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US Senators Lambaste Libra Again: Same as Subprime Mortgage Scam

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Facebook's foray into crypto has made the firm few friends in political circles. The Libra backlash has been so bad that it has painted bitcoin and the rest of the crypto industry in a bad light. This week US senators have ramped up their rhetoric against internet monopoly and its lofty banking ambitions. A high ranking member of the Senate Banking Committee has lashed out at Libra again this week when he compared it to the subprime mortgage crisis that caused the 2008 global recession. According to Yahoo Finance, Senator Sherrod Brown pulled no punches in his opening remarks during the assembly.


The 2018 Survey: AI and the Future of Humans

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"Please think forward to the year 2030. Analysts expect that people will become even more dependent on networked artificial intelligence (AI) in complex digital systems. Some say we will continue on the historic arc of augmenting our lives with mostly positive results as we widely implement these networked tools. Some say our increasing dependence on these AI and related systems is likely to lead to widespread difficulties. Our question: By 2030, do you think it is most likely that advancing AI and related technology systems will enhance human capacities and empower them? That is, most of the time, will most people be better off than they are today? Or is it most likely that advancing AI and related technology systems will lessen human autonomy and agency to such an extent that most people will not be better off than the way things are today? Please explain why you chose the answer you did and sketch out a vision of how the human-machine/AI collaboration will function in 2030.


Term Sheet -- Tuesday, February 12

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My colleague Lucinda Shen wrote an interesting article about Second Measure, a startup that pulls together consumers credit card transactions, analyzes the trends, and sends it out with a roughly two week delay. In a time when the internet seems to have information on just about everything, getting data earlier than most can be the edge needed for a winning investment. That's what companies such as Goldman Sachs, and Citi Ventures are betting on with Second Measure, a startup that pulls together consumers credit card transactions, analyzes the trends, and sends it out with a roughly two week delay--an advantage to quarterly financial statements that come out every three months. On Tuesday, Second Measure announced $20 million in Series A funding led by Bessemer Venture Partners and Goldman Sachs. The startup, founded by two software engineers that once worked at gaming company Electronic Arts, now counts roughly 150 clients, with asset managers such as Neuberger Berman and venture capital clients such as New Enterprise Associates among the ranks.