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Category Archives: Financial System

Artificial Intelligence Index Report 2024

Stanford University, Human-Centered Artificial Intelligence. Artificial Intelligence Index Report 2024. “Welcome to the seventh edition of the AI Index report. The 2024 Index is our most comprehensive to date and arrives at an important moment when AI’s influence on society has never been more pronounced. This year, we have broadened our scope to more extensively cover essential trends such as technical advancements in AI, public perceptions of the technology, and the geopolitical dynamics surrounding its development. Featuring more original data than ever before, this edition introduces new estimates on AI training costs, detailed analyses of the responsible AI landscape, and an entirely new chapter dedicated to AI’s impact on science and medicine. The AI Index report tracks, collates, distills, and visualizes data related to artificial intelligence (AI). Our mission is to provide unbiased, rigorously vetted, broadly sourced data in order for policymakers, researchers, executives, journalists, and the general public to develop a more thorough and nuanced understanding of the complex field of AI. The AI Index is recognized globally as one of the most credible and authoritative sources for data and insights on artificial intelligence. Previous editions have been cited in major newspapers, including the The New York Times, Bloomberg, and The Guardian, have amassed hundreds of academic citations, and been referenced by high-level policymakers in the United States, the United Kingdom, and the European Union, among other places. This year’s edition surpasses all previous ones in size, scale, and scope, reflecting the growing significance that AI is coming to hold in all of our lives…

1. AI beats humans on some tasks, but not on all. AI has surpassed human performance on several benchmarks, including some in image classification, visual reasoning, and English understanding. Yet it trails behind on more complex tasks like competition-level mathematics, visual commonsense reasoning and planning.
2. Industry continues to dominate frontier AI research.
3. Frontier models get way more expensive. According to AI Index estimates, the training costs of state-of-the-art AI models have reached unprecedented levels.
4. The United States leads China, the EU, and the U.K. as the leading source of top AI models.
5. Robust and standardized evaluations for LLM responsibility are seriously lacking.
6. Generative AI investment skyrockets.
7. The data is in: AI makes workers more productive and leads to higher quality work.
8. Scientific progress accelerates even further, thanks to AI.
9. The number of AI regulations in the United States sharply increases.
10. People across the globe are more cognizant of AI’s potential impact — and more nervous…”

AI in Finance and Banking, April 15, 2024

Via LLRX – AI in Finance and Banking, April 15, 2024 – This semi-monthly column by Sabrina I. Pacifici highlights news, government reports, NGO/IGO papers, industry white papers, academic papers, conferences and speeches on the subject of AI’s fast paced impact on the banking and finance sectors. The chronological links provided are to the primary sources,… Continue Reading

US DOT – PROTECT Discretionary Grant Program Award Recipients

PROTECT Discretionary Grant Program Fact Sheet –  “The vision of the PROTECT Discretionary Grant Program is to fund projects that address the climate crisis by improving the resilience of the surface transportation system, including highways, public transportation, ports, and intercity passenger rail. Projects selected under this program should be grounded in the best available scientific… Continue Reading

Pete Recommends – Weekly highlights on cyber security issues, April 13, 2024

Pete Recommends – Weekly highlights on cyber security issues, April 13, 2024 – Privacy and cybersecurity issues impact every aspect of our lives – home, work, travel, education, finance, health and medical records – to name but a few. On a weekly basis Pete Weiss highlights articles and information that focus on the increasingly complex… Continue Reading

The 12 Companies That Together Own 500+ Consumer Brands

Quartr: “Warren Buffett famously popularized the term “moat,” stating that “a truly great business must have an enduring moat that protects excellent returns on invested capital.” This can take shape in various forms, and according to Buffett, one of them is “possessing a powerful world-wide brand (Coca-Cola, Gillette, American Express).” The consumer goods sector is… Continue Reading

FCC rule now requires internet service providers to display fees

“Broadband Labels are designed to provide clear, easy-to-understand, and accurate information about the cost and performance of high-speed internet services. The labels are modeled after the FDA nutrition labels and are intended to help consumers comparison shop for the internet service plan that will best meet their needs and budget. Internet service providers that offer… Continue Reading

Home Insurance Rates to Rise 6% in 2024 After 20% Increase in Last 2 Years

Insurify: “Home insurance rates are rising, influenced by climate catastrophes and inflation, leaving homeowners uncertain about future expenses. The average annual rate increased by 19.8% between 2021 and 2023, from $1,984 to $2,377.  Insurify projects a 6% increase in 2024, placing rates at $2,522 by the end of the year. Early weather forecasts predict a… Continue Reading

FTC Report Says Grocers Exploited Consumers During COVID-Era Supply Chain Disruptions

New York Times via MSN: “Throughout the COVID-19 pandemic, grocery prices skyrocketed as shelves were left bare of novelties and necessities. The culprit? Supply chain disruptions. The COVID-19 pandemic severely strained the U.S. food supply chain, exposing vulnerabilities from farm to table. With limited capacity to meet surging demand due to sick workers and supply… Continue Reading

LLRX March 2024 Issue

Articles and Columns for March 2024 – https://www.llrx.com 2024 Link Guide to Generative AI Resources – Marcus P. Zillman Deepfakes are still new, but 2024 could be the year they have an impact on elections – Professor Eileen Culloty AI in Banking and Finance, March 31, 2024 – This semi-monthly column by Sabrina I. Pacifici… Continue Reading