Artificial humans are here, and they are going to take over your job, home, and tax income. Actually, no, they’re not. Meet the NEON, which is the first artificial human created by STAR Labs.
This artificial is a computationally created virtual being that looks and behaves as humans do. It also has the ability to show emotions as we do. These amazing creations are still a working progress for STAR Labs.
At the CES 2020 convention, NEON’s CEO gave a brief and straightforward explanation of how their invention works.
They showed the audience a demo of what the NEON artificial human would look like and how it would act. Basically, they are virtual humans on a screen that looks very vivid and have exceptional attention to detail.
They can interact with humans and answer any question given to them. The most important aspect of this invention is that these AI can imitate the human body and facial expressions, as well as adopt new ones.
That is possible because of the thorough programming that enables them to detect certain patterns they see from the algorithm they have.
Journalists and the audience were able to test the first demos.
During that convention, a lot of journalists and audiences got the chance to test out the first demo of the NEON. Apparently, they work pretty well, and this might be an amazing breakthrough for STAR Labs and the AI tech industry.
Although there were a few setbacks noticed from the system, like video lagging and bad voice synchronization. Not to mention that some of the Artificial Humans had some small appearance details that needed to be adjusted.
CEO of NEON explained how they were going to fix these minor setbacks with a few modifications
CORE R3 is a program that NEON is based upon. It stands for Reality, Real-time, and Responsive. This outstanding project delivers a 100% visually real view, which, of course, is the reason behind the thorough appearance of the NEON’s Artificial Humans.
In addition, it prevents latency and delays with a range of less than 15 ms, as well as synthesizes original reality instantly.
What was made clear in the convention is that these minor setbacks and delays can be adjusted and reprogrammed thanks to the CORE R3. Of course, it will take time to provide a perfect model of the NEON, but I think it’s actually worth waiting.
This feature of programming is also based and implemented in the depth programming of the NEON. What Spectra does is that it complements the CORE R3 to provide a better performance in the expression of emotions and reactions.
Spectra represents intelligence, emotional, and immersional that allows the system to combine solutions to adapt rapidly to human behaviors. This gives the NEON the ability to imitate human expressions and develop new ones in the process of learning and memory.
The CEO of NEON also explained how this part of the model will be the solution behind the expression lagging and voice synchronization problem.
Seeing how the first model version works, it doesn’t seem as if they will have a problem with adjusting these minor setbacks. Although; the system still needs time to reach that aspect of perfection.
What Can Come from NEONs?
First of all, this state-of-the-art invention is not designed to replace humans. It wasn’t built on the purpose of replacing humans and taking over our jobs. In fact, the reason behind it is just to make our lives easier, simpler, and more productive.
NEON’s vision is simply to have these Artificial Humans take part in society and provide services to the people that can’t have these benefits.
Who can the NEON represent?
— An influencer that can help with consultation and giving you business advice.
— A TV presenter and anchor that tells the news and the latest updates.
— A sales representative that will take on one-on-one customer interaction and providing all their needs.
— A tutor that educates society in different educational fields.
— An agent that will provide instant seat booking and flight information.
All of the AI tech BOTs come in different languages.
The vision and intention of this project are to provide these services for people who are unable to attend appointments or can’t make it because of long-distance. Also, to have a nice and pleasant person greeting you at the train station and assisting you with any concerns you might have.
It’s all for the greater good and to provide more help and make things easier for society and the world.
Stop Feeling Like BOTs are a Horrifying Thing — They’re Wonderful.
You shouldn’t be afraid of changing or adapting to the fact the technology might take over our lives (in a good way, of course).
It’s all for the greater good, and hopefully, no harm will come from it.
Give technology a chance, and you might see a brighter future for you and the world around you.
Image Credit: yuyeung-lau; unsplash
Fintech Kennek raises $12.5M seed round to digitize lending
London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.
According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.
The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:
“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”
The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:
“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”
The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.
The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.
Featured Image Credit: Photo from Kennek.io; Thank you!
Fortune 500’s race for generative AI breakthroughs
As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.
Goldman Sachs’ Cautious Approach to Implementing Generative AI
In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.
According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.
One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.
To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.
Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.
Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!
UK seizes web3 opportunity simplifying crypto regulations
As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.
Streamlining Cryptocurrency Regulations for Innovation
To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.
The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.
Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.
The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.
Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!