Billionaire's Bold AI Proposal: Are We Ready for 24/7 Surveillance?
Larry Ellison wants AI drones to monitor us all. OpenAI's o1 changes the game for math, coding, and scientific research—what’s next?
This edition of ThirdSpace Buzz delves into the latest advancements and significant shifts shaping the world. We've got you covered, from groundbreaking AI models to nuanced market movements. Whether you're a business leader, investor, or lifelong learner, these updates will equip you with the knowledge to stay ahead of the curve.
Larry Ellison's vision for AI-driven citizen surveillance
OpenAI's o1 model makes strides in AI reasoning
Security breach at Fortinet with 440GB of data stolen
AI's role in creative problem-solving and collaboration
Salesforce's new AI tools for the healthcare sector
Market updates: Tech stocks struggle ahead of Fed rate cut
Intel's market boost from Amazon business deal
Now, let’s dive deeper into these pivotal updates, exploring the implications and opportunities they present.
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📰 Feature Articles
Billionaire Advocates for AI-Driven Surveillance to Keep Citizens “In Line”
Larry Ellison, Oracle's co-founder, envisions a future where constant AI surveillance ensures citizens are always "on their best behavior." In a recent address, Ellison predicted that AI-driven systems would supervise everyone, including police officers, by continuously monitoring and reporting activities. His vision includes the use of AI drones to replace human officers in high-risk situations, such as car chases. This push for AI in surveillance comes amidst Oracle’s legal troubles for alleged global data privacy violations, raising concerns about the implications of such pervasive monitoring. (Futurism)
OpenAI’s o1: A Breakthrough in AI Reasoning
OpenAI’s new AI model, o1, marks a significant leap in AI reasoning, distinguishing itself from previous language-focused models like GPT-4o. Unlike its predecessors, o1 excels in solving complex, multistep reasoning tasks such as advanced math, coding, and scientific inquiries. With impressive results in competitive coding and high-level math challenges, o1 could help AI break into STEM fields, aiding human researchers in complex problem-solving. However, the model comes with high costs and limitations, especially for language tasks, sparking ongoing debate about AI’s role in reasoning. (MIT)
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🗞️ In Other News
Fortinet confirmed a data breach after 440GB of files were stolen from its cloud-based Sharepoint. (Bleeping Computer)
Andy Clark argues that the brain functions like a computational system, but this doesn't fully explain human consciousness. (MindMatters)
The "Void Banshee" group is exploiting two Microsoft zero-day vulnerabilities affecting Windows systems. (Dark Reading)
Lovense has launched the AI-powered Solace Pro sex toy, offering a $209 discount, reducing the price to $189. (The Sun)
AI can generate practical solutions, but the best creative ideas emerge through human-AI collaboration. (Harvard Business School)
Salesforce will launch AI tools for healthcare in October, streamlining tasks like patient summaries and insurance verification. (Healthcare IT News)
Yann LeCun opposes California's AI safety bill, SB 1047, while Geoffrey Hinton supports stricter AI regulations. (VentureBeat)
Infosys chair Nandan Nilekani predicts large AI models will be commoditized, with value shifting to applications built on top of them. (CNBC)
Trump launches World Liberty Financial, focusing on DeFi, sparking concerns about constitutional conflicts and industry skepticism. (Axios)
An AI-powered "Lord of the Rings: The Fellowship of the Rednecks" parody has gone viral for its hilarious mashup. (Looper)
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📈 Market Updates
On Monday, U.S. stocks saw mixed results as tech stocks struggled ahead of the Federal Reserve's anticipated rate cut. The Nasdaq fell 0.5%, primarily driven by a 3% drop in Apple shares due to weaker-than-expected iPhone 16 sales. Meanwhile, the Dow rose 0.5%, hitting a record close, boosted by a 6% surge in Intel. Investors are increasingly betting on a 50-basis-point rate cut at the Fed’s meeting, which would mark the first cut in four years. Boeing also faced pressure, with shares down 1% amid a strike and hiring freeze. (Yahoo! Finance)
European stocks rose on Tuesday while the U.S. dollar weakened ahead of the U.S. Federal Reserve's expected rate cut on Wednesday. Markets now see a 70% chance of a 50-basis-point cut, driving up risk assets and lowering the dollar and bond yields. European indices such as the STOXX 600 and DAX also gained, while U.S. stock futures edged up. Meanwhile, the Bank of England and Japan are expected to keep rates steady. Japan's yen strengthened, raising concerns for exporters, and China's weak economic data weighed on sentiment. Oil and gold prices remained stable. (MSN)
On Tuesday, European stocks and U.S. futures rose as investors focused on upcoming U.S. retail sales data ahead of the Federal Reserve's interest rate decision. Intel saw an 8.1% premarket boost after securing business with Amazon. The dollar steadied after a four-day decline, while Treasury yields edged lower. Gold remained near record highs, and oil prices held steady. (Bloomberg)
Weekly Kickoff Summary
Important economic events to watch:
Tuesday, September 17
8:30 AM: Core Retail Sales m/m
8:30 AM: Retail Sales m/m
9:15 AM: Capacity Utilization Rate
9:15 AM: Industrial Production m/m
10:00 AM: FOMC Member Logan Speaks
😎 Good Reads and Writers
Financial Freedom is not free, but the treasure is worth the pursuit! Learn to manage your own wealth. Substack Featured 3x. (Not Your Advisor x NYUGrad)
Independent Investment Researcher & Investor. Differentiated reports, deep dives, trading ideas, charts and educational topics. Risk management & hedging for an all weather portfolio. (Maverick Equity Research)
Weekly analysis of QQQ and financial charts. This is not investment advice, always do your own due diligence. (QQQ notes)
📘 Useful Tools and Resources
Equip your business for success with Acer's essential laptops, desktops, monitors, and accessories. (Acer)
Dose for Excel enhances your Excel with over 100 new features and functions to boost productivity. (Dose for Excel)
Remixable automates all the key steps to running a successful Internet business. (Remixable)
Sqribble is the all-in-one fast & easy solution for Ebooks. (Sqribble)
🎉 Speakers and Events
The ET Soonicorns Summit Bengaluru September 20, 2024 (Economic Times)
TradersEXPO Orlando October 17 - 19, 2024 (MoneyShow)
AI AI Boston October 16 - 18, 2024 (AI Accelerator Institute)
✅ Interactive Poll
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🤟 Closing Remarks
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