Category «Financial System»

Generative AI Raises Competition Concerns

“Generative AI has the potential to rapidly transform the way we live, work, and interact. Within just a few months, generative AI chatbots and applications have launched and scaled across industries and reached hundreds of millions of people. AI is increasingly becoming a basic part of daily life. Generative AI depends on a set of …

Subjects: AI, E-Commerce, Economy, Financial System, Intellectual Property, Legal Research

AI and the Financial System – June 28, 2023

AI and the Financial System – June 28, 2023 – This column by Sabrina I. Pacifici highlights the fast paced impact of AI on many facets of the global financial system. The chronological links provided are to the primary sources, and as available, indicate links to alternate free versions. Each entry includes the publication name, …

Subjects: AI, Cybercrime, Cybersecurity, Economy, Financial System, Government Documents, Internet, Legal Research

Key Terms for AI Governance

Published: June 2023 – “The field of artificial intelligence is rapidly evolving across different sectors and disparate industries, leaving business, technology and government professionals without a common lexicon and shared understanding of terms and phrases used in AI governance. Even a search to define “artificial intelligence” returns a range of definitions and examples. From the …

Subjects: AI, Economy, Financial System, Internet, Knowledge Management, Legal Research

Is A Crypto Collapse Inevitable?

Via LLRX – Is A Crypto Collapse Inevitable? – Jerry Lawson and Elizabeth Southerland identify technical reasons why the crypto bubble is bursting, including the fact that theoretically unbreakable encryption schemes like those underpinning blockchain have proven to be less than impermeable in practice, as users of Coinbase discovered upon losing fortunes. Attackers go after the weakest …

Subjects: Cryptocurrency, Cybercrime, Cybersecurity, Economy, Financial System, Legal Research

ChatGPT and Generative AI in Legal, Corporate & Tax Markets

Thomson Reuters 2023 Future of Professionals: ChatGPT and Generative AI in Legal, Corporate & Tax Markets, June 2023 [24 pages, PDF]: “As generative AI started taking hold, the Thomson Reuters Institute has begun to catalog and measure generative AI usage and attitudes in the legal and tax industries. The first report examined generative AI within …

Subjects: AI, Economy, Financial System, Internet, Knowledge Management, Legal Research

Data Act: Commission welcomes political agreement on rules for a fair and innovative data economy

European Commission: “The Commission welcomes the political agreement reached today between the European Parliament and the Council of the EU, on the European Data Act, proposed by the Commission in February 2022. Today, the Internet of Things (IoT) revolution fuels exponential growth with projected data volume set to skyrocket in the coming years. A significant …

Subjects: Economy, EU Data Protection, Financial System, Government Documents, Internet, Knowledge Management, Legal Research, Privacy

Global income deciles

Kanishka B. Narayan et al. “present a consistent dataset of income distributions across 190 countries from 1958 to 2015 measured in terms of net income.” Where net income statistics were unavailable, the authors imputed the deciles from consumption data or the country’s Gini coefficient. Their paper also provides a comparison of their dataset to the …

Subjects: Economy, Financial System, Government Documents, Legal Research, Poverty

An Aggressive Supreme Court Reshapes the US as Its Standing Erodes

Bloomberg – free link: “A conservative supermajority is remaking US laws on the environment, health and firearms, even as public confidence declines and ethical questions grow. The Supreme Court, in the midst of a run of decisions that have stress-tested the core principles of US democracy, has rarely been so aggressive in using its powers — …

Subjects: Civil Liberties, Congress, Courts, Economy, Financial System, Government Documents, Health Care, Legal Research

Chamber of Secrets

Washington Monthly: “…The Supreme Court’s habit of deciding hugely important cases without briefings, arguments, or even a word of explanation threatens democracy. Some progressive legal scholars have coined the term demosprudence to underline that the opinion announcements are the only time that the Court’s members directly address the public. Clearly, however, the justices do not …

Subjects: Civil Liberties, Courts, Financial System, Freedom of Information, Government Documents, Knowledge Management, Legal Research

PwC’s Global Workforce Hopes and Fears Survey 2023

“Business leaders everywhere are prioritising transformation, but what if your most skilled people are more reinvention ready than your company culture is? And what if your employees say they are even more likely to quit now than they were last year—back when everyone thought the “great resignation” was at its peak. This is the complicated—and …

Subjects: AI, Economy, Education, Financial System, Knowledge Management

Saving the News from Big Tech

EFF, Cory Doctorow [23 pages]: “Media is in crisis: newsrooms all over the world are shuttering and the very profession of journalism is under sustained ideological and physical assault. Freedom of the press is a hollow doctrine if the only news media is written or published by independently wealthy individuals who don’t need to get …

Subjects: Economy, Financial System, Knowledge Management, Legal Research, Social Media

FTC Action Against Amazon for Enrolling Consumers in Amazon Prime Without Consent

“The Federal Trade Commission is taking action against Amazon.com, Inc. for its years-long effort to enroll consumers into its Prime program without their consent while knowingly making it difficult for consumers to cancel their subscriptions to Prime. In a complaint filed today, the FTC charges that Amazon has knowingly duped millions of consumers into unknowingly …

Subjects: E-Commerce, Financial System, Legal Research